Mitsubishi 2004 Annual Report Download - page 19

Download and view the complete annual report

Please find page 19 of the 2004 Mitsubishi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 74

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74

17
will strengthen ties to business partners in the various regions, and with trading companies with whom MMC collabo-
rates. The Company will concentrate its management resources in important areas. The regional strategies below are
based on this approach.
North America
MMC has designated 2004 as a year of recovering from the sales-volume driven strategy of the past. The Company will
restore its marketing to normalcy, extending warranty periods and providing top-quality automobiles to customers. A
complete overhaul of its marketing policy has led to adjustments to the scope of production, and our Illinois Plant will
cut back from a double- to a single-shift operation. North American operations and headquarters are working together
to regain customer trust and to restore the image of the Mitsubishi Motors brand.
Europe
The Company is resolved to achieve the strengthening of its marketing structure in the mature markets of Western Europe
through reorganization and a re-examination of its labor situation. Major growth is forecast for Russia and the Ukraine,
Eastern Europe, and Central Europe, and MMC is moving forward with the development of operations in those markets.
North Asia
It is not an overstatement to suggest that the ability of the Company to implement strategies leading to its revitalization will
prove the key to securing a future in North Asia, and in particular the Chinese automobile industry, a market experiencing
remarkable growth. MMC will work to develop both engine production and vehicle assembly companies while strengthen-
ing ties with China Motor Corp. of Taiwan. At the same time, the Company will adopt a cautious approach to its business,
giving due consideration to the impact of continued tight finance policies by the Chinese government on automobile sales.
ASEAN
MMC will pursue a number of initiatives in the ASEAN region. The Company will reinforce its operations in Thailand
as a platform for renewed export. At the same time, the Company will realign automobile production in the
Philippines, where it will start manufacturing cars specifically developed for and sold in the ASEAN region, bolster
its lineup in Indonesia, a market in which MMC enjoys a high market share, and strengthen the support structure
in Vietnam, where a business platform is steadily taking shape.
Galant Endeavor Colt