To our shareholders
We would like to take this opportunity to express our sincere appreciation to you all for the exceptional support that you have provided to our company.
We would also like to express our heartfelt sympathy to all those who were affected by the Great East Japan Earthquake disaster which hit the eastern part of Japan and earthquake that struck the northern part of Nagano Prefecture.
We pray for your safety and good health and hope that the disaster-stricken areas will be rebuilt as soon as possible.
We would now like to turn our attention to our financial results for the 87th term (the fiscal year beginning on April 1, 2010 and ending on March 31, 2011). The business environment surrounding our group has been slowly recovering following the major recession that has continued from 2009. Even so, it has still remained in a severe state due to such factors as the reduction in the government's economic-stimulus measures and the continued appreciation of the yen.
Under these circumstances, we have worked toward creating a corporate environment and structure that would generate steady profits. Specifically, we have endeavored to strengthen our existing businesses, expand our new business areas and restructure our business processes to improve our earnings. These efforts were successful to the extent that we were able to secure profits and reduce interest-bearing debts.
However, given our retained earnings, we have decided to forgo dividend payments to our shareholders for this term. We truly regret having to make this decision and ask for your understanding of our situation.
There are grave concerns over how the Great East Japan Earthquake will impact the domestic economy in the near future. Nevertheless, we intend to withstand any such negative impact by striving to strengthen our global strategies, create new energy-saving and environmentally friendly products and enter into new fields of wireless applications. We aim to achieve this by maintaining balanced growth in our three major segments, namely “Information and Communications Equipment,” “Mechatronics Equipment” and “Power Supply and Energy-related Equipment.”
In addition, fiscal 2011 marks the final year of our mid-term business plan entitled “Innovate NJ2011.” We therefore intend to use this year to further reinforce our management base, which will form the foundation of our next mid-term business plan.
NJRC and our subsidiaries will work together to sustain our efforts to best meet the expectations of our shareholders. Please continue to provide us with your steady and unflagging support and patronage.
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| June, 2011 |
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Tomoshi Maruyama
President |
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