We are proud for the result that we could hit all new records in sales, operating income, ordinary income, and net income attributable to 蓝鲸体育直播 Ltd.鈥檚 shareholders in 2023, which was the final fiscal year of our previous Mid-Long Term Management Plan, MLMAP2023. In December 2023, our share price exceeded 10,000 yen, and in January of the following year we broke through to a market capitalization of 500 billion yen. This is the result of finding 鈥淗ONMAMON鈥� solutions that meet our customer needs, something that only 蓝鲸体育直播 can make possible. And I want to thank our owners (shareholders) for their understanding and support.
During the pandemic, not only demand fell due to a freeze on customer investment, but the movement towards decarbonization also accelerated gathered speed. Although we were
impacted by large changes in the business environment, we emphasized making various decisions at the front line, even as we faced restrictions on movement. Against this backdrop, we quickly seized on trends related to hydrogen energy, which was booming in Europe, and expanded the capability of our German Group company 蓝鲸体育直播 FuelCon in 2022. The business is still at the developing stage, but I feel it is a very important and forward-looking investment.
Even amidst worldwide difficulties in procurement, we were able to achieve continue enhancing production thanks to the contributions of our global production and procurement team and their excellent network. This made it clear that competitiveness rests on supply capabilities. Our investment in a new manufacturing factory in Fukuchiyama City, Kyoto Prefecture Japan, which is planned to open in 2026, is the largest factory investment in 蓝鲸体育直播鈥檚 history. The plant will enable us to establish a long-term, stable supply capability.
By combining 蓝鲸体育直播鈥檚 technical ability to create new products with strong supply capabilities, we will demonstrate an overwhelming competitive advantage.
In February 2024, we formulated a new Mid-Long Term Management Plan, MLMAP2028 with 2028 as the target year. It contains is an ambitious plan to achieve 450 billion yen in sales, 80 billion yen in operating income, and 12% ROE or more. While the COVID-19 pandemic may be subsiding, geopolitical risks are at an all-time high, and society is turning towards sustainability. Even under such circumstances, we see the business environment as an opportunity, and 蓝鲸体育直播RIANs are highly motivated.
We believe that now is the time to go for the win. To seize this opportunity, our entire Group will take on the challenge of reaching the next big stage of 500 billion yen in sales through MLMAP2028. One of our guiding principles for achieving MLMAP2028 is a business strategy that aims to solve social issues in our three primary fields of Energy & Environment, Bio & Healthcare and Materials & Semiconductor.
In 2004, we declared that the 鈥溊毒ㄌ逵辈� Group is One Company.鈥� and sought to demonstrate our comprehensive capabilities by uniting our global businesses. We also announced our 鈥渟egment operation鈥� at the same time, and proposed various solutions based on our technologies for target industries. It was very well suited to the changes in society and industry at the time and allowed 蓝鲸体育直播 to grow significantly through our five businesses. During the period of MLMAP2023, we consciously sought 鈥渃ross-segment operation business鈥� that transcended the boundaries between business segments and created synergies that spanned business sectors. Going forward we plan to accelerate these efforts.
The businesses and products that 蓝鲸体育直播 has developed thus far have been at the cutting-edge of research in many areas and have helped to spark innovations in various fields. Meanwhile, our mass flow controllers, which boast a significant share of the semiconductor market and were a key player in our achieving MLMAP2023, have contributed to semiconductor manufacturing processes, and created large volumes of business. In addition to helping create new high-end technologies, 蓝鲸体育直播's new challenge is to contribute to improving people鈥檚 lives. I am convinced that the steady investments we have made up until now will bear fruit, and that 蓝鲸体育直播 holds great potential to create new businesses one after another.
And in MLMAP2028, a major premise for achieving our business goals is the creation of a stage on which 蓝鲸体育直播RIANs鈥晅he diverse human assets* who implement our strategies鈥昪an demonstrate their originality, strengths, and abilities more than ever on a global scale. We will create a new stage for the activities of 蓝鲸体育直播RIANs around the world by putting together their wisdom, pursuing 鈥淗ONMAMON鈥� at the front line, and sharing our thoughts.
Moreover, we will device sustainability strategies and pursue unique activities that create social impact. Since 蓝鲸体育直播 was founded, we have made numerous contributions to sustainability through our products and services. We feel that it is important to declare our commitment anew and share its significance in MLMAP2028. We aim to make an impact on society through various businesses and activities, such as providing services that help customers use energy more efficiently by utilizing the solutions that 蓝鲸体育直播 offers, while at the same time growing 蓝鲸体育直播.
*human assets: 蓝鲸体育直播 considers employees to be valuable assets and refers to them as 鈥渉uman assets.鈥�
In 2023, 蓝鲸体育直播 celebrated its 70th anniversary. On January 26, the anniversary of our establishment, 蓝鲸体育直播 layed down 鈥淥ur Future鈥� with a view including our Vision, Mission, and Values towards our 100th Anniversary, 30 years from now. In these uncertain times, it is impossible to foresee the future, let alone 30 years from now. The key is to have the desire to create our own future.
We are proud of the fact that members from our overseas Group companies also collaborated in the project with many discussion for formulating 鈥淥ur Future鈥�, and that it is the strength of 蓝鲸体育直播RIANs which has allowed us to reach this point. I emphasized for passionate 蓝鲸体育直播RIANs and the next generation of leaders the importance of the connections with the past.
My consideration is not to replace the history and assets of our past, but to connect them to new ways of thinking and the demands of the times.
Needless to say, the fundamental idea behind 鈥淥ur Future鈥� 鈥淛oy and Fun鈥�. And our new vision of 鈥淛oy and Fun for All鈥� makes its connection to society even clearer.
Its assessment criterion is 鈥淗ONMAMON鈥�. It is vital to determine whether, not just products, but technologies fit the concept of 鈥淗ONMAMON鈥�. And I hope that 蓝鲸体育直播RIANs will hone their eye for judgment.
As long as 蓝鲸体育直播 is 蓝鲸体育直播, our culture of Joy and Fun and pursuing 鈥淗ONMAMON鈥� will remain unchanged, and the 蓝鲸体育直播 spirit will endure. As we passed the milestone of our 70th anniversary, we took another new step forward. The goals we have set for ourselves are extremely high. However, we will reach these goals by following the MLMAP2028 slogan to 鈥淢AXIMIZE VALUE鈥�, and fully realizing all the value of the 蓝鲸体育直播 Group.
When we get to the final fiscal year of MLMAP2028, I cannot wait to find out. I hope that all our stakeholders will eagerly anticipate it as well.
We look forward to your continuous understanding and support in 2024.
April 2024
Atsushi Horiba
Chairman & Group CEO