Worth reading
71In 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
137000
¥ million (net sales target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+13.9%
基準 120,303Target137,000million yen
Operating profit+40.1%
基準 7,496Target10,500million yen
ROE+3.0pt
基準 2,026Target2,029%
ROIC+3.0pt
基準 2,026Target2,029%
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.
Investment amount by sectorField Routine investment / Amount ¥7,500 million, Field Human resources investment / Amount ¥600 million, Field Growth Investment / Amount ¥37,400 million, Field Production enhancement investments / Amount ¥3,000 million (included in growth investments)
Statements about the use of capital
Payout ratio / DOE policyConsolidated dividend payout ratio of 23.0% (target for 2029/3). The company intends to increase this to 30% over time.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC: 5.6%; cost of shareholders’ equity: 5.8% (three-year-forward target from 2029/3)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 company identifies the following issues concerning share price formation: increasing EPS through improved performance, reducing the cost of capital based on an appropriate financial balance, maintaining higher per-share dividends, strengthening IR, improving trading liquidity, and enhancing the attractiveness of shareholder benefits. The PBR and the assessment that the share price is at a low level are Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Priority initiative: “Rebuilding Strength”
02Business growth and improved profitability
03Strengthen the profitability of core businesses
04Expanding the scale of growth businesses
05Accelerating the development of future businesses
06Rebuilding the production system
07Building a sustainable SCM system
08Promoting the adoption of renewable energy
09Human capital development and health-focused management
10Developing management personnel and employees
11DEI Promotion
12Health-focused management
13Strengthening corporate governance
14Sustainability strategy (GX)
15Digital strategy (DX)
16Market-in product development
17Strengthening regular products
18Strengthening brands and value
19Localization strategy
20Testing automated, labor-saving, and unmanned production lines
21Introducing AI and data utilization technologies
22Introducing equipment for low- and medium-volume demand
23Promoting the optimization of production site locations
24Building a digital infrastructure
25Strengthening digital security
26Integrating business systems in Japan and overseas
27Developing digital talent
Plan assumptionsThe number of births in Japan falls below 700,000 for the first time, Japan’s total population may fall below 100 million by fiscal 2050, The aging rate rises from 29.4% to 38.7% by 2070, The global population reaches 8.2 billion and increases to 10.2 billion by the end of this century, Higher raw material procurement costs due to the continuing trend toward yen depreciation, Market price fluctuations due to changes in the production volumes of key raw materials, Greater procurement difficulties due to changes in the supply-demand balance for key raw materials
Segment targetSegment Domestic confectionery / Sales Target ¥122,000 million (2029/3) / Profit Target Not disclosed, Segment Overseas confectionery / Sales Target ¥8,300 million (2029/3) / Profit Target Not disclosed, Segment Frozen food and beverages / Sales Target ¥6,700 million (2029/3) / Profit Target Not disclosed
Non-financial targetsIndicator Percentage of Female Managers / Target value 24.0% / Timing 2029/3, Indicator Number of management personnel developed / Target value 5 people / Timing 2029/3, Indicator Male parental leave uptake rate / Target value Maintain 100.0% / Timing 2029/3, Indicator Employment Rate of People with Disabilities / Target value 2.90% / Timing 2029/3, Indicator Improvement in work engagement / Target value 52.0% / Timing 2029/3, Indicator Paid leave utilization rate / Target value 100.0% / Timing 2029/3, Indicator Sustainable cocoa sourcing ratio / Target value 100％ / Timing Not disclosed, Indicator Plastic reduction ratio / Target value ▲19.0% (versus fiscal 2018) / Timing Not disclosed, Indicator Renewable energy utilization rate / Target value 29.0％ / Timing Not disclosed, Indicator Carbon dioxide emissions / Target value ▲38.0% or more (versus fiscal 2013) / Timing Not disclosed
Risks identified by the company
Changes in demographics and population structure
Decline in the consumer population
Decline in the labor force
Decline in purchasing power due to yen depreciation
Continued high prices for raw materials
Changes in geopolitical factors
Changes in the foreign exchange environment
Changes in the raw material procurement environment due to global warming and other factors
Increasing severity and frequency of natural disasters
Increasing security risks
| Item | Details |
|---|---|
| Plan name | Medium-Term Three-Year Management Plan (2026) |
| Plan period | Fiscal year ending March 2027 (151st fiscal year) to fiscal year ending March 2029 (153rd fiscal year) |
| Progress against the plan | Formulated |
| Sales Target | 120,303 (actual for 2026/3) → 137,000 (target for 2029/3) |
| Operating profit target | 7,496 (actual for 2026/3) → 10,500 (target for 2029/3) |
| ROE target | 9.2% (actual for 2026/3) → 9.3% (target for 2029/3) |
| ROIC target | 7.5%（2026/3） → 8.3% (target for 2029/3) |
| Payout ratio / DOE policy | Consolidated dividend payout ratio of 23.0% (target for 2029/3). The company intends to increase this to 30% over time. |
| Cost of capital | WACC: 5.6%; cost of shareholders’ equity: 5.8% (three-year-forward target from 2029/3) |
| Self-assessment of PBR and share price | The company identifies the following issues concerning share price formation: increasing EPS through improved performance, reducing the cost of capital based on an appropriate financial balance, maintaining higher per-share dividends, strengthening IR, improving trading liquidity, and enhancing the attractiveness of shareholder benefits. The PBR and the assessment that the share price is at a low level are Not disclosed. |
| Investment amount by sector | Field Routine investment / Amount ¥7,500 million, Field Human resources investment / Amount ¥600 million, Field Growth Investment / Amount ¥37,400 million, Field Production enhancement investments / Amount ¥3,000 million (included in growth investments) |
| Segment target | Segment Domestic confectionery / Sales Target ¥122,000 million (2029/3) / Profit Target Not disclosed, Segment Overseas confectionery / Sales Target ¥8,300 million (2029/3) / Profit Target Not disclosed, Segment Frozen food and beverages / Sales Target ¥6,700 million (2029/3) / Profit Target Not disclosed |
| Non-financial targets | Indicator Percentage of Female Managers / Target value 24.0% / Timing 2029/3, Indicator Number of management personnel developed / Target value 5 people / Timing 2029/3, Indicator Male parental leave uptake rate / Target value Maintain 100.0% / Timing 2029/3, Indicator Employment Rate of People with Disabilities / Target value 2.90% / Timing 2029/3, Indicator Improvement in work engagement / Target value 52.0% / Timing 2029/3, Indicator Paid leave utilization rate / Target value 100.0% / Timing 2029/3, Indicator Sustainable cocoa sourcing ratio / Target value 100％ / Timing Not disclosed, Indicator Plastic reduction ratio / Target value ▲19.0% (versus fiscal 2018) / Timing Not disclosed, Indicator Renewable energy utilization rate / Target value 29.0％ / Timing Not disclosed, Indicator Carbon dioxide emissions / Target value ▲38.0% or more (versus fiscal 2013) / Timing Not disclosed |
| Plan assumptions | The number of births in Japan falls below 700,000 for the first time, Japan’s total population may fall below 100 million by fiscal 2050, The aging rate rises from 29.4% to 38.7% by 2070, The global population reaches 8.2 billion and increases to 10.2 billion by the end of this century, Higher raw material procurement costs due to the continuing trend toward yen depreciation, Market price fluctuations due to changes in the production volumes of key raw materials, Greater procurement difficulties due to changes in the supply-demand balance for key raw materials |
| Key initiatives | Priority initiative: “Rebuilding Strength”, Business growth and improved profitability, Strengthen the profitability of core businesses, Expanding the scale of growth businesses, Accelerating the development of future businesses, Rebuilding the production system, Building a sustainable SCM system, Promoting the adoption of renewable energy, Human capital development and health-focused management, Developing management personnel and employees, DEI Promotion, Health-focused management, Strengthening corporate governance, Sustainability strategy (GX), Digital strategy (DX), Market-in product development, Strengthening regular products, Strengthening brands and value, Localization strategy, Testing automated, labor-saving, and unmanned production lines, Introducing AI and data utilization technologies, Introducing equipment for low- and medium-volume demand, Promoting the optimization of production site locations, Building a digital infrastructure, Strengthening digital security, Integrating business systems in Japan and overseas, Developing digital talent |
| Risks identified | Changes in demographics and population structure, Decline in the consumer population, Decline in the labor force, Decline in purchasing power due to yen depreciation, Continued high prices for raw materials, Changes in geopolitical factors, Changes in the foreign exchange environment, Changes in the raw material procurement environment due to global warming and other factors, Increasing severity and frequency of natural disasters, Increasing security risks |
| Publication date | 28 April 2026 |
Items this document does not state (8)
Operating profit margin targetNet income targetTreasury share acquisition policyTotal investment planResults under the previous planReason for revision or withdrawalSize 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.To realize the management philosophy of “enhancing the viability of the group, including people with conflicting interests,” achieve sustainable growth, and contribute to local communities and society. The company also aims to promote “響働” through the release of the medium-term management plan, enabling stakeholders to better understand the company.
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.