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Mitsubishi Electric announced 2019 strategies

Jan 17. 2019
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By The Nation

Mitsubishi Electric Kang Yong Watana announced its business plan for 2019, in a press release issued on Thursday.

The company said it aims to enhance “The Cooling Master” and lead in the cooling electrical appliances market with the launch of new “inverter” air conditioner models. 

The new GR Series model features premium innovation while the “Happy Inverter” model offers value for money, the company said.

The company said it plans to achieve sustainable growth and will continue to boost brand awareness with the new TV commercials and appointment of Pope-Thanavat Vatthanapooti as Mitsubishi Electric’s Partner/Presenter for the 5th consecutive year. The company projected sales growth over 10 per cent, or more than Bt15.5 billion in the fiscal year of 2019.

During the announcement of the company’s business operation plan, Yasushi Moriyama, managing director of Mitsubishi Electric Kang Yong Watana, said that the company will continue to emphasise on growing household electrical appliances and air-conditioner businesses.

"Thailand is considered as our Asian hub with continuous growth potential. For the fiscal year 2019, we are ready to drive quality and sustainable growth of our organisation, society and environment under United Nations’ SDGs or Sustainable Development Goals. This is regarded as an important move to make changes towards sustainable goals started from equality and sustainability within the company from our employees to Thai consumers," he said.

"We will also create value for economy, society and environment together with the development of innovation and products with Mitsubishi Electric unique identity i.e. to offer products with quality, safety, energy saving and environmental friendliness.

“Mitsubishi Electric Corporation Japan will celebrate its 100th anniversary of operation in 2020. We are always committed to operating our business with social responsibility to enhance the quality of life so as to achieve our sustainable development growth with aims to successfully grow our business to reach the sales over 5 trillion Yens in the fiscal year 2020," Moriyama said.

"For Thailand's economy in 2018, GDP increased to 4.2 per cent from the government policy to support the investment in the mega infrastructure projects and the public consumption factor which resulted in a positive growth in the overall economy. 

“Due to the cold summer and lot of rains, the overall air-conditioner industries demand was for the first half 80 per cent compared to the previous year. It looks like in the second year the demand was recovered but as total it remains 100 per cent growth in 2018 compared to 2017. However, we expect to achieve our performance target of Bt14 billion at the end of our fiscal year 2018 on March 31, 2019. 

“The competition in the home appliances market continues to be vigorous. Therefore, we will broaden our reach to cover the wider group of target consumers with the launch of better quality “inverter” air-conditioner models so as to retain our market share and No.1 leadership in air-conditioner for home use segment and No. 1 trusted brand voted by the consumers in Thailand as well as cater to the consumers’ requirement and create sustainable happiness for the Thai society. We expect that in 2019, the economy will be better, so, we project our overall sales to grow over 10 per cent higher than the last fiscal year," said Moriyama.

“Moreover, for the CSR activities, the company will continue to attach the importance on environmental conservation. We will continue to support “Slow Life Cycling Amazing Thailand Go Local” to promote eco-tourism and local culture in five districts five provinces in cooperation with Thailand Tourism Authority (TAT) in order to boost sustainable community development in various dimensions including environmental conservation promotion and upgrading the quality of life of the Thai people in line with SDGs,” he said.

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