Message from the President
The global economy in the current consolidated fiscal year showed a sense of slowing towards the second half of the fiscal year, with concerns over increased trade friction between countries and regions. In Japan, although a moderate recovery trend continued, the economic recession spread as a result of the impact of the unstable global economy.
Under these circumstances, the Yamaichi Electronics Group launched a three-year middle-term business plan (fiscal year ending March 2018 to the fiscal year ending March 2020) and has been working to strengthen our management base and expand earnings. However, the semiconductor business for smartphones, data centers, and in-vehicle devices has slowed since the third quarter.
An unpredictable market environment is expected to continue for the fiscal year ending in March 2020 due to unfavorable factors, including the impact of the U.S. protectionist trade policy on the global economy and the impact of rising geopolitical risks on the global economy. In addition, the impact on the Japanese economy is also expected to be unclear, due to uncertain factors, such as weak exports, slow capital investments, and fluctuations in foreign exchange rates.
Under these circumstances, the Yamaichi Electronics Group launched its three-year middle-term business plan beginning with fiscal year 2017 (fiscal year ending March 2018 to the fiscal year ending March 2020) to continue growing into a corporate group that can provide products and services that satisfy our customers. In achieving this management goal, the Yamaichi Electronics Group will work from the perspective of cooperating globally and creating products that will connect with the future. The Yamaichi Electronics Group will promote its growth strategy and structural reform as a core and grow to become a corporate group that can meet the needs of our customers while improving its financial strength and reinforcing the management foundation for the future development of the group.
Your continued support and patronage is greatly appreciated.
June, 2019
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