News Room 2010 (The former Furukawa-Sky)

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New Year Address by the President & CEO (Summary)

January 4, 2010

Welcome to 2010. May this new year bring health, happiness and prosperity to all of you and your families.

In reviewing the events of last year, overall domestic demand for rolled aluminum products dropped to its lowest levels in two decades, as demand continued to contract over the past two years due to the economic recession. Consequently, the Furukawa-Sky Group saw sales volume decline by more than 20% over the previous year, severely impacting the very foundations of management and leaving little room for optimism for future demand.

To break through these harsh conditions, the Group has been implementing various initiatives to raise profit. We have also launched a united Group effort to fundamentally strengthen our corporate constitution over the medium term, including structural reforms of the rolled sheet business and the transformation of Nippon Foil Mfg. Co., Ltd. into a wholly owned subsidiary. On the other hand, we are bolstering our response to the growing global market through a number of measures, including investments in the aluminum rolling business in China. By taking these steps, we are moving full throttle toward our clearly stated goal of recovering and enhancing profitability by reinforcing our domestic and overseas business base.

In view of these circumstances, the slogan for this new year is:
"Strongly advancing toward being a company with a global market presence."

Under this slogan, I ask that you take action on the following points.

1. Maintain safety, the environment and quality as the basis of all operations

Hold fast to the basics and involve everyone in developing a safe workplace.

Actively protect the global environment to reduce our environmental impact.

Establish No. 1 quality.

2. Further enforce our corporate governance functions
Pursue comprehensive risk management through consistent compliance.
3. Maximize customer satisfaction
Anticipate customer demand to gain maximum trust in technological development.
4. Strengthen our cost competitiveness in the global market
Promote innovative cost reductions to emerge as a winner in the global market centered on Asia.