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As always we wish our stock and shareholders continuing prosperity.
We also thank you for your continued patronage and support.
Along with the close of the 45th term (fiscal 2007) at ASTI we now offer our annual report on business activities.
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Representative Director and President
Kempei Onozuka |
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The Japanese economy in ASTI’s 45th period showed a mild yet steady and continual recovery in terms of individual consumer trends and capital investment based on favorable corporate profits. However in the latter half of the year the financial situation grew unpredictable due to a sharp rise in the Japanese yen and higher material costs resulting from a slowdown in the US economy triggered by the subprime loan crisis.
Amidst these changing circumstances, all divisions of the ASTI group adopting
the slogan “Toughen ourselves to pioneer a new future” for the intermediate
fiscal year, started making intensive efforts to achieve all goals scheduled
for each division’s operational planning.
A new FA (factory automation) device project for example was launched using
technology gained from manufacturing sites while simultaneously making
maximum use of in-house production technology to boost production and quality
to higher levels.
Intensive efforts were also made to establish new core technologies focusing
on power electronics technology, and to enhance already existing motor
drive control and battery charging technologies.
Management and factory functions were reorganized and consolidated mostly at the ASTI main offices and plant, while upgrading main office capabilities that are a stabilizing force essential to global management work.
In our overseas operations, in August of last year ASTI commenced full
scale operation of a subsidiary near Hanoi in Vietnam with a comprehensive
production system to further augment the ASTI global business structure
in Japan, China, Vietnam, and India.
In terms of environmental management at ASTI, we instituted an eco-friendly
policy that blocks the inflow of special designated chemical substances
to the production process and restricts the use of chemical compounds that
pose a load on the environment. We also implemented several types of energy-saving
measures at ASTI.
The total sales figure for the current fiscal year was 36,914 million yen (5.7% increase over the first half) and in terms of ordinary profit yielded 1,471 million yen (15.9% decrease compared to the first half) with a current term profit is 719 million yen (19.1% compared to the first half).
The 45th period year-end dividend paid to stockholders was 6.50 yen per
share (DPS) where in view of the current period gains and future outlook,
the regular dividend of 3.5 yen was increased to 5 yen per share, and further
increased by a special dividend of 1.5 yen to allow paying a total of 6.5
yen per share. The annual dividend for the current period including the
midterm dividend therefore totaled 10 yen per 1 share.
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Taking the action slogan “Toughen ourselves to pioneer a new future” as our group’s midterm management plan for the 44th through 46th periods, we adopted 3 new management policies; “Establish a stable and sustainable earnings structure“, “Establish base technologies based on our company strong points” and “Solid management practices based on corporate social responsibility (CSR)“.
The ASTI group will continue to promote business operations based on these 3 management policies in the upcoming 46th period.
(1)Establish a stable and sustainable earnings structure
Along with intensifying and expanding our business share in the automotive
parts fields as a source of earnings, we will review other operations starting
from direct and indirect aspects of productivity to develop further sources
of profit, and speedily reorganize our infrastructure to remain a contender
in global competition.
(2)Establish base technologies based on our company strong points
ASTI intends to expand its operation in the new field of power electronics,
and boost our technical capabilities to develop and provide systems and
products that meet the needs of the times.
(3)Solid management practices based on corporate social responsibility
As part of our corporate social responsibility and recognizing that people
are the backbone of our corporate operations, ASTI is striving to foster
human talent to create individuals who excel both in business and in society.
Though the business environment is likely to become turbulent both overseas and at home in the 46th period due to rising costs of oil and raw materials as well as the slowing economy in the US, here at ASTI we intend to aggressively deal with problems as part of our final midterm planning, to ultimately achieve our final goal of making “ASTI” an established corporate brand name.
In a world where business is increasingly on a global scale, ASTI is working
to build up and intensify all aspects of company operation including technical,
quality evaluation, business, and purchasing at our overseas subsidiaries.
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| As always, we at the ASTI group humbly ask for your continued assistance
and understanding in all our future activities. |
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This is a list of news releases for investors. |
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Highlights of the performance of ASTI Corporation
can be viewed. |
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Report regarding number of stocks
issued, status by owner, etc. can be viewed. |
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