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Mid-Term Management Plan “VISION 2017” Interim Revision of Target Figures

Mid-Term Management Plan “VISION 2017”

In May 2013, the Sumitomo Electric Group formulated the mid-term management plan “VISION 2017.” Our absolute basis is the Sumitomo Spirit, on which we have laid the human resources base, the manufacturing base, and the financial base. Building on these bases, we have been endeavoring to secure new growth in current business fields, with the focus on mobility, energy, and communications (ICT), to expand integrated business fields, and to challenge new business fields. To attain these targets, we have been utilizing our strategic marketing function, global presence, and leading technology as driving forces.

Interim Revision

When we established VISION 2017, we set the FY2015 mid-term targets as follows: net sales of 2,600 billion yen and operating income of 130 billion yen. In FY2014, however, we achieved these targets ahead of the original schedule. In this regard, while considering the business environment, exchange rate, and other conditions, we revised the numerical targets of VISION 2017, and announced the new targets in May this year.

Specifically, we have set the new FY2017 target figures as follows: net sales of 3,300 billion yen, operating income of 200 billion yen, and ROA (Operating Income / Invested Assets) of at least 9%. Additionally, we have added ROE to our target indices, with the FY2017 target ROE being at least 8%.

Toward Attaining the New Target Figures

We will continue to aim to secure new growth in current business fields, which consist of five business segments. Meanwhile, with regards to our integrated business fields of mobility, energy, and communications (ICT), and our new business fields, we have been pushing forward to establish appropriate organizational structures and make necessary resource investments. We will accelerate efforts regarding these two fields so that they will grow into primary sources of our revenue.

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