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Victor Company of Japan, Limited
12 Annual Report 2003
12 Annual Report 2003
Victor Company of Japan, Limited
Initiative Three:
Revitalize Our Corporate Culture—In order to bring about a real and
sustained recovery, JVC must fundamentally improve its balance sheets,
and generate strong cash flow to drive forward future growth. Cultivating
a workforce steeped in creativity with the courage to take on new
challenges, as well as a corporate culture that leads to more responsive
management, will be crucial to achieve these objectives. Based on
enhanced communication across all levels of the company and frank
and open discussion, JVC is now working to revitalize its corporate
culture. The results are already showing through, with an organization
where all our people are more closely involved in management and
more committed to customer needs.
As member of the Matsushita Group, JVC’s operations have tradi-
tionally been divided across a number of its parent company’s business
segments. However, following group reorganization in January 2003,
JVC became an independent business segment in its own right. As a
result, our role and responsibilities within the Matsushita Group are
defined more clearly. We believe this is a positive move for both JVC
and its shareholders as it allows us more freedom to operate as a self-
reliant company, guided by our own decision-making criteria. Despite
this greater independence, we will maintain strong links with Matsushita
by sharing technology, logistic networks and procurement resources
and by supplying products to one another. We will also take steps to
further deepen ties with the Matsushita Group.