In April 2021, we launched Nifco Global Growth Strategy, a three-year rolling mid-term management plan.
This is intended to incorporate the results of each fiscal year and changes in the business environment as appropriate, to present the most appropriate numerical targets and to make a concerted effort for the entire company. As such, in this rolling mid-term management plan, we will clarify the latest management targets and work to achieve them.
First, in existing business areas, we will steadily increase sales by increasing the amount of our products installed in each automobile. In addition, we will establish a solid foundation for generating profits by strengthening profitability through cost reduction activities and fixed cost management. By investing the funds generated there in future growth businesses, we will build a new pillar of earnings.
Specifically, in addition to developing products centered on universal themes of the automobile industry, such as "environment," "safety," and "comfort," we will also promote the development of products for xEV (electric vehicles in general). Furthermore, we will efficiently explore new needs and cultivate new markets by expanding our strong product line-up to our overseas subsidiaries.
In the beds and furniture business, in addition to establishing new channels and strengthening sales by leveraging its strong brand power, we will steadily plant the seeds for the future, such as embodying new businesses as new growth fields.
At the same time, in order to establish a sustainable management system, we will strive to avoid management risks by strengthening our management foundation and governance.
We would like to ask our shareholders, investors, and all other stakeholders for their continued support and trust in our company.
as of June 22, 2023
President & CEO
Masaharu Shibao