Edited from ‘Message from the management’, annual report 2009 and “Start of MGC’s new medium-term management plan MGC Will 2011”
Mitsubishi Gas Chemical (MGC) has begun its new three-year medium-term management plan, named MGC Will 2011, for the period 1 April 2009 through 31 March 2012. The key aim of the plan is to determine what kind of company MGC should aim to become by 2021.
“Given the increasingly uncertain economic outlook, it was decided that in order to follow a path of further sustainable growth it was necessary to formulate and implement a plan from a long-term perspective. The year 2021 was selected as a milestone date that will mark MGC’s 50th anniversary, with the goals of achieving net sales of more than Yen1trn and becoming one of the global top 30 chemical companies”, says MGC president, Kazuo Sakai.
The MGC Will 2011 plan is said to have been positioned as the first step in realising these goals, and the use of the word ‘will’ in the title of the plan expresses the strong intention throughout the company of achieving MGC’s aims.
Strategies of MGC Will 2011
(1) MGC aims to realise corporate social responsibility (CSR) in all its activities while developing and growing sustainably on a global stage as a highly differentiated, widely recognised chemicals group operating from a strong platform of proprietary technology;
(2) Strengthen and expand core businesses;
(3) Accelerate new product development and commercialisation;
(4) Improve total enterprise quality in support of sustainable growth;
(5) In continuation of the previous plan, MGC will continue to emphasise the allocation of resources to the development of a “superior” product portfolio.
Under MGC Will 2011, however, the company’s product range, which covers everything from basic chemicals through to high-performance materials, will be newly classified into one of two groups: chemical chain and high performance.
“By establishing differentiation strategies that reflect the different characteristics of products within these groups, and by concentrating management resources as appropriate, MGC will be working to strengthen and expand its core businesses”, says Sakai.
MGC will pursue sustainable growth through taking steps to improve total enterprise quality in every area of operations. Management issues identified in the new plan include:
(1) Achieving zero accidents or disasters;
(2) Actively contributing to the reduction of environmental impact;
(3) Recruiting and fostering personnel;
(4) Reducing costs;
(5) Improving productivity;
(6) Fine-tuning existing technologies;
(7) Constructing a more robust financial foundation; and
(8) Enhancing global group management.
Will 2011 targets
(1) Trusted by society and realising CSR in all corporate activities;
(2) Sales exceeding Yen1,000bn, and becoming of the global top 30 chemical companies;
(3) Highly profitable and research driven, achieving global excellence.
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Financial highlights: MGC, year ended 31 March
| |
2009 |
2008 |
2007 |
2006 |
2005 |
| Sales (Yen m) |
447,647 |
519,329 |
482,608 |
439,830 |
388,589 |
| Operating Profit (Yen m) |
-3,103 |
47,366 |
42,220 |
38,970 |
30,869 |
| Net Profit (Yen m) |
7,014 |
40,209 |
40,044 |
32,944 |
23,349 |
| Total Assets (Yen m) |
530,592 |
601,386 |
609,965 |
564,483 |
494,577 |
| Diluted earnings per share (Yen) |
14.97 |
85.13 |
85.64 |
70.98 |
50.41 |
| Number of Employees |
4,686 |
4,686 |
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Mitsubishi Gas Chemical
Company Structure
Mitsubishi Gas Chemical conducts a wide range of businesses globally, from methanol, xylene, hydrogen peroxide and other basic chemicals through to life-science products, metaxylene derivatives, electronic chemicals and other fine chemicals. Mitsubishi Gas Chemical was formed in 1971 when Mitsubishi Edogawa Chemical merged with Japan Gas Chemical.
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