Maruha Nichiro Group's New Medium-term Management Plan: For the ocean, for life MNV 2024
New long-term corporate vision toward 2027
We redefined the long-term corporate vision to enhance enterprise value and generate sustainable growth.
New Long-term Corporate Vision |
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Business Vision |
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Overview of new medium-term management plan: For the ocean, for life MNV 2024
Three main strategies in new medium-term management plan
To pursue the redefined long-term corporate vision, we develop back-casting approach road map for nonlinear growth and commit to “integration of business strategy and sustainability”, “implementation of management for creating value” and “strengthening business foundation for sustainable growth.”

Integration of business strategy and sustainability : creation of MNV
Through integrating business strategy and sustainability, we will create Maruha Nichiro Value (MNV) to all our stakeholders and enhance enterprise value and generate sustainable growth. To create MNV, we will steadily execute business strategies for maximizing “Maruha Nichiro Economic Value”, which is the foundation to make business continuous, and aim for maximizing “Social Value” and “Environmental Value.”

Implementation of management for creating value: business strategy financial KGI
Target for FY2024 (A) |
Target for FY2027 (B) |
Forecast for FY2021 (C) |
Gap | ||
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A-C | B-C | ||||
MNEV (billion yen) | 9.5+ | 11.0+ | 8.9 | 0.6 | 2.1 |
Net Sales (billion yen) | 960+ | 1,000+ | 860 | 100 | 140 |
Operating Income (billion yen) | 27+ | 31+ | 23 | 4 | 8 |
EBITDA (billion yen) | 46.5+ | 50+ | 41.2 | 5.3 | 8.8 |
ROIC | 4.3%+ | 5%+ | 4.1% | 0.2pt | 0.9pt |
ROE | 9%+ | 9%+ | 10.7% | (1.7pt) | (1.7pt) |
Net D/E Ratio | < 1.2x | < 1.0x | 1.4x | (0.2pt) | (0.4pt) |
*Basic concept of Maruha Nichiro Economic Value (MNEV)
We calculate “MNEV spread” by subtracting weighted average cost of capital (WACC) from return on invested capital (ROIC) and obtain MNEV by multiplying MNEV spread by amount of invested capital. It represents the economic amount of added enterprise value from the business operation.

Implementation of management for creating value: sustainability
We will clarify the role that we should play as the No.1 seafood company in the world and review materiality and aim to creating “Environmental Value” and “Social Value.”
Environmental Value |
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Social Value |
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Strengthening business foundation for sustainable growth
Creating and delivering health value based on consumer's needs |
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Developing innovation ecosystem |
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Active investment in human resources |
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Strengthening corporate branding |
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Managing risk of intellectual property and utilizing intangible assets |
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Developing foundation for promoting DX and utilizing digital technology |
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For the ocean, for life MNV 2024
Maruha Nichiro Corporation / Maruha Nichiro Group Medium-term Management Plan