SUMITOMO CHEMICAL COMPANY,LIMITED experienced a crisis after recording a net loss in fiscal 2023. In NO RULES, President Nobuaki Mito (水戸 信彰) discusses the background to his appointment, the V-shaped recovery following structural reforms, and growth strategies including Leap Beyond.
Sumitomo Chemical reported a net loss of ¥311.8 billion for fiscal 2023, described as the worst crisis since its founding. The program reviews the background and developments behind the company’s current V-shaped recovery following the subsequent structural reforms.
The program features Nobuaki Mito (水戸 信彰), Representative Director and President, who explains the intent behind describing the company as a “wounded tiger” and how he became the first president from a technical background in approximately 80 years.
The company’s growth strategy, centered on its new medium-term management plan, “Leap Beyond,” focuses on ICT and mobility and agriculture-related businesses. The program also discusses the company’s approach to organisational development, including Mr. Mito’s stated dislike of the terms “superiors” and “subordinates.”
The program examines Sumitomo Chemical’s next growth strategy and management philosophy, and outlines its prospects through language emphasising the company’s current capabilities. The participants are Nobuaki Mito (水戸 信彰) and Koji Ikeda (池田 光史).