To Our Shareholders
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Please let me express my utmost gratitude to our shareholders for supporting us. The following are a few words of greeting on the occasion of this report on the results for the company’s 19th term of business. The year 2010 showed signs of recovery from the simultaneous economic slowdown which hit the world from 2008 through 2009, triggered by factors including exports to China and Asian emerging countries. Under such economic circumstances, the Company’s performance for the fiscal year ended December 31, 2010 showed a significant growth in all business areas compared to the previous fiscal year due to the strong recovery in the electronics industry which is our core business field, and consequently, net sales, ordinary income and net income showed the record-setting performance. In addition to our traditional procurement services and EMS (Electronic Manufacturing Services) for electronic components, logistics services such as VMI in which inventory management, storage and effective deliveries are conducted on behalf of customers, showed positive results. When we envision the global economic situations for fiscal year 2011, although there are indeed some fear factors such as sovereign risk problems in some European countries, shifting in Middle East situations, inflation spurt in China and emerging countries, moderate economic growth is likely to continue. Also, corporations around the world including Japanese companies are accelerating business deployment in the multi-polarized global market. A variety of needs for outsourcing services that occur along with global expansion of those companies will be the massive business opportunity for the Company, and we will continue to aim at the expansion of our branch network and advancement of our services, and strive to expand the operations by well capturing those needs. Finally, I would like to ask our shareholders’ continuous support towards the future. March 2011 Chairman & CEO |