Please allow me to begin by extending my sincere gratitude for your ongoing support of Pigeon.
My name is Norimasa Kitazawa and I took office as President and Chief Executive Officer of Pigeon Corporation as of April 25, 2019.
Established in 1957, the company has continued to advance and grow under its corporate philosophy of “Love” and its credo: “Only love can beget love.”
Through implementing more agile management, I will, going forward, lead the company to have stronger brand power and achieve constant growth in sales with high profitability, while at the same time making it a place where many employees are working with sparks in their eyes. I am committed to continuing taking on challenges together with the employees of the Pigeon Group so that we can disseminate to society something original and novel that helps improve social life of those raising children in diverse communities with different circumstances.
To this end, I would like to ask for your continued support.
Becoming the “Global Number One” baby product manufacturer
In March 2017, we announced our Sixth Medium-Term Business Plan (originally covering the period from February 2017 to January 2020) (“the Plan”) along with the slogan: “Building our dreams into the future—By creating a bridge towards Global Number One manufacturer of baby products.” Under the plan, we have set three basic strategies aimed at enhancing social value and economic value.
For the fiscal year ending December 2019, the final year of the Plan, we will ensure to achieve the targeted net sales of ¥106.2 billion (¥110 billion before a change in the fiscal year-end), operating income of ¥ 20.0 billion, ordinary income of ¥ 20.0 billion, return on equity (ROE) of 22.0% or higher, and return on invested capital (ROIC; calculated by dividing NOPAT by invested capital, with an applicable tax rate of 30.0%) of 20.0% or higher. As well as these targets, we are also committed to building a solid foundation for growth thereafter. As envisioned in the Plan, we will implement strategies from multiple perspectives toward the significant goal of achieving a ¥200 billion mark in sales.
The Pigeon Group continues striving to enhance its corporate value from the perspectives of both social value and economic value.
April 25, 2019
President and CEO