News Release

2009.1.1New Year’s Thoughts

A happy new year to one and all!

Last year, the global financial crisis, the so-called “once-in-a-century magnitude”, broke out in the United States and spread all over the world in no time. This year, it is considered that the situation will become more serious. Contrary to the automotive and consumer electronics industry, it seems that the food industry will not have a significant impact on the business.

Although it has passed its peak, there is no sign of an easing of raw material prices. This is where food industries should pour our wisdom how we provide new values thorough products to the consumers. We, too, will continue to devise creative measures to deliver useful raw materials and propositions to customers and consumers.

A lot of things happened about food security and safety last year. We have responsibility to pay close attention to food materials imported from overseas. Safety, quality, and the environment are considered as the top priorities of our management. We will continue to hold the belief of it this year, too.

However, the impact of the strong yen has possibility to present opportunities for business expansion. In this situation that foreign capital is working hard to protect themselves, there will be more opportunities for M&A and foreign investment by domestic companies that have a strong financial base. Under the circumstance where domestic market is shrinking, overseas expansion is one of the most basic solutions. Above all, when food companies expand their business overseas, it would be a great strength to establish a stable structure ensuring food safety and security.

We have formulated our Mid-term Management Plan in 2008, and this is the second year of it. Now, there is steady progress towards the achievement. Although our policy, “Innovation and execution” will not be changed, we will place our value on speed as well from this year. By accelerating “decision-making processes” and “the implementation process”, we aim to create “speedy innovation” that can correspond to changes in business environment.

We thank you for your continued support and encouragement in this New Year.

2009.1.1
Fuji Oil Co., Ltd.
President and CEO
Yoshitaka Ebihara

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