Medium-term Management Plan

Three-year plan

We have created a new three-year Medium-Term Management Plan "Creative Evolution 2020", from FY2018/3 to FY2020/3. We have set "support continuous growth of core businesses in ways that further increase corporate value while constructing a base for growth areas" as a basic policy , and we will determine its ideal state in the present business environment, and aim to create corporate and social value. We will achieve this goal by continuing to grow the core businesses, as well as build a strong growth business structure for future growth.

Medium-Term Management Plan: Key Points and Strategy

Numerical targets

We aim for a three-year total growth in net sales of +54.6 billion yen (average +3.5% per year), operating profit of +3.2 billion yen (average +4.6% per year), and adjusted net income +1.6 billion yen.

Numerical Targets (consolidated)

(Billions of yen)

(Previous plan)*4
(Revised forecast)*5
Sales 540.0 530.8 553.0 510.0~516.0 575.0
Operating profit 23.5 22.9 24.5 7.5~10.5 26.0
Net income 14.2 14.8 15.0 -40.0~-38.0 16.0
Adjusted net income *1 18.4 14.2 19.0 -35.0~-34.0 20.0
ROIC *2 - 7.5% 8% TBD 8%~10%
Adjusted ROE *3 - 9.0% 11% TBD Maintain 12%

The Leopalace21 Group expects to reverse deferred tax assets during the span of the "Creative Evolution 2020" medium-term management plan; management indicators are calculated based on normalized earnings that exclude one-off gains or losses.

  • *1 Adjusted net income = Net income after adding (subtracting) corporate taxes
  • *2 Return on invested capital (ROIC) = Net operating profit after taxes (NOPLAT) /Interest-bearing debt + Net assets
  • *3 Adjusted ROE = Adjusted net income / Average net assets (average of period-start and period-end net assets)
  • *4 "2019/3 (FY2018) (Previous plan)" are forecasted figures announced on May 11, 2018
  • *5 "2019/3 (FY2018) (Revised forecast)" reflects the revisions to earnings forecasts announced on February 7, 2019

More information about Leopalace21's growth strategy

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FY March 2019

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    June 27,2019(Plan)
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