Pentax 2011 Annual Report Download - page 45

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Fiscal 2011 Business Overview and Results Outlook for Fiscal 2012
Fiscal 2011 Business Overview and Results
Fiscal 2011 was a year of transformation within the Life Care
business segment. Although there were no major product
launches, numerous changes in the segment’s organization and
commercial execution ensured that operating income
surpassed the prior-year level. The market environment
continued to slowly improve in North America and in Europe,
while in Asia emerging markets such as China and India
achieved particularly brisk growth.
A
gainst this backdrop, we implemented changes in five major
objectives.
(1) Commercial execution
In the fiscal year under review, we identified disparate
issues confronting each operation, clarified common goals for our business as a whole, and
formulated strategies for improving commercial execution in endoscopes accordingly.
Whereas before there was considerable variation in strategy depending on the region or
product, in the year in review we took up a global marketing perspective in accordance with
a mandate to “sell everything, everywhere.%rd Particular effort was put into expanding
sales channels in emerging markets, including South America, China, India, Eastern
Europe and the Middle East.
(2) Clear vision for people and process
The segment’s management team was renewed and changes were made to the
organization to attract the right people and bring out their best. We began building a
process that above all values efficiency, training, opportunity and merit to draw out the best
performance in all employees. In addition, we put in place new teams and leaders charged
with overseeing the Asian including Japanese operation as a whole, in a bid to better
harness the abundant growth opportunities offered by China and India. These changes
were also directed at increasing the market share in Japan.
(3) Product development
A new product development process in the endoscope business is in the process of being
implemented, where the objective is now to combine the best-in-class products expected of
a large company with the nimbleness and clinically relevant innovation of a startup
company. Changes were also made to ensure a more customer-oriented approach to
product development. Implementation of these changes will continue into the next fiscal
year.
(4) Global quality control system
A global system of product assurance and quality control is also in the process of being
established. In the year under review, stringent standards for our endoscopes met with
approval of the FDA in two audits of a routine nature. The goal, however, is to raise those
Medical Flexible Endoscopes