Beruflich Dokumente
Kultur Dokumente
1,017,784
989,308
2.9%its989,308
989,308entails expanding
The Nippon Ham Group believes that shareholder-driven
management
ability to produce cash
953,616
flows and increasing ROE, which should boost corporate value.
We seek to boost ROE by pursuing growth strategies to enhance sales and profitability while deploying capital
strategies to generate capital returns. In addition, we look to bolster capital efficiency by enhancing asset
efficiency (asset turnover ratio).
We seek Enhancement of capital efficiency and optimization of efficient use of funds by balancing our business
strategies and our financial and capital strategies.
1,029,694
20113
Final year of
New Medium-Term Management
Plan Part III (Result)
ROE
ROE
17,769
20143
20.1%
ROE
over
8.0%
33,175
33,175
24,855
0.0
0.0
0.0
Expand earnings and margins
0.0
0.0
Goal
26,513
7.0%
4.1%
21,417
Capital strategy
and measures to
boost ROE
20133
Final year of
New Medium-Term Management
Plan Part IV (Target)
20123
0.0%
3
2010
2011
2012
2013
20143
3
3
3
Proactively expand
ROE
7
Improved
total
returns ratio
Minimum cash
dividend of
16 per share
Ratio of
Net income
attributable to
Nippon Meat
Packers, Inc.
2.0%
Total asset
turnover
1.8 times
Financial
leverage
1.95 times
Yoshihide Hata
Director and Managing Executive Officer
General Manager of Corporate Management Division, in charge of
Accounting & Finance Department and IT Strategy Department
24
Inventor
(Times)
41.5
40.2
40.5
3
38.4
1,017,784
1,029,694
2.9%
989,308
953,616
989,308
989,308
989,308
20103
20113
20123
Enhancement
of Capital
Efficiency and
Optimization
of Efficient Use of Funds
20133
We
20143
20153
33,175
33,175
4.0%
0.0
increase
capital efficiency.
17,769
24,855
0.0
0.0
0.0
0.0 promote interincome
and lower corporate tax rates. We will
and
our financial position.
In the fiscal year
ended
March 31,
3
3
2010
20113
2012
we acquired 16
increasing the
2013,
billion of treasury stock,
efficiency.
particular, value
we will
shorten
the inventory
and the
IncreasingIn
shareholder
through
shareholder
returns
and ROE
management
trade
receivable
turnover periods while improving our working
capital
cycle.
In the fiscal
ended March
Goals ofcash
Newconversion
Medium-Term
Management
Planyear
Part IV
Dividend
Improved
Minimum cash
Bypayout
overhauling supply
chain of
management and
totalimplementing
dividend
ratio of
returns ratiosuch mea16revamp
per share
other
reforms,
we
will
logistics,
employing
30%
sures as consolidating
inventories upstream and properly
Ratio of
Total
asset periods.
Financial
managing
inventories
to shorten
turnover
attributable
to
ROE
Net income
In7
keeping
turnover
Nippon Meat
Inc.
1.8
timesof
withPackers,
a management
policy
2.0%
leverage
1.95 times
Allocating
interest-bearing debt.
(Times)
(Days)
41.5
40.2
40.5
39.7
40.1
38.4
1.7
1.7
1.6
1.7
1.7
1.7
2010
2011
2012
2013
2008
2009
25