Founded in 1922, the Asahi Kasei Group is a diversified manufacturer centered on chemistry. Throughout over nine decades of growth, we have continued to proactively diversify and adapt our operating portfolio to changes in the economy, changes in society, and changes in the environment. The history of the Asahi Kasei Group is rooted in Japans first ammonia production by chemical synthesis, using hydroelectric power, which formed the basis for our synthetic chemistry and chemical fibers businesses. We now contribute to life and living for people around the world through our operations in the three business sectors of Material consisting of fibers, chemicals, and electronics businesses; Homes consisting of homes and construction materials businesses; and Health Care consisting of pharmaceuticals, medical devices, and acute critical care businesses.
As society all around the world continues to change dramatically, we face a wide variety of challenges including issues of resources, energy, and the environment, the continuing evolution of information technology, greater general awareness for health and safety issues, and aging and declining populations in Japan. The products, technologies, and services of the Asahi Kasei Group can create new value that helps society overcome such challenges by contributing to a clean environment, to clean energy, and to health, comfort, peace of mind, and longevity. In the Material sector we have environmentally friendly and original products with high added value, in the Homes sector we are making innovative lifestyle proposals that anticipate changing needs, and in the Health Care sector we are focusing on unmet medical needs, to mention just a few examples.
With the start of our new strategic management initiative in fiscal 2016, the Asahi Kasei Group transitioned to an operating holding company configuration in order to execute our strategy and obtain greater synergy among our diverse operations. Under the new configuration we will leverage the broad-ranging businesses and multifaceted human resources gained across our history of diversification to actively innovate through our products, technologies, and services. By fulfilling our Group Slogan of “Creating for Tomorrow” with a firm presence for our high-earnings businesses, we will advance as a reliable and dependable enterprise that meets the expectations of our stakeholders.