Friends and Stakeholders,
As we enter the last phase of our midterm plan, "New Strategic Direction," we face a number of unprecedented challenges in the global economy. Growth in emerging economies has slowed while commodity prices remain low. There are also concerns that we could see greater volatility in both financial and commodity markets. Meanwhile, confusion in the Middle East and the globally escalating threat of terrorism have also further clouded the economic landscape and magnified geopolitical risk.
Notwithstanding this challenging environment, Business Groups, Corporate divisions, and other organizations across the MC Group have all been tasked with transforming their strategies in line with our 2020 growth targets, and so far they have made tangible progress. They have also been developing new businesses that will serve as the foundation of MC's future. The MC Group has never faltered in the face of adversity, and I'm sure that by continuing to do the right thing at the right time, we'll make steady progress towards achieving our 2020 vision.
In the true spirit of the MC Group, we also remain committed to our responsibility of making impactful contributions to society as we develop our business. This March will mark five years since the Great East Japan Earthquake and Tsunami struck Northeastern Japan. Over that period, we have provided support for more than 40 local enterprises through the Mitsubishi Corporation Disaster Relief Foundation. That contribution has begun to bear fruit and we intend to continue our proactive engagement in Tohoku in an effort to help stimulate employment generation and economic revitalization in the region.
As we press on with our efforts to achieve sustainable growth, the MC Group is resolutely committed to ensuring that our activities reflect the guiding philosophy encapsulated in our Three Corporate Principles - that is, to create sustainable corporate value by helping to solve global problems through business.
President and Chief Executive Officer