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Congratulatory Speech (Summary) at the FY 2018 Welcoming Ceremony

April 2, 2018

History and the MVCV of Fujikura

This is the 134th year since the founding of Fujikura in 1885. Since then, during the first 100 years or so, the company has seen the healthy growth of its business by providing the Japanese markets for electricity and communication with products such as electrical wires, cables and other various parts. On the 120th anniversary of our founding in 2005, we announced our third founding as we christened the dawn of a new era and set our sights on further growth. We established our Corporate Philosophy MVCV, a mission for our group to "contribute to society and create value for customers through 'Tsunagu' technologies." The target concept of the third founding is "to be appreciated by customers, to be well regarded by society, to have employees who work energetically, and, as a consequence, to become a high profit company and a group." I ask everyone to learn, understand and practice the MVCV.

2020 Mid-Term Business Plan and Corporate Governance

The Fujikura Group started a five-year mid-term business plan in April 2016 under the slogan "Transform ourselves and bridge to the future! 2020 Mid-term." We aim to transform into a responsible company that can sustainably contribute to society by building a solid corporate foundation that will continue into the future based on high earning power and the power of strong "reinvention." In other words, we are striving to embody the MVCV itself. Our primary focus of this mid-term business plan is profitability. The most important index is set at a 7.0% or higher ratio of operating income to net sales in FY 2020. This year, FY 2018, marks the halfway point of the mid-term business plan and is an important year that will determine the success or failure of the 2020 Mid-term Plan.

Today, the Fujikura Group has grown to become a global company that employs 57,000 employees at 140 companies in 29 countries. We have started the rearrangement of group-wide management to become a truly global company that operates as a single company with shared goals. We are striving to establish a corporate governance system and structure in order to ensure efficiency and minimize risks.

The introduction of technologies that make use of IoT, robots and AI is progressing in manufacturing that continues to support Fujikura. Although the speed of business improvement is dramatically increasing with the use of IoT and AI, these are just tools. In the end, the "people," the abilities and characters of each employee, are essential. Things that cannot be achieved single-handedly can be achieved by having a team that complements individuals, and in doing so, we can achieve high goals. I am counting on all of you who have joined Fujikura today to be a member of the Fujikura team and serve as the driving force to change, grow and develop the company.

The Fujikura Group values each of our employees as an asset. We will make our utmost efforts to provide you with a comfortable working environment by incorporating workstyle and HR system reforms. I hope that each and every one of you holds high aspirations, have a willingness to take on new challenges, swiftly tackle those challenges, and act as an essential player as set forth in the MVCV.

President & CEO Masahiko Ito