Mitsubishi Corporation (MC), a global integrated business enterprise with operations across virtually every industry and a global network of around 80,000 professionals Mitsubishi Corporation (MC), a global integrated business enterprise with operations across virtually every industry, recently expanded its collaboration with TOYO TIRES with the aim of providing new services that satisfy the needs of the digital age and encourage a revolution in the mobility sector.
With 2019 having just been completed, what would you say marked that year when it comes to your operations in Serbia?
– Our business partner, TOYO TIRES, has decided to invest half a billion euros in Serbia to build a factory that will employ more than 500 workers and produce around 500 million tyres per year starting from early 2022. TOYO TIRES is already considering additional developments in Serbia while we at MC are looking into further areas of collaboration with them. The plan for this new production base, which will strengthen global tyre production and supply chains, was conceived in 2018, when TOYO TIRES and MC strengthened their business and capital relationship. With this, we laid the foundation for a broader strategic alliance that will enhance TOYO TIRES’ presence in the global market and help it compete more effectively as the mobility sector develops.
Moreover, I am pleased that the governments of Japan and the Republic of Serbia reached a bilateral tax agreement in December 2019 with the aim of avoiding double taxation as well as preventing tax evasion and avoidance. I hope that this agreement will further strengthen the positive bilateral relations between our two countries and increase interest in investing in Serbia among Japanese companies.
How is your company responding to this ever more rapidly changing world?
– We are well aware of the fact that we find ourselves in the midst of a Fourth Industrial Revolution, with technological innovations serving as a major driver of economic growth. In response to new social and economic circumstances, as well as to the rapid progression of digital technologies, we are constantly questioning the sectors in which to strengthen our presence. I think we have been successful in adapting to these changes so far, striving to meet the needs of society and contribute to the development of industry as a whole. At the same time, we are upholding our corporate values and the interests of our wide-ranging stakeholders including shareholders, creditors, partners and employees.
Despite uncertainties in the external environment, Mitsubishi Corporation endeavours to ensure its sustainable growth while contributing to a prosperous society
By recognising that businesses have life cycles that are influenced by numerous factors, including the external environment, MC works proactively to adapt its portfolio, demonstrating its strengths by implementing the various initiatives under Midterm Corporate Strategy 2021. We are striving to introduce the most appropriate digital technologies to every segment of the company, as these will be a decisive factor in future reforms, while at the same time providing advanced services that will bring significant improvements to productivity.
Technology is evolving at incredible speed. Does that also mean that people have to change?
– Today, more than ever, we expect our employees to take the initiative and contribute toward the company’s growth. This is why MC recently announced major innovations and changes to its HR systems for the first time in roughly two decades. The new system will ensure that employees gain relevant experience earlier, providing them with opportunities to fully develop their managerial skills. This will also facilitate the right people reaching the right positions within the company. If you do not provide talented workers with the opportunity to develop professionally and advance, they will likely pursue their options elsewhere. No successful company can afford to allow that.