Press Release
President's New Year Message (summary)
January 4, 2018
Sumitomo Electric Industries, Ltd.
Osamu Inoue, President & COO
Happy New Year to you all!
Looking back at 2017, there were drastic changes in the global economy and trading or diplomatic policies including the US's revision of NAFTA and withdrawal from the TPP and the Paris Agreement as well as China's promotion of the One Belt One Road Initiative. Last year also saw increasing geopolitical risks, as evidenced by terrorist attacks around the world and nuclear and missile tests conducted by North Korea. This year, the global situation is likely to remain critical since various potential risks continue to exist in global society and the world economy. Meanwhile, almost all aspects of our lives are changing radically because of the progress of information technology and the advancement of globalization at a greater speed than ever before. In our business, we should adapt to trends in order to cope effectively with the changing times.
Based on this recognition of the global situation, I would like to request that you will strive to meet the following three requirements.
- 1. Promotion of Workplace Diversity and Growth as a Global Corporate Group
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To ensure that the Sumitomo Electric Group continues its growth as a global corporate group, it is essential that the Group utilizes a wide diversity of human resources. The respective companies and departments have already taken various initiatives of their own, including the utilization of the SEI Group Global Executive system, the introduction of a telework system, and the establishment of promotion systems for local staff in our oversea group companies. I would like you to promote these initiatives even more aggressively. We have also pursued work style reform to encourage employees to take more paid leave and reduce their total annual working hours. This year, I ask each of you to review your own work style once again and to improve your business efficiency and productivity. To managers and leaders of each section, I would like you to exert your leadership in promoting work style reform by considering the characteristics of the business in your respective units or departments.
- 2. Thorough Implementation of Compliance
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Last year saw many scandals involving major companies, including century-old industrial giants. These companies have lost the long-established confidence of society due to various cases of misconduct. Since the Sumitomo Electric Group supplies a wide variety of products to markets in around 40 countries, we must always keep in mind that compliance with laws, regulations, and various other rules is the absolute requisite to maintain societal trust and ensure sustainable growth. Please conduct your duties in accordance with the Sumitomo Spirit and make sure that you "do not act rashly or carelessly in pursuit of easy gains," and that you are "placing prime importance on integrity and sound management." For this purpose, I would like to ask managers and leaders to create an open, lively, and friendly workplace to ensure that your staff can consult with you about even small matters.
- 3. Further Evolution of SEQCDD
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SEQCDD (safety, environment, quality, cost, delivery, and development) indices represent the soundness of our management. Concerning safety, quality, and cost, I truly hope that you will set lofty goals and strive to achieve them through the implementation of concrete initiatives with patience, persistence and passion.
As regards "development," I ask members of the development team to understand the users' viewpoint, placing priority on user satisfaction.
We have only three months left before the termination of the mid-term management plan VISION 2017. Never give up, take a proactive approach, and enjoy your day-to-day tasks.