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2017 has ushered an exciting, fresh start for our company. We have committed to accelerate growth alongside a dynamic new partner as we pursue our goal to become a global leader in power tools and life-science instruments. As part of this new chapter, I'm proud to announce that we will change our company name to Koki Holdings in June 2018. And, with great excitement, I'm thrilled to announce that effective October 2018, our current brand which has been familiar with "HITACHI" will become a new brand known as "HiKOKI".
Our advance into this new stage of development is, for me, an occasion to reflect upon our prestigious 70-year history. During my tenure, I have grown in my conviction that our company's success rests upon three core pillars: highly innovative technology, high reliability, and strong business growth.
The first of these pillars - highly innovative technology - is the foundation which inspires us in everything we create and deliver for our customers. Our industry-leading technological prowess has been cultivated over the decades thanks to the tireless day-to-day efforts of our predecessors and continues today through all of our current employees. We currently hold over 2,500 patented technologies, many of which have earned prestigious awards around the world. That's why the "Hi" in the "HiKOKI" brand name refers to our "highly innovative technologies."
High reliability is our company's second pillar. Over the past 70 years, we have delivered products which consistently meet the needs of our customers and partners at the point of purchase and over time. We have achieved this by providing globally recognized "Japanese-quality" as well as earnest service, all in pursuit of customer satisfaction and convenience. Our new "HiKOKI" brand name also embodies this commitment to high reliability.
The third pillar supporting our company is strong business growth. We have gained a robust partner in KKR, one of the world's preeminent private equity firms. Partnering with KKR has enabled us to become more aggressive than ever, not only in Japan but also in the global market. We are deepening our organizational and business diversity, as well as expanding our operations through M&A activities. This is all a fundamental driver of our ongoing drive to generate solid growth.
Specifically, we aim to achieve sales of 300 billion yen in fiscal year 2020. As one of our growth strategies, we will consider M&A involving companies with superior sales, development and procurement capabilities, as well as outstanding production technologies. In Asia, we will expand our lineup of products that fit market needs and strive to reinforce our sales structure. In addition, we aim to build upon our advanced technology development efforts, showcased by our new MULTI VOLT batteries, into a platform for lithium-ion batteries that reaches beyond power tools, proactively cultivating new fields and markets, as a pioneer of new era in cordless tool "Cordless 2.0." In the life science field, we have begun approaching potential customers in new areas beyond those in our accustomed bioscience field. These include potential customers in such materials-based industries as paints, inks, cosmetics, and automotive oil. To generate new corporate value, we will naturally embrace human resource diversity as we work toward organizational and business diversification. In doing so, we will become a more multifaceted, comprehensive power tools manufacturer in end markets around the world.
Koki Holdings originated in Japan and has conscientiously pursued the path of manufacturing. Age-old Japanese wisdom has it that to accomplish something important, we must apply heart, technique and physical ability. We will now engage these essential elements of Japan's cultural DNA as we pursue reliability, technology and growth in building a global organization, developing our businesses, and continuing to grow into a truly global company.
Hitachi Koki Co., Ltd.
President & Representative Executive Officer