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An overall view of the global economy shows us that economies in Europe and North America are still in turmoil with uncertainties over their financial systems, while Japan is in a precarious situation marked with continued deflation, appreciation of the yen and other factors suggestive of yet another bottom. On the other hand, China and other newly emerging economies are further strengthening their presence, accelerating the multi-polarization of the global economy. Moreover, major problems including global warming, water and food shortages, and rising prices of resources are becoming increasingly obvious and concerned. Now the world is seeing a great structural change, a paradigm shift.
Turning our eyes to the history of the Sumitomo Electric Group, we have overcome numerous difficult periods and have always turned these difficult times into opportunities for future growth. This year we are being called to carry out brave reforms in our respective day-to-day duties and broader business activities to build a strong corporate constitution flexibly responsive to the changing times, on the foundation of the unchangeable principles of “Banji-nissei (do your sincere best, not only in business but in every aspect of your life),” “Shinyo-kakujitsu (place importance on integrity and sound management),” and “Fusu-furi (do not act rashly or carelessly in pursuit of easy gains).” In view of the above, I would like to ask you to pay special attention to the following three items this year.
First of all, I would like you to commit yourselves to continuous improvement activities and adopt an uncompromising attitude toward results.
It is vitally important that every one of you becomes more alert with regard to your duties to identify possibilities for improvements in SEQCDD (Safety, Environment, Quality, Cost, Delivery and Research & Development) in order to respond to the rapidly changing expectations of customers and society. For effective problem solving, it is also pivotal to stick to the principle of the three “actuals,” that is, examining actual sites, actual products and actual situations, in order to detect latent problems.
I would like each of you to pursue SEQCDD activities and other improvement activities in your workplace or process, aiming to realize a self-sufficient work process for the whole organization, while maintaining close communication with those around you with a healthy dose of tension and mutual thoughtfulness, and being uncompromising about results.
Secondly, I would like to ask you to acquire the habit of quantification.
Given the dynamic and rapid changes taking place in today’s business environment and the ongoing expansion and globalization of our group, quantification, or putting forth timeframes, amounts and figures, and concrete measures, is particularly important. Quantitative approach, in which goals, concrete methods and strategies, and schedules are clearly expressed, enables for the involved parties to share such information and coordinate their efforts toward the common goals.
In the past, companies had the luxury of letting their tacit knowledge and expertise pass on to future generations as in-house strengths over a long period. Today, taking time can be a great hindrance to future business development in this age of rapidly progressing diversification and globalization. Therefore, I would like you to consider standardizing and to try formulating in figures, texts and manuals to facilitate the sharing of such tacit knowledge and expertise among everyone concerned. I would also like to ask you, once such reformulation will have progressed, to identify truly important sets of tacit knowledge and expertise and continue to refine them and transmit them to future generations.
My third request for you is to “Put your heart into it!”
The phrase “Banji-nissei,” a pivotal concept of the Sumitomo Spirit, tells us to do our sincere best not only in business but also in every aspect of our lives. In this turbulent period, I would like to ask each of you to remain enterprising, adventurous, innovative and goal-oriented and does your sincere best in the spirit of doing all that is possible and leaving the rest to Providence. I would also like each of you to work well when it is time to work and switch off completely when it is time to rest and take good care of your physical health. I would like to ask you to review your work procedures to improve work efficiency so that you can enjoy your work and private time to the fullest.
In closing, I would like to take this occasion to ask you to renew your knowledge of compliance and corporate ethics and take them to heart, and pursue your daily work in a positive and spirited manner with a constructive sense of crisis. Once again, please keep in mind my three requests: to commit yourselves to continuous improvement activities and adopt an uncompromising attitude toward results, to acquire the habit of quantification, and to put your heart into it, so that we can continue to progress toward a “Glorious Excellent Company.”
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