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Strategic Management Project

Sumitomo Heavy Industries


Submitted to: Prof. Veeresh Sharma

Submitted by:
Somyata Rastogi
15P070

Table of Contents
1. Executive summary
2. Introduction: Company history and product portfolio
3. Part A) External Audit
Market segmentation
Market size and growth prospects
General environment analysis
Industry Analysis Porters 5 force model
Competitors Analysis
SWOT analysis
4. Part B) Internal Audit
Mission and values
Core competency
Financial data
Value Chain analysis
5. Part C) Strategic recommendations
6. Conclusion
7. References

Executive summary
The development gear business sector is relied upon to be driven by developing number of base what's
more, mining exercises on a worldwide level. By virtue of modernization and mechanical headway, the
requirement for development hardware has moved from conventional purposes such as horticulture to more
restrained fields, including railroads and military.Market revenue is about USD 150 Billion currently and
expected to be USD 208.36 Billion by 2020, growing at a CAGR of 5.1% from 2015 to 2020. Asia Pacific
has a demand or consumption of 53% of the total global produce. This is a significant fact for Sumitomo
Heavy Industries which is headquartered at Tokyo, Japan. During analysis, key market opportunities were
infered as investment in R&D activities, mergers and acquisitions for market expansion. Hitachi
Construction Machinery and Komatsu are some of the industrial players. Critical success factors can be
listed as robust aftermarket services and product development and innovation. With Chinese heavy
equipment firms beginning to expand into foreign markets, competing companies look to better understand
their Chinese rivals in hopes of predicting future strategies and protecting themselves from losses. The more
prepared these companies are for the Chinese, the quicker and easier it will be to adapt to new strategies
and market changes. On the basis of external and internal environment analysis of the company, appropriate
strategic recommendations have been given at the end. It has been made sure that the strategies
recommended are in conjuction with the mission and the values of the company.

Introduction
Sumitomo Heavy Industries, Ltd. (SHI) is an assembling organization that arrangements with the
assembling of modern hardware, programmed weaponry, ships, scaffolds and steel structure, gear for
ecological security, including reusing, power transmission hardware, plastic trim machines, laser preparing
frameworks, molecule quickening agents, material taking care of frameworks, disease demonstrative and
treatment hardware and others. The organization was established on twentieth November, 1888 and was
some time ago there to give hardware repair administrations to the Besshi copper mine. Just about 50 years
after the fact, in 1934, the organization started as Sumitomo Machinery Co., Ltd. to produce hardware for
the steel and transportation businesses in backing of that time of fast financial development. In 1969,
Sumitomo Machinery Co., Ltd. converged with Uraga Heavy Industries Co., Ltd. to make Sumitomo Heavy
Industries, Ltd. The organization keeps on advancing and extend to meet the requests of the new market
outskirts. Today, it is even into assembling of infusion trim machines, laser frameworks, semiconductor
apparatus and fluid gem creation hardware. In 1979, company broadly fabricated the Seawise Giant, the
longest ship ever constructed. [1]

Figure 1) Company Logo

Seawise Giant was the longest ship ever built. She possessed the greatest deadweight tonnage ever
recorded. Fully laden, her displacement was 657,019 tonnes (646,642 long tons; 724,239 short tons),
the heaviest ship of any kind, and with a laden draft of 24.6 m (81 ft), she was incapable of navigating
The
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Referred to at first as Izumi-ya, Sumitomo started its operations in the fields of copper refining, exchanging,
and mining. Its Shikoku Besshi Copper Mine initially opened in 1691, and by 1888, mining operations had
sufficiently extended to warrant the presentation of the "shop hones" idea as a strategy for assembling and
repairing gear and devices utilized at the mine. This had denoted the start of the organization. Amid its
course of operation, organization has experienced a few name changes, first with the change to Kikaika (or
"Hardware Division") in 1894, and afterward to Niihama Seisakusho (or "Niihama Works") in 1928. The
organization was built up as a free open company in 1934 under the name of Sumitomo Machinery Co.,
Ltd. In 1940, its name was again changed to Sumitomo Kikai Kogyo Co., Ltd. (then again "Sumitomo
Machinery Industries"). Organization had 18,061 number of Employees as of March 31, 2015.
In 1969, the organization teamed up with Uraga Heavy Industries, Ltd., an organization initially settled as
Uraga Dock Co., Ltd. in 1897 with the support of Takeaki Enomoto. After their merger, the organization,
now working under the name of Sumitomo Heavy Industries, Ltd., operationalized two vast scale plants,
the Oppama Shipyard (right now known as the Yokosuka Works) and Toyo Works, setting up its
establishments as a substantial commercial ventures organization.
Sumitomo Heavy Industries has dependably strived for mechanical development and applies bleeding edge
innovations wherever conceivable. The organization works in an expansive scope of business regions
extending from assembling gear and base to fields making utilization of the most recent propelled
innovation. Most as of late, the organization's innovative work endeavors have concentrated on fine,
mechatronics, and frameworks advancements and by doing as such it has possessed the capacity to pick up
an a dependable balance in the zones of accuracy control gadgets and key parts. For instance, the
organization has succeeded in creating hardware for the assembling of LCDs and semiconductors and in
addition advanced home machines. This new zone of business is situated to end up the third center
competency for the organization after force transmission hardware and plastics apparatus. [2]
Product Portfolio:

Power Transmission & Control Equipment

Company develops, manufactures, and sells reducers, which are devices for decelerating the turning speed
of motors to an optimum rate, while increasing the torque. Main products are Cyclo Drives Speed Reducer,
Compact Gear Motors, and Speed Reducer for Precision Control and Large-Sized Gearboxes.
Plastics Machinery
Company develops, manufactures, and sells injection molding machines that are used to create plastic
products. The products are made by pouring melted plastic into a die. Injection molding machines are used
to create the majority of the plastic products in our daily lives, such as CDs, DVDs, and Blu-ray Discs, as
well as PET bottles, components for mobile phones and computers, and medical devices. Main products
Injection Molding Machines and Transfer Molding Press Machines.

Industrial Equipment

Company creates products through the application of technologies for accelerating electrons. Examples
include proton cancer treatment systems, which remove targeted cancer lesions, or medication supply
systems for positron-emission tomography (PET) imaging diagnosis, which has proven effective for the

early detection of cancers. In addition, the business unit makes products that contribute to society in the
areas of health care and energy, such as equipment for the manufacturing of solar cells. Main products are
Cyclotrons for PET, PET Tracer Production System and Proton Therapy Systems.

Mechatronics Equipment

A business unit of the SHI Group also develops, manufactures, and sells precision positioning stages, laser
beam machines, and molding equipment, which are used in the manufacturing of semiconductors and liquid
crystal panels, as well as drives and control systems for various systems.

Ship & Marine

More than 1,300 ships have been built since the inauguration of the business. In recent years this business
unit of the SHI Group has specialized in mid-size tankers, building ships with high added value that require
sophisticated technological capabilities.

Steel Structure & Process Equipment Div.

Company also handles reaction containers used in oil refinery facilities, as well as agitating vessels used,
for example, in the chemical industry. One type of reaction container, the coke drum, extracts light oil from
heavy oil, contributing to the effective use of petroleum resources. [7]

Part A) External Audit


Sumitomo heavy industries lies in the heavy industrial equipment industry. Major proportion of this
industry is the heavy construction industry which has substantial Construction Equipment Market by sort
(Earthmoving, Material Handling, Heavy Construction Vehicles), Application (Excavation and destruction,
Heavy Lifting, Material Handling and Others), Industry (Infrastructure, Construction and Others) - Forecast
to 2020 is quite favorable.

Market segmentation
(Heavy construction and industrial equipment are a major proportion of the product portfolio of
Sumitomo Heavy industries)

The construction equipment market can be segmented into two levels. For the first level, market can be
split by products, which include earth moving machinery, material handling machinery, concrete and road
construction equipment and others. North America regional construction equipment market includes the
U.S., Canada and Mexico. Europe regional construction equipment market includes European Union, CIS
and other non-member states. Asia Pacific regional construction equipment market includes Japan, China,
India, Taiwan, Korea, and Australia. RoW construction equipment market includes South America, Middle
East and Africa.

Market Size and Growth Prospects


The monetary development and expanded spending on infrastructural exercises has had enormous influence
in giving the important help to the worldwide substantial development gear industry. The worldwide
substantial development gear industry is anticipated to develop at a CAGR of 6.80% from 2015 to 2020.
The earthmoving gear is the quickest developing fragment in the substantial development hardware market
over the globe.

Asia Pacific
construction
equipment
market, by
product, 20122020, (USD
Billion)
Past &
projected data

Although Sumitomo deals in great deal of business but overall the driving players of the business sector,
for example, Caterpillar Inc. (U.S.), CNH Global N.V. (The Netherlands), Hyundai Heavy Industries Co.,
Ltd. (South Korea), Volvo Construction Equipment AB (Sweden) have been profiled to give an
understanding of the aggressive situation in the overwhelming market. Mergers and acquisitions have been
the key methodologies received by driving organizations to suit the quick changing innovations in the
application territories and to build their piece of the overall industry. Organizations have likewise received
vital extensions and ventures to connect the current holes in their item offerings, end market prerequisites,
and land limitations. These procedures have been received by driving organizations to guarantee
maintenance of extensive piece of the pie inside of the corner overwhelming development gear market. [4]

General Environment analysis

Political & Legal

Government arrangements around tax breaks for base endeavors have supported use in creating
nations, for example, India.
Stringent safety and emission regulations for curbing emission of gases like carbon dioxide, nitrous
oxide and methane
Regulations enforced by the U.S. Environmental Protection Agency and European Union to restrict
the pollution levels and greenhouse effect

Technological

Continued development for advanced construction equipment that is energy efficient and requires
lower maintenance
Growing replacement of traditional mechanical and hydraulic systems with enhanced machinery
for lowering operating expenditure
Technological advancement allows failure monitoring of equipment with the help of computers

Social

Japan has low levels of individualistic ideologies maintaining a collective mental stance resulting
from the past industrial regime
Culturally the Japanese are committed to groups including, but not limited to; family, extended
family and extended relationships.
In collectivist cultures, loyalty is dominant. This is reflected in Japans ability to foster strong
relationships where everyone assumes responsibility for members of their group.

Demographics

Asia Pacific development equipment market represented more than half of the general income in
2015. China constituted the biggest offer of the Asia Pacific business sector with more than 80%
of offer in 2015, trailed by Japan, Australia, Indonesia, and South Korea.
Developing spotlight on base and expanding motorization of assembling procedures are the key
components driving the business sector. Expanded infiltration of Chinese development apparatus
into the premium items market has tested existing makers, for example, Komatsu and Caterpillar.
Worldwide subsidence hampered the commercial enterprises, especially in Europe and North
America.

Environment

Construction equipment produce harmful gases like carbon monoxide and sulfur dioxide, which
adversely affects the environment
There exist stringent policies by environmental agencies and regulatory authorities for ensuring
environment protection

Industry Analysis Porters 5 force model

Threat of new
Entrants: Low

Bargaining
power of
suppliers: low

Industrial
Rivalry:
High

Bargaining
power of
buyers:
Moderate

Threat of
substitues:
Low

Threat of new entrants: There is a low danger of new contestants in the business as a result of the high
capital required to build up another firm that creates substantial gear. Little organizations could enter the
business and give substantial apparatus through little scale creation. Be that as it may, these little new
contestants have negligible impact on firms like Sumitomo Heavy Industries.
Industry Rivalry: Sumitomo confronts high rivalry in the business. In heavy equipment producing, there
are huge contenders from nations such as China and the Netherlands. These contenders are likewise
significant players in the worldwide business sector. They have building ability practically identical to that
of Sumitomo. In money related administrations, rivalry is significantly higher. There are some little,
medium and substantial money related administration organizations that straightforwardly rival firms like
Sumitomo.
Threat of substitutes: The risk of substitution is low. Heavy construction equipment developed and
produced by Sumitomo are hard to substitute by any ordinary competitors product. Be that as it may, the
present pattern is toward motorization and mechanization. Along these lines, clients are unrealistic to move
far from utilizing overwhelming hardware like those from Sumitomo.

Bargaining power of buyers: Sumitomo's purchasers incorporate gatherings and associations. For
instance, development firms and government offices buy substantial machines from firms like Sumitomo.
The haggling force of purchasers is low in light of constrained choices. Just a couple real organizations
offer items with high caliber and toughness contrasted with those of Sumitomo.
Bargaining power of suppliers: Sumitomo's suppliers are organizations that give crude materials and parts
to its items. Long term relationships are of essence in Japan. The supplier-buyer relationship is a product
of a long period of interaction based on mutual trust. Sumitomo has been successful in maintaining good
relations with all of its suppliers. Hence, the haggling force of suppliers is low.

Competitors Analysis
Though the portfolio of Sumitomo heavy industries is huge but still we will focus on construction and other
heavy equipment proportion of their product portfolio as they contribute in highest amount to sales in terms
of revenue and volume. Heavy equipment industry includes major players like Doosan, Hitachi, Volvo,
Komatsu, John Deere, and Caterpillar. Merchants in North America and Europe intend to meet discharge
regulations put forward by administrative bodies and expect to lower creation cost by expanding interest in
R&D exercises for reinforcing their circulation system to guarantee worldwide vicinity. Huge scale
foundation advancement, venture speculations, development, and vital organizations together stay to be the
key development methodologies.
In the worldwide heavy equipment industry all in all, one vital gathering is described by expansive product
offerings, universal generation offices, broad conveyance and administration, and considerable Research
and Development focuses. Another gathering comprises of authority makers who are concentrating on very
particular product offerings and specific conveyance. Another gathering comprises of ease producers who
concentrate on minimal effort items (i.e. reasonable, disposable, plastic health equipment units) that greater
makers don't try creating. Yet another gathering is a piece of the in reverse reconciliation of producers
which only few competitors follow along with Sumitomo.
Few players strategies have been listed below:
1. Hitachi Construction Machinery Co. Ltd
Vision: Create richer lives and a better society
Mission: Identify the needs of society, set and achieve goals
Value: Trusted by customers & society, responsible for actions
2. Caterpillar Inc.
Vision: Create a world in which all peoples basic needs such as shelter, clean water, sanitation, food and
reliable power are fulfilled in an environmentally sustainable way and a company that improves the
quality of the environment and the communities where they live and work.
Mission: To enable economic growth through infrastructure and energy development, and to provide
solutions that support communities and protect the planet.

Strategy: To provide work environments, products, services and solutions that make productive and
efficient use of resources as they strive to achieve their vision.
3. Komatsu Ltd.
Vision: To become indispensable to their Customers. They can achieve this by always being driven by our
customer's success where every customer contact is an opportunity to enhance their brand value.
Mission: Engage their employees to progressively earn the trust of their customers and sustainably grow
the business for their shareholders.

SWOT analysis:
Strengths: Sumitomo's qualities incorporate its solid image picture, extensive scale resources, and its
worldwide name in global arena, when it developed the longest ship in the world named Seawise Giant.
The organization's solid image picture depends on the way that the Sumitomo name is surely understood
far and wide for quality. The organization additionally has substantial vital resources that can be utilized to
bolster further business development and improvement. Moreover, the firm has an extensive worldwide
system of merchants. Also, the company has maintained good terms with its suppliers and other
stakeholders. Company aims to create first class products by strengthening their research and development
efforts. Also the company has implemented companywide measures to protect, manage and cultivate the
companys intellectual assets.
Weaknesses: Sumitomo's shortcomings incorporate its low rate of development and constrained
associations in developing markets. The low rate of advancement in the heavy equipment construction
industry and commercial enterprises is a fact of concern. Although, this shortcoming makes Sumitomo
helpless against contenders that forcefully put resources into mechanical development. Restricted business
associations in developing markets like India and other Asian countries keep the firm from amplifying
incomes. For instance, while it as of now works in China, Sumitomo still does not have a broad system of
merchants in the Chinese market.
Opportunities: Sumitomo's chances incorporate expanding its incomes through development and
extension, and channelizing its resources towards advancement. The organization can develop and extend
in rising and creating markets, particularly in Asia and Africa. The business can abuse the development
blast in these business sectors. Sumitomo can innovate to develop better or new products to capture more
of the global market. It has an advantage of being situated in Japan where it can leverage the robotics
research to gain more competitiveness over others.
Threats: The threats to Sumitomos business are imitation and aggressive competition. Imitation has
become an issue in the advent of local or regional firms that simply copy the original designs of global
firms. For example, some Chinese manufacturers could easily use Sumitomos designs with some
modifications to produce products that compete against Sumitomo. On the other hand, aggressive
competition could come in the form of rapid technological advancement of major competitors. For example,
some fellow Japanese firms could integrate robotics in their products to make them more competitive than
Sumitomos.

Part B) Internal Audit


Corporate Mission Statement
We will aim to become a machinery manufacturer that continues to provide excellent products and services
to the world. With integrity being a key principle in the Group, we will contribute towards society by
gaining high respect and confidence from all stakeholders.
Values

Customer First

They wish to exceed customer expectations by providing sophisticated efficient products and services,
giving the utmost consideration to their needs and requirements.

Embrace Changes

They wish to continue driving and embracing changes without accepting the status quo.

Commitment to Technology and Innovation

They consider themselves to be responsible and passionate about contributing to society by further
developing their unique, in-house technologies.

Respect People

They want to nurture an organizational climate that fosters mutual respect, tolerance and learning for
growth.

Core competency
Value: Sumitomo heavy industries has a solid brand that has been known for years. Company has earned
little higher benefits from their items than other claim organizations in view of the faithfulness connected
with the company wide portfolio product range. Customers are highly satisfied with the sturdiness and
quality of the products.
Rare: Great quality has always been on a priority for Sumitomo Heavy industries. Production and designs
of the components are brilliant. The organization additionally has unique product offerings, for example,
items for healthcare industries in terms of small plastic mouldings to huge machineries.
Imitation: SHI group is driven by distinctive technologies. As such, the intellectual property is of utmost
importance and the wellspring of the groups competitive advantage. The principal focus of their efforts is
directed at the four elements of intellectual property activity, namely: utilizing exclusive rights; respecting
other companies rights; ensuring that rights to intellectual property are secured; and ensuring that such
rights are utilized with the optimum timing and all due speed.
Non-substitutable: With the mission of providing quality products and integrating their services,
Sumitomo has earned a name in the arena which stands for long run and impeccable track record. As long

as the company puts in adequate research and development efforts in their wide portfolio and expansion to
meet the customer demands and targets, its a brand hard to replicate or ruin.
Sumitomo heavy industry has many core competencies, some of which relate to the production of quality
products, logistics, and the acquisition of wider dealer networks. The distinctive competencies are unique
to Sumitomo group and are considered to be superior in given aspects. They make it possible for Sumitomo
heavy industries to manufacture diverse value proposition in the function of the company. A distinctive
competency works as the basis for the growth of an incontestable competitive advantage. The uniqueness
separates this particular competency from all others, whether a core competency or just a competency.

Financial DataFinancial Highlights for the last annual year


Fiscal Year
Fiscal Year Ends:

Mar 31

Most Recent Quarter (mrq):

Dec 31, 2015

Profitability
Profit Margin (ttm):

3.13%

Operating Margin (ttm):

6.21%

Management Effectiveness
Return on Assets (ttm):

3.51%

Return on Equity (ttm):

5.56%

Income Statement
Revenue (ttm):

6.10B

Revenue Per Share (ttm):

49.75

Qtrly Revenue Growth (yoy):

4.60%

Gross Profit (ttm):

N/A

EBITDA (ttm)6:

506.79M

Net Income Avl to Common (ttm):

190.79M

Diluted EPS (ttm):

1.56

Qtrly Earnings Growth (yoy):

-20.10%

Balance Sheet
Total Cash (mrq):

505.35M

Total Cash Per Share (mrq):

4.12

Total Debt (mrq):

672.05M

Total Debt/Equity (mrq):

20.35

Current Ratio (mrq):

1.62

Book Value Per Share (mrq):

26.45

Cash Flow Statement


Operating Cash Flow (ttm):

N/A

Levered Free Cash Flow (ttm):

N/A

Abbreviation Guide: K = Thousands; M = Millions; B = Billions


mrq = Most Recent Quarter (as of Dec 31, 2015)
ttm = Trailing Twelve Months (as of Dec 31, 2015)
yoy = Year Over Year (as of Dec 31, 2015)
lfy = Last Fiscal Year (as of Mar 31, 2015)
fye = Fiscal Year Ending
Data provided by Thomson Reuters

Value Chain Analysis

Figure: Business portfolio and value chain of SHI group


Company has aimed to promote the evolution of synergies between business segments to create value
chains. They have identified the most promising products in each segment, and have been concentrating
resources and efforts into expanding the scale of business for these products. They have also been working
on the development of the new technologies required for development of new products in select, promising
growth fields. Then they are thinking of redoubling their efforts to expand and strengthen their Key

Components businesses. They have many excellent Key Component products like power transmission
controls and other precision control equipment, and are expanding the scale of sales and ROIC. They are
working on increasing production efficiency in construction equipment and industrial machinery, which
will lead to enhanced profitability. In shipbuilding, they have adopted a strategy of specializing in mediumsized tankers. Their emphasis is on improving profitability, rather than expanding sales. While
strengthening these lineups, they create their own proprietary business model and create a vertical business
paradigm.

Part C) Recommendations for Sumitomo Heavy Industries

Sumitomo heavy industries has a mission and vision of providing quality products to their
customers in global arena, therefore, in providing value to customers, Sumitomo must always
maintain consistency to offer high quality products and services. Its products are known for high
durability and quality, which helps it build brand equity which cant be diluted at any cost.
In growing a profitable business, the company must continue generating profits. Sumitomo heavy
industry should keep a close watch on their bottom line while continuing to grow internationally
besides keeping financial soundness.
In developing and rewarding people, the business must benefit employees and business partners.
Company should design news programs for employee development and programs that support
business partners. Building a strong culture gives a company strength and thus, helps gain
competitive advantage.
In line with the Groups environmental policy, they are currently taking care to minimize the impact
of their activities on the areas around their plants, and are aggressively taking measures to promote
prevention of environmental pollution, reduction of generation of waste, and more widespread
energy-saving, resource-saving and recycling. But the need of implementation of more rigorous
policies and tools is required as the norms are getting stricter and if the company wishes to gain an
edge over others by incorporating it as a part of their extensive CSR policies.
In the next five years of operations, Sumitomo heavy industries can improve performance through
differentiation. The company must increase its investment in research and development to create
unique products. At present, the heavy equipment, engines and other products of Sumitomo heavy
industries are very similar to the ones available from competitors. To increase competitiveness, the
firm must invest more in developing novel products.
Sumitomo can also improve its financial performance by growing its distribution network in the
next five years of operation. The firm must focus on developing markets because these markets
have high economic growth rates. For example, the company can increase the number of Sumitomo
distributors in China and India.
They should focus on strengthening overseas businesses and alliances. They should strengthen their
networks of overseas sales and service centers, and ramping up production capacity in China and
other developing countries.
Increasing priority investments in growth businesses: They have made priority capital investments
in the area of precision control equipment and components in past and has boosted their growth

trajectory. Same can be done now i.e. company should analyze newer priority investment pits and
then aim to both increase the scale of sales and raise ROIC.
They need to take measures to improve efficiency by including information technology in the
construction and industrial machinery segments, to strengthen profitability. In shipbuilding, they
should adopt a strategy of specializing in medium-sized tankers and emphasize on profitability
rather than expanding scale of operations.

Conclusion
Sumitomo heavy industries have been very successful even during bad economic times owing to its quality
products, timely change in designs and latest product offerings. Management has really worked hard over
the years to achieve the targets and build brand equity by setting up short term and long term management
plans. Company has strong holding in the native country but now the company should concentrate on
growing in other countries as well. It has been running successfully in many nations but now it should
leverage cheap resources and high demands in developing countries like China and India. It should also
focus on its research and development efforts so that the wide product portfolio is maintained and further
expanded in future. It should also focus on developing stronger distribution networks in other countries.

References
1)
2)
3)
4)
5)
6)
7)
8)
9)

http://www.shi.co.jp/english/company/overview/index.html
http://www.shi.co.jp/english/company/history/index.html
http://dmliefer.ru/ru/content/sumitomo-reduktory-privody-zapchasti
http://www.researchandmarkets.com/reports/3333352/heavy-construction-equipment-market-bytype
http://panmore.com/caterpillar-inc-strategic-analysis-vision-mission-swot
http://www.shi.co.jp/english/ir/policy/philosophy/index.html
http://www.shi.co.jp/english/company/introduction/index.html
http://www.diva-portal.se/
http://www.shi.co.jp/english/ir/library/annual_report/pdf/ar14/14e_all.pdf

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