Message to Our Shareholders and Investors
Today, the automotive industry is at a major, once-in-a-century turning point. Since spreading around the world at the start of 2020, the novel coronavirus, or COVID-19, is having a huge impact on the global economy and the automotive industry.
However, even in such an unprecedented situation, we will not put the brakes on the progress already made. Our strengths can be found in our global production system, agile sales that address the needs of all automakers, our competence in R&D that turns innovative auto body design into reality, and a resilient financial base that supports these strengths. We will continue to improve our corporate structure for a new era by harnessing these strengths even more than before and taking advantage of the learning gained through this crisis.
As permanent measures for post-COVID-19 world, we will tackle the following three issues that lead to sustainable growth.
First, we will further strengthen our financial structure. In addition to maintaining and improving the reputation in the market such as the newly acquired credit rating A-, we will build a stronger and more stable management base by improving the equity ratio at every Group company.
Next, we will further accelerate productivity improvements using digital technologies. With the automation of production sites, we will reallocate the work of humans and machines and reconsider the potential of utilizing human resources.
Finally, we will promote new workstyles and business styles through the utilization of data and digital technologies in the supply chain and so on.
With the COVID-19 pandemic, our forecast for the fiscal year ending March 31, 2021 indicates that our global network will suffer a major blow, however, we will keep profits to respond to the trust of our stakeholders. Moreover, we intend to be a company that lives up to the expectations of all stakeholders around the world, even in a post-COVID-19 world.
This year we mark the 10th year in operation since being founded on April 1, 2011. We would like to thank all of you for your continued support. Although it will be a challenging year that we have never experienced before, I will drive the company with forward-thinking approach and a sense of speed. I humbly ask for the continuing support of shareholders as we move forward.
June 19, 2020