First, please allow me to express my gratitude to our shareholders, thank you again for your enduring support.
Now, I would like to explain our basic policy on the management of our corporate Group (Oiles Corporation and our consolidated Group companies).
The management philosophy of our corporate Group is to become a world leader as a general manufacturer of oil-less bearings and serve society through technology. The desire to serve society through technology handed down from our founder, is a universal value of our corporate Group, which we have always sought to embody. Our corporate Group’s portfolio consists of three businesses: bearings, structural devices and architectural devices. A bearing with oil-less characteristics contributes to the reduction of environmental impact. For example, in the automotive industry, where the shift to EVs is underway, the lighter weight and lower friction of oil-less bearings contribute to the long-distance driving of EVs. In addition, structural devices (seismic isolators and vibration dampers) that protect buildings and facilities from large-scale earthquakes play an essential role in providing safety and security in earthquake-prone Japan, as well as in addressing the aging of bridges, which has been an issue in the infrastructure development across the country. Moreover, architectural devices such as our Window Operators protect human lives from the risk of smoke inhalation due to fire and provide safety, security, and comfort to society by supporting building ventilation.
From the perspective that the three businesses of our corporate Group deliver energy savings and contribute to reducing environmental impact in addition to providing safety, security, and comfort for society, our businesses themselves are significant social contributions. They embody our management philosophy to “serve society through technology.”The source of our corporate Group’s value creation is that all our businesses contribute to resolving social issues and creating a sustainable society, which will lead to the sustainable growth of our corporate Group’s value.
This value creation is driven by our relentless pursuit of two core technologies: tribology, which is the science of friction, wear and lubrication, and damping technology for vibration control. The key for our corporate Group as a market-creating company is to develop unique materials with outstanding performance and to provide innovative materials that solve customer problems in innovative ways that enable their products to be the best or the first in the world. Our unrelenting quest to contribute to keep developing the products essential to achieving that and contributing to the ongoing development of society will continue.