Worth reading
58In 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
20
Yen (increase in annual dividend per share)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedROEAt least 5% (FY2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous plan¥35 (fiscal year ending March 2025, previous announcement) → ¥35 (actual for the fiscal year ending March 2025)0.0%Calculated from the two disclosed figures
Total investment planStrategic large-scale growth investments totaling more than ¥20 billion (fiscal year ending March 2028 to fiscal year ending March 2030)
Investment amount by sectorField Strategic large-scale growth investments / Amount More than ¥20 billion
Statements about the use of capital
Payout ratio / DOE policyProgressive dividends will continue during the period of the next medium-term management plan. Total shareholder returns will exceed ¥10 billion. Numerical targets for the payout ratio and DOE have not been disclosed.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 total amount allocated to share repurchases and cancellations during the period of the current medium-term management plan will be ¥3.5 billion. Approximately ¥1.5 billion had been completed by the fiscal year ending March 2026, and the remaining approximately ¥2 billion is scheduled to be completed by the fiscal year ending March 2027. During the next medium-term management plan, share repurchases and cancellations will be carried out flexibly.
Self-assessment of PBR and share priceThe target for FY2026 is a PBR of 1x. PBR is currently at 0.8x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Generating cash through the sale of equity holdings
02Plan for strategic large-scale growth investments totaling more than ¥20 billion
03Increase total shareholder returns to more than ¥10 billion
Reason for revision or withdrawal
To further improve capital efficiency and enhance shareholder value, in light of the importance of management that is conscious of the cost of capital and share price.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan “MEITO CHALLENGE 2026” / Next Medium-Term Management Plan “MEITO CHALLENGE 2029” |
| Plan period | FY2024 to FY2026 / fiscal year ending March 2028 to fiscal year ending March 2030 |
| Progress against the plan | Partially revised |
| ROE target | At least 5% (FY2026) → Not disclosed |
| Payout ratio / DOE policy | Progressive dividends will continue during the period of the next medium-term management plan. Total shareholder returns will exceed ¥10 billion. Numerical targets for the payout ratio and DOE have not been disclosed. |
| Treasury share acquisition policy | The total amount allocated to share repurchases and cancellations during the period of the current medium-term management plan will be ¥3.5 billion. Approximately ¥1.5 billion had been completed by the fiscal year ending March 2026, and the remaining approximately ¥2 billion is scheduled to be completed by the fiscal year ending March 2027. During the next medium-term management plan, share repurchases and cancellations will be carried out flexibly. |
| Self-assessment of PBR and share price | The target for FY2026 is a PBR of 1x. PBR is currently at 0.8x. |
| Total investment plan | Strategic large-scale growth investments totaling more than ¥20 billion (fiscal year ending March 2028 to fiscal year ending March 2030) |
| Investment amount by sector | Field Strategic large-scale growth investments / Amount More than ¥20 billion |
| Key initiatives | Generating cash through the sale of equity holdings, Plan for strategic large-scale growth investments totaling more than ¥20 billion, Increase total shareholder returns to more than ¥10 billion |
| Results under the previous plan | ¥35 (fiscal year ending March 2025, previous announcement) → ¥35 (actual for the fiscal year ending March 2025) |
| Reason for revision or withdrawal | To further improve capital efficiency and enhance shareholder value, in light of the importance of management that is conscious of the cost of capital and share price. |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (11)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetCost of capitalSegment targetNon-financial targetsPlan assumptionsSize 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 further improve capital efficiency and enhance shareholder value, in light of the importance of management that is conscious of the cost of capital and share price.
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.