Pioneer 2007 Annual Report Download - page 7

Download and view the complete annual report

Please find page 7 of the 2007 Pioneer 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

Annual Report 2007 6
Progress with Business Restructuring
Since I was appointed president in January 2006, Pioneer has been conducting busi-
ness restructuring measures to improve the group’s entire earnings structure. This has
included divesting non-core operations, terminating development of unprofitable
product models, and integrating plasma display and other audio/video departments.
In fiscal 2007, these measures began producing results. We saw better overall profit-
ability and the integration of departments yielded new value propositions transcend-
ing product categories.
Furthermore, aiming to sharpen the competitive edge of the Pioneer Group’s Car
Electronics and speaker businesses in the marketplace, Pioneer plans to realign these
operations in conjunction with Tohoku Pioneer Corporation. Regarding the latter,
efforts are under way to convert Tohoku Pioneer into a wholly owned subsidiary to
ensure rapid and flexible business realignment.
Pioneer is also taking a broad range of measures to improve its core strengths as
a company through such means as corporate culture and core process reforms.
Significant progress has already been made on resolving process-related issues. Look-
ing ahead, we will accelerate the pace of reforms by focusing on further raising the
motivation of employees involved in implementing those processes.
Pioneer’s Vision
I believe that Pioneer offers truly unique value by creating and delivering outstand-
ing, unprecedented forms of value in a manner that satisfies customers. It is also
crucial that this process steadily generates earnings that help to drive Pioneer’s
future growth.
As I said before, Pioneer will stay true to its group vision: “To become a company
that encourages all its members to work as a team, with everyone customer-focused,
integrating each one’s professionalism in pursuing innovations one after another.”
Doing so is imperative to restoring Pioneer’s defining strength of continuously creat-
ing and providing new forms of value to customers, as we work to establish a stable
management base and improve our earnings structure. Your continued support is
vital to making our vision a reality.
June 28, 2007
Tamihiko Sudo
President and Representative Director