News Release
January 8, 2024
President Kenichi Urushibata

Summary of New Year speech of 2024 (for employees)
Happy New Year!
I wish all the group employees had a good New Year. I’m very pleased that we entered the newyear, and I can deliver my New Year message to you all. I would like to take this opportunity to
express my gratitude again for your hard work and continuous efforts last year to continue ourbusiness.
On the first workday of 2024, I would like to share the medium- and long-term basic management
philosophy with you, because the fiscal year 2024 is the first year of 30Vision and the First MediumTerm Management Plan (25M).
The impacts of the movement restrictions due to the COVID-19 pandemic that had lasted since2019 finally ceased. Though they had a significant impact on our values and work styles, exchangesof global human resources and technologies are finally being resumed little by little.
As the parts supply shortage is being resolved, global auto sales are on track for a gradual recovery.
In response to that, as for corporate performance, we achieved the planned target in FY 2023, andour performance is on track for recovery.
On the other hand, however, as Japanese cars are becoming increasingly unpopular in China
because of the new Chinese EV OEMs entering the market, coupled with the EV sales promotion
policy implemented by the government, we need to come up with some measures to respond to thissituation, as it is said that it will diversify mobility and fundamentally change manufacturing, we need to keep
pace with this transformation.
In such a situation, as an increasing number of top executives of not only Japanese clients but also
foreign clients visit us to see the latest developments in R&D, I feel that our clients have highexpectations of us as a company with the largest share of the harness market.
As we play a major role in society as a corporate group with 250,000 employees working in 109
companies in 33 countries and regions, we must meet the needs of the local community and growsustainably.
As we are living in an age of uncertainty, I would like to rediscover our strengths and possibilities
with all of you and take on further challenges based on them while sticking to the philosophy andcore technologies we have developed. To this end, we develop the new “Management Philosophy”
that will serve as the foundation for 30V and 25M.
Today I would like to talk about the “Purpose,” the most important element in the management
philosophy, which represents the “raison d’etre” of the SWS Group.
The newly set “raison d’etre/purpose” of the SWS Group is “Deepen the harness technology andcontinue to be the indispensable partner of the mobility society.”
I would like to talk about the three key messages included in the Purpose.

Contact regarding this issue：Public Relations Section, General Affairs Department
TEL：059-354-6201 FAX：059-354-6318 Email：sws.sm.public-relations@sws.com

(1) Deepen the harness technology
The first one is “Deepen the harness technology.” As a manufacturing company, we are expected
to face the technological transformations around the world and the expectations of society and clients,
exceed them, pursue our goals, and grow utilizing the technologies we have accumulated related towire harnesses, electric wires, connectors, and electronics. To this end, we must enable the exchangeof human recourses across organizational boundaries to combine technologies and knowledge on aglobal scale.
(2) Contribute to the mobility society as a whole
The second one is that we “contribute to the mobility society as a whole.” Since mobility itself isdiversifying and changing, we can contribute to a wider range of groups, from automakers that are
our clients to all stakeholders, including car users and suppliers, and the entire society surrounding
them. We should provide our products to the mobility society with confidence and pride.
(3) Continue to be an indispensable partner
The third one is what I have been telling you: “Continue to be an indispensable partner.” We should
contribute to the realization of a sustainable society that is pleasant and safe by supporting thedevelopment of mobility as a partner. By doing so, I hope we can become a partner that is highly
trusted, counted on, and relied on by society and clients.
These are the three key messages included in the Purpose. As I said earlier, we are facing
significant changes. We are expected to create new value while utilizing our experience. We may
sometimes have trouble making decisions. Even in such a situation, I would like the 250,000 group
employees to look in the same direction and work together in hope with a focus on the “raisond’etre/purpose.”
I would like to ask you to continue your efforts on “health, safety, quality, and compliance” thisyear. All of them are the essential parts of the company as a manufacturer, and we cannot growsustainably without any of them. I would like all of you to recognize their importance at thebeginning of the new year and make sure that the rules related to them are followed in yourworkplace.
These are the things I would like to share with you for this year. Though the difficult situation
will continue into the new year, we should see it as an opportunity for significant growth for the next
100 years. Let’s work together cheerfully and energetically.
I would like to conclude my New Year’s message by wishing for the health and happiness of all of
you and your families for this year.
EndContact regarding this issue：Public Relations Section, General Affairs Department
TEL：059-354-6201 FAX：059-354-6318 Email：sws.sm.public-relations@sws.com