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Victor Company of Japan, Limited
06 Annual Report 2003
Fostering closer relationships with global partners means we reduce lead times, pare back costs, and enhance quality,
to ultimately offer an even higher level of customer satisfaction. And we take the same approach in retailing too, by
creating mutually beneficial partnerships with retailers.
Leveraging Today’s Technology and Creating Tomorrow’s
JVC’s volume production technology is a vital factor in efficiently combining numerous vendor components into “Only
One” products. Technology is at the heart of our corporate DNA, and our goal is to build a company that draws out this
fundamental strength.
Competition is intensifying in our operating climate at an eye-opening pace, as new players from China and South
Korea gain strength and confidence. I am convinced our proprietary “black box” technology is the key to taking on and
overcoming this new competition. However, at JVC we were too preoccupied with technology as an R&D tool, failing
to place enough importance on the crucial role of technology in transforming components into finished goods, and
finished goods into products that sell. We are therefore redefining technology’s position within our organization, based
on a long-term outlook. Essentially, this will strengthen technology to fulfill three roles: as a generator of cash flow to
support the JVC of today; as the driving force behind the JVC of tomorrow; and as the central supporting element of
JVC’s operations five to ten years into the future. Balancing these three roles and enhancing our technological capa-
bilities will be crucial for management going forward.
Moving Closer to Our Ultimate Goal With Our Three Key Initiatives
In January 2003 we announced a new brand statement—The Perfect Experience. This statement represents our
undertaking to do all we can to enhance our technologies, products and services so customers enjoy truly moving
experiences through music and images. Essential to realizing this ambitious task are three initiatives examined in
more detail on the following pages: to reengineer our business structure, change our product lineup, and revitalize our
corporate culture. With every single employee pulling as one, this will enable us to fulfill our commitment to offer
customers The Perfect Experience by transforming JVC into a high-performance global company.
I believe companies can achieve success no matter what stage of growth they reach. Based on the considerable
progress we demonstrated in the past year, I am confident JVC will reap the rewards of all its efforts to date. Your
continuing support will be a vital element of this process.
July 2003
Masahiko Terada
President