The automotive industry is now in the midst of major changes said to come only once every 100 years. Safety consciousness is continuing to grow along with demands for solutions to further energy conservation and emissions regulations due to growing concern for the global environment and soaring oil prices.
In automobiles, as a developer and manufacturer of management systems for all sources of energy, we at Keihin have been amongst the first to venture into products which are ready for alternative fuels such as CNG (compressed natural gas) and bio-ethanol and future key devices used for driving systems that will replace internal combustion engine in hybrid vehicles, electric vehicles, and fuel cell vehicles. In motorcycles, too, we have made good use of our world-beating carburetor technology to lead the world in readiness for electronic fuel injection systems.
We are also moving ahead with efforts to address safety by developing technology to increase safety through electronic control, starting with air bags. We are increasingly focusing on air conditioning systems, too, a product that can offer stable growth regardless of any changes in the power source for cars.
Amidst these major changes, we will continue to evolve into a business that predicts future needs and is able to speedily offer systems that meet customer requirements.
Naturally, it is the efforts of each individual employee that underpin this evolution. Our approximately 21,000 employees working around the world all have confidence in our boast that our products change the world, and continue to meet the challenge of creating cutting-edge products based on the concepts of "respect for the individual" and "the five happinesses," part of the Keihin philosophy.
Tsuneo Tanai, President & CEO