Worth reading
82Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
112
¥100 million (consolidated net sales, compared with fiscal 2025 results)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,025Target2,028Hundreds of millions of yen
Operating profit+0.1%
基準 2,025Target2,028Hundreds of millions of yen
Net income for the current fiscal year+0.1%
基準 2,025Target2,028Hundreds of millions of yen
ROE+3.0pt
基準 2,025Target2,028％
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 planNet sales of ¥73.0 billion, operating income of ¥6.2 billion, net income of ¥4.5 billion, investments of ¥22.0 billion, ROE of 9.0%, payout ratio of 50%, total payout ratio of 70%, PBR of at least 1.00x → Net sales of ¥68.8 billion, operating income of ¥5.3 billion, net income of ¥3.3 billion, cumulative investments of ¥16.0 billion, ROE of 6.5%, payout ratio of 55.4%, total payout ratio of 85.5%, PBR of 0.90x (fiscal year ended March 2026)+2,675.3%Calculated from the two disclosed figures
Total investment plan¥20.0 billion (plan period)
Investment amount by sectorField Maintenance investment (upgrades to equipment and machinery) / Amount ¥6 billion, Field Growth investment (research and development and human capital) / Amount ¥4 billion, Field Strategic investment (M&A, equity investments and other investments) / Amount ¥10 billion
Statements about the use of capital
Payout ratio / DOE policyMaintain a total payout ratio of approximately 70.0%. Introduce a DOE of 4.0% and set a DOE target of 4.0% for fiscal 2029.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 policyMaintain a total payout ratio of approximately 70% and actively return profits to shareholders, including through share repurchases. The specific amount, timing and conditions of the repurchases have not been disclosed.
Cost of capitalToward a cost of equity of approximately 7%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR was 0.90x in the fiscal year ended March 2026. The company aims to achieve a PBR above 1.0x or maintain a PBR of at least 1.0x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Sustainably create a base level of business volume
02Change how we generate earnings
03Expand into new fields
04Create and expand high-value-added projects
05Precast Construction
06DX and automation in construction
07Expand responses to defense-related demand
08Overseas Operations
09M&A
10Address maintenance demand from local governments
11Complete remanufacturing and re-erection work
12Determine the direction of the business
13Execute the restructuring plan
14Increase utilization and maximize intra-group synergies through a two-fleet operating structure
15Participate in bridge maintenance and public-private partnership businesses
16External sales of factory-manufactured products
17Promote the aquaponics business
18Advance implementation of a hybrid methane fermentation system
19Financial and capital strategy
20Technology development (fostering a safety culture and advancing DX)
21Human resources strategy (developing the people responsible for technology and human resources)
22Advance environmental initiatives
23Strengthen corporate governance and ensure supply chain sustainability
24Obtain SBTi certification: October 2025
25Information disclosure with the SSBJ standards in mind
26Begin initiatives under the TNFD
Segment targetSegment Core business / Latest results ¥47.0 billion (fiscal year ended March 2026) / Sales Target ¥54.0 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 22.0％, Segment Consolidated business / Latest results ¥11.8 billion (fiscal year ended March 2026) / Sales Target ¥10.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 8.0％, Segment New and Peripheral Businesses / Latest results ¥10.0 billion (fiscal year ended March 2026) / Sales Target ¥15.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 18.5％
Non-financial targetsIndicator Hiring (new graduates and experienced hires) / Target value 130 people / 3 years / Timing Plan period, Indicator Engagement score / Target value At least 75 points / Timing Not disclosed, Indicator Employee turnover rate / Target value 15% (lower limit) / Timing Not disclosed, Indicator Human capital investment / Target value ¥700 million / 3 years / Timing Plan period, Indicator Reducing Scope 1 and 2 CO2 Emissions / Target value 42% reduction (from fiscal 2023 baseline) / Timing FY2030, Indicator Reduction in Scope 3 CO2 emissions / Target value 25% reduction (from fiscal 2023 baseline) / Timing FY2030
Risks identified by the company
Heightened tensions and instability in international affairs
Increasing risk of natural disasters
Demographic changes
Rapid advances in digitalization and technology
Transition to a decarbonized society
Increasing supply constraints
Deterioration of infrastructure due to aging
Declining working-age population
Aging engineers and transfer of technical expertise
Declining productivity
Surging materials prices
Increasingly stringent safety and quality requirements
Increasingly stringent capital market requirements
Higher interest rates
Supply chain disruption
Gradual decline in the volume of steel bridge orders
Temporary slowdown in orders for large-scale renewal projects
Intensifying price competition under the new pricing system
Delays in large-scale projects
Risks associated with overseas business expansion
Additions and removals from the risk items since the previous plan: not disclosed
Reason for revision or withdrawal
Although the core business secured its highest-ever order backlog, it fell short of its targets due to the delayed start of large caisson projects, progress and scheduling delays resulting from accidents involving repair and strengthening work, the occurrence of remanufacturing and re-erection work in the consolidated business, and delays in large-scale projects. Based on these circumstances, the company positions this period as one for completing its transformation and taking on challenges beyond its existing domains, with the aim of achieving sustainable growth.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | Fiscal years 2026-2028 |
| Progress against the plan | Formulated |
| Sales Target | ¥68.8 billion (fiscal 2025 results) → ¥80.0 billion (fiscal 2028 target)（+16.3％） |
| Operating profit target | ¥5.3 billion (fiscal 2025 results) → ¥6.8 billion (fiscal 2028 target)（+28.3％） |
| Net income target | ¥3.3 billion (fiscal 2025 results) → ¥4.4 billion (fiscal 2028 target)（+33.3％） |
| ROE target | 6.5% (fiscal 2025 results) → At least 8.0% (fiscal 2028 target)（At least 23.1%） |
| Payout ratio / DOE policy | Maintain a total payout ratio of approximately 70.0%. Introduce a DOE of 4.0% and set a DOE target of 4.0% for fiscal 2029. |
| Treasury share acquisition policy | Maintain a total payout ratio of approximately 70% and actively return profits to shareholders, including through share repurchases. The specific amount, timing and conditions of the repurchases have not been disclosed. |
| Cost of capital | Toward a cost of equity of approximately 7% |
| Self-assessment of PBR and share price | PBR was 0.90x in the fiscal year ended March 2026. The company aims to achieve a PBR above 1.0x or maintain a PBR of at least 1.0x. |
| Total investment plan | ¥20.0 billion (plan period) |
| Investment amount by sector | Field Maintenance investment (upgrades to equipment and machinery) / Amount ¥6 billion, Field Growth investment (research and development and human capital) / Amount ¥4 billion, Field Strategic investment (M&A, equity investments and other investments) / Amount ¥10 billion |
| Segment target | Segment Core business / Latest results ¥47.0 billion (fiscal year ended March 2026) / Sales Target ¥54.0 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 22.0％, Segment Consolidated business / Latest results ¥11.8 billion (fiscal year ended March 2026) / Sales Target ¥10.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 8.0％, Segment New and Peripheral Businesses / Latest results ¥10.0 billion (fiscal year ended March 2026) / Sales Target ¥15.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed / Gross profit margin target 18.5％ |
| Non-financial targets | Indicator Hiring (new graduates and experienced hires) / Target value 130 people / 3 years / Timing Plan period, Indicator Engagement score / Target value At least 75 points / Timing Not disclosed, Indicator Employee turnover rate / Target value 15% (lower limit) / Timing Not disclosed, Indicator Human capital investment / Target value ¥700 million / 3 years / Timing Plan period, Indicator Reducing Scope 1 and 2 CO2 Emissions / Target value 42% reduction (from fiscal 2023 baseline) / Timing FY2030, Indicator Reduction in Scope 3 CO2 emissions / Target value 25% reduction (from fiscal 2023 baseline) / Timing FY2030 |
| Key initiatives | Sustainably create a base level of business volume, Change how we generate earnings, Expand into new fields, Create and expand high-value-added projects, Precast Construction, DX and automation in construction, Expand responses to defense-related demand, Overseas Operations, M&A, Address maintenance demand from local governments, Complete remanufacturing and re-erection work, Determine the direction of the business, Execute the restructuring plan, Increase utilization and maximize intra-group synergies through a two-fleet operating structure, Participate in bridge maintenance and public-private partnership businesses, External sales of factory-manufactured products, Promote the aquaponics business, Advance implementation of a hybrid methane fermentation system, Financial and capital strategy, Technology development (fostering a safety culture and advancing DX), Human resources strategy (developing the people responsible for technology and human resources), Advance environmental initiatives, Strengthen corporate governance and ensure supply chain sustainability, Obtain SBTi certification: October 2025, Information disclosure with the SSBJ standards in mind, Begin initiatives under the TNFD |
| Results under the previous plan | Net sales of ¥73.0 billion, operating income of ¥6.2 billion, net income of ¥4.5 billion, investments of ¥22.0 billion, ROE of 9.0%, payout ratio of 50%, total payout ratio of 70%, PBR of at least 1.00x → Net sales of ¥68.8 billion, operating income of ¥5.3 billion, net income of ¥3.3 billion, cumulative investments of ¥16.0 billion, ROE of 6.5%, payout ratio of 55.4%, total payout ratio of 85.5%, PBR of 0.90x (fiscal year ended March 2026) |
| Reason for revision or withdrawal | Although the core business secured its highest-ever order backlog, it fell short of its targets due to the delayed start of large caisson projects, progress and scheduling delays resulting from accidents involving repair and strengthening work, the occurrence of remanufacturing and re-erection work in the consolidated business, and delays in large-scale projects. Based on these circumstances, the company positions this period as one for completing its transformation and taking on challenges beyond its existing domains, with the aim of achieving sustainable growth. |
| Risks identified | Heightened tensions and instability in international affairs, Increasing risk of natural disasters, Demographic changes, Rapid advances in digitalization and technology, Transition to a decarbonized society, Increasing supply constraints, Deterioration of infrastructure due to aging, Declining working-age population, Aging engineers and transfer of technical expertise, Declining productivity, Surging materials prices, Increasingly stringent safety and quality requirements, Increasingly stringent capital market requirements, Higher interest rates, Supply chain disruption, Gradual decline in the volume of steel bridge orders, Temporary slowdown in orders for large-scale renewal projects, Intensifying price competition under the new pricing system, Delays in large-scale projects, Risks associated with overseas business expansion, Additions and removals from the risk items since the previous plan: not disclosed |
| Publication date | 14 May 2026 |
Items this document does not state (5)
Operating profit margin targetROIC targetPlan assumptionsSize of the Target MarketDate 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.Under the previous medium-term management plan, the company secured its highest-ever order backlog, but profitability remained an issue due to the impact of accidents involving repair and strengthening work, delays in large-scale projects in the consolidated business, and the occurrence of bridge remanufacturing and re-erection work. Based on these circumstances, the company formulated this plan as an approach toward realizing the Oriental Shiraishi Group's Vision for 2030.
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