Creating a virtuous cycle of value creation with our unique invention award system

Creating new value is an important element in corporate activities, and the Intellectual Property Department is responsible for converting new value created by the company into intellectual property and increasing corporate value. In order to continue to obtain "good patents" and continue to create new value that leads the industry, we need to "acquire knowledge that will help people in the product planning and development department, which is the source of intellectual property creation." All department members held a discussion on the theme of "What are financial activities?"
We delved into the needs of the product planning and development department, held several brainstorming meetings, and all department members came up with ideas for measures, from which the concept of an ``invention award'' system emerged.
By creating a culture where everyone praises those who create new value, we want to create a virtuous cycle of value creation. With this in mind, we decided to establish the "Invention Award System."

In December 2022, we started the "Invention Award System". This system awards novel "inventions" (with innovation, originality, etc.) that can increase corporate value from "patent applications" related to new products that have recently been released. Winners are presented with cash vouchers as an incentive.
In order to "create a culture in which everyone praises people who have created new value," we believe that it is too late to award an award several years after an invention, but rather to award an award at the most opportune time. The object of the award is not a ``patent,'' but an ``invention,'' which refers to a technical idea.

In December 2022, when this system was launched, two inventions were recognized and publicized internally. Through this system, we aim to increase the number of excellent "inventions" in the future, and for ITOKI to become a company that "continues to create things that don't exist in the world." We will continue our efforts to increase the motivation of our internal development departments, promote innovation, and contribute to a valuable future for the company and society.