Sustainability

Message from the President

To be an excellent and widely-beloved company in CV, LCV, and powertrains

I would like to express our appreciation for your continued extraordinary support for and understanding of Isuzu.

In FY2019, Japan suffered natural disasters such as typhoons No. 15 and No. 19, which did extensive damage throughout the country, while the world fell victim to the outbreak of COVID-19. These events placed significant restrictions on human activity worldwide and created an unprecedented situation marked by change - not only in the economy, but also in society and daily life as we know it. Amid expectations of great change coming to our living environments and behavior patterns because of these disasters and the disease, it seems very clear to me that corporate stakeholders' interests are going beyond the disclosure of information about
short-term sales and profit to include information concerning whether companies' long-term strategies and growth provides social value. We will continue making plans for the future in anticipation of tumultuous social change, leveraging Isuzu's strengths toward the kind of value and goals that we can provide to stakeholders for the long-term.

In FY2019, we formulated the Value Creation Story, which examines value as Isuzu perceives it from a medium- to long-term perspective, as well as the Isuzu Environmental Vision 2050, a long-term roadmap for combating climate change.

The Value Creation Story is a schematization of numerous discussions over how to address the social problems we want to solve by utilizing strengths honed through the products and services we have so far provided, as well as the business activities built on those strengths. Through the Value Creation Story, we want to provide stakeholders with a better understanding of the value we create and to actively engage in dialogue with them.

Isuzu Environmental Vision 2050 is a set of guiding principles aimed at minimizing the company's impact on the environment by calling on every Isuzu Group employee to recognize how society at large now stands at an important crossroads as it faces down climate change and other global environmental problems that grow more serious every year. As a united effort throughout the Isuzu Group, we will continue working together with stakeholders toward new challenges with an eye to building a sustainable society.

In FY2019, using the format of a dialogue among corporate officers, Isuzu laid out its path forward and future outlook concerning key issues determined in FY2018. Our goals center on actively engaging in collaborative activities with our partners in response to diversifying social needs in order to steadily solve social issues through our businesses. At the same time, we are reducing vehicle downtime and developing advanced safety systems by leveraging the expertise we have developed over the years.

We also aim to strengthen the independence and objectivity of the Board of Directors with regard to the nomination of officer candidates and officerstrengths honed through the products and services we have so far provided, as well as the business activities built on those strengths. Through the Value Creation Story, we want to provide stakeholders with a better understanding
of the value we create and to actively engage in dialogue with them. Isuzu Environmental Vision 2050 is a set of guiding principles aimed at minimizing the company's impact on the environment by calling on every Isuzu Group employee to recognize how society at large now stands at an important crossroads as it faces down climate change and other global environmental problems that grow more serious every year. As a united effort throughout the Isuzu Group, we will continue working together with stakeholders
toward new challenges with an eye to building a sustainable society. In FY2019, using the format of a dialogue among corporate officers, Isuzu laid out its path forward and future outlook concerning key issues determined in FY2018. Our goals center on actively engaging in collaborative activities with our partners in response to diversifying social needs in order to steadily solve social issues through our businesses. At the same time, we are reducing vehicle downtime and developing advanced safety systems
by leveraging the expertise we have developed over the years. We also aim to strengthen the independence and objectivity of the Board of Directors with regard to the nomination of officer candidates and officer compensation with a view to strengthening governance, which undergirds the development of these businesses. To this end, we established the Nomination and Remuneration Committee on June 29, 2019, followed by the appointment, effective April 1, 2020, of executive officers (CFO, CRMO, and
CISO) with cross-organizational supervisory authority in special fields throughout the company, including at Isuzu and Group companies. With respect to compliance, we developed a compliance enforcement system for Thailand identical to that used in Japan, while our risk management efforts saw us establish a system centered on stronger information security. Through efforts such as these, we will continue working to protect stakeholders' rights and interests.

It will be difficult to predict how society, the economy, and daily life will change as a result of COVID-19. Nevertheless, our mission to ensure the safety of our stakeholders and employees while supporting the act of transporting will guide our efforts to fulfill our social obligation as a transport equipment manufacturer, continue listening to the views and wishes of our stakeholders far and wide, and work towards achieving a sustainable society. We will continue working to support society in terms of people's lives as well as production, and to be an excellent and widely-beloved company in CV, LCV, and powertrains.

We hope that you will continue to support us even more in the future.

President and Representative Director
Masanori Katayama