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Mitsubishi Chemical Holdings Corporation has formulated APTSIS 15, a five-year management plan through fiscal 2015. This new initiative is designed to foster growth, innovation, and a leap ahead by orchestrating the Group' s strengths.
Through APTSIS 15, MCHC is committed to running its business in a way that delivers KAITEKI solutions by putting the infinite potential of 'Good Chemistry' to work. This plan will retain the decision criteria set in APTSIS 10 in the drive to create a portfolio of high-performance, high-value-added businesses, while sustainably increasing corporate value.
The new plan retains the growth, innovation, and leap ahead (M&A) strategies of APTSIS 10. The portfolio categories are next-generation growth business, growth business, cash-generating business, and business to be restructured.
(Unit: Billions of yen, otherwise noted)
| Results forecasts for fiscal 2010 |
Targets for fiscal 2012 |
Targets for fiscal 2015 |
|
| Operating income | ¥203 billion | ¥230 billion | ¥400 billion |
| Growth and innovation | - | - | ¥330 billion |
| Leaping ahead (M&A) | - | - | ¥70 billion |
| ROA* | 4.6% | - | ≧ 8%以上 |
| Net debt-to-equity ratio | - | - | 1.0 |
| Overseas sales ratio | 34% | - | ≧ 45% |
*ROA is calculated as income before income taxes and minority interests in consolidated subsidiaries
divided by average total assets.
| Assumptions | Results forecasts for fiscal 2010 |
Fiscal 2011 - 2012 |
Fiscal 2013 - 2015 |
| Naphtha price | ¥45,600/kl | ¥50,000/kl | ¥55,000/kl |
| FOREX | ¥85/US$ | ¥80/US$ | |
(Unit: Billions of yen)
| Business domain/Segment | Results forecasts for fiscal 2010 |
Targets for fiscal 2012 |
Targets for fiscal 2015 |
| Performance Products | 42 | 66 | 130 |
| Electronics Applications | 4 | 12 | 30 |
| Designed Materials | 38 | 54 | 100 |
| Health Care | 77 | 79 | 120 |
| Industrial Materials | 89 | 83 | 105 |
| Chemicals | 44 | 35 | 35 |
| Polymers | 45 | 48 | 70 |
| Others | 3 | 7 | 10 |
| Corporate | (8) | (5) | (5) |
| Contingency | - | - | (30) |
| Subtotal | 203 | 230 | 330 |
| Operating income by leaping ahead (M&A) |
- | - | 70 |
| Total | 203 | 230 | 400 |
| Net sales | 3,190 | 3,600 | 4,200 |
| Net sales by leaping ahead (M&A) | - | - | 800 |
| Total | 3,190 | 3,600 | 5,000 |
Invest decisively to realize growth and innovation during the next five years.
(Unit: Billions of yen)
| Business domain/Segment | Investments (Planned investments) |
R&D |
| Performance Products | 440 | 210 |
| Electronics Applications | 120 | 70 |
| Designed Materials | 320 | 140 |
| Health Care | 150 | 410 |
| Industrial Materials | 320 | 90 |
| Chemicals | 120 | 30 |
| Polymers | 200 | 60 |
| Corporate, and others | 90 | 40 |
| Total | 1,000 | 750 |
Excluding resource allocation for leaping ahead (M&A)
Basic concept: "Grow, Innovate, and Leap Ahead by orchestrating the Group' s strengths"
Generate synergies, improve financial position, and reform business structure.
Accelerate transformation to high-performance and high-value-added business portfolio by orchestrating the Group strengths.
Accelerate launch of new growth drivers.
Strategically allocate resources in alliances and acquisitions to expand businesses. Policies and priority areas are shown below.
Accelerate launch of green businesses, pursue further value-added, and reach out to global markets.
| ◇ | Functional composite materials | |
| ◇ | High-performance molding products | |
| ◇ | Specialty chemicals |
| ◇ | White LED lighting materials | |
| ◇ | Lithium-ion battery materials |
| ◇ | FPD components | |
| ◇ | Water treatment system and services |
| ◇ | OPV modules and materials | |
| ◇ | Organic photo semiconductors | |
| ◇ | Advanced performance products | |
| ◇ | Agribusiness solutions |
| ◇ | Recording media | |
| ◇ | Performance films (Films and packaging containers) | |
| ◇ | Food ingredients |
Accelerate to be a global research-driven pharmaceutical company and deliver healthcare solutions.
| ◇ | Diagnostics and support for new pharmaceutical development | |
| ◇ | Generics |
Transform to profitable portfolio driven by accelerated global operation, shift to high-performance products, and implementation of optimized product chain.
| ◇ | MMA and PMMA | |
| ◇ | Performance polymers | |
| ◇ | High-performance graphite |
| ◇ | Sustainable resources |
| ◇ | Stabilize operations and minimize environmental impact | |
| ◇ | Reinforce business structure by leveraging high-value-added products, expanding knowledge business and improving process technologies: purified terephthalic acid, coke, polypropylene, phleomycin, bisphenol-A, and polycarbonate |
| ◇ | Derivatives | ||
| 1) | Expand high-value added product line and take countermeasures | ||
| 2) | Further optimization with partners | ||
| ◇ | Crackers (Mizushima) | ||
| 1) | Unify naphtha cracker operations with Asahi Kasei and downsize capacity | ||
| 2) | Consider a single cracker with Asahi Kasei and collaboration with refineries | ||
| ◇ | Crackers (Kashima) | ||
| 1) | Increase competitiveness through regional partnership | ||
| 2) | Further restructuring, including collaboration with refineries | ||
Expand overseas sales ratio and operating income margin (fiscal 2010 vs. fiscal 2015).
Overseas sales ratio: From 34% to 45%
Overseas operating income margin: From 26% to 50%
Plan to generate major synergies of ¥5 billion in fiscal 2012 and ¥15 billion in fiscal 2015 in carbon fibers and composites, water treatment, specialty chemicals, and others.
Plan to generate cost synergies of ¥6 billion in fiscal 2012 and ¥28 billion in fiscal 2015 in purchasing, logistics, IT, and R&D.
Expect to generate synergies of ¥11 billion in fiscal 2012 and ¥43 billion in fiscal 2015 in total.
Implement KAITEKI indexes, including the Sustainability index, Health index, and Comfort index that MCHC has developed as part of its business management to monitor progress and manage plan-do-check-act cycles. Here are some concrete examples:
| Dec. 8, 2010 | APTSIS 15 | |
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[PDF: 2.06mb] | |
| Transcript | [PDF: 53.0kb] | |
