Thank you very much for taking time out of your busy schedules to attend our company group's management overview meeting today. Also, we sincerely thank you for your exceptional kindness and support towards our business daily. I would like to take this opportunity to express our gratitude once again. Today, I will explain the management overview based on the materials on the screen in front of you. So without further ado, let's get started due to time constraints. Our company announced a long-term plan called Vision 2030 three years ago in 2021. Three years have passed since then, and during this time, we have been promoting this long-term plan while dealing with various major environmental changes, such as the conflict in Ukraine and intense inflation, as you can see here.
I will explain the current situation in detail later, but our target for the fiscal year 2024 is a core operating profit of around JPY 125 billion. In that sense, it is truly regrettable that we are behind the initially expected operating profit or performance. We are currently working diligently with relevant parties to review this area. This time, there are various environmental factors, which I will explain later. I can't tell you numerically what will happen, but I believe that I will be able to provide an explanation, including specific numbers, at the management overview in November. We are in the midpoint year of the long-term plan for the fiscal year 2025. Even though there are environmental factors I mentioned earlier, we do not intend to change the major direction of the long-term plan.
Therefore, I would like to explain from the standpoint of how many years it might take to achieve the desired state for the fiscal year 2025. Even during such major environmental changes, our company has been moving forward with this long-term plan in the midst of the third wave. Originally, we started the core chemistry business in Omuta in 1912, and in 1958, we were the first in Japan to start the petrochemical sector in Otake, Iwakuni. Now, the third wave, namely the wave of CO2 reduction and environmental load reduction, is coming, and we are amid this third wave. As I mentioned earlier, we will continue to strive towards the realization of Vision 2030 in the direction we have just described. We kindly ask for your continued support and cooperation.
First of all, we have already announced the financial results for the fiscal year 2023, and the outlook for this year. As you can see here, in 2023, our core operating income was JPY 96.2 billion, and the bottom line was JPY 50 billion. Unfortunately, it has been decreasing since 2021. We have repeatedly revised our core operating profit downwards, causing great inconvenience to everyone. However, the final result was somehow above our expectations. On the other hand, as you can see here, we have steadily increased our profits to JPY 111.3 billion in the growth domains, even with environmental changes. In that respect, the core operating profit is JPY 96.2 billion, and the growth domains are JPY 111.3 billion.
So unfortunately, the so-called basic and green materials area has resulted in around -JPY 10 billion. For the fiscal year 2024, we are aiming for a core operating profit of JPY 125 billion, growth domains of JPY 126 billion, and the basic and green materials of JPY 4 billion, aiming to achieve profitability. We're still only two months in, but for now, we're making steady progress. First of all, regarding shareholder returns, our company group basically makes shareholder returns based on the basic policy at these four checkmark points. For the fiscal year 2024, compared to the previous fiscal year, we plan to increase the dividend by JPY 10, bringing it to JPY 150. In any case, we believe it is important to steadily increase performance and return to our shareholders.
We would like to continue to uphold the executive disciplines. Regarding the basic policy of business operation for the fiscal year 2024, as I mentioned at the beginning, we are quite behind in achieving the long-term plan's core operating income of JPY 200 billion, which we aim to achieve by 2025. Therefore, while reviewing the on-site environment, both internally and externally, I believe we will be able to explain in November, including numbers, the directions we will take. In any case, considering the current situation, we would like to respond with the following basic policy for this fiscal year in order to somehow return to a growth path of the long-term plan announced in the fiscal year 2021.
That is the original goal we set.... Based on the awareness that our most important business portfolio transformation is still a work in progress, we are steadily growing yearly in our growth domains. We will plan and execute various measures to accelerate the growth. As for basic and green materials business, we have finished the first phase, but unfortunately, we couldn't have sufficient results yet. We will aim to become a business entity that sustainably achieves reduced volatility and stable profit realization by ensuring the execution of the second phase of our plan. On the other hand, as for the external environment, as shown here, we will continue to thoroughly manage our cash flow to be able to flexibly respond to geopolitical risks, sudden increases in raw material costs, and changes in exchange rates. We will continue to manage the KPIs set in our long-term plan in stages.
Especially for non-financial aspects, which is a new endeavor, we will verify our appropriateness and validity while tracing the path our company is taking to ensure we are moving in the right direction. We will continue these activities. Furthermore, with basic and green materials at the core, we will expand and accelerate our collaboration with local communities and other companies towards achieving carbon neutrality. As a first mover, we will take action and strive to connect this to actual social implementation. In order to realize the strategy I just mentioned, we will continue to promote DX and work style reform as a base, and we will implement measures to aim for further improvement. As I mentioned at the beginning, we will continue to provide solid returns to our stakeholders, especially for shareholders. We will also raise the level of ROE and strive to improve capital efficiency.
Regarding the current situation, as I will mention later, the capital efficiency itself has been slightly declining. Therefore, we plan to review it thoroughly once again to improve the capital efficiency. By doing so, we aim to meet your expectations. You may have seen this slide before. It's our performance history. As you can see, since 2019, the performance in the growth domain has been steadily increasing every year. If you take a weighted average of the bottom numbers over the past five years, assuming we achieve JPY 125 billion in 2024, we have achieved about 18% growth in the growth domains. At this pace, unfortunately, we won't be able to follow the original long-term plan for 2025, but I think we can achieve it with about a 2-year delay. This is because it is based on an organic base.
However, on the other hand, regarding basic and green materials, as you can see from the numbers here, we initially achieved record profits in 2021. But since then, volatility is still manifesting, and we have not yet reached the improvement of a robust structure that earns stable profits. We are considering continuing to strengthen our structure, including collaboration with other companies for this matter. We are examining how far our company's constitution can be improved. Initially, we plan to earn JPY 40 billion in basic and green materials by 2025, but achieving this goal is quite challenging. We are verifying how much we can increase the numbers. Once we have a clear view of this, we are also considering what will be the best form for the balance of expected profits from the four business divisions, from basic and green materials to life and health.
We are currently proceeding with our deliberations on the premise that we will not change our target for 2030. I have summarized a bit about what we have done in the past. We have worked for the past three years, but what direction will we aim for in the future? Firstly, regarding the growth domains, we are trying to maximize our efforts in life and healthcare. In our plan, this is the area that is least affected by economic fluctuations and can expect relatively static revenue. Therefore, our goals in this area are quite challenging. Currently, as we are reviewing our plan for life and healthcare, we are working out how to achieve our goals, making it an area with a significant challenge. Looking into the two core businesses, vision care and agrochemicals are expanding very steadily.
As for vision care, although there was a sense of delay in the first half of the fiscal 2023 due to inventory adjustment, it is completely recovered at this point. Therefore, we see these two core businesses continuing to expand smoothly. On the other hand, in terms of building the third pillar, the oral care and nonwovens business are particularly slow to expand compared to initial expectations. Regarding this, I mentioned in a previous explanation that we are considering M&A due to our weak business base in the U.S. . However, we have to consider the partner in M&A, so I'm sorry, at this stage today, we have not yet reached the level where we can talk. We are currently reconsidering various options, including the sense of schedule around here.
As for the current situation of the nonwovens business, as written here, the hygiene materials business is in a very tough situation. However, on the other hand, by creating a joint venture with Asahi Kasei, it has become possible to optimize our facilities. In this regard, it is one point to realize this plan firmly with the synergy that can be obtained. Another point is that by bringing together the new technologies of both companies, new technology developments and new product developments are emerging in the value-added field. Therefore, I think the key is to firmly expand this area and change the portfolio. Also, we have set quite challenging goals in this area, and as I mentioned earlier, multiple items, including M&A and alliances, are now on the short list.
So I think we will be working on whether we can move toward the initial goals we intend to achieve as we realize these. Next is mobility. As you can see here, vehicles production is also improving, and in addition, our company's unique polymer, starting with solar cell encapsulants, the field of renewable energy is also growing steadily. In that respect, the development of material is going smoothly, and originally, the goal was JPY 60 billion for the fiscal year 2025. But already at this point of the fiscal year 2024, we have set a goal of JPY 60 billion. Therefore, we are moving forward in a form that overshoot. I think another point is how to implement the field of solutions and earn cash. Including such things, I am thinking that we want to continue to expand further while overshooting the plan for mobility.
The third is ICT. As for ICT, the situation has been very tough, but now, in terms of semiconductors, we can see hopeful signs, mainly in the logic domain, or the display is gradually getting out of the terrible state at one time. That's the situation. We have already strengthened in Taiwan through equal stakes, and we are also increasing the capacity of our facilities. We have also announced technology for pellicle, and we have taken various measures, including the next generation and the generation after that. Therefore, we are preparing to make a start dash along with the improvement of the environment, and I think it is very important to firmly reap the fruits of that. However, as written here, regarding Apple, there is a slump in demand in the imaging market, and we are struggling because the fields of XR, AR, VR, we are falling behind the schedule.
Therefore, we are aiming to leverage this area to eventually run our facilities at full capacity. If we do that, as I will explain later for ICT, we have been achieving steady growth of more than 10% on an annual average, so we want to keep the flow there and achieve our goals. Indeed, the area with the most challenges is basic and green materials. As for basic and green materials, as it is shown here, unfortunately, it has become -JPY 10 billion in fiscal 2023, at the end of the first phase of reconstruction. We are looking at a recovery to JPY 4 billion by 2024, but from there, we still think there is a considerable distance to achieve the figure of JPY 40 billion that we originally planned for the fiscal year 2025. We are currently advancing various projects and assessing their results.
We are also considering how much effect can be recognized from them. While observing this, we would like to further strengthen our business. As I mentioned before, this is the summary of what I had just said. Ultimately, after this long-term planning period, we want to divide our direction into two major areas, growth domains and basic and green materials. The reason for this is that the flow of these two areas is different. Regarding the growth domains, we indeed aim for high profitability and high growth. We want to aim for business entity that can demonstrate our presence globally in the field of global, specifically chemical business. As for basic and green materials, we are selecting items to focus on and realize sustainable green chemicals business centered on competitive derivative.
We are thinking of reinvesting the cash we earned in the basic and green materials into our own business, and by doing so, we can achieve sustainable growth. We want to strengthen the foundation of our business in a self-reliant manner. The long-term plan consists of the five basic strategies mentioned here. As I said at the beginning, we have no intention of changing our thinking, so we will proceed based on these basic strategies. Firstly, in our long-term plan, we are committed to building a business model that contributes to society and helps solve social issues. In this regard, we have set indicators such as Blue Value and Rose Value to measure this, and we have been tracking this data. Currently, the situation is as shown in this graph. We are steadily growing.
However, as shown in the graph on the right, there is a difference in product composition for the fiscal year 2023, and unfortunately, it seems that the gross profit of Blue Value has fallen compared to the previous year. However, for the fiscal year 2024, we believe that it will return to its original state anyway, so we recognize that we are growing. From here, I would like to explain each business separately. First, let's talk about life and healthcare solutions. As you can see here, we're expecting JPY 36 billion in fiscal 2024, up from JPY 14.8 billion in fiscal 2019, with an average CAGR of 20%. Therefore, if we can grow by 20% each time as planned, we will achieve our long-term goal with a delay of two-three years.
The goal was tentatively set at JPY 65 billion for fiscal 2025. So recognize that we will probably reach the goal. However, we would like to bring it forward as much as possible, and to do so, we are considering using methods such as M&A and alliances with other companies to bring it forward. As I mentioned earlier, the core businesses of vision care and agrochemical products are expected to continue to grow steadily. However, the key point is to further pursue the strengthening of the revenue base and the manifestation of synergy in culture, which is at the core of oral care. Regarding the nonwovens, the key point is how to enhance the profitability here and the integrated company with Asahi Kasei's nonwovens fabric business, as I mentioned earlier.
Regarding monomers, as you can see here, we are expecting a market growth of 3% overall and a 6% growth in the high refractive index lens market. We are preparing facilities to match this, as we can expect significant growth in the areas we are targeting. In the field of high refractive index lenses, we have already started launching plants in Omuta, and we have also started the basic design for the next enhancement. In addition, for high refractive index materials of 1.60-1.67, ML Tech, a related company of ours in South Korea, will utilize the facilities here to further expand its capacity. By doing so, one of the points is to firmly secure our position in the lens monomer market.
In addition, we are further accelerating sales, and in the U.S. , the trend towards high refractive index lenses is progressing. Already for Costco, which is at the core, the transition from polycarbonate to our high refractive product has already progressed in almost all stores. In addition, for e-commerce, as I have written here, Zenni is a very large e-commerce eyeglasses company in the U.S. , and we have fully delivered our product there. That place is also growing at a tremendous pace, and the U.S. has been growing steadily. In China as well, while acrylic-based products are more common, the demand for high refractive products has been increasing significantly. Especially when it comes to thinning and various coatings, the ease of coating and processing is an advantage over traditional acrylics.
Therefore, while appealing to these points, we are also strengthening our marketing and expanding the high refractive index lenses market in China. That's the current situation. In addition, not only selling lens monomer, but also selling coating materials, we have been acquiring companies centered on a U.S. company called SDC, and it has increased considerably. We are currently marketing not only coating materials, but also machines for coating as assessed. Sales are also increasing. Here, not only in the field of lenses, but also in other areas such as mobile objects or industrial goods, the market is growing considerably. In this regard, we are aiming to expand not only in the lens market, but also in other markets as well. We are dealing with agrochemical products. With the acquisition of Meiji Seika Pharma, our pipeline has expanded considerably, especially for environmentally friendly and low-impact products.
Looking ahead, we are in a position where we can take various measures. The intangible assets and the strengths, or rather, the effectiveness of the patents that our company holds are as shown in the graph on the far right. Although our pesticide business is small compared to giant multinational corporations overseas, each of our pipelines is very distinctive and highly effective. That's the key point. Conversely, we are now in a position to develop our assets as materials in collaboration with these multinational companies overseas, which is broadening our scope. In that sense, by expanding our distinctive pipeline in a large market, we can expect steady growth overseas, or we are actually growing. In addition to pesticides, as shown here, this principle can be applied to other fields such as pet drugs, livestock, and household chemicals. We're expanding its application in new uses and markets.
With these combined efforts, we can expect steady growth in pesticides themselves, or we are actually growing at the moment. As for nonwovens, as shown here, we have facilities in Thailand and Japan. By optimizing these facilities, we understand that we can gain competitiveness, including cost competitiveness, by creating synergies. In addition, as shown here, by combining our polyolefin technology with the nylon or PET technology, which is a field we do not have, we are seeing a lot of demand in fields such as filters for electronic materials and components for eco-friendly applications, as shown here. We believe it is important to actively develop these areas and shift our portfolio from hygiene materials to industrial materials. This is about mobility solutions. As I mentioned at the beginning, the performance of our mobility solutions is steadily improving.
As shown here, the CAGR is 11%, but we expect to achieve the target for fiscal 2025 already in fiscal 2024. Furthermore, we expect to achieve a performance of plus alpha JPY 10 billion or more against the current target of JPY 80 billion for fiscal 2030. We have two major business groups, and as I mentioned earlier, the so-called materials business group is not only for automobiles, but also for renewable energy fields and new fields. The demand is strong, and we are steadily growing. We also have a solutions business group resource centered around ARRK and Kyowa. We have been struggling because it has been difficult to connect this group's resource to actual demand. However, we are starting to see some light at the end of the tunnel with some initiatives. I will explain more about this later.
Regarding materials business, as shown here, there is an example of solar cells in the field of renewables. In this area, we can certainly expect growth in both accelerated and standard cases. Anticipating this, our company is expanding the TAFMER plant in Singapore, and we plan to start commercial operation in May 2025. Of course, as you can see here, there are changes in the powertrain, such as electrification for automobiles, but we will create components that can respond to that. This will allow us to differentiate ourselves from other companies with next-generation polymers and the development of new processes to manufacture them. Therefore, for the next plant, we are considering strengthening this area by incorporating technologies to secure our position, considering such things. In addition, our customers are demanding a global supply, especially for automobiles.
To meet this demand, we'll fully utilize our PP compound production sites and functional compound production sites to ensure that we can respond to our customers' needs. We're committed to establishing systems that can reliably meet our customers' needs. As for the solution businesses, as you can see here, we have started to supply components not only for cars, but also for new transport systems and drones. Especially in the field of new transport system and drones, we are working with startups to contribute to a wider value chain from design to components, and we're working to create a new business model. At that time, we also deliver distinctive materials. For example, in the case of the UD Tape shown here, compared to the conventional carbon fiber tape or flat plate, we are developing products that greatly reduce environmental load and have cost competitiveness by utilizing microwaves.
We are planning to contribute further by doing so. We are thinking of using these initiatives as a catalyst and a breakthrough, and we want to create a model that can be utilized in various forms in other fields and developments based on this model. We're committed to expanding our reach and impact across various sectors. Regarding ICT, the performance has been fluctuating due to the influence of the silicon cycle, going up and down, but on average, it is growing at a CAGR of 12%. In terms of resources, we're prepared for the anticipated increase in needs that are expected to occur in the near future. So we're in a situation where we are just waiting for that to happen. Looking ahead, especially in the field of pellicles, we have already decided to construct production facilities for EUV or the next generation of carbon nanotube EUV pellicles.
We believe this will solidify our foundation. We're committed to staying ahead of the curve and ensuring a position in the industry. By doing so, we're considering further strengthening our position as the global number one in the share of pellicles and with semiconductors. We're committed to maintaining our leadership position in the global market. In addition to this field, our company has several products and technologies, but we have recognized that it is not enough for our company to continue to grow on this platform. Especially in the assembly and testing processes of semiconductor process, we are very weak, so we have decided to invest in Shinko Electric Industries. We will use this as a leverage to contribute to Shinko's new developments in various ways.
We have also set up a research organization and built a new research facility in Nagoya, and we are already considering various forms centered on that. We are committed to making significant contribution to industry and to our partners. We will explain some of it later, but I recognize that our technology products can be utilized in quite a variety of fields. Another characteristic feature is what we call converting solutions, but we call it in the field of coating and engineering materials. Recently, in the market of very high added value in the mono material or new fields, there are very unique products that are in high demand. But actually, meeting the needs of our customers, the profits in this field are steadily increasing. We're committed to delivering unique and high-value solutions that meet the evolving needs for our customers.
In addition to these, we have set a target of JPY 47 billion for the fiscal year 2025 for ICT. We're considering implementing measures to reach this goal as soon as possible. We're committed to achieving our financial targets and driving growth in our ICT sector. As I mentioned earlier, I am demonstrating our potential in semiconductor domain. As I mentioned earlier about the pellicle, we are vigorously developing it together with ASML and IMEC. Especially for EUV, sales have been steadily increasing, so I think it's important to firmly establish this. Regarding the semiconductor post-manufacturing processes I mentioned earlier, we believe we can make various contribution to Shinko Electric Industries. As seen here, in terms of materials for 3D assemblies or assembly materials for co-packaged optics and so-called multilayer composite materials, we believe our technology was significantly effective in various aspects.
We have decided on specific items and are vigorously proceeding with various considerations. Regarding the converting I mentioned last, we have already delivered products to such market. The market itself, for example, in the case of food packaging, is not necessarily is high growth field. However, in the context of mono materialization, for those whose properties require the characteristics, the market growth rate is very high. The demand for our product is very strong here, and it is a field that we are steadily expanding. Here is the explanation of basic and green materials. As I mentioned at the beginning, the graph on the left, when we have shown before, has of course become profitable. Unfortunately, earnings has been declining since 2021, and we recognize that it is important to figure out how to improve it.
For that reason, we have been implementing specific measures as shown on the right. I will break it down a bit more, but we have been implementing measures like the ones here since 2013. Especially from 2023, regarding phenol, we are considering whether we can bring forward the shutdown of the Ichikawa phenol plant by 2026, among other things. In addition, regarding PTA and PET, PTA plant has already been closed in 2023, and PET plant will be closed in the fiscal year 2024. Regarding polyurethane, there is a path here where we can expect significant growth and profit growth in the future. Especially for PPG or MDI, we have established an LLP with Sanyo Chemical Industries for PPG, and for high-performance MDI, we have already started construction with a joint venture with Kumho Chemicals in South Korea.
This will start up soon, and when it operates, we expect it to contribute to profit. In addition, the situation with TDI continues to be very tough. However, TDI plant is connected to other growth domain product, so we have decided to downsize while taking into account the impact on those areas. As for polyolefins, for PP, high-performance PP plant is starting up, so we have stopped one line in Chiba in accordance with that. Furthermore, we are considering various options, including collaboration with other companies, and we will strive to strengthen polyolefins in this context. As we have already announced about the cracker, we have already been considering it with three or four companies for each of our Eastern and Western bases. By accelerating this, we are forming an advanced complex that includes greening in total.
As I mentioned at the beginning, we are working towards a business entity that can create a cycle where we can earn cash in self-reliant manner, and reinvest as much cash as possible in our company. I have already explained a lot about chemical complex transformation. Along with the optimization of chemical complex, of course, its greening will also lead to one added value, or it will also become a point that leads to differentiation from competitors, especially overseas. We are actively working on this as well. We are thinking of moving as the first mover, receiving significant support from the government, and we want to strengthen this area as well. As for East Japan area, we are collaborating with Sumitomo Chemical and Maruzen Petrochemical. We have already established LLP with Idemitsu Kosan.
We are considering various things, such as what we can do if we stop the cracker production of Idemitsu Kosan in Chiba and bring it to our company. In addition, three companies are collaborating Keiyo Coastal Industrial Complex, which is also being vigorously developed. Regarding Western Japan, we are accelerating our considerations, including cooperation with Asahi Kasei and Mitsubishi Chemical, and collaboration between the Mizushima area and the Osaka area. As for us, we would like to show you the grand design or direction within fiscal year 2024, so we are proceeding with a sense of speed. In conjunction with what I just mentioned, one major point is creating a new business model as a construction of a solutions-based business model. For this purpose, we have created an organization called the New Business Incubation Center.
We tend to have a strong perspective from the upstream side, but we are thinking of creating a new solution business from the downstream perspective. So we have invited Mr. Omote, who has done quite a bit of new business development at Nitto Denko Corporation, and under his leadership, we have started building a business model for new business that is different from the traditional way we have been doing things. For this, we have three main streams. One is robot solutions, the second is data solutions, and the third is medical solutions. By combining a number of technologies or materials that our company already has, we can build a new business model. We are currently developing new businesses focusing on these three areas.
For this purpose, we have established a corporate venture capital, as shown here, and from there, we are also taking an approach to create new businesses in collaboration with startups and academias. Today, I will talk about an example of robot solutions. Originally, our company started developing materials for robots earlier than other companies. However, the model at that time was basically a traditional matching type, where we would listen to the customer's needs, hear what kind of technology they wanted, what kind of product they wanted, and create it to match that. We have learned a lot, and now we are working with partners to create the overall concept and ideas for robot development, starting from material selection, parts design, prototyping, mass production, and so on. We are now moving forward with the ability to provide these things quickly and secure the necessary functions and resources.
Specifically, we are partnering with Rapyuta Robotics. They have an excellent software automation system, and by bringing together our resin parts, hardware, and such hard products, we are creating a new business in a design and planning. We are creating a business model that changes the way logistics warehouses are in a unique way. So the Rapyuta Robotics is also collaborating with Panasonic, and we think that we can contribute in various ways, including resin parts and hardware. We have already completed contracts with several companies, and this product, or rather, this solution, is also connected to actual demand. That's the situation we're in. To further strengthen these efforts, we have now started a business contest globally. By introducing a new system called Workday, we have been able to grasp our 20,000 global employees, and from there, we are getting business ideas globally.
This year, for the first time, we focused the business contest in Asia, and about 8 ideas came out. We invited those people to Tokyo, and the head of the business division also attended and listened together. For the good ones, the business division puts out money and accompanies them until the end of business, and we have started such an attempt. Next year, in fiscal 2024, we plan to hold a global business contest. Furthermore, we aim to expand our business operations, including both domestic and overseas affiliated companies. With this, we aim to strive for the construction of new business models, including the mindset of employees globally. This is the final slide. As I mentioned at the beginning, we are in a situation where our capital efficiency is going down, which is about increasing corporate value.
We need to raise this from the bottom, and as I mentioned last time, we need to raise the level of ROE. However, due to the situation, that it would have been good if we could talk specifically about raising the level of ROE this time, but it is difficult this time. However, I would like to be able to talk properly in November. In order to do so, we will execute the capital efficiency improvement measures listed here to increase our capital efficiency value. This is not just about what is listed here, but also about research and development, improving production fixed cost, and advancing DX. We are also considering the efficiency of DX. In terms of human performance, we're creating cross-functional teams to utilize human resources, and are currently verifying their efficiency. We will implement measures to further increase efficiency, including cost reduction.
We are currently revising the long-term plan with a combination of techniques, so I believe we'll be able to discuss various topics, including these in November. That concludes my explanation. Thank you very much for your attention.