MHI President Izumisawa's 2022 New Year Message

Tokyo, January 5, 2022

Mitsubishi Heavy Industries, Ltd. (MHI) President and CEO Seiji Izumisawa today delivered a New Year's address to employees. The following is a summary of his remarks. 2021:

A New Start Amid Unprecedented Change

• In 2021, MHI Group embarked on a new medium-term business plan (2021 MTBP) with the objectives of strengthening profitability and opening up growth areas. I am grateful for all of your efforts for future growth.

• In October, MHI Group declared MISSION NET ZERO as a commitment to achieving carbon neutrality. Our aim is to reduce CO2 emissions to half of 2014 levels by 2030, and to have net zero emissions across our entire value chain by 2040. This represents our firm commitment to our responsibilities as a leading company in the energy space.

Pushing Forward with Our Business Plan

• In 2022, we will continue to strive toward the objectives of strengthening profitability and developing growth areas.

• We must (i) leverage the global economic recovery to achieve our business targets, (ii) formulate and implement specific measures for realizing MISSION NET ZERO, and (iii) clarify our vision for MHI Group' future based on our growth strategies. This will leave us well-positioned to meet our final targets for the 2021 MTBP in fiscal year 2023.

• The issues surrounding decarbonization vary by country and region, requiring solutions that meet local conditions and market needs.

• MHI Group is able to offer a wide range of technologies, products, and services to solve the problems facing the world, and will continue to move forward as a trusted corporate group.

The Means to Progress

• In order for us to put these initiatives into action and meet our objectives, three principles are important.

• First, synergy: by combining MHI Group's wide array of technologies, products, and know-how, we can take on any task. Pursue synergistic benefits by utilizing the products and technologies of other divisions.

• Second, positivity: when facing a challenge, it is especially important to have a mental attitude of thinking about things in a positive manner and seeking answers.

• Third is communication: the future is uncertain in these times of great change, but if we work collaboratively as one team with a common purpose, we will find a way forward.

• Going forward, rather than adhering to tradition, if we create new value and build on it, we will gain the trust of society and customers. Let us acquire new value and trust, and become a new corporate group.

A New Society Built by Many Hands

• 2022 will be another year of changes in politics, economy, and society. At the same time, we ourselves will be required to change.

• I would like everyone at MHI Group to think about how they personally can contribute to building a new society, and the actions they need to take. I hope that in this way we can make firm steps toward a brighter future.


Mitsubishi Heavy Industries, Ltd. (MHI) President and CEO Seiji Izumisawa. Image by Mitsubishi Heavy Industries, Ltd.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.

Mitsubishi Heavy Industries, Ltd. press release