SPD Light-Control Business Becomes Part of Hitachi Chemical’s Urgent Sales Growth Projects
I believe our shareholders, licensees, and others interested in the growing SPD-Smart industry will value the recent remarks of our licensee Hitachi Chemical Company’s new president, Mr. Kazuyuki Tanaka. These comments were part of a presentation given to financial analysts by Mr. Tanaka regarding the results of operations for Hitachi Chemical’s most recently completed fiscal year.
Mr. Tanaka’s complete presentation and remarks have been published by Hitachi Chemical and are available on their web site at: http://www.hitachi-chem.co.jp/english/ir/accounts/2008_4q_tn.html.
Mr. Tanaka’s remarks highlight Hitachi Chemical’s desire to establish next-generation core businesses to supplement and replace its existing core businesses. As part of this company-wide initiative, Mr. Tanaka noted:
“Until now, we have launched and fostered new products based on our Key Growth Products approach. However, fiscal 2008 results were 25% below target. In response, we will begin Urgent Sales Growth Projects, which will choose lineups from existing Key Growth Products and Strategic Development Themes, and change management methods to promote the launch of new products and businesses. By delegating considerable authority to the leaders of those projects, we aim to make the projects dynamic and thereby step up the pace of business development.” (Slide 19)
We are pleased to report that SPD light-control film technology is one of two Urgent Sales Growth Projects highlighted in this presentation. As Mr. Tanaka notes: “Another product designated as an Urgent Sales Growth Project is photochromic materials, which realizes films that become transparent or color when power is either on or off. Plans call for rolling out those films for construction materials, automobiles, aircrafts, and other applications.” (Slide 21)
On behalf of our licensees and their customers who are incorporating SPD-Smart technology into their products and projects in the architectural, automotive, aircraft and marine markets, I want to take a moment to thank Tanaka-san and the entire team of dedicated people within Hitachi Chemical who have invested the considerable time, resources, and talent to produce and expand the production capacity of Hitachi Chemical’s high quality SPD film. This film is now used in SPD-Smart products – the world’s best performing light-control technology. Hitachi Chemical is “Working on Wonders.” We agree. When one partners with the right companies and people, anything is possible.
Joseph M. Harary
President and CEO
Research Frontiers Inc.