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Mid-term Business Plan 2017IR・Company Information
The Mid-Term Business Plan 2017 will be followed by the Mid-Term Business Plan 2020 and the Mid-Term Business Plan 2023. This series of our medium-term business plans constitute a long-term strategy for achieving our 2025 Vision.
Under the vision of "Maximize VES Group strengths collectively to improve profitability and stabilize earnings," we will make best use of the VES Group's network and resources, in our efforts to achieve stable earnings and improve our corporate value.
Our Ideal Future by 2020
(Year ending March 31, 2020)
Maximize VES Group strengths collectively to improve profitability and stabilize earnings
- Key strategy 1
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Improving added value of products & services
- Key strategy 2
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Reforming structure of manufacturing & EPC
- Key strategy 3
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Expanding & enhancing ancillary services
Robust group management
Reinforced business foundation
Key strategy 1Improving added value of products & services
- Improving our planning ability and capability of making proposals
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- ○ Formulating a strategy for creating value for society based on the three domains
- ○ Increasing our competitiveness in the service domain by strengthening intra-group cooperation and alliances with other companies
- Improving our product development capability
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- ○ Enhancing technology and product development in view of the future market (energy-saving/ labor-saving/ environmental performance)
- ○ Strengthening technologies for increasing the competitiveness of our core products
Key strategy 2Reforming structure of manufacturing & EPC
- Building a dynamic, flexible production system
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- ○ Enhancing the system for production in optimal overseas locations/building a global production base
- ○ Improving the productivity of domestic bases by applying IoT and robotics
- Establishing a system for flexible EPC
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- ○ Promoting collaboration within the Group in the field of ocean business
- ○ Strengthening cooperation within the Group in the field of renewable energy/gas power generation
Key strategy 3Expanding & enhancing ancillary services
- Enhancing domains and areas of services we provide
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- ○ Enhancing after-sales services
- ○ Expanding FPSO charter business, power generation business, and other businesses that result in constant profits based on medium- or long-term contracts
- Evolving services by applying IoT
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- ○ Enhancing maintenance and services based on remote monitoring
- ○ Provision of preventive maintenance services (remaining life assessment and suggestion of optimal maintenance)
Robust group management
- Organization and human resources
- ○ Strategic use of Group companies (clarifying the positions of operating companies and subsidiaries)
- ○ Effective utilization of human resources in the Group (increasing the mobility of human resources)
- Financial affairs
- ○ Maximizing consolidated earnings of the Group
Reinforced business foundation
- Common strategies
- ○ Improving the risk management capability (elimination of excessive loss)
- ○ Selection and concentration of businesses based on growth potential and investment effect
- Organization and human resources
- ○ Building and implementing a human resources rotation program (other departments/ subsidiaries)
Numerical targets
- Net sales
- $90 million
- Ordinary income
- $37 million
- Ordinary income rate
- 4%
- ROIC
- 6.5%
- Interest-bearing debt
- $220 million or less
