Mid-Term Business Plan

Achieving Our Mid-Term Business Plan

Management Strategy

Strengthen our earnings foundation and take on challenges in our three domains
  • Get back to fundamentals and rely on the Toyotsu Core Values to achieve growth
  • Reallocate limited managerial resources

Investment Policy

Increase returns on investment by rigorously employing quantitative benchmarks
  • Selective investment within operating cash flow
  • Focus on project proposals that allow us to assert our characteristic strengths

Financial Policy

Strengthen cash flow management
  • Reduce interest-bearing debt
  • Increase shareholder returns (dividends) in stages

Mid-Term Business Plan: Quantitative Targets

(Billion yen)

  IFRS
  FY2016 FY2017
plan
FY2019
targets
PL Profit 107.9 110.0 130.0
BS Total assets 4,212.0 4,300.0 4,600.0
CF Free cash flow +32.2 - -
Financial
metrics
ROE 10.8% 10% 10~13%
Net interest-bearing debt 1,101.9 1,080.0 1,100.0
Net D/E ratio 1.0 - ≤ 1.0
RA:RB 0.9 - < 1.0
ROE
10~13%
Be cognizant of cost of capital and endeavor to efficiently deploy shareholders' equity
Net D/E ratio ≤ 1.0 Achieve positive free cash flow and restrain growth in interestbearing debt (but net D/E ratio may temporarily rise above 1.0 when we undertake large investments)
RA/RB < 1.0 Maintain stable and sound financial condition by focusing on balance between equity and asset-specific risk exposures

Mid-Term Business - Stairs of net income -

(Billion yen)
Mid-Term Business - Stairs of net income -