The Noritz Group is the leading company in Japan for gas and kerosene water heaters, with a 40% market share. We regard it as our group's role in society to make people happy through life with hot water.
Today the group's business is expanding in Japan and other countries, centered primarily on gas water heaters, as we compete in a global business climate subject to dramatic changes.
The social trend that supports this development is environmental and energy conservation aimed at ushering in a low-carbon society. In most countries and regions, at least one water heater per household is in use, and our job is to provide products and services in this area that enable environmental and energy conservation.
Our Opportunity for Growth—Achieving Environmental and Energy Conservation for a Low-Carbon Society
Noritz renewed its ideological position, fully based on the original departure point of the company’s foundation in 2017. This new direction includes the formulation of a clear statement of the Noritz Group Mission and Values. We have been working on our medium-term management plan targeting the years through 2020 under the name of “V-plan 20.”
We are setting our sights on a corporate stance geared for 2020, epitomized by the goals of emerging as a group capable of competing on the global stage and achieving an operating profit ratio of 10%. In order to accomplish this, we aim to implement the priority measures of restructuring our business portfolio, strengthening earning power for our domestic business, achieving continued growth in our overseas business, and enacting reforms in our corporate culture, and by doing so live up to the high expectations of our shareholders.