Mitsui O.S.K. Lines, Ltd. (MOL) celebrated its Foundation Day with a message from President & CEO Takeshi Hashimoto. As the company commemorated its 140th anniversary, Hashimoto reflected on the journey of Osaka Shosen Kaisha (OSK Line), one of MOL’s corporate roots founded in May 1884. Despite navigating through numerous global challenges and economic upheavals, MOL has significantly contributed to the development of both Japanese and global economies through its maritime endeavors.
Hashimoto emphasized the relentless spirit of challenge ingrained within MOL’s culture, passed down through generations. He acknowledged the complexities of the current business landscape, highlighting factors such as geopolitical tensions, global economic trends, and environmental concerns. Despite these challenges, MOL remains steadfast in its commitment to realizing its corporate mission, fostering global economic growth, and addressing environmental and social issues as a key player in the maritime industry.
Reviewing ‘BLUE ACTION 2035’ and Initiatives for FY2024
Reflecting on the previous year’s management plan, “BLUE ACTION 2035,” Hashimoto outlined the strides made in business portfolio reforms and investments. The plan, initiated a year ago, aimed to propel MOL towards its vision for 2035. Notable accomplishments included advancements in the energy sector, acquisitions, and strategic alliances. The company’s regional strategy also bore fruit, with promising investment opportunities emerging worldwide.
Looking ahead to FY2024, Hashimoto stressed the importance of continued investment while exercising prudent financial management. To navigate the rapidly evolving business landscape, MOL has established an Advisory Board to provide independent expertise in strategic decision-making. Additionally, the company will embark on a project to transition to international accounting standards, enhancing its access to overseas capital markets.
Focusing on Human Capital, Digital Transformation, and Safety
Hashimoto underscored the significance of human capital development, particularly in response to the organization’s rapid expansion. Initiatives to reform the personnel system aim to create an environment conducive to individual growth and diversity. The reopening of the company cafeteria and the establishment of a new training facility signify MOL’s commitment to fostering a supportive workplace environment.
In line with its Digital Transformation (DX) vision, MOL has consolidated its efforts under the Headquarters of Technological & Digital Transformation. The integration of digital technologies aims to address societal challenges while optimizing operations. Safety remains paramount, with the establishment of clear safety goals and ongoing efforts to enhance safety protocols and systems.
Advancing Regional Strategy and Embracing New Challenges
As MOL continues to pursue its regional strategy, Hashimoto highlighted the importance of collaboration across corporate, business, and regional organizations. The cruise business, positioned as a new growth area, is set to reach new heights with the launch of “MITSUI OCEAN CRUISES” and the debut of the luxury-class cruise ship, the “MITSUI OCEAN FUJI.”
Hashimoto expressed optimism for the future, reaffirming MOL’s commitment to tackling global challenges while upholding its core values of safety, quality, and compliance. As the company embarks on its 140th year, the message resonates with a sense of determination and optimism for the journey ahead.
