Message from the President
The Chori Group is a trading company specializing in the textiles, chemicals and machinery businesses. Our history spans 160 years, during which time we have built a global network totaling 35 bases, mainly in China and ASEAN countries.
From fiscal 2020 we started a new medium-term management plan, Chori Innovation Plan 2022 (fiscal 2020-2022). To respond rapidly to our dramatically changing society and business environment, we will further advance defensive measures such as risk management, while promoting basic strategies for sustainable growth, including reinforcement of a consolidated management structure, creation of next-generation business models, corporate governance, compliance and strengthening the human resource development structure. With its exceptional capabilities and expertise, the Group will further increase corporate value on a global scale as it continues to evolve and change.
In conjunction with the start of Chori Innovation Plan 2022, the Company has significantly restructured its organization to form an optimal operational structure. In the Textiles Business, the three-department system has been unified into a single department, the Textile Division. In the Chemicals Business, a Chemicals Division has been formed, operating separately from the Machinery Business. Moreover, the Textiles and Chemicals Businesses will each introduce a business unit system comprising multiple sales departments with the objective of operating strategic and functional businesses. Subsidiary Chori Machinery Co., Ltd. will operate the Machinery Business to enhance its mobility.
In addition, the Company is strengthening corporate governance and the Governance Committee, comprised of the president and two independent outside directors was established fiscal 2020 as an advisory body to the Board of Directors to ensure transparency and fairness when considering matters such as appointment and compensation for officers.
With regard to shareholder returns, our policy is to implement performance-based dividends, and we raised the dividend payout ratio to a standard of 30% or more based on net income attributable to owners of the parent from the standpoint of ensuring stable management and financial affairs with proactive shareholder returns.
Currently, the global economy is being subjected to the enormous impact of the COVID-19 pandemic. The Japanese consumer market has also slumped and the operating environment encompassing the Chori Group is uncertain. Yet even in this harsh environment, the Group will move forward as one toward achieving the goals of Chori Innovation Plan 2022, further refining our exceptional capabilities and expertise on a global scale. Backed by our corporate slogan of “making your dreams come true,” we will meet the expectations of all stakeholders and continue sustainable growth and development.
Chief Executive Officer
& Chief Operating Officer