Mitsubishi 2004 Annual Report Download - page 25

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23
FINANCIAL TARGETS
Financial targets to be achieved by fiscal 2006 are as follows:
In billions of yen
Fiscal 2006 target Fiscal 2003 results
Net sales 2,490.0 2,519.4
Operating profit (loss) 120.0 (96.9)
Ordinary profit (loss) 100.0 (110.3)
Net income (loss) 70.0 (215.4)
Equity ratio (times) 2.5 35.4
MMC has also targeted a 40% reduction in interest-bearing debt (¥425.0 billion), based on the balance of interest-
bearing debt as of March 31, 2004, which stood at ¥1,062.6 billion.
The aforementioned targets are underpinned by a series of initiatives. While emphasizing improved efficiency in
asset and funds utilization, MMC will implement reductions in variable costs as well as fixed costs including headcount
and the closure of plants. The Company will continue to undertake capital investment in the development of new
models to be launched from fiscal 2005 onward that exemplify the MMC essence, work toward restoring credibility
with customers, reform sales functions in North America, and renew business models in China including investment in
local partners. Focusing again on my role as CFO and the importance of financial data in evaluating a company’s true
business condition, I will foster healthy communication with the frontline to ensure their views are incorporated into
management’s policies and action plans.
MMC is committed to achieving the targets of its Business Revitalization Plan, driven by the desire to increase
stockholder value. We thank you for your continued support and understanding.
HIIZU ICHIKAWA
Managing Director
Chief Financial Officer