During the nine months under review, the global economy generally recovered, although there was concern about uncertainties regarding policy operations in the United States and the growing geopolitical risk. In Western countries, economies showed signs of a pick up in consumer spending, reflecting a rise in stock prices as well as continued improvements in the employment and income situations. In Asia, the economy was on a recovery trend overall on the back of solid internal and external demand in emerging economies.
In Japan, the economy continued to show a moderate recovery, given signs of a rebound in capital spending as corporate earnings remained strong.
Under this environment, based on the “Medium-Term Management Plan 2021,” of which term covers five years from the fiscal year ending 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.