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Long-Term Corporate Vision
TORAY VISION 2030
—Achieving sound, sustainable growth and creating social value
Since its foundation, the Toray Group has been driven by its core values of contributing to society through business activities, people-centric management, and management from a long-term perspective. Based on these values, the Toray Group has established the Long-Term Corporate Vision, TORAY VISION 2030 (VISION 2030) with the aim of providing new value to society by focusing on the four perspectives to build the world envisioned by the Toray Group set out in the Toray Group Sustainability Vision. KPIs for fiscal 2030 are milestones for realization of the world as envisioned by the Toray Group in 2050. VISION 2030 will be achieved by pursuing co-creation with the customers and business partners that make up the supply chain, all with a materials-oriented approach. The Toray Group will strive to accurately ascertain changes in industrial trends and to achieve sound, sustainable growth while pursuing business model transformation.
Growth Strategies Based on the Toray Group Sustainability Vision
The Toray Group’s mission is to deliver innovative technologies and advanced materials that provide real solutions to the challenges the world faces in balancing development and sustainability. This is why the Group is expanding its Sustainability Innovation (SI) Business. Through this business, the Group helps solve global environmental, resource and energy issues and helps build a world where people everywhere can enjoy better medical care and hygiene and live long, healthy lives. The Group will expand its business by not only capturing increasing demand but also creating new demand in all segments with a focus on the SI Business.
In creating and expanding into new businesses, the Toray Group aims to generate one trillion yen in sales from all new businesses by 2030 by focusing resources, with an emphasis on both quality and quantity, on large-scale themes that can be expected to form individual business domains in the 2020s and accelerating development and business model construction under the Future TORAY-2020s Project (FT Project).
Toray Group’s Long-Term Strategies
The Toray Group will strive to accurately ascertain changes in industrial trends impacted by aging populations, environmental issues, and technological innovation, and to achieve sound, sustainable growth while pursuing business model transformation.
“Sound, sustainable growth” means facilitating our basic strategy of business expansion by carrying out active investment and maximizing the value we create over the medium to long term across the Toray Group. The key to this is strengthening competitiveness by pursuing continuous business model innovation and total cost reduction and strengthening the management foundation to enable investment in growth driven by efficiently invested capital and financial strength.
Long-term strategies to achieve “sound, sustainable growth”
1. Global expansion in growth business fields
- Expand the SI Business, which helps solve global environmental, resource and energy issues and helps build a world where people everywhere can enjoy better medical care and hygiene and live long, healthy lives
2. Strengthening competitiveness
- Create new value through business advancement and high added value creation, thereby providing solutions with a materials-oriented approach to customers and society
- Pursue dramatic cost reductions by setting challenging targets as well as strive to reduce environmental impact
3. Strengthening the management foundation
- Improve cash flow and capital efficiency, and balance financial soundness and growth investment
- Reform and revitalize the business and organizational structures of low-growth and low-profitability businesses
KPIs for Fiscal 2030
FY 2013 Actual (Baseline) (J-GAAP) |
FY 2030 Target (compared to FY 2013) (IFRS) |
|||
---|---|---|---|---|
Supply of Sustainability Innovation products1 | 562.4 billion yen | 4.5-fold | ||
CO2emissions avoided in value chain2 | 38 million tons | 25-fold | ||
Water filtration throughput contribution by Toray’s water treatment membranes3 | 27.23 million tons/day | 3.5-fold | ||
Greenhouse gas emissions in production activities4 | Per unit of revenue6 across the Toray Group | 337 tons/100 million yen | 50% or more reduction | |
Greenhouse gas emissions of Toray Group in Japan5 | 2.45 million tons | 40% or more reduction | ||
Water usage in production activities | Per unit of revenue6 across the Toray Group | 15,200 tons/100 million yen | 50% or more reduction |
1. | (1) Products that accelerate measures to counter climate change; (2) products that facilitate sustainable, recycling-based use of resources and production; (3) products that help provide clean water and air and reduce environmental impact; and (4) products that help deliver better medical care and hygiene for people worldwide |
2. | Toray calculates the CO2 emissions reduced throughout the value chain of products in accordance with the chemical sector guidelines of the Japan Chemical Industry Association, the International Council of Chemical Associations (ICCA), and the World Business Council for Sustainable Development (WBCSD). |
3. | Water treated annually with Toray water treatment membranes. It is calculated by multiplying the amount of fresh water that the Toray membranes can produce per day, including reverse osmosis (RO), ultrafiltration (UF) and membrane separation bioreactors (MBR), by the number of membrane elements sold. |
4. | With the use of renewable energies and other zero emission power sources rising worldwide, the Toray Group aims to employ zero-emission power sources at a rate equivalent to or better than the targets in each country by fiscal 2030. |
5. | In Japan, Toray works to surpass the reduction target set for the industrial sector by the Japanese government (absolute emissions reduced by 38%) in its comprehensive plan (Cabinet decision on October 22, 2021) based on Japan’s Act on Promotion of Global Warming Countermeasures. |
6. | FY2013 results are based on net sales (J-GAAP) |