We are proud to announce the change of our corporate name to TOKYO KEIKI INC., effective October 1, 2008. In line with this announcement I would like to provide some comments and background regarding this decision to restore our company name.
Our company was founded in 1896 as the first "keiki" or instrumentation manufacturer. At that time, the term for "instruments" did not exist in the Japanese vocabulary and the founder of our company, Yoshihira Wada, first coined the term "keiki", which for a long period was a proper noun directly associated with our company. Over time however, the word evolved into a common, generic term for "instruments". Since its founding, there have been several changes in our company's name - to Tokyo Keiki Seisakusho in 1917, to Tokyo Keiki Seizosho in 1948, to Tokyo Keiki Co. Ltd. in 1970, and to TOKIMEC INC. in 1990.
The "TOKYO KEIKI" name however has remained well-known, both inside and outside of our country, and as a brand image, it accurately represents our business and management philosophy. The kanji character transliteration of "Tokyo Keiki" is also easy to remember, especially for those in the fast-growing regions in Asia and imparts a sense of familiarity, we believe. We also feel that the 'TOKYO' portion of the name would be naturally associated with the 'Made in Japan' label and its impression of quality, and would help boost the image we would like to project in our efforts to develop new markets, not only in Japan, but in Asia, Europe and North America.
Reflecting these beliefs and emphasizing the basic creed upon which our company was founded, "contribution to society through product creation and people development", the decision was made in 2008 to restore the TOKYO KEIKI company name.
The current business climate is indeed a challenging one - with the slump in domestic demand as well as weakening foreign demand prompted by slowdowns in the U.S. and other overseas economies, and skyrocketing costs in iron ore, crude oil and other material resources - factors which have heightened the risks and pressures on corporate earnings. Under these circumstance, we intend to seize the occasion of our restoration of the TOKYO KEIKI name as a rallying point for all members of our Group and, as one, shall work toward harnessing our strengths in engendering our distinctive brand of value added and endeavor to establish a cycle of growth based on an enduring competitive edge as well as transform our corporate structure into one which can better withstand the changes in the external environment. As we move forward, we will pursue lasting growth and enhancement of corporate value, which is the primary mission of any business entity, and respond to the expectations and demands of our broad base of stakeholders - our customers, stockholders, employees, and local communities.
In order to accomplish these tasks, we will strengthen our research and development capabilities in providing new products which anticipate the needs and changes in the market and further the development of a market differentiating sales channel and service network with a global perspective which is oriented toward the development of new overseas markets. We shall also promote the strengthening of our production technology and improvement of our manufacturing system which will allow us better flexibility in coping with and responding to changes in the business environment.
Successful continuity of a corporate enterprise is predicated solely upon its people and as such, is its most precious resource. At TOKYO KEIKI, we value the individuality and dynamic enthusiasm of every one our employees, critical aspects which sustain us in our pursuit of further phases of growth.
In the spirit of 'product creation and people development' perpetuated over the century since our company's founding and with our leading edge technology, we shall support the building of a secure, worry-free, and comfortable society. We are committed and devoted to even greater effort and diligence to achieve and maintain a favored status with our customers and associates and we shall look forward to your continued support, guidance and understanding.
1 October 2008