2020, Accelerate Transformation together with Japanese New Era of Reiwa
I would like to wish everyone a happy New Year. I hope that you have had a pleasant New Year's celebration.
To realize “NAMERAKA* society” and become a company achieving further contribution to society, NTN has been accelerating “Transformation.” Under the Medium-term Management Plan “DRIVE NTN100,” we are tackling the three policies: Strengthen core technologies and products, Develop businesses in new areas, and Strengthen management bases that support our business.
1. Strengthen core technologies and products & Develop businesses in new areas
In the aftermarket business, we will expand its supply capacity by strengthening relationships with partners around the world and so on. In addition to sales of bearing products, we are transforming our business from “products” to “service” by providing engineering services utilizing diagnosis and analysis tools for bearings, and enhancing brand reputation.
In the industrial machinery business, we will taking on measures to achieve integration of bearings and sensors, wireless connection, and estimated operating life of bearings by using AI in order to adapt to the big change of industrial structure due to the use of robots to increase efficiency and reduce manpower, as well as 5G.
In the automotive business, we will accelerate expansion of core products with high added-value that contribute to fuel efficiency performance such as the “Low Friction Hub Bearing III” reducing rotational friction by 60% or more compared to conventional products. The business has also been making efforts to put module products for next generation vehicles such as the “sHUB,” a hub bearing with steering assist function into practice.
In the green energy business, we will contribute to respond to climate change as well as preventing and mitigating disasters through sales of original products utilizing renewable energy such as “N3 N-CUBE,” a container type transportable independent power supply.
2. Strengthen management bases that support our business
In order to win the business environment that has been continuing to change and the severe competition, we have been establishing solid management bases. For procurement, we are focusing on variable cost reformations that aim to build a stable procurement network to reduce costs globally. For production, we will move away from self-sufficiency and utilize outsourcing of production. We also have started production reformations with the aims of optimizing the entire Monozukuri process and creating smart factories that use IoT and robots. Furthermore, by utilizing the new core IT system, we will strengthen supply chain management and improve work efficiency.
The industrial structure and foundations surrounding NTN are changing significantly with factors such as the adoption of 5G as well as CASE. Now that the age is facing big changes, NTN will accelerate “Transformation” with our core technologies and carve out a path during this new Reiwa era in Japan with further growth.
I would like to conclude my new year's greeting by offering a prayer for the health of all of you and your families.
Hiroshi Ohkubo
President
Chief Executive Officer
NTN Corporation
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