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The spread of COVID-19 has had severe repercussions for the global economy and society. At the same time, the pandemic has given us great awareness. We must deal with various issues along the path to the forthcoming post-COVID-19 era, such as climate change, widening disparities, divisions among nations, and the way capitalism should be.
The House Foods Group decided on its philosophy, Through food, we aim to be a good corporate citizen, connecting and collaborating with people to create smiles in their lives, in 2013 to mark the centennial of its business foundation and to spell out its aspiration to serve various stakeholders as a corporate citizen and their good partner. The Group developed this philosophy, bearing in mind the Three Responsibilities it should fulfill as a corporate citizen, namely, its responsibility to customers, its responsibility to employees and their families, and its responsibility to society. In the forthcoming post-COVID-19 era, the Group will continue to advance reforms in a bid to change itself into a corporate group capable of fulfilling these Three Responsibilities at higher levels toward the ultimate goal of developing the collective capacity to make contributions to the realization of a sustainable society.
The House Foods Group is currently preparing a medium-term plan for each period of three years. Under the Seventh Medium-term Business Plan that commenced in April 2021, the Group is moving forward with initiatives based on themes and action plans specifically established for each of the Three Responsibilities.
To fulfill its responsibility to society, the Group will realize a way of living that makes people smile by pursuing two themes, namely, the development of a recycling-oriented model, which it must deal with as a corporate citizen, and the achievement of healthy longevity, which food business operators can address well, for the greater objective of improving the health of people and the global environment.
To fulfill its responsibility to employees and their families, the Group will encourage employees to achieve personal growth and enriched lives, while simultaneously seeking growth itself, enhancing productivity through diversity.
To fulfill its responsibility to its customers, the Group will rearrange its business segments by introducing a concept called the value chain. The term "value chain" means a chain of value from the production and procurement of raw materials through processing to the provision of products and services for delivery to consumers. Focusing on the four value chains of spices, functional ingredients, soybeans and value-added vegetables as fields for enhancing customers' health through foods, the Group will advance reforms through the backcasting approach to turn itself into a group of quality companies whose presence is felt globally.
As a good partner in efforts to achieve shared goals, the House Foods Group will continue to fill its customers, employees, their families and society with smiles through its food products.