Happy New Year! To start 2015, I would like to share my expectations and resolutions for the New Year and the years to follow with all members of the Mitsubishi Heavy Industries Group around the world.
Other happy news of 2014 includes the inauguration of Mitsubishi Hitachi Power Systems, Ltd., the new record for consecutive successes in H-IIA/B rocket launches, and the rollout ceremony for our Mitsubishi Regional Jet, the MRJ. While building these bases for future growth, we were able to identify the issues we need to work on in the coming years, including enhancement of awareness, sensitivity and response capability to expanding risk in globalization and market changes.
In April 2015, we will start the 2015 Medium-Term Business Plan. This three-year plan will serve as a lynchpin or foundation for the future of the MHI Group; we will further encourage our global activities and grow continuously and steadily.
It's true that the population of Japan is in a period of long-term decline and the domestic market will keep shrinking. Furthermore, many of the technologies for our competitive product business are due to reach maturity. However, we do not have to worry about such outlooks affecting our business environment. The MHI Group is competent and robust enough to lead the world with new technologies, and we must seek out ways to ensure our future. We will also set our sights on the promising markets in some of the developed countries that are expected to grow further as well as in many emerging countries.
In order to ensure our growth and development, we must compete with and win against the strongest players in the global market. Our overseas competitors ahead of us in globalization have been working steadily on business reinforcement strategies, and this means even more fierce competition for us. To take on this challenge, we must first set our corporate vision, ensure a shared understanding among all members of the MHI Group of how we will make that vision a reality, and tenaciously take the appropriate steps.
The wave of globalization has been building since the turn of the century. Like it or not, we cannot expect the speed at which it is rushing towards us to slow down. At times of great social and other change, it is critical that corporations as well as the people who work for them change and adapt to the new environment. Companies that refuse to change do not survive.
That's why I ask you to challenge the status quo together with me. No matter how difficult, take on the challenge of solving the most pressing problem in your division or workplace. If you cannot find a solution in your own division, go and seek support in other divisions or cooperate with external organizations. Share knowledge between divisions and create an open and cooperative environment as the corporate culture of the MHI Group.
In the 2015 Medium-Term Business Plan, we will aim to become a "highly profitable 5-trillion-yen enterprise" through the steady increase of the scale of our business and reinforcement of our revenue-making competency. To achieve this goal, we first have to further improve each of our proprietary technologies as well as the ability to integrate those technologies. Also, we have to reduce every possible cost in every possible area. I will take the lead in these endeavors. I expect you to work together with me on the improvement and reinforcement measures with a strong commitment and tremendous pride as a member of the MHI Group.
In this way, we will undergo a transformation to become a truly global company while undertaking continuous improvements in everyday tasks. Still, our priority will remain the same: safety always comes first. At our factories and construction sites around the world, safety will remain the top priority as we provide high-quality and easy-to-use products and services to our customers.
For the members of the MHI Group, the year 2015 is a year in which to take on new challenges in the course of creating our ideal organization. Let's aim high and believe in our abilities; act positively, but stay humble.
I wish you a happy and fruitful year.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.