Our Purpose and Vision

The Bank revisited its Purpose on what kind of contribution we should make to the future for a sustainable environment and society.
The bank established “Important Issues to Achieve the Purpose” as issues to be faced in the medium to long-term and the “Medium-Term Vision” toward FY2030.
The Bank also identified key “shared values” for its senior management and employees, which form the foundation of daily business activities.

Formulation of Purpose of the Bank

Sustainability has become an increasingly significant topic. Discussions and measures are under way globally to address climate change that include achieving the SDGS by 2030 and the Paris Agreement targets by 2050.
Instead of merely formulating a three- to five-year business plan as we have done in the past, we have taken a medium/long-term perspective in redefining our vision of the Bank and the value we provide to society. We also recognize the importance of setting and executing specific goals to achieve these aspirations.
Based on this vision, we have defined our Purpose reflecting the Bank’s vision, value and role that it can offer society by 2050 and the Goals that we will achieve by 2030.

In formulating our Purpose and Medium/Long-Term Goals, we held monthly workshops throughout 2020, attended by the CEO, Directors and Executive Officers.
After putting together forecasts for the global environment and societal changes for 2050 (megatrends), we used the concept of backcasting, carrying out discussions under the following approach.
Details of discussions were shared with the Supervisory Committee members and the Bank employees, and we formulated the plan after receiving opinions and responses to questionnaires.

Megatrends to Keep in Mind Looking Toward 2050

Priority Issues for The Norinchukin Bank