Medium-Term Management Plan from FY03/21 to FY03/23
For details, please see the following documents.

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United Innovation Value Co-Creation

１．Pursue growth

• Pursue growth driven by e-comic and Health IT businesses
• Evolve into a services-oriented business
• Pursue co-creation (M&A, overseas growth)

２．Continue to build a strong foundation to support growth

• Foster value creation skills in our employees
• Advance through AI and data
• Improve quality management
• Encourage work-style reform

1. Persue growth

●  Sustained growth in core businesses

　・E-comic

　　　Secure a solid position as an e-comics brand

　・Heath IT

　　　Launch new services in the nursing care and health fields

●  Evolve into a services-oriented business

　・Increase services sales to 80% and overof total sales

●  M&A activities

　・Set a strategic investment budget of ¥30 billion

Give weight to growth investment in priority businesses and offer appropriate shareholder returns, assuming we have secured a stable financial foundation

Financial Soundness

• Secure financial soundness based on the characteristics of business and risk, while at the same time using appropriate financial leverage and engaging in growth investment

Growth Investment

• Invest to maintain and accelerate growth, mainly in priority businesses
• M&A Investment: Established ¥30 billion budget for strategic investment

Shareholder Returns

• In addition to stable dividends, strive to increase dividends linked to performance; aim to maintain a 30% payout ratio

※EBITDA＝Operating income + depreciation and amortization