As one part of the 50th anniversary of the founding of our company, we formulated the Benda Group’s First Medium-Term Business Plan in 2014. The core of this plan is the “One Benda Project”.
In pursuit of becoming an ideal company of the Benda Group, we formulated the first and second phases of the “One Benda Project” every three years starting in FY2014, and we have been working hard towards strategic implementation of this project.
The third phase was newly formulated as the “One Benda Project Next” in October 2020 in order for the Benda Group to sustainably grow and evolve. With the changes in markets due to the effects of the COVID-19 pandemic that spread all across the world in 2020, as well as the changes to our modern age as represented by CASE*, we had to drastically revise our targets, action plans, and similar items, resulting in the start of this plan being delayed by six months.
Not allowing ourselves to be overwhelmed by the changes in the world, we are continuing to develop new products to match this new environment, upgrading our manufacturing infrastructure, and constructing management systems.
* CASE: Acronym for next-generation automobile technology and new trends in services. It stands for Connected, Autonomous, Shared, and Electric.
Flow of Benda Group Medium-Term Business Plan from First to Third Phases
The first step towards becoming an ideal company of the Benda Group was the establishment of our vision: “Creation of a One Benda System”. The goal is to expand from a product structure that centers on single products such as ring gears to placing greater emphasis on drive plate assemblies in order to expand our share in global markets. During the three years of the first phase, we completed the creation of efficient and optimal business management systems as our overall group business strategy to reach our goals. In the three years of the second phase, we maximally utilized the collective strength of the Benda Group to implement growth strategies as a global tier one company.
The “Creation of a One Benda System” consists of creating a system allowing us to ascertain information across the entire group in a timely manner and achieve strategic business expansion with shared understanding of our goals. The following specific measures were taken to solidify a foothold for the creation of this new system.
● Benda Thailand started operation in 2014 as a Thai subsidiary in order to expand into ASEAN markets
● Change to a consolidated settlement of accounting system from the period ending in March 2014 and introduction of accounting audits
● Completion of Plant No. 1 of the Kurose Industrial Complex in 2016 We have strengthened our Japanese production systems.
● Start of four “One Benda Projects” (Development/Design, Sales/Marketing, Production/Procurement, and Business Management)
The Second Medium-Term Business Plan of the second “One Benda Project” focused on strengthening business operations in the assembly area. As a result, we improved our development, quality assurance, BCP measures, and all management systems in the following ways to reach the level required as a “Global tier one corporation that develops technology.”
● Establishment of our new Headquarters Plant in the Naeshiro Industrial Complex in Kure City in 2018 as a means to strengthen our manufacturing infrastructure within Japan, including BCP measures
● Start of operations at the Shenyang Branch Plant of Yancheng Benda (China) in 2018 in order to strengthen our position in the Chinese market
● Rebuilt of two bases in South Korea and China in 2019 Benda Sunkwang (South Korea) concentrated their previously scattered plants and warehouses into the new Incheon Plant with this centralization of production systems resulting in a boost to production capacity. Yancheng Benda moved operations to the Yancheng Economic and Technical Development Zone.
● Addition of a Quality Project to promote five One Benda Projects (Development/Design, Sales/Marketing, Production/Procurement, Business Management, and Quality)
● Acquisition of IATF 16949 (International quality management systems standard for the automotive industry) certification at all Benda Group bases
We are working on establishing supply systems for global markets from Japan as well as our other bases in Asia while also implementing growth strategies maximally utilizing the collective strength of the Benda Group.
We are now working to further extend our supply system that allowed us to expand from the Asian markets established during First and Second Medium-Term Plans into global markets. Additionally, we are experiencing an era of massive transformations including the once-in-a-hundred-years revolutionary transformation of the auto industry, a global infectious disease pandemic, and trade wars. In response, we are taking on the following challenges in order to further “deepen” Benda Group technology and achieve our ideal vision of “Sustainable growth as a global tier one company while adapting to the changes of this new era.”
● Efforts to increase sales of new products, and to expand and streamline existing business
● Addition of a Human Resources Development Project to promote six One Benda Projects (Development/Design, Sales/Marketing, Production/Procurement, Business Management, Quality, and Human Resources Development)
Benda Kogyo has established a training system with the goal of forming ideal workers as persons who accomplish tasks, acquire specialized expertise, and are good team workers. Additionally, by use of e-learning, we are sharing human resources strategies and know-how throughout the Benda Group in order to achieve a standard level of human resources development. This will allow the entire Benda Group to adapt to the changing era and changes in the external environment by establishing a human resources development system in order to achieve sustainable growth.
We will maintain “Made by Benda” quality while embodying the strong “We’ll bend the world’s iron!” spirit of the company’s founders, in order to face even greater challenges head on.