Medium Term Management Plan "Revival Plan 24 (RP24)"

Main Initiatives and Financial Targets of RP24

  1. 1. Main Initiatives of RP24

    In RP24, we will execute the following "Three Reforms" and "Two Key Initiatives" decisively and build business strength to sustain the cycle of growth

    Three Reforms:

    (1) Cost structure reform Fundamental cost structure reform including headcount reduction, fixed cost reduction and procurement cost reduction will be executed to lower the cost base further
    (2) Business structure reform Expansion of value-added business, development of new growth businesses, and emphasis on investment and asset efficiency to transform business structure and sustain the cycle of growth
    (3) Corporate culture reform Value "customer focus", "swift decision making and action" and "overcoming difficulties", and transform into a company group that never fails to take up challenges and follow through to deliver results

    Two Key Initiatives:

    (1) Restoration of financial stability
    • Focus of growth investment on strategically core businesses and selectively allocate and prioritize other capital expenditure
    • Thorough review of cost and improvement of productivity to build a robust business that can generate profit and free cash flow constantly
    • Generation of free cashflow and net profit aiming to enhance equity, while proactively reviewing further enhancement of equity from a longer term viewpoint
    (2) Transformation into more profitable business portfolio
    • Bold strategic review of shrinking or exiting non-core businesses
    • Focus of management resources on growth and high value-added areas, considering investment and asset efficiency
    • Business profitability improvement and management cost reduction to establish the cycle of sustained growth
  2. 2. Financial targets for the final year of RP24 (FY2024) are as follows:

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