Business Strategy Focused on Carbon Neutrality, Decarbonization and the Shift to EVs
First written in FY2022. 2 of 4 entries say "Advanced", first in FY2023. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026Temporary slowdown in the shift to EVs presented alongside environmental initiativesAnnual report
「In the automotive industry, the previously rapid shift to EVs has temporarily stabilized, but the shift may accelerate significantly again depending on future U.S. policy developments.」
The premise has shifted to continued responses to EV adoption, with the trend temporarily stabilizing for now but potentially reaccelerating depending on U.S. policy. The company also describes switching to carbon-free electricity, converting company vehicles to EVs, and pursuing multi-material applications. - FY2025AdvancedAnnual report
「We accurately identified changes in demand for steel accompanying the shift to EVs, firmly maintained the existing supply chain for steel products, and considered handling materials other than steel, thereby pursuing multi-material applications and expansion into new business areas. Electric-furnace steel has the advantage of producing approximately one-fifth the CO2 emissions during manufacturing of blast-furnace steel, which is made from raw materials such as iron ore and coal. We actively expanded sales of electric-furnace steel as a decarbonized steel product and worked with business partners to promote carbon neutrality across the entire supply chain.」
The company made its response to EV adoption more specific through the handling of new materials and multi-material applications, and also expanded sales of electric-furnace steel. For fiscal 2024, it disclosed an EV order ratio of 2.0%, a steel/multi-material ratio of 0.17%, and an electric-furnace steel ratio of 3.6%, together with the variances from the plan. - FY2023AdvancedAnnual report
「We will accurately identify changes in demand for steel accompanying the shift to EVs, firmly maintain the existing supply chain for steel products, and consider handling materials other than steel, thereby pursuing multi-material applications and expansion into new business areas. Electric-furnace steel has the advantage of producing approximately one-fifth the CO2 emissions during manufacturing of blast-furnace steel, which is made from raw materials such as iron ore and coal. We will actively expand sales of electric-furnace steel as a decarbonized steel product.」
Specific measures have expanded from the previous focus on the shift to EVs and decarbonization to multi-material applications involving aluminum, titanium, and resins, as well as expanding sales of electric-furnace steel, whose CO2 emissions are approximately one-fifth those of blast-furnace steel. - FY2022First statedAnnual report
「The second initiative is to develop a business strategy that recognizes changes in industrial structures aimed at carbon neutrality and decarbonization. In addition to our Group's own efforts to reduce environmental impact, we will consider and implement a business strategy to ensure that our Group remains indispensable in an industry where the shift to EVs has accelerated. We will also further strengthen our processing capabilities with these objectives in mind.」
The company specified for the first time measures to reduce environmental impact, consider business strategies, and strengthen processing capabilities based on decarbonization and the shift to EVs.