Formulation of the Next Medium-Term Management Plan and the Long-Term Vision for 2031

「As a medium-term initiative to enhance corporate value, the Group will promote the “Nippon Tungsten Group 2028 Medium-Term Management Plan (2028 Medium-Term Plan),” which ends in fiscal 2028, toward achieving “Vision 2028,” which sets out the Group’s desired future state, while addressing medium-term issues under sustainability-focused management.」

「Based on the company-wide strategic policy and outline of the next medium-term management plan, which reflects 3 management issues—fundamentally strengthening the company-wide strategy, maximising synergies between organisations, and improving productivity and added value—the Company aims for sustainable corporate growth and earnings expansion by formulating and achieving an effective next medium-term management plan under a new organisational structure.」

「Based on management issues identified through its past initiatives and results, the Group formulated a company-wide strategic policy and the outline of the next medium-term management plan, comprising 6 pillars. In the next fiscal year, fiscal 2025, it will strengthen organisational functions under a new organisation that enables execution of the company-wide strategy while proceeding with the formulation of the next medium-term management plan beginning in fiscal 2026.」

「As a medium-term initiative to enhance corporate value, the Group will pursue the strategies below under the basic strategies of “strengthening the foundation for growth” and “launching growth toward the 100th anniversary.”」

「The Group completed the third year of the “Nippon Tungsten Group 2024 Medium-Term Management Plan,” which ends in fiscal 2024. Although performance approached the targets during the first 2 years, it diverged from them in the third year. …The Group will steadily implement management strategies based on issues identified through backcasting to achieve the Sustainable Vision 2050 and the 2030 Long-Term Vision.」

「To realise the growth strategy set out in the “Nippon Tungsten Group 2024 Medium-Term Management Plan,” the Group focused on strengthening earnings capacity by promoting initiatives to enhance product capabilities for growth, including active PR activities for new products and continuous improvements based on customer feedback.」

「Under the growth strategy set out in the “Nippon Tungsten Group 2024 Medium-Term Management Plan,” the Group focused on improving its business portfolio by improving the profitability of unprofitable businesses and assessing whether to continue them, while strengthening earnings capacity and activities to create new products.」

「In the second year of the “Nippon Tungsten Group 2024 Medium-Term Management Plan,” the Group has pursued measures to strengthen earnings capacity by reinforcing the technological capabilities and expanding the market share of existing products and improving profitability through thorough production-cost reductions, in order to establish a business foundation for growth. It has also begun initiatives toward a sustainable society, including switching 100% of the electricity used at its 3 plants and head office building to renewable energy.」

「Our group has established the Japan Tungsten Group 2024 Medium-term Management Plan, which ends in fiscal 2024. To strengthen the foundation for growth, we are working to build an earnings structure capable of generating stable profits despite sudden environmental changes, concentrating resources through portfolio restructuring in businesses with growth potential, and accelerating new product development through a flexible development structure.」

「The basic policy of the “2024 Medium-Term Management Plan” is to “maximise business value and connect it to the future of the Company’s 100th anniversary by strengthening earnings capacity, expanding growth businesses, and accelerating the creation of new businesses, based on the basic policy of the 2020 Medium-Term Management Plan.” The Company aims to grow further and enhance corporate value.」

「In fiscal 2020, the Group will strengthen its activities, positioning the year as an important one for improving corporate value over the medium to long term by responding to deteriorating market conditions caused by the spread of COVID-19, formulating a new medium-term management plan beginning in fiscal 2021, and considering a long-term vision toward the Company’s 100th anniversary in 2031.」