Toyo Denki was founded in 1918 with the mission of pioneering railway electrical equipment manufacturing in Japan. Since then, and up to the present, Toyo Denki has continued supplying the market with variety of electrical equipment for railway vehicles and a wide range of industries, based on the motor drive technology that it has advanced since its foundation. In 2018, we celebrated the 100th anniversary of our foundation, which we consider was made possible by the support and patronage of our customers and other stakeholders. I would like to express my deep appreciation for this milestone.
Taking the centenary of its founding as an opportunity, Toyo Denki took stock of business resources in its group and formulated the four-year medium-term management plan “Revitalize 2020,” which targets 2020 for its nearest goal. In the first two years of this plan (from fiscal year ended May 2019 to fiscal year ended May 2020), which we regard as a period for further strengthening our business foundation, we strove to establish a firmer footing. In the latter two years (from fiscal year ending May 2021 to fiscal year ending May 2022), which we consider to be the period for making remarkable progress, we will focus on strategically developing our business, including overseas operations. Following this plan, Toyo Denki will strengthen its earning power and take a new step toward establishing a lean operating system that generates steady profits.
Based on the business foundation that we have built up over the past 100 years, we will globally offer high-quality products that combine the excellent motor drive technologies that we have cultivated since our founding and advanced breakthrough technologies to meet the expectations of our customers and other stakeholders, to further enable us to enhance our position as a specialist manufacturer that lives up to the reputation “Technology Toyo.”
We look forward to your continued guidance and support.
The Toyo Denki Group will practice the following business principles to ensure the growth of its business, earn the confidence and understanding of shareholders and stakeholders, and foster the development of its employees: