Please allow me to extend my deepest
gratitude for your ongoing support.
To provide you with a clearer
understanding of our initiatives,
I would like to share an overview of
our business activities, along with
the challenges we face moving forward.
Takanobu Yazaki
President Ichikawa
Co., Ltd.
Outline of the Seventh Medium-term Management Plan (“NE-24”)
The Group has achieved steady growth over the approximately 70 years since its founding in 1949. However, in recent years, we have continued to face significant challenges, including the structural decline in demand due to the digitalization of paper, increasing global competition, and the economic slowdown caused by the COVID-19 pandemic and the situation in Ukraine. In the years ahead, we also anticipate major shifts, such as the push toward carbon neutrality.
In this challenging business environment, we have analyzed globa lmega-trends for 2030 and defined how the Group will respond to those societal changes. As a result, we have established IK VISION2030, outlining our goals and the direction for the entire Group to pursue.
IK VISION2030
We aim to become a company that not only contributes to a sustainable society, but also ensures a high degree of satisfaction for all those who support Ichikawa—our employees and executives, business partners, shareholders, and the surrounding local communities.
In line with the direction outlined in IK VISION2030, the Group will work to achieve this vision through three consecutive medium-term management plans. As the first step, we have formulated our Seventh Medium-term Management Plan, “NE-24”.
Management Policy: (Our commitment to coexist with society is the foundation of our business.)
1.Machine Presses for Paper Products
Aiming for the world’s best quality as a comprehensive solutions company for papermaking press sections.
- Become a brand synonymous with reliability by pursuing customer-centric ssolutions.
- Become a global company with a strong market presence.
2.New Business
Establish new ventures focused on providing environmentally friendly products and materials that enrich people's lives.
“NE-24” Management Targets
- Consolidated net sales: 12 billion yen or more
- Consolidated operating margin: 5% or more
- Consolidated net income per share: 150 yen
The Group is the only company in Japan, and one of only a handful around the world, to develop, produce and sell all three types of products used in paper making parts, namely paper making felt, shoe press belts, and transfer belts. Leveraging the strength of that position, in our previous Medium-term Management Plan, in addition to forging ahead with our global advancement, we developed more efficient production systems in our efforts to improve our earning capacity. However, in terms of strengthening our profit foundations in the highly competitive overseas market, some challenges still remain.
As we seek to achieve our long-term vision, IK VISION2030, we have positioned the three years of the “NE-24” as a period in which we will “recreate the company.” We will strive to improve productivity by focusing on reducing production costs and making effective use of data and digital technologies, and establish a firm profit foundation by strengthening our ability to advance into overseas markets. At the same time, to make sustainable growth possible, we will embark on the strengthening of our systems for the development of new products and new production methods and on activities designed to build new businesses, including contributing to the environmental issues of our business partners. Further, positioning SDGs actions as key management issues, we will work to reduce our environmental burden through corporate activities and aim to achieve sustainable growth alongside local communities.
The Group will continue to take on innovative challenges and fulfill our social responsibility to our stakeholders, including shareholders, business partners, employees and local communities, as we carry on our day-to-day efforts to be a company that grows together with society. At the same time, to build the foundations to achieve those goals, we will strive to further enhance our internal controls and wok vigorously toward the expansion of our corporate value.