The thoughts and intentions behind our purpose, vision, and values

In today's society, we are navigating an era characterized by rapid changes and uncertainty, known as the VUCA era. In such times, it is crucial to anticipate changes and respond swiftly. Transitioning from mass production to personalized consumption, with more targeted products and less waste, is essential in crafting new business plans that align with evolving consumer consciousness.
However, we believe that regardless of the social situation, our core beliefs, philosophy, and values must remain steadfast. To ensure we do not stray from our true intentions amidst changing times, we have revisited our origins to reaffirm what must not change and the purpose of our existence as a company.
Since our founding in 1906, Mizuno has upheld the corporate philosophy of "Contributing to society through the advancement of sporting goods and the promotion of sports." We have continuously produced high-quality products, embodying our philosophy as our purpose (raison d'être). Our mission, or vision, is "We are persistent in bringing 'A-mon' quality for the world." To achieve this, we uphold the timeless values of "Fair Play, Friendship, and Fighting Spirit," known as the "3F" spirit, as our core values. All employees of the Mizuno Group hold these purpose, vision, and values close to their hearts, creating new corporate value for a sustainable future.

A Year of Experiencing the Revival of Sports

The year 2023 has been a pivotal year in which we have truly experienced the "revival of sports." With the reclassification of COVID-19 to a Category 5 infectious disease, numerous international sporting events were held, enhancing the value of "spectator sports." We feel that sports are now being embraced more passionately than ever before. Economic activities have also gained momentum, and the recovery of inbound demand has provided a positive boost. However, concerns remain regarding sudden exchange rate fluctuations and rising raw material prices. While the impact of these societal changes on our company is currently limited, we will continue to implement measures and preparations to minimize various risks and potential damages.

On a global scale, extreme weather crises caused by global warming are increasingly prevalent, resulting in floods, droughts, and other disasters worldwide. Through our environmental activities within the value chain and the development and sales of eco-friendly products, we are making strides in reducing greenhouse gas emissions and are committed to environmental protection initiatives such as reforestation. Additionally, global scrutiny regarding human rights and the demand for improved working conditions is intensifying. Business models that rely on lower labor costs in regions such as the Asia-Pacific countries are no longer viable. We continue to monitor the human rights and working conditions of workers through CSR audits of our suppliers and remain steadfast in our commitment to ensuring ethical practices throughout our supply chain.
There was a time when these sustainability efforts were seen as a cost, but we now view them as essential investments. Ethical consumption, especially among consumers in Europe and the United States, is becoming more mainstream, and companies that prioritize profit over sustainability will inevitably be phased out of the market.

Creating Corporate Value through Investment in Technology and Human Capital

We believe that our products are valued by our customers for their "high quality," including functionality and fitting. For example, our football shoes, which currently gain the top market share in Japan, include the "Morelia series," which has maintained consistent comfort for over 30 years, earning high reputation even for new models. This success is attributed to our strong technological and development capabilities. Our new innovation center, "MIZUNO ENGINE," aims to further enhance these strengths. We will continue to invest in necessary distinctive technology and talent to focus resources effectively.

At "MIZUNO ENGINE," we have integrated the functions of "Measure", "Phototype", and "Try" in one location, fostering development through open innovation. This innovation cycle encourages active discussions across departments and accelerates prototype development. We have also established a system allowing all employees to engage in new challenges. Under a policy where up to 10% of their work time can be dedicated to new projects, employees can submit their ideas, which are then reviewed by executives. Depending on the proposals, commercialization and even the establishment of new companies are possible. To date, over 800 ideas have been submitted, with several already moving toward commercialization.

I aim to create a culture and environment within the company that encourages innovation and challenges. It is crucial not only to rely on our sports business but also to plant seeds for entirely new businesses and strategies, nurturing them for future growth.

The Changing Value of Sports and Our Initiatives

In recent years, the value of sports has significantly changed. Athletes' physical abilities and skills have remarkably evolved, and there is an increasing demand for the development of sports equipment tailored to individual capabilities. Regulations on equipment are also changing; for instance, non-excessive golf balls and aluminum bats for high school baseball require an approach opposite to the high-performance product development we have pursued thus far. To address these changes, we will focus on creating further innovations centered around "MIZUNO ENGINE."
Additionally, in Japan, the declining birthrate and aging population are leading to a decrease in the number of people participating in sports. Moving forward, we aim to develop sports programs and products that can be enjoyed not only by those who love and excel in sports but also by those who may have a sense of inadequacy or difficulty with sports. We will also focus more on overseas markets and boldly challenge fields beyond sports.
Under our purpose, vision, and values, we maintain a firm stance against unethical practices and are committed to persistently bringing 'A-mon' quality to our customers. Through the pursuit of sustainability and improved business performance, we aim to create an environment that benefits not only our shareholders and employees but also our suppliers and clients. We sincerely ask for the continued support of all our stakeholders.