Medium-Term Management Program “IGNITION 2028”
Deeper Growth, Faster Reform
The Role of IGNITION 2028
IGNITION 2028 is a mid-term management program spanning fiscal years 2026 through 2028, positioned as the first implementation phase toward realizing the long-term management strategy “TORAY Challenges 2035.”Building on the structural reforms and profitability improvement initiatives advanced through the previous mid-term management program, “Project AP-G 2025,” the Toray Group will accelerate the reignition of growth and the transformation of its business structure.
The Direction We Aim for with IGNITION 2028
With IGNITION 2028, we will focus on the following over the next three years while keeping our eyes on the “vision” we aim to achieve by 2035.
- Balancing growth strategies with structural reforms to transition our business structure to the next stage
- Building a foundation for future growth through initiatives targeting next-generation markets
- Strengthening our management foundation, including human resources, digital transformation (DX), and governance
Through these efforts, the Toray Group aims to achieve sustainable growth over the medium to long term.
As shown in the figure below, the basic policy of IGNITION 2028 is to enhance the “quality and accuracy” of our growth strategies and structural reforms, and to advance the transformation of our business structure and the strengthening of our management foundation to support future growth.
FY 2028 Financial Target
Billion yen
| FY 2025 Actual | FY 2028 Target | |
|---|---|---|
| ROIC*1 | 4.7% | About 7％ |
| ROE | 4.5% | About 8％ |
| (The above figures are based on the following assumptions.) | ||
| Revenue | 2,585.1 | 3,000 |
| Core operating income | 141.9 | 230 |
| Core operating margin | 5.5% | 8％ |
| D/E ratio | 0.50 | 0.7 or lower (Guideline) |
*1: Core operating income after tax / average invested capital (average of the balances at beginning and end of the period)
Assumption of foreign exchange rate for FY 2028: 150 yen / US＄
Assumption of crude oil price for FY 2028: 72.5US＄/ bbl
FY 2030 Sustainability Target
| FY 2025 Actual | FY 2030 Target | |
|---|---|---|
| GHG emission reduction*1*2*3 | 23% reduction ［vs FY 2013］ |
20% reduction ［vs FY 2013］ |
| The EX Score™*4 (Engagement Score) |
67.0 | 70 or higher |
| *1: | With the use of renewable energies and other zero emission power sources rising worldwide, the Toray Group aims to employ zero-emission power sources at a rate equivalent to or better than the targets in each country by FY 2030. |
| *2: | Calculated by multiplying the degree of financial control Toray has over the individual subsidiary, in accordance with the GHG protocol, the international standard. |
| *3: | Calculations include data for companies that joined the Toray Group in FY 2014 or later. |
| *4: | The EX Score provides an indicator of organizational health. It measures the gap between each individual’s expectations and their actual experiences. The score is maximized when both expectations and actual experiences are high and the gap between them is minimal. EX Score is a registered trademark of HRBrain, Inc. |