TAIYO YUDEN CO., LTD. TAIYO YUDEN CO., LTD.2021
INTEGRATED REPORT
Our Profile
We are a global manufacturer of electronic components that develops and manufactures products indispensable to people's lives.
TAIYO YUDEN develops, manufactures, and sells electronic components for use in a range of electronic equipment that are essential to people's lives, including smartphones and other communication equipment, automobiles, and information infrastructure and industrial equipment. The Company boasts advanced technological capabilities, continuing to produce the world's smallest MLCC, and supplies its products globally.
10% | ||||
24 | ||||
Overseas Sales | % | Sales Composition by | ||
Ratio | 15 | Market Sector | ||
90% | % | Net sales | IT infrastructure/ | |
Industrial | ||||
¥300.9 | equipment | |||
Automotive | ||||
Ratio of Overseas | Communication | |||
equipment | ||||
Production | billion | Information | ||
68 | 19 | equipment | ||
% |
Multilayer ceramic capacitor (MLCC) | Mass production |
Global market share | of the world's smallest MLCC |
No.3 | 0.25×0.125mm |
(As of December 2020 (our estimate))
- Reference: No. of MLCCs used in electronic equipment -
Per smartphone* | Per electric vehicle |
Approx.1,300 Approx.10,000
*High-end model
% | Consumer products |
32%
Sales Composition Ratio by Region
China | Other countries |
andregions |
38% | 52% |
Japan
10%
Operating income
FY2017 | FY2020 |
20.2billion | 40.7billion |
(8.3%) | (13.5%) |
Operating margin is shown in parentheses.
Use of energy
Intensity reduction
Approx. 55%
(Compared to FY2008)
Accident frequency rate*
0.08
*The accident frequency rate is the number of fatalities and injuries caused by work-related accidents per one million actual working hours and represents the frequency of accidents. The average for the Japanese manufacturing industry for FY2019 was 1.20.
Rate of newly recruited
female graduates*
28%
(As of April 1, 2021)
(FY2020)
*Reference: Ratio of female workers to total workers hired by industry: Average 29.6% in the manufacturing industry (Employment Environment and Equal Employment Bureau, Ministry of Health, Labour and Welfare based on Ministry of Health, Labour and Welfare, "Database of Companies Promoting Women's Participation and Advancement in the Workplace")
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Editorial Policy
TAIYO YUDEN has issued this integrated report as a communication tool for its various stakeholders including investors. The report contains information on the Group's financial position and results, management strategies and efforts to address environmental, social and governance (ESG) concerns with the aim of conveying in an easy-to-understand manner how TAIYO YUDEN works diligently to realize sustainable growth and contribution to society. This includes efforts to resolve both customers' and society's issues by delivering various module, software and other comprehensive solutions such as the provision of highly reliable electronic components.
Moving forward, TAIYO YUDEN will continue to sincerely respond to the requests of stakeholders while endeavoring to make its activities better understood.
Section | VALUE CREATION STORY |
1 | |
Since its inception in 1950, TAIYO YUDEN has been engaged in the | |
Electronic Components Business, focusing primarily on capacitors. By con- | |
stantly taking on new challenges and leveraging its long-honed core tech- | |
nologies, the Company has not only made lifestyles more convenient, but |
CONTENTS
2 Our Profile
Section 1
VALUE CREATION STORY
6 Mission, Management Philosophy, Vision
- History of Value Creation
- Business Fields
- Our Goals
- Materiality
16 Medium-term Management Plan 2025 (FY2021-FY2025)
18 Financial and Non-financial Highlights
20 Message from the President
26 Message from the Officer in charge of Finance
Section 2
STRATEGIES FOR THE CREATION OF VALUE
30 Smart Product Development System
32 Market Environment and Business Development
- Value Creation Model
- At a Glance
38 Feature
Addressing Risks in the Supply Chain
40 R&D
43 Human Resources Strategy
Section 3
FOUNDATION UNDERPINNING VALUE CREATION
48 Feature
Striving for Highly Effective Governance
-Roundtable Discussion with the Outside Directors
52 ESG
52 (G) Corporate Governance
60 CSR Management
61 (E) Environment Activities
- Social Activities
Data Section
64 11-year Financial and Non-financial Summary
66 Financial Review
68 Consolidated Financial Statements
76 Notes - Significant accounting policies for preparation of consolidated financial statements
110 Independent Auditor's Report
- Corporate Data
- Stock Information
Scope of Report
This report covers (as of March 31, 2021) 34 companies, comprising TAIYO YUDEN, 11 domestic subsidiaries and 22 overseas subsidiaries.
Reference Guidelines
For editing purposes, reference was made to the International Integrated Reporting Framework recommended by the International Integrated Reporting Council (IIRC) and the Guidance for Collaborative Value Creation provided by the Ministry of Economy, Trade and Industry. For ESG-
related information, we referred to the Ministry of the Environment's Environmental Reporting Guidelines (2012 version). We also used the GRI Standards as a reference guideline.
Our GRI Standard Table can be viewed on our website:
https://www.yuden.co.jp/or/company/sustainability/misc/GRI/
Notes
-
In this report, the fiscal year will be displayed as follows. Example: April 1, 2020 to March 31, 2021
FY 2020 or fiscal year ending March 2021 - The figures in this report omit amounts less than hundred million yen and 1 million yen and displays it.
- The English-language version of this report is based on the Japanese-language version. With the exception of the financial statements, all figures presented have been rounded down to the nearest appropriate unit. As a result, there are cases when a presented figure differs slightly from the equivalent figure in the financial statements.
- Owned by Bluetooth SIG, Inc., the Bluetooth® word mark and logos are being used by TAIYO YUDEN under a licensing agreement.
- The contents of this report are correct as of June 29, 2021.
Disclaimer
This report is intended to provide information about the business performance and strategies of the TAIYO YUDEN Group. It is not intended as an inducement to purchase or sell stock in TAIYO YUDEN. Statements in this report that are not historical fact are forward-looking statements based on the current beliefs, estimates and expectations of TAIYO YUDEN Group management. As
has also contributed to the discovery of solutions to various social issues. |
For details on TAIYO YUDEN's financial and non-financial informa- tion, please visit our website at:
Investor Relations
https://www.yuden.co.jp/or/ir/
Sustainability
https://www.yuden.co.jp/or/company/sustainability/
these beliefs, estimates and expectations are subject to a number of risks, uncertainties and assumptions, actual results may differ materially. TAIYO YUDEN undertakes no obligation to update any forward-looking statements, and shall in no event be liable for any damages arising out of the use or interpretation of this material. Please refrain from copying or disseminating this material without the prior consent of TAIYO YUDEN.
[Source]
As the wellspring of our development and technological capa- bilities, the term "Source" is carved into the cornerstone of our R&D Center. This term encapsulates TAIYO YUDEN's commitment "to contribute to the world and to serve as a wellspring from which world-class technologies and products flow."
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Product commercialization should start from
the development of materials
Founder
Hikohachi Sato
Hikohachi Sato, the founder of TAIYO YUDEN, worked as a researcher in ceramic materials before the second world war. Following the belief that 'product commercialization should start from the development of materials,' Mr. Sato launched TAIYO YUDEN to develop and commercialize titanium-oxide porcelain capacitors in 1950.
He also believed that affection for others was the most valuable thing a person could have. The Company's management philosophy has three major components, all of which are designed to improve the social nature of the Company and contribute to cultural development by creating an environment in which employees and their families can live their lives in happiness and prosperity.
The beliefs and philosophy of Mr. Sato live on as the underlying spirit of TAIYO YUDEN.
Rutilcon, barium titanate tubular
ceramic capacitors
Section 1 VALUE CREATION STORY
Mission
Stronger and more socially aware through the wonders of science
Management Philosophy
Employee well-being
Betterment of local communities
Responsibility to provide returns to shareholders
Vision
To be an excellent company that enjoys the trust
and highest regard from all stakeholders
Smart products
Smart design
High quality | Low power | Downsizing | Abolishing | ||
use of toxic | |||||
consumption | |||||
substances | |||||
Smart production processes | |||||
Following | More | Reuse and | Minimizing | ||
Safety first | efficient use | 100% yields | |||
rules | recycle | emissions | |||
of energy | |||||
Systems | |||||
OHSMS | ISO9001 | IATF16949 | ISO14001 |
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History of Value Creation
Section 1 VALUE CREATION STORY
Changing with the times, we have continuously met the needs of society for 70 years
TAIYO YUDEN has since its founding provided to companies around the world a variety of electronics components, including communication devices and inductors, with a focus in particular on multilayer ceramic capacitors, the Company's mainstay product. This in turn has served to meet the needs of society while creating value.
1980s
Portable CD players, car phones and other devices make their appearance
-2010
Increased use of home video games, mobile phones, PCs and other devices
IT-related product demand rises while international specialization advances
2011-
Use of smartphones and tablets surges while trend toward the electrification of automobiles accelerates
Smartphones, tablets and other devices become more functional, compact and lightweight
(Billions of yen) | |
FY2020 Net Sales of | 350.0 |
¥300.9 billion
1950s
Transistor radios make their appearance
1960s
Production of TVs, transistor radios and other items expands as export products
1970s
Increased use of home-use video tape recorders (VTR), audio equipment and other items
Energy conservation,
Electronic devices become increasingly compact and lightweight
300.0
250.0
200.0
150.0
Increased use of radios, TVs and other electronic equipment
Overseas demand rises
power saving
Overseas Sales Ratio
100.0
FY2000
FY2010
FY2020 | 50.0 |
Net Sales
Founding
1950 | 1960 | 1970 | 1980 |
The Value Provided by TAIYO YUDEN
62.0
%
19902000
77.1
%
2010
90.3 |
% |
0 |
2020
Sept. 1950
Sales of Rutilcon, barium titanate tubular ceramic capacitors, began
Sept. 1954
Production of Ferrit Cores, small ferrite cores, began
Sept. 1964
Established the technical research laboratory
May 1967
Established our first overseas subsidiary TAIWAN TAIYO YUDEN CO., LTD. in Taipei
TAIWAN TAIYO YUDEN at the time of establishment
Mar. 1970
Listed on the Second Section of the Tokyo Stock Exchange. In 1973, moved to the First Section
July 1976
The world's first commercialization of axial leaded ceramic capacitors began
Oct. 1977
July 1984
The world's first commercialization of nickel electrode high-capacitance multilayer ceramic capacitors began
[3216] type and [3225] type
Sept. 1988
Announced the release of the world's first recordable CD-R compact disks
1999-2000
Established four production bases abroad simultaneously
TAIYO YUDEN (SARAWAK)
Apr. 2001
Acquired the world's first Bluetooth® standard version 1.1 qualification for Bluetooth® full modules
Apr. 2018
ELNA CO., LTD. became a subsidiary
May 2018
Commercialized the world's first multilayer ceramic capacitors with a capacitance of 1,000μF
4532 size (4.5mm×3.2mm) with 1,000μF capacitance
Mar. 2020
Developed world's first tubular chip type ceramic capacitors
Mar. 2010
TAIYO YUDEN Mobile Technology Co., Ltd. became a subsidiary
The world's first commercialization of automotive multilayer metal power inductors
DVD-R,BD-R,CD-R
Metal multilayer chip power inductor "MCOILTM MC Series"
(1.6mm×0.8mm×1.0mm, 0.47μH)
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Taiyo Yuden Co. Ltd. published this content on 29 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 04:17:09 UTC.
