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Oki Electric Industry Co., Ltd. Annual Report 2001
2
TO OUR SHAREHOLDERS
Management Results
Organizational and structural changes in the financial and
communications industries, as well as global competition
and changes in business models brought on by the informa-
tion technology (IT) revolution, are dramatically transform-
ing Oki Electric’s business environment. In this rapidly
evolving environment, the companies of the Oki Group
smoothly and steadily implemented the “Phoenix 21”
strategy, formulated in 1998, and worked together to
achieve stable profits and fulfill Oki’s vision under the
slogan: “Oki, Network Solutions for a Global Society.”
For the year ended March 31, 2001 (fiscal 2001), Oki’s
consolidated net sales rose 10.5% to ¥740,250 million.
Strong sales of electronic devices, particularly logic and sys-
tem LSIs, and silicon wafer foundries, as well as growth in
information and telecommunications systems, were major
contributors to these results. Operating income more than
doubled from the previous fiscal year, to ¥28,314 million, and
net income grew approximately eight times, to ¥8,944 million,
reflecting firm memory prices and continuous efforts to
reduce costs.
Stimulated by demand for ATMs capable of handling
¥2,000 bills, introduced in Japan in calendar 2000, and
new-model color printers, net sales to third parties in the
information systems segment rose 3.2% to ¥352,418 million.
Telecommunications systems saw growth in sales of CTI
and VoIP, pushing net sales up 11.0%, to ¥163,330 million.
In the electronic devices segment, net sales grew 27.0%, to
¥181,978 million.
For fiscal 2002, ending March 31, 2002, we anticipate
consolidated net sales of ¥780,000 million and consolidated
net income of ¥9,000 million.
Basic Management Policies
In line with the vision summarized in the “Oki, Network
Solutions for a Global Society” slogan, the Oki Group
focuses its basic management policies on ensuring agility
and concentrating resources in businesses that optimize
strengths, thereby enabling continuous expansion despite
stiffening global competition.
The Group’s management style contributes to the devel-
opment of a global network society (e-society) while
emphasizing profit, growth and speed. Increased corporate
Katsumasa Shinozuka
President and
Chief Executive Officer