Worth reading
76Important
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
135
¥100 million (consolidated operating income target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Operating profit+0.1%
基準 2,026Target2,029Hundreds of millions of yen
ROE-2,011.0pt
基準 2,026Target15％
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.
Net income for the current fiscal yearActual for the fiscal year ended March 2026: ¥9.2 billion → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet sales of ¥91.5 billion, operating income of ¥3.25 billion, net income of ¥2.65 billion and ROE of 8.0% → Net sales of ¥104.8 billion, operating income of ¥11.6 billion, net income of ¥9.2 billion and ROE of 15.4% (fiscal year ended March 2025) and 19.9% (fiscal year ended March 2026)+2,114.2%Calculated from the two disclosed figures
Total investment planCumulative growth investment of ¥24 billion over 3 years
Investment amount by sectorField Growth investment and strengthening of the business foundation / Amount ¥24 billion, Field DX promotion, M&A alliances, brand strategy investment, new business development and technology R&D expenses, sustainability, investment in human capital, renewal of core systems, and other areas / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyDuring the period of this medium-term management plan, through the fiscal year ending March 2029, the Company aims for the higher of a consolidated dividend payout ratio of 40% or more and DOE of 6.0% or more. The Company will provide stable and continuous shareholder returns.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalThe Company's recognized cost of capital: 7–8%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe share price has risen steadily over the past 5 years. The PBR and the assessment that it is at a low level: not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Actions to make the business “exciting”
02Strengthening Existing Businesses
03Active investment in technology, R&D and new business development
04Expanding the overseas business
05Productivity Improvement
06Actions to enable employees to perform at their best with enthusiasm
07Securing and Developing Human Resources
08Enhancing Employee Engagement and Activating Communication
09Actions to remain an “exciting” company
10Strengthening Brand Power
11Building trust as a company
12Expanding orders for high-value-added services leveraging advanced technologies
13Maximizing synergies between the Facilities Construction Business and the Equipment Manufacturing and Sales Business
14Building a platform for entering the agri business, starting with comprehensive proposals for plant factories
Plan assumptionsData center (DC) market growth rate: 8.3% (2026–2029), Secondary battery market growth rate: 20.8% (2019–2030), Pharmaceutical market growth rate: 8.2% (2020–2030), Semiconductor-related market growth rate: 05.9% (2025–2030), Food market growth rate: 2.9% (2015–2030), Agri (plant factory) market growth rate: 27.1% (2025–2040), FPD manufacturing equipment market growth rate: 10.9% (2025–2027), Semiconductor manufacturing equipment market growth rate: 6.9% (2025–2027), Plastic film market growth rate: 04.2% (2025–2030), The global plant factory systems market is expected to expand from ¥1.5 trillion in 2025 to ¥55 trillion in 2040.
Segment targetSegment Facilities construction business / Sales target Revenue share from high-margin renovation projects: 50% or more / Profit Target Not disclosed
Non-financial targetsIndicator Scope 1 + 2 CO₂ emissions / Target value 55.0% reduction from fiscal 2019 / Timing Final fiscal year (fiscal year ending March 2029), Indicator Scope 3 CO₂ emissions / Target value 23.0% reduction from fiscal 2019 / Timing Final fiscal year (fiscal year ending March 2029), Indicator Increase in personnel / Target value Increase of 60 people plus additional personnel over the 3-year medium-term period / Timing During the plan period
Size of the Target MarketThe global plant factory systems market is expected to expand from ¥1.5 trillion in 2025 to ¥55 trillion in 2040. The market growth rates listed are 8.3% for data centers, 20.8% for secondary batteries, 8.2% for pharmaceuticals, 05.9% for semiconductor-related products, 2.9% for food, 27.1% for agri, 10.9% for FPD manufacturing equipment, 6.9% for semiconductor manufacturing equipment and 04.2% for plastic films. Sources: Ministry of Internal Affairs and Communications, GX Executive Agency of the Cabinet Secretariat, Secretariat of the Headquarters for Healthcare Policy, Ministry of Economy, Trade and Industry, Ministry of Agriculture, Forestry and Fisheries, Cabinet Secretariat, Semiconductor Equipment and Materials International Japan, Market Research Center Co., Ltd., and others.
| Item | Details |
|---|---|
| Plan name | 19th Medium-Term Management Plan “Building the Foundation for Takeoff—Foundation for Takeoff—” |
| Plan period | April 2026–March 2029 (fiscal years ending March 2027–March 2029) |
| Progress against the plan | Formulated |
| Sales Target | Actual for the fiscal year ended March 2026: ¥104.8 billion → Target for the fiscal year ending March 2029: ¥125 billion |
| Operating profit target | Actual for the fiscal year ended March 2026: ¥11.6 billion → Target for the fiscal year ending March 2029: ¥13.5 billion |
| Net income target | Actual for the fiscal year ended March 2026: ¥9.2 billion → Not disclosed |
| ROE target | Actual for the fiscal year ended March 2026: 19.9% → 15% or higher during the plan period |
| Payout ratio / DOE policy | During the period of this medium-term management plan, through the fiscal year ending March 2029, the Company aims for the higher of a consolidated dividend payout ratio of 40% or more and DOE of 6.0% or more. The Company will provide stable and continuous shareholder returns. |
| Cost of capital | The Company's recognized cost of capital: 7–8% |
| Self-assessment of PBR and share price | The share price has risen steadily over the past 5 years. The PBR and the assessment that it is at a low level: not disclosed. |
| Total investment plan | Cumulative growth investment of ¥24 billion over 3 years |
| Investment amount by sector | Field Growth investment and strengthening of the business foundation / Amount ¥24 billion, Field DX promotion, M&A alliances, brand strategy investment, new business development and technology R&D expenses, sustainability, investment in human capital, renewal of core systems, and other areas / Amount Not disclosed |
| Segment target | Segment Facilities construction business / Sales target Revenue share from high-margin renovation projects: 50% or more / Profit Target Not disclosed |
| Non-financial targets | Indicator Scope 1 + 2 CO₂ emissions / Target value 55.0% reduction from fiscal 2019 / Timing Final fiscal year (fiscal year ending March 2029), Indicator Scope 3 CO₂ emissions / Target value 23.0% reduction from fiscal 2019 / Timing Final fiscal year (fiscal year ending March 2029), Indicator Increase in personnel / Target value Increase of 60 people plus additional personnel over the 3-year medium-term period / Timing During the plan period |
| Plan assumptions | Data center (DC) market growth rate: 8.3% (2026–2029), Secondary battery market growth rate: 20.8% (2019–2030), Pharmaceutical market growth rate: 8.2% (2020–2030), Semiconductor-related market growth rate: 05.9% (2025–2030), Food market growth rate: 2.9% (2015–2030), Agri (plant factory) market growth rate: 27.1% (2025–2040), FPD manufacturing equipment market growth rate: 10.9% (2025–2027), Semiconductor manufacturing equipment market growth rate: 6.9% (2025–2027), Plastic film market growth rate: 04.2% (2025–2030), The global plant factory systems market is expected to expand from ¥1.5 trillion in 2025 to ¥55 trillion in 2040. |
| Key initiatives | Actions to make the business “exciting”, Strengthening Existing Businesses, Active investment in technology, R&D and new business development, Expanding the overseas business, Productivity Improvement, Actions to enable employees to perform at their best with enthusiasm, Securing and Developing Human Resources, Enhancing Employee Engagement and Activating Communication, Actions to remain an “exciting” company, Strengthening Brand Power, Building trust as a company, Expanding orders for high-value-added services leveraging advanced technologies, Maximizing synergies between the Facilities Construction Business and the Equipment Manufacturing and Sales Business, Building a platform for entering the agri business, starting with comprehensive proposals for plant factories |
| Results under the previous plan | Net sales of ¥91.5 billion, operating income of ¥3.25 billion, net income of ¥2.65 billion and ROE of 8.0% → Net sales of ¥104.8 billion, operating income of ¥11.6 billion, net income of ¥9.2 billion and ROE of 15.4% (fiscal year ended March 2025) and 19.9% (fiscal year ended March 2026) |
| Size of the Target Market | The global plant factory systems market is expected to expand from ¥1.5 trillion in 2025 to ¥55 trillion in 2040. The market growth rates listed are 8.3% for data centers, 20.8% for secondary batteries, 8.2% for pharmaceuticals, 05.9% for semiconductor-related products, 2.9% for food, 27.1% for agri, 10.9% for FPD manufacturing equipment, 6.9% for semiconductor manufacturing equipment and 04.2% for plastic films. Sources: Ministry of Internal Affairs and Communications, GX Executive Agency of the Cabinet Secretariat, Secretariat of the Headquarters for Healthcare Policy, Ministry of Economy, Trade and Industry, Ministry of Agriculture, Forestry and Fisheries, Cabinet Secretariat, Semiconductor Equipment and Materials International Japan, Market Research Center Co., Ltd., and others. |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (5)
Operating profit margin targetROIC targetTreasury share acquisition policyReason for revision or withdrawalRisks identified
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 1st Update to the long-term vision “ASAHI-VISION 2050,” the plan is intended to reliably resolve the current challenges facing the Group and build the foundation for realizing the vision of the ideal state in 2050.
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