IBIDEN CO.,LTD. IBIDEN Co., Ltd.
Integrated Report 2023
Year Ended March 31, 2023
Moving on to our
New Stage 115 Plan
Moving on New Stage
MISSION
We contribute to the progression | |
of society through innovative | |
technology, with respect for both | Challenge |
individuals and the global | with |
environment. | Passion |
CONTENTS
Introduction
03 Creating New Value to Forge the Future
IBIDEN Group's Alignment with the SDGs
- Main Businesses and Core Technology
- Global Support Structure
Value Creation
17 Value Creation Story
19 Changes in Business Environment and Medium- to Long-Term Management Strategy
- Message from the President
- Financial Strategy
- Approach to ESG-central Operation and Implementation Framework
- Growth Strategies for Operations
ESG Management
38 Harmony with Nature
- Human Capital Management
- Relationship with the Society
- DX Strategy
48 Supply Chain Management / Quality Management
49 Corporate Governance
- Messages from Outside Directors
- Senior Management and Directors
- Risk Management
- Compliance
Financial and Corporate Data
61 Main Financial and Non-Financial Data
63 Analysis of Our Business Performance and Financial Condition
65 Consolidated Financial Statements
69 Corporate Information / Stock Information
01
IBIDEN Co., Ltd. Integrated Report 2023
to our 115 Plan
Trust
through Integrity
SPIRIT
IBI-TECHNO
Innovation
Notices on Forward-Looking Statements
This report includes forward-looking statements and future plans based on information currently available to IBIDEN Co., Ltd. Statements contain potential risks and uncertainties and may differ from actual business results and future operational developments. Therefore, the accuracy of forward-looking statements and statements on future plans are not guaranteed.
Period Under Review for Reporting April 1, 2022 to March 31, 2023
Some information outside the applicable period is also included.
Scope of Reporting IBIDEN Co., Ltd. and its group companies
As a general rule, this report covers IBIDEN Co., Ltd. and consolidated subsidiaries. Some items individually state the scope of reporting.
Guidelines Used as Reference
Ministry of Economy, Trade and Industry / Guidance for
Integrated Corporate Disclosure and Company-Investor
Dialogues for Collaborative Value Creation
IFRS Foundation / The International FrameworkTask Force on Climate-related Financial
Disclosures (TCFD)
Executive Vice President,
Representative Director
Masahiko Ikuta
Introduction
At the IBIDEN Group, we publish our Integrated Report with the aim of informing shareholders, investors, and other stakeholders about the Group's medium- to long-term initiatives toward value creation.
In this report, we have compiled financial and non-financial information comprehensively with a focus on initiatives to enhance sustainable corporate value, and have summarized our value creation story and specific initiatives to realize our medium- to long-term strategy. Given the achievements and issues of the previous medium-term management plan, this year's integrated report specifically explains the new medium- term management plan formulated in FY2023, including our approach to human capital management, which is one of the reinforcement activities of the new plan strategy.
In preparing the report, all sections of the company work together in good faith, going through deliberation and approval by the Management Council of its contents and subsequent reporting to the Board of Directors.
We will continue to disclose information to our stakeholders timely and appropriately and engage in dialogue with you to facilitate further understanding of the Group.
"Wa"
Teamwork and
Synergy
WEB
Information Disclosure Structure
Investor Relations | |
Financial | https://www.ibiden.com/ir/ |
Information | Securities Report |
https://www.ibiden.co.jp/ir/library/securities/ | |
ESG Information | |
https://www.ibiden.com/esg/ | |
Non- | |
About IBIDEN | |
Financial | |
https://www.ibiden.com/company/ | |
Information | |
Corporate Governance Report | |
https://www.ibiden.com/ir/library/governance/ | |
IBIDEN Co., Ltd. Integrated Report 2023
02
Introduction
Overcame Oil Crisis by Creating
New Businesses
Entered into the electronic circuits business.
Established the first printed substrate plant.
Transformed into a Manufacturing
Company
Through the postwar recovery, expanded | 1974 |
the electric furnace business, which formed | |
the foundation for carbon products. | |
Founded as a Power | |
Generation Company | 1951 |
Established Ibigawa Electric | |
Power Co., Ltd.. |
Appointed Yujiro Tachikawa as the first president.
1912
Past
At a Glance
Net Sales | Ratio of Net Sales |
1995
Diverse Human Resources
Operating Income (Operating
Income to Net Sales Ratio)
300.403 | 417.549 |
billion yen | |
billion yen |
Others | |
18.4% | |
Others | Ceramics |
23.7% Electronics38.5% 21.5% | |
Ceramics | |
37.8% |
Electronics | 16.702 | 72.362 |
60.1% | billion yen | |
billion yen | (17.3%) | |
(5.6%) |
(FY2017) | (FY2017) | See P31-37 Growth | (FY2017) |
Strategies for Operations |
03
IBIDEN Co., Ltd. Integrated Report 2023
Introduction | Value Creation | ESG | Financial and |
Management | Corporate Data |
Electronics Field
120th Future
Anniversary
110th | ||
Anniversary | New Field (GX ) | NEV Field |
Present
green transformation
Businesses and Technology Development to Help Resolve Social Issues
IC Package Substrate for | SiC-DPF for | Slope greenification for environmental |
PC·Data Center | Large Commercial Vehicles | conservation (GT Frame Method®) |
Use of Clean Energy
Higashi-Yokoyama Power Plant | Kinuura Plant |
Hydroelectricity | Water Floating Solar Power Generation |
Capital Expenditures | Number of Employees | GHG Emissions | ||||
131.275 | Overseas | 12,744 | Japan | 666 | 408 | |
22.409 | 51.5% | 48.5% | thousand tons | |||
billion yen | of CO2 | |||||
billion yen | thousand tons | |||||
of CO2 | ||||||
(FY2017) | See P42-45 | (FY2017) | See P38-41 | |||
Human Capital Management | Harmony with Nature |
IBIDEN Co., Ltd. Integrated Report 2023
04
Introduction
SPIRIT
Trust through Integrity
Gaining customer and societal trust through "Genchi Genbutsu.*"
- Genchi Genbutsu: Go and See for yourself to thoroughly understand the situation.
Challenge with
Passion
Anticipating change, and acting boldly to create new value.
"Power to overcome many adversities with all our employees and to continue to exist"
"Wisdom and vitality that have achieved dramatic growth in recent years"
"Wa" Teamwork
and Synergy
Integrating knowledge and wisdom from the employee involvement for greater power.
IBI-TECHNO
Innovation
Evolving by overcoming hurdles through creativity and ingenuity.
"IBI-TECHNO"
The common spirit of all company people, expressing our determination to create new technologies through fusions and composites of our proprietary technologies.
05
IBIDEN Co., Ltd. Integrated Report 2023
Introduction | Value Creation | ESG | Financial and |
Management | Corporate Data |
IBIDEN Group's Alignment with the SDGs
We will tackle social problems faced by our society, with our innovative technologies evolved from and combined with the core technologies of the Group, through responsible corporate activities in harmony with human life and the global environment, thereby contributing to solve issues facing society.
Innovative Technology
Technology
Basic Activity
Respect for Both Individuals and the Global Environment
Contribution through Cultivated
Technological Expertise
As a corporate group oriented toward technology development, IBIDEN Group is dedicated to making contributions to the achievement of the SDGs through its technological expertise, in the environment and other areas. Our primary focus aligns with SDG
- Industry, innovation and infrastructure. In the Electronics Operation, we are
committed to driving global digital innovation by supplying cutting-edge electronic components that enhance access to information and communication technology, ultimately enrich people's lives around the world.
Contribution through Basic Activities
Our mission clearly specifies "with respect for both individuals and the global environment" at the beginning. We energize the workforce that support our business and revitalize our corporate culture. Simultaneously, we are making every effort to minimize the impact on the global environment through our business activities.
We will focus on revitalizing our workforce and corporate culture, which includes promoting diversity and ensuring health and safety, and managing greenhouse gas emissions and waste throughout the supply chain.
IBIDEN Co., Ltd. Integrated Report 2023
06
Introduction
Changes in Creating Value
IBIDEN's technology stems from hydroelectric power generation. The Company has expanded into the electrochemical business with the aim of utilizing electric power efficiently and has incorporated a variety of technologies such as high-temperature sintering technology, chemical synthesis technology, and printed wiring board layering technology. Changes in our technologies have been steadily inherited by the current Electronics Operation and Ceramics Operation.
The Technological Changes
1912-1970
Development as a Materials- centered Company
1912
Fused Magnesium
1 Power Phosphate
Generation
Technology
Ferro-Silicon | ||||
Electric | ||||
Power | ||||
Carbide | ||||
2 | ||||
Electric Furnace | Carbon | |||
Technology | ||||
Lime Nitrogen
Technology Product
1971-19901991-2000
Corporate-restructuring Phase | New Business Generation | |||||||||||||
A Corporate Philosophy to Innovate the Company: | Phase | |||||||||||||
Creating IBI-TECHNO | The Pursuit of IBI-TECHNO | |||||||||||||
Ceramic Fiber | ||||||||||||||
High-Temperature | Substrate Holding Mat | |||||||||||||
Fine Ceramics | ||||||||||||||
Sintering Technology | Semiconductor Ceramics | |||||||||||||
Circuit Fabrication | ||||||||||||||
Graphite | ||||||||||||||
6 | SiC-DPF | |||||||||||||
Technology | Specialty | |||||||||||||
Circuit Design | ||||||||||||||
Technology | ||||||||||||||
Plating | ||||||||||||||
4 | Printed Wiring | |||||||||||||
Technology | Board | |||||||||||||
IC Interconnect | COB | IC Package Substrate | ||||||||||||
Printed Wiring Board | 5 | |||||||||||||
Technology | ||||||||||||||
Layering Technology | ||||||||||||||
Chemical Synthesis | 3 | Melamine | ||||||||||||
Technology | Decorative | |||||||||||||
Laminate | ||||||||||||||
Decorative Laminates Products | ||||||||||||||
Establishment
- Promotion of Regional Economy
Established as a power generation company with the aim of promoting the regional economy through hydroelectric power generation and then transformed into a "manufacturing company" to make effective use of electric power.
Restructuring
- Expectations for New Businesses
During Japan's high economic growth period, we focused on the demand for housing construction and housing materials business grew by applying the technologies cultivated in the melamine operation.
Second Foundation
- Structural Reform
We were among the first to grasp the needs of the digital age, and succeeded in producing printed wiring boards and IC package substrates.
Alloy Steel | Carbon | Chemical | ||||||
1% | 1% | Fertilizer | ||||||
7% Carbon | ||||||||
Carbide | FY1923 | 10% | ||||||
27% | ¥3.07 | Electric | Alloy Steel | |||||
million | Power | 12% | ||||||
51% | ||||||||
Railway | Carbide |
Melamine | Ceramic | ||
5% | Fiber | ||
FY1971 | 4% | ||
Fine | |||
¥13.6 | Ceramics | ||
Housing | 8% | ||
billion | Materials | ||
50% | Carbon · | ||
Graphite |
9%
Carbide | |||||
3% | |||||
Others | |||||
FY1991 | |||||
2% | |||||
¥69.0 | |||||
billion |
HousingElectronics
Materials49
25%%
Nishi-Yokoyama Power Plant | Carbide | Melamine Decorative Lami- | Printed Wiring Board | |||||||
1 | 2 | 3 | 4 | |||||||
(1916-1963) | (1917-1991) | nate | (1972-present) | |||||||
(1960-present) | ||||||||||
1912 | 1925 | 1950 | 1960 | 1970 |
07
IBIDEN Co., Ltd. Integrated Report 2023
Introduction | Value Creation | ESG | Financial and |
Management | Corporate Data |
(billion yen)
400
2001-20222023-
Core-business Nurturing Phase
Entrenchment of IBI-TECHNO
Printed Wiring Board
Memory Module | CSP | |
Moving on to our New Stage 115 Plan
Ceramics
Ceramic Fiber
Substrate Holding Mat
Fine Ceramics
SiC-DPF
Graphite Specialty
Electronics
IC Package Substrate
Housing Materials
Melamine Decorative Laminate Decorative Laminates Products
300
200
Visible Evolution | Moving on to our New Stage 115 Plan | ||||||||
- Expansion Overseas | |||||||||
In Ceramics Operation, we have developed | We will drive its business toward achieving sustainable growth with | ||||||||
products that can contribute to the environment in | the five main reinforcement activities and basic activities as a | ||||||||
the exhaust gas field in response to the growing | manufacturer in response to the changing business environment. | ||||||||
awareness of environmental issues around the | |||||||||
world. | |||||||||
Construction · | |||||||||
Construction | Others | Construction · | Others | ||||||
4% | 7% | 16% | |||||||
Others | |||||||||
Housing | FY2011 | 18% | Electronics | ||||||
Materials | FY2022 | FY2025 (Target) | |||||||
57% | 60% | ||||||||
7% | ¥300.8 | ¥417.5 | |||||||
Electronics | ¥620.0 | ||||||||
Ceramics | billion | billion | Ceramics | ||||||
25% | 16% | billion | |||||||
Ceramics | Electronics | ||||||||
22% | 68% |
Based on disclosed information as of May 2023
IC Package Substrate | SiC-DPF | IC Package Substrate for | SiC-DPF for Heavy | ||
5 | 6 | ||||
(1988-present) | (1999-present) | PC·Data Center | Commercial Vehicles |
100
1980 | 1990 | 2000 | 2010 | 2022 (FY) |
IBIDEN Co., Ltd. Integrated Report 2023
08
Introduction
Performance Highlight
Financial Highlight
Net Sales
417.5 billion yen
(billion yen) | 401.1 | 417.5 | ||||
400 | ||||||
300 | 291.1 | 295.9 | 323.4 | |||
200 | ||||||
100 | ||||||
0 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
Operating Income | Operating Income to |
72.3 billion yen | Net Sales Ratio17.3% |
(billion yen) | (%) | |||||
80 | 70.8 | 72.3 | 25 | |||
20 | ||||||
60 | ||||||
40 | 38.6 | 17.7 | 17.3 | 15 | ||
10 | ||||||
19.6 | 11.9 | |||||
20 | 10.1 | 5 | ||||
6.7 | ||||||
3.5 | ||||||
0 | 0 |
2018 | 2019 | 2020 | 2021 | 2022 | (FY) | |
Operating Income | Operating Income to Net Sales Ratio | |||||
Profit Attributable to Owners of Parent
52.1 billion yen
(billion yen) | ||||||
60 | 52.1 | |||||
40 | 41.2 | |||||
20 | 25.6 | |||||
3.3 | 11.3 | |||||
0 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
Basic Profit Attributable to Owners of Parent Per Share
373.73 yen
(yen) | ||||||
400 | 373.73 | |||||
300 | 295.35 | |||||
200 | 183.94 | |||||
100 | 81.08 | |||||
0 | 23.66 | |||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
Equity Ratio
48.8%
Return on Equity
13.3%
(%) | (%) | ||||||||||||||||||||||||||||||
100 | 15 | 13.3 | |||||||||||||||||||||||||||||
12.1 | |||||||||||||||||||||||||||||||
75 | 64.0 | 51.7 | 54.6 | 54.8 | 48.8 | 10 | 8.8 | ||||||||||||||||||||||||
50 | 4.2 | ||||||||||||||||||||||||||||||
5 | |||||||||||||||||||||||||||||||
25 | |||||||||||||||||||||||||||||||
1.2 | |||||||||||||||||||||||||||||||
0 | 0 | ||||||||||||||||||||||||||||||
2018 | 2019 | 2020 | 2021 | 2022 (FY) | 2018 | 2019 | 2020 | 2021 | 2022 (FY) |
Capital Expenditures
131.2 billion yen
(billion yen) | ||||||
160 | 131.2 | |||||
120 | ||||||
80 | 57.0 | 78.1 | 60.6 | |||
40 | 22.8 | |||||
0 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
Research and Development Costs
19.6 billion yen
(billion yen) | 19.6 | |||||
20 | 16.8 | |||||
15 | 14.7 | 16.2 | 15.7 | |||
10 | ||||||
5 | ||||||
0 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
09
IBIDEN Co., Ltd. Integrated Report 2023
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Ibiden Co. Ltd. published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 08:21:44 UTC.
