Message from the President August.2021

The Shift to a Circular Economy

Have you heard of the "circular economy," a term which has been taken up by the media on TV and in newspapers recently? In Japanese, it's junkan keizai. According to the Circular Economy Vision 2020 announced by the Ministry of Economy, Trade and Industry in May 2020, a circular economy is defined as, "an economy that maximizes added value while also making efficient and cyclical use of resources at every stage."

Having achieved rapid growth during a period of high economic growth, Japan has followed the one-way path of a linear economy with mass production, mass consumption, and mass waste, and the world is in a similar situation. This growth model pursues short-term profits and material abundance and is reaching its limits in the world today. I believe we have reached a transitionary period where we will shift to a circular economy.

When considering a circular economy in the area of research and development as offered by MEITEC engineers, the following points were given: a plan for reduction (weight reduction, miniaturization, etc.), a plan for reuse and recycling (designs that are easy to disassemble, etc.), and a long-term use product plan (durability, upgradability, etc.). In production, we can also achieve a reduction in various losses and an optimization of resources by making smart factories a reality.

A circular economy is also closely related to our goals aimed at solving the social issues that we are taking on (ESGs, SDGs). We will promote the technological innovation our clients struggle with together as their greatest partner and will contribute towards the creation of a circular business model that allows for the maximum utilization of limited resources. And by being a part of this desirable cycle of the environment and growth as a society as a whole, we will also be brought closer to our Management Concept of Mutual Growth & Prosperity and to the goal of contributing towards sustainable economic growth, one of our goals aimed at solving social issues.

MEITEC celebrated the 47th anniversary of its founding on July 17.
With our professional spirit that continues to respond to the needs of a rapidly changing society with people and technology, we will work to contribute to the realization of a sustainable economy and society as a comprehensive, future-oriented engineering group.

August, 2021