Investor Presentaiton
Upward Revision of the FY25 ROE Target
FY25 ROE target:
At the medium-term plan
announcement (11/2022)
Current revision
8.0%
≥10%
■Reason for the upward revision
✓ Considering both necessity for further improvement of return on capital from existing
businesses and the cost of capital expected by the market; ROE ≥ 10% must be achieved
■Direction of efforts aimed at achieving "ROE ≥ 10%":
1. Further enhance earnings and capital efficiency from existing businesses
2.
• Petroleum: Increase capacity utilization at refineries, increase earnings from overseas,
reduce capital investments, etc.
•
Functional materials: Leverage M&A, etc. to expand growing businesses
Businesses facing challenges: Achieve stable profits of NSRP and power/renewable energy
segment
•
Implement capital/financial strategy to enhance profitability
Pursue optimal financing balance, taking business risk, credit ratings, return on capital,
etc.
Improve shareholder returns (next slide)
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