Constant Mission over 100 Years:
―Supporting and contributing to the progress of the agriculture, fishery, and forestry (AFF) industries with the cooperative system
Since its establishment in 1923, the Bank has been managed under special legislation, initially “Sangyo Kumiai Chuo Kinko Act” (Act on the Central Bank for Japan’s Industrial Cooperatives) and renamed subsequently to “the Norinchukin Bank Act.”
Our mission is and has always been to support the progress of the AFF industries. We have continued to provide support for everyone engaged in the AFF industries in cooperation with the cooperative system for over 100 years while constantly transforming in line with changes in the times and the environment surrounding them.
1923～
Meeting the demand for funding in the AFF industries before and after World War II
The Bank was established in 1923 to address the shortage of funds Japan’s AFF industries had faced during pre- and post- world war periods, until Japan entered into the era of high economic growth.
As a financial institution founded on AFF cooperative organizations, the Bank has supplied funds to AFF cooperatives throughout Japan, which in turn have provided loans to producers and meet the demand for large-scale funding beyond the capacity of individual cooperatives. The basis of these actions stems from our spirit of helping one another—“one for all, all for one.”
1970～
Responding to the increase in
JA savings due to economic growth
Since the 1970s, when JA savings deposited by individual members and local users increased considerably, we have met Japan’s strong demand for funds through loans and investments for companies related to the AFF industries, the supply of funds to Japan’s short-term capital markets, and investment in Japanese government bonds.
Moreover, from the latter half of the 1990s, we quickly moved into top gear on globally diversified investments in global financial markets. To fulfill our constant mission amid changing times and circumstances, we have continuously devoted energy to returning stable earnings to members of JA, JF, and JForest even as the financial environment changes constantly.
2002～
Contributing to the AFF industries and local communities together with cooperative system
Given changes in the environment surrounding the AFF industries and shifts in economic and financial circumstances, we launched the JA Bank System and the JF Marine Bank System, shifting our management toward a unified approach with the cooperative system.
We strive to fulfill our role as a national level institution of cooperative system, particularly in reconstruction efforts in the wake of the 2011 Great East Japan Earthquake, in which we created the Reconstruction Support Program and provided full-strength, multifaceted support to farmers, fishermen, foresters, and our members in afflicted areas.
Additionally, in an effort to strengthen our ongoing initiatives, we launched the Food and Agriculture Business, leveraging our deep ties with producers and longstanding business relationships with food and agriculture-related companies with the aim of enhancing the food and agriculture value chain from producers to processors, distributors, restaurants, retailers, exporters, and consumers.
2019～
Toward achieving sustainable development of
AFF industries
Global warming, typhoons, and other disasters are causing more severe impacts on the AFF industries each year. Our officers and employees repeatedly reconsidered how we can contribute to the world amid the unstable global situation, social issues, and other drivers of uncertainty, and determined our Purpose so that we can work with our stakeholders to figure out and make those contributions.
In this context, we began sustainability management initiatives with the aim of addressing environmental and social issues through our business and initiatives. To commit to these initiatives and fulfill them as a promise to our stakeholders, we added “increase the income of farmers, fishermen, and foresters” to our targets of decarbonization and organizational diversity.
We need leaders to support and make sustainable the progress of the AFF industries, and in order to increase the number of these leaders we need to increase incomes. With this in mind, we are promoting various initiatives.
2023
The 100th Anniversary
2024～
Formulating the Medium-Term Vision with
an eye toward the future, even in a discontinuous era
For the past 100 years, the Bank has operated its business with a strong commitment to the maintenance and development of the AFF industries.
However, we are entering into a discontinuous era characterized by an increasingly challenging business environment and an accelerated pace of change.
Based on the idea that management that responds flexibly and nimbly to these changes is important in order to achieve our Purpose, we have formulated the Medium-Term Vision of the Norinchukin Group targeting the near future (2030) by back-casting from environmental and social changes that can be expected to occur.
We will operate our business by positioning the five “visions” set forth in our Medium-Term Vision as the compass of our management.
