Worth reading
76Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
1800
¥100 million (increase from the FY2025 forecast for profit before tax to the FY2030 target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+10.0pt
基準 2,025Target2,035%
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).
What happened to the previous planBA2035 Phase 1 FY2025 target: ¥240 billion → FY2025 forecast: ¥240 billion（0%）-0.5%Calculated from the two disclosed figures
Total investment plan¥1,510 billion (cumulative Phase 2 investment plan for FY2026–FY2030)
Investment amount by sectorDry Bulk Business: ¥410 billion (breakdown of business investment by business segment), Energy Business: ¥1,010 billion (breakdown of business investment by business segment), Chemical Logistics Business: ¥390 billion (breakdown of business investment by business segment), Product Transport Business: ¥340 billion (breakdown of business investment by business segment), Wellbeing & Lifestyle Business: ¥10 billion (breakdown of business investment by business segment), Other: ¥180 billion (breakdown of business investment by business segment)
Statements about the use of capital
Payout ratio / DOE policyProgressive dividends will be introduced from FY2026, starting at ¥205 per share. The total payout ratio will be targeted at approximately 40% (FY2026–FY2030).The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe company will conduct flexible share buybacks using excess profits generated from upside in market conditions, targeting a total payout ratio of approximately 40%.
Key initiatives
01Ensuring investment delivers its intended effects
02Creating synergies across businesses and regions
03Disciplined risk-taking in businesses with market exposure
04Balancing investment with maintenance of a sound financial base
05Strengthening shareholder returns (improving continuity and predictability)
06Promoting asset recycling
07Maximizing the power of people and organizations that support the business
08Transforming the business through digitalization and AI adoption (structural improvements in both earnings power and efficiency)
09Introducing alternative fuels
10Improving fuel efficiency
11Expanding low-carbon and decarbonization businesses
12AI-driven transformation
13Maritime digitalization
14Global co-creation infrastructure
15Deepening the use of human capital data
16Expanding opportunities for maritime professionals
17Promoting talent exchanges across organizational boundaries
18Strengthening human resources functions across the Group
19Improving Board Effectiveness
20Promoting autonomous management overseas
21Upgrade management capabilities
22Strengthening the Group governance framework
23Addressing geopolitical risks
Plan assumptionsThe assumption that instability around the Strait of Hormuz will not be prolonged and will move toward resolution within a short period, targeted by the end of April, Economic Trends, Intense competition in the shipping industry, Market Demand, Fuel Prices, Exchange rate, Tax systems and other regulations
Segment targetDry Bulk Business: FY2030 profit before tax of ¥41 billion, Energy Business: FY2030 profit before tax of ¥92 billion, Chemical Logistics Business: FY2030 profit before tax of ¥45 billion, Product Transport Business: FY2030 profit before tax of ¥206 billion (including ¥160 billion from the containership business), Wellbeing & Lifestyle Business: FY2030 profit before tax of ¥36 billion (including ¥26 billion from the real estate business), Related Businesses and Other: FY2030 profit before tax of ¥0 billion, Total: FY2030 profit before tax of ¥420 billion
Non-financial targetsGHG emissions intensity reduction (vs. 2019): ▲45%, FY2035, Zero fatal occupational accidents and zero serious accidents: FY2035, Share of MGKP incumbents (women/non-headquarters employees): 15%/35%, FY2030, Share of MGKP incumbents (women/non-headquarters employees): 20%/40%, FY2035, Percentage of organizations with improved engagement scores: 80%, FY2030 and FY2035, Time created for value-creating activities (vs. FY2022): 20%, FY2030, Time created for value-creating activities (vs. FY2022): 30%, FY2035, Net-zero emissions: 2050
Risks identified by the company
Economic Trends
Intense competition in the shipping industry
Market Demand
Fuel Prices
Exchange rate
Tax systems and other regulations
Geopolitical risk
Delays in the energy transition
Economic and energy security
Instability around the Strait of Hormuz
Reason for revision or withdrawal
Early generation of returns after investment, adjustment of the investment pace brought forward during Phase 1, stronger shareholder returns, improved capital efficiency, and further demonstrating the MOL Group’s collective capabilities.
| Item | Details |
|---|---|
| Plan name | MOL Group Management Plan “BLUE ACTION 2035” Phase 2 |
| Plan period | FY2026–FY2030 |
| Progress against the plan | Formulated |
| ROE target | 7.4% (FY2025 forecast) → More than 10% (FY2035)（More than 35.1%） |
| Payout ratio / DOE policy | Progressive dividends will be introduced from FY2026, starting at ¥205 per share. The total payout ratio will be targeted at approximately 40% (FY2026–FY2030). |
| Treasury share acquisition policy | The company will conduct flexible share buybacks using excess profits generated from upside in market conditions, targeting a total payout ratio of approximately 40%. |
| Total investment plan | ¥1,510 billion (cumulative Phase 2 investment plan for FY2026–FY2030) |
| Investment amount by sector | Dry Bulk Business: ¥410 billion (breakdown of business investment by business segment), Energy Business: ¥1,010 billion (breakdown of business investment by business segment), Chemical Logistics Business: ¥390 billion (breakdown of business investment by business segment), Product Transport Business: ¥340 billion (breakdown of business investment by business segment), Wellbeing & Lifestyle Business: ¥10 billion (breakdown of business investment by business segment), Other: ¥180 billion (breakdown of business investment by business segment) |
| Segment target | Dry Bulk Business: FY2030 profit before tax of ¥41 billion, Energy Business: FY2030 profit before tax of ¥92 billion, Chemical Logistics Business: FY2030 profit before tax of ¥45 billion, Product Transport Business: FY2030 profit before tax of ¥206 billion (including ¥160 billion from the containership business), Wellbeing & Lifestyle Business: FY2030 profit before tax of ¥36 billion (including ¥26 billion from the real estate business), Related Businesses and Other: FY2030 profit before tax of ¥0 billion, Total: FY2030 profit before tax of ¥420 billion |
| Non-financial targets | GHG emissions intensity reduction (vs. 2019): ▲45%, FY2035, Zero fatal occupational accidents and zero serious accidents: FY2035, Share of MGKP incumbents (women/non-headquarters employees): 15%/35%, FY2030, Share of MGKP incumbents (women/non-headquarters employees): 20%/40%, FY2035, Percentage of organizations with improved engagement scores: 80%, FY2030 and FY2035, Time created for value-creating activities (vs. FY2022): 20%, FY2030, Time created for value-creating activities (vs. FY2022): 30%, FY2035, Net-zero emissions: 2050 |
| Plan assumptions | The assumption that instability around the Strait of Hormuz will not be prolonged and will move toward resolution within a short period, targeted by the end of April, Economic Trends, Intense competition in the shipping industry, Market Demand, Fuel Prices, Exchange rate, Tax systems and other regulations |
| Key initiatives | Ensuring investment delivers its intended effects, Creating synergies across businesses and regions, Disciplined risk-taking in businesses with market exposure, Balancing investment with maintenance of a sound financial base, Strengthening shareholder returns (improving continuity and predictability), Promoting asset recycling, Maximizing the power of people and organizations that support the business, Transforming the business through digitalization and AI adoption (structural improvements in both earnings power and efficiency), Introducing alternative fuels, Improving fuel efficiency, Expanding low-carbon and decarbonization businesses, AI-driven transformation, Maritime digitalization, Global co-creation infrastructure, Deepening the use of human capital data, Expanding opportunities for maritime professionals, Promoting talent exchanges across organizational boundaries, Strengthening human resources functions across the Group, Improving Board Effectiveness, Promoting autonomous management overseas, Upgrade management capabilities, Strengthening the Group governance framework, Addressing geopolitical risks |
| Results under the previous plan | BA2035 Phase 1 FY2025 target: ¥240 billion → FY2025 forecast: ¥240 billion（0%） |
| Reason for revision or withdrawal | Early generation of returns after investment, adjustment of the investment pace brought forward during Phase 1, stronger shareholder returns, improved capital efficiency, and further demonstrating the MOL Group’s collective capabilities. |
| Risks identified | Economic Trends, Intense competition in the shipping industry, Market Demand, Fuel Prices, Exchange rate, Tax systems and other regulations, Geopolitical risk, Delays in the energy transition, Economic and energy security, Instability around the Strait of Hormuz |
| Date of board resolution | 31 March 2026 |
| Publication date | 31 March 2026 |
Items this document does not state (8)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share priceSize of the Target Market
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To further strengthen the Group’s earnings power by qualitatively enhancing its business portfolio, based on the investments accumulated during Phase 1 and the Group’s competitive advantages. The company will also address Phase 1 issues, including the early generation of returns after investment, adjustment of the investment pace, stronger shareholder returns, and improved capital efficiency.
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