Noritake's Growth Strategy

We will focus on three growth areas to realize the 2030 Long-term Vision (ideal target).

In formulating the 12th Three-year Business Plan, the Noritake Group clarified its Long-term Vision and sets forth the initiatives for achieving them. Noritake will be promoting its business in order to achieve this Long-term Vision and contribute to a better society.

Long-term Vision for 2030 (ideal target)

The Noritake Group’s management philosophy is centered on “contributing to society through business” as stated by one of the founders in the Noritake Creed.
We recognize that business conditions surrounding the Noritake Group will continue to be uncertain and difficult to predict in the future due to increasing geopolitical risks, the development of a carbon-neutral society, accelerating digitalization, and diversifying lifestyles. In formulating the 12th Three-year Business Plan under these conditions, we have created a Long-term Vision (ideal target) focusing on fiscal 2030, have provided direction for our strategies to realize that vision, and then clarified the positioning of the three years of the 12th Three-year Business Plan and defined specific strategies to be addressed.
The Group will strengthen its management base and focus on growth areas to contribute to society as “a driving force essential for today’s changing society with our unique material and process technologies.”

Group Strategy (basic policy)

In order to realize the Long-term Vision for 2030, we have designated the following three business fields, environment, electronics, and well-being as growth areas. We will promote "Concentration in Core Competence" in these three areas and shift our business fields from the current fundamental business fields (internal combustion engine, ceramic industry, etc.) to growth areas (environment, electronics, and well-being).
Through our efforts in those growth areas, we aim to become a Group that contributes to "the global environment," "a convenient society," and "the people’s well-being."

Business strategy

Among our current business areas, we focus on the following areas in the coming years. Through initiatives in these markets, we will promote our business toward the realization of the society that the Group aims to achieve.

About the 12th Three-year Business Plan(FY2023 initiatives)

Looking ahead to fiscal 2030, the 12th Business Plan is positioned as a period for "enhancing the revenue base and preparing for growth areas." In order to enhance the revenue base, we will reorganize unprofitable products and businesses, and improve and rationalize profitability. In particular, in order to enhance the management base, we worked on the following themes across the company.

Company-wide initiatives to enhance the management foundation

Creation of new businesses

•Started operation of a development theme proposal system targeting all employees and the Stage-Gate system for commercialization
•Development of new products
•Development of new applications and markets for existing technologies
•Establishment of an open innovation promotion system

[Future initiatives]

•Entrenchment and improvement of the commercialization processes, including the development theme proposal system
•Establishment of an open innovation promotion system
•Acceleration of development through strengthened collaboration with other companies (startups and partner companies, etc.)

Establishment of sustainability management system

•Establishment of the Sustainability Management Committee (April 2023)
•Participation in the GX League* (May 2023)
•Establishment and disclosure of the Noritake Group Human Rights Policy (October 2023)
•New establishment of the Risk Management Committee (April 2024)
•Promotion of efforts toward achieving carbon neutrality, including energy-saving initiatives for facilities and the use of renewable energy

[Future initiatives]

•Review of materiality items
•Setting of new medium- and long-term targets

* GX League: Led by the Ministry of Economy, Trade and Industry, the GX (Green Transformation) League is a platform for companies working toward achievement of carbon neutrality by 2050 to collaborate with other companies, the government, universities, and academic institutions engaged in similar initiatives to discuss transformation of the entire socioeconomic system, and engage in creating new markets.

Organizational culture reform

•Introduction of new personnel system (April 2024)
•Revision of the evaluation system to encourage a higher level of challenges
•Early promotion of talented human resources
•Raising the retirement age from 60 to 65
•Recognition of issues by conducting engagement surveys and implementation of measures

[Future initiatives]

•Entrenchment of the new personnel system
•Promotion of work style reform

Promotion of digital transformation (DX)

•Promotion of visual representation of processes and data-driven process improvements to strengthen the foundation for business process reforms using digital technology
•Launch of "DX Promotion Leader" training programs

[Future initiatives]