Phase IV Theme and Financial Targets

We will tackle Phase IV (2015–2017) in the spirit of All for Growth—Focusing Our Energy on Growth. In that spirit, we will work to resolveissues that have arisen during the first three phases, to culminate Grand Design 100 on a positive note, and to set the stage for new progress in our company’s second century. Our work in the first three phases of Grand Design 100 fostered growth momentum and growth potential in individual units and in our organization overall. In Phase IV, we will strive to consolidate that momentum and potential with an eye to attaining annual net sales of ¥770.0 billion, annual operating income of ¥80.0 billion, and operating profit margin of 10.4% by 2017.

Phase IV Theme

All for GrowthFocusing our energy on growth

Phase IV Financial Targets for 2017

Net sales ¥770.0 billion
Operating income ¥80.0 billion
Op. profit margin 10.4%
Net ROA More than 5%
Net ROE More than 12%
D/E ratio Less than 0.8

ROA: Return on total assets;
ROE: return on equity;
D/E: debt/equity

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