“JT-11” medium-term management plan targets have been exceeded. In the three years ended March 31, 2012 on a consolidated basis, the company achieved EBITDA CAGR of 8.3% (target: 5.0%) at constant rates of exchange and a dividend payout ratio target of 30% as recommended by the Board.
Japanese Domestic Tobacco Business: achieved EBITDA growth of 6.3% CAGR, well above the target of stable profit.
International Tobacco Business: achieved EBITDA growth of 10.3% CAGR at constant rates of exchange, despite increased uncertainties in the business environment.
Pharmaceutical Business: enhanced the pipeline of compounds in late stages of development, including NDA of a single tablet regimen containing JTK-303 (HIV infection) and advancement to Phase 3 of JTT-705 (dyslipidemia) and MEK inhibitors (melanoma).
Food Business: ‘Roots’ flagship coffee brand delivered strong and steady results. Processed foods progressively strengthened the business fundamentals to improve profitability
In the 12 months ended March 31, 2012, robust growth was achieved due to the effect of improved margins in the Japanese domestic tobacco and the international tobacco businesses. Adjusted EBITDA showed strong growth of 10.6% compared to the prior fiscal year, while revenue declined by 1.2%. An increase of 31.9% was achieved in profit attributable to the owners of the parent as a result of reduced income tax payment.
The Company’s Board is recommending a total dividend of ¥10,000 per share, an increase of ¥1,000 from the forecast of February 6, 2012, thereby increasing it to the level of achieving the JT-11 consolidated dividend payout ratio target of 30%, in the fiscal year ended March 31, 2012.