Tokyo, Japan, March 25, 2026 — Toray Industries, Inc., made three major announcements today, revealing its TORAY VISION 2050, its new Long-Term Management Strategy, TORAY Challenges 2035, and its new Medium-Term Management Program, IGNITION 2028. The first, TORAY VISION 2050, includes an update and name change to the previously issued Toray Group Sustainability Vision, with revised content on the world that Toray envisions in 2050. To fulfill the new vision, the company has also developed TORAY Challenges 2035, its long-term management strategy through the year 2035, in anticipation of major changes in the business environment and trends over the next decade and their long-term impact on the Toray Group. For the first three-year period under TORAY Challenges 2035, Toray is launching IGNITION 2028, its medium-term management program covering the key initiatives it will take from April 2026 to March 2029.

Under TORAY VISION 2050, Toray aims by the year 2050 to help build: “a world where people live in harmony with the planet, resources are recycled, and nature regenerates,” “a world where prosperity is created and shared in safe and secure societies,” and “a world where everyone lives in health and comfort.” To help fulfill this vision, TORAY Challenges 2035 sets forth five initiatives: “achieve steady growth and create new momentum in next-generation markets,” “transform business models,” “strengthen genba-ryoku (workplace competency) and enhance supply chain resilience,” “reinforce mechanisms for value creation through digital transformation,” and “strengthen management foundation by focusing on human resources management.” In a time of increasing uncertainty, Toray plans to turn risks into opportunities by pursuing business transformation and will create value by fully leveraging all the worldwide assets it has developed over many years. The phrase “Weaving Science into Society” encapsulates Toray’s ambition for 2035 and is the goal of TORAY Challenges 2035. It expresses Toray’s conviction that, as a leader in the materials industry, Toray can create maximum value only when its innovations are fully applied throughout society. The phrase reflects Toray’s commitment to closely linking Toray science — not just materials but also R&D, production, engineering, and marketing — with social issues and needs, then applying that science practically to benefit the world, thereby transforming Toray’s strengths into essential value.

IGNITION 2028 is built on the achievements of the preceding Medium-Term Management Program, Project AP-G 2025. It sets out the company’s tasks for the three years from April 2026 to March 2029, the first period under TORAY Challenges 2035. The name “IGNITION” conveys the intention to reignite growth and push through limits to reach new heights. Toray will review its business portfolio and restructure business segments to pursue business operations with greater clarity on growth potential and strategic direction, while further concentrating management resources on areas driving medium- to long-term growth. Beyond simply scaling up, Toray will leverage human resource development and digital transformation (DX) to create added value, enhance competitiveness, and transform its business, thereby pursuing improvements in both the quality and confidence of growth. As a basic policy, Toray aims to increase economic value by promoting growth strategies and structural reforms with equal intensity, based on an approach that positions ROIC as a core management principle. At the same time, the company will enhance social value by providing solutions to environmental and social issues through its businesses, while also reducing environmental impact. Additionally, the company will strengthen its management foundation by ensuring safety, preventing accidents, preserving the environment, practicing people-centered management, advancing risk management, fulfilling ethics and compliance, capitalizing on intellectual property and intangible assets, promoting a stronger brand, and leveraging both DX and AI.

Under IGNITION 2028, Toray aims for ROIC of about 7% and ROE of about 8% in fiscal year 2028. Supporting these goals in that year are projected revenue of 3 trillion yen and core operating income of 230 billion yen, for a healthy balance between growth and profitability. The goal for the core operating margin is 8%.

IGNITION 2028 will serve as a milestone on the road to fulfilling TORAY VISION 2050 and will position the company to achieve the targets under TORAY Challenges 2035. For these next three years, Toray will be laser-focused on raising the quality and confidence of both growth strategy and structural reform, working hard to become a truly sustainable enterprise.