SWS News Summary of 2008 New Year's Speech to Employees : Sumitomo Wiring Systems, Ltd.

PRESS RELEASE: No.7
January 7, 2008

Sumitomo Wiring Systems, Ltd.

Summary of 2008 New Year's Speech to Employees

Fumikiyo Uchioke, President and CEO

Although we expect continued increases in global orders and production this year as well, there are many issues that our Group needs to address, such as cost reductions, product quality enhancement, and implementation of measures for the rapidly expanding overseas businesses.

For further expansion of the Sumitomo harness business, and in order to work on these issues swiftly and effectively, a new structure was established for our harness business last year, the year that also marked the 90th anniversary of the establishment of our company. We became a 100% subsidiary of Sumitomo Electric Industries, Ltd., and under this new structure we will conduct business with greater responsibility and authority with respect to development, design, and manufacturing.

I. 12Vision
	We have formulated our own 12Vision initiative as our Group's mid-term business plan for fiscal years 2008 to 2012. We need your continued cooperation in achieving the following two numerical goals by the end of fiscal 2012: (1) Consolidated sales of ¥600 billion (2) Global market share of 25%

II. Product Appeal No. 1 Activity

To achieve the goals of our 12Vision initiative, we are launching the Product Appeal No. 1 Activity. This activity will run for the three fiscal years of 2008 to 2010, during which time we will implement efforts to strengthen our product propositions. We intend to improve development capability and aggressively promote activities for strengthening our capability to propose products that will proactively satisfy customer needs and that will be highly appreciated (i.e., activities for increasing product appeal).

III. Group Policies for FY 2008

The three basic policies, Simple (make it simple and easy to understand), Thinking (think deeply), and Communication (discuss thoroughly), will remain the Sumitomo Wiring Systems Group policies this year. Specifically, we ask you to grasp and inform others of facts as you actually see them, in a simple manner, and think about these facts to determine the nature and real causes of any problems. I believe that communication will help create a more open organizational atmosphere and allow us to welcome a wider range of opinions, which in turn will help enhance organizational strength and the strength of the entire Group. We ask that you please follow these policies in attending to your work.

<Contact: Public Relations Section, General Affairs Department

Tel: +81-59-354-6201>

II. Product Appeal No. 1 Activity
	To achieve the goals of our 12Vision initiative, we are launching the Product Appeal No. 1 Activity. This activity will run for the three fiscal years of 2008 to 2010, during which time we will implement efforts to strengthen our product propositions. We intend to improve development capability and aggressively promote activities for strengthening our capability to propose products that will proactively satisfy customer needs and that will be highly appreciated (i.e., activities for increasing product appeal).