In April 2017, JX Holdings, Inc., and TonenGeneral Sekiyu K.K. implemented a business integration and made a fresh start as JXTG Holdings, Inc.
Our business environment is expected to become even more challenging in the years ahead due to a number of factors. These include the structural decline in fuel oil demand in Japan, intensified competition in global markets, and fluctuations in the prices of crude oil, copper, and other natural resources.
In this environment, the JX Group and the TonenGeneral Group needed to further strengthen their business foundations in order to fulfill their social mission of providing a stable supply of energy and to increase their corporate value. Both groups believed that the best way forward would be to create a robust corporate group by combining their management resources and strengths. Accordingly, we implemented the business integration.
With sales of approximately ¥10 trillion, the JXTG Group has become one of the leading company groups in Japan. The Group has moved on to a new stage of operations-one that is higher and more expansive. From this new stage, we will aim even higher by extending the reach of our aspirations and broadening our horizons.
We have also formulated the JXTG Group Philosophy, which comprises the mission and our five core values, and the JXTG Group Medium-Term Management Plan FY2017-FY2019. This plan, positioned as our “Execution Plan for a Drastic Transformation,” outlines our future direction and the course of our transformation.
Moving forward, the JXTG Group will strive to fulfill its mission, which states that we will “contribute to the development of our communities and help to ensure a vibrant future through creation and innovation in energy, natural resources, and materials.” To that end, we will aim to become “one of the most prominent and internationally competitive comprehensive energy, natural resource, and material company groups in Asia.”