Worth reading
58In 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
150
¥100 million (net sales target for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet SalesNot disclosed → ～150
Operating profitNot disclosed → ～15
Operating profit marginNot disclosed → ～10
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planRevenue: 4,100; adjusted net income: 334 → Revenue: 4,129; adjusted net income: 310（Revenue: +0.7%; adjusted net income: -7.2%）+0.7%Calculated from the two disclosed figures
Key initiatives
01Expanding the number of brands through M&A
02Growing brands through synergies among brands
03From niche leader to niche global player
04Thoroughly improving capital efficiency
Plan assumptionsThe organic revenue growth target for existing businesses as of the beginning of each fiscal year is conservatively set at approximately 10%., 10% growth in existing businesses at the beginning of the fiscal year ending March 2028, 8% growth in existing businesses at the beginning of the fiscal year ending March 2029, M&A is expected to be conducted using a combination of borrowings and cash and cash equivalents.
Segment targetSegment Existing major brands / Sales Target ¥5.2 billion (fiscal year ending March 2027), ¥5.5 billion (fiscal year ending March 2028), ¥6.0 billion (fiscal year ending March 2029) / Profit Target Not disclosed, Segment Existing brand support business / Sales Target ¥1.4 billion (fiscal years ending March 2027, March 2028 and March 2029) / Profit Target Not disclosed
Non-financial targetsIndicator Number of additional M&A transactions / Target value +2～ / Timing Fiscal year ending March 2027, Indicator Number of additional M&A transactions / Target value +3～ / Timing Fiscal year ending March 2028, Indicator Number of additional M&A transactions / Target value +5～ / Timing Fiscal year ending March 2029
Size of the Target MarketMarket Drugstore market / Dimensions ¥10 trillion / Source Japan Chain Drugstore Association (JACDS), “FY2024 Japan Drugstore Industry Survey”, Market Exports to the Middle East / Growth rate Up 10.6% year on year / Source Trade Statistics, Ministry of Finance
Risks identified by the company
Risks related to the company’s competitive advantage as a brand producer
Risk of impairment of brand value resulting from rapid changes in the market environment
Risks related to legal and regulatory requirements
Risks related to acquisitions, capital and business alliances and other transactions
| Item | Details |
|---|---|
| Plan name | VISION2029 |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Annual update |
| Sales Target | Not disclosed → ～150 |
| Operating profit target | Not disclosed → ～15 |
| Operating profit margin target | Not disclosed → ～10 |
| Segment target | Segment Existing major brands / Sales Target ¥5.2 billion (fiscal year ending March 2027), ¥5.5 billion (fiscal year ending March 2028), ¥6.0 billion (fiscal year ending March 2029) / Profit Target Not disclosed, Segment Existing brand support business / Sales Target ¥1.4 billion (fiscal years ending March 2027, March 2028 and March 2029) / Profit Target Not disclosed |
| Non-financial targets | Indicator Number of additional M&A transactions / Target value +2～ / Timing Fiscal year ending March 2027, Indicator Number of additional M&A transactions / Target value +3～ / Timing Fiscal year ending March 2028, Indicator Number of additional M&A transactions / Target value +5～ / Timing Fiscal year ending March 2029 |
| Plan assumptions | The organic revenue growth target for existing businesses as of the beginning of each fiscal year is conservatively set at approximately 10%., 10% growth in existing businesses at the beginning of the fiscal year ending March 2028, 8% growth in existing businesses at the beginning of the fiscal year ending March 2029, M&A is expected to be conducted using a combination of borrowings and cash and cash equivalents. |
| Key initiatives | Expanding the number of brands through M&A, Growing brands through synergies among brands, From niche leader to niche global player, Thoroughly improving capital efficiency |
| Results under the previous plan | Revenue: 4,100; adjusted net income: 334 → Revenue: 4,129; adjusted net income: 310（Revenue: +0.7%; adjusted net income: -7.2%） |
| Size of the Target Market | Market Drugstore market / Dimensions ¥10 trillion / Source Japan Chain Drugstore Association (JACDS), “FY2024 Japan Drugstore Industry Survey”, Market Exports to the Middle East / Growth rate Up 10.6% year on year / Source Trade Statistics, Ministry of Finance |
| Risks identified | Risks related to the company’s competitive advantage as a brand producer, Risk of impairment of brand value resulting from rapid changes in the market environment, Risks related to legal and regulatory requirements, Risks related to acquisitions, capital and business alliances and other transactions |
| Publication date | 14 May 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 planInvestment amount by sectorReason 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.The company expects to return to profitability as a result of business restructuring and aims to resume growth through the expansion of existing businesses, the development of new brands, 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.