YAMAZEN 2022 Integrated Report
YAMAZEN CORPORATION | This Integrated Report contains forward-looking statements | |
regarding nancial conditions and business performance. | ||
2-3-16 Itachibori, Nishi-ku, Osaka | Description of the forward-looking statements and their | |
underlying assumptions involve uncertainties and certain risks | ||
due to factors including changes in the business environment. | ||
YAMAZEN
2022 Integrated Report
April 1, 2021 - March 31, 2022
Together with our stakeholders around the world, the entire Yamazen Group is Pioneering a new
Purpose
Pioneering a new future, with you all
Nobody knows what the future will hold 100 years from now-that's why Yamazen will keep nding the optimal solutions.
By connecting with the latest business "frontline" information and further rening our "problem-solving skills" and "people skills", we will continue solving new challenges to surpass all barriers.
Not only everyone involved with Yamazen, but also everyone who lives beyond, we have and will continue pioneering a new future, with you all.
Corporate Philosophy
Management of Fostering Personnel
To make active use of personnel, and to foster independent and virtuous employees
Management of Breaking Through
To challenge, innovate and create
Management of Trust
To respond to the needs and expectations of society and contribute to them
future
The Group currently operates under a four-region system that includes Japan, North America, Europe, and Asia. We have 65 ofces in major industrial cities in 15 countries and regions overseas, where we provide services with a community-based sales system and advanced engineering capabilities.
The Group is committed to pioneering a new future with stakeholders around the world by constantly creating new value through our products and ideas.
YAMAZEN
2022 Integrated Report
April 1, 2021 - March 31, 2022
Cover: About "Pioneer"
This comes from one of Takeo Yamamoto's life lessons: "Destiny is something that you pioneer yourself." This spirit of pioneering-along with the capacity to think and act-are legacies of Takeo Yamamoto that are part of the company's essence. They have been passed on to our employees, and form the foundation of Yamazen's growth today.
01 INTEGRATED REPORT 2022
INTEGRATED REPORT 2022 02
CONTENTS
A Value Creation Story
Growth Strategy
Our History: Innovation and Creativity | 05 |
Our Business: Business Developing | |
Through People Challenging Themselves, Thinking, and Acting | 07 |
Issue Awareness and the Process of Value Creation | 09 |
Future World Outlook, Materiality, Vision 2030 | 11 |
Interview with CEO | 13 |
Interview with CFO and President of Corporate Administration H.Q. | 19 |
Green Strategy | 23 |
Accelerating ESG and carbon neutral initiatives | |
Human Resource and Organizational Development Strategies | 27 |
Assembling and training a diverse, Independent and virtuous employees who | |
challenges themselves and thinks while taking action | |
IT (DX) Strategies | 30 |
Aiming to maximize customer value by promoting DX strategies that leverage | |
digital technology | |
Logistics Strategy | 33 |
Aiming to establish the next generation logistics system: Creation of new value in "logistics"
Corporate | Management Team | 51 |
Corporate Governance System | 53 | |
Governance | ||
Interview with Outside Director | 58 | |
Data Section | Most Recent 11 Years of Financial Data | 59 |
Non-nancial Highlights | 61 | |
Consolidated Financial Statements | 63 | |
Organization / List of Overseas Ofces | 66 | |
Domestic Group Companies | 67 | |
Company Overview / Investor Information | 68 | |
Business Portfolio
At a Glance | 35 |
Interview with President of General Sales H.Q. | 37 |
Machine Tools Division H.Q. | 39 |
Industrial Tools & Equipment Division H.Q. | 41 |
Overseas Production Equipment Business | 43 |
Building Materials Division H.Q. | 45 |
Home Products Division H.Q. | 47 |
CROSSING as a Sales Strategy | 49 |
Editorial policy
We are issuing this Integrated Report starting with the FY2022 in order to further deepen our stakeholders' understanding of the corporate value and medium- to long-term growth potential of the Yamazen Group. In compiling the report, we referred to the Value Reporting Foundation (VRF)'s "International Integrated Reporting Framework" and "Guidance for Collaborative Value Creation."
Cautionary note concerning forward-looking statements
This Integrated Report contains forward-looking statements regarding the Company's plans, forecasts, strategies, and performance. They contain judgments made based on the information currently available. Please be aware that actual performance may differ substantially from these projections due to a variety of risks and uncertainties. Factors that may affect future prospects include, but are not limited to, the economic environment in which the Company's business operates, competitive pressure, related laws and regulations, changes regarding product development, and uctuating exchange rates.
Note: The content of this Integrated Report is based on the results of FY2021 (April 1, 2021 to March 31, 2022). However, some information from after April 2022 is also included. Factors that may affect future prospects include, but are not limited to, the economic environment in which the Company's business operates, competitive pressure, related laws and regulations, changes regarding product development, and uctuating exchange rates.
Our website contains a variety of information about the Yamazen Group, including "Sustainability" and "Investor Relations." Please refer to it in conjunction with this report.
https://www.yamazen.co.jp/english/
IRCSR
03 INTEGRATED REPORT 2022 | INTEGRATED REPORT 2022 04 |
A Value Creation Story Our History
Pioneer Innovation and Creativity
1947 | 1954 | 1955 | 1961 | 1962 | 1966 | ||||
Company Established / Building the Foundation | Toward Listing | Growth and Development | |||||||
Yamazen's 75-year history has been one of innovation and creativity, always striving to generate new products and open new markets. Since Takeo Yamamoto founded Yamazen Tool Manufacturing & Sales Co., Ltd. in May 1947, the Company has expanded its areas of business to include cutting tools, machine tools, housing equipment and materials, and home products. Moving forward, we will continue to work with innovation and creativity as a business that responds swiftly to changes in the world while aiming for sustainable growth.
1987 | 1993 | 1994 | 1996 | 1997 | 2005 | ||||
Changing Management | Corporate Renewal | Increasing Social Responsibility | |||||||
After World War , when Osaka was far from | Based on the business philosophy of "You only have | During our 15th year, we became the rst | ||
Ⅱ | a business when you respond to the needs of | company in the cutting tool distribution industry | ||
revitalized and just beginning to recover, rather than | ||||
cutting tools, what it needed most was hand tools like | customers and make them happy," the Company | to be listed on the stock exchange in Japan. We | ||
hammers and shovels. Yamazen Tool Manufacturing | actively took steps to expand the range of products | continued to pursue a multi-location policy, | ||
& Sales Co., Ltd. was established and made its | it offered. The Tokyo Branch was opened in 1957, | opening sales bases not only in major regions | ||
full-scale start in May 1947 with the urgent aim of | followed by branches in Nagoya, Fukuoka, and | throughout Japan, but also overseas, with | ||
selling goods required for the restoration of daily life. | Sapporo. At once, we put a national system in place. | branches in Chicago, London, and Bangkok. |
● When Yamazen Tool Manufacturing | ● Main products when the | ● The new Nagoya Branch building ● The Company's booth at the 3rd | ● When the Chicago Ofce was | ● PR bus advertising housing |
& Sales Co., Ltd. was established | company was founded | Tokyo International Trade Fair | opened | equipment |
Moving towards a new stage in the business, in 1988 | Through reforms such as restructuring the Production | |
we launched "ZEUS PLAN," our long-term | Equipment Division and the establishment of the Overseas | |
management plan. In 1991, we updated the corporate | General Sales H.Q., the Company achieved protability in | |
logo with the introduction of visual identity (VI) and | FY1995 for the rst time in three years. We established a new | |
completed the construction of a new headquarters | "Management Philosophy" and the "Yamazen Employee Code | |
building in Osaka. However, this period was also | of Conduct," with the entire company taking a step forward | |
affected by the collapse of Japan's bubble economy. | and undertaking the challenge of creating a corporate renewal | |
period that would lead the Company into the next generation. |
● Singapore Ofce | ● Completion of new headquarters | ● New Management | ● Shanghai Ofce |
building in Osaka | Philosophy handbook | ||
The Industrial Systems Administrative Division (now the Industrial Tools & Equipment Division H.Q.) established an "Environmental Team" and entered the environmental business in earnest. In 2002, the Company obtained ISO14001 certication for all of its ofces in Japan. With the aim of fullling our corporate social responsibilities and boosting corporate value, we established our "Environmental Policy" and the "Yamazen Group Corporate Activity Charter." These form the foundation of our ESG activities.
1967 | 1974 | 1975 | 1979 | 1980 | 1986 |
Development Takes Off | Hard Times and Rebuilding | Restoring Condence |
20062021
Era of Innovation
2022 -
The capital investment appetite
cooled significantly in the wake of the
The overseas network expands along with the double-digit growth of existing divisions such as machine tools, industrial equipment, tools, and residential equipment. We also entered new business markets such as real estate.
- Tokyo/Osaka Stock Exchange First Section promotion party
● Expanded Osaka Corporate H.Q.
Just as we began aggressively investing in real estate and expanding, the Company was faced with the biggest crisis since its founding, with enormous liabilities due to the oil crisis. Those were the circumstances under which the rst Doterai-Ichi trade show was held in 1975. It went on to play a major role in the Company's rebuilding. Along with this, the Company's three-as-one business model of business partners, manufacturers, and Yamazen was promoted and caught on nationwide.
-
First product ● Second Osaka Doterai-Ichi trade show catalogue for
home appliances
We worked to downsize over-extended areas and return to our core business, with its focus on production equipment and consumer goods. Condence in the business was gradually restored with the generous assistance of major nancial institutions and the understanding and support of suppliers and customers. Sales growth of our core products through the nationwide expansion of Doterai-Ichi trade shows contributed greatly to our rebound, and in 1986 dividend payments were made for the rst time in 11 years.
"State of emergency" issued amid the prolonged recession following the collapse of Japan's bubble economy
We began to rebuild a sound nancial base during this period, divesting of such negative past legacies as idle real estate and unprotable businesses from the excessive business diversication during the high economic growth period and the bubble economy period. We also accelerated our global expansion in support of transferring domestic manufacturing overseas.
- Start of the "Green Ball Project"
Towards a Sustainable Society
We dened our purpose as "Pioneering a new future, with you all" and created CROSSING YAMAZEN 2024, a new medium-term management plan, to help realize it.
Both sales and profit fell significantly due to the Global Financial Crisis that occurred the previous year
241,410 million yen
836 million yen
global COVID-19 pandemic
434,744 million yen
11,234 million yen
Net sales
501,872 million yen
(Millions of yen)
500,000
400,000
Operating profit
(Millions of yen)
15,000
10,000
5,000
0
Net sales (right axis)
Operating prot (left axis)
"State of emergency" issued amid the recession triggered by the oil crisis
91,249 million yen
(1,521) million yen
242,791 million yen
(4,698) million yen
17,133 million yen
300,000
200,000
100,000
(5,000)
Fiscal year 1947
Consolidated
1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989※ 1990 1991 1992 1993 1994 1995
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
0
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
Development Takes Off Hard Times and Rebuilding | Restoring Condence | Changing Management | Corporate Renewal |
※ The closing date of our fiscal year changed from September | |||
20 to March 31 in FY1989. As such, there are two sets of | |||
year-end figures for that fiscal year. | |||
05 INTEGRATED REPORT 2022 | (Left) September 21, 1988 to September 20, 1989 | ||
(Right) September 21, 1989 to March 31, 1990 |
Increasing Social Responsibility | Era of Innovation | |||||||
BT21 Plan | Medium-Term | Vision | Change Value | GVP15 | VISTA-3S | Amazing Act | ONEXT YAMAZEN | CROSSING YAMAZEN |
Management Plan 2003 | 2002 | 100 | 2015 | 2018 | 2021 | |||
Transitional Medium-Term Management Plan
INTEGRATED REPORT 2022 06
A Value Creation Story Our Business
Pioneer | Business Developing Through People |
Challenging Themselves, Thinking, and Acting |
- Sales composition by division
Consumer Goods | Production Equipment | |||||
20.9% | Machine Tools | 28.5% | ||||
Home Products Division H.Q. | ||||||
104,866 million yen | Division H.Q. | 143,157 million yen | ||||
12.4% | FY2021 | |||||
Consolidated Net Sales | Overseas Production | |||||
Materials | 501,872 | Equipment Business | ||||
62,169 million yen | 18.4% | |||||
Building | ||||||
Other | Division H.Q. | million yen | ||||
1.3% | 36.9% | |||||
6,661 million yen | Industrial Tools & Equipment | |||||
Division H.Q. | 185,017 million yen | |||||
- Yamazen Group's global network
Yamazen is a unique specialty trading company that has proved itself both supporting worldwide manufacturing with "Production Equipment" that includes machine tools, cutting tools, and industrial equipment, and contributing to the richness of people's lives with "Consumer Goods" including housing equipment and materials and home products. Combining the knowledge and expertise of our various divisions-including Machine Tools Division H.Q., Industrial Tools & Equipment Division H.Q., Building Materials Division H.Q., and Home Products Division H.Q.-we work to create new value that will drive the development of industrial society.
Production Equipment Business
Machine | By using machine tools in production and processing systems, | Major products | ||
we respond to customer needs that change with the times, and | Include machine tools (machining centers, CNC | |||
Tools | lathes, CNC grinding machines, CNC milling | |||
promote high added-value,proposal-based marketing. We | machines, EDMs, conventional machine tools, 3D | |||
Business | printers), metal forming and plate processing | |||
achieve enhancements in productivity, pursue reductions in | ||||
machines (presses, shirring machines, bending | ||||
costs, and combine peripheral equipment, services and | machines, laser cutting machines), injection molding | |||
machines, die-casting machines, CAD/CAM, | ||||
information to provide support for manufacturing sites, both in | machine tool accessories (industrial robots, | |||
measuring equipment, automation peripheral | ||||
Japan and overseas, that require a high degree of specialization. | ||||
equipment, machine tools accessories) | ||||
Industrial | We offer a broad lineup that includes consumables and incidental equipment, so as to | Major products | ||
Include material handling (distribution equipment), | ||||
Tools & | be able to respond to the highly diversied needs of production sites. In addition, we | mechatronics (mechatronics equipment, robots, | ||
automation software, labor-saving equipment), aids | ||||
Equipment | provide total support for each stage, from the planning and operation of production | for environmental improvement, cutting tools, | ||
auxiliary tools, work tools, electric tools, measuring | ||||
Business | sites, and the creation of environments, including production efciency improvements | equipment, uid devices (compressors / painting | ||
equipment, pumps, blast equipment, uid couplings, | ||||
involving automation and labor-saving initiatives, as well as improving the production | heating / cooling equipment, stirrers / mixers), | |||
industrial equipment (welding / generators, metal | ||||
environment and providing cutting-edge technologies, to BCP countermeasures, in | forming / sheet metal / steel processing machines, | |||
washing machines, safety / hygiene / security), steel | ||||
relation to which we offer proposals as a producer of comprehensive systems. | frame processing machines, facility air conditioning | |||
equipment (air conditioning / HVAC equipment, clean | ||||
room equipment), BCP-related services | ||||
Overseas | We support reciprocal business between Japan and the rest of the world. | Major products | ||
Production | This includes assistance in overseas relocation of Japanese and | Sales and overseas application and technical | ||
services regarding machining centers, CNC lathes, | ||||
Equipment | international companies, international procurement of products, parts and | |||
CNC milling machines, EDMs, 3D printers, injection | ||||
Business | materials, trilateral transactions, total planning of production equipment | molding machines, die-casting machines, machine | ||
tool accessories, NC tooling, auxiliary tools, cutting | ||||
and systems for factories, and consulting regarding international | ||||
tools, measuring instruments, measuring | ||||
transactions. With many years of experience and expertise in overseas | equipment, work tools, material handling, | |||
mechatronics equipment, and aids for | ||||
markets, we aid the development of local communities and industries. | environmental improvement | |||
Consumer Goods Business |
Europe 2 countries 2business locations
Asia
11 countries
and regions 46 business locations
Japan
53 business
locations
North America 1 country 15 business locations
Central and
South America
1 country
2 business
locations
Building | In this business we propose new products and systems that assist in the | Major products | |
Sales and related work and services for kitchen | |||
creation of housing and societies that are kind to both people and the | equipment, cooking equipment, bathroom | ||
Materials | equipment, washbasin equipment, water boiling | ||
environment, and that take into account such issues as the environment, | equipment, sanitary equipment, air-conditioning and | ||
Business | ventilation equipment, solar power generation, | ||
zero-carbon societies, health, and barrier-free living. We have focused on | storage batteries, oor heating, solar thermal water | ||
heating equipment, stored-heat heating systems, | |||
plumbing equipment & materials, interior | |||
Net-Zero Energy Houses (ZEH) and the house remodeling business, as | architectural materials, exterior architectural | ||
materials, nursing care equipment, interiors, window | |||
well as on the non-housing market in recent years, providing optimal | frames, exteriors, foundations, ancillary construction | ||
materials, construction materials, construction | |||
solutions to customers in our role as a high-functionality trading company. | equipment, structural building frames, cutting | ||
tool-related, ofce equipment, home equipment, IoT | |||
equipment, and BCP-related equipment | |||
Home | We combine the trading company functions of retail | Major products | |
Products | distribution and logistics with the manufacturer functions of | Planning, development and sales of products | |
including home appliances (fans / heating | |||
Business | planning and developing original products, handling a wide | equipment / cooking / audio-visual / lighting), | |
indoor furniture, outdoor / leisure goods, kitchen / |
15 | countries and regions | 16 | local companies | 65 | overseas business |
overseas | overseas | locations | |||
domestic | total | |
53 locationsbusiness | 118 locationsbusiness |
lineup of useful products that are familiar to us from daily life. | daily necessities, exteriors, gardening / |
These range from electrical appliances, interior and exterior | agriculture, health equipment, hygiene / |
healthcare, tools, car / motorcycle supplies, and | |
products and leisure products, to disaster prevention goods. | supplies for disaster preparedness |
As of the end of June 2022
07 INTEGRATED REPORT 2022 | INTEGRATED REPORT 2022 08 |
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YAMAZEN Corporation published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2023 08:59:01 UTC.