Konica Minolta 2002 Annual Report Download - page 9

7Konica 2002
BUILDING A NEW KONICA THROUGH STRONG
DETERMINATION AND FLEXIBLE DECISION MAKING
CAPABILITIES
In our fiscal 2001 annual report, I mentioned that the 21st cen-
tury would be an age characterized by drastic change and
intense competition and that the Company would meet the
challenges of change with ambition and courage. Our deter-
mination in this area remains unchanged. If anything, by
implementing our separate companies and holding company
system, the direction that the Company should pursue has
become even clearer. Through tireless determination and
strong management, we will create a new age for Konica. As
the industry undergoes a significant structural transformation,
Konica will build a business model that responds quickly to the
needs of the times and will promote management that empha-
sizes maintaining a sound balance sheet. This will enable
Konica to raise its corporate value and meet the expectations of
its shareholders.
In closing, we ask our shareholders for their continued guid-
ance and support.
Fumio Iwai
President and CEO
July 2002
IMPLEMENTING “KONICA IN VIEW”
To the present, I have steadily implemented policies aimed at
raising the transparency of our management to realize our
disclosure concept of “Konica in View.” This reflects our com-
mitment to becoming a company with highly transparent man-
agement that is open to all stakeholders, including customers,
shareholders, citizens of the local community, business part-
ners, and our own employees.
As I stated previously, until the Konica corporate culture
fully develops, the best course of action is for the holding com-
pany to maintain constant authority over the new business
companies. From this perspective, I am confident that the real-
ization of the “Konica in View” will accelerate the development
of the Konica corporate culture. Employees raised within the
traditional Japanese corporate culture are undoubtedly harbor-
ing trepidations about the separate companies system. Precisely
for this reason, I would like to show all employees Konica’s
current situation and future prospects and call on all employees
to think deeply about “ Konica today, and Konica tomorrow.”
STRENGTHENING OUR CORPORATE GOVERNANCE
While introducing our system for separate companies and a hold-
ing company, we are also strengthening our corporate governance.
In addition to adding two external directors, we are considering the
rapid introduction of a U.S.-type commission system following
revisions to the Japanese Commercial Code.
We have decided to introduce such a system based on the prin-
ciples of shareholder-oriented management. Konica is a company
built by shareholders and we must therefore meet the expectations
of shareholders, who have
entrusted us with the man-
agement and operation of
the Company’s business. Ac-
cordingly, we will emphasize
management that strives to
redistribute profits to share-
holders as well maintain a keen
awareness of the Company’s
share prices with an eye to rais-
ing our corporate value.
(Billions of yen)
INTEREST-BEARING DEBT
247.9
212.4
181.9 176.1 169.0
’99 ’00 ’01 ’02 ’03
(Target)