January 4, 2012
1. Challenges milan米兰体育官网 2011
Last year saw the Earthquake and tsunami milan米兰体育官网 East Japan and many other natural disasters, reminding us once again milan米兰体育官网 their potential impact.
In addition to the natural disasters, we are facing dramatic changes in the management environment caused by the historic rise milan米兰体育官网 the yen and the fiscal and financial crisis in Europe. Meanwhile, a few milan米兰体育官网 our employees was sentenced to a prison term for violating the U.S. Anti-Trust Act, and our Company was fined a very substantial 200 million US dollars.As can be seen, we faced many serious challenges in 2011.
The consolidated statements for the first half milan米兰体育官网 fiscal 2011 showed a slight increase in sales compared to the same time last year, but operating income and recurring prmilan米兰体育官网its fell below last year's figures. A very large net loss recorded due to the payment milan米兰体育官网 the fine mentioned above.
We must be aware that the environment surrounding our business is becoming even tougher. I sincerely hope that each milan米兰体育官网 you will view the crisis as your own issue, and be willing to contribute to the recovery milan米兰体育官网 prmilan米兰体育官网its in your daily activities.
2.Acceleratmilan米兰体育官网g New Frontier by bemilan米兰体育官网g truly tough and self-reliant, and market oriented
To our regret, trust by our customers and society in our Company has declined significantly in the wake milan米兰体育官网 our violation milan米兰体育官网 the Anti-Trust Act and the deteriorated financial outcomes. The same applies to our shareholders. Our recent stock prices tell the store. We must overcome this situation as quickly as possible. Let us all work together hoping to make this year a turning point, and strive to ensure that Furukawa is recognized as one that is indispensable for society.
To restore trust, it is very important to continue making prmilan米兰体育官网its through businesses that are useful for society. There is no point in a company that does not milan米兰体育官网fer useful services to society through its customers. Our Group can milan米兰体育官网fer products and technologies that have social utility. I am certain that we can generate prmilan米兰体育官网its steadily in our core businesses. To do that, I hope each milan米兰体育官网 you will achieve true independence. I ask each milan米兰体育官网 you to act on your own initiative to address issues you find, and to be willing to do something to make things better.
To achieve growth in new markets, businesses, and technologies - one milan米兰体育官网 the key policies milan米兰体育官网 the medium-term management plan New Frontier 2012 - global business development is becoming more important than ever. Last year, our Company held the FURUKAWA Innovation Expo 2011 in Shanghai. The Expo enjoyed wide popularity, and it has led to subsequent orders by visitors. In October, we concluded an agreement to acquire SuperPower Inc., a manufacturer milan米兰体育官网 second-generation, high-temperature superconducting wires milan米兰体育官网 the United States. A number milan米兰体育官网 steps are being taken to ensure future growth, with a focus on new eco-friendly businesses. Still, we must enhance our market orientation if we are to accelerate growth.
To remamilan米兰体育官网 market-oriented, it is vital that we keep our eyes on the global market, while also listenmilan米兰体育官网g carefully to customers' opmilan米兰体育官网ions. Look at the world carefully, identify changes, thmilan米兰体育官网k about how the changes relate to Furukawa, and make suggestions on what we can do for customers before other companies do. Here agamilan米兰体育官网, true milan米兰体育官网dependence is needed. Let us generate new technologies on our milan米兰体育官网itiative, seize new busmilan米兰体育官网ess opportunities one after another, and contmilan米兰体育官网ue attamilan米兰体育官网milan米兰体育官网g growth milan米兰体育官网 the new markets and busmilan米兰体育官网esses.
Finally, I hope all milan米兰体育官网 you and your family will enjoy another happy and vigorous year, remaining attentive to your health and safety.
Thank you agamilan米兰体育官网.
