Manufacturing for People and the Unifying Force of Our DNA
Founded in 1918 with just seven employees, GLORY began as a factory for repairing light-bulb manufacturing devices. As our work consisted of irregular repair and subcontracting jobs, the business was not very stable in the beginning. Nevertheless, our founders were determined to one day have the company's name on its own products. The rest is history. Today, GLORY can look back on having overcome many development challenges over the years.
A major turning point came when the Ministry of Finance's Mint Bureau (known today as the Japan Mint) asked us to develop a coin counter. Until that time, the Mint Bureau had been using imported machines that were bulky and difficult to operate and maintain. Despite having no previous experience in this field, we immediately accepted the challenge. After all, it was an opportunity to open new doors to product development. Months of trial and error led to the successful completion of Japan's first coin counter in 1950.
This coin counter was our first step as a pioneer in the money handling machine business. Over the years, GLORY has released a string of first-in-Japan products, such as coin wrappers, coin sorters, cigarette vending machines, and coin-operated lockers with extendable time limits. Our corporate philosophy, "We will contribute to the development of a more secure society through a striving spirit and cooperative efforts," encompasses our stance of continuously striving to benefit people by creating products that have never been seen before. This perspective has been handed down through generations and remains an integral part of our corporate culture and DNA.
This corporate culture provides the basis for the continued expansion of our business. In addition to our core proprietary technologies in recognition/identification and mechatronics, one of our greatest strengths is the ability to respond promptly to customer needs. We do so through a consistent group structure that integrates every stage of the product process, including planning, development, procurement, manufacturing, sales, and maintenance.
Global Strategy, New Challenges
Looking towards our centennial in 2018, we have formulated the Long-Range Vision 2018 as a shared target for achieving the group vision of "GLORY as the world's top brand"—that is, making ourselves the world's leading brand in our field. The final step towards achieving this is the 2017 Medium-Term Management Plan, a three-year plan that began in April 2015. This plan's basic policy is to realize business growth through "customer-oriented superb manufacturing" and enhance profitability to achieve the Long-Range Vision 2018. After implementing the key strategies, we saw a strong business performance in Japan and worldwide for fiscal year 2015, the first year of the plan. As we approach GLORY's 100th anniversary, fiscal year 2016 will be crucial as the second year of the plan.
The GLORY Group does business in over 100 countries, conducting locally geared strategies based on meticulous analysis of the various needs and challenges in each country and region. We also leverage proprietary technologies and know-how built up in Japan to provide customers with high accuracy and efficiency in value-added products and solutions.
In pursuing this global strategy, GLORY is striving aggressively to create new value in fields beyond money handling machines. One focus will be the increasingly important market for security products. Here, we are applying our existing core technologies and conducting research that is advancing new technologies such as facial recognition. Facial recognition has already been successfully applied to commercially viable keyless room entry systems for hotels. This technology offers convenience and safety, and it boasts the industry's highest level of facial recognition accuracy. We expect to see it incorporated into many more facets of people's daily lives in the near future.
Contributing to a Sustainable and Diverse Society
In 2014, GLORY signed the United Nations Global Compact. We make every effort to comply with the 10 principles covering human rights, labor, the environment, and anti-corruption. We believe that these 10 principles are based on the same values as those underlying our Corporate Action Guidelines.
As a global company, we place the utmost importance on efforts that promote respect for and the furthering of diversity. It is our belief that in order to achieve greater growth and contribute to society on a wider scale, many individuals of differing nationalities, religions, cultures, and values must work together towards a common goal. Our Guidelines of GLORY handbook contains our corporate philosophy, Corporate Action Guidelines, and other information. Produced in eight different languages, this handbook has been distributed to all of our worldwide employees.
Guided by our corporate philosophy, we will continue to earn the trust of our stakeholders and strive to be a corporate group contributing to the realization of a sustainable society.
President, GLORY LTD.