The JT Group’s Business Plan covers a three-year period, and is rolled-over annually to reflect the challenges identified in our operating environment, which presents continuously changing uncertainties, in order to strengthen our competitiveness with agility.
Mid- to Long-Term Target
Achieve mid- to high single-digit annual average growth rate in adjusted operating profit at constant currency
Resource Allocation Policy
- The “4S Model” guides our recourse allocation
・ Prioritize business investments*1 for sustainable profit growth in the mid to long term
・ Strike a balance between profit growth through business investment and shareholder returns
- Shareholder Return Policy: Aim to enhance shareholder returns considering the Company’s mid- to long-term profit growth trend, while maintaining a strong financial base*2
・ Work toward stable and consistent growth in dividend per share*3
・ Consider implementing a share buy-back program, taking into account the Company’s mid-term operating environment and financial outlook
・ Continue to closely monitor shareholder returns of global FMCG*4 companies
Pursue quality top-line growth while continuing to offer new value and exceed consumer expectations. Investment towards the growth of tobacco business is of our highest priority.
As its financial policy, the Company will maintain a strong financial base that secures stability in case of changes in business environment such as economic crises and flexibility enabling expeditious responses to business investment opportunities.
Mid- to long-term growth rate of Adjusted Operated Profit at constant FX remains to be the primary indicator, while we continue to monitor the Profit level.
A Fast-Moving Consumer Goods (daily consumer goods) company which has a stakeholder model similar to our “4S” model, and has realized strong business growth.
February 6, 2020
Business Plan 2020