Carbon BlackIndustrial FurnacesFriction Materials* Dot size indicates the relative size of FY2018 operating incomeAnode MaterialsGrowth rateProfit marginHighLow24.0 billionOther (Friction materials, Anode materials)45.0 billionFine CarbonFine CarbonRevenue base businessesGrowth businessesBusinesses targeted for restructuring16.0 billionIndustrial Furnacesand Related ProductsGraphiteElectrodesHighbillionJPY 231.3billionJPY 380Carbon BlackJPY 76.9 billionFine CarbonJPY 25.4 billionIndustrial Furnacesand Related ProductsJPY 11.4 billion171.0 billionGraphite Electrodes124.0 billionCarbon BlackGraphite ElectrodesJPY 102.1 billionDirection of the Business PortfolioFY2018 Sales Breakdown (Actual)FY2021 Sales Breakdown Forecast (Reference)At present, graphite electrodes and carbon black account for approximately 80% of the Group’s sales. Ample cash flow arising from these two “revenue base businesses” will be applied to growth investments and development activities in our other businesses to diversify our earnings sources.Under our new medium-term management plan, implementation of which begins in 2019, we will undertake facility renovation and environmental investments to help ensure that our “revenue base businesses” continue to produce stable cash flows. In addition, we will embark on full-swing efforts to integrate the operations of the recently acquired North American graphite electrode and carbon black plants. This will be done by giving rise to sales and technology synergies that will lead to optimized production and sales, and even greater quality.For growth businesses, which include fine carbon, anode materials, and industrial furnaces, we aim to leverage technological advantages, and invest over JPY 50 billion in growth opportunities during the coming three years, to increase sales of high-value-added products. We will also maintain our emphasis on R&D, and consider M&A opportunities, in steadily promoting the development of next-generation products.Going forward, we will strive to achieve stable growth that is not overly dependent on a particular market. We will do this by maintaining strong performance in our core businesses, and supplying various industry sectors with products of even greater added value.Other (Friction materials, Anode materials)JPY 15.5 billion17TOKAI CARBON ANNUAL REPORT 2018Business ReportSustainability ReportFinancial ReportData SectionVision and Strategy
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