New Year’s Greetings
We aim at TOYO that contributes to the business development of our important customers and that is relied on and sought after by them.
We will strengthen our overall global business capabilities and promote the sales of products based on the concept of SDGs. And we will increase our corporate value through improvement of business environment by carrying out strengthened internal controls.
Dear Stakeholders, Happy New Year 2021!
At the beginning of the new year 2021, I would like to express my heartfelt appreciation to your continuous patronage and supports to us in the past year.
To reflect on the last year, we had an unusual year we had never experienced before due to the novel coronavirus outbreak since its very beginning. Having been asked by Japanese government and municipalities to refrain from travelling, our business activity was much restricted. As a result, we must have caused you a great inconvenience to you due to few visits and field services. At this opportunity, I would like to apologize about it from the very bottom of my heart. At the same time, we are deeply obliged to you for the continued and warm supports despite of such conditions.
In Japan, even after the declaration of emergency state was lifted, employment and income environment remain on the worsening trend, and it is impossible to foresee when we can expect business recovery. On the other hand, outside Japan, we feel the economy has bottomed out and business is picking up gradually, though different countries have different situations. In addition, we started to see the light of hope as development and approval test of coronavirus vaccine are in progress in many countries.
However, it is still hard to foresee where geopolitical economic power balance goes after the presidential election of the U.S., and the threat of the novel coronavirus is expected to continue, both of which make our business activity unpredictable.
To look at our market situation, while IT, electronic equipment and medical-related industries in China are solid, we see automotive and daily essentials-related industries in Japan, South East Asia. Europe and North America show different pictures.
Under such global economy climate, we are boosting the development of the refreshed version of the Si series Plastic Injection Molding Machines, and we will be putting renewed BD series Die-casting Machines into the market shortly.
As opportunities to meet present and potential customers, we participated in “IPF2020 virtual” held online and real exhibitions in China and other countries last year. At this time, I would like to express my hearty appreciations for your visits to such exhibitions. On production side, we added some large-sized precision processing machines and completed a new assembly building at our Akashi factory. These new facilities allow us to produce more big-sized products with even shorter lead time.
Our fiscal year of 2021 marks the starting year of our new medium-term business plan, where we are intending to improve our corporate value through strengthening the overall capabilities in our global operations, developing products that can contribute to SDGs, and improving the business environment by strengthening and ensuring proper implementation of our internal controls. We believe our new business plan contributes to the business of our customers and the development of the whole society.
Due to ever-rampant novel coronavirus, the new year has started in an unusual atmosphere where we need to survive COVID-19 in a so-called “new normal” living style. I sincerely hope we can put the coronavirus under control as soon as possible, so the new year would be a year when the business can pick up again, and The Tokyo Olympics can be held without health concern.
This year, we continue to be a company relied upon and sought after by our stakeholders including precious customers and distributors, by contributing to their individual businesses. We would appreciate it if you would give us warm and solid support as you did until today.
In concluding my New Year’s Greeting, I would sincerely wish you and your family a year filled with prosperity and happiness.