During the consolidated fiscal year under review, the global economy generally recovered, although there was concern about uncertainties regarding policy directions in the United States and Europe and the effects of fluctuations in the financial and capital markets. In Western countries, economies showed a steady recovery, reflecting an expansion in consumer spending against a backdrop of favorable employment and income conditions. In Asia, including China, the economy also continued to recover owing to solid internal and external demand.
In Japan, corporate earnings remained firm on the back of this growth in the global economy. Consumer spending also recovered, reflecting continued improvements in the employment and income conditions, and the economy continued to recovery moderately.
In the instant noodles industry, total worldwide demand recovered to 100 billion units, reflecting growth in demand in many regions including Asian emerging countries. Domestic total demand reached a record high.
Under this environment, based on the “Medium-Term Management Plan 2021,” of which term covers five years from the fiscal year ended March 31, 2017, to realize the improvements of “Earning power through operations” and “Value in capital markets,” we are working on the strategic themes such as 1) Promoting global branding, 2) Focusing on priority overseas locations, 3) Laying stronger foundations for our domestic profit base, 4) Establishing a second pillar that generates revenue and profit, 5) Developing and strengthening human resources for global management.