President's Message

The goal of our Group is to implement our business philosophy, which is that "We shall contribute to the formation of an enriched, enjoyable and safe society through the ongoing pursuit of unrelenting creation and innovation." In order to become a company with a strong presence in the field of precision equipment, we formulated a new medium-term management plan covering the three years from fiscal 2016 to 2018. We are also endeavoring to create pleasing products and services, as well as to make us and our partners prosperous through our business dealings in countries around the world. We are taking the appropriate steps needed to follow our principles. To do so, we are building good relationships with our shareholders and various other stakeholders for the sake of the sustainable growth of our company and greater corporate value in the medium- to long-term, as well as by making our decision-making fair and transparent in accordance with the trend in society.

Our top priorities during the current to medium-term management plan are profitability (operating margin) and return on equity (ROE). Our goals for the fiscal year ending March 31, 2019 are an operating margin of 5% and an ROE of 5%. In addition, we aim to "become No.1 in our precision equipment categories." Thus, we are concentrating our business resources in our Group's strengths. Specifically, these strengths lie with clocks, emergency broadcast radios and small fans in our Clock Division; multipurpose small cameras and displays for gauges and other equipment in our Electronics Division; precision mold manufacturing and precision parts fabrication in our Precision Division; and connectors in small precision presses in our Connected Terminal Division. We are working to grow even more in these areas in the future.

The Group expanded aggressively outside of Japan beginning in the early 2000s. Due to the large discrepancy between the ratio of production we conduct overseas and the proportion of sales originating from outside Japan, exchange rate fluctuations exert a heavy impact. We are increasing our sales overseas, partly as a way to protect ourselves against these variable exchange rates. Furthermore, we are moving forward with streamlining our product lineup, making effective use of our assets, and imbuing our products and brand strategy with added value in the Clock Division.
Moreover, we are also aggressively pushing forward with M&A deals that will produce synergies with our existing divisions and lead to greater competitiveness. We are striving to become No.1 in our category and to increase corporate value.

With regards to delivering returns to shareholders, our basic policy is to maintain a steady dividend payout ratio of around 30%, and this year we set our dividend at 3 yen, the same amount as in the prior year. In addition, last year we acquired 14 million treasury shares for 2.3 billion yen, while this year we are continuing to implement this policy in a dynamic manner. At a meeting of the Board of Directors held on May 23, a decision was taken to acquire treasury shares beginning on June 1 of this year with a cap of 1.5 billion yen, and in October to retire the shares along with 20 million of the 21 million treasury shares currently in the Company's possession. A public announcement of this policy was released on the date of the Board meeting.

Meanwhile, on June 22 we introduced an executive officer system under which "operational functions" are separated from the duties of the Board of Directors, allowing the Board to concentrate on "decision-making and supervision." Operations will be delegated to executive officers in an attempt to manage the Company more swiftly, as well as to find a governance system that is appropriate to the Company and in line with the Corporate Governance Code.
This is how we are actively implementing measures to increase the profitability of Group companies and working to raise corporate value and our share price.
I hope I can count on the support and encouragement of all our shareholders ever more so onward into the future.


New Medium-Term Management Plan:"Become No.1 in our precision equipment categories"

Categories we aspire to leadd
Clock Division   clocks, emergency broadcast radios, small fans
Electronics Division   multipurpose small cameras, displays for small gauges, etc.
Precision Division   precision mold manufacturing, precision parts fabrication
Connected Terminal Division   connectors, small precision presses, etc.


Business Challenges

  • Increase operating profits and operating profit ratio
  • Build resistance to the effects of currency exchange fluctuations
  • Improve ROE

Global Network

Global Network

Business Philosophy

  • Business Philosophy

Business Report

  • Summary of the fiscal year ending March 2011
  • Clock Division
  • Electronics Division
  • Precision Division
  • Connected Terminal Division
  • Fiscal Section
  • Fiscal Section

Our Corporate Governance Position

  • Our Corporate Governance Position

Company Profile

  • Company Profile
  • Board of Directors/Auditors
  • Major Shareholder
  • Company History
  • Affiliated Company

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