Corporate Philosophy & Corporate Principles (Top Message)

Corporate Philosophy & Corporate Principles (Top Message)

Message of the Company President

President Shigeki Kinoshita

Challenge with Passion
Boldly take up challenges with passion

I would like to express my appreciation for your support.

During the consolidated fiscal year under review, the Japanese economy experienced a moderate recovery, as evidenced by robust capital investment and improvements in the employment environment; however, the future outlook remained uncertain due mainly to natural disasters that occurred throughout Japan and the impact of the U.S. administration’s trade policies on the global economy.

Under such a corporate environment, the Company advanced active business expansion in line with the three key objectives of “Solidification and expansion of existing businesses,” “Growth through expansion of peripheral business domains,” and “Initiatives for future business development in preparation for 100th anniversary” within its Mid-term Management Plan (April 1, 2015 to March 31, 2020).

[Three main objectives of the Mid-term Management Plan]

      1. Solidification and expansion of existing businesses
      2. Growth through expansion of peripheral business domains
      3. Initiatives for future business development in preparation for 100th anniversary

Concerning “Solidification and expansion of existing businesses,” we are aiming to further improve profit by promoting various measures, including expanded sales of environmentally-conscious engines and the development of products that will respond to new market needs, leveraging the technology we have developed to date. In addition, in order to respond to the growing trend toward larger marine engines and diversifying needs, including for fuel, in the maritime and shipbuilding industry, which is the principal market for the Company, and to strengthen initiatives for the improvement of product quality and reduction of environmental impact, we constructed a new factory for the first time in approximately fifty years in Himeji City, Hyogo Prefecture. The factory started operation in August 2018 and shipped its first engine in October. We aim to expand our business in order to further respond to customers’ requests through establishing optimum production structure consisting of three bases: the new Himeji Factory, which is equipped with state-of-the-art production technology and facilities, and the Moriyama First Factory and Moriyama Second Factory, both of which have outstanding expertise.

Concerning “Growth through expansion of peripheral business domains,” the Company is broadening the lineup of its next generation cloud-based engine condition monitoring system and its environmentally-conscious solution products, and provides customers with the best solutions which are environmentally friendly and realize the improvement of customers’ convenience and safety as well as the reduction of total lifecycle cost. Also, orders have been strong for a selective catalytic reduction (SCR*) device that conforms to NOx regulations effective from January 2016. Going forward, the Company will increase its presence as an engine manufacturer with excellent environmentally-conscious technologies.

Concerning “Initiatives for future business development in preparation for 100th anniversary,” the Company is advancing initiatives to (1) establish a growth foundation by improving shareholder value, and (2) restructure the business portfolio. As a part of these measures, the Company is working to strengthen corporate governance and enrich dialogue with stakeholders. In addition, the Company will conduct management with the goal of continuous growth, while remaining aware of shareholder returns, including improved payout ratios.

In order to conduct management in compliance with legal and corporate ethics, fulfill our corporate social responsibilities, and obtain the trust of all of our stakeholders, we are working to ensure that each and every employee has a thorough awareness so that they recognize the importance of compliance when carrying out their daily duties and activities.

Although the shipbuilding and maritime industry, which is the principal market for the Company’s sales, is expected to continue to face a challenging environment, under the “Challenge with Passion” slogan, each and every employee of the Company will continue to boldly take up challenges with passion.

I would like to request your further understanding and support of the Company.

 

*SCR: Device that detoxifies NOx in exhaust gas by using a catalyst

President Shigeki Kinoshita

Corporate Philosophy & Corporate Principles

Corporate Philosophy

We shall strive unstintingly for the betterment
of society and symbiosis with our neighbours,
drawing on the bold spirit of creativity
and yearning for technological achievement
we nurture within ourselves.

Corporate Principles

1.

To provide new products and services by
anticipating market needs and pursuing
a true form of Customer Satisfaction.

2.

To develop new areas of business which
are gentle on the global environment and
viewed from a widening global perspective.

3.

To build an energetic and positive-minded
corporate environment, on a strong but
flexible management structure which enable
us to swiftly respond to changes in the
business world and secure necessary profits.

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