Sumitomo Corporation Group has grown into an integrated trading company over the past 100 years since it was originally founded as the Osaka North Harbor Company Limited in 1919. The history of Sumitomo, which formed the basis of Sumitomo's Business Philosophy, can be traced back to some 430 years ago when its business focused on copper refining which later advanced to copper mining.
All employees of Sumitomo Corporation learn the history of the Besshi Copper Mines. Through its modern business management, the Besshi Copper Mines contributed in leading industrial development in Japan, however, there were negative impacts on local communities including deforestation of nearby forests and damage to agricultural crops from sulfur dioxide emitted by smelters. Management at that time took measures including reforestation of the Besshi Copper Mines and relocation of the smelting plant to an uninhabited island off the coast.
“Benefit for self and others, private and public interests are one and the same”, which is one of the credos of Sumitomo’s Business Philosophy, and the actions taken by our predecessors to prioritize the sustainability of natural environment and the local community over short-term profit, are deeply rooted in heart of every employee at Sumitomo Corporation. We are confident that our business serves the public interest.

Today, we have 80,000 employees working at almost 900 group companies in 78 countries and regions and we do our business by engaging with multiple stakeholders including customers, local communities, business partners and employees. Our business as well as our relationship with the stakeholders have expanded to a global scale and we believe that our mission is to protect the planet and pursuing development for the world and better lives for our stakeholders.

Today, we face many social challenges that threaten the sustainability of society including climate change, loss of biodiversity, and human rights issues. Global goals and guidelines are adopted such as the Paris Agreement, the UN’s Social Development Goals (SDGs), and the Business and Human Rights Guiding Principles, and various players including corporations are making efforts to achieve these goals.

Based on Sumitomo’s Business Philosophy and Sumitomo Corporation Group’s Corporate Mission Statement, for achieving both sustainable growth of our Group and resolving of social challenges, our Group have been conducted business activity with the six Material Issues set in 2017 and the six Key Social Issues and long- and medium-term goals for each of the Key Social Issues set in 2020.

In 2024, considering the further aggravation of social challenges such as climate change and the loss of biodiversity, the Group’s strengths, and expectations from stakeholders, the Material Issues and Key Social Issues were merged and updated.

Material Issues are a medium- to long- term commitment that goes one step further toward addressing key social challenges that the Group must undertake. The Group will achieve sustainable growth through addressing the social challenges.