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
96
¥100 million (3-year growth investment)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+9.3%
基準 549Target600Hundreds of millions of yen
ROE-2.3pt
基準 10.3Target8%
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 530 / Ordinary income 39 / ROE At least 8.0% / Payout ratio 30% or more → Net Sales 549 / Ordinary income 57 / ROE 10.3％ / Payout ratio 30.3％（Net Sales 3.6% / Ordinary income 46.2% / ROE 28.8% / Payout ratio 1.0%）
Total investment plan¥9.6 billion (3-year growth investment)
Investment amount by sectorField Capital Expenditure / Amount ¥4.9 billion, Field Human Capital Investment / Amount ¥3.3 billion, Field DX investment / Amount ¥1.3 billion
Statements about the use of capital
Payout ratio / DOE policyThe target dividend payout ratio will be raised from the previous 30% to 45%, and DOE (dividend on equity) of 4.0% will be established as a new target. The applicable period is the mid-term management plan period (2026–2028).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 flexibly consider share repurchases in light of market conditions and its investment plans.
Key initiatives
01Portfolio strategy
02Growth strategy targets
03Construction of Yamato Techno Park
04Promoting Human Capital Management
05Promotion of DX
06Advancing ESG Management
07Strengthening and expansion of core businesses
08Promotion of construction products
09Reduction of cross-shareholdings
Segment targetSegment Air-conditioning and sanitary systems business / Sales Target ¥39.5 billion, Segment Air-conditioning and sanitary systems business (factories, logistics facilities and hotels) / Sales Target ¥18.5 billion, Segment Air-conditioning and sanitary systems business (renovation) / Sales Target ¥7 billion, Segment Water treatment plant business / Sales Target ¥6 billion, Segment Construction and civil engineering business / Sales Target ¥3.7 billion, Segment Electrical and telecommunications business / Sales Target ¥8.3 billion, Segment Refrigeration and cold-storage business / Sales Target ¥2.5 billion
Non-financial targetsIndicator Headcount / Target value 10% increase over 3 years / Timing End of fiscal 2028, Indicator Ratio of construction management personnel / Target value 42％ / Timing End of fiscal 2028, Indicator Reduction in on-site work / Target value 20～30％ / Timing Phase 1 (2026–2028), Indicator Reduction in on-site sorting work / Target value 30～40％ / Timing Phase 1 (2026–2028)
Risks identified by the company
Labor shortages in a declining-population society
Surging materials and energy prices
The normalization of extreme weather
A future contraction of the construction market
Aging social infrastructure
Disaster preparedness requirements
Demand for the realization of a decarbonized society
| Item | Details |
|---|---|
| Plan name | Mid-Term Management Plan (2026–2028) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Sales Target | 549 Hundreds of millions of yen → 600 Hundreds of millions of yen（9.3%） |
| ROE target | 10.3 % → At least 8.0% |
| Payout ratio / DOE policy | The target dividend payout ratio will be raised from the previous 30% to 45%, and DOE (dividend on equity) of 4.0% will be established as a new target. The applicable period is the mid-term management plan period (2026–2028). |
| Treasury share acquisition policy | The Company will flexibly consider share repurchases in light of market conditions and its investment plans. |
| Total investment plan | ¥9.6 billion (3-year growth investment) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥4.9 billion, Field Human Capital Investment / Amount ¥3.3 billion, Field DX investment / Amount ¥1.3 billion |
| Segment target | Segment Air-conditioning and sanitary systems business / Sales Target ¥39.5 billion, Segment Air-conditioning and sanitary systems business (factories, logistics facilities and hotels) / Sales Target ¥18.5 billion, Segment Air-conditioning and sanitary systems business (renovation) / Sales Target ¥7 billion, Segment Water treatment plant business / Sales Target ¥6 billion, Segment Construction and civil engineering business / Sales Target ¥3.7 billion, Segment Electrical and telecommunications business / Sales Target ¥8.3 billion, Segment Refrigeration and cold-storage business / Sales Target ¥2.5 billion |
| Non-financial targets | Indicator Headcount / Target value 10% increase over 3 years / Timing End of fiscal 2028, Indicator Ratio of construction management personnel / Target value 42％ / Timing End of fiscal 2028, Indicator Reduction in on-site work / Target value 20～30％ / Timing Phase 1 (2026–2028), Indicator Reduction in on-site sorting work / Target value 30～40％ / Timing Phase 1 (2026–2028) |
| Key initiatives | Portfolio strategy, Growth strategy targets, Construction of Yamato Techno Park, Promoting Human Capital Management, Promotion of DX, Advancing ESG Management, Strengthening and expansion of core businesses, Promotion of construction products, Reduction of cross-shareholdings |
| Results under the previous plan | Net Sales 530 / Ordinary income 39 / ROE At least 8.0% / Payout ratio 30% or more → Net Sales 549 / Ordinary income 57 / ROE 10.3％ / Payout ratio 30.3％（Net Sales 3.6% / Ordinary income 46.2% / ROE 28.8% / Payout ratio 1.0%） |
| Risks identified | Labor shortages in a declining-population society, Surging materials and energy prices, The normalization of extreme weather, A future contraction of the construction market, Aging social infrastructure, Disaster preparedness requirements, Demand for the realization of a decarbonized society |
| Publication date | 25 March 2026 |
Items this document does not state (10)
Operating profit targetOperating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share pricePlan assumptionsReason for revision or withdrawalSize 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.To address future labor shortages and changes in the construction market, promote the industrialization of construction and achieve sustainable growth. Specifically, the Company plans to advance the automation and robotization of steel-frame and equipment fabrication, improve transport efficiency, establish a construction management framework, develop human resources and invest in DX.
How to read this page
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