We have positioned business development in China - with that country's huge potential - as a key strategy in moving forward towards a new challenge.
Since the company's foundation in 1879, we have aimed to perform management grounded in our basic principles of "customer first" and "standard level of quality."
Our management keywords of "business areas," "trust," and "efficiency" are paramount in stressing the idea of quality over quantity. This first keyword involves clarification of our business areas. We have established our own unique business area as an "integrated quality manufacturer from the sheep farm to the point of sale."
The second point refers to our accumulation of trust. Gaining our customers' trust is essential to ensure our long-term presence in both the markets in which we operate and society as a whole. Acquiring trust in our quality and trust in the company's CSR (corporate social responsibility) efforts are key factors towards this end. The third keyword points to improving our efficiency. By striving to improve the efficiency of all sectors of our operations, having each group company take responsibility as an integrated interest group, and realizing a high level of consolidated income, we aim to contribute to the success of the Group company and, in so doing, contribute to all of our stakeholders.
Throughout our long history, we have developed by making large changes where appropriate through making the necessary decisions and reforms. In recent years we have made a number of significant changes and have realized the results of these. These include the wholesale relocation of our Production Division to China; undertaking reforms to ensure that our technology reaches global level quality; making the change to a new income model through a switch to a SPA retailer centered on the Sales Division's NEWYORKER brand; and realizing the benefits of utilizing and expanding leasing operations of the company's own real estate assets. Our new medium-term management plan calls for continuing to advance our strategic efforts in each area in conducting business reform for the creation of a strong management foundation for our future global strategy, together with evolving into a global company that is based on such reforms.
As part of our strategy of evolving into a global company, we anticipate the tremendous possibilities of doing business in China. We would like to create new styles with both NEWYORKER and Puppy and achieve steady growth along with the expanding Chinese market. Furthermore, we will improve the areas where we have unique ability – our fine worsted, tailored clothing, and order-made technology – in order to expand our high-class, factory-direct suit studio "MILLION CLUB." Through the MILLION CLUB brand, we hope to assist business people, not only in China but in Japan and the rest of the world as well.
In these ways, our Group shall further implement management reform by collating the knowledge and collective efforts of all our employees in maintaining our desire to contribute to society and become an even more trusted company.
Towards this end we ask for the continued support and custom of all our stakeholders.
