Citizen Holdings, headquartere

Citizen Holdings, headquartered in Nishitokyo, Japan, manufactures Cincom precision lathe machine tools as well as Citizen and Bulova watches. The company has five segments—watches and clocks, machine tools, devices and components, electronic products, and other products. The financial results for the first quarter of the fiscal year ending March 31, 2016, saw the watches and clocks segment increase profits, with net sales of ¥43.0 billion (up 13.3 percent year-on-year) and operating income of ¥4.5 billion (up 101.3 percent year-on-year). The machine tools segment achieved higher sales but lower profits, with net sales of ¥12.2 billion (up 5.4 percent year-on-year) and operating income of ¥1.2 billion (down 12.5 percent year-on-year). The devices and components segment saw net sales of ¥19.8 billion (up 18.9 percent year-on-year) and operating income of ¥1.7 billion (up 3.1 percent year-on-year). However, the electronic products segment fell in both sales and profit, with net sales of ¥5.7 billion (down 11.3 percent year-on-year) and operating income of ¥0.0 billion (down 99.9 percent year-on-year), and the other product segment, as a whole, recorded lower sales but higher profits, with net sales of ¥2.7 billion and operating loss of ¥0.1 billion. For the three months ended June 30, 2015, Citizen’s sales amounted to ¥83,690 million, a 10.2 percent increase from the previous year. The company’s operating income for the three months ending June 30, 2015 was ¥6,350 million, which was a 39 percent increase from the previous year. For now Citizen Holdings Company is ticking along very nicely.

Questions

 1. Visit the corporate index on Citizen’s global website. This provides Citizen’s corporate profile. Check whether a vision/mission statement is given. If yes, evaluate that statement in light of the content provided in the chapter. If no vision or mission is found, write an excellent vision and mission statement for the bank.

 2. On the About Us section of the company’s website, go to the message section. It appears that the CEO of Citizen Holdings, Toshio Tokura, has a vision for the company. It is “Aiming to be a ‘Solid Global Company’.” Is that slogan useful as a vision statement? Explain.

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