CEO M ESSA G E

To Continue to Serve Our
Customers Now and Beyond
A company exists to serve society
Since the world’s first successfulcommercialization of a Fish Finder in1948, we have promoted the revolution ofthe fishing industry.
Immediately after World War II, Japan
faced a situation of food shortage. At thetime, it was common knowledge that“ultrasonic waves do not reflect fish.”
However, inspired by the words of afisherman, “where there are fish, there arebubbles,” we turned that common
knowledge on its head, leading to thepractical application of the Fish Finder.
The revolution of various aspects of thefishing industry not only changed the wayof operation, which had previously reliedsolely on intuition and experience, butalso developed fishing into a majorindustry. This trend became thefoundation for the efficient fishing industryof today.
FURUNO has also developed a fullproduct lineup to solve customers’ issues
and has expanded in the face of changes
in the external environment and fierce
competition from overseas companies.
This was possible thanks to our founder’s
attitude of listening to customers’ voices
and delivering products that make people“happy to sell and happy to buy.” This is02

the starting point of the strength in ourbusiness model.
FURUNO is also proud that “the practicalapplication of the world’s first Fish Finder”
was selected, in 2014, as one of the “100Best Innovations in Postwar Japan.”
Around 2000, we expanded our productlineup to the merchant vessel andpleasure boat markets. Around the sametime, we increased our share in the global
merchant vessel market with the GMDSS
wireless rack system, a mandatory pieceof equipment in accordance withinternational safety standards.
At the same time, China’s shipbuilding
and shipping industries were rapidly
expanding, and we were quick toestablish a subsidiary in China tostrengthen our service quality and salesorganization. These efforts were wellreceived not only by Chinese shipyards
but also by customers around the worldand helped boost our presence in themerchant vessel market.
Our strengths come from comprehensive
product capabilities, service capabilities
to respond to customers at any port, andworldwide customer support.
Today, we offer a wide range of products,from radar for merchant vessels, with a
41% global share, to the Electronic Chart
Display and Information System (ECDIS),

to integrated bridge systems that canhandle one-man bridge operations.
We have also established our own
satellite communication business toprovide comprehensive services from
communication lines to applications andworldwide services.
The vessel environment is changing
rapidly, with needs to remotely monitor
the operational status of equipment onvessels, leading to the “Ship of theFuture” autonomous vessel initiative.
We will continue to be “indispensable” notonly for our customers but also forsociety.

Yukio Furuno
President and CEO03

Mid-term Management Plan for
Future Growth
Review of Phase 1
From FY 2020 to FY 2022, we have been striving toprocure resources and improve our businessstructure. This was greatly affected by the external
environment, including COVID-19 and the worldwide
shortage of semiconductors. Sales activities werelimited due to lockdowns issued in many countries,and production activities were reduced due to the1. A company exists toserve societyManagementPrinciples

are in line with our values inherited since

FURUNO’s Sustainable
Management

FURUNO’s founding, and are consistent with
our vision of society.

2. Its management must be creative

While economic development has madeWe have decided to engage in sustainable

3. The happiness of its employees
comes with the growth of a company

society more convenient, the world ismanagement starting in FY 2023 to continue

becoming unsustainable, especially withto be of service to society for all time.

climate change.

Safe navigation to achieve zero marine

The Sustainable Development Goals (SDGs),

accidents and resource-managed fisheries

adopted by the United Nations in 2015,

to achieve sustainable fisheries andwhich aim to realize a sustainable society,aquaculture are our pillars.

We, FURUNO Group, feel it our role tocontribute to society by creating new values,
which is clearly stipulated in our management
principles, and this is regarded as our focal
value to observe.

global shortage. Despite that, we opened a new

DX Initiatives in the Marine Field

R&D building, “SOUTH WING.” We also promoted
efforts in new business areas, including autonomous

As the work of seafarers is difficult andnavigation support, smart fisheries, and aquaculture

As society becomes more decarbonized, ship

support, as well as the weather and disaster

dangerous, fewer young people aretypes, engines, and fuels are undergoing major

prevention and construction technology businesses.

interested in it. In addition, manpowerchanges in the shipping industry, with the goal of

I want to express my gratitude to all employees

shortages have increased the risk of humanzero emissions by 2050. The ship newbuild market

fighting in this environment.

error in vessel operation.

is also expected to expand again around 2030, as

Vessel navigation is also affected by various

new demand increases in preparation for theconditions at sea. Even experienced

carbon-neutral revolution. The implementation ofoperators have difficulty navigating in badtechnologies such as efficient operation andweather or at night.

automated operations will also begin. We, too, must

Technologies to support ship operations are

make major changes to respond to this new

being developed to eliminate human error

environment.

and improve safety and efficiency. In

Moreover, the drastic decrease in fish catches andaddition, navigation and operations inchanges due to global warming are becoming ahazardous waters can be carried out without

reality. The trend towards managed fisheries willrisk to human life by building an environment

not stop, and the shift to aquaculture will continue.

that allows unmanned ship operation andChange is a great business opportunity, and we will
listen to our customers and provide solutions andinnovations that are useful to society.

Initiatives for Phase 2

On the other hand, we believe that the promotion ofFrom FY 2023 to FY 2025, we will take action

DX is the key to understanding more about what istowards building a more profitable structure.

ActionGuidelines

While looking firmly
ahead to the future andclarifying our ideal and vision,
strive to realize them.

happening in the market. We will promote internal

Strive to be the best

We will promote sales expansion and sustainable

DX to visualize more clearly areas that are notmanagement, while improving profitability.

currently visible, especially the status of

To improve profitability, we will complete the efforts

We seek to achieve the highest level ofquality at all times in all our corporate
activities.

management. In addition, we will promote externalof Phase 1, improving our structure. To expand

DX to provide customers with solutions thatsales, we will provide high-quality services throughcombine hardware and software.

remote management, promote marine digitaltransformation (DX), invest resources in businesses
with growth potential, and measure further resource
generation for investment in growth.

04

Face the future

remote control.
FURUNO is leading the way with its AR
Navigation System, as well as its Unmanned

weBe persistently originalSince the inception of our company,
creativity has been regarded as corecomponent of our identity. We shallfurther strengthen our stance on creativity
in all business segments.

Vessel Operation System, which does not
require a crew member on board. AR
technology will help solve the shortage ofseafarers and enable safer and more efficientnavigation.
FURUNO will continue to contribute to theDX of the marine field.

Be sincere
We engage with society with utmost
sincerity.

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