Management Concept and Policy
View the management concept and policy of Oiles Corporation.
Basic management policy
The management concept for Oiles Corporation Group is "to become a world leader as a general manufacturer of oil-less bearings and serve society through technology."
This management concept is the foundation of our management style, based on the spirit and aspirations of our establishment to "master core technology such as friction, wear, and lubrication through innovative research and development, deploy this technology globally, and serve society."
Oil-less bearings are self-lubricating, plain bearings. They are used not only in mechanical equipment such as automobiles, information devices, electrical machines, heavy industry/plants, and production equipment, but their use and scope of application also extends to a wide range of industries, including civil engineering and building structures. They help to reduce maintenance, conserve energy, and prevent environmental pollution.
The friction, wear, and lubrication fields of technology are jointly referred to as "tribology." Oiles Corporation Group is constantly introducing new products into the market and increasing our market competitiveness by mastering the tribology and damping (vibration control) categories. We are making every effort to ensure stable profits in any environment and to increase our ongoing business valuation by restructuring the management of the entire group and improving the quality of our management.
Target management indicators
Oiles Corporation Group has prioritized (1) operating profit on sales and (2) return on equity (ROE) as the management indicators that we should be targeting. The target for (1) is the profit made from our primary business and the target for (2) is the profit that should be earned in terms of capital efficiency. These are the indicators that we are using as we forge ahead with our business activities.
We plan to increase the value of the company by increasing both of these indicators, and we are aiming for at least 10% for both the operating profit on sales and the return on equity.
Medium-term and long-term management strategy
In order to realize our management concept "to become a world leader as a general manufacturer of oil-less bearings and serve society through technology," Oiles Corporation Group published the long-term vision "Take the challenge to be a global excellent company" in 2005 as a shared group target, and settled on a business plan that links our medium-term business plan to our annual plan. We have been taking initiatives to achieve these goals.
Our basic policy and approach for achieving our long-term vision is:
(1) To master tribology (friction, wear, and lubrication) and damping (vibration control) technologies
(2) To build a company that can grow in a sustainable way
(3) Establish a global Oiles brand
Since the company was founded, Oiles Corporation Group has built the business around research and development of our core technologies, friction, wear, and lubrication, later adding vibration control, and we have attained a high level of customer satisfaction by introducing innovative products into the market. We continue our commitment to these core competences (our unique technology and capabilities that are the core of our company), while also taking significant leaps forward. Growing our group requires each and every one of our employees to remain motivated in continuing to tackle company reform and actively take initiatives to build an environment that can harness this energy.
Oiles Corporation Group has been driving global growth of our bearings business and striving to increase business with local automobile manufacturers with a focus on Japanese automobile manufacturers. We aim to further increase cooperation between our group of companies in Japan and overseas, further increase business with local automobile manufacturers, commit to improving the infrastructure and equipment of general industrial machinery manufacturers and companies such as power and water treatment companies, strengthen the four-region system between Japan, USA, Europe and Asia, decide on a new global strategy, and establish ourselves as the world leader in the field of oil-less bearings. In addition, we aim to become a “global excellent company” by satisfying our customers with our motto of creating better products, faster by producing Oiles products in the countries and regions where they are needed by our customers.