We wanted to build a sustainable society
and global environment.
We thus declared our commitment
to march forward toward our vision.

In this environment, MARUI GROUP was among thewhile, climate change was affecting people around theMARUI GROUP was in the process of cultivating a cor­world through frequent natural disasters and otherporate culture in which all employees were inspired

impacts, making it impossible to ignore the severity

to practice autonomy and participate in guiding theof climate issues. It was an era characterized by theCompany. Accordingly, we were able to take ESG beyond­unprecedented emergence of dichotomies.

a philosophy, transforming it into a business strategy inThis was the backdrop for the start of MARUI

the hands of employees who exercised ownership. The

GROUP’s co-creation sustainability management.

result was improved corporate value.

­Furthermore, the process of thinking about management

On March 31, 2018, MARUI GROUP’s stock pricefrom a long-term perspective looking 30 years down thewas over 2.2 times higher than on March 31, 2013,line made us realize something important.

prior to our embracing ESG initiatives, exceeding theUp until that point, MARUI GROUP had been

growth rate for earnings per share over the same five-working for the benefit of stakeholders, namely custom-year period by approximately 30 percentage points.

ers, investors, business partners, society, and employees.

Meanwhile, across-the-board declines in price earnings

However, we realized that we were forgetting another im-

ratios were seen among the department stores and credit

portant group of stakeholders: future generations. Thiscard ­companies that were our rivals. The higher valuation

realization affirmed the necessity of co-creation withof MARUI GROUP clearly reflected the positive evalua-future generations in our quest to help build a sustain-

tion of our ESG initiatives.

able society and global environment through our

We were overjoyed to have received such acknowl-business. Looking at environmental issues, for example,

edgment from investors and other stakeholders.

it may have been all right to continue on our current­Regardless, we did not allow ourselves to become com-course if we only thought of our own generation.

placent, rather choosing to forge ahead on this course.

However, if we considered our children and future gener-

This was when we became driven to undertake full-ations, it became apparent that immediate action was

fledged co-creation sustainability management.

required. We viewed this action to be an ethical respon-

Hiroshi Aoi

A long-term vision and targets are indispensable toPresident and Representative Director
Representative Executive Officer

co-creation sustainability management. MARUI GROUP’s

Our decision to engage in co-creation sustainabilityemployees and officers thus began a yearlong process ofmanagement was not for the sake of MARUI GROUP’ssibility for us.

dialogue to formulate such a vision and targets. Thesustainable growth alone. No, it was also because weWe got our start in co-creation sustainability manage-­sustainability management initiatives. For this reason,

vision we established for 2050 was “harnessing thewanted to build a sustainable society and global environ-ment in 2019 following the formulation of a long-term

I would like to talk a little bit about how things were in 2018.

power of business to build a world that ­transcends

ment. It was our hope that all businesses would embracedichotomies.”

sustainability. We became a frontrunner in this field tovision and targets for 2050. More than 30 years have

It may be difficult for the people of 2050 to imagine,

This vision was prefaced on the sense that our worldinspire them to do so.

passed since then. Have we realized this vision? Have webut in 2018, when we formulated our long-term vision,accomplished those targets? If our vision and targets havethe term “sustainability management” was not commonly

was facing a crisis at that point in time. This crisis could

It is unlikely that I or many of my colleagues frombecome a reality, even just a little, it is likely because theused in Japan. This was only shortly after the United

be seen in the decision of the United Kingdom to leave

2019 will be around to see the extent to which our visionworld was already leaning more in the direction we envi-

Nations Sustainable Development Goals, which put forth

the European Union, which was in part a response tocame true.

sioned than had been anticipated. If we have failed in thissustainability targets for 2030, had finally begun to catchfears of mass immigration. It could be seen in then U.S.

Regardless, in 2019 we declared our commitment toquest, it is due to our lack of effort. The final judgment inon. In the equity markets, investment focused on envi-President Donald J. Trump’s “America First” policy. Thismarch forward toward our vision of the future we desire.

this regard must be made by the people of 2050, theronmental, social, and governance (ESG) factors wascrisis threatened to destroy the pluralistic global society

people we called “future generations” 30 years ago.

becoming more mainstream, particularly in Europe, butthat Japan and other developed countries had labored tothere were many who were still skeptical of the economic

create. At the same time, growing income disparity wasrationality of this approach.

forming a common connection between people inRecognizing this fact, I want to help future generations properly evaluate MARUI GROUP’s co-creation

12

developed countries and developing countries. Mean-first to embark on ESG initiatives in 2016. At the time,

VISION BOOK 2050

VISION BOOK 2050

January 201913