In October 2017, Tokyo Gas Group formulated a new medium-term management plan, "GPS 2020: Tokyo Gas Group—Initiatives for Energy and the Future," to serve as a foundation for our development going forward as we seek to respond in an appropriate manner to the sweeping changes impacting our business environment, including the liberalization of energy, the shift toward a low-carbon society, the promotion of energy-saving, and digitalization. Outlining our strategy for developing gas (G), power (P), and services (S) on a global level (xG), this plan is the culmination of the Challenge 2020 Vision that we unveiled in November 2011.
Competition in the energy market of the Tokyo metropolitan area is intensifying, with residential, commercial, and industrial customers switching energy providers. Amid this challenging business environment, this fiscal year marks 50 years since the introduction of liquid natural gas (LNG), which was a turning point for our company. Drawing on the experience we have accumulated during those 50 years, we will strive to further promote efficient, widespread use of natural gas with the aim of achieving a low-carbon society and to improve our resilience in the event of a major disaster with the aim of ensuring safe, stable supply.
We are also steadily pursuing our GPS2020 goals by acquiring more power contracts, expanding our service lineup, and increasing the number of overseas business projects through an integrated approach. In order to establish a strong platform for development and rapid growth in the 2020s, during this fiscal year we will strive to pave the way for GPS2020’s success by advancing our integrated energy business (GPS)—including achieving our target number of power contracts ahead of schedule—and accelerating our global development (xG) through accumulating more overseas projects.
The environment surrounding Tokyo Gas Group is undergoing dramatic changes due to major trends such as the "4 Ds." In order to thrive during the next half-century, it is essential to view these changes as opportunities and create new value by tackling various challenges. With this in mind, we will formulate a forward-looking corporate vision for our group this year.
*The "4 Ds" = decarbonization, decentralization, deregulation, and digitalization.
Tokyo Gas Group’s greatest strength is the brand values of "safety, peace of mind, and reliability" that we have established among our customers and other stakeholders during our 133-year history. It is vital that we preserve these brand values going forward by ensuring safe, stable supply, making compliance a priority, and being honest with our customers. We are grateful for your continued support and understanding.