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Initiatives to Achieve the Medium- to Long-term Management Targets

The Suminoe Textile Group announced “SUMINOE GROUP WAY 2022-2024-2027,” new Medium- to Long-term Management Targets (hereinafter SGW) which came into force in June 2021, in order to move on to the next growth stage, looking ahead to the post COVID-19 era. The SGW has set six-year financial and non-financial targets as well as a three-year consolidated income and expenditure plan. We will strive to steadily gain sound profits while further strengthening ESG management that the Group has promoted so far. In so doing, we aim to be a company that contributes to the realization of a sustainable society by implementing the following initiatives.

Expand sales and build a foundation for the growth.

We will further promote our environmentally friendly technologies that we have accumulated over the years and create technological innovation to reinforce the development of our Group’s proprietary processing technologies and unrivaled products.

Improve financial structure.

We will improve the debt-equity (D/E) ratio by around 0.5 times by the fiscal year ending May 2024 so as to enhance our corporate value.

Create workplaces for employee happiness.

We will develop human resources who can not only accomplish tasks at hand but also achieve reform and personal growth from a broad perspective. At the same time, we will develop a safe and secure work environment and establish a working system that accommodates diverse work styles.

Share the Company’s vision with employees.

To ensure that the entire Group will work toward the same vision, we will facilitate communication between management and employees, aiming to become a more open organization.

Further reduce CO2 emissions.

Our product-related efforts to reduce CO2 emissions include increasing sales of the ECOS® series of recycled carpet tiles produced using horizontal recycling, transitioning from piece-dyed yarn to solution-dyed yarn, and increasing the use of recycled fibers. Also in our business activities, we will contribute to CO2 emissions reduction by improving logistics systems and unifying the production bases.

Enhance Governance.

We aim to be a company trusted in society by further promoting our initiatives and by complying with laws and regulations and corporate ethics.

Although the environment surrounding the Suminoe Textile Group has changed many times, we have grown by responding appropriately to each of these changes. Even during the COVID-19 pandemic, which has caused an uncertain future, we will continue all-out efforts to enhance our corporate value and contribute to the achievement of a sustainable, decarbonized society.

December 2021

Suminoe Textile Co., Ltd.President永田 鉄平Teppei Nagata