DOWA established “Midterm Plan 2024” covering the three-year period from FY2022 to FY2024 on May 2022.
DOWA Group will drive initiatives to achieve an improvement in both its economic value and social value, thus improving its corporate value and contributing to building a sustainable society.
Social issues that the DOWA Group should contribute to solving have been identified in light of the business environment, stakeholders' expectations and requests, etc. Those issues are positioned as the DOWA Group's Materiality, and initiatives will be taken to solve them.
Make it the basic strategy under the Midterm Plan 2024 to work on initiatives to acquire opportunities by evolving the recycling-oriented business model and reduce risks by strengthening sustainability management, so as to solve the DOWA Group's Materiality.
Based on the basic strategies of the Midterm Plan 2024, we will focus on the following themes.
|
Evolution of recycling oriented business model |
Strengthening sustainability management |
|
|
|
Operating Income (billion yen) |
60.0 |
|
Ordinary Income (billion yen) |
70.0 |
|
ROA (％) |
10 or more |
|
ROE (％) |
12 or more |
|
Assumptions |
Midterm Plan 2024 |
Fluctuation |
Sensitivities (FY2022） |
|
Exchange rate (¥/$) |
120.0 |
±1yen |
680 million yen |
|
Copper ($/ton) |
10,000 |
±100 dollar |
40 million yen |
|
Zinc ($/ton) |
3,800 |
±100 dollar |
420 million yen |
We aim to achieve sustainable growth and maximize our corporate value to achieve our Mission and Vision (our goal in 2030). To achieve these targets, we will implement capital measures with an appropriate balance between growth investments, maintenance of a sound financial foundation, and enhancement of shareholder returns while also paying attention to the business environment and future risks.
|
Growth investments |
We will be proactive in making investments in promising businesses and investments which improve the sustainability of the overall Group. Regarding growth investments, we will focus on projects which are expected to produce high investment effects, by considering capital cost and return on investment. |
|
Maintaining a healthy financial foundation |
We aim to maintain a sound financial foundation by fully considering the balance between shareholders’ equity and interest-bearing debt, so as to continue growth investments and secure working capital. |
|
An increase in shareholder returns |
We provide returns to our shareholders by paying dividends, in principle, and will strive to ensure stable dividends and increase dividends in a stepwise manner. |
DOWA regards the payment of dividends to shareholders as one of its top management priorities. The Company sets out a policy of increasing dividends as performance allows, while ensuring sufficient internal reserves for bolstering the corporate structure and expanding business in the future in line with the basic principle of maintaining stable dividends.
Our basic dividend policy for the period of the Midterm Plan 2024 (FY2022 through FY2024) is not to decrease the amount of ordinary dividends from the previous year's amount and to increase the amount of ordinary dividends in stages because ordinary income will increase in stages from 55.0 billion yen to 70.0 billion yen under the plan.
Moreover, we will aim to increase the amount of dividends further in consideration of financial results and cash flows in each fiscal year, future prospects, and other factors.
