April 1, 2010
The recent business environment has been very difficult, a reflection of the effects of the global economic slowdown triggered by the Lehman shock. Consequently, the Furukawa Electric Group was forced to post a loss for the first half of the previous fiscal year. In response, we adopted structural reforms that would position us for rapid growth in a number of businesses. We also instituted emergency initiatives to improve our performance. As a result of these initiatives, the Group managed to achieve an operating income last July. Since then, our earnings recovery has continued.
The Furukawa Electric Group has recently adopted a Medium-Term Plan for the period ending in fiscal 2012, and the Group will take its first step along a new path of growth. An outline of the Plan is as follows:
- Develop a global Transmission Infrastructure Business.
- Strengthen the High Performance Materials Business.
- Develop the New Environmental Business.
- Undertake business restructuring that enables us to respond to the new business environment and global trends.
The factors that have enabled us to manage our operations over a very long period are our commitment to identifying future trends and customer needs in advance, and our ability to produce new functions, new products and new businesses. The Furukawa Electric Group is committed to providing new products that will contribute to the development of society, harnessing the many basic technologies that the Group possesses. In other words, the Group must continue in the future to respond and contribute to global society by creating new technologies and products through technical innovation. To achieve this, I fully expect that you will learn how to manage your duties as working people, and acquire fundamental knowledge of manufacturing.
I would like to ask you all to do three things starting today.
First, be positive and take on all challenges. Always keep your motivation high, and retain your aspiration to improve and change. These sustained efforts, no matter how modest, will ultimately help you achieve personal growth. Take on any challenges. Always reflect on what you are now, seek inspiration, and face things positively, because all of these things represent a personal investment.
Second, please ensure that you communicate fully with those around you.
I know that you all belong to the generation that has grown up accustomed to cell phones and emails. Email is good for communicating facts, but it is only by meeting people and talking with them face to face that you can develop the power of persuasion and negotiation. The company can exist only with its customers. Please always pursue the approach of “actual place, actual thing, and actual phenomenon,” and listen to your customers.
You will no doubt encounter many obstacles in your careers. At such times, please follow the “report-contact-consult” work procedure and share your problems with those around you. This will prevent errors, and will help you to bolster your abilities.
Third, please ensure that you work openly and fairly.
When you encounter challenges in your work, confront them squarely. Because we operate on a global basis, universality and rationality are important criteria in our decision making. Whereas all companies need to make a profit in order to survive, a company’s main purpose is go beyond that and contribute to society through its business activities. At Furukawa Electric, we have a maxim called “corporate virtue,” which means that we want to become a company with virtue. Please ensure that your own business behavior is constantly up to global standards, operating with fairness and diligence, and with the highest sense of ethics as employees of Furukawa Electric.
Finally, I would just like to remind you that the basis of a happy life, including your life at work, is ensuring that you stay in good mental and physical shape. Please take good care of your health so that you can have a full and active career. As employees of Furukawa Electric from today onwards, I hope that you will bring new strength to the Company as soon as possible and play an active part in the development of the Furukawa Electric Group.