Tokai Carbon Co., Ltd.
Notice on Progress Report of “Vision 2030” and Initiatives for Realizing Management with Awareness of Cost of Capital and Stock Price
Tokai Carbon aims for net sales of 500 billion yen, EBITDA of 20%, and ROIC of 12% by 2030. While considering the slowdown in the EV market, it is promoting initiatives including responding to AI-driven growth, developing sustainable technologies, and structural reforms, aiming to reduce cost of capital and achieve an early PBR above 1x.
Key Figures
- Net Sales: 323 billion yen (2025 actual), 346.7 billion yen (2026 forecast), 500 billion yen (2030 target)
- EBITDA: 18% (2025 actual & 2026 forecast), 20% (2030 target)
- ROIC: 6% (2025 actual), 5% (2026 forecast), 12% (2030 target)
AI要約
Progress and Goals of Vision 2030
Tokai Carbon has set a long-term management vision "Vision 2030" targeting net sales of 500 billion yen, EBITDA of 20%, and ROIC of 12% by 2030. Net sales for 2025 are 323 billion yen, EBITDA 18%, and ROIC 6%, with forecasts for 2026 being net sales of 346.7 billion yen, EBITDA 18%, and ROIC 5%. Adjusted ROIC considering goodwill amortization is used.
Specific Initiatives and Management with Cost of Capital Awareness
Although the impact of the EV market slowdown will continue through 2026, Tokai Carbon is responding to demand expansion driven by AI growth by expanding industrial furnace production capacity and advancing new business development. For sustainable value creation, it promotes the recycling of carbon black from used tires and the development of CO2 solid carbonation technology. Additionally, structural reforms of the smelting & lining business are underway. Measures to maintain and improve ROE exceeding the cost of capital and reduce WACC are being promoted with the aim of achieving an early PBR above 1x.
