Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
NITTA CORPORATION
Medium- to Long-Term Business Plan ("MTBP") | |
Looking Back on SHIFT2030 Phase 1 (2021-24) | …… P.3 |
SHIFT2030 Phase 2 (2025-27) 1. Basic Strategy to Maximize Corporate Value | …… P.4 |
2. Qualitative Targets: Three SHIFTs | …… P.5 |
3. Quantitative Targets | …… P.6 |
4. Growth Strategy | …… P.8 |
5. Efforts to Create New Businesses | …… P.12 |
6. Efforts to Improve Capital Efficiency | …… P.13 |
7. Shareholder Return Policy | …… P.16 |
8. ESG Initiatives | …… P.17 |
NITTA CORPORATION
Contents
Phase 1 final year FY2024 target | FY2024 Results | Difference | |
Net sales (¥ billions) | 90.0 | 90.2 | +0.2 |
Operating income to sales (%) | 5.0 | 5.7 | +0.7 |
New product sales ratio (%) | 10.0 | 7.1 | -2.9 |
Overseas sales growth rate (%) *vs. FY20 | 130 | 143 | +13 |
Capital expenditure amount (¥ billions) Phase 1 cumulative | 21.8 | 18.7 | -3.1 |
Performance was strong during Phase 1 despite the uncertain business environment, including the COVID-19 pandemic, Russia's invasion of Ukraine, and the conflict in the Middle East. With the additional tailwind of yen depreciation, we achieve our main targets for net sales and operating income to sales.
(¥billion)
120.0
Overseas net sales
Domestic net sales
Operating income to sales
(%)
海外売上高
国内売上高
営業利益率
1,200
12.0
1,000
100.0
800
80.0
73.4
83.7 88.0 88.6 90.2
6.4
10.0
8.0
600
60.0
400
40.0
200
20.0
0
3.9
100% 125%
5.7
139%
5.0
133%
5.7
143%
6.0
4.0
2.0
0.0
FY2020 FY2021 FY2022 FY2023 FY2024
NITTA CORPORATION
実績
実績
実績
実績
実績見込
Results
Results
NITTA CORPORATION
Results Results Results
Looking Back on SHIFT2030 Phase 1 (2021-24)
To maximize corporate value, the Nitta Group will steadily implement the growth strategy identified in the SHIFT2030 medium- to long-term business plan and promote management focused on capital efficiency and shareholder returns.
Maximizing corporate value
Growth strategy
SHIFT INNOVATOR cored around manufacturing
Capital efficiency
NITTA CORPORATION
Promoting ROIC management
Allocating resources by optimizing business and product portfolios
Reducing cross shareholdings
Shareholder returns
(FY2023-FY2027)
Steady annual increases in dividends (of
at least 10 yen/share per year)
Payout ratio of at least 30%, dividends-on-equity (DOE) ratio of at least 2.5%
Flexible purchase of treasury shares
SHIFT2030 Phase 2 (2025-27)
1. Basic Strategy to Maximize Corporate Value
Continue with the qualitative targets set when SHIFT2030 was developed
1. SHIFT for Growth
Sustainably grow existing business Search for new business
Accelerate new product development
2. SHIFT for Corporate Value Enhancement
Enhance quality and total cost competitiveness Strengthen corporate governance and compliance Promote ESG and achieve the Goals of SDGs
3. SHIFT for Further Globalization
Further the global expansion of each business
Strengthen global support via the Corporate Section
NITTA CORPORATION
SHIFT2030 Phase 2 (2025-27)
2. Qualitative Targets : Three SHIFTs