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7
「
Mid-Term Business Plan Review
The previous period also marks the conclusion of the Mid-
term Business Plan begun in April 2005. I am happy to report
excellent results from this plan. In concrete terms, we have
introduced our global strategic CV products, the ELF and
FORWARD, to international markets. At the same time, we
have expanded our global business operations through de-
velopment of new markets and raising capital in our affiliates
which has helped to reinforce our overseas sales operations.
The active investment in these future business bases, the
achievement of the goal of a debt-to-equity ratio (DER) multi-
ple of under x1, and the successful elimination of all preferred
stocks, together combined to further strength the financial
structure, resulting in stable earnings and a continued operat-
ing income at the ¥100,000 million level.
New Mid-Term Business Plan
With the new fiscal year, we will embark on a new Mid-
term Business Plan. We aim to further strengthen our busi-
ness presence in new markets which we have already be-
gun as the first stage of globalization in previous Mid-term
Business Plan, and expand sales volume through the intro-
duction of new CV models. We will try harder to increase the
quality and value that builds the competitive strength of our
products, as well as plan to create and implement a business
structure designed for co-existence and co-prosperity with
local markets.
An additional challenge is the second step of globaliza-
tion: production which makes effective use of overseas re-
sources. This is a new vision in which we foresee increasing
competition with the emerging manufacturers of Korea,
China, India and others, with Japan at the center of a glob-
ally coordinated system in which there is greater supply of
parts and resources from local markets.
Finally, all of us at Isuzu take the challenge of living up
to our stakeholders expectations of achieving sustainable
growth very seriously. We deeply appreciate your continued
understanding and support.
Susumu Hosoi
President & Representative Director