Worth reading
48Recurring
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
—
Displayed only when the document provides numerical figures.Wording
Definitive
How definitive the wording is.Items stated in the management plan
Partially revisedInvestment amount by sectorField Equipment renewal investments / Amount ¥1,296 million / Timing Fiscal 2026 Plan
Statements about the use of capital
Payout ratio / DOE policyThe 50% dividend payout ratio will be maintained. The payout ratio was revised to 50% from fiscal year 2024.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of equity: 8.6% (company estimate). As the company has no borrowings, it considers its cost of capital to be approximately equal to its cost of equity.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 0.91x in fiscal year 2025, below 1.0x. The company states that improving ROE and PER is necessary to increase PBR.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01①Development of competitive products and labor-saving construction methods
02②Strengthening order-taking capabilities
03③Building a robust construction system
04④Strengthening the internal infrastructure and leveraging data
05⑤Investment in human capital
06⑥Improving construction and manufacturing quality
07①Enhancing shareholder returns
08②Measures to improve liquidity
09③Enhancing IR activities
Plan assumptionsDeclining demand for new construction, construction schedule delays due to the 2024 overtime-regulation issue, and the continued upward trend in construction costs.
Non-financial targetsIndicator Sanyukai Network (contractor network) / Target value More than 500 companies nationwide / Timing Not disclosed, Indicator Construction speed (Smart Clip®) / Target value At least twice that of conventional construction methods / Timing Not disclosed, Indicator Roof installation process (Sun Call Roof Lock® 130) / Target value Approximately 60% less than conventional construction methods / Timing Not disclosed
Risks identified by the company
Risk of declining demand for new construction
Risk of construction schedule delays due to the 2024 overtime-regulation issue (approximately equivalent to a decline in net sales)
Continued upward trend in construction costs
Reason for revision or withdrawal
Improving ROE and PER is necessary to increase PBR.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Policy |
| Plan period | 3 years |
| Progress against the plan | Partially revised |
| Payout ratio / DOE policy | The 50% dividend payout ratio will be maintained. The payout ratio was revised to 50% from fiscal year 2024. |
| Cost of capital | Cost of equity: 8.6% (company estimate). As the company has no borrowings, it considers its cost of capital to be approximately equal to its cost of equity. |
| Self-assessment of PBR and share price | PBR was 0.91x in fiscal year 2025, below 1.0x. The company states that improving ROE and PER is necessary to increase PBR. |
| Investment amount by sector | Field Equipment renewal investments / Amount ¥1,296 million / Timing Fiscal 2026 Plan |
| Non-financial targets | Indicator Sanyukai Network (contractor network) / Target value More than 500 companies nationwide / Timing Not disclosed, Indicator Construction speed (Smart Clip®) / Target value At least twice that of conventional construction methods / Timing Not disclosed, Indicator Roof installation process (Sun Call Roof Lock® 130) / Target value Approximately 60% less than conventional construction methods / Timing Not disclosed |
| Plan assumptions | Declining demand for new construction, construction schedule delays due to the 2024 overtime-regulation issue, and the continued upward trend in construction costs. |
| Key initiatives | ①Development of competitive products and labor-saving construction methods, ②Strengthening order-taking capabilities, ③Building a robust construction system, ④Strengthening the internal infrastructure and leveraging data, ⑤Investment in human capital, ⑥Improving construction and manufacturing quality, ①Enhancing shareholder returns, ②Measures to improve liquidity, ③Enhancing IR activities |
| Reason for revision or withdrawal | Improving ROE and PER is necessary to increase PBR. |
| Risks identified | Risk of declining demand for new construction, Risk of construction schedule delays due to the 2024 overtime-regulation issue (approximately equivalent to a decline in net sales), Continued upward trend in construction costs |
| Publication date | 22 June 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyTotal investment planSegment targetResults under the previous planSize 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.The company states that improving ROE and PER is necessary to increase PBR, and that it will pursue its medium-term management policy and address the capital markets to achieve this.
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.