Notice Regarding Formulation of Mid- to Long-Term Vision
April 28, 2021
NGK INSULATORS, LTD. hereby announces that it has formulated its mid- to long-term vision, NGK Group Vision: Road to 2050.
Since our foundation in 1919, the NGK Group has provided society with new values centered around ceramics, while possessing an SDGs-like concepts. Still valuing this philosophy, we formulated a mid- to long-term vision in April 2021 in order to continue contributing to the resolution of social issues in an era of extreme change.
NGK Group Vision: Road to 2050
Envisioning the future society of 2050, we will seize the enormous trends of rapid advancement toward the realization of carbon neutrality and a digital society as an opportunity for new development and work on promoting Five Transformations: (1) Promotion of ESG management, (2) Profitability improvement, (3) Focus on R&D, (4) Focus on commercialization, and (5) DX (digital transformation). With “Surprising Ceramics.” as the slogan for our unique ceramic technology, we intend to convert our business structure in anticipation of the “Third Foundation.”
We will position fields related to “carbon neutrality”, in which people coexist with the natural environment, and ”digital society”, in which they can live securely, conveniently, comfortably, and in good health, as the focus fields and will develop business so that products related to these fields make up 80% of the company’s sales in 2050. We plan to allocate a total of 300 billion yen in R&D expenses over the next 10 years and distribute 80% of that amount to both fields. We have established a goal of “New Value 1000” to achieve net sales of 100 billion yen from new businesses in 2030, which will be a checkpoint in the plan. We will invest management resources with a focus on promising development topics for creating new products and businesses.
Based on the NGK Group Vision: Road to 2050, we will work on self-transformation and fulfill our contributions to society while plotting continual growth by creating various kinds of value with our unique ceramic technology at our core.