27 January 2020

New Year's Address for Managers

At the beginning of each year, I make a tour of a number of bases of Sumitomo Electric to deliver an address for managers. Having started last week, this year's tour is expected to last until February and cover nine bases, where I will share with managers my determination based on this year's requests that I made to all employees on the first business day.

link: https://global-sei.com/company/press/2020/01/prs001.html

One of my requests is to "improve the profit rate with the involvement of everyone throughout the Group." In our consolidated business results for the first half of fiscal year 2019, the decline in net sales from the same period a year earlier was limited to 0.3%, while the decrease in operating income came in at 28.5%, meaning that the decline in operating income was much larger than that for net income. For problems whose causes are identified, we need to establish appropriate measures and implement them completely. For problems whose causes are unclear, we need to ensure that all those concerned rack their brains to help establish appropriate measures and implement them thoroughly.

The second request is to "operate based on a strong belief that all accidents can be eliminated." The basis for this lies in ensuring that all employees come to work in good health and go home in good health.

The third request is to "ensure legal compliance thoroughly." This is what I have been requesting every year since my appointment as President. It is a minimum requirement for a company to achieve sustainable development as an entity trusted and respected by society. In addition, it is important to achieve even better communication toward maintaining and improving a cheerful workplace environment while maintaining the necessary discipline.

Each of us at our corporate group will fully consider what to do in order to turn 2020 into a year for regaining our earning power at any cost to make our future even brighter. Incidentally, the fortune slip I drew at my New Year's shrine visit predicted very good luck. I hope that we will have fortune on our side.

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