Build a "Theme Park for the Security,Health, and Wellbeing of Customers"
I would like to express my gratitude for the continued support of all our stakeholders.
Fiscal 2015, the year ended March 31, 2016, was the final year of the Sompo Holdings Group's previous Mid-Term Management Plan.Through a concerted effort, the Group realized initial targets.
Looking ahead, we have begun a new Mid-Term Management Plan covering the five years from fiscal 2016. Volatility, uncertainty, complexity, and ambiguity (VUCA) are features of the current era. Based on the new plan, we aim to evolve into a group that has the strength and agility to adapt to and win out in challenging business conditions characterized by discontinuous changes and uncertainty.
The new Mid-Term Management Plan sets out building a "theme park for the security, health, and wellbeing of customers" as an overriding goal. We set this goal to realize the Group Management Philosophy, which calls on us to "contribute to the security, health, and wellbeing of customers and society as a whole by providing insurance and related services of the highest quality possible." We will develop appealing, differentiated services and businesses by advancing digital strategies, seeking new business opportunities, enhancing the quality of existing businesses, extending service areas, and realizing collaboration among businesses.
The domestic P&C insurance business will heighten quality and efficiency and remain the Group's core business and growth driver.
Positioning the period of the new Mid-Term Management Plan as a "second founding" phase, the domestic life insurance business aims to transcend the boundaries of life insurance and evolve into a health support enterprise that helps customers become healthy.
Further, we entered the nursing care and healthcare business in earnest in fiscal 2015. Among listed nursing care providers, we have the largest number of residential rooms for seniors in the industry and the secondhighest sales. By simultaneously ensuring the dignity and independence of the elderly and providing safer and more reliable nursing care services, we will help realizing "Japan, an affluent country that can boast to the world of a long and quality life."
The overseas insurance business aims to maximize earnings in developed countries and emerging countries by further strengthening operations, growing organically, and implementing mergers and acquisitions (M&A) in a disciplined manner. These efforts will include Sompo Canopius, which became a subsidiary in 2014 and operates mainly in the United Kingdom—and entail strengthening operations in countries and regions where we already have foundations, such as Brazil, Turkey, and South Asia.
In addition, the name of the Group’s holding company will change to Sompo Holdings, Inc., on October 1, 2016. In the Group and on a global basis, we will further strengthen SOMPO as a brand synonymous with "security, health, and wellbeing."
Continuing to evolve with a view to realizing a "theme park for the security, health, and wellbeing of customers," the Group's employees will make a concerted effort to meet the expectations of stakeholders.
As we take on new challenges, we sincerely ask for your continued support and encouragement.