Sumitomo's new corporate philosophy: ‘Rubber and Beyond/Driving our Future'

KOBE, Japan — Sumitomo Rubber Industries Ltd. has "overhauled" its corporate philosophy to reflect the evolving global business environment and coined the motto "Rubber and Beyond, Driving Our Future" to embody the philosophy.

While noting the need to update its philosophy, SRI stressed that the revamped outlook maintains the firm's fundamental ideas of "fulfilling our responsibilities to society as a good corporate citizen," "pursuing greater happiness for all employees of our group" and "living up to the expectations of our customers."

At the same time, though, SRI management said it felt it was necessary "to redefine the purpose of our existence in a way that would set clear, unwavering guidelines for all of our employees and resonate with all of our stakeholders" while "adeptly responding" to a business environment that is both increasingly uncertain and fraught with drastic changes.

SRI's core philosophy defines the company's purpose thusly: "Through innovation we will create a future of joy and well-being for all."

From that, the company fleshed out the philosophy's structure by defining:

• a story (i.e. underlying beliefs);
• a vision (i.e. goals); and
• the SRI way (i.e. key values).

The phrase "Rubber and Beyond" refers to both the "cutting-edge of rubber technology" and "expanding the possibilities of rubber to develop new technologies and provide new value."

The phrase "Driving Our Future" refers to "bringing joy to the hearts of all who are touched by our products and services, driven by the boundless flexibility and endless possibilities of rubber materials."

Summing up, SRI management said, "We hope that our philosophy will serve as the basis for all of our decisions and as the impetus for all of our actions as we continue working to enhance not only our economic value, but also our value to society so that we may contribute to the development and ongoing prosperity of a more sustainable society."