Taiyo Nippon Sanso has publicised a new medium-term business plan as part of its long-term aim to boost sales to ¥1 trillion by fiscal year 2021. The new plan, entitled ‘Gear Up 10’ is a three year strategy.

According to TNSC, the company will need to meet its ‘ Triple 10’ medium to long term business targets. These incorporate gaining a 10% market share of the overall global market, an operating margin of 10% of higher, and a rate of Return on Capital Employment (ROCE) of 10% or higher.

In line with the new strategy, TNSC hopes to generate “longer-term corporate value following five specific tangents laid-out below.”

  1. Concentration of management resources in growth markets and regions
  2. Strengthening of upstream strategies
  3. Promotion of an M&A strategy
  4. Implementation of cost reductions
  5. Strengthening of Group management

 

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