Good morning, everyone. Thank you very much for gathering here today. Sawai Group Holdings has formulated a new medium-term management plan Beyond 2027, which I am pleased to present to you today. I'll be going over these agenda items in detail today. Let me start on page four. I would like to review our previous medium-term plan, START 2024, which started in 2021, four years after NHI price revision became annual events. Under START 2024, we have drawn up a vision for the future that we would like to achieve in FY 2030, and for the first three years of the plan, we have been working on three pillars: expanding our market share in the domestic GE market, making business investments for future growth in our U.S. business, and developing new growth fields by entering into new businesses.
In our core domestic generic business, we faced various factors, both positive and negative, in an environment of annual NHI price revisions, supply shortages due to quality issues that began with Kobayashi Kako, and soaring costs. In principle, we withdrew from the U.S. business in which we made a full-scale entry in 2017. However, we also began exploring new business opportunities. As a result, total consolidated revenue decreased 5.5% and core operating income decreased 30% against FY 2020 results, partly due to the impact of the discontinuation of the U.S. business. In the domestic generic business, although the external environment was severe due to consecutive NHI drug price revisions to deal with supply shortage issues, we increased production volume by reinforcing production capacity and achieved the first launch or exclusive launch of a new product.
As a result, due to the increase in sales volume, our market share increased by 1% and revenue grew by 15%, EPS, ROE, and ROIC also improved. This is a review of the first pillar, expansion of market share in the domestic generic drug market. By leveraging our strengths in advanced patent strategy and formulation technology, we launched 65 new products during the three-year period, with total sales of JPY 35.3 billion. By aggressively investing approximately JPY 58.5 billion over a three-year period, including the transfer of production facilities from Kobayashi Kako and the construction of a new solid dosage form building at the second Kyushu plant, we are on track to establish an in-house production system of more than 20 billion tablets to lead the way in resolving the supply shortage of generic drugs. Here is a review of the second pillar, new businesses.
We have started working on new businesses such as digital medical equipment and PHRs, where we can leverage our strengths developed in our existing businesses. Here is a summary of our financial strategy. We invested JPY 73.6 billion in R&D, which is a growth driver, and JPY 70 billion in facilities to address supply shortages and for future growth. In terms of shareholder returns, we paid an annual dividend of JPY 130 per share on a stable and continuous basis, for a total dividend of JPY 17.1 billion over the three-year period. This is a list of issues we have identified to achieve our long-term vision for 2030 based on the above review of the previous medium-term management plan period. In the rapidly changing environment of the domestic generics business, the establishment of a sustainable business model, including the establishment of a compliance and governance structure, is a major prerequisite.
In order to play a central role and lead the generic drug industry into the future, the next three years are an important period for developing such a structure. We need to build a system that can respond to possible future changes in the industry structure, strengthen cost competitiveness, and improve capital efficiency. Above all, we recognize that strengthening our human capital, which is the source of value creation, is the most important factor in achieving these goals. In light of these issues, I would like to reiterate our vision for the future that we would like to achieve by fiscal year 2030. This is the group corporate philosophy and mind. I will skip the explanation. This vision is targeted for FY 2030. Generic drugs have already become social infrastructure.
To protect the lives and health of the people, we will continue to provide a stable supply of high-quality generic drugs, become a leader in the industry, and contribute to the resolution of social issues and the development of society by providing products and services that include not only quality generic drugs, but also preventive and diagnostic areas. Next, I would like to share our understanding of the business environment surrounding our company. The demand for pharmaceuticals will increase more and more due to the aging of society. On the other hand, labor costs will increase due to the need to secure labor amid a labor shortage. Needs for medical care and healthcare will become increasingly diversified and sophisticated as AI and digital technology innovations continue to advance. This is a summary of the environment surrounding the generic drug industry.
As a social issue with the aging of society and the resulting deterioration of healthcare finances, affordable and safe generic drugs are increasingly in demand. The supply shortage has not yet been resolved. In order to solve this problem, various policies have been incorporated in the NHI Drug Price Reform for fiscal 2024. All companies are required to develop a system to ensure a stable supply of quality assured pharmaceuticals. The report of the Ministry of Health, Labour and Welfare's study group on the industrial structure to achieve a stable supply of generic drugs and associated matters calls for the establishment of an intensive reform period of about five years to ensure production management and quality control systems, ensure stable supply capacity, and achieve a sustainable industrial structure to ensure a stable supply of quality assured pharmaceuticals.
The report also calls for the early resolution of supply instability and the steady implementation of measures to prevent its recurrence while starting promptly with those that can be implemented. In order to realize a stable supply structure in line with these three pillars, this medium-term business plan addresses establishment of trusted corporate foundation as its foundational theme and promotes the early expansion of our production capacity and intercompany collaboration and cooperation in order to resolve the shortage of pharmaceutical products. Here is the outlook for the generic drug market. The generic drug market will continue to increase by an average of 700 million tablets per year until FY 2030 due to the aging of the population. By increasing production capacity, we aim to raise our market share from the current 17%-21% by FY 2026, and further expand it to over 25% by FY 2030.
These are the quantitative targets for FY 2030. We recognize that business chances have arrived in the domestic generics business, and our sales target for the domestic generics business has been revised upward by JPY 40 billion from the 2021 plan to JPY 300 billion. We will establish a production capacity system of more than 25 billion tablets, aim for a domestic volume share of over 25%, and sell 24 billion tablets, the number one share among all pharmaceutical manufacturers to fulfill our social responsibility as an indispensable part of Japan's social infrastructure. We also aim to achieve ROE of over 13% and ROIC of over 10% by promoting initiatives to further improve return on capital. Up to this point, I have explained our future vision for FY 2030. Now I will explain our new medium-term management plan Beyond 2027.
This medium-term management plan marks the halfway point toward achieving our long-term vision. We are aiming for growth looking Beyond 2027, the final year of the plan, and overcoming various difficulties and limitations that may arise in the process. The word "beyond" expresses this strong will. The theme that will serve as the foundation of this medium-term business plan is establishing a trusted corporate foundation, and we will focus our management resources on ensuring quality and expanding production capacity in the generic business in order to pave the way toward achieving our long-term vision. In addition, we will continue to invest in growth areas where synergies with the generic business can be expected, with a view to establishing a framework for a leap forward and long-term growth during the next mid-term business plan period.
In addition, based on the basic policy of reviewing business portfolio and capital policy announced January 17 of this year, we will promote management with an emphasis on related KPIs. These are the key themes in achieving growth. We have established three themes, each with business strategy and management base as its starting points. Above all, the basic premise for all of these is to establish a trusted corporate foundation as the foundation for all of them. The following sections will explain each of these in detail. This page is about measures to prevent recurrence of inappropriate testing at our subsidiary, which we have been working on company-wide since last year. With the participation of outside experts, we are steadily implementing the five measures shown here to prevent recurrence. The details of our efforts and progress are regularly disclosed and updated on our website.
To establish a system for reliability assurance, we plan to introduce systems including manufacturing execution system, MES, or laboratory information management systems, LIMS, and strengthen our personnel structure, as you can see, and we will make effective investments in these systems. In addition, we will ensure objectivity in assessment of approval certificates and GMP audits through the use of external organizations, and will regularly manage progress by setting KPIs, including employee education. Next, I will discuss the key themes of our business strategy, steady growth in the generics market, and establishment of business sustainability. I will explain in detail the measures to achieve these goals and the necessary growth investments, especially the important ones of steady development and launch of new products and improvement of utilization rate and increase in production at invested production facilities. The driver of market share expansion is to increase sales of new products.
We will strive to increase revenue and market share by outperforming our competitors through the development of new products with a competitive edge and exclusive product launches based on our advanced formulation technology, which only we can provide. Another driver is to strengthen our ability to provide a stable supply. We will improve the utilization rate of Trust Pharmatech and the new solid dosage from building in Kyushu number two plant, as well as the production efficiency of the existing plants. In the former, we will steadily increase production volume toward the final year of the plan. In the latter, we will take all possible measures to both increase and improve overall revenue. This is the path of our own production capacity expansion toward 2030.
The upfront investment in production facilities and personnel that we have made in anticipation of future demand growth has realized stable growth, and we boast the highest production capacity and sales volume in the industry. In order to quickly resolve the supply shortage of generic drugs, including the launch of new products in the future and in anticipation of future restructuring and consolidation in the industry, we will aggressively expand our capacity and raise the current in-house production capacity of 18.5 billion tablets to over 22 billion tablets during the period of the medium-term business plan. In addition, we will take every possible measure, including the construction of our own plant and alliances with other companies, to further improve our supply capacity in order to establish a 25 billion tablet production system by 2030, a 35% increase from the current levels.
The final theme of our business strategy is continued investment in growth areas. The medical device, Relivion, is scheduled to be launched in the current fiscal year, and an application for the treatment of NASH is scheduled to be launched in 2027. Both are expected to start contributing to revenue at the timing listed here. As a new development, we will also export Sawai generics overseas, targeting China and the ASEAN region, which are geographically close and experiencing economic growth. The growth rate of the generic market is high, and the brand value of Japanese generics is also expected to benefit. We will work on these matters with a view to further growth in the long term from FY 2030 onwards. I would now like to explain our key theme for strengthening the business foundation: producing talented personnel to support sustainable growth.
In order for our group to continue to grow over the medium to long term, it is essential for us to be the first to launch and stably supply high-quality, high value-added generic drugs. It is particularly important to strengthen our production, quality, and research divisions. We will steadily promote investment in human capital based on securing and developing diverse human resources, which are indispensable for our growth strategy. The second is sustainability initiatives. Among the environmental targets set in the previous medium-term management plan, we have revised some of them related to CO2 emissions and will achieve 46% reduction of CO2 emissions compared to fiscal 2013 by FY 2030, and net zero emissions by 2050, in line with the government's target level. In addition to human resources and environmental aspects, we will further deepen our corporate governance as a leading generic drug manufacturer.
Trust and credibility are paramount for a pharmaceutical company, and a single mistake can be fatal. For the generics industry to continue to grow, governance and compliance are of the utmost importance, including for our company. We have designated December 22nd, the day of the administrative action, as Compliance Day, and all of our executives and employees will work to deepen the group's governance without forgetting the administrative action. The last theme is initiatives to improve capital efficiency. As already announced on January 17th, we will shift from a PL-centered approach to management that is conscious of the cost of capital, including balance sheet and cash flow, and work to improve management so that we can meet shareholders' expectations.
Nevertheless, cost of capital conscious management depends not only on the management level, but also on each and every employee being aware of the issue as his or her own, and being able to actively engage in activities. By utilizing the inverse tree of ROIC, we will incorporate it into each department's KPI and key measures at the field level, and the entire company will work together to achieve our capital efficiency improvement targets. This is the cash allocation for the three-year period. The company will use approximately JPY 190 billion, consisting of JPY 145 billion in operating cash flow generated by the generics business and JPY 45 billion in funds from the sale of businesses and assets. Priority will be given to R&D investments, which are the source of growth, and to capital expenditures such as production capacity expansion and enhancement of reliability assurance.
In terms of shareholder returns, we will repurchase shares and pay dividends in the amount of JPY 52 billion through the sale of shares in our U.S. business and strategic shareholdings. We will continue to invest in growth and strengthen shareholder returns to achieve sustainable growth. We regard the return of profits to shareholders as one of the most important management issues. In order to place greater emphasis on the cost of capital and to ensure stable and continuous dividend payments, we have changed our basic index from dividend payout ratio to DOE, which will be set at 3% or above. The total amount of dividends is set to be JPY 19 billion or more for the three-year plan period, and we will implement a share buyback program totaling JPY 33 billion or more.
We will continue to improve capital efficiency and enhance shareholder returns in order to meet the expectations of our shareholders. Finally, here are the targets for the period of this medium-term business plan. In the final year of the plan, we aim to achieve revenue of JPY 219 billion in the generic business and JPY 1 billion in the new business for a total consolidated revenue of JPY 220 billion, an increase of JPY 43.1 billion over FY 2023. Core operating profit will be JPY 33 billion, an increase of JPY 9.1 billion over FY 2023, and ROE and ROIC will be 10% or above and 8% or above respectively. That concludes my explanation, but I would like to share a few words about my thoughts.
As the study group of the Ministry of Health, Labour and Welfare has recently indicated, the environment surrounding our company will change drastically in the future. We see these changes not only as a business chance for our generic business, but also as a great opportunity to contribute to solving the problems of patients, medical professionals, wholesalers, and others who are suffering from drug shortages. To ensure that we seize this opportunity, we intend to fully concentrate our management resources on ensuring quality and expanding production capacity. In addition, based on our basic policy of reviewing our business portfolio and capital policy, we will promote management with an emphasis on the relevant indicators I mentioned earlier. Our business itself is a contribution to society, and in response to the social issue of rising healthcare costs, we have contributed to saving nearly JPY 300 billion in healthcare costs every year.
We will continue to strive to contribute to the health of as many people as possible as a healthcare company group that grows and develops sustainably together with society, with a pharmaceutical business at its core, aiming for a sustainable social security system and improved access to medical care. That concludes my presentation. Thank you very much for your attention.