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Messages from Keidanren Executives and Contributed articles to Keidanren Journals October, 2023 Observe, Feel and React Quickly and Straightforwardly

Tsugio MITSUOKA Vice Chair of the Board of Councillors, Keidanren
Chairman of the Board, IHI Corporation

I am in the manufacturing industry, and it is often said that our industry still has a long way to go in how we respond to change. However, I see numerous positive efforts being made towards innovation and new business development. However, in order to generate more certain results, I believe that the mindset of the "Three Realities Principle" (go to the real place, make a direct observation of the real object, and determine the real facts) can be effective.

Firstly, it is important to re-examine the definition of the "real place". Through discussions with startups and innovation ecosystem stakeholders from different generations and diverse cultures, I expect that we can further step-up our awareness at the "real place". Even in repeated hypothesis testing situations that require speed, it is important to put asides one's own personal bias and targets and to look straightforwardly at the "Three Realities Principle". This "straightforwardness" allows us more freedom to consider the realities of a situation and thus escalates our level of awareness. Being straightforward also makes it possible for us to effectively consider what will happen next, to prepare for potential risks, and to enable bold, decisive action.

Although daunting, the realization of the required changes will require a multi-layered approach that considers social, environmental, and scientific innovation seen from a bird's eye view, with long, medium, and short-term achievement goals in mind. Taking the realization of carbon neutrality as an example, we must consider how we can conceptualize a society that also takes regional characteristics into consideration in the long, medium, and short term, and how we can bring about new innovations in each of these areas. How do we confront the unexpectedly complex reality and decide an effective method to simplify it and refine it down into specific themes? Due to the ambitious targets that we have set ourselves, our roadmap will inevitably be a routine of continuous missteps and revisions, and we must therefore be prepared to take bold action when required. The "Three Realities Principle" constantly requires us to solve social issues for which there is no absolute right answer. We must be straightforward and consider what we can see and feel in our ever-changing society, and what we should be thinking about this. I believe that we should react straightforwardly and commit to improving our response to these changes. I believe that we must continue to value the importance of being straightforward.

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