Sustainable growth for both the Toyo Ink Group and society
Over the past 20 years, the Toyo Ink Group has set out two long-term corporate visions, namely “TAKE OFF 2007” and “SCC2017”. Under the long-term corporate visions, we have been looking ahead ten years, with all of us sharing the vision. This has enabled us to achieve growth by not being influenced by short-term events and overcoming major external adverse factors such as the global fnancial crisis and the Great East Japan Earthquake.
For our new vision for the next ten years, we have carried out discussions across the Group over two years. As the culmination of these discussions, we set out “Scientifc Innovation Chain 2027 (SIC27)” as the long-term corporate vision which is the concept for our corporate activities to the year 2027. In SIC27, we launched our concept of “sustainable growth” as the position for day-to-day management norms based on our Corporate Philosophy, Corporate Policy and Guiding Principles with an awareness that practicing long-term sustainable management toward the 200th anniversary is our responsibility in todayʼs society.
Under SIC27, the Toyo Ink Group will create the framework for sustainable growth toward the 200th anniversary. Specifically, as a manufacturing Company, we will provide the best products for each region through local production for local consumption and seeking global collaboration. We will also work on overhauling our management foundation. Our ultimate objectives will be to consider the form in which we return profts to customers, employees, society, and shareholders, to change our structure flexibly into the ideal for business continuity and the value chain in an environment where there is a marked aging of the population and decrease in the working population, and to develop as an enterprise over the long-term.
Under the SIC-I (fiscal 2018 – fiscal 2020), the first medium-term management plan for SIC27 which started in January 2018, we have set targets of 350 billion yen for net sales and 28 billion yen for operating profit. In existing businesses such as printing inks and others, we will accelerate the shift to high value added products and overseas expansion. In new business, we have positioned the six priority domains of packaging, mobility, medical and healthcare, IoT, natural materials, and energy. In the future, we will develop businesses that are outside of the box for the materials manufacturer we have been up Until now, such as a sensing data business and energy reuse solutions business using unutilized heat in our lives.
Contributing to solving issues for consumers, living beings, and the global environment through our business activities
We have been engaging in our business activities with a Corporate Policy to be “a company that contributes to the enrichment of life and culture,” but under SIC27 we are expanding our focus from “consumers” to include “living beings” and the “global environment.” By working actively to solve issues for society and consumers, we aim to make a contribution for a vibrant world.
In order to achieve this, we believe that it is necessary to be explicit about the issues we should work on from the viewpoint of consumers, living beings, and the global environment. Since fscal 2016, we have been studying the material issues (materiality) for the Toyo Ink Groupʼs CSR activities, and we have established fve material issues.
Going forward, we will apply these material issues in our mediumterm management plans and annual plans in the same way as in SIC27 and establish targets and KPIs in each department to promote CSR activities through three-year PDCA cycles as we do for our mediumterm management plans.
In our previous CSR Reports, we described our CSR activities classified on the basis of the core subjects in “ISO 26000,” which is a standard for social responsibility. However, for this “CSR Report 2018,” we clearly stated the background and our approach in addition to “actions” and “future visions” for each of the fve material issues that we have established to report our activities to date. In particular, for “provide value that exceeds customer expectations and contribute to society,” which we consider particularly important for us as a manufacturing company, we reported on the development of biomass products, lithium ion batteries, and image sensors. Also,in view of the importance of corporate environmental initiatives, with the entry into force of the Paris Agreement and other issues, we prepared a new PDF version of the Environmental Report with the aim of further enhancing the content and posted it on the company website.
The Sustainable Development Goals (SDGs) call for universal actions aimed at ending poverty, protecting our planet, and ensuring prosperity for all by 2030. We also established the material issues for our CSR activities with a strong awareness of the importance of achieving the SDGs. We believe that collaboration between people, organizations, and countries is essential for achieving the SDGs. The concept of a “Chain” that is incorporated in SIC27 also suggests our links with our fellow human beings around the world and the continuity of “time.” We will work to achieve our long-term corporate vision and CSR material issues through a chain of individual actions.