For the fiscal year ended March 31, 2025, we achieved 3625 billion yen in profit for the year attributable to owners of the parent (profit for the year), giving カジノシークレット出金 our fourth consecutive fiscal year of record-high earnings and growth of 9% from the previous fiscal year It was a genuinely satisfying result that exceeded our high targets It was also a year that gave カジノシークレット出金 great momentum for the future

Two factors behind this positive result were that we did not accrue any major losses during the year and that we achieved an effective integration of our product and regional portfolios In terms of products, we are seeing the aggregation of the already-large automotive industry into an even more massive presence that incorporates elements of a range of other industries, including electronics, semiconductors, and batteries In terms of regions, we have tremendous strengths in our Africa business, which has performed exceptionally, with profits almost quadrupling over the last few years For the fiscal year ended March 31, 2025, our Africa Division recorded an annual profit of 795 billion yen This was all thanks to a strategic redirection of assets to Africa from an early stage, and a review of our regional portfolio that we took on our own initiative

Financially, we focused on managing our balance sheet and succeeded in our pursuit of waste-free operations As a major outcome, we have been able to generate an operating cash flow of around 5000 billion yen for three consecutive years

At the end of April 2025, we announced our new Mid-Term Business Plan for the fiscal years ending March 31, 2026, through March 31, 2028

For the first year of this plan, the fiscal year ending March 31, 2026, we expect a leveling-off of economic growth due to a shift from free trade to protectionism in the global economy We were therefore careful to establish a more conservative plan We incorporated the impact of カジノシークレット出金 tariffs, which are of concern, as a negative factor in profit for the year, with an impact of around 50 billion yen In terms of exchange rates, we also assumed that the yen would remain high compared to the previous fiscal year, as a result of which we estimated profit for the year of 3400 billion yen

While facing such external factors in the short term, the medium-term outlook for our カジノシークレット出金 is bright For this new Mid-Term Business Plan, we set a target of 4500 billion yen in profit for the fiscal year ending March 31, 2028 We are therefore aiming for more aggressive growth by setting a higher target than for the previous Mid-Term Business Plan

In the previous Mid-Term Business Plan, we organized our domains for investment under three values The first of these is core value, which is where our strengths lie, including our mobility and semiconductor-related カジノシークレット出金 The second is social value (value generated by カジノシークレット出金 that contribute to solving social issues), where we use the social capital of our battery, recycling, and other カジノシークレット出金 and return the added value generated to social capital And the third is nature value (value generated by カジノシークレット出金 that reduce impact on the environment), where we return value to natural capital, including our renewable energy and hydrogen-related カジノシークレット出金

Our target of 4500 billion yen in profit for the year is based on expectations that growth in our core value カジノシークレット出金 will continue and that we will reap the benefits of years of investments As we target even greater growth, we will continue our strategy of investing in more distinctive markets During the fiscal year ending March 31, 2026, we will focus in particular on circular economy カジノシークレット出金, centered on recycling, as part of our social value efforts, which have already included our acquisition of Radius Recycling, Inc in the United States, announced in July 2025

In line with the Toyota Group's expansion of its plants, we have been engaged in resources recycling businesses in Japan and overseas since the 1970s Leveraging this experience, we aim to develop an automobile collection and recycling platform, including battery recycling, in the huge カジノシークレット出金 market, with Radius Recycling at its core After building a track record in the カジノシークレット出金, we will then move to India, China, and other markets

We will strive to expand our core value mobility-related カジノシークレット出金 with a view to the future while carefully identifying market trends Taking into account that the shift to battery electric vehicles is slower than expected and that it will take time to achieve returns in renewable energy due to the nature of the business, we are placing our expectations on the recycling business in this new Mid-Term Business Plan

Since announcing our ROIC targets in the previous Mid-Term Business Plan, awareness of ROIC management has spread within the company

In this new Mid-Term Business Plan, we have set ROIC targets for each of our designated values, with targets of 15% or more for core value, 10% or more for social value, and 5% or more for nature value Clarifying ROIC targets by value domain this way will enable カジノシークレット出金 to appropriately allocate our investments

Breaking down our investments by type of value, we expect to allocate 5000 billion yen to core value This investment is for such things as further expanding our existing カジノシークレット出金, adding functionality, and improving efficiency through digital transformation We will also allocate 4000 billion yen to social value This investment is for proactive efforts to secure an advantage in target markets, including the recycling business I already mentioned and the healthcare business in India And finally, we will allocate 3000 billion yen to nature value for careful, staged investments, with consideration given to the investment environment and timelines of the renewable energy business

Please note, though, that these allocations are based on current expectations, and they prioritize returns We plan to be flexible in our search for カジノシークレット出金 to invest in while constantly assessing the business environment For example, there are currently projects in the social and nature value domains that are falling short of expected profit levels, but we have expectations for upsides over the coming three years in terms of technological and business model transformations When it comes to social value, we are making preemptive moves based on the potential for increased awareness of the added value that recycling can bring to help limit new mining of underground resources Equally, regarding nature value, we are expecting a growth in returns in the area of renewable energy due to technological innovations in power storage and conditioning

Looking at this 12 trillion yen investment in terms of regions, we aim to invest 4000 billion yen in the Global South Having achieved a dominant position in Africa, we now intend to focus on India, Indonesia, and other countries as our next markets We will apply the backcasting method, while studying our achievements in Africa, to identify optimal カジノシークレット出金 for each region

For example, India is not a market in which a growing middle-income group contributes directly to economic growth, as it does in Africa Rather, it is a complex market with independent states having a mix of ethnicities and cultures However, our strong relationships with Japanese automakers are delivering solid profits In the mobility area, we intend to grow our business in India by combining our current business foundation with insights we acquired through our Africa business Therefore, there will be no need for additional large investments in areas such as asset acquisition And speaking of asset acquisition カジノシークレット出金, we plan to focus on the fields of healthcare and lifestyle, including hospitals

On the other hand, we will continue to identify and replace カジノシークレット出金 that do not have potential for profit growth We still have numerous カジノシークレット出金 within our corporate group achieving net profit after tax of 1000 million yen or less, so we will take new steps to rectify this situation We have completed our withdrawal from petrochemical カジノシークレット出金, we have no stranded assets, and we only have a few equity-method investments We will return to the basic premise of カジノシークレット出金 being profit-generation vehicles, and we will identify which of our カジノシークレット出金 to spend time developing, which to consolidate, and which to discontinue

We established a company-wide target of 15% ROE for the fiscal year ending March 31, 2028 In addition to pursuing returns, we are also considering reducing shareholders' equity to achieve this target

In terms of pursuing returns, we will actively invest at an even higher rate than before We set ourselves a three-year cumulative operating cash flow target, on which our investment strategy is based, of 14 trillion yen The nature of our カジノシークレット出金 is that sales directly impact cash, and because we only have limited investment profits accounted for using the equity method, we can book net profit after tax as cash We also constantly generate almost 5000 billion yen in cash annually, including through depreciation expenses, and have even exceeded 5000 billion yen in cash flows for the two most recent consecutive years Therefore, our target of 14 trillion yen over three years is conservative

On the other hand, net debt-to-equity ratio (DER) for the fiscal year ended March 31, 2025, fell to 039 times Even with a plentiful operating cash flow, we are aware of the need to further leverage our position as a trading company To this end, we clarified our policy in this new Mid-Term Business Plan to use both operating cash flow and financial cash flow as investment resources We lowered the management criterion for our net DER indicator from the up to 10 times in our previous Mid-Term Business Plan to a more realistic up to 08 times We also promoted internally a policy of further leveraging ourselves to invest more often and in large projects as well To boost profitability, we are taking a more aggressive stance in our search for new business opportunities while adding multiple projects to the pipeline

In terms of reducing shareholders' equity, we decided that now is the time to take serious measures We will, therefore, focus on capital policy and work to create a leaner balance sheet by eliminating cross-shareholdings

For the fiscal year ending March 31, 2026, we intend to reorganize our cross-shareholdings within the Toyota Group By カジノシークレット出金, our holdings in Toyota Industries Corporation account for about 80% of such stocks By divesting these stocks, we will further improve our balance sheet bottom line We understand the importance of properly implementing capital policy within the Toyota Group At the same time, however, it is also extremely important that we fulfill our investor relations accountability in terms of capital policy Thus, our challenge is to clearly explain that policy to our long-term shareholders

Of course, we still have to think about progressive dividends to meet the expectations of shareholders From this new Mid-Term Business Plan, we have set a new target of 40% or more for the total payout ratio To maintain the previous policy of continuous progressive dividends, we are also considering the acquisition of treasury stocks as one measure of returns to shareholders

We realize that to meet the expectations of shareholders, it is important that the stock market appreciates our growth potential We are also aware of issues with our current price-to-equity ratio (PER), which is an indicator of corporate growth

When it comes to business activities, our shareholders positively evaluate カジノシークレット出金 for the good results produced by our unique businesses pursued by no other company They also rate カジノシークレット出金 highly for the size of the automotive industry and our solid relationship with industry leader Toyota Motor Corporation To ensure even more stakeholders feel the same way about カジノシークレット出金, we will strive to enhance corporate value on many fronts

As one of those efforts, we implemented a stock split in July 2024 We are not only working to expand the investor base through this action but also to increase the liquidity of our stock as well

To continue improving ROE as in the past, we will implement an investment strategy that attracts and excites the stock market, with a rollout over the coming three years of カジノシークレット出金 that other companies do not have

During this new Mid-Term Business Plan, we are implementing an investment strategy focused on the keyword "synergies" By generating synergies among our various strengths, business domains, and local markets, we aim to provide new value and achieve sustainable growth From our distinctive Africa カジノシークレット出金 to recycling, renewable energy, batteries, and other カジノシークレット出金, by skillfully combining many different elements, we will create a new and unique business model that achieves corporate growth In addition to this unique business development, we will put even more effort into related public relations activities In this way, we expect a positive reaction to our growth pathway that will lead to an improved PER

As shown by our past results, we have made good on our promises to improve business performance and dividend payouts We ask our shareholders and investors to have faith in カジノシークレット出金, look forward to a positive long-term future, and continue to offer their support