press release

happy new year.

Last year, the Japanese economy as a whole showed a gradual recovery, despite growing tensions over trade issues and concerns about the future of the Chinese economy. However, last year also saw the record-breaking winds and rains of typhoons Faxai, Hagibis, and Typhoon No. 15, No. 19, and No. 21, which caused severe damage in many areas, including floods and landslides caused by river levees collapsing. While we would like to express our heartfelt sympathy to all those affected, we are also keenly aware that this extreme climate change means that preparing for unprecedented levels of disaster is an urgent management issue.

On April 25th of last year, we announced the results of an investigation by an external law firm into the "improper quality control (QC) incidents," and most of our customers have now completed their confirmation of the performance, soundness, and safety of the products in question. In addition to carrying out the corrective measures currently underway, including the measures to prevent recurrence, we would like to take this opportunity to promote a fundamental change in mindset, including reform of Fujikura Group 's corporate culture, and in the process, strengthen our business and "restore and improve our corporate value."

In order to increase "corporate value," we believe it is necessary to increase Fujikura's value to customers, shareholders, and, of course, Fujikura employee, i.e., the Fujikura brand. To achieve this, we believe it is most important for the management team to clearly show Fujikura employee what kind of social contribution they are aiming for and what direction they are leading in order to maintain a sustainable company, and to align the vectors of the company's vision and Fujikura employee' vision by gaining their understanding. Companies with high Fujikura employee engagement have these vectors aligned. By increasing Fujikura employee engagement, Fujikura employee desire to improve the Fujikura brand will increase, and more motivated Fujikura employee will be able to think carefully about how to improve value from the customer's perspective, which will provide high value to customers and give them an "impression" that goes beyond customer satisfaction. As a result of increasing value from the customer's perspective, we believe that value from the shareholder's perspective will naturally increase as well.

As all Fujikura employee are aware, the current environment for our main business is extremely tough. However, at the root of our organization culture is the source of strength that has always allowed us to come together and overcome crises when they arise. Now, in the midst of a tough business environment, I want to bring together the strengths of all Fujikura employee and pave the way for new paths forward.
Everyone, let us work together to restore and further improve Fujikura's corporate value.