An exciting announcement from the President of Hitachi Koki, Japan:
2017 has ushered an exciting, fresh start for our company. We have committed to accelerate growth alongside a dynamic new partner as we pursue our goal to become a global leader in power tools and life-science instruments. As part of this new chapter, I'm proud to announce that we will change our company name to Koki Holdings in June 2018. And, with great excitement, I'm thrilled to announce that effective October 2018, our current brand "HITACHI" will become a new brand known as "HiKOKI".
Our advance into this new stage of development is, for me, an occasion to reflect upon our prestigious 70-year history. During my tenure, I have grown in my conviction that our company's success rests upon three core pillars: highly innovative technology, high reliability, and strong business growth.
The first of these pillars - highly innovative technology - is the foundation which inspires us in everything we create and deliver for our customers. Our industry-leading technological prowess has been cultivated over the decades thanks to the tireless day-to-day efforts of our predecessors and continues today through all of our current employees. We currently hold over 2,500 patented technologies, many of which have earned prestigious awards around the world. That's why the "Hi" in the "HiKOKI" brand name refers to our "highly innovative technologies."
High reliability is our company's second pillar. Over the past 70 years, we have delivered products which consistently meet the needs of our customers and partners at the point of purchase and over time. We have achieved this by providing globally recognized "Japanese-quality" as well as earnest service, all in pursuit of customer satisfaction and convenience. Our new "HiKOKI" brand name also embodies this commitment to high reliability.
The third pillar supporting our company is strong business growth. We have gained a robust partner in KKR, one of the world's preeminent private equity firms. Partnering with KKR has enabled us to become more aggressive than ever, not only in Japan but also in the global market. We are deepening our organizational and business diversity, as well as expanding our operations through Merger and Aquisition activities. This is all a fundamental driver of our ongoing drive to generate solid growth.
During the 70 years since our establishment in 1948, nine presidents before me have helmed this company. Each of these remarkable leaders have played an important, strategic role in helping us reach our current position. As we embark on this new voyage, and emerge as a global company with its roots in Japan, I am making a heartfelt resolution. I intend to ensure that everyone who works, partners and purchases from Koki Holdings feels fortunate for having done so. I want people to have a deep sense of pride in every interaction with our company - whether as an employee, business partner or end customer. Our employees around the world will welcome change, we will embrace different cultures, and we will all adopt perspectives different from those of the past. And through it all, we will come together as one to bring about future change. This is the promise I am making to myself.
Koki Holdings originated in Japan and has conscientiously pursued the path of manufacturing. Age-old Japanese wisdom has it that to accomplish something important, we must apply heart, technique and physical ability. We will now engage these essential elements of Japan's cultural DNA as we pursue reliability, technology and growth in building a global organization, developing our businesses, and continuing to grow into a truly global company.
Hitachi Koki Co., Ltd.
President & Representative Executive Officer