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A Look Back at Fiscal 2009
During fiscal 2009, ended March 31, 2010, the Brother Group faced a challenging operating
environment aggravated by consumers’ staunch intention to save and a stronger yen, despite
signs of recovery in the second half of the fiscal year spurred by economic stimulus measures in
various countries.
Given these conditions, as well as the negative effect of exchange rates owing to the stronger
yen and the influence of the economic recession, Brother Group net sales declined 7.5%, to
¥446,269 million, in fiscal 2009. However, groupwide initiatives to improve profitability through
cost reductions and other measures resulted in operating income of ¥26,637 million, up 33.8%,
and net income of ¥19,629 million, up 28.6% over the previous year.
Fiscal 2010 Strategy
Aiming for further growth, the Brother Group formulated a mid- to long-term corporate
vision—Global Vision 21—in which we define three objectives for the Group.
From the autumn of 2008, the economic environment surrounding the Brother Group has
changed significantly as a result of the global recession sparked by financial crisis. Since then,
despite signs of economic recovery, the economic environment remains opaque. In fiscal 2010,
we will continue to execute the strategies formulated last year to ensure profits and liquidity.
When economic conditions become more favorable, we can smoothly transition back to a
growth trajectory, strengthening our global management infrastructure and implementing
effective measures for our future growth through careful examination of R&D investments,
alliance and M&A opportunities to achieve the objectives defined in Global Vision 21.
Representative Director &
President
Toshikazu Koike
Global
Vision 21
1.
2.
3.
M essage from the Management
3Brother Annual Report 2010