Messages from Top Executives at Regional Headquarters
Ensuring the Success of DIC 111
With over $3.0 billion in revenue and more than 8,000 employees, Sun Chemical is a proud member of the DIC group. Sun Chemical is a global leader in inks, pigments and rapidly growing in advanced materials, where many of these products have been developed internally by DIC. As we embark on a new Mid Term Plan with DIC111, we look forward to the opportunities and challenges presented by a changing and dynamic marketplace. We will continue to upgrade our products and market portfolio. We will have a global focus yet service our customers’ needs locally.
Anchored by our core ink and pigment businesses, Sun Chemical is establishing a platform of high growth, high margin specialty products. These products, which have been added to our portfolio through an active acquisition program and internal development, provide Sun Chemical the opportunity to enter or enhance its position in valuable growth markets such as cosmetics, security inks, plastic and ID cards and printed electronics.
We have benefitted from the ability to leverage the significant resources of the DIC group as we execute our strategy. The world-class research and development resources of the DIC group are the strongest among all our competitors. These resources allow Sun Chemical to continually present our customers and brand owners with new and innovative products and ideas to enable them to succeed in their markets, thereby strengthening our business relationships.
As we continue to develop our product portfolio in order to bring new and innovative products to our customers, we remain mindful of our obligation to do so in a responsible manner that considers our impact on the environment. We are committed to the promotion and development of sustainable products that are eco-friendly and reduce the environmental footprint that we and our customers leave on the planet.
We are excited about our future at Sun Chemical and we are committed to doing our part to make the DIC group and DIC111 a success.
Transformation and Growth through Collaboration
he Asia Pacific region is a vibrant and one of the fastest growing region. It is made up of several countries, which is rich in culture, language and ethnicity. With a dynamic and professional workforce of 3,600 employees, we are presently operating in 11 countries with 19 facilities across Asia Pacific.
The Group’s vision as embedded in the DIC111 is on the principle of sustainable growth through value transformation. This is against the backdrop where the global economy has significantly changed and the fact that globalisation itself has now taken a different meaning. All this coupled with the dawn of the Fourth Industrial Revolution has taught us that change and transformation is inevitable. The once sheltered Asia Pacific Region is now vulnerable but this can bring us many opportunities.
As part of the strategy to support the DIC111 in the Asia Pacific region, the concept of the “3 S” will be implemented. This will entail the Support and the strengthening of the functional and specialist organisations that we will need to transform into. Capitalising on the professional skillsets of our valued employees and technology, new business pillars aligned to the sustainable theme will be identified, developed and launched. The drive for business alignment through partnership and M&A’s activities will be one of our main focus.
Through Specialization, the “Shared Economy” framework will be expounded, driven and implemented. Driving business efficiency through the use of digital tools and analytics, will help the region to focus on “doing things right the first time” while enhancing our valued Customer’s experience and touchpoints through sustainable quality products.
Capitalising on the Group’s strength in technology and aligning with the fast changing laws in the Region, DIC Asia Pacific group will also drive the Sustainability pillar. This will improve and embrace our outreach to our valued Customers – through “Color and Comfort”, business collaboration with our partners through our practice of the “DIC Way” and promoting “Diversity, Mobility and Transparency” in a safe work environment for our valued employees. We strongly believe that through effective collaboration with all our stakeholders, the drive to success is assured.
Promoting Our New DIC111 Medium-Term Management Plan
DIC (China) oversees the operations of the DIC Group in Greater China, encompassing 29 companies—including two in Hong Kong and five in Taiwan—and approximately 2,300 employees. Having set a target for regional net sales of ¥85 billion-plus for fiscal year 2019, we recognize that achieving Value Transformation, a core policy of DIC111, is the most critical challenge we face in the rapidly evolving local economy. Accordingly, we will press ahead with decisive efforts to make qualitative changes to our core businesses, maintaining an accurate grasp of the direction of market change.
While the size and potential of the market in Greater China cannot be denied, the existence of a wide range of regional business risks is another point that is often raised. Of particular note in recent years is the swift and seemingly relentless deployment of environmental regulations in the PRC, which in addition to causing considerable confusion in the market has given rise to uncertainty regarding business continuity. The DIC Group must take measures to prepare for near-future risks in a number of its businesses. However, if we look at it from another perspective this may also be a major business opportunity. That is to say, the certainty that multiple companies will drop out of the market will likely help dispel the futile, price only–based competition that currently dominates every sector as a result of overcapacity for some time. In such a market, the critical competitive strength will be brand reliability.
Against this backdrop, as a member of the DIC Group— an organization strongly committed to advancing sustainability—we will actively and earnestly promote ESG-related initiatives, leveraging the trust we earn to expand our operations and contributing to achievement of the targets of DIC111.
In the current fiscal year, we established a Corporate Communications Department at DIC (China) with the aim of bolstering recognition of the DIC name and increasing the Group’s profile. The new department will work with DIC’s Corporate Communications Department to promote effective branding efforts in Greater China and support the efforts of product divisions.