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Mid-Term Management Plan
Sumitomo Precision Products Group vision for fiscal 2030
The FY2024-2026 Medium-Term Management Plan sets quantitative targets for the state we aim to achieve in FY2030, and then formulates goals and action plans to be achieved in each of the three years of the plan.
Furthermore, the slogan of the previous medium-term management plan (FY2021-FY2023), which aimed for the sustainable development of society and the Group, "Be the first to create the world's Precision products that support a sustainable society," has been redefined as the Group's "Basic Sustainability Management Policy." Based on this basic policy, we will achieve the goals of this medium-term management plan and realize our vision for FY2018 through the value creation process.
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The value creation process in sustainability management
In the value creation process of sustainability management, we have identified "materiality (important issues) A to E" by viewing changes in society and the environment from both the perspective of risks and opportunities for the Group.
For each materiality, we have set medium- to long-term targets that are linked to our vision for fiscal 2030 and this medium-term management plan. The "output" obtained by achieving the medium- to long-term targets will realize the Group's "sustainable growth (creation of value and profits)" and "contribution to society," while further strengthening the "capitals that support value creation."
Through this process, our group will grow together with society and continue to create new value.
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Implementing talent strategies
In this medium-term management plan, we have set out three company-wide strategies as important measures that management will undertake.
First, as part of our human resources strategy, we will categorize the elements of our efforts to "achieve quantitative and qualitative structural changes in our organization (culture) and human resources" into nine categories, and will select and focus on the elements we need to focus on depending on the overall company situation.
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Setting new growth themes
Second, we will explore the future direction that our group should take and implement activities to "set new growth themes" as an activity to create a fourth major business to add to our existing three businesses.
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Company-wide portfolio policy
Third, in formulating this medium-term management plan, we have formulated a company-wide portfolio policy.
In this medium-term management plan, we have classified each business into four quadrants - "Leap," "Challenge," "Growth," and "Rationalization" - based on quantitative criteria such as sales growth rate and operating profit margin, and have clarified expected roles and policies.
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Positioning of FY2024-2026 toward FY2030 / Seven priority areas
To ensure the achievement of this medium-term management plan, we have identified seven "priority areas," including strengthening three existing businesses and creating four growth foundations.
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Financial Planning
As we move forward with the goals of our three business divisions—Aerospace, Industrial Equipment, and ICT—and the actions we take in each, our group's portfolio will undergo significant changes as we move towards 2030.
We will steadily increase sales in the Aerospace & Industrial Equipment Division, which is primarily comprised of stable businesses, while achieving significant growth in the ICT Division, which is comprised of cyclical businesses.
Our group's portfolio strategy is to "stabilize our management base in aerospace and industrial equipment while taking on challenges in ICT."
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