Title: NOK's Strategic Innovation and Growth Through Collaboration

In response to the global trend towards decarbonization, NOK has been reinforcing its commitment to strategic collaboration as a key driver for growth. The automotive and energy industries are undergoing a transformative phase, with a focus on achieving carbon neutrality. In adapting to these societal changes, NOK aims to position itself for the next stage of development by expanding its business horizons through effective partnerships.

One significant aspect of NOK's strategy is the emphasis on open innovation. Recognizing the importance of carbon neutrality, the company is actively engaging in collaborations with other firms and research institutions to broaden its business scope. The objective is to harness existing technologies to their maximum potential while also foreseeing and addressing future industry needs.

Looking towards the future of the automotive sector, NOK has strategically expanded its product portfolio for next-generation vehicles. The acquisition of Estow, renowned for its expertise in precision resin molding, is a key move. Estow's resin gaskets for in-car batteries have already been adopted by major electric vehicle (EV) manufacturers. In conjunction with NOK's rubber-based seal products and Flexible Printed Circuit (FPC) offerings, this diverse product range addresses a wide array of industry requirements. Additionally, NOK is leveraging Estow's technology to develop innovative products, combining existing offerings with resin-based solutions.

NOK's collaboration with Germany's Froedenberg is another noteworthy initiative. Froedenberg specializes in pressure control valves for in-car batteries and has a proven track record of adoption in the rapidly advancing EV market in Europe. NOK is adapting this technology for the Japanese market. Furthermore, the collaboration extends to hydrogen technology development, with joint efforts in fuel cell vehicles (FCV) and plans to strengthen proposals for infrastructure-related solutions, such as water electrolysis devices.

The company is also directing efforts towards creating synergy within its group. Shifting its focus from solving individual customer challenges with products like oil seals, gaskets, greases, and FPCs, NOK has restructured its organization to anticipate needs and provide unique value through cross-functional collaboration. This approach has resulted in the creation of innovative fusion products such as "Seal Products x Lubricants" and "Seal Products x FPC," which might not have emerged within a single business unit.

In conclusion, NOK's commitment to strategic collaboration, open innovation, and diversified product development positions it at the forefront of industry transformation. As the company sets ambitious revenue targets for the fiscal year 2031, a substantial portion of this growth is anticipated to come from expanding into new and innovative fields, solidifying its reputation as a leader in driving sustainable and cutting-edge solutions.