Greeting from President
We live in an era of great transformation for the automotive industry. The foundations that will enable us to respond to this challenge are the technologies that we have developed throughout the more than 90 years since our founding, and the individuals who carry on and develop those technologies.
In October of 2019, Akebono established a new management structure and took on a range of business structural reforms under our Business Turnaround Plan. We have been steadfast in implementing the Turnaround Plan with measures such as the restructuring of facilities and optimization of production. We have also been working steadily to strengthen our business foundations for future sustainable growth.
In recent years, uncertainty in the business environment has been exacerbated by the global COVID-19 pandemic, production cuts by auto manufacturers due to shortages of semiconductors and other parts, as well as soaring energy and raw material costs. However, regardless of these circumstances, we must ensure that the Turnaround Plan is achieved by the end of June 2024.
We require the efforts of all employees to achieve the Business Turnaround Plan and future growth beyond. I have established “5 Attitudes” to serve as guidelines for everyone in Akebono: (1) Always have a strong “customer first” mindset; (2) Proactively propose solutions, and get the job done with aspiration and grit; (3) Have a deep awareness of cost reduction; (4) Adopt the “5-Gen Approach”: Genchi, Genbutsu, Gennin, Genri, Gensoku (“Go to the actual place, see the actual things and confirm the actual facts. Then take action based on fundamental theory according to decided principles”); and (5) Accurately evaluate and reward people for their efforts, results, contributions and behavior.
With all employees working together and leveraging the technologies that Akebono has developed, the “5 Attitudes” are the guidelines for the successful achievement of the Business Turnaround Plan. I believe the attitudes themselves must serve as an expression of our organization's strength.
I also believe that as a company dedicated to Monozukuri (or Manufacturing Excellence), contributing to the world's safety and peace of mind is part of our core mission. For many years we have been promoting sustainability, and we are also engaging in initiatives to reduce our environmental burden, such as developing friction materials that halve carbon emissions in the manufacturing process, or brakes that reduce drag resistance to boost energy efficiency in conventional and electric vehicles. In these ways, Akebono’s technologies will strongly benefit society going forward.
For fiscal 2023, we have set the following organizational objectives: 1. Ensure achievement of the Business Turnaround Plan; 2. Further promotion of SQDC+E to strengthen Monozukuri (Manufacturing Excellence); and 3. Creation and development of business scenarios for future growth. By achieving these objectives, all employees can diligently work together to renew trust in the company and achieve the Business Turnaround Plan, thereby ensuring our growth into the future.
I would like to express my sincere gratitude for your support and look forward to your continued understanding and support going forward.
