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Thank you very much for your ongoing support. I would like to add a few words on the occasion of the publication of our Corporate Profile 2010. Although the Japanese economy showed signs of improvement in 2009, with inventory adjustment and an increase in exports, its future course remained uncertain. For the disaster prevention industry, 2009 saw the spread of new strains of influenza, in addition to diverse threats such as typhoons, earthquakes, and fires that caused intense human suffering. The industry was challenged to respond as risks and disasters exceeded expectations. Continued concerns over international terrorism and other man-made disasters ensured that improvement of public safety and security systems remained a high priority. Japan pursued a comprehensive fire safety and disaster preparedness policy, for example, by further consolidating fire departments to cover broader areas, strengthening Emergency Fire Response Teams, and upgrading regional firefighting ability. Necessary measures against new strains of influenza have also been taken. In the fiber industry, where linen business is our specialty, linen retained its high popularity as an outstanding natural material in the clothing and high fashion sector, in part due to the general trend towards environmentally friendly materials. Even so, because of weak demand, credit insecurity and inventory reduction within the distribution channel, sales of thread for weaving and cloth did not rebound. Also in the finished linen products business, retail sales were stagnant. Meanwhile, in the advanced fiber business, although there is a continuing need for heatresistant, cut-resistant and other high-performance fibers for industrial applications, demand was weak and sales remained slow. Amidst this economic environment, in 2008 our company adopted a new medium-term strategic plan, “ Teisen (Teikoku Sen-I) 2010”, aimed at the expansion, development and enhancement of the business foundation that we have built to date. Over the past two years, the entire Teisen Group has worked to implement this new plan. As a result, although the environment in our fiber business remained extremely difficult, our disaster prevention business posted significant growth in 2009, mainly due to business opportunities related to the government’s supplementary budget spending. Thus, both income and profit increased markedly from the previous year. Consolidated net sales reached 23.5 billion yen (up 14.2 percent from 2008); pretax profit was 2.7 billion yen (up 63.8 percent); and net profit was 1.4 billion yen (up 45.7 percent). This is solely due to the end-users who are deploying our products effectively on a daily basis, and to the overseas partners who are supplying us with such outstanding products. Once more, I would like to express my heartfelt thanks. Our company continues to work for the accomplishment of the following three targets set forth in our medium-term strategic plan,“Teisen (Teikoku Sen-I) 2010”. 1. Develop and enhance value in our core lines of business , which are: ・Comprehensive and specialized disaster prevention and risk management business; and, ・Advanced fiber coupled with application development and comprehensive linen business, 2. Revitalize our business (sales) activities , by: ・Promoting business (sales) activities on the basis of solid marketing; while, ・Pursuing new and unique business (sales) models that are incomparable and unrivalled by others; 3. Enhance and sustain profitability. Reflecting our mission of enhancing public safety and security and our heritage as a linen manufacturer since 1907, we will continue to contribute to “a Safer Society and a Higher Standard of Living”, which has been the policy of the company since its founding. I humbly request your continued support. March 2010 |
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