From August 27 to 30, we held the Global Leadership Development Program (GLP) within our group.
Launched in 2007 as a program in which local managers working for our overseas group companies are invited to Japan to receive training, the GLP is presently held in Japan for managers of both domestic and overseas group companies. This year's program was attended by 25 managers, including 20 from abroad, which indicates that the program is intended for managers from almost every region in the world.
Featuring group discussions as the main activity, the four-day program included talks by executive managers, lectures on Sumitomo's history, business spirit, legal compliance, etc., opportunities to share information, and a tour to a facility connected with Sumitomo. Actually, I spoke about the Sumitomo Spirit, the mindset required of a leader, and the mid-term management plan that we announced the other day.
It's been more than a year since I assumed the presidency, and in this period, a wide variety of things have occurred every day. When trying to address them, I always make the necessary judgment based on the Sumitomo Spirit. To enable our corporate group with a history of more than 120 years to continue its long-term development, we need to ensure that our fundamental principles spread further throughout our group, including overseas group companies, and that all the group members are oriented toward the same direction.
A total of 482 managers have participated in the GLP over the past 12 years. Many of the participants are today achieving excellent results as executive managers of overseas group companies. When I was a young expat, coordination with Sumitomo Electric in Japan was a matter to be handled by Japanese expats. Today, they are gradually being replaced with local staff members, including those who have completed the GLP. To accelerate that trend, the overseas employees underpinning our group need to be more aware of themselves as members of the Sumitomo Electric Group, obtain much more knowledge, and explain to their subordinates in the local language to ensure that they are all headed in the same direction. To this end, I believe that such opportunities as the GLP are invaluable, and we would like to continue this in the future.