Theme of the Mid-Term Business Plan

Go for Next 100 Challenge toward Creation and Innovation -Toward the Next 100 Years-

The Nittobo Group has set the Mid-Term Business Plan < Go for Next 100> Challenge for Creation and Innovation -Toward the Next 100 Years- . The planning period between fiscal years 2017 and 2020 are important beginning stage for the achievement of "VISION 101" which set the target until FY2023.

Nittobo's Strengths

Glass Fibers Integrated development system and a wide variety of product lines from glass composition to final products to meet customer needs.
Life Science Integrated production and R&D system from antiserum, raw materials, to in-vitro diagnostics.
Textiles Capability to develop multilayer yarns with various functions.

Five Key Initiatives

Five Key Initiatives

Numerical targets

(Billion yen)

  FY2016   FY2020
Net sales 833.2 1,000
Operating profit 111.5 120
Ordinary profit 114.0 120
Current net profit 74.8 100
ROE (%) 9.8% 8% or more
Net interest-bearing debt 91 100 or less
Equity ratio 55.2% 60% or more
EBITDA 152.8 200
R&D/Sales ratio 1.50% 2.0% or more
Capital investment< br />(Accumulated total for 4 years) 172 550

This fiscal year's exchange rate forecast (JPY/US D) 108 yen=1 US dollar

100 yen= 1 US dollar

Numerical targets

We will build a foundation for growth by making a capital investment in the accumulated amount of about 55 billion yen in four years through the utilization of assets and operating cashflow of resources.

Numerical targets

Outstanding net interest-bearing debt

Financial Strategy and Policy on Shareholder Returns

  • We will allocate the funds obtained through the use of operating cashflow and assets to capital investment with a focus on growth investment.
  • We will reduce the net interest-bearing debt and provide shareholder returns in a well-balanced manner.
Financial Strategy and Policy on Shareholder Returns

Policy on Shareholder Returns

  • We develop a policy with a stable growth of dividends as a basis, taking the (performance-linked) dividend payout ratio into consideration.
  • We consider the flexible and resilient shareholder returns according to our financial situation.

Targeted trends in net sales, ordinary profit, and current net profit

Targeted trends in net sales, ordinary profit, and current net profit

Nittobo Group's record-high consolidated net sales is 194.4 billion yen achieved in 1990.