20212018201720162021201820172016202120182017201688.5106.2231.3JPY 380 billion1.111.075.2JPY 113 billion1103330Business EnvironmentBasic PoliciesExternal Environment• Continued growth in the areas of EAF steel, tires, and electronics• Continued tight supply in raw material for graphite electrodes and feedstock oil for carbon black • Uncertainty in semiconductor cycle• Trend toward stricter environmental regulations (China, IMO2020, EPA, etc.)• Deceleration of the Chinese economy• Acceleration of environmental changes in the global economyStrengthening the revenue base• Generating stable cash flow in core businesses• Post-merger integration for three acquisition projects(to build the optimal production structure)• Major renovation of facilities, environmental investmentKey Measures1 Generating stable cash flow in the graphite electrode business2 Integrated management of global carbon black plants3 Rebuilding the revenue model for the fine carbon business4 JPY 50 billion investment in growth areas5 Building and strengthening consolidated governance systemExpanding opportunities for growth• Enhance capabilities in growth areas by undertaking new capital investment• Optimizing business and product portfolios• Ongoing M&A and investment in strategic areas• Ongoing initiatives in strengthening technology developmentNet SalesOperating IncomeROSBuilding a consolidated governance structure• Head office re-organization and review of systems• Expanding functions of regional headquarters in North America• Securing and developing human resourcesInternal Environment• Building a consolidated governance structure commensurate with rapidly expanding businessQuantitative TargetsMedium-Term Management PlanT-2021(FY2021)JPY 380 billion (FY2021)JPY 113 billion %(FY2021)30 %16TOKAI CARBON ANNUAL REPORT 2018
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