Middle-Range Planning

11th Three-Year Middle-Range Plan (April 2014 through March 2017)

Our 11th three-year middle-range plan calls for the Mandom Group to accelerate growth and launch new businesses in Asia, acting as a comprehensive global company with particular strengths in Asia to expand our revenue base.
Specifically, we plan to outperform our MP-10 plan based on strategies for achieving sustainable growth in our core men's grooming business, accelerating expansion of the women's cosmetics business, and continuing to expand our global business as an engine of growth. We believe MP-11 will guide us to a new stage in profitability and in maintaining high and consistent shareholder returns.

Growth

Increase activity to establish competitive advantage in major markets; grow sales by developing new markets and businesses

Final-Year Goal: Consolidated Net Sales of ¥83.0 billion

  1. Sustainable growth in our core men's grooming business
  2. Accelerated expansion of our women's cosmetics business
  3. Continued expansion of our global business as an engine of growt

Profitability

Invest in marketing to drive growth; steadily improve profitability

Final-Year Goal: Consolidated operating income of ¥8.6 billion

Shareholder Returns

High and consistent shareholder returns

Ongoing Target: Consolidated payout ratio of 40% or higher