Medium-term Management Plan

The automotive industry, which Niterra has grown alongside since our origins as the Morimura Group's sparkplug division, is undergoing a profound transformation toward electrification. This new era demands that we also fundamentally reform. Our Mid-term Management Plan outlines the key pillars for this transformation.

The Mid-term Management Plan 2030 is positioned as the final step toward the 2040 Vision.
We will expand priority areas by leveraging our ceramic technologies, building on profit growth in the internal combustion engine (ICE) business.

Narrow down our focus areas for solving social issues and concentrate management resources in "Mobility," "Semiconductors," and "Environment & Energy," where our core assets can be maximized.
Medical business: not defined as a primary focus domain, but rather as a business initiative that utilizes our core assets.

To enhance corporate value, we will pursue the dual drivers of further improving both ROE and PER.

With regard to revenue, we will focus on our ceramics-based domains, and considering the anticipated continued existence of the ICE market, we aim to greatly expand our top line, targeting a 1.5x increase to 1 trillion yen between the fiscal year ended March 2025 and the fiscal year ending March 2030.
Furthermore, our policy is to enhance our earning power through growth investments centered on the Automotive Components*1 and SPE businesses, expanding EBITDA to 285 billion yen, which corresponds to a 1.6x increase.
* This management target includes the plug and exhaust sensor businesses, for which a business transfer agreement was concluded with DENSO in September 2025.
Although clearance from competition authorities has yet to be obtained, these businesses are included under certain assumptions.

• *1: "Internal Combustion Engine (ICE) business" in the long-term management plan
• *2: "Non-ICE business" in the long-term management plan
• *3: EBITDA: Operating income + Depreciation and amortization + Impairment loss
• *4: Operating income and related items are figures calculated based on certain assumptions for purchase price allocation (PPA) of M&A projects and related amortization.
• *5: Includes impact from the partial business acquisition from DENSO.

Cash will be concentrated on our core domains (mobility, semiconductors, environment and energy) to support sustainable growth. In addition to dividends, we will enhance shareholder returns by implementing additional payouts through share buybacks while maintaining financial stability. As a result, we anticipate EBITDA to expand by 1.6 times by 2030.

Please refer to the following presentation materials for the Medium-term Management Plan for the fiscal years ending March 2026 to March 2030.

Medium-term Management Plan 2030 (2.4MB)

Message from the Corporate Strategy Officer