Message from the President

Forward as a business group based on growing together with society

Since our founding in 1995, we have developed our business based on our corporate philosophy: "endeavoring continuously to improve our intellectual ability and be responsive to market demands by creating highly valuable products, working to contribute to the maintenance of our global environment as well as the prosperity of our society, and enabling each and everyone involved in our business to prosper".

On March 22nd, 2018 our company was upgraded to division 1 of the Tokyo Stock Exchange. As the only dedicated analog power source IC manufacturer in Japan, we have since our inception developed products that emphasize miniaturization and low quiescent current. And we are proud of the contributions we have made to the development of electronic devices.

From here out we will continue to press forward as a part of the corporate group with management based on quality of character. At the same time, we will maintain high quality and reliability in the on-board, industrial and medical equipment markets which our company focuses on, as well as the IoT device market which is expected to expand in the future. And we are working to expand our lineup with products that offer even lower quiescent current, miniaturization and noise-reduction. We believe that realizing these objectives will result in increased worldwide market share for our company. And as our low quiescent current products are utilized in more electronic devices, they will also contribute to preserving our global environment.

In April 2016 we acquired our wafer supplier PHENITEC SEMICONDUCTOR Corp. as a subsidiary. On October 2018, PHENITEC SEMICONDUCTOR Corp. celebrates its 50th anniversary as the only foundry service in Japan. They began producing diodes in 1976 and have maintained stable production of discrete products (including power products) for more than 40 years. One of PHENITEC's distinct features is that in addition to manufacturing products according to customer demands, they have actively developed a business (ODM) that supplies customers with PHENITEC products which have been developed in-house (original products). By pursuing this unique style of business over the long-term, they are able to develop high-quality low-cost products and provide customers with high-quality foundry solutions.

In order to press forward with even greater business expansion, our group has formulated a mid-term management plan that starts in 2018 and continues for 3 years.

TOREX and PHENITEC will follow up on our individual strengths, and look to uncover and strengthen added value to magnify the presence of both companies in world-wide markets. We will also exploit synergies that will accelerate further growth to enhance profitability and competitiveness.

Proceeding with our mid-term management plan will strengthen our management foundation, increase the TOREX group's overall strength, and promote further growth strategies based on changes in the marketplace that further expand our corporate value. And in order to strengthen CSR initiatives as mentioned in the mid-term management plan, we will aim to create ultra low quiescent current, ultra miniaturized power supply ICs, develop human resources to support growth and promote thorough compliance so that our corporate group can continue to grow in step with all stakeholders.

Koji Shibamiya

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