Medium-Term Vision

Medium-Term Vision

1. The Medium-Term Vision (Nochu Vision 2030 - Taking on challenges of a changing world as we look to the future -)

　The Bank positioned the “Vision for 2030” as the “compass” of our management and established the following visions. We believe that moving toward these five visions in response to changes in the environment surrounding the Bank Group will lead to our Purpose.

2. Concept of the “Vision for 2030”

　Climate change, loss of biodiversity, and nature deterioration, which are directly linked to the “life” of people, organisms, and the planet, are becoming more urgent to be addressed. Currently, public and private sector efforts toward net zero are rapidly accelerating. The momentum for achieving nature positive by reversing the loss of biodiversity has also expanded rapidly, as we see the publication of the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations. We believe that such momentum will accelerate further toward 2030. In addition, in order to address these issues collectively, we believe that the perspective of realizing a circular economy will be indispensable.
　With the foundation of the agriculture, forestry and fisheries industry and the investment and lending in the global financial markets, the Bank Group will work together with officers and employees to address the issues facing the planet and regions. We will work on creating positive impact*1 with the power of cooperative organizations and finance to achieve sustainable environmental, social and economic development.

(*1) Positive effects on the environment, society and economy through business activities

　Population decline, low birthrates, and aging are progressing, and there is a shift in engaging entities from individuals toward corporates in agricultural, forestry and fisheries industries. As the smart agri market develops toward 2030, we believe that the use of “food & agriculture x digital” will further accelerate, such as labor replacement using robot tractors and drones. In addition, we expect the increased awareness of building domestic production bases and circular agriculture, which are the foundations of food security.
　Under such circumstances, while considering “increasing the income of farmers, fishermen and foresters” as a major goal, the Bank Group will develop data businesses such as providing advisory functions using digital IT technologies, build “glocal” value chains that are not bound by existing value chains. Through these efforts, the Bank works toward the sustainable development of people in agriculture, forestry and fishery industries and cooperative organizations.

　With the acceleration of population shift to urban areas, there are increasing expectations on and social values of JA and JF, which provide multi-business functions, as important players in regional economies and infrastructure. As we move toward 2030, we believe that while non-face-to-face financial channels will expand due to the rapid development of digital services, customers will increasingly require the provision of face-to-face and highly specialized advice and consultation functions as well.
　Based on the recognition that both the approach to a wide range of customer groups using digital and the provision of highly specialized services in physical stores are essential, we will continue to enhance systems, utilize sales support functions, improve the UI and UX of non-face-to-face channels, and strive for the optimal integration of digital and real. Through these efforts, the Bank will continue to support JA and JA to further demonstrate their enhanced financial intermediation and their strengths of multi-business functions, creating values that impress cooperative members and users.

　The environment surrounding the financial industry is changing significantly with the end of great moderation (low inflation, low interest rates, low volatility), the return of a world with interest rates, and the increasing frequency of policy adjustments. As we move toward 2030, we believe that structural and significant changes in the financial business will further advance due to factors such as increased entry into the financial services from different industries, development of digital technology, and acceleration of M&A and business alliances.
　Even amid such major changes in the environment, the Bank Group will work together to flexibly respond to the rapidly changing market environment and the needs of customers and business partners. We build and maintain a sustainable financial and revenue base by reviewing its investment and lending portfolio and taking on challenges of new areas and fields. With these efforts, the Bank will ensure stable returns to its members and plays its role as the national level banking institution for Japan’s agricultural, fishery and forestry cooperatives.

　With discontinuous changes such as the rapid development of digital IT technologies and changes in consumer purchasing behavior, we expect that the scale and speed of environmental changes will further increase. In order to respond to these discontinuous environmental changes and enhances corporate value in the long term, we recognize the increasing importance of human capital management that regards human resources as capital and maximizes their value.
　Under such circumstances, the Bank Group will pursue a flexible and resilient organization, taking on challenges for change. Advancing our expertise based on human resources with diverse ideas, we will create new business value and improve productivity through the penetration of the use of digital IT technologies and data.