What changes were needed for Kureha to meet its target of becoming a leading global specialty products company, implementing strategic high-quality research and development, and manufacturing capabilities?
The first step taken was to implement an ideological shift within the company, focusing employees' thinking away from mere product development and onto the specific needs of markets. This was followed by a move to position advanced products, pharmaceuticals and agrochemicals, and high barrier packaging materials as the three key business areas in which the company can benefit from its original technology and marketing capabilities to secure steady growth. This move in particular is already reaping rewards, with Kureha exhibiting significant development, production and marketing strengths in each of these three business areas.
Kureha's goal is to support future growth by adopting a model that takes a global perspective to focus on winnable markets in each of the company's business areas, including those still in the development phase.
Promoting specialization from the company's core
Kureha has three business areas: the Advanced Materials Division, the Specialty Chemicals Division and the Specialty Plastics Division. In order to help grow profitability, each key area of focus falls under a corresponding business division; advanced products in the Advanced Materials Division, pharmaceuticals and agrochemicals in the Specialty Chemicals Division, and high barrier packaging materials in the Specialty Plastics Division.
Restructuring efforts to shift the company's focus away from the manufacturing of commodity chemicals and more towards becoming a leading global specialty products business by selecting and concentrating on key growth areas, have helped make all of Kureha's businesses become more specialized.