Challenge to the future
We would like to express our sincere gratitude to our shareholders for their continued support.
TBK group's corporate commitment is “to produce customer-oriented products and contribute to society." In this time of transformation in the automotive industry, we have formulated VISION 2030*, which sets out our vision for the future as "a company that speedily creates value that matches the times. The 15th Mid-Term Business Plan, which started in April 2022, is the first period of VISION 2030.
In the automotive and construction machinery industries which our group belongs, we expect that technological innovation and increasing environmental awareness will drive market growth, particularly with a shift to EVs and hybrid vehicles. Furthermore, commercial vehicles are expected not only ensure transportation safety, but also to improve efficiency and minimize the burden on the environment.
In this context, in fiscal 2024, the final year of the 15th Mid-Term Business Plan, we will further accelerate the transformation under the slogan "Challenge to the future" in order to implement each of the measures set out in "Corporate Value Improvement Initiatives," "Challenge for New Areas," and "ESG Business Initiatives"
In addition, to strengthen profitability, we carried out an absorption-type merger of a consolidated subsidiary in January 2024. We will consolidate our business resources and create synergy effects. As part of our efforts to "Challenge for new Areas," we are working on development of engine assist systems, thermal management systems, and e-Axles, and other electrified products. We are confident that these will definitely contribute to technological innovation in the automotive and construction machinery industries. Furthermore, we will continue to expand new businesses such as aluminum castings (GDC) and robotics-related businesses.
In order to remain a company that is needed by society, TBK Group will take on new business ventures that go beyond existing frameworks, and will strive to become a leading company in Asia through customer satisfaction and value creation.
We would like to ask for the continued support and encouragement of our shareholders.
*Targets the 15th to 17th Mid-Term Business Plan periods. Click here.