Presentation Transcripts

These are three key areas in both our mid-term business plan and the "1 and/or 100" target for 2020. Since I became president, I have repeatedly emphasized that Minebea's extensive technological capabilities make us one of kind. At first we were more of a collection of small companies with each division off by itself doing its own thing. I worked to turn around by aligning all our vertical and horizontal strengths to create synergy. We will pick up the pace as we move forward in this direction.
Some employees, especially those who have been around longer than others, tell me that our products' market share is so high that it's impossible to go any higher. That's just wrong. There is still a world of demand out there waiting to be tapped. We must literally "change to grow." Working in light of this idea, I started taking initiative to cultivate demand across all existing markets.
We will launch a wide array of products like the ones I mentioned earlier while developing and marketing products that have real potential like our LED backlights. We will keep one step ahead of our customers so we can foresee their needs and act to make low-cost, quality products ahead of everybody else.
Lastly, we have been focusing on large-scale M&As and have been looking into various opportunities over the last six years that I have been president. There have been instances where we have come close to making a deal but then decided to pull out. Since finding the right partner involves a certain amount of luck, I really can't say when it will happen. Looking at our current cash flow and market capitalization though, I can say we are in a much better financial position to handle large-scale M&As than we were several years ago. I feel that we are at a crossroads.