“On May 1 Air Water announced a new 3-year mid-term management plan to commence in FY2013. For the final year (2015) the targets are sales of 700 billion yen, ordinary profit to maintain 6% at the current stage of 42 billion yen, and a final net profit of 23 billion yen. Other targets are an equity ratio of 40%, an ROE of 10% or more, and a net D/E ratio of under 0.75 times. The dividend payout ratio has a target of 30% of the net profit of the current consolidated statement. The net profit of the current consolidated statement per share is anticipated at 97.2 yen for the first year, and 117.7 yen for 2015.

This mid-term business plan has growth and innovation as its key words, and was designated as NEXT-2020 Ver.2. It is positioned as the second step toward realization of a corporate vision of sales of 1 trillion yen by 2020, positioning this as a mid-term period. This will even more forcefully implement the Air Water style business model typified by all weather management and diversified business management.

The new mid-term plan is aiming at an increase of 30% in sales, and an increase of 19% in terms of ordinary profit over 2012. The drivers behind all of this growth are 2 non-gas related businesses, these being the medical business and the agricultural and food business.

Regarding the growth of this company during the next 3 years, “We would like to engage in a vigorous M&A strategy, mainly related to the non industrial related businesses, in other words those businesses related to people,” noted a spokesperson from the Public Relations Department.

Of the amount of funds invested in the next 3 years, it is anticipated that M&A will account for 60 billion yen, and capital investment 105 billion yen, making for a total of 165 billion yen.”