Message to ESG Investors
We would like to express our deepest condolences to the bereaved family members of the victims of the Corona-19 Virus Pandemic (COVID-19). We also wish a speedy recovery for those who have contracted the virus.
The global spreading of COVID-19 has brought about drastic changes to society in such a way that social values and needs of the people are changing at an accelerated rate. Therefore, it is necessary for us to respond to these changes in a flexible manner.
Due to the low birth rate and aging population, we cannot expect major growth in the flavors and fragrances market in Japan. However, the growing trends toward health and fitness leads us to anticipate that there will be increases in demand for health related foods and beverages along with those designed for senior citizens and medical use. Due to the drastic increase in the world population, raw materials for food and beverage products are expected to become short in supply. We believe the lack of supply will increase the demand for flavors and fragrances as a substitute for raw material shortages.
For instance, we are witnessing a trend to use soybeans instead of real meat as a means to combat the depletion of food materials. This technology to impart beef aroma and flavor to plant-based substitute meat is an adaptation of the health and fitness trend and it also helps to contribute to reducing the environmental footprint.
There are limitless possibilities to flavors and fragrances as a means to confront the numerous social challenges that Sustainable Development Goals (SDG’s) aim to solve. In order to pursue “sustainability” through our business of flavors and fragrances, we established the Sustainability Committee which is to be the decision-making body of promoting and driving a sustainable system throughout the entire company.
With the Sustainability Committee being the primary force, we will conduct business concentrating on priority areas stipulated by our CSR Policy in 2020. For details, please refer to our “Sustainability Report 2021”
If you are interested in our business activities by viewing this non-financial information, please see financial information.
Director & Senior Executive Vice President
Chairman of the Sustainability Committee