OSG is the world's largest manufacturer of round cutting tools, with a vast product offering including its world-renowned taps, end mills, drills and rolling dies. Cutting tools are the backbones of the manufacturing industry, supporting the production of a variety of industrial products that are essential to the well being of society.
"Shaping your dreams" is OSG's corporate slogan and commitment to transforming each and every one of our customers' ideas into reality. With this mission in mind, it is our promise to deliver products and services with complete customer satisfaction and to continue to contribute to the advancement of the manufacturing industry.
FY2021 Financial Summary & Future Growth Strategy
During the fiscal year ending November 30, 2021, the global economy gradually began to recover from the global pandemic of COVID-19, but the situation remains unpredictable due to the prevalence of a new variant of coronavirus. In addition, shortage of parts due to lower capacity utilization of parts manufacturers and soaring costs of raw materials and transportation became a problem in various industries. For the OSG group, business performance has been on a recovery track since the second half of the previous fiscal year, and this trend has continued in the current fiscal year, although the strength of our performance varies by region. On the other hand, the yen has depreciated against the U.S. dollar, the euro, and the Chinese Yuan compared to the previous fiscal year. Amid these environments, fiscal 2021 net sales recorded 126.1 billion yen (increase by 20.9 percent versus the previous year), operating profit was 16.1 billion yen (increase by 91.8 percent versus previous year), ordinary income was 16.1 billion yen (increase by 80.3 percent versus previous year), net income attributable to shareholders of the parent company was 10.9 billion yen (increase by 94.9 percent versus previous year). In addition, the overseas sales ratio was 61.8 percent (versus 59.4 percent in the previous year).
In January 2022, we announced our new medium-term management plan, "Beyond the Limit 2024. The phrase "Beyond the Limit" expresses our determination to "Go beyond the limits, set no limits, break out of our shells, and break out of the norm". In our long-term vision, which covers the period up to the fiscal year ending November 30, 2030, as an essential player contributing to the global manufacturing industry, we aim to build a solid corporate structure that can cope with any changes, looking ahead to 2030, when we will make a full-scale transition to the carbon-neutral era. We will continue to contribute to the realization of a sustainable society under the Corporate Principle "Global Presence" to achieve further growth in a VUCA* world with many uncertainties..
The fiscal 2022 is the start of our new medium-term management plan, "Beyond the Limit 2024". We are aiming towards "creating the future of OSG by ourselves", the entire OSG Group will work together to establish a brand that can be trusted by our stakeholders and to work toward sustainable enhancement of corporate value. I would like to express my deepest appreciation to our shareholders and stakeholders. Please look forward to OSG achieving sustainable growth and creating new values for building resilience to help the company thrive in this era of change.
*VUCA is an acronym for volatility, uncertainty, complexity and ambiguity.