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Pursuing New Growth |
(Presentation at Results Meeting for First Half of the Fiscal Year Ending March 31, 2009, as presented Nov 7, 2008) |
Next is Cosmo Securities. As part of our plan to shift business resources from wholesale to retail business, a traditionally strong area for Cosmo Securities, we have withdrawn from or significantly reduced our presence in non-performing underwriting and wholesale business. At the same time, in retail business, we have been revamping our organizational, personnel, and marketing systems in order to reinforce our sales capability. We are also working to cut costs. This fiscal year we intend to reduce SG&A expenses by a little more than ¥3 billion. We will continue to cut costs next fiscal year and beyond in a drive to promptly return to profitability.
Moving on to IT services, we will continue to work to ensure profitability by enhancing sales and reducing costs. Another area of attention is project management. Here, our priority focus will be unprofitable projects. Our initiatives in this area will include revamping our system for prompt problem detection and project profitability monitoring.
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