My name is Takuya Nakata, and I have recently assumed the office of President and Representative Director of Yamaha. As the new president, I would like to say a few words to our stakeholders.
In recent years, Japanese industry has experienced adverse business conditions including financial crises, the protracted appreciation of the yen, and fiercer competition. Yamaha is no exception and has also felt the considerable impact these conditions have had on Company earnings. Needless to say, we have dealt with these problems and have also worked hard to produce a wide range of products and services and carry out business structural reforms. And now we are seeing the results of our efforts take shape. We have gotten off to a new start toward continuous growth. However, there are still issues that need to be addressed on an ongoing basis in the area of business structural reforms. Further, to deal with exchange rate volatility, we have cut costs and taken other steps. With the recent favorable turn in circumstances, there are also risks that we are apt to take lightly, therefore, we must always proceed with extreme caution.
Yamaha has long been a company that has sought to satisfy customers based on its corporate objective of “CREATING ‘KANDO’ TOGETHER.” To continue to create what customers want, even amid social diversification and globalization, we must always face our customers squarely and continuously produce what they really want. To that end, it is vitally important that each and every employee at Yamaha maintain the customer’s perspective.
In 2012, Yamaha marked the 125th anniversary of its founding with the support of its stakeholders. In 2013, we formulated YMP2016, our new medium-term management plan, and got off to a new start toward a new phase of growth. Realizing that 2013 is a challenging year in which we seek new growth, our goal is to achieve growth for Yamaha, a company whose operations are centered on sound and music, through the steady implementation of the strategies laid out in YMP2016. Please look forward with anticipation to the new Yamaha.
President and Representative Director