Worth reading
34Immaterial
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
13.2
ROE（％）Wording
Conditional
How definitive the wording is.Items stated in the management plan
ROENot disclosed → 10% (target)
Only the target level is shown because the current level for comparison was not provided.Statements about the use of capital
Payout ratio / DOE policyFor the period covered by the Phase III Medium-Term Management Plan, the company will implement whichever is higher: a payout ratio of at least 30% or a dividend-on-equity ratio (DOE) of at least 3%. Its basic policy is to provide stable and consistent dividends, with increases in dividends planned if net income exceeds the forecast.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 plans to conduct share buybacks flexibly, taking business performance trends into account.
Cost of capitalCost of equity has remained broadly in the latter half of the 5% range.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 for the fiscal year ended August 2026 was 0.9x (0.92x as stated), below 1x. The company recognizes that it has not received sufficient recognition from the market and that its share price has remained undervalued.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Consulting-based renewal proposals
02Growth strategy through M&A and business alliances
03Promotion of business transformation and investment in operational efficiency
04Investor relations activities
| Item | Details |
|---|---|
| Plan name | Phase III Medium-Term Management Plan |
| ROE target | Not disclosed → 10% (target) |
| Payout ratio / DOE policy | For the period covered by the Phase III Medium-Term Management Plan, the company will implement whichever is higher: a payout ratio of at least 30% or a dividend-on-equity ratio (DOE) of at least 3%. Its basic policy is to provide stable and consistent dividends, with increases in dividends planned if net income exceeds the forecast. |
| Treasury share acquisition policy | The company plans to conduct share buybacks flexibly, taking business performance trends into account. |
| Cost of capital | Cost of equity has remained broadly in the latter half of the 5% range. |
| Self-assessment of PBR and share price | PBR for the fiscal year ended August 2026 was 0.9x (0.92x as stated), below 1x. The company recognizes that it has not received sufficient recognition from the market and that its share price has remained undervalued. |
| Key initiatives | Consulting-based renewal proposals, Growth strategy through M&A and business alliances, Promotion of business transformation and investment in operational efficiency, Investor relations activities |
| Date of board resolution | 23 October 2026 |
| Publication date | 23 October 2026 |
Items this document does not state (16)
Plan periodProgress against the planSales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planReason for revision or withdrawalSize of the Target MarketRisks 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.To improve capital profitability and market valuation and enhance corporate value. Even when business performance is strong, the company has not received sufficient recognition from the market, and its future growth potential has also not been adequately valued. It therefore aims to achieve an appropriate valuation of corporate value through improvements in earnings power, shareholder returns and investor relations activities.
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.