Capital, production and marketing strategies under the 10th Medium-Term Management Plan, “B-UP120”

「The Company will promote the effective use of management resources to maximize corporate value through the “implementation of strategic investments,” “reduction of cross-shareholdings,” “utilization of owned assets” and “shareholder returns” set out in the 11th Medium-Term Management Plan, “B-Challenge2025.”」

「In the final year of the 11th Medium-Term Management Plan, “B-Challenge2025,” the Group implemented three new growth strategies: domestic strategy, overseas strategy and VC (value chain) strategy.」

「TCC, which began full-scale operations in January 2024, will work to further improve productivity in order to support future sales growth.」

「The Group invested in the TATEBAYASHI Creation Center under the B-UP120 10th Medium-Term Management Plan to improve productivity, and the facility was completed in December 2023. The cumulative total investment was ¥8,537 million.」

「In the first year of the 11th Medium-Term Management Plan, “B-Challenge2025,” the Group set out the following three basic strategic themes and worked to review and transform its organization in anticipation of new growth.」

「The Company formulated the 11th Medium-Term Management Plan, “B-Challenge2025,” beginning in FY2023. … The consolidated management targets for FY2025 are net sales of ¥16 billion, operating income of ¥800 million, ordinary income of ¥1.4 billion, ROE of 5.0% and EBITDA of ¥2 billion.」

「In September 2022, BULL-DOG SAUCE CO.,LTD. celebrated its 120th anniversary. In the final year of the 10th Medium-Term Management Plan, “B-UP120” (fiscal 2020 to fiscal 2022), which aimed to maximize group strength and employee capabilities in order to strengthen the Group for its next stage of overseas expansion and business-domain expansion, the Company worked to achieve: ① Brush Up of its capital and financial strategy (energizing the circulation of funds), ② Brush Up of its production system (major investment to improve productivity), and ③ Brush Up of marketing (taking on untapped and underdeveloped areas).」

「Net cash used in investing activities was ¥3.278 billion, compared with ¥71 million in the same period of the previous year. This mainly reflected ¥3.829 billion in payments for the acquisition of property, plant and equipment.」

「In fiscal 2022, ブルドックソース will mark its 120th anniversary. To further develop the Group for its next new stage, overseas expansion and expansion of its business domains, it is pursuing the achievement of its goals under the 10th Medium-Term Management Plan, “B-UP120” (fiscal 2020–fiscal 2022), with the goal of maximizing the strength of the Group and its employees and the following basic policies: ① Capital and Financial Strategy Brush UP (activating the circulation of funds), ② Production Structure Brush UP (large-scale investment to improve productivity), and ③ Marketing Brush UP (taking on undeveloped and under-served areas).」

「The plan calls for constructing a new building on the site of the Company’s Tatebayashi Plant, adding and relocating the equipment required for consolidation, and transferring the functions of the research and development facilities at the Company’s Hatogaya Plant to the Tatebayashi Plant. The planned investment is ¥8.5 billion.」

「Regarding the rebuilding of the production system, one of the basic policies of the 10th Medium-Term Management Plan, the Board of Directors approved in September 2021 the “Basic Implementation Design for Rebuilding the Group’s Production System,” aimed at improving production efficiency, reducing labor requirements and environmental impact, and establishing a safe and stable production system.」

「The Company has formulated the 10th Medium-Term Management Plan, “B-UP120” (FY2020–FY2022), and is pursuing the following 3 basic policies with the goal of maximizing the strength of the Group and its employees: ① Brush Up the capital and financial strategy (invigorate the circulation of funds); ② Brush Up the production system (make large-scale investments to improve productivity); and ③ Brush Up marketing (take on the challenge of entering untapped and under-served areas).」

「Under the basic policy of the 3-year Medium-Term Management Plan, “B-UP120,” which began with the fiscal year ending March 2021, the Group is working to “maximize the strength of the Group and its employees in order to hone the Group’s capabilities toward a new stage on the occasion of the 120th anniversary of its founding.”」

「The 10th Medium-Term Management Plan, “B-UP120,” also sets targets for specific management indicators. In light of the impact of the COVID-19 pandemic on the Group’s performance, the targets for FY2020 are net sales of ¥17.8 billion, operating income of ¥670 million, ordinary income of ¥980 million and net income attributable to owners of the parent of ¥670 million. The basic policies of the 10th Medium-Term Management Plan, “B-UP120,” are as follows: ① Brush Up the capital and financial strategy: invigorate the circulation of funds; ② Brush Up the production system: make a large-scale investment totaling ¥8.4 billion to improve productivity; and ③ Brush Up marketing: take on the challenge of expanding into untapped and under-served areas.」