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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet income for the current fiscal year+0.1%
基準 2,026Target2,028Hundreds of millions of yen
ROE+2.0pt
基準 2,026Target2,028％
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 plan¥4.5 billion (previous medium-term management plan, fiscal 2026 final-year target) → ¥3.3 billion (2026 Plan) / ¥3.32 billion (fiscal 2025 actual)0.0%Calculated from the two disclosed figures
Investment amount by sectorField Investment to address aging facilities and renewal investment / Amount ¥3.2–3.5 billion / Subject Structural reform period, Field Renewal investment / Amount Approximately ¥3.0 billion / Subject Capital allocation toward a period of stable growth, Field Growth Investment / Amount Not disclosed / Subject Funded by surplus funds and idle assets
Statements about the use of capital
Payout ratio / DOE policyThe company will maintain its progressive dividend policy and aims for a total payout ratio of at least 60%. From fiscal 2026 onward, it will maintain its progressive dividend policy and keep the annual dividend per share at ¥280.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthen integrated production and sales management functions
02Strengthen the engineering organization
03Thoroughly address aging facilities
04Introduce the Three Lines Model
05Proposal-based sales that anticipate consumer needs
06Develop and expand sales of distinctive products
07Expand and establish the independence of overseas operations
08Expand into business areas with strong synergies with existing businesses
09Promote revenue-generating DX and operational-support DX
10Operate the new personnel system introduced in fiscal 2025 and strengthen career planning
11Stable shareholder returns based on financial soundness and sustainable growth
12Address sustainability
Plan assumptionsGlobal demand: quantitative expansion driven by population growth, alongside qualitative demand growth driven by economic expansion, Domestic demand: no quantitative growth is expected amid the declining birthrate and aging population, Adapting to an inflationary economy: concerns about inflation accelerating due to geopolitical risks, and adaptation to inflation through price pass-through, Accelerating advances in AI technology: business transformation based on the use of AI and related skills are becoming essential, Grain markets: an upward trend in grain prices as supply and demand stabilize, Sustainability: growing social demands for stable supply and sustainability
Non-financial targetsIndicator name GHG reduction rate / Target value Achieve a 30% reduction in GHG emissions by 2030 (versus 2020) / Timing 2030, Indicator name Percentage of women in managerial positions, including department heads / Target value Increase / Timing Not disclosed, Indicator name Foreign workers and technicians employed under the Specified Skilled Worker program / Target value Utilization / Timing Not disclosed
Risks identified by the company
Business environment changes exceeding expectations
Concerns about inflation accelerating due to geopolitical risks
General industry and market conditions
Interest Rates
Currency and foreign exchange fluctuations
General domestic and international economic conditions
Reason for revision or withdrawal
The fiscal 2026 numerical targets are expected to be missed because the business environment has changed more than anticipated and the company is implementing measures to address aging facilities.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan Rolling Plan |
| Plan period | 2026 Plan–2028 Plan (medium-term financial targets are for fiscal 2028). The previous medium-term management plan covered fiscal 2024–2026. |
| Progress against the plan | Partially revised |
| Net income target | ¥4.5 billion (previous medium-term management plan, fiscal 2026 final-year target) → At least ¥3.5 billion (fiscal 2028)（-22.2% (simple calculation)） |
| ROE target | At least 8% (previous medium-term management plan, fiscal 2026 final-year target) / 6.6% (fiscal 2025 actual) → At least 6.9% (fiscal 2028)（-13.8% (simple calculation)） |
| Payout ratio / DOE policy | The company will maintain its progressive dividend policy and aims for a total payout ratio of at least 60%. From fiscal 2026 onward, it will maintain its progressive dividend policy and keep the annual dividend per share at ¥280. |
| Investment amount by sector | Field Investment to address aging facilities and renewal investment / Amount ¥3.2–3.5 billion / Subject Structural reform period, Field Renewal investment / Amount Approximately ¥3.0 billion / Subject Capital allocation toward a period of stable growth, Field Growth Investment / Amount Not disclosed / Subject Funded by surplus funds and idle assets |
| Non-financial targets | Indicator name GHG reduction rate / Target value Achieve a 30% reduction in GHG emissions by 2030 (versus 2020) / Timing 2030, Indicator name Percentage of women in managerial positions, including department heads / Target value Increase / Timing Not disclosed, Indicator name Foreign workers and technicians employed under the Specified Skilled Worker program / Target value Utilization / Timing Not disclosed |
| Plan assumptions | Global demand: quantitative expansion driven by population growth, alongside qualitative demand growth driven by economic expansion, Domestic demand: no quantitative growth is expected amid the declining birthrate and aging population, Adapting to an inflationary economy: concerns about inflation accelerating due to geopolitical risks, and adaptation to inflation through price pass-through, Accelerating advances in AI technology: business transformation based on the use of AI and related skills are becoming essential, Grain markets: an upward trend in grain prices as supply and demand stabilize, Sustainability: growing social demands for stable supply and sustainability |
| Key initiatives | Strengthen integrated production and sales management functions, Strengthen the engineering organization, Thoroughly address aging facilities, Introduce the Three Lines Model, Proposal-based sales that anticipate consumer needs, Develop and expand sales of distinctive products, Expand and establish the independence of overseas operations, Expand into business areas with strong synergies with existing businesses, Promote revenue-generating DX and operational-support DX, Operate the new personnel system introduced in fiscal 2025 and strengthen career planning, Stable shareholder returns based on financial soundness and sustainable growth, Address sustainability |
| Results under the previous plan | ¥4.5 billion (previous medium-term management plan, fiscal 2026 final-year target) → ¥3.3 billion (2026 Plan) / ¥3.32 billion (fiscal 2025 actual) |
| Reason for revision or withdrawal | The fiscal 2026 numerical targets are expected to be missed because the business environment has changed more than anticipated and the company is implementing measures to address aging facilities. |
| Risks identified | Business environment changes exceeding expectations, Concerns about inflation accelerating due to geopolitical risks, General industry and market conditions, Interest Rates, Currency and foreign exchange fluctuations, General domestic and international economic conditions |
| Date of board resolution | 20 May 2026 |
| Publication date | 20 May 2026 |
Items this document does not state (10)
Sales TargetOperating profit targetOperating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetSize of the Target Market
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 fiscal 2026 numerical targets are expected to be missed because the business environment has changed more than anticipated since the previous medium-term management plan was formulated, while the company is also implementing measures to address aging facilities. The company states that shifting to a rolling format will enable rapid and flexible decision-making in response to a rapidly changing business environment.
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