"I want my clients to feel the emotions of their photos as soon as possible." That was how Kan'ichi Nishimoto, the founder of the company, felt as he ran a photo studio in post-war Wakayama Prefecture. Those feelings led him to invent an automatic photo print washer by applying the principles behind a water wheel. It was a groundbreaking invention that shortened film developing time and removed the fear of power outages, completely overturning the existing mindset that expected photo development to take a lot of time and energy. In no time at all it had become a top-selling product. Using his invention as the catalyst, Kan'ichi Nishimoto established the Noritsu Optical Machinery Works Limited. The foundations of this company were built on the manufacturing of photo processing devices.

Through the development of the RF−20E black-and-white film processor, the company succeeded in automating the black-and-white film development process for the first time in the world. We also changed the company name and organizational structure from Noritsu Optical Machinery Works Limited to Noritsu Koki Co., Ltd. (the current name of the company) to make it easier to expand into different business areas. The company's market share rose swiftly, sustained by the founder's ambitions of "Always become the best in every field we enter" and "Always keep making first-class products" and the popularization of photography brought about by rapid economic growth. The desire to expand overseas led to further business development.

There was a time when the process of developing color film took almost a week from the time the customer placed the order at the store to the development process to the time the prints were finally handed to the customer. As color photos gained popularity, the need for faster processing times rose increased day by day. Thus the development of technology that could automate systems and speed up processing began. After much trial and error, the QSS-1 model Automatic System (the origin of the MiniLab) was developed, which consolidated the whole process from development to printing. The idea of development in only 45 minutes revolutionized the fundamental concept behind photo processing machinery at the time. Three years later, the QSS-2 was completed. It was equipped with a computer which could control color development and other aspects of the system. The QSS-2 became the driving force that propelled the company to launch in America and make great strides overseas.

In the 2000s, the market for the company's products shrank substantially due to the industry's shift towards digitization. The imaging department faced an existential crisis. In addition, founder Kan'ichi Nishimoto passed away in 2005. Management found itself standing at a major crossroads, a time of great upheaval with the company's very survival on the line. At that time, we decided to turn the company around by returning to our founding principles. We started by thinking in reverse, figuring out what fields modern society needed and creating businesses in those areas. We began expanding into different business areas through aggressive acquisitions.

After the company headquarters moved from Wakayama city in Wakayama Prefecture to Minato-ku, Tokyo in 2015, we decided to sell our original photo processing device business while bringing new companies into the Group through a series of acquisitions. We headed full speed into fields that promised solutions to various issues facing modern society without clinging to the status quo.

In an era of rapid change, the next growth strategy is required. Based on our vision of continuing to produce "No. 1/Only 1" businesses, we began realigning the diverse businesses that entered the Group through acquisitions and consolidating our core businesses. Guided by the ambition of our founder to "create things that people need and things that make people happy," we are aiming to become a business entity that will be the very foundation of society. AlphaTheta, the global leader in the manufacture and sale of DJ equipment, joined the Group in April 2020, followed in May 2021 by JLab, the top player in the U.S. market for under-US$100 earphones and headphones, and we redefined manufacturing as our core business. We have now entered a period of reform, consolidating the uniqueness of our businesses and management resources to create a framework that offers stability and growth potential even in an environment made chaotic by COVID-19 and other adversities.

Through rapid business restructuring, we are reinforcing the Group's sustainability activities aimed at the co-creation of a sustainable society. To meet the expectations of our stakeholders, we have identified key social issues the Group should address. Regarding business growth, we will formulate a Medium-Term Management Plan for the new stage, centered on our core manufacturing business. While carrying on with the pursuit of "No. 1/Only 1" businesses, we will continue to take on the challenge of maximizing corporate value through the growth of individual businesses and across the entire Group.