Message to Our Shareholders and Investors
We would like to start by expressing our heartfelt gratitude for the continued support of our shareholders.
When the automotive industry was already undergoing a revolution, G-TEKT was hit hard by the spread of the COVID-19 novel coronavirus that began in 2020. Fortunately, our production recovered earlier than expected, with April to May 2020 being the bottom for the fiscal year ended March 31, 2021. Since then, our business performance has recovered rapidly from the impact of COVID-19.
The external environment for the automotive industry has changed dramatically over the past few years, especially with the emergence of transformational technologies such as CASE and MaaS, as well as climate change, COVID-19, and similar problems. G-TEKT formulated a new business strategy with the aim of becoming a resilient company. We are now able to respond with agility and flexibility to any kind of change in our operating environment. We will continue our mission to help resolve environmental and societal problems through our business, and in this way contribute to building a sustainable society.
The most important issue that we have to address is protecting the global environment. In November 2020, we declared the intention to reduce our effective CO2 emissions to zero by 2050. In April 2021, we strengthened our environmental initiatives by launching the GX (green transformation) project as a systematic response to global environmental issues, especially saving energy, using more renewable energy, and generating some of our own power.
We are also setting up operations focused on electric vehicles (EVs) because we see the need to address global environmental issues as an opportunity for growth. To widen our lineup of EV-related products and to participate in the development of dedicated electric vehicle platforms—based on our body in white analysis technology—we will create new businesses for, among others, EV battery housings that can be customized for specific needs and electric powertrain components.
Also, through our DX (digital transformation) project, we will use digital technology to dramatically improve both manufacturing reliability and corporate value in the two areas that are most important for transforming our corporate structure: quality and cost.
To execute this new strategy, we will need employees with varying levels of experience and a range of skills. To hire the most effective people from outside the company, we will revise the HR system to build an environment where people from diverse backgrounds can fully participate.
Due to your continuing support, G-TEKT recently celebrated the 10th anniversary since being founded on April 1, 2011, and once again we would like to express our appreciation to all our shareholders. The business environment will undoubtedly remain challenging, but we will not hesitate to move ahead decisively with reforms and to work straightaway to change course for the company. We deeply appreciate your continued support.
June 18, 2021