Since its founding in 1948, ARRK has placed an importance on dialogue with customers while providing a wide range of services as a company supporting new product development in the automotive, home appliance, communications, medical, cosmetics and amusement facility fields, including product planning, design, product design, analytic engineering, prototyping, the design, fabrication and maintenance of dies, and the production and sale of small lot molded products.
With globalization and the increasing maturation of society, the economic environment and social structure that surrounds us are undergoing significant change. In addition to the wave of transformation in the automotive industry known as CASE (connected, autonomous, shared, electric), there are increasing expectations on composite materials such as fiber-reinforced plastics that help boost productivity and safety while reducing weight and costs. At the same time, a manufacturing sector for a new era that includes drones and robots has been rapidly expanding against the backdrop of digitization and the increasing adoption of AI in various aspects of product development. In the midst of all these developments, the markets for automotive development and new product development are forecast to achieve steady growth, while customer needs are also expected to change significantly.
To clarify our future vision as a development support company that deftly adapts to these changes, we recently formulated ARRK CHALLENGE 2019, our company-wide strategy.
Customers have made their needs known — they want to entirely outsource small-lot projects, keep down total costs for limited mass production runs, give shape to the small volume production of new products in areas where they lack expertise, or completely entrust us with everything from product design to mass production with a new concept because they lack the time to spend on development — and we want to respond to those needs seriously. Positioning ourselves as a trusted partner providing comprehensive support to achieve innovation, we will leverage our strengths in packaged solutions and technological development to assist customers with manufacturing, contribute to society and enhance our corporate value in a sustained fashion.
I would like to thank all of our stakeholders for their continued support moving forward.