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Let me start by thanking all our stakeholders for their continued support for Itoham.
Since its foundation in 1928, Itoham has followed its company policy of “Service to Society Through Business” by providing meat and processed meat products. As these products are an important source of the animal protein that we need as part of a healthy diet, our business has helped to improve the food lifestyles of people who consume our products. To this end we will continue to uphold the trust that the public places in us as a company that is responsible for food by implementing a comprehensive compliance system to improve our product quality management. At the same time, we remain committed to fulfilling our responsibilities as a member of society through environmental preservation, community-oriented initiatives and food awareness programs.
In recent years our customer’s lifestyles have changed significantly, and their needs are becoming more diverse. We are expecting to see the Japanese market contract in the coming years as the population continues to age and the trend towards a borderless world brings intense competition from Asia, particularly China, for people, goods, money and information. In this environment, we believe that our customers will increasingly be of two types: those who seek added-value in terms of healthy or distinctive products, and those who seek lower prices. We will respond to this trend by providing a wide range of goods that will satisfy our customers, by developing products that accurately grasp the constantly changing needs and preferences of our customers and by leveraging the manufacturing technology and thorough quality control systems that we have cultivated over the years. At the same time, we will continue to manage our costs rigorously so that we can continue serving customers by providing better quality products at reasonable prices.
To meet the challenge of achieving sustained growth as a company, we are undertaking new measures with an eye to the future.
In March 2009 we made a new move to expand our business outside of Japan – we established a joint venture with Ajinomoto Co., (Thailand) Ltd. and Betagro Public Co., Ltd. of Thailand to produce processed meat products, mainly sausage, in Thailand. (Ajinomoto Thailand is a subsidiary of Ajinomoto Co., Inc ., with whom Itoham signed a business alliance agreement in May 2008.) The new Thailand plant started production on January 1, 2010. This new production base will produce and sell products for the Japanese, Thai and Southeast Asia markets.
In January 2009, we entered into a comprehensive business alliance with Mitsubishi Corporation and Yonekyu Corp. We are carrying out specific policies under this three company alliance to bolster our meat business in and outside of Japan and to build an efficient production system for processed foods, thereby creating a competitive business structure.
The world, including Japan, continues to change significantly. At Itoham, we aim to be a company that can bring customers enjoyment and satisfaction throughout these changes. As we work steadily toward our goal of becoming the most trusted manufacturer of processed meat in Asia, I sincerely ask for your continued and even greater support. |
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Mamoru Horio
President
Itoham Foods Inc.
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