Our Group has formulated a new midterm management plan starting in FY2023 that sees increased needs for electrification, where our core technologies can be utilized, even as we face a harsh business climate due to issues such as the fluctuations in the automobile industry caused by the spike in raw material and logistics costs and the shortage of semiconductors. In this midterm management plan, with the slogan of “Becoming a sustainable growing company that meets the expectations of a mobility society,” we have set out three management policies to serve as its pillars. These are “Responding to mobility evolution,” “Strengthening the operating foundation,” and “Soundness of financial structure.” The entire Group is promoting this plan with the view to achieving Mitsuba Vision 2030.
Technology is evolving and lifestyles are changing. So to adapt to these, the demands of mobility are becoming ever-more sophisticated. In the field of electrification in particular, the advent of needs that never previously existed or new players means more new business chances. We are responding to these expectations through the evolution and fusion of motor technology and control technology, which are our core technologies.
We have been working on the reinforcement of our corporate structure through increasing the sophistication of our revenue management and reforming our structure, but to take this further, we will be reinforcing our basic management system of increasing the sophistication of PSI (Production, Sales and Inventory) and optimizing global quality costs, and reconstructing our production and supply system on a global basis to build a strong operating foundation.
We are improving our cash flow by adapting to the evolution of mobility, boosting our product competitiveness, and reinforcing our operating foundation, working to create a sound accounting and finance system. While maintaining accounting and financial discipline, we will push forward with shifting management resources to growth areas to build a strong accounting and financial foundation to support our future businesses.
The external environment remains harsh, but the global mobility evolution and motor demand will continue to expand and become more complex, and we have seen an increasing number of inquiry themes that lead to business chances. We shall continue working to respond to society’s expectations and become a trusted company by reinforcing corporate governance and ensuring compliance so we can achieve the Mitsuba Vision 2030, which calls for contributing to a carbon-neutral society, based on our corporate philosophy of “providing pleasure and peace of mind to the people of the world.”
Representative Director, President
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