Accelerating Growth Through the Fourth Medium-Term Business Plan “GEAR UP”
First written in FY2021. 5 of 10 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2025: 3 of 12 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2024Failure to achieve the numerical targets of the Fourth Medium-Term Business Plan confirmedAnnual report
「On the other hand, the targets in the Fourth Medium-Term Business Plan were not achieved because the company was unable to fully absorb the deterioration in manufacturing costs, including raw material and fuel prices, and because assumptions such as the assumed exchange rate diverged from expectations.」
In the final year of the Fourth Medium-Term Business Plan, actual results were net sales of ¥671.7 billion, operating profit of ¥14.4 billion, an operating margin of 2.1%, ROE of 1.9%, and a net debt-to-equity ratio of 1.5x, below the targets of ¥720 billion in net sales, ¥51 billion in operating profit, ROE of at least 10%, and a net debt-to-equity ratio of 1.0x. - FY2024-Q3SoftenedAnnual report
「The current consolidated fiscal year is the final year of the Group’s Fourth Medium-Term Business Plan, a three-year plan covering fiscal 2021 through fiscal 2023. Although consolidated results are on a recovery trajectory from the previous consolidated fiscal year, a gap from the original numerical plan is expected.」
The company explicitly stated that, although results are on a recovery trajectory in the final year of the Fourth Medium-Term Business Plan, a gap from the original numerical plan is expected. - FY2024-Q2RestatedAnnual report
「For the Group, the current consolidated fiscal year is the final year of the Fourth Medium-Term Business Plan, a three-year plan covering fiscal 2021 through fiscal 2023.」
The company reaffirmed that the Fourth Medium-Term Business Plan is in its final year and is pursuing a business transformation and the establishment of a resilient business portfolio. - FY2024-Q1RestatedAnnual report
「For the Group, the current consolidated fiscal year is the final year of the Fourth Medium-Term Business Plan, a three-year plan covering fiscal 2021 through fiscal 2023, “GEAR UP: Next Growth, A New Future” (announced in May 2021).」
The company confirmed that the Fourth Medium-Term Business Plan had entered its final year and set out a recovery in results through maintaining selling prices, reviewing the energy mix and production framework, and reducing costs, including through labor saving. - FY2023-Q2RestatedAnnual report
「Assuming that the current challenging business environment will continue for the time being, we will accelerate structural reforms in the Paper and Paperboard Business and Home & Personal Care Business by streamlining our organizational and staffing structures, reviewing our production framework, and pursuing further cost reductions to secure stable earnings even under these conditions.」
The company reaffirmed the direction of the structural reforms related to the Fourth Medium-Term Business Plan: streamlining the organizational and staffing structures, reviewing the production framework, and accelerating structural reforms across both segments. - FY2023-Q1RestatedAnnual report
「Under the Fourth Medium-Term Business Plan, “GEAR UP: Next Growth, A New Future” (announced on 27 May 2021), we are accelerating structural reforms spanning the Paper and Paperboard Business and Home & Personal Care Business and the establishment of a resilient business portfolio. This includes expanding the Kani Mill, acquiring land for a new plant to develop higher-value-added products, and constructing equipment at the Mishima Mill for in-house production of fluff pulp.」
Under the Fourth Medium-Term Business Plan, the company is continuing and accelerating cross-business structural reforms through expansion of the Kani Mill, acquisition of land for a new plant, and in-house production of fluff pulp. - FY2022AdvancedAnnual report
「From the current consolidated fiscal year, we launched the new three-year plan, the Fourth Medium-Term Business Plan, “GEAR UP: Next Growth, A New Future” (May 2021). To establish a resilient business portfolio, we steadily implemented structural reforms spanning the Paper and Paperboard Business and Home & Personal Care Business, including bringing paper towel production equipment into operation in July of the same year and expanding sanitary paper production equipment in October of the same year.」
In the first year of the Fourth Medium-Term Business Plan, the company achieved the specific milestones of bringing paper towel production equipment at the Mishima Mill into operation and expanding sanitary paper production equipment at the Kawanoe Mill. - FY2022-Q2AdvancedAnnual report
「Against this backdrop, the Group is working diligently to achieve the management targets of the Fourth Medium-Term Business Plan, “GEAR UP: Next Growth, A New Future” (announced on 27 May 2021), covering the three years from fiscal 2021 through fiscal 2023. This includes bringing paper towel production equipment at the Mishima Mill into operation in July and sanitary paper production equipment at the Kawanoe Mill into operation in October, as part of structural reforms spanning the Paper and Paperboard Business and Home & Personal Care Business.」
During the execution phase of the Fourth Medium-Term Business Plan, the company identified the start-up of paper towel production equipment at the Mishima Mill and sanitary paper production equipment at the Kawanoe Mill as specific milestones. - FY2022-Q1RestatedAnnual report
「Against this backdrop, the Group launched its new three-year plan, the Fourth Medium-Term Business Plan, from the first quarter of the current fiscal year (announced on 27 May 2021). Under the slogan “GEAR UP: Next Growth, A New Future,” the Group aims to achieve its long-term vision of net sales of ¥800 billion to ¥1 trillion by implementing structural reforms across its Paper and Paperboard Business and Home & Personal Care Business, including shifting production toward higher-value-added products by making maximum use of the competitive pulp produced at the Mishima Mill, as well as a growth strategy focused primarily on overseas markets.」
The company reaffirmed the launch of the Fourth Medium-Term Business Plan and the “GEAR UP” slogan, identifying a shift toward higher-value-added products using pulp from the Mishima Mill, cross-business structural reforms, and an overseas growth strategy as means of executing the plan. - FY2021First statedAnnual report
「Under the slogan of the Fourth Medium-Term Business Plan, “GEAR UP: Toward the Next Growth and a New Future,” the company aims to achieve further growth by maximizing the benefits of structural reforms and strategic investment.」
The company newly launched its Fourth Medium-Term Business Plan covering fiscal 2021 through fiscal 2023, with targets for fiscal 2023 of ¥720 billion in net sales, ¥51 billion in operating profit, a 7.1% operating margin, ROE of at least 10%, and a net debt-to-equity ratio of 1.0x.