10% global engine valve market share under “Global 10”
First written in FY2016. 2 of 7 entries say "Restated". Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022DroppedAnnual report
「As a new start, the group announced new targets under the three-year “2023 Medium-Term Management Plan” covering 2021 through 2023 on 23 June last year.」
There was no mention of “Global 10,” and the company had shifted to new targets under the 2023 Medium-Term Management Plan. - FY2021ReframedAnnual report
「However, the “2020 Medium-Term Management Plan,” including fiscal 2020, its final year, failed to achieve its targets because the business environment described at the outset changed substantially more than anticipated. *The group’s goal of acquiring a 10% global market share for automotive engine valves is referred to as “Global 10.”」
The company explicitly stated that the 2020 Medium-Term Management Plan underlying Global 10 had failed to meet its targets and shifted to a policy of setting a new long-term vision from fiscal 2021. - FY2020SoftenedAnnual report
「To achieve the group’s long-term vision* “Global 10,” we agreed in 2016 to integrate operations with Mitsubishi Heavy Industries Machine Tool Co., Ltd., received the transfer of its solid valve business, and established a joint venture to manufacture the high-performance umbrella hollow valve. To realize the resulting synergy effects, we formulated and implemented the three-year “2020 Medium-Term Management Plan,” beginning in fiscal 2018, based on a management strategy aimed at establishing a firm foundation as a global company. However, we recognize that achieving the targets for fiscal 2020, the final year of the plan, will be difficult as the business environment described at the outset has changed substantially more than anticipated. *The group’s goal of acquiring a 10% global market share for automotive engine valves is referred to as “Global 10.”」
The company maintained the Global 10 targets but explicitly stated that achieving the fiscal 2020 targets would be difficult, weakening the outlook for achievement. - FY2019RestatedAnnual report
「To achieve the long-term vision* “Global 10,” the three-year “2020 Medium-Term Management Plan,” beginning in fiscal 2018, will focus on the following initiatives based on a management strategy aimed at realizing synergy effects and establishing a firm foundation as a global company. *The group’s goal of acquiring a 10% global market share for automotive engine valves is referred to as “Global 10.”」
The company maintained the 10% global market share target under Global 10 and explicitly stated its relationship with the 2020 Medium-Term Management Plan. - FY2018RaisedAnnual report
「*This is the group’s long-term vision. The management goals of acquiring a 10% global market share for automotive engine valves, achieving a 10% ROS, and establishing 10 locations worldwide are referred to as “Global 10.”」
In addition to the previously stated 10% global market share, a 10% ROS and 10 locations worldwide were explicitly identified as components of “Global 10,” expanding the scope of the goals. - FY2017RestatedAnnual report
「To achieve the long-term vision* “Global 10,” with fiscal 2020 as the target year, we steadily expanded overseas and promoted sales in overseas markets by leveraging overseas production bases. *The group’s goal of acquiring a 10% global market share for automotive engine valves is referred to as “Global 10.”」
The company reaffirmed its goal of acquiring a 10% global market share for automotive engine valves, with fiscal 2020 as the target year. It did not report whether the goal was achieved. - FY2016First statedAnnual report
「To achieve the long-term vision “Global 10,” with 2020 as the target year, we actively expanded overseas and responded to growing overseas demand by leveraging overseas production bases.」
The company explains that “Global 10” means the group’s goal of acquiring a 10% global market share for automotive engine valves.