IBIDEN Group started business in 1912 as Ibigawa Electric Power Co., Ltd. with the mission of serving as the engine that would drive the local economy. Over the years it has harnessed the power it generated as it evolved into an electrochemical company before finally shifting the focus of its business operations to construction materials, electronics, and ceramics. This November, we will celebrate our 105th anniversary. We would like to take this opportunity to thank all those who have kept the IBIDEN Group in business for more than a century.
In April 2013, we launched our consolidated medium-term management plan, "Challenge IBI-TECHNO 105 Plan," covering the five years. Under this plan, we are working to build a corporate structure designed to adapt to changes in the business environment with the focus on developing the human resources needed to sustain and grow our businesses over the next 100 years. Specifically, we are implementing a unique operational improvement initiative dubbed IBI-TECHNO innovations, focusing on the "5S," TPM, "Jikoutei kanketsu (built-in quality with ownership) activities," and "crosssectional teamwork activities" based on "Genchi (actual site), Genbutsu (actual thing), and Jigakari (on-site solution of problem)." We tell our employees that, whenever a problem arises, they should get out to the site to see and solve the problem themselves. That is the way they develop problem-solving skills and earn a sense of achievement that will in turn motivate them to aim high and take on new challenges. It is the kind of virtuous cycle we aim to create. We are also actively promoting employee health through work-style reforms and other initiatives. While building an operational foundation centering on personnel development in this way takes a lot of time and hard work, our efforts have been steadily paying off. Last year we were selected from among numerous suppliers by a customer in the electronics industry to be the recipient of the highest award given to companies whose performance is outstanding. It was the third consecutive year we won this award. We were also recognized by the Ministry of Economy, Trade and Industry and the Nippon Kenko Kaigi under the 2017 Certified Health and Productivity Management Organization Recognition Program. This fiscal year marks the final year of our ongoing medium-term management plan. While our performance declined sharply last fiscal year, everyone across the IBIDEN Group will work together to build a solid corporate structure and turn the business around.
The Group also makes fulfilling its corporate social responsibilities (CSR) one of its key priorities. We will not only comply with laws, regulations, and international standards, but also ensure transparency in management to remain trusted and highly regarded by all stakeholders.
On a final note, in June 2017 we will start preparing for the FY2018 launch of a new five-year medium-term management plan under our new management team. While focusing on personnel development, we will work to bring new products to the market as soon as possible with the aim of becoming a company that continues to grow and embraces diversity in the workplace.
We look forward to your continued support for many years to come.
President & CEO