Message to Investors
In the fiscal year ended March 31, 2016 (fiscal year 2015), the economic situation remained unclear. While the price of crude oil and other natural resources continued to fall, countries that import such resources benefited from lower costs and were able to increase investment. As a result of the rapid appreciation of the yen that commenced at the beginning of the year, the economic outlook became increasingly uncertain.
Under these circumstances, the Yokogawa Group focused in the first year of the Transformation 2017 mid-term business plan on laying a foundation for growth by proactively carrying out business structure reforms and other business activities. The Group got off to a powerful start: orders received, net sales, operating income, ordinary income, and profit attributable to owners of parent all increased from the previous year, and profits were at a record-high level.
The Group's long-term business framework states specific goals that are to be achieved within the next 10 years. Based on the mid-term business plan for fiscal years 2015 to 2017, we have begun work to achieve these goals by engaging in proactive business activities that will prepare the way for growth by improving profitability. Although the business environment is increasingly challenging, we recognize that we are at a critically important juncture in fiscal year 2016 and will step up our efforts to achieve our goals.
A company is a public entity. Based on this concept, the Group views it as its corporate mission to respond to the trust placed in it by all stakeholders, including shareholders, customers, business partners, members of the local community, and employees, by maintaining sound and sustainable growth. We continually strive to enhance corporate governance in order to increase corporate value over the medium to long term.
Aiming for sound and sustainable growth, we will do our utmost to further expand our business and enhance corporate value, and thereby fulfill the expectations of all our stakeholders. In these endeavors, we request your continued support and understanding.
President and Chief Executive Officer