Now, the entire world is facing the threat of the novel coronavirus. The first thing we must do is take steps to address the damage inflicted by the novel coronavirus. As we prioritize safety measures for our employees, we must also work rapidly to improve the quality of our BCM plans, such as by reviewing our supply chains and restructuring our production sites around the world. As we do so, we remain ever committed to avoiding inconveniences to our customers and ensuring their satisfaction.
T.RAD is a historic company founded in 1936. As a company, we have overcome numerous difficulties in the past to grow into what we are today.
During the time of the Lehman Brothers bankruptcy in 2008, our sales for the following fiscal year dropped by 40%, but we were able to achieve a V-shaped recovery through the all-out efforts of every employee at the company.
In this difficult situation as well, we will take steps such as combining youthful energy with veterans’ knowledge, as well as stepping up the use of IT, to ensure that we overcome the challenges that we face with our full strength. I strongly believe that these measures will become T.RAD expertise and assets and lead to further company growth.
We will also make steady progress towards the ideal of what T.RAD can be (our vision).
As a comprehensive manufacturer of heat exchangers ranging from those for two-wheeled vehicles and automobiles to those for large-scale construction machinery, industrial equipment, and air conditioners, T.RAD aims to be number one in the world. We are also actively engaged in initiatives to address environmental issues.
We strive to be a company that pleases our customers, one who our customers want to work with over anyone else and who makes all of our stakeholders happy.
I humbly ask you for your support as we work towards our goals.
The environment in which our company operates is currently in the midst of an era of significant change.
In the automobile, construction machinery, and agricultural machinery industries, even as we continue to make progress in our application of the CASE (Connected, Automated, Shared, and Electric) approach to technological innovation, the heat exchangers that our customers require are undergoing major changes. Even so, as long as human beings exist and use energy, heat will be generated by any exchange of energy, whether from the burning of fossil fuels or from renewable energy sources, and heat exchangers are required to manage this heat. Throughout the accelerated advances in the electrification of cars in recent years, the types and numbers of heat exchangers required around the world have grown. Furthermore, we also believe that the needs of heat-energy conversion systems based on heat exchangers will grow, as these systems are applied to achieve renewable energy from traditionally wasted heat, as part of initiatives to reduce the volume of CO2 generation in order to realize sustainable societies.
In addition, as the threat of the novel coronavirus currently grows, we are promoting efforts to prevent the spread of infection and to ensure the safety of our employees as we continue our production activities, to review our supply chains and global production systems to achieve sustainable production in light of increased protectionism around the world, and to use IT to reform our business operations.
Throughout this period of profound change, T.RAD is making further efforts to meet the needs of society and its customers by accelerating its implementations of both SLQDC (safety and security, legal compliance, quality improvements, deliveries, and cost reductions) and 5C+2S (Challenge, Change, Cooperation, Co-creation, Connection, Speed, and Sharing), approaches that have been important throughout T.RAD’s history since its founding.
I humbly ask for your continued support and encouragement as we continue our work throughout the year.