In a changing environment, we aim to build a stronger business foundation and maximize Maruha Nichiro Value (MNV), which combines Economic value, Environmental value, and Social value.
Masaru Ikemi
President & CEO and Representative Director
Maruha Nichiro Corporation
We, Maruha Nichiro Corporation, have been in business for over 140 years. My assessment is that the Medium-term Management Plan is making smooth progress in its second year, including steady improvements in MNEV*1. Yet, as the global market continues to undergo significant changes, it remains a major challenge to develop our organizational capabilities to overcome this tough environment. It is not enough to merely achieve numerical targets. We must transform ourselves into an all-new Maruha Nichiro Group that is driven to embrace new challenges and can survive the next era.
In FY2023, the Group's activities related to sustainability strategies to date have gradually begun to be recognized outside the Group, and we received the “Award from the Minister of State for Special Missions of the Cabinet Office” in the Commendation for Excellence in Consumer-Oriented Management and the “The Commissioner of the Consumer Affairs Agency Award” in the Commendation for Promotion of Food Loss Reduction, among others. The reasons for selection included the use of AI technology, DX promotion, technological developments such as complete bluefin tuna farming and land-based salmon farming, and food loss reduction measures. The goal of our group is to be a company that can create not only Economic value, but also value for the environment, human capital, and society, in response to changes in society. In the short term, economic value may not coincide with Social and Environmental value. Introducing new fishing and aquaculture technologies requires development costs, and switching to renewable energy sources also increases costs. However, I believe that in order for the Maruha Nichiro Group to be chosen by customers and the stock market in the world of the future, it is essential to take a longer-term view of the global environment surrounding the Group and realize a clarified long-term management vision for 2027.
The Group has identified nine materiality areas. While all of them are important, we view that the following two have a direct impact on our business continuity and are closely tied to the Social value we provide, and we are continuously focusing our efforts on them: “Action for preserving biodiversity and ecosystem” (KGI ideal state in 2030: Confirm that there is no risk of resource depletion in the fish stocks we handle); and “Provision of safe and secure food” (KGI ideal state in 2030: Providing safe food to people around the world). The risk of depletion of marine resources is increasing year by year due to global warming. In North American, Northern European, and Oceanian countries where advanced resource management has been implemented, resource continuity is ensured, and the fisheries industry is also growing. Conversely, in Japan, the management bodies are fragmented, with some aspects under national management or local self-management. As a result, Japan lacks science-based resource management, which we view is a major issue. We participate in SeaBOS*2, comprised of eight of the world’s largest seafood companies. As its mission, seafood companies and scientists engage in joint discussions, acknowledging the gaps between them, and work together in an alliance in which participating companies advance stewardship in their countries and share information. Japan’s resource management lags behind other countries. We will continue to actively participate in SeaBOS dialogues, while engaging many stakeholders more than ever before, including the Japanese government, fishing cooperatives, and major seafood companies, on the question: is Japan’s marine resource management appropriate? Domestically, the supply of popularly consumed fish species, such as Pacific saury, squid, and horse mackerel, has declined considerably, making it feel all the more real that there is also increasing resource risk due to climate change. We intend to strengthen our advocacy to ensure that Japan can quickly realize science-based resource management.
As stated in the Maruha Nichiro Group's brand statement “For the ocean, for life” we recognize that taking on the challenge to work on both the health of the Earth and the health of people is the most important theme for the Maruha Nichiro Group in the next era of its existence. We hope that all of our stakeholders have high expectations for the future of the Maruha Nichiro Group.
- *1Maruha Nichiro Economic Value
- *2SeaBOS: Seafood Business for Ocean Stewardship. This global initiative was launched in 2016 to advance collaboration between eight of the world's largest seafood companies and scientists who research the ocean, fishing, and sustainability, with the aim of leading science-based strategies and activities to ensure sustainable seafood production and a healthy ocean environment.
