he business environment surrounding us is always changing, such as concentration on protectionism in USA, strengthened hegemonism in China and trend of shifting to EV in the automotive industry. Under such circumstances, we have expanded our business by analyzing the geopolitical risks and market trends, to achieve our mid-term business plan.
Last fiscal year we entered into Carbon Nanotube business to expand our business range for the future. We have developed “HEATNEX”, which is an energy-saving-heater that maximises the characteristics of Carbon Nanotube as a heating element. We have expanded this to new markets such as transport and infrastructure.
We have also begun production at our new factories such as Saitama and Queretaro. These sites are making strong advances towards generating profits despite the high initial set up costs.
During this fiscal year, we have plans to start the operations of our new factories in Czech Republic and India. We are also planning to transfer our Vietnam factory to a new factory, which is 4 times larger than the current factory. This will help us to expand capacity and start production of a new, flat spring.
Moreover, we have decided to start the expansion of our Saitama factory earlier than our original plan due a high volume of enquiries.
We have seen sales increase in the automotive, medical and infrastructure markets. In addition to that, there is new trend such as an increase for EV related enquiries.
Also, we have a good outlook on the mass production for probe for inspection equipment used in the precision mechanical equipment field. Sales expansion for standardized products such as Tangless® CoilThread® Inserts and LockOne is expected in infrastructure and aircraft industries.
The slogan for the fiscal year 2018/19 is "Take initiative and action".
It is becoming increasingly important to comply with strict, detailed standards and policies with the globalization of our products. Our core value and culture of “Acting with your own initiative" and "Enjoying your work” remains extremely important as we follow rules and procedures. Pursuing creativity and originality remain integral to the success and growth of Advanex. We continue increasing added value for our stakeholders by taking initiative and action.