Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
50
Locations (target by May 2028)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateROE-2,018.0pt
基準 2,026Target8％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).
What happened to the previous planNot disclosed → The target was achieved in the fiscal year ended May 2026
Statements about the use of capital
Self-assessment of PBR and share priceThe company targets a PBR of 1.0x or higher, and its actual PBR for the fiscal year ended May 2026 was 2.3x. It states that it will pursue management that is mindful of capital efficiency and its share price.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthening the Sales Platform
02Further enhancing technical capabilities
03Organizational capabilities
04Establishing a comprehensive nationwide order-taking structure
05Expanding into the social infrastructure field through Skeleton disaster-prevention coating
06Sensing technology — advancing toward commercialization
07Humanoids — advancing toward commercialization
08Establishing a construction technology and human resources platform
Plan assumptionsThe residential renovation market is a stable market worth approximately ¥8.0 trillion, The vacancy rate is expected to rise to approximately 25% by 2043, The First National Resilience Implementation Medium-Term Plan for fiscal 2026–2030 is expected to involve approximately ¥20 trillion in projects over 5 years, The number of new housing starts is expected to gradually decline
Non-financial targetsIndicator name Number of locations / Target value 50 locations / Timing By May 2028, Indicator name Nationwide coverage / Target value Coverage of all 47 prefectures nationwide / Timing By May 2028
Size of the Target MarketMarket Residential Renovation Market / Scale Approximately ¥8.0 trillion / Source Nomura Research Institute,Ltd., “Residential Renovation Market Size (Estimates and Forecasts for 2026–2040)”, Market National Resilience / Scale Approximately ¥20 trillion in projects over the 5-year period from fiscal 2026 to fiscal 2030 / Source Not disclosed
Risks identified by the company
Securing personnel: If the company is unable to secure the personnel needed to formulate and execute its sales strategy, this may affect its performance, branch-opening plans, and other future business development.
Decline in the number of skilled workers: This may reduce order intake as construction capacity contracts.
Reason for revision or withdrawal
The company decided to pursue management that is mindful of capital efficiency and its share price while using financial leverage to expand its business by carrying interest-bearing debt, or taking on borrowings. Accordingly, it partially revised its management metrics.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Progress against the plan | Annual update |
| ROE target | 15.0% (actual for the fiscal year ended May 2026) → At least 8% |
| Self-assessment of PBR and share price | The company targets a PBR of 1.0x or higher, and its actual PBR for the fiscal year ended May 2026 was 2.3x. It states that it will pursue management that is mindful of capital efficiency and its share price. |
| Non-financial targets | Indicator name Number of locations / Target value 50 locations / Timing By May 2028, Indicator name Nationwide coverage / Target value Coverage of all 47 prefectures nationwide / Timing By May 2028 |
| Plan assumptions | The residential renovation market is a stable market worth approximately ¥8.0 trillion, The vacancy rate is expected to rise to approximately 25% by 2043, The First National Resilience Implementation Medium-Term Plan for fiscal 2026–2030 is expected to involve approximately ¥20 trillion in projects over 5 years, The number of new housing starts is expected to gradually decline |
| Key initiatives | Strengthening the Sales Platform, Further enhancing technical capabilities, Organizational capabilities, Establishing a comprehensive nationwide order-taking structure, Expanding into the social infrastructure field through Skeleton disaster-prevention coating, Sensing technology — advancing toward commercialization, Humanoids — advancing toward commercialization, Establishing a construction technology and human resources platform |
| Results under the previous plan | Not disclosed → The target was achieved in the fiscal year ended May 2026 |
| Reason for revision or withdrawal | The company decided to pursue management that is mindful of capital efficiency and its share price while using financial leverage to expand its business by carrying interest-bearing debt, or taking on borrowings. Accordingly, it partially revised its management metrics. |
| Size of the Target Market | Market Residential Renovation Market / Scale Approximately ¥8.0 trillion / Source Nomura Research Institute,Ltd., “Residential Renovation Market Size (Estimates and Forecasts for 2026–2040)”, Market National Resilience / Scale Approximately ¥20 trillion in projects over the 5-year period from fiscal 2026 to fiscal 2030 / Source Not disclosed |
| Risks identified | Securing personnel: If the company is unable to secure the personnel needed to formulate and execute its sales strategy, this may affect its performance, branch-opening plans, and other future business development., Decline in the number of skilled workers: This may reduce order intake as construction capacity contracts. |
| Publication date | August 2026 |
Items this document does not state (13)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company views the aging of buildings and infrastructure, demand for renovations, national resilience, and labor shortages as growth opportunities, and aims to expand its nationwide construction network and proprietary technologies. While expanding its business by utilizing interest-bearing debt, it has partially revised its management metrics to pursue management that is mindful of capital efficiency and its share price.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.