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    3401   JP3544000007

TEIJIN LIMITED

(3401)
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Teijin : Integrated Report 2021

09/16/2021 | 11:32am EDT

ALWAYS EVOLVING

INTEGRATED REPORT 2021

Year ended March 31, 2021

TEIJINTEIJINLIMITEDLIMITED INTEGRATED INTEGRATREPOREPORTD2021 2021

4 

Corporate Philosophy 

The reason for our existence, our social mission, and management's highest ideals

Quality of Life

The Teijin Group's purpose is to enhance the quality of life through a deep insight into human nature and needs, together with the application of our creative abilities.

In Harmony with Society

Empowering Our People

Code of Conduct

The standard for action that aligns with our corporate philosophy

We-the Teijin Group, including its officers and employees-act according to our ­conscience, with the aim of enhancing the quality of life for all stakeholders.

Together

E nvironment,

Safety & Health

Integrity Joy at Work INnovation

We are united in building shared, sustainable values through mutual respect for our unique differences.

We put the global environment, human safety and health as our top priorities when conducting business.

We act with integrity in compliance with laws and regulations, and show respect for human rights and the local communities in which we operate.

We are committed to building a fulfilling and joyous workplace, where each of us is passionate about our work.

We challenge ourselves for transformation and provide innovative solutions, anticipating the needs of our customers and society.

CONTENTS

2

Executive Summary

Our Value Creation

Our Performance and Strategies

6

CEO Message

14

The Story of the Teijin Group

30

Business Strategy

16

The Teijin Group Going Forward

30

Materials Business Field

18

Value Creation Model

36

Healthcare Business Field

20

The Teijin Group's Materiality

40

Fibers & Products Converting

22

The Long-Cultivated Strengths of

Business

the Teijin Group

41

IT Business

26

CFO Message

42 The Teijin Group's Innovations

45 Promotion of Diversity and Inclusion

47

Initiatives for the Global Environment

Long-Term Vision 

What we aim to be

To Be a Company That Supports the Society of the Future

We aim to achieve our long-term vision of being "a company that supports the society of the future." With the evolution of technology, the society of the future will transform with unprecedented speed. To that end, we will strive to anticipate the needs of our customers and future society and pursue ceaseless evolution toward reaching our ambitious view for the company of the future. As a company that believes in "chemistry that puts humanity first," we will consider how to enrich the lives of people in the future in a manner that goes beyond chemistry based on substances and materials.

In this way, we will provide solutions that contribute to the realization of a sustainable world.

Our Management System

50 Board of Directors, Statutory Auditors, and Other Members of Management

  1. Messages from the Outside Officers
  1. Corporate Governance
    61  Total Risk Management
  1. Efforts toward Respecting Human Rights

Financial, ESG, and Corporate Data

  1. Eleven-YearConsolidated Financial Summary
  1. Consolidated Financial Statements
  1. Independent Assurance Report
  2. SASB Standards Comparative Table
  1. Corporate Data
  2. Editorial Note

About the Photo on the Cover of This Report

Teijin's meta-aramidTeijinconex neo has been adopted for use in the official racing suit of the UK-based Envision Virgin Racing Formula E Team (EVR), which competes in the ABB FIA Formula E World Championship, a formula car racing competition for electric vehicles. The Teijin Group supports EVR as part of its approach to raising awareness of global warming. This approach involves the pursuit of technologies and insight related to the development of lightweight, high-strength components with outstanding design, which are needed in next-generation vehicles, and products that contribute to improving safety.

TEIJIN LIMITED  INTEGRATED REPORT 2021

1 

Executive Summary

In fiscal 2020, the first year of Medium-Term Management Plan 2020-2022: ALWAYS EVOLVING, we continued proac- tive investment activities with the aim of achieving our future vision. We added the "regenerative medical product field" and "diabetes treatment and severity prevention" to our targeted business portfolio for fiscal 2030. Furthermore, we raised our long-term environmental target related to climate change. While we have not revised our financial targets for fiscal 2022, we changed the breakdown of EBITDA by business from our initial breakdown at the time of the plan's formulation. We also expanded the upper limit for capital expenditures and M&As. Going forward, we will steadily execute the medium-term management plan with the aim of creating growth platforms.

Business Portfolio Transformation

EBITDA (Billions of yen)

Strategic Focus businesses

Percentage of EBITDA

Around 15%

from Strategic Focus businesses

¥150.0 billion

Around 5%

130.0

107.2

106.8

60.0

44.6

43.7

67.5

(Outlook)

44.9

31.5

43.5

65.0

(Outlook)

(FY)

2019 (Actual)

2020 (Actual)

2021 (Outlook)

2022 (Target)

Portfolio in Fiscal 2019

MaterialsHealthcare

Composites

Separators/Membranes

IT

Aramid

Pharmaceuticals

Resin and plastic

Home healthcare

processing

Carbon fibers

Fibers & Products

Converting

Strategic Focus Businesses

Profitable Growth Businesses

Previous Medium-Term Management Plan 2017-2019

Medium-Term Management Plan 2020-2022

"Prioritizing Business Areas and Clarifying Challenges"

"Creating Growth Platforms"

Financial Targets of Medium-Term Management Plan 2020-2022

(FY)

2019 (Actual)

2020 (Actual)

2021 (Outlook)

2022 (Target)

ROE

6.3%

-1.7%

8%

10% or more

ROIC (based on operating income)

8.7%

8.6%

7%*

8% or more

* Calculated with the inclusion of a projected increase in investment capital at the beginning of fiscal 2021 due to the transfer of marketing approvals of diabetes drugs

Capital expenditures + M&As

¥233.6billion*

¥450.0billion*

Previous Medium-Term

Medium-Term

Management Plan (Results)

Management Plan 2020-2022

* Includes expenditures, etc., toward associates accounted for using the equity method

* Expanded from an upper limit of ¥350.0 billion set at the time of the plan's formulation

2

TEIJIN LIMITED  INTEGRATED REPORT 2021

Profitable Growth

Strategic Focus

Businesses

Businesses

Strategic Focus

businesses

One-fourth

or more

FY2025

¥200.0billion

Strategic Focus

businesses

One-third

or more

FY2030

¥250.0billion

or more

Materials Healthcare

Materials Healthcare Fibers & Products Converting/IT

Portfolio in Fiscal 2030

Materials

Healthcare

Composites

Functional foods

Carbon fiber

Regenerative medical

Comprehensive

intermediate materials

product field

community-based

for aircraft

healthcare

Orthopedics

IT

Diabetes treatment

New medical

devices

Fibers &

and severity

prevention

Products

Aramid

Converting

Pharmaceuticals

Resin and plastic

Home healthcare

processing

Carbon fibers

Separators/

Membranes

P.47 Initiatives for the Global Environment

Toward 2030

"Contributing to the Realization of a Sustainable World"

Long-Term Goals for Reducing Environmental Impact (vs. Fiscal 2018)

Climate Change

Total emissions

Avoided emissions

Supply chain (upstream) emissions

Group emissions

Suppliers

Group CO2 emissions (Raising of fiscal 2030 target)

Fiscal 2030

Fiscal 2050

30 Net zero

  • reduction emissions

Teijin

Supply chain (upstream) CO2 emissions (Newly set)

Fiscal 2030

15% reduction

(Purchased goods and services

except trading business)

Customers

Avoided CO2 emissions

By fiscal 2030

Total emissions

Avoided

emissions*

  • Calculated as the amount of avoided CO2 emissions that the Company's products have contributed to in the supply chain downstream

Water (Freshwater intake)

Hazardous chemical substances

Resource circulation (Landfill waste)

Fiscal 2030

30% improvement

Fiscal 2030

20% improvement

Fiscal 2030

10% improvement

(Per sales unit)

(Per sales unit)

(Per sales unit)

TEIJIN LIMITED 

INTEGRATED REPORT 2021

3 

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Teijin Limited published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 15:31:05 UTC.


© Publicnow 2021
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Sales 2022 917 B 8 037 M 8 037 M
Net income 2022 36 625 M 321 M 321 M
Net Debt 2022 314 B 2 749 M 2 749 M
P/E ratio 2022 8,33x
Yield 2022 3,46%
Capitalization 305 B 2 670 M 2 673 M
EV / Sales 2022 0,67x
EV / Sales 2023 0,65x
Nbr of Employees 21 090
Free-Float 91,9%
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 1 589,00 JPY
Average target price 1 676,67 JPY
Spread / Average Target 5,52%
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Jun Suzuki President, CEO & Representative Director
Akihisa Nabeshima Chief Financial Officer & Representative Director
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