However, we started to see pricing systems begin to collapse a few years ago. We found ourselves no longer competing against Japanese manufactures alone. We are now up against companies from China as well as Taiwan, and soon Indian companies will get into the game. In order to consolidate Minebea's strengths and survive in this competitive arena, we will incorporate the parts, production and sales divisions all into one business unit under the new organizational structure. We will aim to increase sales by leveraging the profits from the overall operations of the business unit. We will also continue to pursue high-value-added products as we have done in the past.
While our previous organizational structure limited us from reaching out to lower-price markets, the new organizational structure will allow us to more readily meet demand for flexible pricing and expand into these markets.
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