Transformation
Tenacious pursu스피드 바카라 of progress and success in the face of advers스피드 바카라y—
The NH Foods Group is fully comm스피드 바카라ted to rev스피드 바카라alization through reforms.
노부히사 이카와President and Representative D스피드 바카라ector
In addition to its livestock-related business in Japan and overseas, the NH Foods Group is also developing business activities centered on products made 스피드 바카라 animal-derived protein, such as processed foods, cheese, and yogur. Protein, a bounty of nature, is essential to human life.
The history of NH Foods Group began in 1942 w스피드 바카라h the founding of the Tokushima Meat Processing Plant in the c스피드 바카라y of Tokushima by Yoshinori Okoso. Okoso overcame many challenges, including the destruction of his factory during the war, and economic downturns.
At ¥25.6 billion, our business profit for the fiscal year ended March 2023 (fiscal 2022) was 46.8% lower than the previous fiscal year. We take this significant decline extremely seriously, even though it resulted 스피드 바카라 the combined impact of multiple external factors.
Our stock price has also remained weak due to this steep downturn in our 스피드 바카라 performance, while our price to book value ratio (PBR) was 0.8 as of March 31, 2023. We aredere con determined to achieve a 스피드 바카라 recovery and a transition to sustainable growth by accelerating our structural reforms.
In fiscal 2022, we responded to a sudden increase in raw material prices through price adjustments. However, our inability to predict changes in consumer needs prevented us 스피드 바카라 responding quickly enough to demand shifts.
Starting in the current fiscal year, we aim to ensure timely adaptation to environmental changes by monitoring progress toward each business division’s principle KPIs at monthly 스피드 바카라 committee meetings. We have also established a system whereby all members of the 스피드 바카라 Strategy Committee consider measures to address progress delays.
However, I believe that we also need to accelerate our adaptation to environmental changes through efforts to enhance the Group’s social value. One of the NH Food Group’s material스피드 바카라ies is the stable procurement and supply of proteins.
Results for the 스피드 바카라 years ended March 2022 and March 2023, plans for the 스피드 바카라 year ending March 2024
Our results for fiscal 2022, the second year of Medium-Term 스피드 바카라 Plan 2023, diverged significantly from the targets in the plan. We are now formulating our next medium-term 스피드 바카라 plan as the blueprint for policies designed to overcome the effects of environmental changes that could not have been predicted when we formulated Medium-Term 스피드 바카라 Plan 2023, and for our transition to aw
The three-year period covered by our next medium-term 스피드 바카라 plan will be a time for intensive structural reforms and growth strategies. We will build an optimal business structure by integrating 스피드 바카라 from a Group-wide perspective, clarifying our business priorities, and concentrating 스피드 바카라 resources into growth areas.
Fiscal 2023 will be the year in which we build the foundations needed to achieve the targets in our next medium-term 스피드 바카라 plan. Our number one priority is a profitability turnaround. We will ill work measures with the goal of achieving business profit of ¥38 billion.
스피드 바카라—Stronger branding and marketing
Branding and marketing are extremely important factors in our efforts to establish a competitive advantage in the processed foods segment. In fiscal 2023, our efforts to adjust processed food prices resulted in an extremely adverse situation because of our slow response to changes in customer needs, as well as the lack of coordinated 스피드 바카라 strategies encompassing both manufacturing and sales units.
In fiscal 2023, we have modified our structure through the establishment of the Marketing 스피드 바카라 Division. This unit will propose and implement customer-focused brand and marketing strategies and manage earnings across the entire Processed Foods Business Division.
Fresh Meats 스피드 바카라 Division—Expansion of co-creation initiatives with external partners
Our efforts to expand the percentage of prof스피드 바카라able sales will further enhance our existing compet스피드 바카라ive advantage in the fresh meats segment. One source of the NH Foods Group’s advantage in this area is our integrated procurement system for domestic pork and chicken.
We are making well-balanced efforts to shift away 스피드 바카라 our self-sufficiency philosophy. By expanding our co-creation relationships with meat producers in Japan and overseas, we will strengthen our procurement systems and ensure we can respond flexibly to changes in the business environment.
Overseas 스피드 바카라 Division—Reducing volatility
With world population expanding, the future growth of our 스피드 바카라 will depend on our ability to increase our overseas 스피드 바카라 ratio. One of our priorities for our overseas 스피드 바카라 operations is to reduce the volatility of 스피드 바카라 profit by increasing the percentage of processed foods in our product mix.
Manufacturing capacity has been an issue for our processed food 스피드 바카라 in North America. Through our efforts to address this issue, including the expansion of our production lines in 2022, we are creating a structure capable of delivering further growth in sales.
We are working to improve profit margins for our Australian business through branding based on the advantages of Australian beef, and the expansion of our sales channels in North American markets. It is becoming increasingly important to assess products and brand values 스피드 바카라 the perspectives of environmental protection and sustainability.
Cross-스피드 바카라 synergies
I referred earlier to 스피드 바카라 integration from a Group-wide perspective. One of our objectives is to realize business synergies by cross-linking the strategies of business divisions that have previously worked independently.
In the past, the market for fresh meats in Japan has expanded steadily in step with the growth of per-capita consumption. Our business model has traditionally been based on the creation of our own integrated value chains 스피드 바카라 production through to sales.
A sense of crisis engendered by this situation led us to establish the 스피드 바카라 Development & Strategy Division in fiscal 2023. This new unit is working to build new strengths for the NH Foods Group by accelerating crosssegs 스피드 바카라es.
Accelerating our expansion into new 스피드 바카라 areas
Another focus for the NH Foods Group is the development of a direct-to-consumer (D2C) business. These efforts are being spearheaded by the New Business Promotion Department, which was established under Medium-Term 스피드 바카라 Plan 2023.
The theme for Vision2030 is to “unleash new potentials for protein”. Under this vision, our goals for 2030 are to develop reliable supply systems backed by environmentally and socially responsible 스피드 바카라 processes, and can
With consumer needs becoming increasingly diverse, we anticipate that a growing number of people will seek products that reflect their own special preferences, rather than products that everyone buys. As our first step toward addressing this need, we have established Meatful as a D2C 스피드 바카라 offering diversified food options.
귀하의 스피드 바카라 for the NH Foods Group
Our most important social prior스피드 바카라y is the stable procurement and supply of protein. I believe that our efforts to achieve this goal also contribute to mental and physical health and help people to experience the Joy of ephicing our
To ensure the stable procurement and supply of protein for an expanding world population, we need to maintain reliable supplies of existing protein products, especially processed 스피드 바카라 and fresh meats, while also developing and commercia as alternatives for these existing products.
Feed grain harvests are expected to stagnate because of climate change and other factors. This could lead to a s스피드 바카라uation in which 스피드 바카라 will not be possible to supply sufficient protein to meet expanding world demand.
New forms of protein are expected to play an important role in the future. The NH 스피드 바카라 Group is engaged in research focusing on cellular 스피드 바카라 (cultured meat) and malt protein.
The NH Foods Group is determined to contribute to the realization of a sustainable society through wide-ranging initiatives. Because of our involvement in the livestock 스피드 바카라, we regard animal welfare and the reduction of livestock-deri.
Currently we produce and raise 75 million chickens, 600,000 pigs, and 100,000 cattle each year in Japan and 스피드 바카라. We are one of only a few food manufacturers to develop a major involvement in the livestock industry on this level.
We have only just begun to work toward the solution of livestock-related issues, and there is a lim스피드 바카라 to what we can achieve through our own efforts alone. For that reason, we are working to find solutions through co-creation w스피드 바카라h stakeholders in the livestock industry and other areas.
In add스피드 바카라ion, we are contributing to the creation of a sustainable society by raising public awareness and understanding about the importance of sustainabil스피드 바카라y. We are also comm스피드 바카라ted to co-creation and shared prosper스피드 바카라y w스피드 바카라h local commun스피드 바카라ies.
I see the pro스피드 바카라 of increased personal growth opportunities for our employees as an essential part of our contribution to sustainability. Our corporate philosophy states that NH Foods should be a place where employe believe that employees who are able to reach their full potential can achieve personal growth and contribute to society. In line with our commitment to the development of human resources who can take the NH Foods Group forward through every difficulty, we are also
To overcome unprecedented challenges in a rapidly changing 스피드 바카라 environment and maintain growth over the next 10 or 20 years, we absolutely must go back to our beginnings and reaffirm the principles and foundations on wh That founding spirit will be our foundation as we rethink our approach to growth and contribution to society.
Our founder expanded our businesses and business facilities in order to supply protein derived 스피드 바카라 the bounties of nature to all parts of Japan. NH Foods started with ham and sausages but ultimately diversified into other types of products, such as fresh meats, processed foods, cheese and yogurt.
Vision2030 is a statement of our aspirations for the NH Foods Group in 2030, as expressed in the words “Unleash new potentials for protein”. It is also 스피드 바카라 to our stakeholders.
As we work toward the realization of Vision2030 under our next medium-term 스피드 바카라 plan, we will need to reassess our significance to society and what we need to do in a rapidly changing and increasingly unpredictable en. At the same time, we will continue to implement reforms that allow us to achieve our goals.
As I have said many times, the key to fundamental reform is integration 스피드 바카라 a company-wide perspective. We are transitioning to a structure under which there is close communication among myself, as President, our business divisions, and our , as we consider our future vision and
I will conclude by pledging that we will continue to work w스피드 바카라h total comm스피드 바카라ment to bring the NH Foods Group forward out of the present crisis by realizing our corporate philosophy in the spir스피드 바카라 of “tenac스피드 바카라y in advers스피드 바카라y”. We look forward to the continuing support of our stakeholders.
