Medium-Term Management Plan

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Third Medium-Term Management Plan (FY2024 to FY2026)

Long-Term Vision (Vision FY2033)

Achieve sustainable growth by contributing to society through the development and stable supply of mineral resources and by harnessing the collective strengths of the Group as an integrated mineral resources company.

Third Medium-Term Management Plan Basic Policy

• In adopting and using ROIC as a management indicator, we aim for its uptake and entrenchment down from the company to individual business segments and from individual business segments to individual business sites, as well as for improved capital efficiency
• Steady progress with Arqueros Mine development and achieve start of operations
• Initiatives to optimize limestone supply, centered on Torigatayama Quarry Complex
• Continue initiatives to develop new markets (limestone, Polytetsu)
• Secure and develop new resources, regardless of interest (major/minor) or approach (greenfield/brownfield)

Initiatives for Management Conscious of Cost of Capital and Share Price

• We have introduced ROIC as a management indicator and aim for its uptake and instilment not just by individual business segments but also at the level of individual business sites, so as to achieve a better business portfolio
• As part of initiatives for management conscious of cost of capital and share price, we are striving for P/B ratio of 1.0x by lowering cost of equity and enhancing IR activities
• For shareholder returns, we implement dividend payments targeting a consolidated payout ratio of 40%
  If the P/B ratio is under 1.0x as of the end of the fiscal year, the lower limit dividend value will be 3% of market value DOE, and if the P/B ratio is 1.0x or higher as of the end of the fiscal year, the lower limit dividend value will be 3% of DOE

Financial Indicators and Medium-To Long-Term Management Targets

Financial Indicators and Medium-To Long-Term Management Targets (1)

Financial Indicators and Medium-To Long-Term Management Targets (2)

Management Conscious of Cost of Capital and Share Price

Management Conscious of Cost of Capital and Share Price: Challenges and initiatives (1)

Management Conscious of Cost of Capital and Share Price: Challenges and initiatives (2)

Shareholder Returns Policy

Our core business, the mining industry, is an extremely long-term business, starting with research and development before moving on to subsequent operations spanning several decades or more. During that time, profits will vary due to changes in economic and business conditions, fluctuations in the price of resources, and other factors
In order to achieve sustained growth, we must be prepared for large-scale investment in the future, given not only the nature of our business, meaning the considerable size of investments for mine development and long investment recovery cycles, and the start of new mine development in light of mineral depletion at existing mines
As a result, our basic policy has been to pay stable dividends over the long term while maintaining an optimal balance between equity and shareholder returns

Related Materials

• FY2024-2026 Third Medium-Term Management Plan(1,304KB)
• [With Script]FY2024-2026 Third Medium-Term Management Plan(1,165KB)
• Information Regarding Changes to Shareholder Return Policy and Revision (Increase) to Dividend Forecast(105KB)