Worth reading
65In focus
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
1870
¥100 million (total investment for fiscal 2021–2030)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedOperating profit+0.2%
基準 2,025Target2,030Hundreds of millions of yen
Operating profit margin+5.0pt
基準 2,025Target2,030%
ROE+5.0pt
基準 2,025Target2,030%
ROIC+5.0pt
基準 2,025Target2,030%
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).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planFiscal 2023: operating profit of ¥13 billion or more and operating margin of 4.0% or more; fiscal 2024: operating profit of ¥9 billion or more and operating margin of 2.6% or more; fiscal 2025: operating profit of ¥11 billion or more and operating margin of 3.0% or more → Fiscal 2023 actual: operating profit of ¥8.2 billion and operating margin of 2.9%; fiscal 2024 actual: operating profit of ¥8.8 billion and operating margin of 3.0%; fiscal 2025 actual: operating profit of ¥16.3 billion and operating margin of 4.8%0.0%Calculated from the two disclosed figures
Total investment plan¥187 billion (fiscal 2021–fiscal 2030)
Investment amount by sectorField Business strategy investments centered on three forms of value provided / Amount ¥113 billion, Field Investment in the sources of competitive advantage (people × DX) / Amount ¥74.0 billion
Statements about the use of capital
Payout ratio / DOE policyThe Company will pay dividends with a target DOE of 4.0% or more, balanced between the medium- to long-term performance targets of ROE of 10% or more and a payout ratio of 40% or more. No change. Applicable period: medium to long term.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe Company will consider making flexible share repurchases.
Key initiatives
01Safety and Quality
02Sales Capabilities
03Productivity and workforce
04Building Renovation
05Investment in Human Resources
06Participation in a major redevelopment project in the Shibuya area
07Investment in the sources of competitive advantage (people × DX)
08Investment in technology development
09Investment in renewable energy-related businesses contributing to decarbonization
Plan assumptionsDomestic construction investment is currently expected to remain firm, and favorable business conditions are expected to continue. However, the impact of the recent instability in the situation in the Middle East has not been incorporated, as it is currently difficult to calculate it reasonably.
Non-financial targetsIndicator name Employee Engagement / Target value A (fiscal 2026), AA (fiscal 2028), AAA (fiscal 2030) / Timing Fiscal 2026, fiscal 2028 and fiscal 2030, Indicator name GHG emissions, Scope 1 and 2 / Target value 30.6% reduction (fiscal 2026), 39.2% reduction (fiscal 2028), 47.9% reduction (fiscal 2030) / Timing Based on fiscal 2018, Indicator name GHG emissions, Scope 3 / Target value 20.0% reduction (fiscal 2026), 25.0% reduction (fiscal 2028), 30.0% reduction (fiscal 2030) / Timing Based on fiscal 2018
Risks identified by the company
Higher costs resulting from the introduction of emissions regulations, including carbon taxes
Higher costs associated with procuring energy and low-emission materials
Loss of order opportunities due to delays in developing and implementing technologies to reduce environmental impact
Damage restoration and costs to recover delays in construction schedules caused by major disasters
Insufficient action concerning natural capital and biodiversity
Stagnation of innovation in response to changes in the external environment, including population decline, aging infrastructure and the accelerating adoption of digital technologies
Insufficient supply capacity due to intensifying competition to secure the Company's technical personnel and a decline in skilled workers
Loss of social credibility and economic losses resulting from failures to pass on the expertise and skills needed to ensure the safety and quality of technical personnel
Rising material prices, unstable procurement and a decline in skilled workers
Loss of order opportunities due to delays in addressing ESG issues, including the supply chain, and insufficient information disclosure
Shortage of personnel capable of creating innovation in new business areas
Stagnation in fostering a culture that continuously creates innovation
Failure to appropriately manage investment risks
Reduced ODA in Southeast Asia, instability in the international situation, and surging material and labor costs
Stagnation of new real estate development projects due to surging land prices and construction costs
Stricter regulations on renewable energy business development
Delays in responding to smart cities, compact cities and other developments
Delays in responding to changing requirements for buildings resulting from increasingly diverse lifestyles and work styles
Delays in introducing systems and taking action to further promote and capitalize on diversity in gender, nationality and values
Delays in securing and developing personnel with the skills to adapt to advances in digital technology
Stagnation or decline in employee engagement due to insufficient action on human rights and DE&I and inadequate progress in promoting physical and mental health
Insufficient development of next-generation executives and core personnel
Declining social credibility due to compliance violations and other issues
Leakage of confidential information and disruption of internal systems due to cyberattacks and other incidents
Higher funding costs due to rising interest rates
As a major change from the previous plan, the creation of added value through the development of technologies to reduce environmental impact and infrastructure maintenance and management technologies was added to the opportunities arising from structural changes in the construction industry. Additions were also made to the strategic businesses, and some wording was reorganized.
Reason for revision or withdrawal
Based on the initiatives and results to date, domestic construction investment is expected to remain firm and favorable business conditions are expected to continue. Against a backdrop of accelerating demand for decarbonization in the construction sector and growing risks from aging infrastructure, the Company has reaffirmed the creation of added value through the development of technologies to reduce environmental impact and technologies for infrastructure maintenance and management as business opportunities.
| Item | Details |
|---|---|
| Plan name | Long-Term Management Plan “To zero, from zero.” |
| Plan period | Fiscal 2021–fiscal 2030 (10 years) |
| Progress against the plan | Partially revised |
| Operating profit target | Fiscal 2025 actual: ¥16.3 billion → Fiscal 2030: ¥22 billion or more |
| Operating profit margin target | Fiscal 2025 actual: 4.8% → Fiscal 2030: 5.0% or more |
| ROE target | Fiscal 2025 actual: 12.6% → Fiscal 2030: 10.0% or more |
| ROIC target | Fiscal 2025 actual: 9.2% → Fiscal 2030: 7.0% or more |
| Payout ratio / DOE policy | The Company will pay dividends with a target DOE of 4.0% or more, balanced between the medium- to long-term performance targets of ROE of 10% or more and a payout ratio of 40% or more. No change. Applicable period: medium to long term. |
| Treasury share acquisition policy | The Company will consider making flexible share repurchases. |
| Total investment plan | ¥187 billion (fiscal 2021–fiscal 2030) |
| Investment amount by sector | Field Business strategy investments centered on three forms of value provided / Amount ¥113 billion, Field Investment in the sources of competitive advantage (people × DX) / Amount ¥74.0 billion |
| Non-financial targets | Indicator name Employee Engagement / Target value A (fiscal 2026), AA (fiscal 2028), AAA (fiscal 2030) / Timing Fiscal 2026, fiscal 2028 and fiscal 2030, Indicator name GHG emissions, Scope 1 and 2 / Target value 30.6% reduction (fiscal 2026), 39.2% reduction (fiscal 2028), 47.9% reduction (fiscal 2030) / Timing Based on fiscal 2018, Indicator name GHG emissions, Scope 3 / Target value 20.0% reduction (fiscal 2026), 25.0% reduction (fiscal 2028), 30.0% reduction (fiscal 2030) / Timing Based on fiscal 2018 |
| Plan assumptions | Domestic construction investment is currently expected to remain firm, and favorable business conditions are expected to continue. However, the impact of the recent instability in the situation in the Middle East has not been incorporated, as it is currently difficult to calculate it reasonably. |
| Key initiatives | Safety and Quality, Sales Capabilities, Productivity and workforce, Building Renovation, Investment in Human Resources, Participation in a major redevelopment project in the Shibuya area, Investment in the sources of competitive advantage (people × DX), Investment in technology development, Investment in renewable energy-related businesses contributing to decarbonization |
| Results under the previous plan | Fiscal 2023: operating profit of ¥13 billion or more and operating margin of 4.0% or more; fiscal 2024: operating profit of ¥9 billion or more and operating margin of 2.6% or more; fiscal 2025: operating profit of ¥11 billion or more and operating margin of 3.0% or more → Fiscal 2023 actual: operating profit of ¥8.2 billion and operating margin of 2.9%; fiscal 2024 actual: operating profit of ¥8.8 billion and operating margin of 3.0%; fiscal 2025 actual: operating profit of ¥16.3 billion and operating margin of 4.8% |
| Reason for revision or withdrawal | Based on the initiatives and results to date, domestic construction investment is expected to remain firm and favorable business conditions are expected to continue. Against a backdrop of accelerating demand for decarbonization in the construction sector and growing risks from aging infrastructure, the Company has reaffirmed the creation of added value through the development of technologies to reduce environmental impact and technologies for infrastructure maintenance and management as business opportunities. |
| Risks identified | Higher costs resulting from the introduction of emissions regulations, including carbon taxes, Higher costs associated with procuring energy and low-emission materials, Loss of order opportunities due to delays in developing and implementing technologies to reduce environmental impact, Damage restoration and costs to recover delays in construction schedules caused by major disasters, Insufficient action concerning natural capital and biodiversity, Stagnation of innovation in response to changes in the external environment, including population decline, aging infrastructure and the accelerating adoption of digital technologies, Insufficient supply capacity due to intensifying competition to secure the Company's technical personnel and a decline in skilled workers, Loss of social credibility and economic losses resulting from failures to pass on the expertise and skills needed to ensure the safety and quality of technical personnel, Rising material prices, unstable procurement and a decline in skilled workers, Loss of order opportunities due to delays in addressing ESG issues, including the supply chain, and insufficient information disclosure, Shortage of personnel capable of creating innovation in new business areas, Stagnation in fostering a culture that continuously creates innovation, Failure to appropriately manage investment risks, Reduced ODA in Southeast Asia, instability in the international situation, and surging material and labor costs, Stagnation of new real estate development projects due to surging land prices and construction costs, Stricter regulations on renewable energy business development, Delays in responding to smart cities, compact cities and other developments, Delays in responding to changing requirements for buildings resulting from increasingly diverse lifestyles and work styles, Delays in introducing systems and taking action to further promote and capitalize on diversity in gender, nationality and values, Delays in securing and developing personnel with the skills to adapt to advances in digital technology, Stagnation or decline in employee engagement due to insufficient action on human rights and DE&I and inadequate progress in promoting physical and mental health, Insufficient development of next-generation executives and core personnel, Declining social credibility due to compliance violations and other issues, Leakage of confidential information and disruption of internal systems due to cyberattacks and other incidents, Higher funding costs due to rising interest rates, As a major change from the previous plan, the creation of added value through the development of technologies to reduce environmental impact and infrastructure maintenance and management technologies was added to the opportunities arising from structural changes in the construction industry. Additions were also made to the strategic businesses, and some wording was reorganized. |
| Date of board resolution | 8 May 2026 |
| Publication date | 8 May 2026 |
Items this document does not state (6)
Sales TargetNet income targetCost of capitalSelf-assessment of PBR and share priceSegment targetSize of the Target Market
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.Based on the initiatives and results of the “rebuilding our earnings power” effort, domestic construction investment is expected to remain firm and favorable business conditions are expected to continue. The Company aims to achieve higher profitability by participating in a major redevelopment project in the Shibuya area and focusing on priority strategic initiatives.
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