In 2024, elections are taking place　worldwide, including Taiwan, Indonesia, Russia, Europe, and the United States. The outcomes of these elections are closely watched. Two unexpected wars that were unforeseen three years ago still continue and are likely to be affected by the results of these elections. Partly due to these events, Sumitomo Corporation Global Research (SCGR) has characterized the year 2024 as a year of "The world at a Turning point”. In addition, following questions signify the gravity of the current trends. What are the implications for the rise of the Global South and the fragmentation of global society? Will inflation slow down or remain high? Will there be shock events or a soft landing once we enter a phase of declining of the interest rates? Will the pace of response to tackle climate change issues slow down? All these questions will significantly reshape the business environment and we cannot afford to take our eyes off these transformational developments.

     Meanwhile, prices of gold and stock are in a high level even as the global economy is expected to remain stagnant. This illustrates that the world is overflowing with surplus money, which presents huge opportunities for businesses. Moreover, policy makers in various countries are competing to carry out industrial policy for the sake of economic security and national security by providing huge amount of subsidies or tax return. While these are tailwinds for business, missing these opportunities would bring a company into a difficult situation. Needless to say, too much reliance on government support would not last long, rather sustainable mechanism is crucial for businesses.

     The role of SCGR is to identify changes with a certain likelihood, envision multiple scenarios, detect actual signs of transformation and make business people informed. The more uncertain the future and the greater the change, the more critical our role is. Looking only at what we can see now in front of us would blind us to the future, but looking only ahead is often not useful for actual business. SCGR connects what lies in front of us to the future by seeing business with one eye while looking into macro movements with the other. It hopes that those who on the front lines of business keep eyes on macro trends by utilizing its analysis in order to formulate and execute their business strategies. In other words, it wants to serve the function to draw "an auxiliary line" to help connect the dots between macro trends and business. Furthermore, it aims for effective communication, which does not mean transmitting information for the sake of transmission only, but ensuring it resonates with the recipients. At the same time, it likes to become an organization that is appreciated and respected not only by the Sumitomo Corporation Group but also by public at large. In order to achieve such a mission, SCGR has identified its unique non-financial KPIs and improved the outcome through measuring them. Such a way of management has proved effective.

     SCGR, a group of experts and talented people, will further strive to bring out their individual strengths and provide useful input to important investment decisions and business judgments in Sumitomo Corporation's mid-term plan starting from FY2024.

     Thank you for your continued support.

March, 2024
Takayuki Sumita
President and CEO

Company Name	Sumitomo Corporation Global Research Co. Ltd.
Establishment Date	April 1, 2004
Paid-in Capital	50million yens
Stockholder	Sumitomo Corporation (100%)
President and CEO	Takayuki Sumita (Executive Officer, Assistant CSO, Sumitomo Corporation)
Board Directors	Director:   Yasunori Hisano Director:   Atsushi Naiki
Number of Employees	35
Office Location	OTEMACHI PLACE EAST TOWER 2-3-2 Otemachi, Chiyoda-ku, Tokyo, 100-8601 Japan
Business Description	Studies, analysis, research and consulting on issues related to domestic and international politics, economics and trade, etc.

(As of April 1, 2024)

Economic Analysis

By combining macro-economic information, such as Global and Japanese Economy, World Trade, with its in-house business oriented information, SCGR provides analysis and forecast of the economic environment around the world.

Market Analysis

By combining market information with in-house information derived from natural resources and energy trading and investment, SCGR offers their views on the current market trend and outlook of the international commodity market.

International Analysis

SCGR keeps track of developments in international affairs, as well as the political and economic situation of individual countries with country risk information, and provides views on the potential impact on our business operations world-wide.

Business Strategy Analysis

SCGR provides analyses of next generation businesses, technologies and environmental issues.

(As of April 1, 2024)