To Our Shareholders

  • We would like to express our sincere thanks for your loyal patronage.

    The NOK Group has promoted product development based on our accumulated basic research, and also “Essential Core Manufacturing — The manufacture of pivotal products that shape society,” where our high quality and large-scale stable production is a strength. In addition to supporting the safety and comfort that are the foundation of an affluent society and delivering economic benefits to our stakeholders, we are also moving forward so that we can be a company that people take pride in.

    We would appreciate it if you could confirm the business report on the operations and results for the 118th term of the NOK Group (April 1, 2023 to March 31, 2024).

  • To Our Shareholders

This term is the first fiscal year of the three-year Medium-Term Management Plan which ends in fiscal 2025. In this Medium-Term Management Plan, we are engaged in a basic policy of constructing a foundation for transformation in order to achieve continual growth and improvement in corporate value. Through this plan, we will carry out four transformations: “Create new drivers of growth,” “Develop a business operation structure for global growth,” “Construct a foundation for utilizing diverse human capital,” and “Optimum use of management resources.”
In April 2023, we formulated Our Purpose―which expresses the reason for the Company’s existence in society, and Our Values―values that serve as principles and guidelines for employee conduct, by reconsidering our existing Management Policies in light of the current social environment. In April 2024, we also formulated a unified new corporate identity for the NOK Group in order to share a common sense of values as “Global One NOK” and promote global growth.

In the consolidated business results for the fiscal year ended March 31, 2024, net sales were 750,502 million yen (up 5.7% from the previous fiscal year). In profit and loss, operating income was 22,912 million yen (up 49.0% from the previous fiscal year), ordinary income was 40,285 million yen (up 51.7% from the previous fiscal year), and profit attributable to owners of parent was 31,602 million yen (up 137.2% from the previous fiscal year).
Revenue and income were higher than the previous fiscal year, however due to reasons including a failure to achieve profitability in the electronic product business (which was a goal from the beginning of the fiscal year), we will continue enacting measures aimed at strengthening earnings capability and will work to carry out the Medium-Term Management Plan.

For details, please refer to the “Business Report” mentioned below.
We would like to ask a favor of each shareholder to have a deep understanding of the business environment surrounding the NOK Group, management direction and our determination. We also ask you for your further support and cooperation.

June 2024

Masao Tsuru
Representative Director,
Group Chief Executive Officer