ERJ staff report (DS)
Tokyo -- Tokai Rubber Industries Inc. has revised its mid-term management plan downwards. In 2007 the company prepared a management plan up to 2012. The targets in that plan have been revised to take account of the 2009 financial crisis.
The company expects to maintain margins at 10 percent, but has said its sales target for 2012 is yen 320 billion (euro 2842 million), rather than yen 400 billion. Margins for ordinary profit, return on investment and return on assets remain unchanged at 10 percent.
The company has recognised that growth will increasingly take place in emerging markets, so it is planning to accelerate its expansion plans in China, India and South America. Tokai said smaller cars willl becoe increasingly important in the global economy, and is increasing efforts in low-cost, low environmental-impact solutions
In the industrial products devision the comapny expects to aggresively enter the Chinese market. In addition, it expects to accelerate the product development cycle.
The company will pay more attention to its overall corporate responsibiities and will attempt to streamline its management structures tyo improve productivity and responsiveness.
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Press release from Tokai Rubber (Japanese language)
Headline Above press release auto-translated into English (from Japanese)