Toyobo (TYO:3101) outlined its 2030 medium-term plan, targeting ROE above 8% while balancing profit growth and financial stability, after expecting to miss key targets in its previous plan, according to a Monday filing on the Tokyo Stock Exchange.

The company will focus on portfolio reforms, shifting resources to priority areas such as advanced materials, healthcare, and environment and energy, while strengthening its management base and risk controls.

Toyobo plans to boost operating cash flow and cut annual capex to improve free cash flow, while aiming for a 30% total return ratio. Priority businesses, including industrial films, biotechnology and electronic materials, will see increased investment to drive growth.