Q2 2023 Terumo Corp Earnings Call Transcript
Good evening, everybody. This is Terumo's CEO, Shinjiro Sato. Today, I want to give a management perspective on the production and operation strategy that will support achievement of GS26. Since it is the key to realizing sustainable growth, I hope you will keep it in mind in understanding Terumo.
Let's take a quick look at Terumo history. Terumo production strategy has evolved along with the times. Terumo first grew as a Japanese manufacturer with production centered in Japan. The basis for producing blood and hospital products for Fujinomiya and Kofu with cardiac and vascular products in Ashitaka. Through the '70s and '80s, we experienced some failures to build factories overseas. With the lessons learned from that, Terumo production strategy thereafter became very oriented toward mitigating risk.
From the '90s onward, we transferred labor-intensive production lines to China and other countries in Asia. The Hangzhou factory is one example, as are the Vietnam factories and the Philippines factory. The next big turning
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