As of December, 2021
MinebeaMitsumi was established in 1951 as Japan's first specialized manufacturer of miniature ball bearings. The Company entered into the field of electronic devices and components, and expanded the scale of its business through business integration with MITSUMI ELECTRIC, U-Shin, and ABLIC as well as through the organic growth. We have since grown to become an "INTEGRATED" precision components manufacturer with a unique business portfolio, unlike any other in the world, encompassing everything from ball bearings to motors, sensors, access products, and semiconductors.
Since my appointment as CEO in 2009, embracing the belief that "sustainability is the essence of management," I have strived to maximize profits while pursuing continuous growth and sustainability, strengthened our risk diversification system, which is multifaceted and includes many areas like business management, human resources, and production.
The MinebeaMitsumi Group took its 70th anniversary as an opportunity to revise the expressions of the corporate philosophy in order to better convey and facilitate understanding of the reason for existence of the Company. Our corporate philosophy now reads: "To contribute to realization of a sustainable, eco-friendly and prosperous society by providing better products, at a faster speed, in larger numbers, at a lower cost and by smarter means."
Sustainability for our Company is all about implementing the corporate philosophy. We believe that fulfilling its social responsibilities to employees, customers, shareholders, local communities and international society based on our company credo "The Five Principles" as our basic management policy which is set for implementing company philosophy, will lead to sustainable improvement of corporate value.
Now more than ever before, companies are being called on to confront environmental and social issues, to bring about a carbon-free society and achieve the Sustainable Development Goals (SDGs). We focus on addressing the green transformation (GX) and diversity as a response to such demands.
We endorsed the recommendations of the Task Force on Climate-related Financial Information Disclosures (TCFD) in 2020 as demand for reduction of CO2 emissions throughout the entire supply chain continues to increase. As such, we established a long-term environmental target of "reducing CO2 emissions by 30% (SBT) compared to the fiscal year ended March 2021 by the fiscal year ending March 2031."
The Company's founding business of ball bearings plays a role in reducing friction and resistance with respect to any mechanical rotation, our strength has always been that of helping our customers achieve smaller, more efficient, and longer-life products. In addition to bearings, nearly all of the Company's products, including motors, sensors and analog semiconductors, are small and precise environmentally friendly solutions which contribute to energy and space saving.
The company contributes to expand "MMI Beyond Zero" which will achieve the reduction of global CO2 emission volume far exceeding our own emissions by providing products equipped with outstanding environmental performance worldwide as well as by working to reduce its own CO2 emissions.
Throughout MinebeaMitsumi's 70-year history, dramatic changes have occurred to products and technologies aligned with demands of specific eras. Meanwhile, the Company has encountered various risks with respect to economic and natural calamities in addition. The Company has repeatedly overcome such difficulties and has grown into a global company with 95 production and development sites and 93 sales offices in 27 countries around the world.
Among Group's total 100 thousand employees, 90% are overseas employees. The Group also empowers many female employees given that women account for 65% of its overall workforce, while 17% of its managers are women.
As a global company, our products, plants and human resources are all diverse. We consider diversity as a source of technological innovation and INTEGRATION. Although we have integrated business with MITSUMI ELECTRIC, U-Shin and ABLIC as previously mentioned, when it comes to employee promotion, we maintain a policy of providing opportunities for career success to our best talent, no matter which Group company an employee hails from, in the spirit of equality. We have accelerated organizational reform in recent years by actively recruiting key talents, including management from outside.
Going forward, we will improve our ability to respond to the changes by actively accepting differences such as nationality, background, age, sexuality and values, connecting diversity to the new value creation.
The Group has contributed to realization of a convenient living and better society with our technological strength and unrivalled supply capability. The Group has a management target of achieving net sales of 2.5 trillion yen and operating income of 250 billion yen by the fiscal year ending March 2029 with the aim of further growth.
As a manufacturer of ultra-precision components, we will strive to construct the system for stable supply by taking advantage of the worldwide manufacturing bases while constructing the safe and secure system for production management in order to fulfill our supply responsibilities to our customers for high quality products.
Toward the Company's 100th year and beyond, we continually strive to be "a company that society cannot do without." To such ends, we will pursue the reduction of environmental impact and sustainability with our ultra-precision machining technology at the core, and strive to achieve our corporate philosophy as well as to expand the corporate value.