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Issued on January 7, 2013
Sumitomo Wiring Systems, Ltd.

Summary of New Year speech of 2013 (for employees)

Osamu Inoue, President

When viewing the world economy this year, the risks of economic slowdown will increase globally due to some negative factors, such as further escalation of European debt crisis, the slowdown of the US economy due to the so-called "fiscal cliff" problem, and further deceleration of the growth of emerging nations. In addition to this, for Japanese-affiliated companies, there are concerns about the long-term boycott of Japanese products in Chinese markets. I am convinced that the operations of the SWS Group may be exposed to more stringent, unclear and unstable environments.

In the midst of these unclear economic circumstances, business environments surrounding the SWS Group have reached a major turning point. The SWS Group is required to be capable of responding to any environmental changes flexibly and quickly. I ask you to increase sensitivity to detect any sign of changes, prepare possible options that can be selected depending on the situation, and establish a system where the selected option can be put into action immediately.

In light of the above, I will make three requests this year.

The first request is to promote "Reduction 10" and achieve the target.
To receive orders and expand business activities in the current furious global competition while making profits to lead to further growth, we must increasingly promote cost reduction. We will implement this cost reduction activity, and label it "Reduction 10". I ask each division to review the organization, workflow and personnel assignment from a totally different viewpoint in order to establish a system where cost reduction is constantly attainable.

The second request is to enhance capabilities to respond to environmental changes.
In the current era where the social and economic structure is changing worldwide, the concept of values and market structures are also changing rapidly in various fields. We may be left out of the market unless we can quickly respond to these environmental changes. Therefore, it is important for us to cultivate sensitivity that will enable us to keenly detect any hint of change. For this purpose, I expect that each of you will become more sensitive to any problems when working on your tasks, and become eager to obtain and absorb a wide range of internal and external information.

The third request is to establish a lively, energetic workplace.
The SWS Group is striving for our major goal "Global No. 1". To accomplish this goal, each of you must exercise your abilities to the fullest, and the workplace is the foundation for this. I ask you to create a workplace where you can work pleasantly, cheerfully and lively. The basis of this is communication. Mutual understanding and respect, sharing passion, and heading in the same direction are all impossible without communication. Everyone needs to consciously enhance vertical and horizontal communication and make more effort to establish a lively, energetic workplace.

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