Denka celebrated its centennial year ,2015. I would like to take this opportunity to thank the many people who have made this achievement possible. Established in 1915 to manufacture and market calcium carbide and calcium cyanamide, Denka took over the Hokkai Carbide Plant, which was founded by Dr. Tsuneichi Fujiyama, with funding from the Mitsui Group. The Company soon proved itself one of Japans modern chemical industry pioneers.
The Company established the Omuta Plant in 1916 and the Omi Plant, backed by ample limestone reserves and its own hydroelectric power plant, in 1921. As it worked to expand the market for the up-and-coming fertilizer calcium cyanamide business, Denka began building business and technology bases that endure to this day. Beginning with the commercialization of chloroprene rubber manufactured using proprietary Denka technology, we continued to expand into new fields, including electronic materials and pharmaceuticals.
Over the course of its history, Denka has faced many struggles and several critical junctures. It is thanks to the solid foundation laid by our forebears that the Company was able to meet and overcome each obstacle and persevere—a legacy that we must never forget. As we move ahead, I would like everyone to join me in recognizing those forebears, people who tirelessly labored to build the Company into what it is today.
With business environments changing rapidly due to ongoing globalization and the emergence of the information age, those who fail to notice changes in market needs or economic structures will be left behind. No matter how advanced your product may be, you cannot base a business on it if you cannot get anyone to recognize its value. We are therefore taking a number of specific actions based on the new growth strategies formulated in April 2013 aimed at securing sustainable growth over the next century. I am confident that these efforts are helping every employee to espouse a proactive attitude and an enduring spirit while making solid progress in the development of our corporate culture.
However, to prosper regardless of the business environment, we must build a new Denka that is both flexible and tenacious. We have a long way to go to achieve this; however, by all of us working together we will prevail.
We have created a new corporate logo and slogan and the Company changed its name to Denka Co., Ltd. on October 1 ,2015 with the approval of shareholders. This is intended to signal, both internally and externally, Denkas renaissance. In addition, we have established the Denka Principles for all Denka Group employees around the world, laying out such points as the basic stance and fundamentals for taking action as well as the nature of the relationships they have with society. This is an effort to share the values at the heart of our corporate activities and further instill these values throughout the Company. These values include putting safety first, giving due consideration to the environment, creating value through manufacturing, and our commitment to being a dependable corporation.
Contributing to the sustainable development of society is key to being free to pursue business activities as a corporation. We will nurture those qualities that make us uniquely Denka to ensure continued growth for the next 100 years and strive to fulfill our corporate social responsibilities in line with a new corporate identity based upon those principles. As a trustworthy and familiar company, we will continue to strive to achieve sustainable development.