Message from the President

Utilizing timber as the gift of time to realize Timberized Eco City through W350 plan for a sustainable future. President and Representative Director Akira Ichikawa

Corporate Philosophy

The Sumitomo Forestry Group utilizes wood as a healthy and environmentally friendly natural resources to provide diverse range of lifestyle-related services that contributes to the realization of a sustainable and prosperous society. All our efforts are based on Sumitomo’s Business Spirit, which places prime importance on fairness and integrity for the good of society.

A Step Towards Future with Renewed Corporate Philosophy

In April this year, the Sumitomo Forestry Group has reviewed its value structure which was established in 2001 and revised part of its Corporate Philosophy and Action Guidelines. In comparison to when our main businesses were in timber & building materials, custom-built housing, and forestry, business areas and countries we operate in have expanded and the number of employees and net sales have nearly doubled. We have entered housing markets in the U.S. and Australia while in Japan also entered new areas of businesses, such as private-pay elderly care facilities with nursing and day service as well as wood biomass power generation business. Concurrently, social and economic environment in Japan and overseas has changed drastically and we have reached an age where a company's raison d'être are put to question.

In response to these changes, we revised our corporate philosophy from future-oriented and global perspectives, taking in new elements while also maintaining our core values. The Sumitomo's Business Spirit underlies our business approach, represented by one aspect, "seeking benefits for the individual, the nation and society as a whole."

The Sustainable Development Goals (SDGs) set by the United Nations in September 2015 are 17 global goals that the world should achieve by 2030. In addition to the nations’ efforts, companies are expected to contribute as well and these goals matches the aim of our Group's corporate philosophy. The Sumitomo Forestry Group will cooperate with various stakeholders to contribute in achieving the SDGs targets.

Our Responsibilities of Handling "the Gift of Time"

"Sustainability" became a frequently used term as represented in the SDGs. I believe this is a reflection of our regrets of focusing too much on short-term gains which resulted in negatively affecting various social and environmental aspects. That is why we are taking more long-term perspective, recognizing the value in taking proper time.

For example, while new timber has its own beauty, ten years later, there will be different kind of charm to it. With the knowledge in characteristics of the wood and with proper maintenance, a different charm will appear as it ages and become a precious asset. Sumitomo Forestry calls a value that can be passed down over generations as "the gift of time."

Trees take long time to grow but it can be cut, used, planted, and grown again as a renewable natural resource. It also absorbs CO2 and fixes it during their growth, playing an important role in mitigating global warming. We believe it is our duty and responsibility to engage in sustainable forest management, procurement, and logistics to seek the expansion of use of wood from housing to medium to large-size buildings so more people can feel the value of wood.

W350 Plan to Pursue Possibilities of Wood

Sumitomo Forestry has announced its W350 Plan in February 2018 as a technology roadmap to realize Timberized Eco City. This is a long-term project that aims to build a 350-meter-tall wooden high-rise building in 2041, which will mark the 350th anniversary of our foundation. We will engage in research and development in wide range of fields including construction methods, environmentally-friendly technologies, and new wood materials.

We hope to bring innovation in both the forest management and use of wood to make living in cities and the lives of people sustainable ones. With this in mind, we will continue to advance the W350 Plan to create Timberized Eco Cities where people, trees, life and the plant can coexist.

We have set for the first time a long-term target for 2030 to reduce greenhouse gases. Our target of 21% reduction compared to fiscal 2017 by 2030 is recognized by the Science Based Targets (SBT) initiative and consistent with the Paris Agreement of keeping global temperature increase below 2 degrees Celsius compared to pre-industrial level.

The CSR Report 2018 is published as a measure to communicate with all of our various stakeholders, from shareholders, customers and business partners to employees and local communities, by focusing on our non-financial initiatives. We have also published an integrated report that includes information for both our efforts toward ESG and our corporate performance since the previous year. We hope you will make use of both reports to better understand the future of the Group we envision and how we strive to reach that goal.

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