Worth reading
60In 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
15
¥100 million (operating income target for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet SalesNot disclosed → Up to ¥15 billion
Operating profitNot disclosed → ¥1.5 billion
Operating profit marginNot disclosed → ～10％
Only the target level is shown because the current level for comparison was not provided.Investment amount by sectorField Strategic investment 1: Treasury-related listed shares (KLab Inc.) / Amount Acquisition limit: ¥250 million, Field Strategic investment 2: Major Web3.0 projects and others / Amount Under consideration, Field Strategic M&A 1: Acquisition of niche brands / Amount Not disclosed, Field Strategic M&A 2: Acquisition of contract planning and manufacturing companies / Amount Not disclosed, Field Overseas expansion of existing brands / Amount Costs for overseas expansion, local marketing expenses and other costs. Amount: Not disclosed
Key initiatives
01Strategy 1: Expand the number of brands through M&A
02Strategy 2: Grow brands through synergies among brands
03Strategy 3: From niche-leading to niche-global
04Strategy 4: Thoroughly improve capital efficiency
051. Acquire brands capable of becoming niche leaders
062. Acquire manufacturers and contract manufacturers with the capabilities to create niche brands
07Accelerate global expansion across the group
08Standardize Fujiko's distribution channels in Greater China
09Enter the Middle Eastern market through partnerships
10Strengthen the balance sheet through growth-oriented treasury investments
11Rationalize unprofitable brands and slow-moving inventory
Plan assumptionsExisting business growth of 10% is expected at the beginning of the fiscal year ending March 2028, Existing business growth of 8% is expected at the beginning of the fiscal year ending March 2029, Sales of 株式会社かならぼ will be consolidated for the full fiscal year ending March 2027
Segment targetTarget fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Own Brands / Target 77.2％, Target fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Contract planning and manufacturing / Target 12.1％, Target fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Marketing Support / Target 10.7％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Own Brands / Target 81.5％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Contract planning and manufacturing / Target 14.6％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Marketing Support / Target 3.9％
Non-financial targetsIndicator Number of brands added / Target +2～ / Timing Fiscal year ending March 2027, Indicator Number of brands added / Target +3～ / Timing Fiscal year ending March 2028, Indicator Number of brands added / Target +5～ / Timing Fiscal year ending March 2029, Indicator Number of brand M&A transactions / Target 10 / Timing Through the fiscal year ending March 2029
Size of the Target MarketMarket Drugstore market / Figures Reached ¥10 trillion / Source Japan Chain Drugstore Association (JACDS), “FY2024 Japan Drugstore Industry Survey”, Market Exports to the Middle East / Figures Up 10.6% year on year / Source Trade Statistics, Ministry of Finance
Risks identified by the company
Changes in economic conditions
Changes in customer needs and preferences
Competition from other companies
Changes in laws and regulations
Middle East situation
Market conditions, business progress and the status of discussions
| Item | Details |
|---|---|
| Plan name | VISION2029: Medium-Term Management Plan |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → Up to ¥15 billion |
| Operating profit target | Not disclosed → ¥1.5 billion |
| Operating profit margin target | Not disclosed → ～10％ |
| Investment amount by sector | Field Strategic investment 1: Treasury-related listed shares (KLab Inc.) / Amount Acquisition limit: ¥250 million, Field Strategic investment 2: Major Web3.0 projects and others / Amount Under consideration, Field Strategic M&A 1: Acquisition of niche brands / Amount Not disclosed, Field Strategic M&A 2: Acquisition of contract planning and manufacturing companies / Amount Not disclosed, Field Overseas expansion of existing brands / Amount Costs for overseas expansion, local marketing expenses and other costs. Amount: Not disclosed |
| Segment target | Target fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Own Brands / Target 77.2％, Target fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Contract planning and manufacturing / Target 12.1％, Target fiscal year Fiscal year ending March 2027 / Indicator Revenue mix / Segment Marketing Support / Target 10.7％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Own Brands / Target 81.5％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Contract planning and manufacturing / Target 14.6％, Target fiscal year Fiscal year ending March 2027 / Indicator Business profit composition ratio / Segment Marketing Support / Target 3.9％ |
| Non-financial targets | Indicator Number of brands added / Target +2～ / Timing Fiscal year ending March 2027, Indicator Number of brands added / Target +3～ / Timing Fiscal year ending March 2028, Indicator Number of brands added / Target +5～ / Timing Fiscal year ending March 2029, Indicator Number of brand M&A transactions / Target 10 / Timing Through the fiscal year ending March 2029 |
| Plan assumptions | Existing business growth of 10% is expected at the beginning of the fiscal year ending March 2028, Existing business growth of 8% is expected at the beginning of the fiscal year ending March 2029, Sales of 株式会社かならぼ will be consolidated for the full fiscal year ending March 2027 |
| Key initiatives | Strategy 1: Expand the number of brands through M&A, Strategy 2: Grow brands through synergies among brands, Strategy 3: From niche-leading to niche-global, Strategy 4: Thoroughly improve capital efficiency, 1. Acquire brands capable of becoming niche leaders, 2. Acquire manufacturers and contract manufacturers with the capabilities to create niche brands, Accelerate global expansion across the group, Standardize Fujiko's distribution channels in Greater China, Enter the Middle Eastern market through partnerships, Strengthen the balance sheet through growth-oriented treasury investments, Rationalize unprofitable brands and slow-moving inventory |
| Size of the Target Market | Market Drugstore market / Figures Reached ¥10 trillion / Source Japan Chain Drugstore Association (JACDS), “FY2024 Japan Drugstore Industry Survey”, Market Exports to the Middle East / Figures Up 10.6% year on year / Source Trade Statistics, Ministry of Finance |
| Risks identified | Changes in economic conditions, Changes in customer needs and preferences, Competition from other companies, Changes in laws and regulations, Middle East situation, Market conditions, business progress and the status of discussions |
| Publication date | 31 March 2026 |
Items this document does not state (11)
Net income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planResults under the previous planReason for revision or withdrawalDate 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.To expand its portfolio of niche-leading brands through in-house development, M&A and partnerships, and achieve renewed growth based on a standardized brand management platform and accumulated expertise. The company also intends to complete the rationalization of its businesses in the fiscal year ending March 2027, transition to a renewed growth phase, and accelerate brand M&A and overseas expansion.
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.