To Our Shareholders and Investors
I would like to express sincere appreciation to all of our shareholders and investors for their continued support.
In fiscal year ending March 2009, the present global recession influenced Hirata cruelly, including material prices by rising
crude oil prices in the first half year, and the financial crisis in the last half year, which began with Lehman Brothers and
expanded to the globe as the greatest world depression of the century. As a result of this, orders in each business field,
especially automotive segment, significantly decreased and its business situation became extremely severe. Under this situation,
consolidated net sales increased 5.2%, to 49.7billion yen, and achieved the highest net sales for the Hirata Group. However,
Hirata posted operating losses of 2.3billion yen due to increasing of test model expenditure for new orders, high-cost outsourced
production and services by the increase and concentration of output, cost of materials by surging crude oil prices, which was not
able to meet the expectations of all our shareholders and investors.
As for dividends, due to significant deterioration of business performance, deficit for fiscal 2008, and fears that this severe
management environment will be continued, it is very regretful to inform that Hirata plans to pay reduced dividends from 15 yen
(compared with the previous year) to 10 yen per share.
Despite a part of the global economy shows a sign of recovering, it is expected that business environment over manufacturing
industry will be continuously challenging in this short term.
We will implement lower break-even sales volume, as emergency measures, in order to ensure profit even in a hostile environment
by the review of business structure and the consolidation of corporate structure, the reduction in labor cost, the total review
of expense. In addition to above, we will actively work on the review of product development system and focus on improving
product development efficiency and shorting lead time.
In this challenging situation, however, Hirata formulated the Medium-Term Business Plan "Next Plan" running from FY2009 through
FY2011 in anticipation of following a full economy recovery. In this Next Plan, we will continue to take advantage of a unique,
order-driven business model, and also in order to reduce risks of performance fluctuation, create a competitive business model
driven by selling unique, bulk-manufactured products adapted to global market needs. Moreover, we will be planning and developing
products designed to capture high market shares; providing reliable quality assurance, maintenance and service organization;
making on maximum use of its overseas network; persistently developing peerless core technologies and striving to craftsmanship
that improves productivity across the board.
Such as solar cell manufacturing equipment market that Hirata announced on entry into in previous fiscal term, we will make
positive effort to promote environment related manufacturing equipment.
Hirata will disclose information that may need for making investment decisions appropriately and timely, accept with sincerity
opinions of shareholders and investors, and strive to improve long-term corporate value. I look forward to the continued
support of our stakeholders.
Disclosure Policy
1. Disclosure Standard
At Hirata Corporation, in conformity with the laws related to the Financial Instruments and Exchange Act and the Rules on Timely Disclosure of Corporate Information set forth by the JASDAQ Securities Exchange (hereinafter referred to as "Rules on Timely Disclosure"), discloses not only material information in a timely but also other material corporate information positively in order to maintain a sound investment environment.
2. Disclosure Method
Any information that falls under the Rules on Timely Disclosure is disclosed with TD net provided by the JASDAQ Securities Exchange, and also such information is placed on the Company's website as soon as possible. Furthermore, Hirata will make every effort to accurately and fairy disclose to shareholders and investors information that is not covered by the Rules on Timely Disclosure.
3. Quiet Period
In order to prevent leakage of earnings information and maintain impartiality, Hirata fixed a "Quiet Period" for one month before earnings results are announced. During this period, Hirata refrains from answering questions or making comments regarding earnings. However, if it becomes likely that results will vary greatly from forecasts during Quiet Period, appropriate announcement will be made in accordance with disclosure regulations.
4. Disclaimer
IR information placed on this website is not built for the purpose of soliciting to buy or sell shares of the Company. Also, information geared toward stockholders and investors is intend for the purpose of offering our finance and management, however, the Company offers no grantees regarding the contents. Decisions relating to investment including decisions on whether to buy or sell shares in the Company should be made by investors' own judgments after careful examination of the Financial Statements and other financial documents of the Company. Hirata assumes no responsibility whatsoever for any damages or losses resulting from inaccuracies in the information on this website.
