Guided by its corporate philosophy, "Loved by citizens, working for citizens," The CITIZEN Group has been operating for over 100 years. Applying its technological prowess in miniaturization, precision machining, low power consumption, and automation, which has been developed through the manufacture of watches, the Group has grown into a corporate group that also owns Machine Tools and Devices & Components Businesses while adapting to changes in the social environment.
Since FY2019, we have been committed to "sustainable management," and striving to solve social issues through business activities. By the term "sustainable management," we mean not only providing excellent products and services but also expanding our business while earning the trust of our stakeholders by paying due consideration to social issues such as human rights and the global environment throughout the value chain, thereby continuing to enhance our corporate value.
With a view to fulfilling CITIZEN Group Vision 2030, "Crafting a new tomorrow," we have identified five material issues: Responding to Climate Change and Contributing to a Recycling-Oriented Society; Contributing to Better Quality of Life; Providing Solutions in the Industrial Sector; Enhancing Job Satisfaction and Developing Human Resources; and Fulfilling Social Responsibility. To tackle these issues, we manage specific targets throughout the Group.
We also recognize being thoroughly prepared for geopolitical and natural disaster risks as a critical challenge. We will appropriately manage these risks and adopt effective measures to ensure business continuity to protect the safety of our employees and local communities and strengthen the foundation for sustainable management.
Our core technologies, centered on precision machining, have created various forms of social value, such as energy conservation, reliability, and safety, supporting the watch industry and the manufacturing sector worldwide. Furthermore, our efforts to enhance the stability of our business portfolio and reduce our dependence on particular markets or single technologies have made us highly resilient to changes in the external environment. We will continue to leverage our strengths as such across our businesses with the aim of increasing our corporate value over the medium to long term.
We look forward to your understanding and support.