Meaning of YX2023 and Target
The Yokohama Rubber Group has launched its new medium-term management plan, Yokohama Transformation 2023 (YX2023), which will guide the group during the three years from fiscal 2021 through fiscal 2023.
Meaning of YX2023
“Y” standing for YOKOHAMA and “X” for transformation, as we plan to pursue “exploitation” and “exploration” to achieve a transformation of the YOKOHAMA Group over this three-year period.
During YOKOHAMA Transformation 2023, we will dig deeper into the core strengths of our existing businesses, while also search for new growth opportunities by responding to the dynamic once-in-a hundred years transformation taking place in our main market.
Management targets
We are targeting record highs of ¥700 billion for sales revenue and ¥70 billion for business profit in 2023, the plan’s final year. In addition, we are targeting achievement of the levels originally envisioned in GD100 as the culmination of our first 100 years—sales of ¥770 billion and profit of ¥80 billion—in 2025.
■Financial targets (goals for 2023)
| Sales revenue | ¥700 billion |
|---|---|
| Business profit | ¥70 billion |
| Business profit margin | 10% |
| D/E ratio | 0.4 |
| ROE | 10% |
| ROIC | 7% |
| Operating CF | ¥250 billion(3-year total) |
| Capital investment | Within depreciation (excluding strategic investments) |
