November 27, 2014,14:15 +0900(JST) 20th Anniversary Ceremony of Tianjin Jin-Zhu Wiring Systems Co., Ltd. and Ceremony to Celebrate the Launch of Mass-Production at Tianjin SEI-Futong Optical Fiber Co., Ltd.

On November 17 and 18, I attended the above ceremonies.

Since my involvement in Tianjin Jin-Zhu Wiring Systems Co., Ltd. dates back to its establishment, I was deeply impressed to find that the company has grown to what it is today, which made me feel "time really flies." The ceremony held on the 17th was attended by executives from the municipal government, the former deputy-mayor of Tianjin, old friends of mine, and many other people concerned. They gave us many congratulations and encouragements.

Partly due to the infrastructure development at the time of the Beijing Olympic Games, the modernized streets of Tianjin look totally different from what they used to be. At the same time, the rise in the living standard has led to higher levels of payment, making the employment situation tighter than before. In this regard, companies are required to come up with even more ingenious management ideas. I hope that the employees of Tianjin Jin-Zhu Wiring Systems will be able to work even harder than they do now.

I presented the former deputy-mayor of Tianjin with a Chinese poem of four lines with seven characters in each line, to express my feelings. He was kind enough to correct the poem. The following is that "joint work."

The poem expresses my joy in receiving such a warm welcome from people in Tianjin.

Nothing is better than old friends.

On the 18th, I attended the ceremony to celebrate the launch of mass-production at Tianjin SEI-Futong Optical Fiber Co., Ltd. The ceremony held at the company's new plant in the high-tech industrial park in Tianjin was attended by executives from the municipal government of Tianjin and the district government of Binhai High-Tech New Area, as well as many people providing cooperation for construction of the plant. We received many congratulations from them. At the ceremony, we pledged ourselves to always remember the spirit of Banji-nissei (Do your sincere best in not only business but also every aspect of your life), and to do our best to secure the growth and development of the new company.

November 27, 2014,14:05 +0900(JST) Our Athletics Club Secures a Place in New Year Ekiden

On November 16, the 57th Ekiden (long-distance running relay) for Business Corporations in the Kansai Region was held in Ryujin, in Tanabe City, Wakayama. Our athletics club took second place, enabling the team to compete in the New Year Ekiden to be held on January 1 next year. I would like to take this opportunity to express my appreciation to you all for supporting our team. This will be the second time for the team to compete in the New Year Ekiden, following last year.

On the day of the event, I had to go to Tokyo to attend the 100th anniversary ceremony of the Josuikai Alumni Association of Hitotsubashi University. The university is my alma mater, and I serve as president of the alumni association. Therefore, I was unable to cheer on the team in Wakayama. However, I received a mobile phone call with the exciting news while I was in Tokyo.

In two stages out of a total of seven, members of our athletics club were commended as the fastest runners in their stages. The team reduced its overall time by nearly three minutes from last year. Although our team was overtaken by Otsuka Pharmaceutical Co., Ltd's team in the final stage, and failed to win the race by a whisker, I'm convinced that the experience of having such close competition with one of the strongest teams in Kansai will give our team great confidence. I hope that the team will demonstrate an excellent performance in the New Year Ekiden as well, finishing in a much higher place than they did in taking 25th place last year. Actually, I've already given the team a specific target figure, but it's one of our corporate secrets!

I would like to ask you all to continue giving the team your generous support.

November 18, 2014,09:20 +0900(JST) I Attend a Special Agent Conference in Greater China

On November 3, I went to China and stayed there for three nights to attend a conference in Shanghai for special agents for Sumitomo Electric Industries in the field of electronics products in Greater China. The conference drew participants from China, Hong Kong, and Taiwan. Partly because the market is so brisk now, the atmosphere at the conference was very lively.

The conference was attended by about 60 executives from special agents for Sumitomo Electric Industries. A get-together was also held, which enabled me to obtain live information from the front lines, and to recognize once again the size of the Greater Chinese market and the progress of customers’ technologies. I was also able to confirm that, although the Greater Chinese market tends to change dramatically, there are big opportunities for us to expand our sales of electronics-related products. I would like to ask both our Japanese and local staffs to cooperate with each other and demonstrate their capacities to the fullest extent possible.

On my way back to Japan, I visited our affiliated companies in Hong Kong and Shenzhen, and listened to some reports on their business performances. The positive reports from staff at the companies made me believe even more strongly that the attractiveness of the Chinese market will grow even further. I’m now convinced that if the two countries separated by only a narrow strip of water supplement each other and share prosperity, a natural result will be prosperity among neighboring countries, too. The exchange of information and opinions with business persons in China showed me that many of them believed this as well, giving me hope and high expectations for future developments.

Together with members of affiliated companies in South China

November 18, 2014,09:15 +0900(JST) JIMTOF

On November 2, I went to see JIMTOF 2014, held at the Tokyo Big Sight.

JIMTOF, which marks its 27th anniversary this year, is one of the largest machine tool fairs in the world. I hear that the event this year attracted more than 130,000 people over six days. At the fair more than 800 manufacturers from both home and abroad set up booths, filling the venue with exhibitions of many products from all the companies.

The Sumitomo Electric Group also exhibited many new products that we were truly proud of, including cutting tools. When I visited our booth, I found many people there and our booth’s staff members very busy providing visitors with a variety of explanations.

Moreover, we connected the Tool Engineering Center (TEC) at our Itami Works with the event venue (Tokyo Big Sight) to display live images from the TEC, which enabled people at the event to watch how cutting was actually performed. By providing the opportunity for those at the venue to watch the live images, I believe we were able to better gain their understanding about our products’ advantages. We have TECs at five of our business facilities in Japan, and another five outside of Japan. Established to solve customers’ problems, the TECs feature cutting trial equipment and assessment equipment, with which they provide a wide variety of technical services.

Live broadcast of a cutting process being performed at the Tool Engineering Center (taken on October 31)

Since this was an exhibition of the machine tool field, a market that has been brisk recently, the atmosphere at the venue was generally cheerful. Although it was already November and a little cold outside the venue, the atmosphere in and around our booth was lively, our booth staff looking comfortable wearing short-sleeved shirts.

November 7, 2014,18:40 +0900(JST) Business Results for the First Half of Fiscal 2014

On October 30, we announced our group's consolidated business results for the first half of FY 2014 as follows: sales of 1310.5 billion yen, operating income of 47.9 billion yen, ordinary income of 59.5 billion yen, and net income of 78.6 billion yen. The rise in net income is partly due to extraordinary profit generated by the sale of our stocks of Sumitomo 3M (currently 3M Japan). Thanks to your generous support, we marked increases in both revenue and profit from the same period last year, and exceeded the business result forecasts that we had announced in July.

However, the situation will remain difficult for us in the second half of this fiscal year. There is growing media coverage of the concern about stagnation in the global economy, and geopolitical risks are increasing around the world. In addition, the spread of the Ebola virus infection may create a lull in the economic recovery. Moreover, if examined individually, each of our business domains still has many problems that we need to tackle.

Recently, I have provided senior managers with instructions to continue working on efforts to make the Sumitomo Electric Group robust enough to withstand economic fluctuations. I have also ordered them to consider how to offset our weaknesses and how to make full use of our strengths in each business field, as well as to unite and share wisdom to come up with effective strategies, thereby adequately preparing for the second half of this fiscal year.
I would like to ask for your continued support and guidance.

Fact Book FY2014 2nd Edition [PDF:1,100KB]

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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