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Press Release

Mid-term Management Plan

Mipox Corporation (hereafter the “Mipox”) announced that Mipox has made a mid-term management plan targeting the three years from FY2019 to FY2021. The details are provided below.

1. Background of formulating a mid-term management plan
For further increase growth and to enhance corporate value, Mipox has established group’s “Mission” and “Vision”. Mipox also has newly formulated management policy with the key word "Engineering."
Mipox's "Engineering" represents the spirit and attitude that keep adding value to society and customers. Mipox will continue to challenge as a professional and change the world by embodying what society and customers want to realize. In addition, Mipox will promote diverse ways of working style that creates added value for customer's success. Mipox aims to achieve sales of 30 billion yen in FY2026, the 100th anniversary of the foundation.

2. Mission
『Changing The World by Our Converting and Polishing Technologies』

3. Vision
『Japanese No.1 Abrasive Manufacturer and Niche Top Converter』

4. Management Policy
(1)Add values to product business with engineering approach
・Develop high-added-value products that support customers' success
・Provide a wide range of products from a solution perspective by cross-selling of Mipox product and Nikken product

(2)Change from OEM business to Engineering Service
・To engineering partner for customers than contractors
・Provide “one stop solutions” that meets what customers want
・More timely service on customer’s demand by increasing manufacturing capacity

(3)Improvement the Management base supporting rapid changes and diversity
・Promoting automation and labor saving by making active use of the Internet of Things and AI
・Further strengthening BCP and internal control
・Promoting work style reform and human resource development with respecting diversity

5. Numeric Target

  FY2019 FY2020 FY2021
Sales 8,400 9,300 11,000
Operating Profit 417 650 990
Operating Profit (%) 5% 7% 9%
(Unit: one million yen)