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MediumMediumMediumMedium----Term Business PlanTerm Business PlanTerm Business PlanTerm Business Plan((((FY2012FY2012FY2012FY2012~~~~FY2015FY2015FY2015FY2015))))
May 15, 2012May 15, 2012May 15, 2012May 15, 2012Toyo Engineering CorporationToyo Engineering CorporationToyo Engineering CorporationToyo Engineering Corporation
1
1.1.1.1. StatusStatusStatusStatus of “NEXT TOYO 2015”of “NEXT TOYO 2015”of “NEXT TOYO 2015”of “NEXT TOYO 2015”
2.2.2.2. Target & StrategyTarget & StrategyTarget & StrategyTarget & Strategy
3.3.3.3. Markets on FocusMarkets on FocusMarkets on FocusMarkets on Focus
4.4.4.4. Business Areas of FocusBusiness Areas of FocusBusiness Areas of FocusBusiness Areas of Focus
5.5.5.5. FY2012 Target New AwardsFY2012 Target New AwardsFY2012 Target New AwardsFY2012 Target New Awards
1. Status of “NEXT TOYO 2015”
2
1) Supply the competitive EPC1) Supply the competitive EPC1) Supply the competitive EPC1) Supply the competitive EPC services by global operation services by global operation services by global operation services by global operation system toward global markets, mainly emerging countriessystem toward global markets, mainly emerging countriessystem toward global markets, mainly emerging countriessystem toward global markets, mainly emerging countries
2) Provide the services in Fertilizer field through whole plant2) Provide the services in Fertilizer field through whole plant2) Provide the services in Fertilizer field through whole plant2) Provide the services in Fertilizer field through whole plantvaluevaluevaluevalue----chain from FS to O&M by utilizing the advantage having chain from FS to O&M by utilizing the advantage having chain from FS to O&M by utilizing the advantage having chain from FS to O&M by utilizing the advantage having own licenseown licenseown licenseown license
3) Accelerate the business development in Energy 3) Accelerate the business development in Energy 3) Accelerate the business development in Energy 3) Accelerate the business development in Energy Upstream through supplying own advantageous products and Upstream through supplying own advantageous products and Upstream through supplying own advantageous products and Upstream through supplying own advantageous products and services, and enter into EPC Business for LNG services, and enter into EPC Business for LNG services, and enter into EPC Business for LNG services, and enter into EPC Business for LNG
4) Support globalization of Japanese firms comprehensively from 4) Support globalization of Japanese firms comprehensively from 4) Support globalization of Japanese firms comprehensively from 4) Support globalization of Japanese firms comprehensively from Location Study to Plant ConstructionLocation Study to Plant ConstructionLocation Study to Plant ConstructionLocation Study to Plant Construction
◎◎◎◎ Enhancement of TOYO’s Strong PointsEnhancement of TOYO’s Strong PointsEnhancement of TOYO’s Strong PointsEnhancement of TOYO’s Strong Points
◎◎◎◎ Key: Differentiation Strategy to Acquire Clients' PreferenceKey: Differentiation Strategy to Acquire Clients' PreferenceKey: Differentiation Strategy to Acquire Clients' PreferenceKey: Differentiation Strategy to Acquire Clients' Preference
【【【【Economy/Market】】】】 【【【【 TOYO's Challenge for Growth (Positioning)】】】】
ChallengeChallengeChallengeChallenge forforforfor GrowthGrowthGrowthGrowth
Population Population Population Population Growth & Growth & Growth & Growth & UrbanizationUrbanizationUrbanizationUrbanization
Innovation for Innovation for Innovation for Innovation for Energy Energy Energy Energy Development Development Development Development TechnologyTechnologyTechnologyTechnology
CrossCrossCrossCross----border border border border expansion ofexpansion ofexpansion ofexpansion offinancial & financial & financial & financial & capital marketcapital marketcapital marketcapital market
2. Target & Strategy
3
2.1 Management Target (1/2)2.1 Management Target (1/2)2.1 Management Target (1/2)2.1 Management Target (1/2)
@End of FY2015@End of FY2015@End of FY2015@End of FY2015Consolidated Net Profit : JPY 12 BillionConsolidated Net Profit : JPY 12 BillionConsolidated Net Profit : JPY 12 BillionConsolidated Net Profit : JPY 12 Billion(Ratio of Consolidated to Parent Earnings(Ratio of Consolidated to Parent Earnings(Ratio of Consolidated to Parent Earnings(Ratio of Consolidated to Parent Earnings::::2.02.02.02.0))))Dividend Payout Ratio: 25%Dividend Payout Ratio: 25%Dividend Payout Ratio: 25%Dividend Payout Ratio: 25%
Growth of Toyo Group throughGrowth of Toyo Group throughGrowth of Toyo Group throughGrowth of Toyo Group throughthe structuralthe structuralthe structuralthe structural reform of Toyoreform of Toyoreform of Toyoreform of Toyo----JapanJapanJapanJapan
The improvement of the EPC execution The improvement of the EPC execution The improvement of the EPC execution The improvement of the EPC execution capability of each Group companycapability of each Group companycapability of each Group companycapability of each Group company
Maximization of the corporate value by the Maximization of the corporate value by the Maximization of the corporate value by the Maximization of the corporate value by the global operation of TOYOglobal operation of TOYOglobal operation of TOYOglobal operation of TOYO
0
50
100
150
200
250
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Net New Order(Left Scale) Net Sales(Left Scale)
Net Operating Profit(Right Scale) Net Profit(Right Scale)
2. Target & Strategy
【【【【Target , Consolidated Basis @ End of FY2015 】】】】
- Annual New Order/Sales :::: JPY 450 Bil./JPY 420 Bil. (Converted to EPC Cases ),
- Operating Profit : Over JPY 20 Bil. - Net Profit: JPY 12 Bil. (Ratio of Consolidated to Parent Earnings: 2:0)
4
2.1 Management Target2.1 Management Target2.1 Management Target2.1 Management Target ((((2/2)2/2)2/2)2/2)
(Unit:JPY100Mil)
2. Target & Strategy
5
2.2 2.2 2.2 2.2 Basic Policy & StrategyBasic Policy & StrategyBasic Policy & StrategyBasic Policy & Strategy
【【【【Basic PolicyBasic PolicyBasic PolicyBasic Policy】】】】 【【【【Basic StrategyBasic StrategyBasic StrategyBasic Strategy】】】】
Worth WorkingWorth WorkingWorth WorkingWorth Working PlacePlacePlacePlace((((Development of Global Human CapitalDevelopment of Global Human CapitalDevelopment of Global Human CapitalDevelopment of Global Human Capital))))
1) Establishment of human resource infrastructure
on a global basis
2) Cultivation and fostering of global human capital
“Global Toyo“Global Toyo“Global Toyo“Global Toyo to TOYO“to TOYO“to TOYO“to TOYO“((((Integration of Global Operation SystemIntegration of Global Operation SystemIntegration of Global Operation SystemIntegration of Global Operation System))))
1) Realization of global network system to provide the
differentiated EPC service with "TOYO Quality"
2) Maintenance of group management system to
balance the global integration with the local
adaptation
More towardMore towardMore towardMore toward UpstreamUpstreamUpstreamUpstream(Upstream Segment & Customer Value Chain)(Upstream Segment & Customer Value Chain)(Upstream Segment & Customer Value Chain)(Upstream Segment & Customer Value Chain)
2) Conversion to a business category to provide
professional services through customer value chain
from plant planning to operation
1) Strengthening of upstream segment such as oil
and gas field exploitation
6
2. Target & Strategy 2.3 2.3 2.3 2.3 Markets & Business Areas on FocusMarkets & Business Areas on FocusMarkets & Business Areas on FocusMarkets & Business Areas on Focus
Prioritized Markets Frontier Markets
East Asia
S.E. Asia
Latin
America
IndiaMiddle East
Russia/CIS North
America
IraqSub-Sahara
<Core>
Fertilizer
Petrochemical
Refinery & Gas
<Enhancing>
Energy/
Upstream
Social infra.
Others
<Fostering>
Business
Participation
To utilize overseas affiliatesTo utilize overseas affiliatesTo utilize overseas affiliatesTo utilize overseas affiliates
PharmaceuticalsPharmaceuticalsPharmaceuticalsPharmaceuticals
Social Infra. / Oil & Gas Development Social Infra. / Oil & Gas Development Social Infra. / Oil & Gas Development Social Infra. / Oil & Gas Development
7
3. Markets on Focus 3.1 3.1 3.1 3.1 Growing Markets on FocusGrowing Markets on FocusGrowing Markets on FocusGrowing Markets on Focus
4.6%
Actual GDP Growth %Actual GDP Growth %Actual GDP Growth %Actual GDP Growth %((((2009200920092009----2020202020202020))))Population Growth % (2009Population Growth % (2009Population Growth % (2009Population Growth % (2009----2020) 2020) 2020) 2020) 0.8%0.8%0.8%0.8%
4.3%4.3%4.3%4.3%
Source: International Energy Agency (IEA)
0.8%
3.6%
▲▲▲▲0.1%
1.7%0.4%
7.4%
1.3%
7.7%
0.9%
7.4%
0.8%
2.7%▲▲▲▲0.1%
4.1%
1.9%
4.3%
2.3%
4.6%
8
3. Markets on Focus 3.2 3.2 3.2 3.2 ResourceResourceResourceResource----Rich CountriesRich CountriesRich CountriesRich Countries
Proved Oil Reserve Proved Oil Reserve Proved Oil Reserve Proved Oil Reserve ((((2010201020102010))))Billion barrelsBillion barrelsBillion barrelsBillion barrels
Proved Gas Reserve Proved Gas Reserve Proved Gas Reserve Proved Gas Reserve ((((2010201020102010))))Trillion cubic feetTrillion cubic feetTrillion cubic feetTrillion cubic feet Source: BP Statistical Review of World Energy June 2011
7.7%
3.6%
14.2
211.2
14.7
192.745.2
137.0
264.5
571.8
1,645.7
283.1
5.5
894.2
111.9
350.874.3
4.6%
115.0
132.1
520.1
2,188.0
125.4
Refinery/Gas ProcessingRefinery/Gas ProcessingRefinery/Gas ProcessingRefinery/Gas Processing
PetrochemicalPetrochemicalPetrochemicalPetrochemical
FertilizerFertilizerFertilizerFertilizer
4. Business Area on Focus
9
4.14.14.14.1 Core BusinessCore BusinessCore BusinessCore Business
Utilization of new gas resource Utilization of new gas resource Utilization of new gas resource Utilization of new gas resource ���� Licensing, Licensing, Licensing, Licensing, Gas to FertilizerGas to FertilizerGas to FertilizerGas to Fertilizer
Materials for emerging market Materials for emerging market Materials for emerging market Materials for emerging market ���� Mega Petrochemical ComplexMega Petrochemical ComplexMega Petrochemical ComplexMega Petrochemical Complex
Change of DemandChange of DemandChange of DemandChange of Demand----supply Balance supply Balance supply Balance supply Balance ���� Focus on AreaFocus on AreaFocus on AreaFocus on Area
Expansion of Urea License ShareExpansion of Urea License ShareExpansion of Urea License ShareExpansion of Urea License Share
% in cumulative numbers of past result% in cumulative numbers of past result% in cumulative numbers of past result% in cumulative numbers of past result % in 2011 result% in 2011 result% in 2011 result% in 2011 result
RollRollRollRoll----overoveroveroverto EPCto EPCto EPCto EPC
Company B(53%)
Toyo(25%)
Company A(22%)
CompanyB (24%)
Company A(38%)
Toyo(38%)
Fertilizer
Magnitude of InvestmentMagnitude of InvestmentMagnitude of InvestmentMagnitude of InvestmentJPY50JPY50JPY50JPY50----150 150 150 150 BilBilBilBil. per project. per project. per project. per project
4. Business Area on Focus
10
4.2 Enhancing Business4.2 Enhancing Business4.2 Enhancing Business4.2 Enhancing Business
OthersOthersOthersOthers
Social InfrastructureSocial InfrastructureSocial InfrastructureSocial Infrastructure
Energy/UpstreamEnergy/UpstreamEnergy/UpstreamEnergy/Upstream Increase of energy resource competition Increase of energy resource competition Increase of energy resource competition Increase of energy resource competition ���� Join from planning stageJoin from planning stageJoin from planning stageJoin from planning stage
Population Growth & Urbanization Population Growth & Urbanization Population Growth & Urbanization Population Growth & Urbanization ���� US$ 40 Trillion marketUS$ 40 Trillion marketUS$ 40 Trillion marketUS$ 40 Trillion market
Demand of BioDemand of BioDemand of BioDemand of Bio----pharmaceutical pharmaceutical pharmaceutical pharmaceutical ���� Further growthFurther growthFurther growthFurther growth
� Support for Large-Scale Oil & Gas Development
� General Eng’g Service to South Oil Company in Iraq
� Asset Management Business for existing oil field
� Mid-Scale LNG, Floating-LNG, Micro-GTL
� To enhance the capability for FPSO topside in Brazil
<Energy/Upstream><Energy/Upstream><Energy/Upstream><Energy/Upstream>
���� Participation in value chain of Oil & Gas DevelopmentParticipation in value chain of Oil & Gas DevelopmentParticipation in value chain of Oil & Gas DevelopmentParticipation in value chain of Oil & Gas Development
Exploration planExploration planExploration planExploration plan Development PlanDevelopment PlanDevelopment PlanDevelopment Plan FPSOFPSOFPSOFPSO
<Social Infrastructure><Social Infrastructure><Social Infrastructure><Social Infrastructure>
((((OnOnOnOn----going projectgoing projectgoing projectgoing project))))Power Power Power Power
WaterWaterWaterWater
Business ParticipationBusiness ParticipationBusiness ParticipationBusiness Participation
Program ManagementProgram ManagementProgram ManagementProgram Management
O&MO&MO&MO&M
Gran
d D
esign
Gran
d D
esign
Gran
d D
esign
Gran
d D
esign
Busin
ess Inve
stment
Busin
ess Inve
stment
Busin
ess Inve
stment
Busin
ess Inve
stment
Asse
t Man
agem
ent
Asse
t Man
agem
ent
Asse
t Man
agem
ent
Asse
t Man
agem
ent
Outcome
4. Business Area on Focus
11
4.34.34.34.3 Fostering BusinessFostering BusinessFostering BusinessFostering Business
From EPC to Business ParticipationFrom EPC to Business ParticipationFrom EPC to Business ParticipationFrom EPC to Business Participation by enhancing Program Management capabilityby enhancing Program Management capabilityby enhancing Program Management capabilityby enhancing Program Management capability
���� Expansion of Social Infrastructure Business in emerging countries, Oil & Gas Development BusinessExpansion of Social Infrastructure Business in emerging countries, Oil & Gas Development BusinessExpansion of Social Infrastructure Business in emerging countries, Oil & Gas Development BusinessExpansion of Social Infrastructure Business in emerging countries, Oil & Gas Development Business
((((Asset Management Business in existing oil field, Water Infrastructure Business)Asset Management Business in existing oil field, Water Infrastructure Business)Asset Management Business in existing oil field, Water Infrastructure Business)Asset Management Business in existing oil field, Water Infrastructure Business)
PMC (EPC contract)
Pre
FE
ED
Project ManagementProject ManagementProject ManagementProject Management
E P C
FE
ED
O&MO&MO&MO&MPlanPlanPlanPlan
Output
Expansion ofExpansion ofExpansion ofExpansion ofBusiness AreaBusiness AreaBusiness AreaBusiness Area
Business ParticipationBusiness ParticipationBusiness ParticipationBusiness Participation New Business Model New Business Model New Business Model New Business Model –––– From Output toFrom Output toFrom Output toFrom Output to Outcome Outcome Outcome Outcome
12
5. FY2012 Target new Awards
Fertilizer UpstreamInfra. Downstream
Russia & CIS
Middle East &North Africa
Central/Latin America
China
India
North America
Australia
South East Asia
Japan
Sub-Saharan Africa
Target New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 BillionTarget New Awards (Consolidated) : JPY 310 Billion
13
URL http://www.toyo-eng.co.jp
For further questions on this material, please contactFor further questions on this material, please contactFor further questions on this material, please contactFor further questions on this material, please contact:
Kenji SATOKenji SATOKenji SATOKenji SATO
General ManagerGeneral ManagerGeneral ManagerGeneral Manager
Corporate Communication DivisionCorporate Communication DivisionCorporate Communication DivisionCorporate Communication Division
2-8-1 Akanehama, Narashino, Chiba, Japan 275-0024
Tel +81-47-454-1681
E-Mail: [email protected],jp
Forward-looking Statements
This presentation may contain forward-looking statements about the Toyo Engineering Corporation identified by the fact that they do not relate strictly to historical or current facts. These statements are based on currently available to the management of the Toyo Engineering Corporation, and subject to risks and uncertainties that could cause the Toyo Engineering Corporation’s actual results, performance, achievement or financial condition to differ from those described or implied in the forward-looking statements.
The Toyo Engineering Corporation undertakes no obligation to publicly update any forward-looking statements after the date of presentation. These potential risks and uncertainties include, but are not limited to: competition within the financial services industries in Japan and overseas, our ability to adjust our business
focus and to maintain profitable strategic alliances, volatile and sudden movements in the international securities markets, foreign exchange and global economic situations affecting the Toyo Engineering Corporation.