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Message from Chief Executive Officer Message from Chief Executive Officer Our focus shall remain on building a global Goodrich brand to ensure continuity for a better future. MR CHAN CHONG BENG CHIEF EXECUTIVE OFFICER Since 1983, we at Goodrich Global have committed ourselves to delivering interior decorating services of the highest standards to our clients. Today, as one of Singapore’s leading and largest interior furnishings company, we take pride in upholding a long tradition of excellence. One of our greatest strengths is our extensive collections of wallcoverings, fabrics, carpets, and flooring, sourced worldwide to cater to a multitude of interior themes and personal expressions. We have an unrivalled team of market leading specialists handling design, application and customer satisfaction. This has enabled us to handle complex and cutting-edge projects, provide innovative solutions, and establish ourselves as leaders and trailblazers in the field of interior design. The world changes quickly, so we are market responsive. As Goodrich Global’s customers, suppliers and employees become more and more diverse, our success increasingly depends on the understanding of communities which we work in, and reaching out to people from all walks of life. That is why for many years we have developed and supported initiatives through our Corporate Social Responsibility efforts, working with local government bodies and social welfare organizations to help enrich the lives in our community in simple everyday ways. I have the utmost faith in our employees, brand systems and our ideas. We are building on a 37-year record of service excellence and we are building for the future - finding solutions to tough problems, investing in initiatives and developing programs which improve our team. Goodrich Global has the capability and presence to take on challenges faced in the interior furnishing industry. Furthermore, with our growing regional network and our close collaboration with strategic partners, our customers can expect an integrated and seamless service. We are grateful for the support which our clients have given us over the years. Our loyal base of customers and consistent rankings as one of the top interior furnishings specialist in Singapore and South-east Asia are a testimony of the confidence that our customers have placed in us. With 37 years under our belt and more to go, I have confidence in the future of Goodrich Global. We look forward to serving you and upholding our commitment to always keep you, our customers, at the forefront of all that we do. Message from Chief Operating Officer We cannot achieve our goals or meet the needs of our customers without excellent people in the firm. MR YASUSHI FURUKAWA CHIEF OPERATING OFFICER Under the common business of interior design, both Goodrich Global Holdings and Sangetsu Corporation share a similar business model which allow the companies to have a mutually beneficial relationship in the last two decades. As partners today, we’re excited to venture forward with our strategies for achieving solid growth and explore new horizons as a comprehensive interior design brand. We cannot achieve our goals or meet the needs of our customers without excellent people in the firm. To achieve growth from within, we launched the Mid-Term Business Plan (2017-2019) “PLG 2019” initiative based on the core concept of “PLG: Personal, Local, Global.” The business plan aims to build a corporate group with a solid market position in Asia and the global platform by offering diverse products and expertise. Without our own production facilities, the people element is important in the business structure. The plan’s acronym begins with “Personal” where each individual’s abilities in terms of personal knowledge, capabilities, personality, passion and approach, will significantly impact our business. Demonstrating the skills set of a staff will help to create a “Local” sales network and strengthen distribution capabilities. With each team player leveraging on his strengths in developing the business, the ripple effect leads to a powerful synergy in the entire group when we forge relationships with business partners, architects and interior designers in the pursuit of product procurement on the “Global” market. A strong market presence and solid product strategies are essential. We are fortunate to leverage on Goodrich regional network and expertise in the healthcare, education, retail and hospitality markets; which have great growth potentials and is an important part of our strategies in the near future. On products diversification, we’re excited to present the revolutionary REATEC, Glass Film, SP and XSELECT wallcovering to penetrate the developers market. As premium wallcovering options, the products are poised to be a mainstay in the residential and commercial interior spaces. In the pipeline are plans to expand the product categories in wallcovering, fabric, flooring and carpet. To remain relevant to society and ensure consistent growth, we must listen to our diverse group of customers, suppliers, employees and increasingly contribute to resolving issues that society faces. It is also essential that we recognize the importance of environmental, social and governance aspects to ensure sustainable growth of the corporate sector. Looking ahead, we are entering an era in which conventional wisdom will be increasingly challenged and the interior design industry will change considerably. No matter what the future holds, we must expand our focus with an eye on helping solve social and environmental issues to continue to be relevant to society. By leveraging our strengths and transforming ourselves from within, we will continue to take on new challenges to seek growth. Some initiatives may not bear fruit in the short term, but I am personally committed to ensuring their contribution to our success over the longer term. 01 About Sangetsu AT SANGETSU CORPORATION, WE PROVIDE THE JOY OF DESIGN TO THOSE WHO CREATE NEW SPACES As of 21 December 2017, Sangetsu Corporation has acquired is the leader in the same industry in Japan and is presently 70% of Goodrich Global Holdings Pte Ltd. Mr. Chan Chong pursuing rapid expansion globally through acquisition Beng, the Founder for Goodrich Global Holdings Pte Ltd strategic partnership. remains as a 30% shareholder and CEO. The working relationship between Sangetsu Corporation Both companies are giants in wallcoverings, flooring and Goodrich Global Holdings goes back more than 20 years. materials and fabric industries in their own respective Over those years, Sangetsu Corporation has proven to be a countries. Goodrich Global is a recognized and respected stable and potential long term partner. Sangetsu Corporation market leader having its forte in delivering interior and views this acquisition as an excellent opportunity to pursue architectural solutions with its range of wallcoverings, its global business expansion and entrench itself firmly in the flooring materials and fabrics in Asia. Sangetsu Corporation distribution network in Asia. Chubu Logistics Center (Inazawa City, Aichi Prefecture Sangetsu Showroom, Okinawa about sangetsu corporation Sangetsu Corporation (Sangetsu) was originally founded in day-to-day management of the company and Shosuke Yasuda, Japan around 1849 during the Edo Era, when the Shogunate succeeded as the CEO of Sangetsu. government still existed. Its core business was being an One of Sangetsu’s most important initiatives is the installer of paper sliding doors and other traditional penetration and development of markets outside Japan. Japanese interior products for Nagoya Castle. Soon However, interior product business tends to be a localized afterwards, Sangetsu expanded its business scope to include business. Sales and marketing activities are closely tied to the wholesale and distribution of materials to be used for each market with specifiers and customers having histories such installations. and experiences unique to that market. Therefore, Sangetsu In 1953, the four brothers of the founding Hibi Family Corporation has been looking for the right partner in other transformed Sangetsu from a family owned business to a attractive markets. stock company. Sangetsu was subsequently listed on the Based on this business philosophy and strategy, Sangetsu Japanese stock exchange in 1980 and grew to become the has acquired Koroseal Interior Products last year. Koroseal largest interior product company in Japan. Sangetsu is has 20 - 25% share of wallcoverings for the contract market in handling all kinds of interior products; from wallcoverings USA and its subsidiary, Metro has 65% share in Canada. to flooring materials and fabrics to window films. During Sangetsu Corporation, together with its subsidiaries, this time, even after becoming a publicly traded company, develops and sells interior decorating products in China and the management of Sangetsu Corporation was still internationally. It operates showrooms in Shinagawa, Nagoya, controlled by the Hibi Family, until as recently as 2014, Osaka, Fukuoka, Sendai, Kanazawa, Okayama, Hiroshima, when the last of the Hibi brothers stepped away from the and Okinawa. 02 Sangetsu Showroom, Sendai Sangetsu Showroom, Shinagawa sangetsu corporation company profile at a glance (as at 31 march 2017) Date of Establishment: April 1953 (founded around 1849, during the Edo Period) President and CEO: Shosuke Yasuda Capital: JPY 13.6 billion Employees: 2,051 (consolidated) Headquarters: Nagoya, Japan | Branches(8), Sales Offices(26), Logistic center(12), Showrooms(9)
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