I express my sincere thanks for your continued generous support.
The global industry for elevators and escalators now sees the strong growth of new markets in advanced countries. While the U.S. market is expanding, Japan has redevelopment projects underway mainly in large cities. By contrast, emerging markets now face difficulties. China, which has led the growth of the global market for elevators and escalators so far, suffers from declines in demand owing to the slowdown of the real estate market. The ASEAN region also sees a downturn in construction demand.
Against this backdrop, in this fiscal year Fujitec has started working on its new Mid-Term Management Plan "No Limits! Push Forward Together!" The new Plan is aimed at posting 200 billion yen in net sales and 16 billion yen in operating income by fiscal 2018. To achieve these targets, we are not only improving our global competitiveness, but also accelerating business development even further, thereby developing products and technologies that are tailored to the needs of each and every market. All members of the Fujitec Group will work together in order to achieve the revenue and earnings targets set for the final year of the Plan.
Your continued support will be greatly appreciated.
Fujitec Co., Ltd.
President & Chief Executive Officer