Message from the CEO
I would like to express my sincere gratitude to all our stakeholders for your continued generous support of The Norinchukin Bank's operations.
As the newly appointed President and Chief Executive Officer of The Norinchukin Bank (“the Bank”), I am both humbled and honored to assume this significant responsibility during these challenging times. While we face certain obstacles, I am invigorated by the opportunity to navigate these challenges and steer the Bank toward a successful and sustainable future.
The Bank celebrated its centenary in 2023 and has now embarked on its journey toward the next 100 years. Since our founding in 1923, we have inherited the spirit of mutual assistance that forms the foundation of cooperative organizations. Under the new management structure, I will lead our officers and employees as we work together with full commitment to create a new Norinchukin Bank that meets the expectations of our members, business partners, and all stakeholders.
In the financial markets last fiscal year, while central banks implemented interest rate cuts in response to slowing inflation, particularly in the United States and Europe, we also witnessed periods of rising interest rates following the U.S. presidential election. Amid this volatile and uncertain market environment, the Bank has worked to improve its portfolio with the aim of strengthening its medium- to long-term profitability.
Furthermore, with the understanding and cooperation of our members in our capital enhancement, we have made steady progress toward establishing stable profitability and a robust revenue base, while maintaining our soundness. While continuing to prioritize financial improvement, we will fulfill our role of providing stable returns and contributing to the development of the agriculture, fishery, and forestry industries, guided by our Purpose and our “Medium-Term Vision,” which sets forth five visions for the Bank for 2030.
Finally, the Bank, together with JA Bank, JF Marine Bank, and the JForest Group, will maintain its efforts to be a trusted financial institution as well as an organization that can fulfill roles and functions unique as a cooperative. We will also continue, with an eye to addressing environmental and social issues, to promote initiatives that foster the development of the Agriculture, Fishery, and Forester ("AFF") industries and the communities in which these industries are active. We ask for your continued support.
April 1, 2025
KITABAYASHI Taro
President and Chief Executive Officer