Mitsui Announces Business Plan

摘要

Mitsui Chemicals says that it aims to achieve operating profits of about ￥150 billion in 2017 under a restructuring and investment initiative. The company expects operating profits of about ￥35 billion in the year ending March 31, 2011. As part of the company’s efforts to restructure its operations, Mitsui says it will cut 1,320 jobs and establish a ‘leaner’ head office structure of 7,200 employees by 2015 and save ￥20 billion in labor costs. Mitsui says it aims to expand its five priority businesses: performance chemicals; agchems; functional films, functional sheets and spunbonded fabrics; coatings and adhesive materials; and engineering plastics and compounds. Mitsui says it will focus on early expansion of operations in the functional chemical sector (performance chemicals, agchems) through strategic mergers and acquisitions (M&A). The scale of M&A in the performance chemicals and agchems would be about ￥100 billion. Mitsui says it aims to increase the share of sales from overseas in its total sales. Currently overseas sales accounts for about 37% of the company's total sales. Mitsui aims to increase this share to 45% by 2013, and to 50% by 2017. Mitsui plans to invest about ￥120 billion by 2013 as part of its "growth investment" plans. Nearly 33% of the ￥120 billion will be invested in Japan, 23% in ASEAN, 20% in China, 18% in Singapore, 3% in India. Mitsui aims to reduce its greenhouse gas emissionsby 500,000 m.t. by 2013 compared with 1990 levels, which would represent a 9% reduction.