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Press Release

President's New Year Message to Employees (summary)


January 5, 2015
Sumitomo Electric Industries, Ltd.
Masayoshi Matsumoto, President & CEO

I would like to indicate that future economic prospects appear murky again this year. In the EU, which is suffering from a continuously sluggish economy, there is a deflation risk, while in emerging countries, such as China, economic trends are uncertain. In the U.S., the only country that is on the road to economic recovery, there are many problems to be solved in the fields of both domestic politics and diplomatic affairs. Now that the country is in a state of so-called "divided government" between the President and the Congress, there is a concern that gridlock in the execution of policy might discourage the current economic recovery. Meanwhile, in Japan, to realize a full-scale economic recovery, it is imperative that a growth strategy should be steadily implemented. However, it is necessary to be aware that it will take much more time before the growth strategy begins to demonstrate positive effects, compared with symptomatic treatment, such as monetary relaxation and increased government spending. In this regard, as a company, we need to continue strengthening our business structure to secure our survival, rather than just waiting for the growth strategy's effects.

Based on the above situation, I would like to ask you to implement the following three things this year.

(1) Be Keenly Aware that You Are an "Innovator"

To do a job means to create new value. What should you do to create even better products and services? Even though you do the same job every day, what should you do to enhance the quality and efficiency of that job today, compared to what you did yesterday? It is essential to always try to find answers to these questions, and make necessary efforts, even though they are small. Improvement and innovation are themes that all of us at the Sumitomo Electric Group must work on.

Each of you is a representative of the Sumitomo Electric Group, and an innovator. I hope that you are strongly aware of this, cooperate with other team members in your daily duties, and work hard together in friendly rivalry.

(2) Promote Specific Diversity Measures

Globalization and diversity --- these are the key words expressing the current world. At the Sumitomo Electric Group, approximately 230,000 members work in about 40 countries in the world, providing various products and services to customers all over the world. In reality, however, we have not yet fully demonstrated the strength of diversity to be shown by a company employing such a wide variety of human resources.

At Sumitomo Electric Industries, last year, we initiated the Global Grade System and the Global Executive Personnel System as the first specific measures of the Global HRM Policy, established in 2011. In addition, we launched the Diversity and Inclusion Promotion Group. We will continue to make efforts to establish an environment where a wide variety of human resources can work vigorously and demonstrate their capabilities to the fullest extent possible, regardless of their nationalities, gender, and other characteristics. In this regard, I would like you all to consider the promotion of diversity as your own issue to maximize your team performance, and to take a step forward to implementing specific measures.

(3) Strengthen SEQCDD and Compliance with Laws and Regulations

SEQCDD*1 is the cornerstone of company management, and I have asked all of you many times so far to strengthen SEQCDD. Nevertheless, there is still a great deal that we need to improve in this regard.

I would like you all to carefully check once again at your worksites concerning what I asked you in my spring and autumn messages, as well as at the group-wide convention on safety and product quality improvement. I call on you to promote significant activities that will deliver tangible results.

With regards to compliance with laws and regulations, I hope that all of you are committed to work with pride, living up to the Sumitomo Spirit: Banji-nissei (Do your sincere best in not only business but also every aspect of your life); Fusu-furi (Do not act rashly or carelessly in pursuit of easy gains); and Shinyo-kakujitsu (Place importance on integrity and sound management).

*1 SEQCDD:Safety, Environment, Quality, Cost, Delivery and Development

The FY 2015 is the middle point of the term for our VISION 2017. To realize our VISION 2017, it is essential for all members to work on the above three points. I would like to ask you once again to definitely implement these points.

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