Medium-term management plan

Third Medium-Term Management Plan

In April 2021, we formulated our Third Medium-Term Management Plan.
We will continue to make efforts to make the Third Medium-Term Management Plan a three-year push for progress.

Management Vision

As a leading company in the feed industry, we contribute to the sustainable growth of the entire industry as our customers' strongest partner.

"Animal feed", " Aquatic feed", "Food business" and "Overseas businesses" are the four pillars for profitability, and in the ten years from the first year of integration in 2015, we aim to expand profits, set up a value chain with "Animal feed" as the core business, achieve sustainable growth, and increase corporate value.

Role & Basic Policy

The role of the Third Medium-Term Management Plan is to increase profit by fully utilizing the business platform strengthened in the Second Medium-Term Management Plan and to build a further foundation to enable sustainable growth.

Basic Strategies & Priority Measures

Basic Strategies
Further strengthen the profitability of "Animal feed", which is a core business.
  Basic Strategies
Accelerate growth of "Aquatic feed", "Food business", and "Overseas business".
  Basic Strategies
Promotion of ESG management and strengthening of our business platform.

✓Increase manufacturing facilities for cattle feed products and increase the sales volume of cattle feed.

✓Launch and sell poultry and pig feed that has a reduced impact on the environment.


✓Aquatic feed: Increase sales volume by launching products that are fitting of the times and meet customer needs, such as feed that has a reduced impact on the environment.

✓Food business: Rebuild our manufacturing system for consumer products and develop new products.

✓Vietnam: Increase profitability by increasing cattle feed manufacturing facilities and launching new products.

✓India: Establish stable profits by expanding sales to major users and reducing production costs.


✓Launch and run an ESG Committee.

✓Build a management platform that contributes to the running of the Company.

✓Work-style reforms.

Quantitative Plan (Consolidated)

Second Mid-Term
Management Plan
Third Mid-Term
Management Plan
Sales Volume(10,000 MT) 347.3 358.0 358.2 360.0 370.0 378.0
Sales(Million yen)* 212,886 215,050 214,120 215,600 220,400 224,900
Ordinary profit(Million yen) 4,466 5,737 6,081 5,400 5,800 6,200
  • *The third mid-term management plan is calculated based on January to March 2021

Shareholder Returns Policy

We think it important to pay out stable dividends from the company profit to our shareholders.
Based on stable dividends, we will aggressively invest in "capital investment", "research and development", and "nurturing human resources" to enable sustainable growth while aiming for a consolidated dividend payout ratio of over 25%.