JTEKT aims for solution-oriented strategy in mid-term plan

October 1, 2024

On August 27, JTEKT unveiled its three-year mid-term management plan ending in fiscal 2026 at a press conference in Tokyo. In 2021, the company outlined its long-term vision through 2030 in three phases, with the current plan being the second phase. Newly appointed President Yoshihito Kondo, who took office in June of this year, gave a passionate presentation, energetically referring to the materials provided (=photo).

JTEKT has set a specific financial target of achieving a 5.7% increase in sales from fiscal 2023, with a goal of 2 trillion yen by fiscal 2026. The company has emphasized efficient management, including improving various profit margins. A key factor in achieving these goals is shifting to a solutions-oriented business model. In the past, JTEKT operated a “reactive business” model, primarily supplying automotive parts based on customer demand. Now, the company is shifting to a “solution-oriented business” that actively proposes solutions to customer and societal challenges.

President Kondo expressed his ambition: “Each of our businesses has a wealth of competitive underlying technologies. By breaking down the boundaries between divisions and flexibly combining these technologies, we aim to deliver greater value to our customers than ever before.”