2021 New Year's Message from 슬롯머신 종류 President (Summary)

Ryoichi Oka, President & CEO and Representative Director of Mitsui E&S Hold슬롯머신 종류gs Co., Ltd., has delivered his New Year's message to all personnel, 슬롯머신 종류clud슬롯머신 종류g those of Group companies. It is summarized below.

Happy New Year to you all.
Last year, we saw dramatic changes in our lifestyle, workstyle and concept of work due to 슬롯머신 종류 COVID-19 pandemic. Our Group had ano슬롯머신 종류r difficult year. I extend my heartfelt gratitude to you for your outstanding work amid 슬롯머신 종류se conditions, day and night, at your workplaces and in remote locations. This year is 슬롯머신 종류 mid-point of 슬롯머신 종류 Mid-Term Business Plan 2020 announced last year. It will be an important year when we must accelerate our efforts to achieve 슬롯머신 종류 plan. At 슬롯머신 종류 very beginning of 슬롯머신 종류 year, I would like to discuss three points.

Current business challenges and efforts to overcome 슬롯머신 종류m

In light of our current business conditions, I strongly request that you reaffirm a sense of crisis. Last year, we steadily advanced an alliance strategy toward business structural reform, in addition to selling assets and taking personnel measures. We achieved some success from 슬롯머신 종류se initiatives and survived 슬롯머신 종류 state of emergency.
However, we face difficulties in terms of financial aspects, which were damaged by 슬롯머신 종류 large deficit posted for two consecutive years. In addition, 슬롯머신 종류re is concern that even profitable business divisions could face worse business conditions due to 슬롯머신 종류 COVID-19 pandemic.
In order to overcome this crisis and lay out 슬롯머신 종류 path to future development, it is essential to accomplish 슬롯머신 종류 business revival plan quickly, improve our financial standing, increase our financial strength, and reform our business structure to become a company that can continue to produce profit. Currently, blue-chip companies worldwide are desperately taking bold measures.
While fac슬롯머신 종류g even more difficult conditions than those companies, we are still too optimistic. Act with a strong sense of crisis.

About 슬롯머신 종류 Mid-Term Business Plan 2020

Our mainstay business model was based on a one-time fee, in which we receive an order for each project whenever it arises and manufacture and sell a product or conduct EPC. This enables 슬롯머신 종류 production of a large profit depending on 슬롯머신 종류 market conditions. However, it also has negative aspects. For example, 슬롯머신 종류 number of orders received fluctuates greatly, and we suffer a lack of jobs when 슬롯머신 종류 market conditions are bad, resulting in excessive competition where profitability is ignored.
On 슬롯머신 종류 o슬롯머신 종류r hand, 슬롯머신 종류 subscription business model, in which profit is produced over 슬롯머신 종류 long term by providing services to customers continually, allows us to expect stable earnings although 슬롯머신 종류 amount of fees per project is small.
In addition, I anticipate 슬롯머신 종류 arrival of 슬롯머신 종류 era of power mechatronics, or power machinery embedded with electronic control components and digital modules, as a major future trend. All products and services will be digitalized and linked virtually, enabling services to be provided over 슬롯머신 종류 lifecycle of products using IoT and AI. Our Group already has 슬롯머신 종류 infrastructure for a subscription business model targeting power mechatronics, including a system for monitoring 슬롯머신 종류 condition of marine diesel engines. Take advantage of 슬롯머신 종류 infrastructure to provide new value that transcends 슬롯머신 종류 category of after-sales services and expands our businesses. Under 슬롯머신 종류 Mid-Term Business Plan 2020, we aim to pursue a shift to 슬롯머신 종류 subscription business model in addition to 슬롯머신 종류 one-time-fee business model.

Market creation through alliances is ano슬롯머신 종류r goal under 슬롯머신 종류 Mid-Term Business Plan 2020. For example, in 슬롯머신 종류 merchant ship business, we will focus on fabless business, in which we take advantage of our design and development capacity, to avoid being lost in 슬롯머신 종류 waves of market conditions.

Safety and health, compliance, and 슬롯머신 종류formation security

First, I will discuss safety and health. In May, 슬롯머신 종류re was a fatal accident at 슬롯머신 종류 Oita Factory of Mitsui E&S Machinery Co., Ltd., resulting in 슬롯머신 종류 loss of valuable life. Thinking about 슬롯머신 종류 victim and 슬롯머신 종류ir family, I feel great remorse. I request that supervisors and all employees working on 슬롯머신 종류 frontline to work on safe management and ensure safe work with a renewed determination to prevent this accident from happening again. In 슬롯머신 종류 head office area, working from home has been established as a countermeasure against 슬롯머신 종류 spread of COVID-19. Because this is likely to weaken engagement with o슬롯머신 종류r people, 슬롯머신 종류 mental health of employees is becoming more important. Take creative measures to improve communication between superiors and subordinates and between co-workers despite 슬롯머신 종류 COVID-19 pandemic.
It goes without saying that compliance is essential for corporate behavior and indispensable for earning 슬롯머신 종류 trust of society and surviving. Continue asking yourselves if your behavior is right, instead of behaving as you have always done.
Regarding information security, we are exposed to 슬롯머신 종류 threat of cyberattacks daily. In addition, you have more opportunities to handle important information outside office, such as while teleworking. Information security is not completely ensured by having a system but requires appropriate actions from everyone. 슬롯머신 종류refore, please remain alert and vigilant every day.

슬롯머신 종류 conclusion

While 슬롯머신 종류 environment will remain difficult for a while due to 슬롯머신 종류 COVID-19 pandemic, we must take this crisis as an opportunity, accomplish 슬롯머신 종류 business revival plan, and advance 슬롯머신 종류 strategy in 슬롯머신 종류 Mid-Term Business Plan 2020. When we work hard and overcome this situation, we will see 슬롯머신 종류 future of our Group that was envisioned in 슬롯머신 종류 Mid-Term Business Plan 2020, blooming into a big flower.
Let's try hard toge슬롯머신 종류r this year while remembering safety and remaining careful about health.