Speech by President Mitsuyoshi Shibata at the 2013 Welcoming Ceremony for New Employees

April 1, 2013

Congratulations on joining our Company. I would also like to extend a warm welcome and my very best wishes to all new employees who have joined companies in the Furukawa Electric Group around the world this year.

As you are all aware, the world is changing at a dizzying pace. The performance and strategy of our company are very much influenced by changes in economies, politics, foreign exchange and resources worldwide. Overseas markets now account for 35.8% of total sales of the Furukawa Electric Group, and this figure will reach 50% in a few years. At that point, the majority of our activities will be overseas.

This is the corporate logo of Furukawa Electric. It conveys the dedication and determination to light Japan of Ichibe Furukawa, our company’s founder, who switched from trading in raw silk thread to copper mining in 1877, and started to make copper electric wires to supply electricity. To date, it has been the logo of Furukawa Electric, but from today, this logo will unify the entire Furukawa Electric Group, including overseas Group companies. It is our great hope that as of today, the logo will not only light up Japan, but the whole world through the global business activities of the Group.

Today is a new start for everyone who is joining our company, but it also marks a start for the new members of the management ranks who are present here today. Today marks a new departure for the Furukawa Electric Group. We would like to promote global business at the Group and to make the world a brighter place. This is a big challenge. For all of you, your sphere of activities will also be expanding a great deal. Each one of you is important. Please stay levelheaded and disciplined, accept the challenges and work hard.

I would like to ask three things of you as you join the company. First, I want you to have a firm grasp of the basics of work. Please take care with health and safety. Please be aware of the duty to contribute to society through your work activities. As the foundation for your contribution, please maintain a high sense of ethics and respect the laws, respect the rules, and do not cheat.

Second, stay levelheaded and disciplined and seek personal growth. If your career with the company is aimless, time will pass very quickly. The world is changing in ways that are significant. I would like you to study hard and to better yourselves, to acquire new skills while keeping a broad outlook for the global battle. This is how your strengths will be directly reflected in the strength of the Group. Each and every one of you supports the company.

The third thing is simple: stay upbeat when you work. I am sure your work will come and go in waves; there will be times when things seem tough, and other times when the work is going smoothly and you’re enjoying it. It is pointless to feel depressed when things are tough. Rather, the hard times are when you gather knowledge and gain valuable experience for the future. It is important to accept new challenges on this basis, and to feel positive and to enjoy the process. Upbeat thinking and upbeat action create a positive spiral.

I regularly encourage people in the Furukawa Electric Group to think about Substance, Candidness and Commitment. As you go about your work, there will be times when you just can’t get the results you seek. You will face difficult challenges. At these times, I want you to go back to basics and think about “the beginning,” to explore the Substance. When the Substance starts to take shape, please consult with your colleagues. Candidness is important, not appearances. When you have decided what to do, demonstrate your Commitment and carry things through to completion. Business competition is decided when gaps with other companies start to appear as a result of this degree of Commitment. Please keep this in mind.

Finally, whether you are new employees joining companies in the Furukawa Electric Group, or new employees joining Furukawa Electric here today, all of you will be working in a sphere of rapidly expanding activities. Aim to do a job that is globally significant and to make the world a brighter place. We wish you every success.