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2021

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“2021, Accelerate Transformation to Become the Company that Can Respond Flexibly to Changes in Business Environment”January 4, 2021Press Release

I would like to wish everyone a happy New Year. I hope that you have had a pleasant New Year's celebration.

Last year, NTN took initiatives to ensure all employees stay healthy and safe and prepare for business continuation and future growth as a crisis response period due to the spread of the new coronavirus infection throughout the world. During the new fiscal year starting this spring, we will launch our new medium-term management plan and accelerate “Transformation” of our business structure.

NTN will take the following initiatives.

Establish a financial structure that can create corporate value

In the aftermarket business, we will focus on strengthening our supply systems and aim to increase sales by expanding on stock strategically and utilizing outsourced channels. In the industrial machinery business, we will concentrate our effort on wind turbines and other industries that are growing in demand, as well as developing and proposing products catering to IoT and robotization. Also, we will construct business models that are certain to incorporate demand from OEM sales to aftermarket business through strong cooperation with our aftermarket business.

In the automotive business, we aim to further increase sales by developing and proposing electric module products catering to EVs and electrification, high performance products that are lighter in weight and more compact, have a higher efficiency and lower torque.

In variable cost reformation, we will promote optimal procurement on a global scale, achieve stable procurement, and reduce variable cost. In production reforms, we will aim to shorten the lead time and reduce stock by streamlining to ensure a smooth flow of parts, and change to monozukuri that produces cash. Also, the entire company will improve the productivity and efficiency of work and promote the utilization of digital technology such as new core IT systems and RPA.

By reviewing our business and product portfolio, we will lower the break–even point and construct a financial structure that can always make profit through the transformation and DX in procurement and production.

Accelerate development in new areas

Utilizing core technologies that NTN has been cultivating, we will accelerate initiatives in new areas such as the service and solution business, regenerative medicine and natural energy. We will also take actions to create innovation through the alliance with outside institutions in the research such as prediction of bearing operating life by utilizing a condition monitoring system (CMS) and also in research and development using iPS derived cells. In the natural energy business, we will propose products that utilize renewable energy such as the “N3 N-CUBE,” the Container Type Transportable Independent Power Supply that local governments decided to install, to contribute towards achieving a recycling-based society.

Strengthen ESG management

We are strengthening ESG management to become a company that is needed by society in the future. By specifying materiality, we will take actions to solve social issues through our business activities. NTN will contribute to mitigate environmental load by reducing CO2 emissions in our business activities and increasing the ratio of products that significantly contribute to the environment to respond to the climate change. Also, we will create a work place where all employees can respect human rights, work safely and healthily, as well as play an active role through work style reforms to achieve a work-life balance. Furthermore, NTN will construct a management system that is both transparent and fair by strengthening governance of the company.

Last year, the business environment and people's life style changed drastically due to the spread of the new coronavirus infection. This year, we will further accelerate the “Transformation” that we have been promoting so far, and construct a business structure that can respond to changes in the business environment and aim to achieve sustainable growth.

I would like to conclude my new year's greeting by offering a prayer for the health of all of you and your families.

Hiroshi Ohkubo,
Director
Representative Executive Officer, President
CEO (Chief Executive Officer)
NTN Corporation

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