Q：What roles do you think you should play as outside directors?
Iki：
The main role of outside directors is to supervise management, but it is equally important to provide advice on business execution. Both Director Uchida and I have experience in business execution at other companies. We would like to contribute to Glory’s management by sharing the knowledge and experience we have gained, not only with the Board of Directors but also in various interactions with employees.
Uchida：
The fundamental role of outside directors is to supervise the execution of management as a monitoring body. Another important role, I believe, is to raise issues that further revitalize the Board of Directors and help the Company achieve its medium- to long-term growth.
Q：Looking back on fiscal 2021, tell us about discussions at Board meetings that left an impression on you.
Iki：
For me, the most memorable issues discussed were the impact of COVID-19, the shortage of parts, and the Group’s response to the emergence of cashless payments.
The spread of COVID-19 and the shortage of parts were problems that the Group could not handle alone, so it was a difficult year for management to navigate. The Board of Directors discussed how to address this uncertain situation and what preparations are necessary, considering both short-term and medium- to long-term perspectives.
When it comes to payment methods, people generally refer to only two categories: cash and cashless. In practice, however, the situation is slightly different. At our company, we believe that business opportunities exist in the areas ‘around cash’ and ‘beyond cash.’ In addition, payment systems also differ by region and country, so it is important to allocate resources and build organizational structures that take these factors into account.
Uchida：
The concept of Glory’s 2023 Medium-Term Management Plan is ‘Core and new businesses powering growth together.’ A material challenge under this concept is to accelerate the development of new businesses. However, we cannot grow such businesses overnight. At Board meetings held in fiscal 2021, we reanalyzed the strengths of our core business, which underpin the foundation the Group has built over the years. After numerous discussions, we now share the view that we need to leverage the synergies of these strengths to advance into new businesses.
I think we are making investments that align well with our overseas business strategy. These include our acquisitions of Acrelec in France and Revolution Retail Systems in the United States.
In Japan, we are also making future-oriented investments, including in our Data Management Platform (DMP) business, and we will closely monitor the progress of these investments.
Q：What are the key factors for Glory to achieve medium- to long-term growth?
Uchida：
To achieve growth in both core and new businesses, we need to reaffirm our key strengths in recognition/identification technologies and use these strengths to develop new customers and uncover potential customer needs. Our challenge is to create new businesses by aligning these strengths with customer needs. Here, marketing and software development capabilities will play a critical role, so we need to further strengthen such capabilities.
Iki：
The most important factor for medium- to long-term growth is the speed of management decision-making. To expedite such decision-making, we need to create a climate in which a sense of urgency is shared by both management and individual employees. I would like to stimulate internal communication to make this happen.
Uchida：
In addition to the speed of decision-making, it is important to create more dynamism in our constant pursuit of innovation. To this end, we should foster a culture in which employees, regardless of national or international frameworks or divisions, can spearhead more active interactions and exchanges of opinions.
Iki：
To achieve this, we need to further increase engagement. In fiscal 2021, we were pleased to have opportunities to engage in discussions with employees who are potential candidates for our next generation of leaders. Taking advantage of these opportunities, I’d like to serve as a catalyst to foster the revitalization of the Group. Flexible and resilient management is also key to adapting to the uncertain times ahead. We cannot grow if we are always apprehensive about risk. I believe it is important to make choices that dare to take risks while minimizing the impact of such risks.
Uchida：
It might be easier to understand risk by comparing it to the sport of soccer. In Japanese soccer, some teams seem to choose only safe passes to keep possession of the ball. With this kind of game management, a team cannot win and its players cannot grow. A more forward-thinking attitude is needed.
Iki：
Indeed, the real appeal of sports lies in the attitude of players who constantly challenge their opponents and move forward while considering the inherent risks. It’s the same in business.
Q：To conclude, what are your expectations for Glory?
Iki：
I feel that Glory is at a major turning point and is undergoing a positive transformation. The driving forces behind this are our overseas business and our new businesses. The entire Group is about to undergo a major change, and I have very high hopes.
Uchida：
I believe that the power of Glory lies in its spirit of tackling things that other companies do not challenge. We achieved success in product development during our early years and business expansion, including overseas, in recent years. This was the result of our spirit of challenge in confronting unknown areas.
I hope that all employees will again take this spirit to heart and actively embrace challenges.
