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Official TOYOTA BOSHOKU CORPORATION press release
November 23, 2023 at 08:32 pm EST
Briefing on 2030 Mid-term Business Plan
November 24, 2023
Toyota Boshoku Corporation
１
Introduction
Steadily implementing the Plan toward realizing the Vision
Looking into the future, we will create
tomorrow’s automobile interior space that will
inspire our customers the world over.
To become a sustainable, leading global company by enhancing corporate value
(Creating new value as the Interior Space Creator)
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As an interior system supplier, become a company |
Our |
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that serves as “Home” and secures |
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competitiveness that can surpass global suppliers |
desired |
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status for |
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2030 |
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2025 |
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Target |
CONTENTS
Progress of 2025 Mid-term Business Plan- Framework of 2030 Mid-term Business Plan
- Actions to achieve 2030 Mid-term Business Plan
- Targets of 2030 Mid-term Business Plan
３
1. Progress of 2025 Mid-term Business Plan
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Outlook for Achieving Major 2025 Targets
Most targets are likely to be achieved (with some exceptions).
Further efforts will be made toward 2025.
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FY2024 Forecasts |
FY2026 |
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FY2026 Targets |
Exchange rate in |
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Actual exchange rate |
Forecasts |
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Mid-term Plan |
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Revenue (100 million yen) |
16,000+α |
17,000 |
19,700 |
〇 |
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Operating profit (100 million yen) |
1,000+α |
800 |
930 |
〇 |
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Operating profit ratio |
6.0 to 7.0% |
4.7% |
4.7% |
△ |
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Non-Toyota sales ratio |
13% |
8% |
〇 |
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(USD: 105.00) |
(USD: 141.00) |
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E: Production CO2 emissions reduction ratio |
-25% |
-39% |
〇 |
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(Compared to |
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FY2020) |
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S: Number of patent applications submitted |
320/year |
290 |
○ |
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G: Shortening of lead-time for management |
Settlement lead time: |
8 days |
〇 |
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decision making |
5 days |
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5 |
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2. Framework of 2030 Mid-term Business Plan
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2030 Environmental Recognition (macro, mobility industry)
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Transformation of automobile market due to |
Diversifying user needs |
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entry from different industries |
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BEV |
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Z/α generations |
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MaaS |
• |
Aging of population |
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• |
CASE |
• |
Regional characteristics |
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Interior space becoming a key |
Expanding needs for time and space |
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differentiating factor |
in vehicles |
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Co-existence with nature |
Diversity in working people |
Decarbonation
Circular economy
Nature positive
Addressing environmental issues
to improve corporate value
Diversity & inclusion
Declining birthrate and aging population
Changes in workstyle
Creating value by utilizing diverse talents
As the image of future mobility is becoming clear, we are aware of the rising expectations for comfortable vehicle
interior space based on safety and environment-friendliness.
7
Framework of 2030 Mid-term Business Plan
Change in external environment
Rising expectations for comfortable
vehicle interior space
2030 Target
Become a company as the Interior Space Creator which Contributes in solving social issues
while expanding product range and customer base
TB’s strengths
Technologies for products closest to users
R&D
Global deployment capabilities
MONOZUKURI
Abundant global human resources
HITOZUKURI
Financial targets for 2030
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Revenue: |
2,200 billion yen |
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Operating profit: |
150 billion yen |
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Operating profit ratio: |
7% |
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DOE: |
3% or more |
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(Dividend payout ratio around 30% is considered) |
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Equity ratio: |
around 50% |
（USD:135.00）
Non-financial targets for 2030
E: Scope 3 emissions reduction ratio
-30% (Compared to FY2020)
S: Ratio of female managers
5%
Degree of implementation of the Toyota Boshoku Group
Strength as a member of the Toyota Group
Lacking abilities are mutually complemented
within the Group
Supporting foundation
Strengthening of competitiveness (R&D, sales, and MONOZUKURI) and management
foundation (development of people, organizations, and culture)
Framework of 2030 Mid-term Business Plan
2030 Target
Become a company as the Interior Space Creator which contributes in solving social issues
while expanding product range and customer base
Economic value
Growing into a supplier capable of planning and proposing an entire
- Expanding product fields and interior
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space business |
P13・14 |
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● Responding to multi-pathway |
P15・16 |
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● Research and development for |
P17 |
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new business creation |
- Pursuing innovations for the future P18
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● Activities to expand sales |
P19 |
- Strengthening MONOZUKURI
competitivenessP20・21・22
Enhancing
corporate value
Implementing
CSV management
Social value
Providing comfortable and quality vehicle interior space and time
Supporting the elderly and persons with disabilities with medical vehicles and mobility independence support- Contributing to carbon-freesociety with new techniques
- Contributing to solving future food problems and realizing a circular society
Providing more customers with good and reasonably priced products
●HITOZUKURI and utilization of human resources P23
Creating an organization and culture
P24
Environmental Vision
Revised Environmental Vision as guidelines for implementing CSV
management and activities to enhance corporate value
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Three Priority Actions |
Challenge 6 |
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Global warming prevention |
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Resource |
GHG Net-zero in the |
GHG Net-zero in |
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circulation |
product life cycle |
the plant |
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Resource circulation |
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Co- |
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Global |
Sustainable |
Waste |
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existence |
resource circulation |
minimization |
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warming |
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with |
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prevention |
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Co-existence with nature |
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nature |
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Environmental management |
Water resource |
Conservation and |
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impact |
regeneration of |
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minimization |
natural capital |
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- ELV: End of Life Vehicle
PCR: Post-consumer Recycle
- Reduction target (compared to FY2020) Scope1/2: -50%
Scope3: -30% - Response to ELV* regulations: Promoting use of PCR* materials
Enhancing “nature positive” activities
Information disclosure in line with TNFD
We will work together with all stakeholders with the aim of creating a sustainable global environment
where children can lead their lives with a smile.
10
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Disclaimer
Toyota Boshoku Corporation published this content on 23 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2023 01:31:09 UTC.
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TOYOTA BOSHOKU CORPORATION is a Japan-based company mainly engaged in the manufacture and sale of automobile parts and textile products. The Company operates through four geographic segments including Japan, Americas, Asia & Oceania, as well as Europe & Africa. The Company is involved in the manufacture and sale of interior products, automotive filters and power train equipment parts, other automobile related parts, as well as textile related products.
More about the company
Buy
Last Close Price
2,613.00JPY
Average target price
2,928.57JPY
Spread / Average Target
+12.08%
Consensus
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