Medium-Term Management Plan

What We're Aiming For

The Ajinomoto Group takes a global perspective at all times in its aim to be a "group of companies that contributes to human health globally" by contributing to significant advances in Food and Health and by working for Life. In doing so, we will help to solve the challenges facing humanity in this century: global sustainability, securing food resources, and healthy lifestyles. We are an expanding our group that is unique in the world, conducting business in three overlapping fields - food products, bioscience products & fine chemicals, and pharmaceuticals - with amino acids at the core.

To become a "Genuine Global Company"

The goal of this medium-term management plan is to become a "Genuine Global Company"
To realize this goal, we believe we must achieve the following:

To create a "Genuine Global Company"

We have positioned 2011 to 2013 as the period in which we will build the foundation of a "Genuine Global Company", which we will shape around the two pillars of growth and strengthening of our business structure. In other words, this will be a critical period for solidifying our foundation for further progress in 2014 and thereafter by achieving growth led by two growth drivers - Global growth, R&D leadership, Leverage of external resources - while at the same time establishing a robust business structure based on three measures:
1)Shift from quantity(VOLUME) to added-value(VALUE), 2)Shift from profit(OP) to cash(FCF=free cash flow), 3)Improve shareholder value by enhancing capital efficiency.
Systems for global human resources and global governance will support these two pillars.

Roadmap to a "Genuine Global Company"

We will achieve stable annual profit growth of 10% and will continue growing. Beyond that, we aim to become a global top 10 food company.
We have set ROE as our key performance indicator. We will increase ROE from the present 4.5% to 8% in 2013, and then to 10%.
We will expand operating income from today's less than 6% to 7% level, and then to 8%, or from 87 billion yen to over 100 billion yen.

We are confident that we will achieve sustainable growth through these efforts.
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