ANEST IWATA Corporation Integrated Report
2021
ANEST IWATA will continue to be a company that benefits people and people's lives, while diligently upholding the company's founding motto of being "trustworthy and sincere" and strive to deliver the highest level of quality, technologies and services.
ANEST IWATA Corporate Philosophy
■ Corporate Policy
Corporate
Policy
Brand Policy
Group Management Policy
Group Management Vision | "Makotono kokoro" | |
(Trustworthy & Sincere) | ||
Basic Policy on | Group Code | |
Corporate Governance | ||
of Conduct | ||
Basic Investor | Group Guiding | |
Relations Policy | Principles |
CONTENTS
02 | ANEST IWATA At a Glance | The Foundations that Support Value Creation | |
04 | History of Growth | 30 | The Environment |
06 | Value Creation Process | 33 | Human Capital |
08 | Financial and Non-financial Highlights | 37 | Cooperation with the Regional Communities |
09 | Message from the President | 38 | Corporate Governance |
10 | Interview with the President | 43 | Executives |
"ANEST IWATA" In the Eyes of Independent |
- Brand Policy
The following marks represent our corporate brand.
Corporate brand promise
ANEST IWATA is a development-oriented company that is consistently vibrant and equipped with innovative technologies. We will leverage these qualities and continue to contribute to the achievement of a prosperous society that is safe, reliable and capable of sustained growth.
Corporate slogan
Active & Newest Technology
The corporate slogan represents the basic IWATA principles of "useful technology, beloved products and a bond of trust" and complements the company name and corporate brand.
The meaning of the name ANEST IWATA Our founder, Hatsutaro Iwata, taught us to be "Earnest" and "Sincere," as well as to first and foremost be a person and value our humanity over the company. We coined the name "ANEST" to reflect this teaching and our founding principle, "Makotono kokoro" (Trustworthy & Sincere), which is also our corporate motto.
- Group Management Policy
- We will build a true relationship of trust by always thinking from the customers' per- spective and meeting the customers' expec- tations.
- We will maintain a global perspective at all times and strive for research and develop- ment of innovative technologies that antici- pate the changes in the environment.
- We will provide attractive products and ser- vices that meet customer needs with sin- cerity at appropriate levels of quality and at appropriate prices.
- We will establish a lively and inclusive cor- porate culture that values the spirit of chal- lenge, upholds the principles of fairness and equality, and brings out the individuality and capabilities of each employee, as well as a robust corporate structure capable of flexibly withstanding changes, and achieve inner happiness and a prosperous lifestyle.
- All employees of the ANEST IWATA Group shall respect personal and cultural differenc- es, work together with all stakeholders, and establish a corporate culture that maximizes the individual's creativity and teamwork.
- Group Management Vision
To become a company with a 100-year history
- "We will become a vibrant and innovative development-oriented company capable of providing high-performance and high-qual- ity products and services with sincerity from the customers' perspective."
- "We will transition from improvement-based product development focused mainly on cutting costs and internal core technologies to a flexible company capable of steadily tapping into market needs and collaborating with various businesses.
- "All employees of the Group will make a con- certed effort by aiming to become the No.1 in the world, and will strive to become a "True World-class Company" that maximizes cus- tomer satisfaction and continuously creates innovative technology and products.
To become a "True World-class Company" Management slogan
The Group companies will make a concerted effort (ONE ANEST IWATA) to become the Global Number ONE by providing unique (ONLY ONE) products and becoming Number ONE (No.1) in each market.
14 | Toward the sustained creation of corporate value | 44 | Directors | ||
Operating Results, Financial Condition, and | |||||
16 | 45 | Compliance and Risk Management | |||
Future Financial Strategies | |||||
18 | ESG Management and SDGs | Financial / Corporate Information | |||
The Businesses of ANEST IWATA | Summary of Financial Data for Five Years | ||||
47 | |||||
20 | Business Overview Air Energy Division | 48 | Consolidated Financial Statements | ||
54 | Global Network | ||||
24 | Coating Division | ||||
56 | Stock Information | ||||
Quality Assurance and Intellectual Property | |||||
28 | 57 | Corporate Profile | |||
Management | |||||
Editorial Policy
ANEST IWATA has issued its third "Inte- | Period covered by the report | Cautionary note regarding forward-looking statements |
grated Report." | The report, basically, covers the fiscal year | Forward-looking statements contained in this report have |
The "Integrated Report 2021," intend- | 2020 (from April 2020 to March 2021) but | been prepared based on information available at the time |
ed for our stakeholders including our | it also includes reports of activities prior | of publication. |
Various external factors, including the global economy, | ||
shareholders and investors, covers such | to and after this period. | |
fluctuations in exchange rates, market conditions of the in- | ||
topics as the value created by the Com- | ||
dustry and trends in capital expenditures, may impact the | ||
pany, management and financial strat- | Organizations covered | |
Company's business performance. Accordingly, please be | ||
egies, the strengths of our businesses | The report, basically, covers the ANEST | |
advised that actual results may differ from the results con- | ||
and a report of operations, as well as ESG | IWATA Group companies including | |
tained herein. | ||
information including corporate gov- | ANEST IWATA Corporation. | |
The purpose of this report is to provide information to | ||
ernance and initiatives toward human | ||
Date of publication | our shareholders and is not intended as a solicitation or a | |
capital, the regional communities and | recommendation to invest in the Company's shares or to | |
the environment. | November 2021 | buy or sell or trade any other securities. |
ANEST IWATA Integrated Report 2021 01
ANEST IWATA AtaGlance
ANEST IWATA is an industrial machinery manufacturer headquartered in Yokohama City, Kanagawa Prefecture. The Group's businesses consist of the Coating Business, which deals in "coating equipment" and "coating systems" based on its core technology to atomize liquids (mainly paint) into a mist, and the Air Energy Business, which deals in "air compressors" and "vacuum equipment" based on its core technology to compress gases (mainly air). With manufacturing and sales bases in 21 countries and regions worldwide, we contribute to manufacturing around the world by engaging in business activities on a global scale.
Air Energy Division
Percentage of net sales | ||
20,866million yen | 58.6% | |
Air compressors 54.2% | ||
Percentage of operating income | ||
1,821million yen | 52.9% | |
Air compressors | Vacuum equipment | |
Air compressors are machines that compress gases, mainly air. | Vacuum equipment refers to a machine that creates a vacu- | |
They play a vital role in various fields, including serving as a power | um by gas suction and pressure reduction. Vacuum equipment | |
source for machines in factories, controlling the opening/closing | contributes to the development of various industries based on | |
of doors in trains and being used in hospital facilities. | its track record of being adopted in a wide range of fields, from | |
cutting-edge research facilities to automotive and food factories. |
Factories | Trains and buses | General industries | Semiconductor manufacturing | |||
Driving source of air blowers and | Driving source of automatic doors | Suction transport and defoaming | Inspection devices | |||
pneumatic equipment | and brakes |
Medical settings | Foods | Foods | Research facilities | ||||
Driving gas supply to hospital | Generating nitrogen gas for pack- | Vacuum | packing and vacuum | Accelerators and radiation light | |||
rooms and dental implements | aging, etc. | cooking |
Oil-free scroll air compressor | Oil-free scroll vacuum pump |
Consolidated Performance
(Fiscal year ended March 31, 2021) | operating income 3,444 | |||||||||||
net sales | 35,588 | |||||||||||
Consolidated | million yen | Consolidated | million yen | |||||||||
Coating Division | ||||||||||||
Percentage of net sales | ||||||||||||
14,722million yen | 41.4% | |||||||||||
equipment 4.4% Coating equipment 32.3% | Coating systems 9.1% | |||||||||||
Vacuum | ||||||||||||
Percentage of operating income | ||||||||||||
1,623million yen | 47.1% | |||||||||||
Coating equipment | Coating systems | |||||||||||
Coating is applied to various products for the purpose of "im- | With the ability to make proposals by taking advantage of our | |||||||||||
proving the aesthetic appearance" and "protecting the surface," | experience as a leading manufacturer of coating equipment, we | |||||||||||
among others. By utilizing the technology to atomize liquids | design and sell coating lines to provide customers with the fin- | |||||||||||
into a mist, we provide a wide range of products related to coat- | ish tailored to their requests. | |||||||||||
ing and spraying. |
Automobiles | Electrical appliances | Automobile parts | Railway vehicles | |||
Woodwork, metal and plastic products | Arts and hobbies | Woodwork and electrical appliances | Construction machinery and heavy machinery |
Automotive refinishing | Revolving coating robots |
spray guns |
02 | ANEST IWATA Integrated Report 2021 | ANEST IWATA Integrated Report 2021 03 |
HistoryofGrowth
In 1926, the Company was founded under the name, "Iwata Seisakusho," and in 1927 developed the first domestically produced spray gun and next year the air compressor, which would become the driving source of coating equipment. Subsequently, the Company continued to grow along with spray gun and air compressor, and entered the coating system and vacuum pump markets by leveraging its technology for handling liquids and gases. In 1996, on the 70th anniversary of its founding, the Company, in conjunction with management reforms, changed the company name to "ANEST IWATA." Cur- rently, the Group companies are engaged in initiatives to realize the Group Management Vision and are steadily following the path toward becoming "a company with a 100-year history."
1926 | 1930 | 1940 | 1950 | 1960 | 1970 |
FY2020
Consolidated net sales
35,000
million yen
100
周年
1980 | 1990 | 2000 | 2010 | 2020 | 2026 |
1926 | 1957 |
"Iwata Seisakusho," | Established Iwata Air Com- |
the Company's | pressor Mfg. Co., Ltd. |
predecessor, was | 1961 |
established in Toyo- | |
sawa-cho, Shibuya- | Listed its stocks in the Sec- |
ku, Tokyo | |
ond Section of the Tokyo | |
Stock Exchange. | |
Four Iwata brothers including the founder |
1971
Listed its stocks in the First Section of the Tokyo Stock Exchange
1987
Commenced full-scale overseas expansion of manufacturing and sales bases of coating system starting with Taiwan
19962020
Changed company name to | Revised the corporate slogan | |
"ANEST IWATA" | ||
2009
Commenced full-scale overseas expansion of manufacturing and sales bases of air compressors, mainly in China
Coating Division | Coating equipment | Coating systems |
1927 | 1948 |
Commenced manufac- | Released the "Type S |
ture and sales of the first | and B Spray Guns," which |
domestically-produced | were suited for Japanese |
spray gun modeled after | hands, and established its |
an imported spray gun | reputation in the coating |
First domestically-produced spray gun | industry. |
Origins of ANEST IWATA |
1962
Made full-scale entry into the coating system market.
1957
Released the "W-57 Spray gun," and won the support of the automotive coating field.
1985 Developed the world's first electric, multi-articulated coating robot
1990 |
Developed a low-pressure spray |
gun which cleared the Volatile |
Organic Compound (VOC) Emis- |
sion Standards of the state of |
Spray guns
Atomizing paints into a mist with compressed air
"MRP series," multi- | California, USA, which are known |
articulated coating robot | to be the strictest in the world |
Air Energy Division |
"LPS-1 series," low- pressure spray gun
Air compressors | Vacuum equipment |
Compressors
Proprietary development of compressors for spray gun inspection
1928 | air compressors |
"MC series" medium-sized | |
Commenced manufac- | |
ture and sales of small- | |
sized air compressors | Air compressors at the time of founding |
1969
Developed the first domestically-producedtwo-stage,air-cooled,medium-sized air compressors and entered the medium-sized air compressor market.
1977
Entered the rotary air compressor market
Body of oil-free
scroll air compressor
1991
Developed the world's first oil-free scroll air compressor
1993
Developed the world's first oil-free scroll vacuum pump and entered the vacuum pump market
"ISP series," oil-free
scroll vacuum pump
04 | ANEST IWATA Integrated Report 2021 | ANEST IWATA Integrated Report 2021 05 |
Value Creation Process
The Company has been stepping up its mission by diversifying applications and launching customized unique (ONLY ONE) products in markets with the use of its core technologies, i.e., "liquid atomization" and "gas compression." Going forward, the Company, in accordance with the ANEST IWATA Corporate Philosophy, will continue contributing to the achievement of a prosperous society that is safe, reliable, and capable of sustained growth by having each one of our employees act in a "trustworthy and sincere" (Makotono kokoro) way and providing the highest level of quality and technologies as a development-oriented company. Also, by creating value for our various stakeholders through our business activities and reinvesting the acquired resources to reinforce various capital, we will aim to achieve the enhancement of corporate value and sustained growth.
Corporate Policy
"Makotono kokoro" (Trustworthy & Sincere)
ANEST IWATA Corporate Philosophy
The external
environment surrounding the Company
- Intensifying international competition
- Decrease in manpower
- Escalation of climate change and environmental problems
- Growing social demand
- Shift toward new lifestyles
- Increasingly uncertain market environment
- Advancement of digital society
- Risks that may have a signicant impact on the Company's operating results
P.46
Various capital held by the Company
(As of March 31, 2021)
Financial capital
Net assets: 36,133million yen
Shareholders' equity ratio:
65.2%
Manufacturing capital
Capital investments: 1,111million yen Property, plant and equipment: 11,354million yen
Number of factories: 19 factories in 9countries and regions
Human capital
Number of Group employees:
1,748
Ratio of overseas employees:
64.0%
Intellectual capital
Number of Patent applications: over 1,200patents
in Japan and overseas
Research and Development expenses:
1,045million yen
Social and related capital
Number of group companies: 38subsidiaries in
21countries and regions
Natural capital
CO2 emission (non-consolidated)
5,461t-CO2
Business activities and achievements
Core technology
Gas | Air compressor |
Vacuum pump | |
compression | |
equipment | |
P.2 | P.20 |
R&D | Purchasing | Production |
Quality management P.28
Core technology
Liquid | Coating equipment |
atomization | Coating systems |
P.2P.24
applications customized of Expansion | Medium-term |
of | Management Plan |
products | (From FY2019 to FY2021) |
"ONLY ONE" products | |
× | |
"NUMBER ONE" share | |
Sales |
products of applications customized of Expansion
P.14
The value that we create
(As of March 31, 2021)
Creating cash
Consolidated net sales 35,588million yen
Free cash ow 3,535million yen
• Enhancing coordination among Group companies by utilizing ICT tools | Becoming | |||||
Providing products and services that meet the needs | ||||||
and are tailored to the needs of countries and regions | ||||||
• Expanding sales of customized products | a | |||||
• Enhancing overseas sales | 1.0percentage points year-on-year | "True | ||||
Ratio of overseas sales increased | ||||||
in a wide range of elds | World | |||||
Contributing to manufacturing | ||||||
- | ||||||
• Providing industrial machinery playing a vital role in various production factories | class | |||||
Supplying highly reliable products | ||||||
Company" | ||||||
Airbrushes Global market share around | 2 | %* | ||||
• Gaining support from the market | ||||||
Spray guns Domestic market share 70% or more* | ||||||
Global market share ranking | nd* | |||||
Small-sized air compressors | 30 | that | ||||
2 | ||||||
Domestic market share ranking | nd* | tsbene | ||||
Building a safe working environment | ||||||
• Enhancing welfare programs | people | |||||
• Stabilizing employment | 89.7 | |||||
Full-time employees account for | ||||||
% of the workforce | ||||||
• Promoting health and productivity management Recognized as one of the | and | |||||
"White 500" enterprises in the 2021 Certied Health & Productivity | ||||||
Management Outstanding Organizations Recognition Program | ||||||
Enhancing relationships with regional communities | people's | |||||
• Entered into an ocial partnership agreement with a local soccer club | lives | |||||
Contributing to the solution of environmental issues | ||||||
• Developing environmentally-friendly products
• Rectifying environmental problems through the widespread adoption of our environmentally-friendly products 54
Sales of oil-free models account for % of total sales of air compressors
*According to our research
E | Development of environmentally-friendly products | ||
S | Respecting human resources fundamental to the company | ||
and our relationship with society | |||
G | Enhancement of governance structure |
P.30
P.33
P.38
06 | ANEST IWATA Integrated Report 2021 | ANEST IWATA Integrated Report 2021 07 |
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Anest Iwata Corporation published this content on 10 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2021 15:51:06 UTC.