Marubeni-Itochu Steel Inc. (MISI) was established in October 2001, emerging on the scene as a pioneering business model comprising the industry’s first divisional merger realized by spinning off the steel business divisions of two major general trading companies. Over the years since, MISI has moved forward in its mission to create vital new value through the fusion of two different corporate cultures while upholding the inherent strengths of a general trading company. On this occasion we are pleased to report that, due in great part to the crucial understanding and support of our stakeholders, MISI has succeeded in negotiating a road of solid business progress and growth ever since its inception.
We remain true to the spirit of the Three-Way Benefit, which Omi tradesmen—our forerunners—viewed as the foundation of all business. This concept encompasses the benefit for the seller, benefit for the buyer, and benefit for the local community. Taking this time-tested wisdom to heart, we are firmly committed to sustaining and further building upon this legacy, with all MISI Group employees coming together as a tightly knit team in pursuit of the following principles of our corporate philosophy: - Excelling as a first-class global company and contributing to social progress through steel distribution - Striving to be a dynamic company in an innovative intellectual group - Demonstrating our trustworthiness and honesty through understanding and respect.
MISI will also naturally continue to stress the critical importance of its bonds with society, consideration for the natural environment, strengthened compliance, spearheading of social service activities, and other initiatives aimed at fulfilling our corporate duties as a responsible member of the community.
Finally, I look forward to your redoubled support and understanding of Marubeni-Itochu Steel Inc. over the years to come as well.