| Although the economic stagnation
of the last few years against the backdrop of the
global financial crisis shows signs of gradual recovery,
we still find ourselves in a difficult situation.
The environments surrounding shipbuilding and the
shipping industry have also fluctuated significantly,
and there are demands to enhance competitiveness
in terms of both cost and quality under intensified
global competition.
Under integrated group management by Tsuneishi
Holdings Corporation, in which eleven Tsuneishi
group companies, centering on the former Tsuneishi
Shipbuilding Co., Ltd., were unified in January
2007, we tackled three major business operations
of "design of vessels," "dispatch
of workers," and "manufacturing."
At the beginning of 2011, Tsuneishi Holdings Corporation
split up its company into five newly-established
companies as well as two existing companies to
increase management efficiency and also strengthen
corporate capacity to earn profits. Accordingly,
on January 4, we made a new start of "Tsuneishi
Engineering Co., Ltd." as a company split
up to take over the business of Tsuneishi Holdings
Corporation Tsuneishi Engineering Company. First off, in-house manufacturing of outfittings
in cooperation with the shipbuilding segment having
a manufacturing function and contribution to field
sales can be named as our challenges. Although
we have just started in-house manufacturing of
hatch covers and accommodation ladders, we aim
to become a business enterprise in charge of the
series of operations from sales, design, procurement,
and production, through to after-sales service
for field sales in the future. In addition, we
are launching activities for design and field
sales, bringing overseas markets into view. Also,
in association with the commencement of mandatory
requirements to install ballast water treatment
equipment aboard newly-built ships (partial mandatory
requirements scheduled in 2015), it is expected
that demand for conversion will grow beginning
in 2013. Taking advantage of these circumstances
as a business opportunity, we will construct a
framework for undertaking retrofit designs for
equipment installation by working together with
Tsuneishi Shipbuilding's Ship Repair Division.
In highly uncertain economic and financial environments,
we will position ourselves so as to leverage our
strengths and advance toward a new stage in order
to emerge from these difficult times as a company
that serves a leadership role in the shipbuilding
industry, aiming at further improvements in ship
technology by deepening cooperation with the spun
off group companies. | 
