New Year Message to Employeesby President & CEO Yutaka Yamada

Jan. 5, 2009

A Happy New Year to you all.
I sincerely hope we can start the year 2009 with a refreshed resolution.

Under the circumstances of a global recession, I am thinking of reacting with compound eyes, namely with both "short term" and "medium-to-long-term" views.In other words, both “Action for Survival” under upwind and “Action for Sustainable growth” are essential.

As "short term measures", I would plan to secure a certain level of new orders and to suspend expenditures with low priority. Fortunately even in a reversal wind, we have had some promising projects mainly in the areas such as upstream resource development, infrastructure and fine chemicals, on which we would like to exert our efforts. During the three years of our current medium-term corporate strategic plan, I think we have equipped ourselves with capabilities to try such new business fields and to succeed in winning new orders there.

Then, as for "medium-to-long-term measures", we are now wrapping up the next medium-term corporate strategic plan that will start from April this year. By assiduously implementing this plan, we will aim to enhance our corporate value as a business group as a whole and to grow to be a world class engineering company that has earned the trust of its client as a partner.

Although I must admit that the surrounding situations will continue to be severe for some time, I wish all of us to deal with immediate difficulties head-on and accomplish what we should do speedily as well as with tenacity. I dare say that this is a good chance to demonstrate the real strength of our company and fellow workers who, in the past, had overcome various difficulties, created new values and every time made the company stronger and leaner.
Let us take this severe situation as a chance and advance forward with confidence and courage, no matter what uncertainty and upwind wait for us this year.

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