GS Yuasa Corporation GS Yuasa Report 2020 2020. 10. 16.¢  GS Yuasa Report 2020 GS Yuasa Corporation

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  • G S Y

    u asa R

    ep o

    rt 2020

    GS Yuasa Corporation

    For the fiscal year ended March 31, 2020

    GS Yuasa Report 2020

    International Space Station ©JAXA/NASA

    GS Yuasa Corporation Head Office 1, Inobanba-cho, Nishinosho, Kisshoin, Minami-ku, Kyoto 601-8520, Japan English website:

  • Period and content covered Results for fiscal 2019 (April 1, 2019–March 31, 2020)

    Companies covered This report covers the GS Yuasa Group, comprised of GS Yuasa Corporation, the holding company; GS Yuasa International Ltd., the Group’s core operating company; and consolidated subsidiaries. Notes are included for data that fall outside the scope of the companies covered.

    Date of issue October 2020

    Preparation of this report This report has been issued to familiarize our stakeholders with the management policies and business strategies of the GS Yuasa Group. In editing the report, we have referred to the Guidance for Integrated Corporate Disclosure and Company-Investor Dialogues for Collaborative Value Creation formulated by Japan’s Ministry of Economy, Trade and Industry. We have explained the path toward medium- to long-term value creation aimed for by our Group, with reference to business models and opportunities and risks, in the hope that readers can deepen their understanding of this topic.

    Disclaimer This report contains earnings forecasts and other financial information pertaining to future business performance. These contents are based on information available at the time of issue and include an element of latent risk and uncertainty related to economic trends, demand, the forex rate, the tax system, and other factors. Please understand that actual earnings could diverge greatly from those presented here.

    About importance and comprehensiveness This report focuses on particularly important information, presented in such a way as to be easy to read and understand. The website discloses comprehensive information in order to meet public demands.

    We are committed to people, society and the global environment through innovation and growth of our employees and business entities.

    Corporate Slogan Creating the Future of Energy

    1. GS Yuasa will become the “first call” company based on our “customer first” policy.

    2. GS Yuasa considers quality and safety as most important, and supplies environmentally conscious products all over the world.

    3. GS Yuasa will comply with all laws and operate using clear and fair management.

    Management Policy

    The commitment instilled in this slogan:

    We pledge to pioneer new modes of futuristic energy (storage batteries), engineered to address the constantly changing needs of the times.

    Management Vision We are committed to delivering security and comfort to our customers around the globe through advanced technologies developed in the field of stored energy solutions.

    Contents Scope of this report Philosophy

    Innovation and GrowthPhilosophyIntroduction Philosophy

    Steps Toward Value Creation  

    Current Business

    Market Outlook

    Value Creation Initiatives Value Creation Process

    External Evaluation

    Medium- to Long-Term Vision and Strategy Message from the President

    Overview of and Progress with the Mid-Term Management Plan (Long-Term Vision and the Mid-Term Management Plan)

    Message from the Director in Charge of Finance

    Overview of and Progress with the Mid-Term Management Plan (Finance/ESG)

    Performance in FY2019 At a Glance

          −Automotive Batteries       −Automotive Batteries (Japan)       −Automotive Batteries (Overseas)       −Industrial Batteries and Power Supplies       −Automotive Lithium-ion Batteries       −Others Research and Development

    ESG Materiality




    Messages from Outside Directors and an Outside Corporate Auditor

    Directors and Auditors

    List of Items on CSR Website

    Financial Section 11-Year Consolidated Financial Highlights

    Financial Review

    Risk Information

    Financial Statements

    Corporate Information

    Stock Information












































    −A History of Innovation

    −A History of Growth

    −By Sector

    −By Region

    −Overall Image



    −Financial Highlights

    −Non-Financial Highlights

    Conditions by Business Sector



    Detailed Data

    W ide


    Target readership N


    GS YUASA Report 20201 GS YUASA Report 2020 2

  • Contributing to society through products

    Genzo Shimadzu manufactures Japan’s first lead-acid battery

    1895 Japan Storage Battery Co., Ltd. established

    1917 Genzo Shimadzu invents the reactive lead oxide production method

    1920 Production of alkaline batteries begins

    1938 Shinkai 6500, a manned research submersible equipped with GS batteries, makes maiden voyage

    1989 Prismatic lithium-ion batteries developed


    Shichizaemon Yuasa embarks on storage battery manufacture

    1915 Yuasa Storage Battery Co., Ltd. established

    1918 Production of automotive lead-acid batteries begins

    1920 Production of alkaline batteries begins

    1941 Dry and charged batteries go on sale in Japan for the first time


    GS (Japan Storage Battery)

    YUASA (Yuasa Corporation)

    Contributing to the steady supply of electric power

    Supply of new means of mobility

    Ultra-thin lithium-ion polymer secondary batteries marketed


    The founder of Japan Storage Battery Co., Ltd. was Genzo Shimadzu (1869–1951), who inherited his father’s business at the young age of 26. Following the motto “Making practical use of science,” which meant capitalizing on scientific knowledge in product development, Shimadzu was quick to spot the potential of storage batteries and contributed to their diffusion and progress. He was a highly creative person who acquired 178 patents in his lifetime. Among his accomplishments were the manufacture of Japan’s first lead-acid battery and the invention of the reactive lead oxide production method, which acquired patents in many countries around the world. Shimadzu was one of those rare inventors who believed that “passion and tenacity are the mother of invention.” This inventive spirit continues to be our Group’s driving force.

    The founder of Yuasa Corporation was Shichizaemon Yuasa (1877–1943), the twelfth-generation owner of a business started in 1666. He blew a fresh breeze into the Yuasa family, one of the oldest corporate names in Japan, and modernized the business. Newly launching the storage battery business, he procured a large amount of funds to establish the company in 1918. With foresight, pragmatism, and speed, Yuasa steered the business to success. He was a natural entrepreneur whose principles were steadfastness and coexistence and coprosperity and who preached that “business is people.” This corporate philosophy has continued to support our Group to this day.

    Founder of Japan Storage Battery Co., Ltd.

    Genzo Shimadzu

    Founder of Yuasa Storage Battery Co., Ltd.

    Shichizaemon Yuasa

    1920s Supply of storage batteries for radios

    1930s Supply of lead-acid batteries

    for the first electric bus produced in Japan

    Contributing to the smaller size of motorcycles

    Assisting the electric vehicle (EV) boom

    Supporting the evolution of mobile phones

    1900s Manufacture of large-capacity storage batteries for auxiliary power

    1970s Development of a high-performance

    and long-life lead-acid battery

    1950s Marketing of a small and light storage battery for motorcycles

    1990s Development of a small prismatic lithium-ion battery

    1895 19401900 1920 1960 1980

    Contributing to the diffusion of radios in ordinary households

    The GS Yuasa Group began from the lead-acid battery business, developing Japan’s first automotive lead-acid battery. The Group then released numerous innovative products that were hailed as “Japan firsts” and “world firsts.” Our products continue to shine in a wide range of applications and environments, from automobiles to satellites.

    Accumulation of Socially Useful Innovations

    Steps Toward Value Creation: A History of Innovation Introduction Value Creation Initiatives Medium- to Long-Term Vision and Strategy Performance in FY2019 ESG Financial Section

    GS YUASA Report 20203 GS YUASA Report 2020 4

  • GS Yuasa Corporation established through

    corporate merger


    Lithium Energy Japan established as a large-size

    lithium-ion battery joint venture by GS Yuasa, Mitsubishi

    Corporation, and Mitsubishi Motors Corporation



    2010 Full-fledged deployment of