A new Mid-Term Management Plan started in FY2021. Since it is difficult to predict the future with certainty in the VUCA age, this plan covers a three-year period through FY2023.
The new Mid-Term Management Plan describes in detail the initiatives that will be undertaken over the next three years based on the vision for society and value delivered to society as outlined in SOMPO’s Purpose. By making steady progress on the three core strategies derived from SOMPO’s Purpose—Scale and Diversification, New Customer Value Creation, and New Work Style—the company aims to achieve the goals of adjusted consolidated profit of ¥300.0bn or more and adjusted consolidated ROE of 10% or higher.
|Three Core strategies
||Scale and Diversification
||In order to have a strong business foundation that can withstand rapid changes in the environment, such as increasingly servere natural disasters and spread of COVID-19, progress will be made toward improving profitability and productivity and expanding the customer base mainly in the insurance and nursing care businesses. We will also grow businesses and profits by utilizing M&A and other means to reform our business portfolio and enhance capital efficiency.
||New Customer Value Creation
||In addition, we will capture the tide of change brought about by digital technology and data, and aim to deliver unprecedented value by focusing on the new business development in areas with a high affinity to existing business and building a Real Data Platform that organically links real data from each business and field (actual data obtained from society and daily life).
||New Work Style
||In order to ensure sustainable growth for the group, it is essential to increase job satisfaction and happiness of each and every employee and achieve high productivity. We will push forward with various system reforms and human resources development to become a group of talent that embodies our three core values (mission-driven, professionalism, and diversity & inclusion).