Mori Seiki Announces Passing of Yukio Mori

Yukio Mori, former president of Mori Seiki, passed away on November 19, 2007 at the age of 75. Mr. Mori leaves behind an impressive legacy, having joined the company in 1954 and served the manufacturing industry for over five decades.

During his tenure at Mori Seiki, Mr. Mori was renowned for treating his employees with the utmost respect. At a ceremony in 1983, he stated, "Just as all living things will pass away eventually, so companies will also die. So what should we do to extend our life for as long as possible? We always keep this thought in mind while we are managing the company. Imagine that you are managers too, and start from what you can do. If you do that, then this unsinkable aircraft carrier will always remain unsinkable. If you don't, it will be destroyed from the inside, and will finally go down."

Even in the face of the extreme economic downturn, Mr. Mori embraced his employees and refused to allow any layoffs. In 2002, he explained, "We hold the management philosophy of ‘lifetime employment.' However, this does not mean the seniority system. This is because people are our assets, to make the company grow. For this reason, we will not reduce our personnel, in spite of the current recession."

A company funeral and memorial service were held on Saturday, December 15, 2007.