MITSUI E&S Group (the "Group") has already achieved the final targets of "Mid-Term Business Plan 2023," which were announced in May 2022, in the previous fiscal year ended March 31, 2024, significantly ahead of the original schedule. With that fact, MITSUI E&S Co., Ltd. (the "Company") hereby announces that the Group has formulated its brand-new mid-term business plan, "MITSUI E&S Rolling Vision 2024."
1.Background of the Formulation of MITSUI E&S Rolling Vision 2024
The Group has completed its Business Revival Plan and is making steady progress toward healthier financial structure and better profitability, and the Group's business foundation has improved significantly since the time of the formulation of the Mid-Term Business Plan 2023.
On the other hand, the business environment surrounding the Company is changing significantly and rapidly such as foreign exchange rates and market conditions. In order to strengthen our business foundation and in light of the rapidly changing business environment, the Group has formulated MITSUI E&S Rolling Vision 2024 as a rolling method that depicts the Group's continuous growth and will be constantly updated rather than fixed for the next three years. Under this plan, the Group will seek to realize the continuous growth and increase corporate value, responding flexibly to changes in the environment.
2. Overview of MITSUI E&S Rolling Vision 2024
| Actual resultsfor FY2023 | Numerical targetfor FY2024 | Numerical targetfor FY2026 | |
|---|---|---|---|
| New orders intake | Billions of yen 337.0 |
Billions of yen 330.0 |
Billions of yen 360.0 |
| Net sales | 301.9 | 300.0 | 340.0 |
| Operating income Operating income ratio |
19.6 6.5% |
17.0 5.7% |
22.0 6.5% |
| Interest-bearing debt | 162.0 | 100.0 | 100.0 |
| Equity ratio | 30.4％ | 37％ | 40％ |
Aiming for： ROIC *1 > WACC *2 (targets: ROIC > 8%, ROE > 10%, and PBR *3 > 1.0)
*1 ROIC: Return On Invested Capital, *2 WACC: Weighted Average Cost of Capital, *3 PBR: Price-to-Book Ratio
The Group will strive to increase corporate value by shifting to Cost of Equity and Cost of Debt Conscious Management from operating income ratio conscious management, aiming for ROIC over WACC.
For details, please refer to "MITSUI E&S Rolling Vision 2024."
MITSUI E&S Rolling Vision 2024(PDF 908KB)
MITSUI E&S Co., Ltd. (Headquarters: Chuo-ku, Tokyo, President: Takeyuki Takahashi, hereinafter "MITSUI E&S") is pleased to announce that it has received the following rating from Japan Credit Rating Agency, Ltd. (JCR).
| Previous | Latest | |
| Long-term Issuer Rating | BB+ | BBB- |
| Outlook | Stable | Positive |
| CP | J-3 | J-2 |
4th July 2024
Japan Credit Rating Agency, Ltd. (JCR)
For more detailed information, please refer to the following link (Japan Credit Rating Agency, Ltd. (JCR). Website) ：https://www.jcr.co.jp/en/ratinglist/corp/7003
Contact details for this Information Internal Control Sect, Corporate Planning Department Tel: +81-3-3544-3147