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News Release

Message from President Masao Yoshida at the Initiation Ceremony for 2011

April 1, 2011

It gives me great pleasure to welcome a total of 101 new employees here today. I would also like to take this opportunity to express my deep condolences to all the victims of the recent Great East Japan Earthquake.

Looking ahead, we have to take strong steps to help Japan recover as a nation. This is one of the reasons why I look forward to watching you develop your careers, becoming irreplaceable members of our Company and playing important roles for many years to come.

Last April, Furukawa Electric announced its new medium-term management plan, New Frontier 2012. Group companies will continue rising to new challenges together, aiming for growth in new markets, technologies and businesses which represent the new frontier for Furukawa Electric.
However, the business environment is becoming increasingly difficult for management to navigate. In addition to the rising price of raw materials such as copper and fuel, ever shortening product life cycles, fierce competition with Asian companies and, of course, the strong yen, Japan is expected to face prolonged power shortages in the wake of the recent earthquake.

In this environment, the key to accelerating global expansion for future growth lies in our ability to quickly grasp the real needs of customers and offer superior solutions. We will not survive unless we transform ourselves into a company that keeps abreast of global trends, anticipates change, and identifies the essential so as not to be left behind.
To achieve this, I fully expect that, during the orientation training you are about to undertake, you will learn how to manage your duties with an awareness of your position as working people, and acquire fundamental knowledge of manufacturing.

I would like to take the opportunity of today's initiation ceremony to ask you all to do three things.

First, please channel your full potential without imposing any limits.
The biggest challenges facing mankind today are environmental sustainability and energy conservation. I ask that you adopt a global approach, aspire to do something that matters, and pursue the enjoyment of making dreams come true, while, at the same time, constantly making incremental efforts to improve and adapt personally.

Second, please ensure that you communicate fully with those around you.
A company is an organization. Many people are working to achieve objectives, each playing their own part in achieving specific tasks. I ask that you value communication and teamwork with the people and divisions you come into contact with on a daily basis. Also, so that we continue to provide the right solutions to our customers, please try to gain an accurate understanding of their situation, pursuing the approach of “actual place, actual thing, and actual phenomenon.” Be sure to 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.
Because we operate on a global basis, universality and rationality are important criteria in our decision-making. A company’s main purpose is to contribute to society through its business activities. Please ensure that your own business behaviour is constantly up to global standards, operating with fairness and diligence, and with the highest sense of ethics.

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 role in the development of the Furukawa Electric Group.

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