Mr. Atsuo Kobayashi
Executive Vice President
Before discussing our operating results for the first quarter of fiscal 2014, I would like to talk about changes to the scope of responsibilities of executive vice presidents. These new responsibilities took effect on June 27, 2013.
As per the slide, two executives, namely Hiroyuki Uemura and myself, will now be responsible for almost all TDK businesses. As before, the passive components business will be the responsibility of Mr. Uemura, while I will be responsible for other businesses.
Let me explain the background to this change. In the passive components business and other businesses for that matter there are issues that are difficult for each business division to solve alone. Furthermore, there are large differences in the operating results among business divisions. In order to address these issues, we decided to strengthen functions across business divisions under the two executive vice president-structure mentioned earlier. This should solve these issues faster. At the same time, we are endeavoring to optimize the reallocation of management resources. Moreover, strengthening cooperation between the executive vice presidents should optimize operations across the company. Let me give you one example. At present, we are working to improve the productivity of high-frequency components by strengthening cooperation between the high-frequency components business and the HDD head business. I was in charge of HDD heads in the past, but since last year I have tackled company-wide issues from a management planning perspective. As a result of the change in executive vice president responsibilities, I am now back in charge of the HDD head business again and will use my past experience to bolster the business base with a sense of urgency.
That concludes my presentation about the change in executive vice president responsibilities.