The environment of the electronics industry surrounding the Group is going through dramatic changes against the backdrop of rapid technological innovation (launch of 5G services, spread of IoT, shift to CASE in the automotive market, etc.), the rise of Chinese manufacturers, and the rapid expansion of U.S.-based IT platform companies, in addition to changes in growth fields such as the diffusion of remote and on-line access due to the spread of COVID-19 infections and an increase in demand for working from home. The electronics industry is at the center of these trends.
Under these market conditions, the Group has formulated its Medium-term Corporate Strategy "elematec NEXT." The strategy aims to capture new demand and achieve further growth by responding flexibly to changes and continuously creating added value, rather than relying solely on past successes.
In addition to the "on-site capabilities" that has been cultivated over many years by responding to the needs of our customers, we will integrate service functions such as Think (planning and development/design), Network (procurement agency service), Manufacturing (manufacturing services), support (quality and environmental management), and Transport (overseas networking and logistics) to support them, and will promote a business strategy to increase our corporate value as a "integrated service company" to respond to the increasingly diverse needs of our customers.
The Group has long been developing business activities that contribute to the SDGs and ESG initiatives, and in order to ensure sustainable growth of both society and the Group over the medium to long term, we have positioned sustainability initiatives as a key management issue and established the Sustainability Committee and identified materiality. Various issues are being addressed, including the consideration of controlling risk exposure and expanding profit-earning opportunities.
We will assign a working group to the materiality identified and proceed to collect and analyze necessary data on the impact on our business activities and earnings in light of the TCFD framework, etc., and disclose information in accordance with the progress of the working groups.