On July 5 Sanyo presented a three-year business restructuring plan, including a wide range of measures, in order to rebound from poor performances in recent years. The company will cut 14,400 jobs both in Japan and overseas, of which 8,000 will be in Japan and 6,000 will be overseas, and it will sell or close 20% of its area of domestic plants. Furthermore, the company strives for a 5% ratio of operating profit and sales. It aims to cut its interest-bearing debt in half, reducing it to 600 billion Yen within the three-year period. This will be done by consolidating related units, selling businesses and real estate, among other measures. Sanyo will focus on operations related to energy and the environment, including rechargeable batteries and solar cells, and it will no longer try to manufacture every part of its product lines within the conglomerate. To implement the aforementioned measures and to reduce inventory levels, Sanyo has set aside 90 billion Yen for the fiscal year 2005. In the fiscal year 2004, which ended in March, Sanyo suffered a net loss of 171.5 billion Yen.