The current economic environment which we find ourselves in is marked by rapid changes which are due to many factors such as the intensifying trade war between the United States and China, the rise of Asian nations such as India and the ASEAN member countries, a borderless global market due to the expansion of FTAs and EPAs, the shift by Japanese manufacturers toward overseas bases, political instability in the Middle East, and turmoil in the global economy caused by the novel coronavirus. Our business activities must be able to respond to such changes in political, economic and environmental conditions.
During such complex times, trading companies can no longer meet the needs of the times by simply carrying out existing trading functions such as the allocation of people, goods and money, but we must also shift to other businesses such as risk hedging, investment and consulting. However, even in such an environment, the original purpose of a trading company, to provide a bridge between market needs on one side and products and technologies on the other remains fundamentally important, and we continue to carry out our daily business in the belief that it is the most important way for us to contribute to society.
Through extensive support from everyone, in April 2019 we were able to celebrate the 100th anniversary of the founding of our company.
We value the unwavering relationships of trust we have built with customers and business partners both within Japan and overseas during our long history spanning more than 100 years. By increasing our expertise and information gathering capabilities through our business knowhow and technological strengths and utilizing the frontier spirit which has been the driving force of our company since its inception, we hope to continue providing the fullest level of satisfaction for our customers and business partners by providing functions and services which are suitable for our modern era.
We aim to be a pioneer for the future while sharpening our understanding of the trends of modern times, implementing CSR positively and working to develop new markets, products and business areas and actively applying our new business models.