TIDM17NX
RNS Number : 9510K
Mitsubishi Corporation
10 May 2022
Midterm Corporate Strategy 2024
Creating MC Shared Value (MCSV)
MC has announced its new three-year management plan, entitled
"Midterm Corporate Strategy 2024 - Creating MC Shared Value."
In recent years, escalating geopolitical risk has created
greater uncertainty throughout our operating environment; a
challenge that is being compounded by the restructuring of global
supply chains as well as the progress of digitalization and
decarbonization. These increasingly diverse and complex societal
and industry needs call for keen foresight.
Midterm Corporate Strategy 2024 will organically connect
intelligence that takes advantage of our far-reaching industry
expertise and global network, thereby strengthening the unique and
collective capabilities of the MC Group.
1. Our Goals Under Midterm Corporate Strategy 2024
MC will strive to continuously create significant shared value,
MCSV, by enhancing the MC Group's collective capability to address
societal challenges.
2. Quantitative Targets and Shareholder Returns
Quantitative Targets
Under Midterm Corporate Strategy 2024, MC will aim for
double-digit ROE and steady earnings growth that is impervious to
market fluctuations. This shall be achieved by maintaining a sound
profit base while investing in Energy Transformation (EX), Digital
Transformation (DX) and other growth areas.
Shareholder Returns
MC's basic policy on shareholder returns is to maintain a
progressive dividend scheme, whereby the company increases its
dividend in response to its sustainable earnings growth. Our policy
is designed to balance financial soundness, stable dividend growth
and market expectations on shareholder returns.
Cash Flow (CF) and Capital Allocation
MC will strategically allocate funds to investments and
shareholder returns in a manner that both maintains its financial
discipline and enhances its enterprise value. MC will also work to
lower its cost of capital by enhancing stakeholder confidence
through dialogue and expanded disclosure.
Investment Plan and Business Portfolio
MC plans to invest three trillion yen over the course of Midterm
Corporate Strategy 2024 to accelerate investments in EX and
steadily expand its earnings base along with investments in both DX
and growth fields.
3. Leveraging Connectivity to Maximize the MC Group's Collective
Capabilities
Growth Strategies [Leading Transformations and Connecting them
to Growth]
--EX Strategy: MC will work with its partners to help society
decarbonize and improve industry competitiveness while maintaining
a holistic view of the EX value chain.
--DX Strategy: MC will broadly deploy its DX capabilities across
its diverse business operations, thereby connecting industries,
enterprises and communities. In this manner, MC will help to raise
productivity and create sustainable value throughout society. To
facilitate those efforts, we have established a new internal
organization called the "Industry DX Group," which will focus on
progressing DX strategies.
--Creating a New Future: MC will work with its partners, the
local municipalities and all members of society not only to help
create a brighter future for everyone, but also to boost Japan's
self-sufficiency rates of energy and food through active
development of renewable energy and other local energy sources. We
will also focus on establishing new carbon neutral industries and
developing vibrant communities by helping to resolve regional
issues.
Business Management [Connecting Our Businesses to the Future
with Disciplined Growth]
Under Midterm Corporate Strategy 2024, MC will develop systems
that encourage its business groups to be both disciplined and
proactive about strengthening their management practices.
Furthermore, by expediting work to refine a value-added cyclical
growth model that is capable of constantly adapting to changes in
our operating environment, we remain committed to maintaining and
improving our capital efficiency and ensuring our financial
soundness.
Management Mechanisms [Connecting Diverse Sources of
Intelligence]
In addition to the Industry DX Group, MC will newly establish
the "Global Intelligence (GI) Committee," which will focus on
making MC even more adaptable to its constantly evolving external
operating environment. The GI Committee's analyses shall be
reflected in matters tabled by the "MC Shared Value (MCSV) Forum"
the function of which is to discuss and plan companywide strategies
that can be adopted across different industries. This work will
help to strengthen the business groups' development capabilities
and cross-industry connections.
HR Policy [Creating a Vibrant Organization by Interconnecting a
Diverse and Versatile Talent Pool]
MC's HR policy under Midterm Corporate Strategy 2024 shall focus
on creating a corporate culture that embraces diversity. Through
the strategic allocation of our human resources, we will strive to
invigorate and unlock the full potential of our organization.
Sustainability Policy [Interconnecting with Diverse Stakeholders
and Reinforcing Our Presence as a Trusted Member of Society]
MC's unique definition of "materiality" covers a set of crucial
societal issues to address through its business activities. In
addition to classifying our businesses based on climate transition
risks and opportunities, we will monitor their progress and work to
decarbonize them through various measures.
http://www.rns-pdf.londonstockexchange.com/rns/9510K_1-2022-5-10.pdf
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