1-1-1 Shiohama, Kawasaki-ku, Kawasaki-shi, Kanagawa 210-8512, Japan
Tel: +81-(0)44-266-2581 Fax: +81-(0)44-276-3934 https://www.presskogyo.co.jp/en/
20Inte2grated 5Report
Toward Creation.
M
V
Beyond Manufacturing.We manufacture
essential parts for cars and machines.
We create
a new scene of more comfortable and safer transportation and work.
Our self-belief gives us confidence and pride.
Beyond manufacturing.
ISION
V
ISSION
What We Strive to Be
With pride and self-belief, we will continue to grow together with our stakeholders as a positive presence in our society.
Press Kogyo Group
has the full range of capabilities for automotive and construction/industrial machinery parts, from development/design, analysis, experiments, manufacturing, and quality assurance to design/manufacturing of dies, jigs and equipment. We continue to look toward the future and will grow with confidence and pride. This spirit comes from our history of overcoming challenges and from the refinement of our expertise to better serve society.
Promise to Society and Reason for Being
Through empathy and harmony with society, our "Monozukuri" (manufacturing) will continue to be a force that better serves people, automobiles and machines.
Toward creation.
We are Press Kogyo.
ALUES
Values
Codes of conduct for realizing our vision and mission
Safety, security and compliance
Safety, security and compliance form the basis of our actions. We uphold these values honorably and responsibly for all of our stakeholders.
Integrity and effort
People are the foundation of our business.
Our greatest fundamental and most important belief is trust which is gained through integrity and persistent effort.
Power to carry through
We act upon and accomplish our goals with a commitment to make it happen.
Creativity
We question the status quo with curiosity and a will to find and try new solutions. We enjoy the journey of creating the future.
Diversity
We honor and embrace the uniqueness of everyone's ideas and thoughts, and collaborate together.
Contents
Chapter
01
Cover Story
01 Slogan / VMV
03 Message from the CEO 07 History of Growth and
Development
09 100th Anniversary Initiatives
11 At a Glance
15 Value Creation Process
17 Materiality
Chapter
02
Growth Strategy for Value Creation
19 Medium-Term Business Plan
21 Engineering & Development, Manufacturing and Business Strategies
25 Strategies by Region
31 Message from the CFO
Chapter
03
Sustainability Initiatives
35 Message from the Director in Charge of Sustainability
37 External Directors Roundtable Discussion
41 Strengthening Corporate Governance
51 Diversity and Revitalization of Human Capital
57 Contribution to the Global Environment and Society
63 The Quality Growth of the Group
Chapter
04
Financial Data/ Company Information
65 Consolidated Financial Summary
66 Company Data
Editorial Policy
The PRESS KOGYO Integrated Report 2025 presents financial and non-financial information in an integrated manner, including the Company's management strategy, business, technology, production, and sustainability, showing a process toward achieving the Group's goals and aspirations. This year's report features extensive interviews with broad members of the Company's management team. Through these diverse perspectives, it illustrates the initiatives and progress toward achieving our vision, as well as our current thinking. It spells out the direction in which the Group will head, based on the values it has embraced to date and the values it will adopt anew. Through publishing the Integrated Report, we will continue to deepen our dialogue with stakeholders and move forward step by step.
The documents we referred to in preparing this report include the International Integrated Reporting Framework of the IFRS Foundation and the Guidance for Collaborative Value Creation of the Ministry of Economy, Trade and Industry.
About the Cover
Press Kogyo is supported by a variety of people. A diverse team of employees, including many young people who will shape our future, bring their talents to the front lines of our manufacturing operations every day. People are the engine that powers Press Kogyo. The cover photo features the serious gazes of our people who we expect will lead the next 100 years.
Scope of Reporting
PRESS KOGYO CO., LTD. and its 18 consolidated subsidiaries.
Some content is in respect of PRESS KOGYO CO., LTD. only (non-consolidated).
Reporting Period
FY2024 (from April 1, 2024 to March 31, 2025)
*Some activities in and after FY2025 are also included.
01 PRESS KOGYO Integrated Report 2025 02
Chapter 01／ Cover Story
01 Cover Story
Message from the CEO
02 Growth Strategy for Value Creation
Representative Director, President & CEO
04 Financial Data / Company Information
Yuki Shimizu
Status of Economic and Social Value Creation in FY2024
For FY2024, sales and profit declined compared with the previous year because of factors including a steeper-than-expected downturn in key markets (details
U.S. customers, along with declining demand in Thailand, despite domestic demand remaining relatively firm. Furthermore, in the Construction Machinery-Related Business, we failed to reach profitability, as the recovery in the Chinese market is not yet
full-fledged.
While reduced demand significantly impacted performance, we feel confident that the Company's sustainability management initiatives have advanced to a higher level. From a long-term perspective, the Group has identified four materialities based on its vision, mission, and values. We have established 21 action items aimed at achieving the ideal state for each materiality. We have formed a management structure that translates these principles into concrete measures, cascading them down from the medium-term business plan to annual policies and plans, and subsequent progress management and follow-up. Amidst such circumstances, we have established new KPIs for each materiality and introduced non-financial KPIs as evaluation metrics for performance-based compensation. While slightly more progress has been made with some initiatives than with others, each is advancing essentially as planned. With the introduction of these new designs, we will further accelerate our sustainability initiatives while maintaining a heightened awareness of our social responsibilities.
Reflections on FY2024, My First Year as President
We have received many opinions and expectations concerning our newly launched medium-term business plan and future management direction through interactions with a variety of stakeholders. While our medium-term business plan has been favorably evaluated for its ambitious management objectives, concerns have heightened over the widening gap between the final-year targets and current performance with regard to the likelihood of achieving these
goals. Given this, we believe we must present a more clearly defined and quantifiable roadmap for achieving these objectives. Despite changes in the external environment since the first year of the medium-term business plan, we have steadily advanced those actions that are feasible and/or required, such as continuing sales expansion. We pledge to our stakeholders that we will continue advancing our medium-term business plan and strive toward sustainable growth.
Progress of Medium-Term Business Plan
Details
Medium-Term Business Plan Themes: Expanding and Challenging Strategies in Core Business
Restructuring in the automotive industry is robust, and we recognize that this medium-term business plan period is a crucial time to lay the groundwork from a global perspective for the next generation. Amidst such circumstances, we believe we have been steadily advancing the initially targeted activities, including volume expansion in line with our clients' medium-term business plans and business growth by taking part in next-generation model development such as shared platforms.
Furthermore, we are progressing steadily with the development our proprietary technology. We have, for instance, established a target for our proprietary side rail processing method using roll-forming machines and, based on customer needs, are progressing with prototype production and evaluation. Moreover, we are proceeding according to plan with preparations for a new surface treatment process that will boost product marketability. And, in the construction machinery sector, our proprietary PRESS KOGYO Functional Cabin (PFC), which we are currently developing to round out our full cabin product lineup, has been very favorably evaluated. We are steadily advancing improvements and evolution toward its practical application. In this case as well, we place considerable importance on responding to customer needs through ongoing dialogue. We place unwavering emphasis on critical processes essential to our core products-pressing, welding, painting, and assembly-while also independently evolving these elemental technologies. This approach will serve to further strengthen our presence in the market.
03 Sustainability Initiatives
We Will Continue Our Growth as an Indispensable Presence Even Amidst Uncertainty.03 PRESS KOGYO Integrated Report 2025 04
Chapter 01／ Cover Story01 Cover Story
Message from the CEO
02 Growth Strategy for Value Creation
Medium-Term Business Plan Themes: Evolving Core Products Toward Electrification
Regarding EV sales expansion, we established our sales expansion plan while building a buffer into the timeline since the formulation of this medium-term business plan. Timelines for customer development or mass production have, in fact, shifted later than initial expectations, and in some regions, the pace of adoption has slowed. However, the further spread of EVs and other environmentally friendly vehicles is clearly certain. The Group has already received orders and launched certain items. We will continue focusing on expanding sales and building up our track record and expertise while, employing a proposal-based approach, steadily advancing core product evolution toward electrification. Moreover, during this process, we believe that the track record and expertise we have compiled from previously securing orders from European manufacturers will serve as a significant advantage.
and sharing with next-generation new products, further expanding the role of the Group. The continued effective use of existing assets and more efficient handling of variations on the part of current suppliers will also offer customers significant benefits.
Given these anticipated circumstances, the further strengthening of our proposal capabilities-which we have always prioritized-and our proposal-driven approach to business expansion will increase in importance. We must continually identify new next-generation needs and proactively propose value-creating solutions if we are to expand our core business while keeping partnerships with customers strong. The Group maintains its commitment to enhancing the precision of value creation through collaborative efforts with its customers, striving to deliver proposals that satisfy society's needs.
We are currently implementing the measures to achieve our medium-term objective and aim to realize subsequent
(details
P35-36) and to see all measures through to realize our final-year targets.At this point, the outlook for our near-term performance is weaker than initially expected. We sincerely hope, however, that our stakeholders will understand that the execution of investments in growth and business infrastructure according to plan is a vital step toward achieving the leap required for the completion phase of
. The environment surrounding the global situation and businesses is becoming increasingly uncertain., however, is our strategy to ensure we maintain our status as an indispensable presence and continue our growth even amidst such uncertain times. One after another, the measures we have implemented are steadily leading to the next set of results. Even when circumstances mandate a flexible response to changes in the environment, we will steadfastly advance the investments we originally planned at the critical moment-"now" and "here"-to generate value and achieve non-continuous success toward bringingto fruition.Reflections as We Celebrate Our 100th Anniversary
Details
P. 7-8We are truly grateful that our company has reached the 100-year milestone. I would once again like to express my sincerest gratitude to stakeholders within and outside the Press Kogyo Group. I would also like to very clearly acknowledge that today's 100-year legacy exists chiefly because of what our great predecessors built, as well as the robust partnerships and relationships of trust we share with our customers and suppliers.
Throughout the course of our 100-year history, we have consistently leveraged our strengths, i.e. the "proposal and development capabilities" to generate value aligned with the needs of each era, and the "integrity and effort" to do whatever necessary to resolve our customers' issues. Some of our products, for instance, have long lifecycles of 10 to 15 years before undergoing model changes. As a specialized supplier working with numerous customers, however, we are consistently afforded opportunities to be involved in model changes. We have been able to accumulate extensive experience, expertise, and trust both at home and internationally. We are proud of the fact that
Message To Our Stakeholders
The Group has been carrying out its 100th-anniversary initiatives (details
P9-10). The overarching concept for the 100th anniversary initiative is "gratitude" and "creation," embodying a century of appreciation and aspirations. We express our renewed gratitude for having reached the 100-year mark as a company. We view this as a positive milestone and aim to create a bright, new future for the Group. To this end, we will diligently fulfill our social responsibilities while boosting corporate value as we move toward the next century.While business strategy and other considerations preclude me from disclosing certain details, I personally have great anticipation for various initiatives that are currently in progress behind the scenes. Watch this space for future development! We hope to disclose information to our stakeholders to the fullest possible extent and foster proactive dialogue through our newly established IR team led by the CFO. We also look forward to engaging in proactive dialogue and walking the path of sustainable growth with all of you.
Regarding the goals for FY2028 target four years from now, we face the daunting task of increasing net sales by approximately 50 billion yen from the current level and doubling profits. With our sights set, however, on the vision of a stronger, more robust Press Kogyo Group that will emerge once we have reached these targets, we are determined to pursue our goals with unwavering resolve. In all our endeavors, we ask our stakeholders for their continued understanding and support.
03 Sustainability Initiatives
non-continuous growth.
Details
P. 19this accumulation has contributed to the Group's current strength.
Transform business risk into opportunity
As the current business environment continues to evolve, we will make decisions by carefully collecting information-particularly where customer trends are concerned-while assessing the outlook. We believe, however, that "Without placing excessive expectations on a sudden surge in demand, we should steadily advance what we can on our own and consistently strive to improve quality."
Compared with initial projections, we expect a slowing in the pace of electrification, but this situation is not at all unfavorable for the Group, which is also a current supplier. The extended period for transition to EVs and the continued need for multi-pathway compatibility mean persistent opportunities for current products. Simultaneously, we will see increased demand for commonality
Despite changes and fluctuations in the industry, there are no changes to the initially established targets for the final fiscal year (FY2028): net sales of ¥240 billion, an operating profit margin of 8.0% or higher, and ROE of 9.0% or higher.
We will actively pursue further sales growth by focusing on customers and products common to the medium-term business plan themes "Expanding and Challenging Strategies in Core Business" and "Evolving Core Products toward Electrification" while also expanding into new geographic territories. Moreover, the development and growth of our people are essential in realizing our medium-term business plan and continued corporate growth. We are committed to further cultivating the "Power to carry through" highlighted as a primary focus in the medium-term business plan theme "Promoting Sustainability Management"
Throughout the 100 years of our existence, overcoming numerous crises has required always finding the optimal solution to resolve challenges and acting in a resilient manner to adapt to change-a strength we have consistently leveraged.
Based on our awareness of this, I believe the primary role and responsibility entrusted to me is to firmly establish the growth trajectory outlined in
04 Financial Data / Company Information
05 PRESS KOGYO Integrated Report 2025 06
Chapter 01／ Cover Story
History of Growth and Development
01 Cover Story
Our History
03 Sustainability Initiatives
PRESS KOGYO CO., LTD. History of Growth and Development
One hundred years ago, on February 16, 1925, we began our journey as Press Mfg. Works, a limited partnership company in Shinagawa, Tokyo.
With a 600-ton press said to be the best in East Asia at the time of the founding, Press Mfg. Works contributed to the manufacturing of a wide range of products, including trolley wheels, construction materials and parts, rolling stock parts, and truck frames.
In 1934, we established PRESS KOGYO CO., LTD. Since then, we have steadily met growing demand, enhanced our production capacity, broadened our business fields, strengthened our corporate structure, and expanded globally. We have also engaged in joint development with other companies, and entered the vehicle assembly business.
Throughout the changing times, while facing various crises, we have consistently embraced bold challenges to expand our business and have overcome numerous difficulties. The Company has always been supported by the integrity and effort and the power to carry through demonstrated by every frontline employee.
For the past 100 years, we have acted in good faith and carried things forward, while navigating the challenges of the external environment, guided by the aspirations of all our people.
Acting with honesty and integrity- this is our commitment and the driving force for the next era.
The automotive industry is undergoing a once-in-a-century transformation, and the environment surrounding the Company remains unpredictable due to corporate restructuring, intensifying global competition, and the full-scale development toward electrification.
In 2021, we formulated our Vision / Mission / Values. These represent what we strive to be, our reason for being, and the values we cherish, serving as our guiding principles for the future amid a changing business environment. Regarding Values in particular, we integrated our long-held values-"power to carry through" and "integrity and effort"-with the new values we must embrace: "diversity" and
"creativity." This reflects our desire to foster a new corporate culture that evolves with the times, grounded in the values we have culti-
vated over the past 100 years.
Our goal is to create a future where each employee expresses their unique individuality-sometimes disagreeing, sometimes supporting one another-as we shape the future of Press Kogyo together.
We have begun taking on new challenges. We will carry forward the aspirations of our predecessors and the support of stakeholders built over our 100-year history into the next 100 years.
1925 1945
Formative Period
Founding, increased military demand during the war, and end of the war
02 Growth Strategy for Value Creation
Reconstruction Period
Post-war production recovery and growth in automotive-related business
1965 1985
Expansion Period
Expansion of production and development capabilities and entry into the vehicle assembly business
Transition Period
Full-fledged overseas production and business restructuring
2005 2025
New Era
Enhancing core products and advancing toward a global enterprise
Where We Started
The Company was established as Press Mfg. Works,
Development of Rear Axle Cases for Trucks
Full-Fledged Sales of Dies to External Parties
From Development of Steel Cabins to Vehicle Assembly and Production of Cabins for Construction Machinery
Development of Stamping and Welding Technologies
100th Anniversary
a limited partnership company, in Shinagawa, Tokyo, on February 16, 1925.
With a 600-ton press said to be the largest in East Asia at the time of the founding, Press Mfg. Works began by manufacturing trolley wheels and then added construction materials and parts and rolling stock parts to its products. It then began the production of truck frames. In June 1934, the Company converted to a stock company and changed its name to PRESS KOGYO CO., LTD., the current name. As the number of orders rose, in order to increase production capacity to meet future demand, the Company moved its head office and plant to Shiohama, Kawasaki-shi in 1937. It remains there to this day.
Since 1948, the Company had been producing rear axle cases for light-duty three-wheel trucks for Toyo Kogyo Co., Ltd. (present-day Mazda Motor Corporation). Subsequently, in 1953, the Company succeeded in developing stamped rear axle cases for heavy-duty trucks for Isuzu Motors Limited.
Rear axle case for heavy-duty trucks for Isuzu Motors Limited
As one aspect of the expansion of the manufacturing division, the Company began selling dies externally in 1960. The Group's high-precision and highly reliable dies and jigs have earned a high reputation among vehicle manufacturers.
In 1951, the Company began production of steel cabins for trucks. In 1954, the Company succeeded in full stamping of these cabins. Thin-plate products were added to the Company's product lineup, which had previously consisted mainly of thick-plate products.
In 1967, the Company began the vehicle assembly business. The Company engaged in production of Isuzu Unicab, Nissan Patrol, Isuzu Bighorn, Mazda Proceed Marvie (Onomichi Plant), etc., and refined its vehicle assembly technology, encompassing panel parts, metalworking, coating, outfitting, and assembly.
In 1975, the Company began developing and prototyping cabins for construction machinery, utilizing its automotive assembly technology, and began marketing them to construction machinery manufacturers in western Japan. In 1977, the Company received an order from Kawasaki Heavy Industries, Ltd. for a loader cabin and began mass production.
At the time of founding, the Company had introduced a 600-ton press. Subsequently, it introduced 5000-ton hydraulic presses and other progressively larger presses in line with the trend toward heavy-duty trucks, and over the years has been engaged in stamping lengthy products, such as frame products with a length of 12 meters, and axle cases, which are difficult to form. As a pioneer in the stamping field, we have continued to respond to customer needs to this day, for example by developing the BFR method as a technological development for axle cases in 1978 (a method which remains in use today), and through the development and production of lighter, high-precision, and high-strength variant shaped steel pipes for construction machinery cabins. In 2023, we introduced roll forming equipment as a new growth technology, expanding the selection of forming methods for long products.
Since receiving orders for axle case welding processing during our formative period as an enterprise, we have focused on the improvement and R&D of welding technologies. In 1974, the world's first arc welding robot was developed by Kawasaki Heavy Industries, Ltd. The Company began using it in its frame lines in 1980.
Thanks to your support and cooperation, PRESS KOGYO CO., LTD.
04 Financial Data / Company Information
celebrated its 100th anniversary in 2025.
Establishment of a Production Structure in Japan
Steel cabin prototype Isuzu Unicab
Full-Scale Overseas Business Development
Cabins for construction machinery
Establishment of Principles of Management and VMV
Making the Leap to a Global Enterprise and Further Growth
Business Structural Reforms / Become the World's No.1 in Our Core Products
1,500-ton press Research into bulging processing Stamping line No. 1 Commemorative ceremony for employees
First frame for military trucks
…Evolution of Technologies and Products ■ …History of Business Expansion
600-ton toggle drawing press
From the 1960s to the 1970s, Fujisawa, Onomichi, and Utsunomiya plants as well as Press Kogyo Saitama Works (present-day Saitama Plant) were established to meet the increased demand that accompanied Japan's economic growth. During this period, significant progress was made in developing new products and technologies as well as in R&D, and a production structure comprising five plants in Japan was established, which continues to date.
Though the Company had been exporting parts since the 1960s, it was in the 1980s, as a wave of globalization transformed the automotive industry, that the Company expanded into the U.S.A. and Thailand in quest of further growth opportunities. Since then, the Company has expanded local production overseas step by step and made
full-scale advances into overseas markets.
From the late 1990s through the early 2000s, the business environment remained challenging as demand for automobiles declined significantly in line with the economic downturn. We reformed the business structure, such as by reviewing unprofitable businesses, reorganizing the production system, and liquidating assets, while promoting business selection and concentration under the banner of "Making our core products the world's best," with frames, axles, and construction machinery cabins as our core products. As a result, we achieved a V-shaped recovery of business performance.
Since the 2000s, we have stepped up overseas business development, including the entry to the fast-growing markets of China and Indonesia, establishment of a new company in Thailand, and establishment of a new plant in the U.S., securing a firm position in the parts industry as a global enterprise.
We established the Company's Principles of Management in 2005 and our Vision / Mission / Values in 2021 to reflect What We Strive to Be, Reason for Being, and Values as a Group.
07 PRESS KOGYO
Integrated Report 2025 08