Company

President & CEO & COO 
Tomio Miyazaki

The societal economy looks bright in many ways, from the recovery of inbound tourism to Japan to the Nikkei Stock Average reaching record highs. On the other hand, the world is experiencing protracted conflicts overseas, such as the wars in Ukraine and the Middle East, and we also face challenges in Japan that include rising prices and chronic labor shortages. As such, the environment in which T.RAD finds itself remains uncertain, both in Japan and around the world.

Within this operating environment, our medium-term management plan “T.RAD 12” puts forth our goal of stronger returns to our shareholders via an ROE of 10.0% and improved corporate value. Now, as we reach the midpoint of our medium-term management plan in its third year, we are taking more concrete steps towards achieving this goal. These include changing our shareholder returns policy to DOE, as well as updating our medium-term management plan to reflect a path towards the ideal state of our balance sheet, a concept for capital allocation, and profitability improvements. Together with our commitment to capital efficiency and improvements in profitability, we are directing our efforts into achieving an ROE that exceeds shareholder equity costs and a PBR of 1.0.

Based on our accumulated technologies and expertise that can be attributed to our history as a manufacturing company, we will contribute to the realization of an ecologically friendly and sustainable society. We will do this by improving our productivity and efficiency through the application of information technology and by providing heat exchangers to a diverse collection of power plants across the globe.

Furthermore, at T.RAD, we must be a company that does not simply develop and manufacture heat exchangers, but also one that applies the heat-exchanger technologies we have accumulated since our founding to advance R&D initiatives for new thermal energy solutions that make use of waste heat. Such initiatives include those related to natural thermal energy and facilities.

Thank you for your support, now and in the future.