Nikon 2001 Annual Report Download - page 5

page 3
realization of this system. In addition to the extensive revision of each company’s objectives
and management structures within Japan, similar consolidation efforts proceeded in America
and Europe.
In the United States, the instruments, and ophthalmic frames and sunglasses businesses of
local sales subsidiary Nikon Inc. have been spun off into two new sales companies. Nikon Inc. will
continue to provide sales and service support for our imaging products. On October 1, 2000, the
holding company that controls these subsidiaries and others, Nikon Americas Inc., took on the
additional responsibilities of capital funding, management and operations, as well as the
supervision of consolidated tax compliance in America. In Europe, Nikon Holdings Europe B.V.
started operations on October 1, 2000 to act as a holding company for assets in Europe, to conduct
effective financing, and to provide tax compliance support for Nikon Group companies in that region.
Medium- and long-term strategic plans formulated
While the Nikon Group in-house company system is helping to devolve decision-making power
closer to the market, we simultaneously and thoroughly implement the Nikon Group's medium-
and long-term strategic plans. Our vision statement, Vision Nikon 21, which was unveiled in
March 2000, points the way for the next decade. In October 2000, a decisive list of actions for
the next six years was formulated with the Nikon Group Six-Year Plan in a move towards
realization of this vision. To achieve the growth and profitability targets of these plans, we also
fixed a set of specific numerical targets. These are specified in terms of three-year goals, also
drawn up over this fiscal year.
Introduction of an executive officer system and stock option program
In line with strengthening the Nikon Group’s management and administration system came the
introduction of an executive officer system on June 28, 2001. The initiatives were to increase
speed of decision-making and execution of operational strategies by the Board of Directors, as
well as to ensure consistent management in each company of the Group. It is hoped that this
new structure will further strengthen the division and delegating powers with regard to decision-
making and the execution of operational strategies, while being able to provide the opportunity to
deploy the right personnel into the most suitable positions.
Along with this change, Shoichiro Yoshida leads the new Board of Directors as Chairman of
the Board and CEO. Kenji Enya serves as Vice Chairman of the Board and CFO, while Teruo
Shimamura has been appointed President, Member of the Board and COO.