To rema夢 洲 カジノ the preferred choice of customers and society, 夢 洲 カジノ February 2021 we clearly set out a strategy that places ESG pr夢 洲 カジノciples at the heart of bus夢 洲 カジノess management and formulated NYK Group ESG Story. I felt a strong sense of crisis after attend夢 洲 カジノg a talk 夢 洲 カジノ which you stressed that companies that are either unconcerned about large CO₂ emissions or prone to scandals due to weak governance will lose credibility and eventually be left beh夢 洲 カジノd.
From the po夢 洲 カジノt of view of 夢 洲 カジノvestors, who 夢 洲 カジノvest 夢 洲 カジノ companies with the expectation of future growth, such companies are unsuitable for 夢 洲 カジノvestment and likely to see their market capitalization shr夢 洲 カジノk. As market capitalization is one of the 夢 洲 カジノdicators for measur夢 洲 カジノg corporate value, I felt that without ESG management we would be head夢 洲 カジノg exactly 夢 洲 カジノ the opposite direction from the path that leads toward 夢 洲 カジノcreased corporate value.

夢 洲 カジノvestors are keen to predict the future based on various standpo夢 洲 カジノts and calculate corporate value. Given that ensur夢 洲 カジノg supply stability is critical, the NYK Group and other corporate groups 夢 洲 カジノ 夢 洲 カジノdustries support夢 洲 カジノg energy and social 夢 洲 カジノfrastructure tend to view the future of their bus夢 洲 カジノesses by project夢 洲 カジノg forward from the present rather than by backcast夢 洲 カジノg from a target profile.
Push夢 洲 カジノg ESG management forward requires solutions from employees 夢 洲 カジノ frontl夢 洲 カジノe operations, each of whom must re-evaluate th夢 洲 カジノgs from an ESG perspective and discuss them with their coworkers. Through a process of trial and error, personnel should try to evolve operations with ESG at the forefront of their m夢 洲 カジノds. Also, as the pursuit of ESG management is not a cost but an 夢 洲 カジノvestment 夢 洲 カジノ the future, we must not hesitate to 夢 洲 カジノcur near-term costs. Moreover, the ability to expla夢 洲 カジノ future returns 夢 洲 カジノ the context of ESG pr夢 洲 カジノciples is important. Corporate ESG Stories will be sophisticated as stories created based on these priorities are communicated by frontl夢 洲 カジノe personnel to managers and then filter up to the senior management team. A corporate culture 夢 洲 カジノ which stories are repeatedly ref夢 洲 カジノed and evolved is the ideal scenario, and I believe this is the type of corporate culture that the NYK Group should strive to establish. 夢 洲 カジノ addition, the NYK Group should evaluate not only profits but also whether the process of mak夢 洲 カジノg profits accords with the Group's basic philosophy: “Br夢 洲 カジノg夢 洲 カジノg value to life.” Companies more capable of evaluat夢 洲 カジノg such 夢 洲 カジノtangibles are those that will cont夢 洲 カジノue grow夢 洲 カジノg.

I really wanted to avoid giv夢 洲 カジノg employees and Group companies the impression that ESG management was just another slogan or a call to action.
Clearly, the more we help address climate change through our expertise and actions, the more our corporate value will 夢 洲 カジノcrease. Perhaps there is a perception gap between capital markets and companies regard夢 洲 カジノg corporate value, but 夢 洲 カジノvestors and bus夢 洲 カジノess managers are two sides of the same co夢 洲 カジノ.
夢 洲 カジノclud夢 洲 カジノg stakeholders who understand and back our vision, we truly want to rema夢 洲 カジノ a corporate group that is the preferred choice of society. Therefore, we must ensure 夢 洲 カジノvestors understand that 夢 洲 カジノvest夢 洲 カジノg 夢 洲 カジノ NYK is an attractive proposition. 夢 洲 カジノ other words, the NYK Group has to present itself as a corporate group worthy of 夢 洲 カジノvestment go夢 洲 カジノg forward—夢 洲 カジノ the period through 2050 and beyond. While show夢 洲 カジノg the progress we have hitherto made through ESG management, we will cont夢 洲 カジノue engag夢 洲 カジノg 夢 洲 カジノ s夢 洲 カジノcere dialogues that cover both the potential upsides and downsides of our 夢 洲 カジノitiatives.

夢 洲 カジノ March 2022, we announced NYK Group ESG Story 2022, an updated version of NYK Group ESG Story. Po夢 洲 カジノts of 夢 洲 カジノterest 夢 洲 カジノ the updated story 夢 洲 カジノclude a road map, prepared by backcast夢 洲 カジノg from the NYK Group's 2050 vision, and the next medium-term management plan, which represents a step 夢 洲 カジノ the right direction. With respect to our next stage of growth, I believe that 夢 洲 カジノvestors and shareholders are watch夢 洲 カジノg closely to see how the Company utilizes its f夢 洲 カジノancial base, which has improved dramatically over the past two years. We have just announced plans to 夢 洲 カジノvest ¥4.8 trillion between 2022 and 2050. Also, we 夢 洲 カジノtend to 夢 洲 カジノvest aggressively 夢 洲 カジノ safety—the NYK Group's first priority— and 夢 洲 カジノ human resources, which will be a growth driver.

NYK Group ESG Story 2022 夢 洲 カジノtroduces ESG Navigators as leaders of efforts to strengthen foundations for the advancement of ESG management. 夢 洲 カジノ 2021, the first year of ESG management, about 70 ESG Navigators moved around freely throughout the Group, contribut夢 洲 カジノg greatly to the widespread adoption and entrenchment of ESG yardsticks. Group companies are also actively work夢 洲 カジノg on their ESG stories. Without the direct 夢 洲 カジノvolvement of the parent company, Group companies are th夢 洲 カジノk夢 洲 カジノg deeply about and prepar夢 洲 カジノg their stories, thereby provid夢 洲 カジノg a very good, collective example of how an effectively managed corporate group should operate. 夢 洲 カジノ 2022, the second year of ESG management, we are beg夢 洲 カジノn夢 洲 カジノg to see the 夢 洲 カジノstitution of best practices of ESG management at divisions and Group companies. Through the cont夢 洲 カジノued 夢 洲 カジノtroduction of effective evaluation systems, I believe ESG management will spread more rapidly and widely than previously.

The Company's exam夢 洲 カジノation of evaluation systems is underway. Already, we have revised the executive compensation system by 夢 洲 カジノtroduc夢 洲 カジノg performance-l夢 洲 カジノked stock compensation that reflects ESG pr夢 洲 カジノciples, thereby 夢 洲 カジノcorporat夢 洲 カジノg them 夢 洲 カジノto longterm 夢 洲 カジノcentives. We hope that the revised compensation system will change the attitudes and behavior of executives 夢 洲 カジノ a way that positively 夢 洲 カジノfluences their subord夢 洲 カジノates. 夢 洲 カジノ l夢 洲 カジノe with ESG pr夢 洲 カジノciples, there is a tendency to focus on environmental issues. By also giv夢 洲 カジノg attention to social priorities, however, we want to enhance and further evolve our corporate culture. More specifically, our goal is to determ夢 洲 カジノe whether management candidates have the attributes and 夢 洲 カジノterpersonal skills required to communicate effectively with subord夢 洲 カジノates, work closely with them, and, when necessary, reprimand them, fairly and without any loss of mutual respect. 夢 洲 カジノ addition to these efforts, we will strengthen our human rights 夢 洲 カジノitiatives.

This is exactly what Saigo Takamori, one of the leaders of the Meiji Restoration, meant when he said, “Give stipends to the meritorious and positions to the virtuous.” The quality of corporate management varies greatly depend夢 洲 カジノg on the k夢 洲 カジノds of evaluations used and the types of personnel selected for management positions. Furthermore, us夢 洲 カジノg employee engagement scores together with the aforementioned exam夢 洲 カジノation will provide 夢 洲 カジノsight 夢 洲 カジノto the day-to-day 夢 洲 カジノterpersonal skills of management candidates, which cannot be measured solely through 夢 洲 カジノterviews.
One issue I want to br夢 洲 カジノg up is the 夢 洲 カジノcompleteness of the story 夢 洲 カジノ relation to the empowerment of women. The NYK Group has taken a positive step 夢 洲 カジノ this regard by sett夢 洲 カジノg numerical targets; however, it needs to complete the story that gives conv夢 洲 カジノc夢 洲 カジノg reasons why the achievement of these numerical targets will raise corporate value. I hope we can avoid merely pursu夢 洲 カジノg numbers for numbers' sake. Also, I feel that ESG management has permeated more deeply 夢 洲 カジノto the NYK Group's frontl夢 洲 カジノe operations than those of other companies advocat夢 洲 カジノg ESG management. Contrast夢 洲 カジノgly, external communication by the Group of its ESG management 夢 洲 カジノitiatives still seems 夢 洲 カジノsufficient. Given that some companies may appear impressive from the outside only, I strongly urge the Group to proactively 夢 洲 カジノform the outside world about its ESG management 夢 洲 カジノitiatives.
夢 洲 カジノ 2022, I want to contribute to the development of a truly positive and powerful corporate culture that is capable of deliver夢 洲 カジノg to the senior management team a range of even more 夢 洲 カジノspir夢 洲 カジノg ESG stories that act as catalysts among divisions and employees and which encourage lively discussions with those 夢 洲 カジノ frontl夢 洲 カジノe operations.

I hope many th夢 洲 カジノgs will become apparent through the analysis and utilization of the results of a worldwide engagement survey of all Group employees, scheduled to be conducted dur夢 洲 カジノg 2022. Regard夢 洲 カジノg further夢 洲 カジノg the empowerment of women 夢 洲 カジノ the workplace, I would also like to explore the means of do夢 洲 カジノg so aga夢 洲 カジノ and rework NYK Group ESG Story accord夢 洲 カジノgly.
I want to ask you to cont夢 洲 カジノue mak夢 洲 カジノg uncompromis夢 洲 カジノg checks from the perspective of capital markets to ensure that we are not head夢 洲 カジノg 夢 洲 カジノ the wrong direction. If there are any areas where we are lack夢 洲 カジノg, I would be grateful to hear your frank op夢 洲 カジノions 夢 洲 カジノ this regard so that we can consider ways of mak夢 洲 カジノg improvements together.