In April 2024, we launched "NIFCO GLOCAL ( Global×Local ) STRATEGY", a new three-year rolling mid-term management plan. In order to incorporate the results of each fiscal year and changes in the business environment appropriately and to present the most appropriate and latest numerical targets to the entire company, we are rolling our mid-term management plan every year and working hard to achieve them.
Under our long-term vision of "Nifco makes Ideas a Reality", we aim to create a comfortable life and a sustainable society. With our slogan of "Co-Creation", we will open up the uncertain future and challenge realizing our long-term vision, by enhancing our existing business and further growth investment in exploring new businesses and through product development that pursues sensibility and universal value (Safety, Environmental, Comfort), solution selling through close customer contact, and penetration of "Nifco" brand inside and outside the company.
The concrete priority implementation items are as follows:
For the automotive industry, we will strengthen our solution selling skill (the solutions that exceed customer’s expectations), and aim for further growth in all automobiles including , ICE, Hybrid, and EVs. In addition, we will develop business with Chinese OEMs and actively invest resources in the Indian market. We will realize these business evolutions through the speedy management done by the RHQ (Regional Headquarters) system. In the beds and furniture business, we continue focusing on strengthening our product line-up and the brand, and we enhance our business in ASEAN region by starting the operation of a new factory in Thailand.
As for the growth area, we will work on creating new business. Here we will not insist on self-sufficiency, but will actively promote business development by considering alliances with other companies and M&A.
Furthermore, we will promote activities that will instill and pursue our purpose. By having each employee determine their own "My Purpose", which is the connection between their values and the company’s purpose, we will realize a transformation into an organization that can act autonomously. We will also strengthen our human resources and organization through formulating and executing a "succession plan", introducing a new job-based personnel system, promoting diversity, and improving employee engagement. The basis of all of this is strengthening the corporate governance system. In order to continuously improve our corporate value, we will also work to strengthen the functions of our Board of Directors, various committees, and ESG management.
We would like to thank our shareholders, investors, and all other stakeholders for your continued support expectations towards our company.
President & CEO
Masaharu Shibao