Medium-Term Management Plan (FY2019-FY2023)

Medium-Term Management Plan
(FY2019-FY2023)

Aiming to become a “leading bank that supports the agriculture, fishery and forestry industries, food production and consumption, and the daily lives of local communities,” we strive to catch the winds of change and create new value.

We believe that non-continuous changes will occur during the next 10 years.

In such a situation, we need to optimize our operation to meet customer expectations and continue value creation. Looking ahead to the next 10 years, we reviewed our current operations thoroughly and formulated a five-year Medium-Term Management Plan (FY2019-FY2023), “Catch the Winds of Change. Create New Value.” to change our approach in conducting business and achieve significant innovation.

Looking ahead to the next 10 years, we have formulated our vision of the Norinchukin Group “for the next five years.”

Unprecedented changes are occurring in our business environment such as global compression of profit margins, rapid expansion of digitalization, change in the members’ profile (aging and increasing demand for business expansion), growth in Asia, and environmental and social issues. Although this era of non-continuous changes has resulted in a severe environment for management, we believe that changes and new trends in the society are providing opportunities for growth.
To address the new issues anticipated over the next 10 years, we have formulated our vision of the Norinchukin Group for the next five years—the new Medium-Term Management Plan. To resolve these issues and tackle the challenging task of creating new value, it is important to conduct “customer-oriented business” and “lead the growth of the agriculture, fishery and forestry industries.” To this end, digital innovation, operational reform and sustainability of financial base are indispensable. Therefore, these are set as the core principles in the Medium-Term Management Plan.
We believe that non-continuous changes will occur during the next 10 years.
In such a situation, we need to optimize our operation to meet customer expectations and continue value creation. Looking ahead to the next 10 years, we reviewed our current operations thoroughly and formulated a five-year Medium-Term Management Plan (FY2019-FY2023), “Catch the Winds of Change. Create New Value.” to change our approach in conducting business and achieve significant innovation.

Offer diverse value to the society, cooperating with the cooperative groups.

Under the Medium-Term Management Plan we will share the issues from the perspectives of individual members, users and customers and offer comprehensive services, aiming to solve those issues together with them by focusing on our core strategies for each business. Furthermore, the Bank will strengthen the initiatives from a global perspective to develop the agriculture, fishery and forestry industries, as well as food production and consumption, and revitalize local communities.
In addition to our knowledge nurtured over many years on food and agriculture, as well as finance, we possess a broad network of cooperative associations and a stable financial base. By maximizing these strengths, we will meet customer expectations, bridge domestic and global food and agriculture value chains, enhance the convenience of customers and our productivity, and continue to strengthen our onsite capability and profitability. To fulfill our perpetual mission, aiming to become a “leading bank that supports the agriculture, fishery and forestry industries, food production and consumption, and the daily lives of local communities,” we will strive to realize further sustainable growth and offer value to society together with our cooperative groups.

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