May 27, 2013,16:00 +0900(JST) Business Results for Fiscal 2012

On May 10, we released our business results for fiscal 2012. Although our sales increased, our income decreased. Of particular note was income, which even fell short of the forecast revised downwardly in the middle of the fiscal year. In the past five years of the VISION 2012, we aimed for further development.
However, affected by various challenges such as the global financial crisis triggered by the Lehman Brothers' bankruptcy, natural disasters both at home and abroad, and a super-strong yen, our efforts have ended with disappointing results and failed to meet your expectations.

As for the forecast for consolidated results for this fiscal year, we announced that the numerical targets would be sales of 2.4 trillion yen, operating income of 100 billion yen, ordinary income of 120 billion yen, and net income of 60 billion yen. Although the economic climate in Japan is slowly improving, whether we can remain competitive amidst the increasingly intensifying global competition totally depends on our strategies and efforts.

We will first continue our strong commitment to the SEQCDD (Safety, Environment, Quality, Cost, Delivery, and Research & Development) improvement, while acting upon the principle of the three "actuals," that is, examining actual sites, actual products and actual situations, to identify the truth of the situation and solve problems. I am encouraging all our members to strengthen the business structure to better ensure income even if the yen becomes strong again as it was until last year.

On top of this, we will facilitate the development of new technologies and products in order to expand our business domains. By doing so, we would like to promptly present new value to society.

Reflecting on the lessons learned from VISION 2012, all of us must renew our determination and continue to focus on the concept of Banji-nissei (do your sincere best not only in business but also in every aspect of your life.) In this regard, we ask for your continued support and guidance.

Fact Book FY2012 [PDF:339KB]

May 22, 2013,14:40 +0900(JST) Business Trip to India

On a tight schedule – only three days and two nights - I went to India to attend the opening ceremonies of the new headquarters and the new powder alloy products plant of the Motherson Group, our business partner in the country.

In India, with a general election scheduled to be held in 2014, both the ruling and opposition parties seemed to be employing more and more severe political tactics. Some people were concerned about a slight downturn in the country’s economic growth. When I visited our business partner’s plant near Delhi, however, the plant was bustling and maintaining its high operation rate. On top of that, the plant’s most recent trend of orders received was pretty good. I requested the partner to reinforce its SEQCDD (Safety, Environment, Quality, Cost, Delivery, and Research & Development) to solidify its internal structure in anticipation of possible economic changes and promised our further cooperation.

In this age of dynamic progress in globalization, it goes without saying that the key point for expanding a company lies in how to develop the company’s overseas businesses. One of the ways to do this is to establish cooperation with a reliable business partner, share objectives, and fight together with a view to securing long-term success as a going concern.
It is common for a company and a business partner with a different cultural background and customs to encounter conflicts of interest in their daily business activities. It sometimes takes time, patience, and courage to find an appropriate compromise for each of them. However, once you have decided to grow as a global company, such problems need to be overcome. I believe that it is important to consider a partner’s position and to do business together in good faith.

In front of the new headquarters

May 14, 2013,10:45 +0900(JST) Charles Gordon

I contribute an opening article to our company’s newsletter every month. Without sticking to one specific theme, I write about various topics that I find suitable each time. In the May issue, I wrote about Charles Gordon.
(⇒SEI NEWS "Ideal Authentic Leader"

Charles George Gordon was a British army officer in the Victorian era in the 19th century. Despite his distinguished military service, he continued to live a life of honest poverty without paying attention to status or assets, until his tragic last moments in Sudan, where he had been dispatched under government order to put down a revolt. Although his life was buffeted by the turbulent seas of the time, he always embodied the selfless spirit of one who dedicated his life to his country. I hear that the story of Gordon’s life and the example he showed is still handed down by word of mouth from generation to generation in the U.K.

It is said that he possessed amazing dignity and all the people who came into contact with him felt his charisma. He shares a great deal with my ideal management leader model, who realizes the concept of “captains of industry” and runs one’s company as a “non-conformist with a solid backbone.” This is why I’m very interested in Charles Gordon these days.

SUMITOMO ELECTRIC President CEO Masayoshi Matsumoto

Born in 1944 in Hyogo Prefecture, Masayoshi Matsumoto joined Sumitomo Electric in 1967. After serving as General Manager of Chubu District Office, Managing Director and Senior Managing Director, he assumed office of President and CEO in June 2004.

His leisure activities include jogging, reading and art appreciation. Also a seasoned athlete, he played baseball in junior high school and practiced judo in senior high school. In university, he threw the javelin competitively and participated in all-Japan inter-university competitions.

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