The 133rd General Meeting of Shareholders – Just One Year

On June 17th, we held our 133rd General Meeting of Shareholders at the Hilton Nagoya (Naka-ku, Nagoya City).

Since the state of emergency was declared due to the new coronavirus infection, we had announced that we would ask our shareholders to refrain from coming to the meeting as much as possible to prevent infection.

As a result, the number of visitors was 39, a 75% decrease from last year's 160.

Since I was appointed as the President and Chief Executive Officer last year, this was my first time to chair the meeting.

For the "Issues to be addressed in the future," which followed the business report, I conveyed my thoughts to the shareholders in my own way, based on the scenario prepared by the secretariat, and with a pleasant sense of tension, mixing in recent topics such as the G7 joint statement.

Explanation to Shareholders

The business environment surrounding our group remains uncertain due to the major changes in the automotive industry such as "CASE", as well as the effects of the U.S.-China trade friction, the spread of the new coronavirus infection, and the shortage of semiconductor supplies.

In addition, I conveyed to our shareholders that, in the midst of calls for active involvement in resolving social issues such as carbon neutrality, we will respond appropriately to these changes and aim to grow into a "Global Excellent Manufacturing Company" that is needed around the world through the development of technologies and products that protect the global environment and provide new value to people's lives.

Question and Answer Session

We received an opinion that "it is unfortunate that we are in the red in FY 2020, but we are looking forward to making up for it in the future.

With regard to the question about our plans to sell our products to emerging electric vehicle (EV) manufacturers, I answered, "We have already delivered our products to some manufacturers through our affiliated companies. We will continue to deepen our relationship with customers who appreciate the value of our products,"

In the future, the method of holding general shareholders meetings will also undergo major changes, such as the spread of virtualization.

It has been a full year since I assumed the position of president, and I strongly feel that it will become more important to "respond flexibly to changes without being bound by the concepts of the past" in this changing era.

Let us continue to take speedy and appropriate actions to make our shareholders become our fans, and walk forward with the strength of the 25,796 employees of the Group (as of March 2021).