Within the selection and concentration that we perform in our core businesses of mineral resources, smelting and refining, and materials, we carry out priority allocation of research and development costs, and position smelting and refining process technology, powder synthesis and surface treatment technology, crystal growth and processing technology, and exploration, mining, and mineral processing technologies as core technologies.
We also consider analysis technology, computer aided engineering and analysis technology and information and communications technology (ICT) as fundamental technologies, and are carrying out focused development on clearly defined technology domains. Specifically, we are undertaking mineral resource development and further process/technology development in the field of non-ferrous metals smelting and refining, and, in the materials field, are focusing on materials and new technology development in the environment/energy fields and the information and communications fields, where great societal need exists.
We perform research and development after clearly defining the scale of our sales targets for new products, an approach that is generating results. We are also undertaking basic research on powder materials in order to acquire new technologies in this area with an eye toward the future.
Sustainable growth of our business requires the strengthening of our new product development capabilities. Particularly in the Materials business field, where short product life cycles prevail, we must continuously bring compelling new products to the market.
We carefully watch market and technology trends, draft research and development strategies from a long-term perspective that takes product life cycles and the emergence of innovative technologies into account, and engage in selection and concentration of research and development themes. We will focus our efforts on not only the development themes that lie before us but also on basic research in the powder materials field.