Our Road Map

Nippon Sanso Holdings has formulated a new medium-term management plan, NS Vision 2026, covering the period from FYE2023 to FYE2026. The Company has set both financial and non-financial key performance indicators (KPIs), and has also announced the details of its activities for achieving them.


Our External Environment (Environment and Society)

The main features of our external environment are of climate impact, economic uncertainty, geopolitical instability, development of a digital society, and diversification of thinking and lifestyles. We are under pressure to respond to these changes.


Medium-term management plan NS Vision 2026, ending in FYE2026

Financial KPIs (FYE2026)

¥975 billion–¥1,000 billion*

Core Operating Profit
¥125 billion–¥135 billion*

≥ 24%

Japan, the United States, Europe, Asia and Oceania, Thermos:
≥ 17%–33%

Adjusted Net D/E Ratio
≤ 0.7 times

ROCE after Tax
≥ 6%

* Due to uncertainty in the global economy, revenue and core operating profit are shown in a range.

Non-Financial KPIs


Reduction rate of GHG emissions (Base year: FYE2019)
18% (FYE2026)  32% (FYE2031)

GHG reduced emissions through environmental product offer
Lower customer GHG emissions through environmental product offerings and applications > Our group GHG emissions (FYE2026)

Safety Management

Lost time injury rate
≤ 1.6 (FYE2026)


Rate of receiving compliance training
100% (FYE2026)

Human Resources

Rate of female employees
≥ 22% (FYE2026)
25% (FYE2031)

Rate of female management posts
≥ 18% (FYE2026)
22% (FYE2031)


Realizing carbon neutrality with gas technology

  • Further promoting energy savings
  • Increasing efficient use of energy
  • Promotion of the use of renewable energy and green power
  • Carbon capture and offsets

Value Creation Story

Under the medium-term management plan NS Vision 2026, our group has reaffirmed its understanding of the external environment. In our business activities, we will share our best practices in each region in pursuit of operational excellence, aiming to deliver both social value and economic value, and thereby increase our corporate value.

Realization of a Carbon-Neutral Society

Our group will contribute to the reduction of GHG emissions in its customers’ industries through environmental product offerings and solutions. We will strengthen initiatives to develop the necessary technologies to achieve this goal, and promote stronger collaboration with strategic partners on technologies that we lack. In parallel, we will strive to bolster our communication capabilities to ensure that our various stakeholders understand our initiatives.

Carbon Neutral Program

We are implementing two programs aimed at realizing carbon neutrality in 2050: Carbon Neutral ProgramⅠ, which is aimed at reducing the Company’s own GHG emissions, and Carbon Neutral Program Ⅱ, which aims to help customers lower their GHG emissions by providing them with solutions such as environmental product offerings, equipment, and services. Below, we introduce our provision of solutions under Carbon Neutral ProgramⅡ .

Exploring New Business Opportunities for a Carbon-Neutral Society (provision of solutions)

Gain some “Quick-Wins” carbon-neutral projects

  • Join or capture carbon-neutral projects in the steelmaking, glass, ceramics, aluminum, and non-ferrous metals markets
  • Acquire HyCO projects for a hydrogen society

R&D and strategic partners

  • Join various carbon-neutral projects and share knowledge within the Group
  • Find potential strategic partners
  • Increase resource investment into specialist R&D themes such as combustion technology, etc.

External/internal communication with all stakeholders

  • Establish communication platform
  • Enhance our presence through proactive efforts such as posting carbon-neutral activities on social media

Our group has already organized a global carbon-neutral working group to explore new business toward the realization of a carbon-neutral society. We will build up a track record in quick-win projects in fields where we can leverage our industrial gases and supply equipment and our development and engineering capabilities, while also promoting research and development and strengthening collaboration with strategic partners.
We will also establish a communication platform to disseminate information to stakeholders inside and outside the Group, aiming to capture new business opportunities. To this end, in September 2022 we established a dedicated website for carbon-neutral projects.

Case Studies
United States: Long-Term Hydrogen Supply Agreement for Renewable Fuels

Matheson Tri-Gas, Inc. (MTG) signed a long-term supply agreement to meet hydrogen requirements for renewable diesel production for a 75,000 bpd (barrel per day) refinery owned by Vertex Energy with hydrogen from an existing facility as well as newly generated hydrogen from renewable fuels.
MTG has an established long-term track record as a manufacturer and supplier of stable safe hydrogen. In this project, the feedstock for manufacturing hydrogen will not be fossil fuels, but renewable hydrocarbon fuels (including bionaphtha and other biofuels) produced as by-products from renewable fuel manufactured by Vertex Energy, making it possible to manufacture and supply hydrogen with an extremely low carbon footprint.
This agreement will be the first occasion for us to establish a HyCO plant that uses renewable hydrocarbon fuel as feedstock, demonstrating the Group’s commitment to the supply of industrial gases for commercially sound renewable energy projects toward carbon neutrality. Furthermore, the project also represents a significant additional dimension for the Group’s global HyCO footprint.