Message from the President
The Japanese economy during this fiscal year was affected by the global recession continued from the previous year, but showed a slow growth of export in the background of the improved economy of the emerging markets including China and made a steady recovery in the second half year owing to the effect of the economic measures. However, the economy remained still weak for its self-sustaining recovery and its general condition was so severe to continuously show a high rate of unemployment.
In these circumstances, JRC Group exerted active marketing efforts and achieved the business performance in the consolidated fiscal year under review as described below.
In our Maritime Electronics business, sales decreased substantially under the lingering global recession which had aggravated the environment of the shipping industry. Sales in the Communications Equipment business also decreased in the trend of holding back consumption in the sluggish market for mobile phone under recession.
Our company recognizes the returns to our shareholders as one of the most important policies and takes the basic policy of keeping stable dividends in the long-term view and depending upon the business results in the fiscal year under review in considering the business performance and strengthened enterprise constitution. Under this basic policy, a dividend per share at the end of this business term will be 3 yen based on the business performance in this fiscal year.
Although the economy will continue to recover in the trend toward increase in export, our future prospect for the operating environment of JRC Group will be unable to clear away the shadow of uncertainty for the time being in the current situation in which there are severe conditions of employment, fears of economic downturn in overseas, impacts of deflation and also risks of sagging the market.
Under these circumstances, JRC Group will make efforts to strengthen its profit-oriented system through all possible business reforms and cost reduction measures, to increase sales through active business development under its business structural reform and to concrete the firm operating basis.
We would appreciate for your continued favor and guidance.
June 2010
Yorihisa Suwa
President
Japan Radio Co., Ltd.