Mid-Term Business Plan

Due to the progress till FY19 as well as the impact of COVID-19 pandemic, the time for achieving these business targets remains undecided. We will announce it as soon as the situation gets under control.*1 The forecast number in the graph was released in April 2019

POLICY
Focus on employee proficiency, and
develop a culture and systems that
encourage Conscience and Creativity
across our organization worldwide.

Targets and Priorities

Targets

Unique items/Affordable prices

Optimum quality & price for local lives

Professional & diverse manpower

Sustainable growth

Priorities

Global Supply Chain Management

Product Development

Global HR Management

Group Corporate Governance

Detail per priority

Global Supply Chain Management
Improve planning accuracy to reduce in-store discounting
by 20% in Apparel
Review sourcing process to decrease warehouse stock level
by 50% at distribution centers
Product Development
Develop core items that fit to any local lifestyle
More flagship stores in major countries/regions
Enlarge stores in Japan (100 stores with 1600 m2 capacity)
Renovate existing stores worldwide (20 stores/year in China)
Narrow the price gap by location
Same retail price for same strategic item
Global HR Management
Set up a global HR system
Start global incentive plan
Group Corporate Governance
Apply same standards within the group

Develop a culture and systems

First : install a system to standardize the same work done by various people and processes.

Next : foster a culture of creativity and empowerment.

Goal : Sustainable development of brand and corporate values.

Business Plan

Revenue
JPY500billion
Operating Profit
JPY60billion
ROE
15% or greater
Stores Worldwide
1,200

No. of Storesincluding Café&Meal MUJI and IDÉE (MUJI stores in parentheses)

Shareholder Return Policy

We are committed to returning profits to our shareholders through an annual payout ratio of 30% of consolidated earnings, after making investment in store openings and renovations to increase communication with our customers, and making IT investment to support backbone systems and digital marketing for future development.

FY15FY16FY17FY18FY19
Dividend/share (JPY)24.629.334.538.736.4
Dividend Total (JPY M)6,5457,7689,08910,2019,596
Dividend payout ratio (consolidated)30.1%30.1%30.1%30.0%41.1%
ROE16.4%17.7%18.6%18.8%11.8%

*2 A stock split (1:10) was implemented on September 1, 2019.
The above dividend per share is calculated assuming that this stock split had been implemented at the beginning of FY2015.