MOL Group Introduces New Midterm Management Plan "STEER FOR 2020"
March 31, 2014
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the new three-year midterm management plan that will take effect in April 2014.
MOL Group has been carrying out all plans in single-year plan "RISE 2013" with goals of restoring profitability and laying a strong foundation to return to a growth trajectory. Recognizing that the group is well on its way to achieving those objectives, it envisioned what the MOL Group should look like in 2020, set the course to arrive there, and incorporated it into a three-year plan called "STEER FOR 2020".
'To steer' means to take the helm of a ship and direct its course toward a specific destination. The MOL Group intends to cut the rudder and steer straight on a course of high-quality, solid growth towards 2020, which is why the group chose that particular name for its plan. A summary of MOL's new midterm management plan follows.
|FY2013 (Forecast)||FY2016 (Plan)||FY2019 (Target)|
|Revenue (¥ bn)||1,700||1,900||2,100|
|Ordinary income (¥ bn)||55||100||140|
|Net income (¥ bn)||57||80||110|
*The above plan and targets include projections for the future effective today as the company announced the plan. Actual business performance may be different from the figures and targets in the plan due to potential risks and uncertain factors related to the world economy, fluctuation in exchange rates, and others.