3

History of Innovation
Origin of the Company Name

Maximum
CapacityDry Cell
The Company name originates fromthe brand name "Maxell" (Maximum
Capacity Dry Cell = a dry cell with theGo to previous view1963

the time of its foundation.

2018

Commenced production ofalkaline dry batteries

Commercialized data cartridges for computeruse. Entered the professional video tapemarket for broadcasting stations

Developed Air Patch Battery for medical/
healthcare patches

1966

1995

First in JapanFirst in Japan

Commercialized audio cassettetapes

1976

First in Japan

Commercialized floppy disks

1978
Commercialized VHS video cassette tapes

1981
Commercialized coin-type lithium manganesedioxide batteries

1983
Foundation

1961
The dry battery and magnetic tapedivisions were spun off from Nitto
Electric Industrial Co., Ltd. (currentlyNitto Denko Corporation), and establishedas Maxell Electric Industrial Co., Ltd.
Please refer to the following website for the Company’s
history and development.
https://www2.maxell.co.jp/corporate/history.html

Introduction1989

highest performance) created for the drybatteries that constituted its business atMaxell, Ltd. Integrated Report 2022

First in Japan

Commenced production of lithium
thionyl chloride batteries formemory backup

Commercialized opticalmodulation overwrite magnetooptical (MO) discs

1996
Commenced production of lithium-ion batteries

1998

Commercialized head up displays (AR-HUD*2)​First in the world

Commercialized rewritable DVDRAM discs

2004
Commercialized heat-resistant coin-type
lithium manganese dioxide batteries​

2005
Commenced shipments of in-car camera lensunits

Value Creation Process
Key Maxell products that provide value to society

1 The Path to Realizing Our Vision
Materialities / Action Plans / KPIs
Message from the President

First in the world

Developed ceramic-packaged
sulfide-based all-solid-statebatteries that are surfacemountable on boards

Message from the Financial Director
Financial Highlights
Non-Financial Highlights

2 Value Creation Report	Special Feature: All-solid-state batteries and the impact
they will have on society in the 3 focus areas	Value Creation Process by Business Segment, andStrategy Progress Report

2022
Commercialized aerial image display“Advanced Floating Image Display (AFID)”

2023

History of Innovation
Sources of Value Creation

Commenced shipping samples of coin-typeall-solid-state batteries using sulfide-basedsolid electrolytes

2021

Table of Contents and Editorial Policy
At a Glance

2019
First in the world

Maxell Group’s Basic Management Policy		 The Current Status of the Business Portfolio Shift, and the Future		 Energy Segment		 Functional Materials Segment		 Optics & Systems Segment		 Life Solution Segment

First in the world

Commenced shipments of massproduced small-size sulfide-based
all-solid-state batteries

Toward the Creation of New Businesses
Consolidation and Enhancement of Sales ForceIntellectual Property that Supports New and Existing Businesses

3 Management Foundation Enhancement
Creating Human Resources and Organizations that Generate Value

1984
Commercialized 12-inch, write-once-read-many
optical disc cartridges, IC cards and memorycards

1987
Commercialized the world's smallest-diameter
silver oxide battery

Creating Economic Value through Environmental Activities

2008

Reporting Based on TCFD Recommendations

Developed heat-resistant separators that
improve the safety of lithium-ion batteries

Strengthening Group GovernanceCorporate Governance
Board of Directors

2017

Outside Director Roundtable Discussion

Developed “RIC-FOAM ,” a proprietary injection
foam molding technique​*1*1 Resilient & Innovative Cellular Foam

Data Section*2 Augmented Reality Head Up Display

Consolidated Financial Information
Maxell Group Network
Corporate Data / Stock Information / External Recognition

4

History of Innovation

Maxell, Ltd. Integrated Report 2022
Go to previous view

1960s-1980s

1990s-2010s

2020s

Led the way in developing and launchinga succession of consumer products during
Japan’s period of high economic growth,and established development,production, and sales systems
in Japan and overseas.

While supporting the digital society withhighly-functional recording media,
the mainstay of the business wasshifted from consumer products
to industrial components.

Further enhancing value creation
through our unique analog coretechnologies, and contributing toa sustainable society

In 1966, Maxell succeeded in commercializing the first audio cassette

The market for cassette tapes, video tapes, and floppy disks, which

In the 2020s, we are supplying products for the 5G/IoT, healthcare

Materialities / Action Plans / KPIs

tape in Japan. In 1976, we commercialized the first floppy disk

had its heyday in the 1980s, shrank on the one hand, while PCs,and mobility areas that capitalize on the analog technologies that

Message from the President

in Japan, and in 1987, we commercialized the world's smallest-

mobile phones, smartphones and other products rapidly gained

the Company has cultivated, including tape for semiconductor

diameter silver oxide battery. We led the world in creating new value

popularity on the other. Against this backdrop, we shifted themanufacturing processes, highly-reliable coin-type lithium batteries

in these ways. In addition to the "Mixing & Dispersion" technology thatmainstay of our business from consumer products to industrial

for medical applications, and LED headlamp lenses. Alongside this,

we cultivated through the development of dry batteries, our founding

components, while supporting the transformation from the analog

in light of the growing global awareness for a sustainable society, weproduct, we further refined the magnetic powder-coating technology

era to the digital era.

are also focusing on developing and commercializing all-solid-stateIntroduction
Maxell Group’s Basic Management Policy
Table of Contents and Editorial Policy
History of Innovation
At a Glance
Sources of Value Creation
Value Creation Process
Key Maxell products that provide value to society

1 The Path to Realizing Our Vision

batteries, which are being counted on as permanent power sources,

Message from the Financial Director
Financial Highlights
Non-Financial Highlights

2 Value Creation Report	Special Feature: All-solid-state batteries and the impact
they will have on society in the 3 focus areas

and technology for forming housings that we cultivated with our

By applying the technologies that we cultivated in magnetic

cassette tapes, and they are now being used in a variety of products

tapes, we entered the market for data cartridges for computers andand aerial image displays that answer demand for contactlessas our "Fine Coating" technology and "High Precision Molding &professional video tapes, and in 1996, we also started producing

solutions. In June 2023, we commenced mass shipments of all-solid-Forming" technology.

lithium-ion batteries. Furthermore, in 2004, we commercializedstate batteries for FA*1 equipment, and in the future we will offer themFurthermore, we completed construction of a plant and aheat-resistant coin-type lithium manganese dioxide batteries forfor the infrastructure, in-vehicle (back-up power source), and medical		 Functional Materials Segment

technology research laboratory in Kyoto. Overseas, we establishedtire pressure monitoring systems (TPMS) modules, and in 2005, wefields as well, as we continue to respond to the world’s needs with		 Optics & Systems Segment

sales bases in the United States, Germany, and the United Kingdom,commenced shipments of in-car camera lens units, which served

state-of-the-art technologies.		 Life Solution Segment

and production bases in the United States, the United Kingdom, andas the foothold for our automotive channel-oriented business

Malaysia, to build a system for global expansion.

subsequently.

By drawing together synergies with Maxell Frontier, Maxell
Izumi, Maxell Kureha and Ube Maxell Kyoto, which have newly joined
the Group since 2013, and by leveraging our unique analog coretechnologies going forward, we will continue to create new value that
contributes to a sustainable society.
*1 Factory Automation	Value Creation Process by Business Segment, andStrategy Progress Report		 The Current Status of the Business Portfolio Shift, and the Future		 Energy Segment

Toward the Creation of New Businesses
Consolidation and Enhancement of Sales ForceIntellectual Property that Supports New and Existing Businesses

3 Management Foundation Enhancement
Creating Human Resources and Organizations that Generate Value
Creating Economic Value through Environmental Activities
Reporting Based on TCFD Recommendations
Strengthening Group GovernanceCorporate Governance

Audio cassette tapes

Board of Directors
Outside Director Roundtable Discussion

Professional video tapes

Data Section
Consolidated Financial Information
Maxell Group Network

Floppy disks

Lithium-ion batteries

Ceramic-packaged all-solid-state batteries

Corporate Data / Stock Information / External Recognition