Worth reading
60In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-400
¥100 million (change in the 2030 operating profit target)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedOperating profit target2030 ¥100 billion or more / 2040 ¥150–200 billion → 2030 ¥60 billion / 2040 ¥100 billion or more
What happened to the previous planNot disclosed → ¥35.3 billion (actual)
Key initiatives
01Respond to the energy transition and expand business areas
02Deepen the EPC business model and diversify into non-EPC business models
03Strengthen the regional management structure and the environment for creating innovation
04Contribute to the reduction and decarbonization of the oil and gas sector through carbon management
05Contribute through technology to the scale-up of facilities to expand the market for blue hydrogen and fuel ammonia
06Enter the offshore wind power generation business in Japan, building on construction management expertise
07Respond to the adoption of green hydrogen and fuel ammonia produced from renewable energy
08Make early investments in the potential of SMR
09Expand the domestic and international pharmaceutical plant EPC business, including regenerative medicine
10Expand the business through the early adoption of digital technologies at hospitals and health screening centers, and develop a digital healthcare business
11Strengthen the system for and accelerate new product development
12Improve manufacturing technology and production capacity
13Expand sales of existing products and increase market share
14Create a recycling value chain through partnerships
15Become a major player in the industrial and urban infrastructure market and enter the development of complex infrastructure
16Advance IT Grand Plan 2030 and strengthen EPC execution capabilities through the use of digital technologies
17Strengthen the regional management structure
18Strengthen the environment for creating innovation
Plan assumptionsAssumptions Global primary energy demand / Figures 17.1 billion toe in 2040 / Source IEA World Energy Outlook 2020, Assumptions Renewable energy generation / Figures 3.3 billion toe in 2040 / Source IEA World Energy Outlook 2020, Assumptions Global waste generation / Figures 3.4 billion tonnes per year by 2050 / Source World Bank, A Global Snapshot of Solid Waste Management to 2050, Assumptions Population living in cities in Asia and Africa / Figures 66% / Source United Nations, World Urbanization Prospects, Assumptions Japan's population aged 65 and over / Figures 35% / Source National Institute of Population and Social Security Research, Population Projections for Japan
Segment targetSegment Energy transition / Revenue composition ratio 60% / Timing 2040, Segment High-Performance Materials / Revenue composition ratio 10% / Timing 2040, Segment Healthcare and life sciences / Revenue composition ratio 10% / Timing 2040, Segment Resource Circulation / Revenue composition ratio 10% / Timing 2040, Segment Industrial and urban infrastructure / Revenue composition ratio 10% / Timing 2040
Non-financial targetsIndicator The Company's CO2 emissions / Target value Net zero / Timing By 2050, Indicator EPC execution man-hours / Target value One-third of current man-hours / Timing By 2030, Indicator EPC execution speed / Target value 2x / Timing By 2030
Size of the Target MarketSubject Global primary energy demand / Figures 17.1 billion toe in 2040 / Source IEA World Energy Outlook 2020, Subject Renewable energy generation / Figures 3.3 billion toe in 2040 / Source IEA World Energy Outlook 2020, Subject Global waste generation / Figures 3.4 billion tonnes per year by 2050 / Source World Bank, A Global Snapshot of Solid Waste Management to 2050, Subject Population living in cities in Asia and Africa / Figures 66% / Source United Nations, World Urbanization Prospects, Subject Japan's population aged 65 and over / Figures 35% / Source National Institute of Population and Social Security Research, Population Projections for Japan
Risks identified by the company
Changes in the business environment
Changes in markets and the business environment
Changes in forecasts and data due to various factors
Reason for revision or withdrawal
As the company enters phase 2 after completing phase 1, the “Five Years of Challenge,” it determined that part of the 2040 Vision needed to be redefined. The operating profit target was changed in consideration of the business environment and the pace of market growth, among other factors.
| Item | Details |
|---|---|
| Plan name | 2040 Vision (2026 Revised Edition) |
| Plan period | 2021–2040 |
| Progress against the plan | Partially revised |
| Operating profit target | 2030 ¥100 billion or more / 2040 ¥150–200 billion → 2030 ¥60 billion / 2040 ¥100 billion or more |
| Segment target | Segment Energy transition / Revenue composition ratio 60% / Timing 2040, Segment High-Performance Materials / Revenue composition ratio 10% / Timing 2040, Segment Healthcare and life sciences / Revenue composition ratio 10% / Timing 2040, Segment Resource Circulation / Revenue composition ratio 10% / Timing 2040, Segment Industrial and urban infrastructure / Revenue composition ratio 10% / Timing 2040 |
| Non-financial targets | Indicator The Company's CO2 emissions / Target value Net zero / Timing By 2050, Indicator EPC execution man-hours / Target value One-third of current man-hours / Timing By 2030, Indicator EPC execution speed / Target value 2x / Timing By 2030 |
| Plan assumptions | Assumptions Global primary energy demand / Figures 17.1 billion toe in 2040 / Source IEA World Energy Outlook 2020, Assumptions Renewable energy generation / Figures 3.3 billion toe in 2040 / Source IEA World Energy Outlook 2020, Assumptions Global waste generation / Figures 3.4 billion tonnes per year by 2050 / Source World Bank, A Global Snapshot of Solid Waste Management to 2050, Assumptions Population living in cities in Asia and Africa / Figures 66% / Source United Nations, World Urbanization Prospects, Assumptions Japan's population aged 65 and over / Figures 35% / Source National Institute of Population and Social Security Research, Population Projections for Japan |
| Key initiatives | Respond to the energy transition and expand business areas, Deepen the EPC business model and diversify into non-EPC business models, Strengthen the regional management structure and the environment for creating innovation, Contribute to the reduction and decarbonization of the oil and gas sector through carbon management, Contribute through technology to the scale-up of facilities to expand the market for blue hydrogen and fuel ammonia, Enter the offshore wind power generation business in Japan, building on construction management expertise, Respond to the adoption of green hydrogen and fuel ammonia produced from renewable energy, Make early investments in the potential of SMR, Expand the domestic and international pharmaceutical plant EPC business, including regenerative medicine, Expand the business through the early adoption of digital technologies at hospitals and health screening centers, and develop a digital healthcare business, Strengthen the system for and accelerate new product development, Improve manufacturing technology and production capacity, Expand sales of existing products and increase market share, Create a recycling value chain through partnerships, Become a major player in the industrial and urban infrastructure market and enter the development of complex infrastructure, Advance IT Grand Plan 2030 and strengthen EPC execution capabilities through the use of digital technologies, Strengthen the regional management structure, Strengthen the environment for creating innovation |
| Results under the previous plan | Not disclosed → ¥35.3 billion (actual) |
| Reason for revision or withdrawal | As the company enters phase 2 after completing phase 1, the “Five Years of Challenge,” it determined that part of the 2040 Vision needed to be redefined. The operating profit target was changed in consideration of the business environment and the pace of market growth, among other factors. |
| Size of the Target Market | Subject Global primary energy demand / Figures 17.1 billion toe in 2040 / Source IEA World Energy Outlook 2020, Subject Renewable energy generation / Figures 3.3 billion toe in 2040 / Source IEA World Energy Outlook 2020, Subject Global waste generation / Figures 3.4 billion tonnes per year by 2050 / Source World Bank, A Global Snapshot of Solid Waste Management to 2050, Subject Population living in cities in Asia and Africa / Figures 66% / Source United Nations, World Urbanization Prospects, Subject Japan's population aged 65 and over / Figures 35% / Source National Institute of Population and Social Security Research, Population Projections for Japan |
| Risks identified | Changes in the business environment, Changes in markets and the business environment, Changes in forecasts and data due to various factors |
| Publication date | 14 May 2026 |
Items this document does not state (12)
Sales TargetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorDate 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.As the company enters phase 2, it determined that part of the 2040 Vision needed to be redefined. The operating profit targets for 2030 and 2040 were changed in consideration of the business environment and the pace of market growth, among other factors.
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.