Message from the President

Improving Corporate Value

I believe the global economy that we operate in is undergoing major changes.
The general view of the future global economy is for a marked slowdown and sluggish growth rates in emerging nations like China and further economic expansion led by the US economy, but I think we must be aware of overly optimistic ideas and take a highly cautious and watchful approach. It is important, therefore, that MARUWA works to strengthen its management structure, so that we are resilient against the effects of economic fluctuations.

The key points in doing this are the further promotion of the company system to form the core of the Group's management, and the development of human resources. For the promotion of the company system in particular, we shall bolster Group management functions while slimming down headquarters’ functions, and ensure autonomous management by the companies so that they can rapidly adapt to changes in the market environments and elsewhere.

From FY2015, the government's new growth strategy has incorporated the underpinning of corporate governance, as well as the introduction of a Japanese version of the Stewardship Code and revisions to the Companies Act. Demands for stronger corporate governance are continuing to gain strength.

We have a small but elite team of five members of the Board of Directors, a three-person Board of Auditors, which includes two outside auditors, and an operational executive structure formed of executive officers. Additionally, we have recently appointed two new outside directors to the Board of Directors.
Through this, we are able to gain transparency and soundness in our management structures and systems. In our Group, fusing ceramic material technology and manufacturing technology, developing differentiated products to achieve profit growth with the top global share unassailable by our competitors, and optimizing the satisfaction of our stakeholders primarily through our company's development are central to our fundamental management approach.

All of our employees shall strive even harder, as a combined and cohesive team, to work together on issues related to management and to achieve our goals.

We hope you will understand and appreciate our Group’s business position, and that you will continue to give us your support and advice.

Sei Kanbe President (signature)

Sei Kanbe
President
June 2016

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