Casio 2000 Annual Report Download - page 4

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2
A YEAR OF STRONG PROFIT GROWTH In the fiscal year ended March 31, 2000, Casio
reaped the benefits of decisive measures taken in previous terms to cut costs and raise
efficiency. Our early entry into the market for information appliances began to pay
off as advancements in digital cellular services led to new forms of mobile Internet
access. And the competitive technologies of our electronic components business
supported a sharp rise in profit contributions.
Consolidated net sales fell 9.0% to ¥410,338 million, reflecting the adverse im-
pact of exchange rate movements on overseas sales and streamlined operations in
such low-performance items as word processors, pagers and PHS handsets. However,
profitability rose sharply, with operating income up 55.2% to ¥19,477 million. In
the absence of extraordinary charges recorded in the previous year to restructure
Group operations, we recorded net income of ¥6,173 million.
Management initiatives were focused on creating the rapid response capabilities
needed to prosper amid rapid technological and market change. To improve internal
management capabilities we introduced a corporate officer system in June 1999.
Under the new system, we aim to accelerate decision making and improve strategic
execution. To extend our penetration of world markets and accelerate technological
development of data communications devices, we forged strategic alliances with pre-
mier companies in hardware, software and communications.
STRATEGIC DEVELOPMENT OF M OBILE NETWORK SOLUTIONS The development of
high-speed digital mobile communications services is creating an environment
where everyone has instant access to network data at all times, whether for work or
play. The age of wireless cyberspace is before us, with the potential to unleash full-
scale demand for mobile information appliances, and Casio aims to be the world
leader in this field.
Casio has released a range of portable information terminals since the 1980s. This
substantial experience forms the basis for highly competitive technologies for mobile
appliances, represented by high-density mounting, large-scale integrated (LSI) circuit
design, high-resolution color LCDs and other electronic component technologies.
We have already built the number one position for devices running on the
Windows®CE operating system, and we intend to build on this accomplishment
with a growth strategy centered on CASSIOPEIA®Pocket PCs.
In December 1999, Casio reached an agreement with Siemens Communication
Devices (CD), a division of Siemens Information and Communication Products, to
A MESSAGE FROM THE PRESIDENT