Planning imbued with a farsighted perspective is the practice of taking a long view of every aspect of a business, setting a course, and persisting with efforts to bring a business to fruition over two or three generations even if immediate results are not forthcoming. Sumitomo executives are mindful of the far horizon while emphasizing a sure grasp of the here and now.Management from a long-term perspective is the hallmark of the Sumitomo Group. This is called “the Hundred Years Plan.”
The first Sumitomo Director-General Saihei Hirose, the modernizer of the Besshi Copper Mines, said, “I must sow the seeds of the business for the sake of many people, and many people must nurture the business far into the future.” The Great Afforestation Plan of Teigo Iba, the second Director-General, and the declaration of Masaya Suzuki upon becoming the third Director-General, “Acting together with like-minded people, I intend to tread the path of justice and equity, undertaking projects beneficial to the nation from a long-term perspective,” were grounded in this principle.
“Planning imbued with a farsighted perspective” has put down such deep roots at Sumitomo because copper mining, an enterprise requiring a long-term commitment, was the motor of Sumitomo’s embrace of industrialization. Today, Sumitomo’s diverse businesses extend from electronics and machinery to finance. All these businesses are fruits of the multi-generational, collaborative endeavors of business leaders whose creed was always “Planning imbued with a farsighted perspective.”