Mid-term Management Plan

• Mid-term Management Plan “HONKI 2013”
• Driving business expansion and new product creation for future growth
• Business Objectives

As we approach our 100th anniversary in 2016, we are moving towards our goal of becoming “a corporation that steadily supplies ‘Only One/Number One’ materials in the global and niche markets.

Mid-term Management Plan “HONKI 2013”

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Driving business expansion and new product creation for future growth

Growth Businesses
(Businesses that will produce results in 2011 – 2013)

Our PrimaryObjective
Establishing ourselves as Number One

Core Business and Strategy

OLED Materials

As a result of our R&D efforts to date, we hope to bring Hole Transport Materials (HTM) and Electron Transport Materials (ETM), both components of OLED displays, to market.
After establishing a local sales affiliate in Korea, we completed the additional acquisition of SFC Co., Ltd. stock, making it a consolidated subsidiary and further adding to the robustness of our organization. With these steps, we will work to aggressively develop business and strengthen customer relations in Asia and other areas, and establish a firm position in the rapidly growing display market.

Imaging Materials

We intend to increase profitability by expanding sales of environmentally friendly Charge Control Agents (CCA) that does not contain heavy metals for toner, and Charge Transport Materials (CTM) for low energy consumption applications. We plan to utilize our colorant technology capabilities to bring a new inkjet dye to market.

Hair Color

We will work to popularize existing blue, red and other products in domestic and overseas markets. In addition, our Dusseldorf, Germany office will promote development in the European market, emphasizing the safety of the products. To expand our product lineup, we will also focus our R&D efforts on the quick development of yellow products.

Cultivation Businesses
(Businesses that will produce results in 2014 – 2016)

Our Primary Objective
Driving the development of
‘Number One/Only One’ materials.

Core Businesses and Strategies

OLED Materials

We are accelerating R&D efforts in the lighting sector, where demand for low energy consumption materials is expected to increase.

Imaging Materials

We are working to establish ourselves as a comprehensive manufacturer/supplier of electrophotography-related materials by expanding business to areas peripheral to our current toner material products.
Additionally, we are accelerating development of colorless CCA materials for color toner, and have set early market entry as one of our objectives.

Polyol Materials(An Ingredient in Polyurethane)

We will work to develop new polyols with special properties such as heat resistance or weather resistance in order to better meet our customers’ needs.

Carbon Nanotubes(CNT)

We will continue to develop new applications and improve safety data to support future sales efforts.

New Product Creation
(Businesses that will produce results in 2017 and beyond)

Our Primary Objective
Accelerating new product development in areas peripheral to existing products, while stepping up exploration for new and next-generation projects.

Priority Planning

As our basic approach to new product creation, we will accelerate new product development with a particular focus on the environment and energy fields. Building on the themes of “Innovation 90”, for “HONKI 2013” we have established a “New Project Exploration Team”. This team will have dedicated members, and will make use of overseas operations and outside information centers, as well as taking part in industry-government-academia collaborations and joint development efforts.

Business Objectives

	FY2013(Plan)
Net Sales	50 billion yen
Operating Income	5 billion yen
Operating Income Margin	10%