In March 2018, thanks to your support, our company marked the 100th anniversary of its foundation. We have come this far thanks to the long-term support of our stakeholders, to whom we offer our deepest gratitude. Our company was founded in 1918, with seven employees, as a repair factory for light-bulb manufacturing devices. Now, the Glory Group has about 9,500 employees, subsidiaries in more than 20 nations around the globe, and offers products and solutions to meet the diverse needs of customers in over 100 countries.
Since our foundation, we have continued to strive to achieve the technological innovation and superb manufacturing that society has sought. Along the century-long path that we have traveled, the cornerstone of our current growth was the development of the first domestically produced coin counter, and its provision to the Ministry of Finance's Mint Bureau (now the Japan Mint) in 1950. Since then, we have created many products which were the first of their kind in Japan, such as coin wrappers, coin sorters, cigarette vending machines, and coin-operated lockers with extendable time limits. We have established our standing as a pioneer of cash handling machines.
To arrive at where we are today, we have created various innovations within business fields related to currency, and we have expanded our market, but our roots remain the philosophy that we have maintained since our foundation, of "continuously striving to benefit people by creating products that have never been seen before." We have a long and continuous heritage focused on the development of innovative solutions that improve society. This is enshrined in our corporate philosophy with the words "a striving spirit and cooperative efforts."
In April 2018—with our focus on the next 100 years—we put together the ideal image of Glory 10 years from now and set forth the Long-Term Vision 2028, which states "We enable a confident world." Until now, within the business domain of cash handling, the Glory Group has worked to create an environment in which society can use cash with peace of mind. Going forward, as well as furthering that goal, we plan to enter new fields of business. With the spirit we have inherited from our predecessors of taking on a challenge, and via the application of advanced technology that exceeds the boundaries of cash handling, we will work to create new domains in the four business areas detailed below.
・Various methods of payments: Extend solution portfolio to processing and settlement of electronic payments and digital currencies
・Currency circulation management: Extend capabilities to track and manage cash through its complete life cycle
・Automated society: Contribute to productivity in multi-industry applications of robotics, which can work in harmony with human employees
・Personal identification and authentication: Develop solutions to detect, authenticate, and protect personal identity, enhancing trust and security in society
In order to realize these four new business domains, we will further advance our current core technologies of recognition/identification and mechatronics. We will also work to provide products and solutions that meet customers' needs by fusing new technologies via the promotion of open innovation, and through a flexible approach to changes in the market environment.
As the first step, in April 2018 we began a three-year planning period with the initiation of our 2020 Medium-Term Management Plan. This plan sets aside a period of preparation for the creation of our long-term vision, and pushes forward initiatives aimed at creating new value. It includes the three basic policies of building foundations for realizing sustainable business management, strengthening collaboration with various partners to solve social issues, and realizing higher productivity and robust corporate constitution that directly generate outcome.
The Glory Group conducts management based on our corporate philosophy, and we believe that the actions of each and every employee will lead to the realization of that philosophy. In order to share and permeate that philosophy, we translated into eight languages and distributed to every group employee the Guidelines of Glory handbook, which sets forth principles such as our corporate philosophy, management creed, and corporate action guidelines. Furthermore, in 2014, we signed up to the United Nations Global Compact because its 10 principles in the four areas of human rights, labor, the environment, and anti-corruption share the same values with our corporate action guidelines.
In September 2015, at a United Nations summit, sustainable developments goals (SDGs) were adopted and 17 goals were set. We have linked those goals to our group's strengths so that by implementing our business strategies we are also working to solve social issues.
We will continue to earn the trust of our stakeholders and strive to be a corporate group contributing to the realization of a sustainable society.
President, GLORY LTD.