Worth reading
75Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
10
¥100 million (difference between the operating profit target and the adjusted operating profit target after the change in metric)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales0.0%
基準 70Target70100 million
Operating profit+15.4%
基準 6.5Target7.5100 million
ROE0.0pt
基準 8Target8%
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 planOperating profit of ¥6.5 billion, ROE of 8.0% and revenue of ¥70 billion for the fiscal year ending March 2029 → Operating profit of ¥2.94 billion, ROE of 8.2% and revenue of ¥47.6 billion for the fiscal year ending March 2026-0.1%Calculated from the two disclosed figures
Total investment planApproximately ¥30 billion or more in growth investments and other investments to strengthen the earnings base (remaining plan period: fiscal years ending March 2027 to March 2029)
Investment amount by sectorField Growth investments and other investments to strengthen the earnings base / Amount Approximately ¥30 billion or more, Field Investments in growth areas, including the IP business and content businesses / Amount Not disclosed, Field Investments to continue and strengthen existing businesses / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyMaintain DOE (dividend on equity) of 2.0% or higher from the fiscal year ending March 2025 through the fiscal year ending March 2029. The company aims to provide stable and consistent dividends.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 completed a ¥9.75 billion share repurchase on 31 August 2026. In light of changes in the business environment, it will also consider additional shareholder returns from the perspectives of enhancing corporate value and capital efficiency.
Self-assessment of PBR and share priceThe PBR target for the fiscal year ending March 2029 is 1.0x or higher. Actual PBR was 0.93x for the fiscal year ended March 2025 and 0.98x for the fiscal year ended March 2026.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Structural and organisational reform
02Securing new earnings bases
03Execution of financial and capital strategies
04Advancement and strengthening of corporate functions and systems
05Review business processes and organisational structures to respond to trends in the IP business and AI video production
06Continue to consider investments in the IP business and areas adjacent to existing businesses, among others
07Make improving capital efficiency a key objective and aim to maximise adjusted ROE excluding goodwill and other items
08Aim to enhance corporate value over the medium to long term through disciplined investment and execution of financial and capital strategies
09Continue stable shareholder returns
Plan assumptionsAn effective tax rate of 30.62% was used to calculate ROIC. Other assumptions, including exchange rates, market growth rates and raw material prices, are Not disclosed.
Reason for revision or withdrawal
In the fiscal year ending March 2026, the company resolved to acquire グラニフ社, and the 東北新社グループ's earnings structure has changed to one based on goodwill amortisation. Accordingly, the company is placing greater emphasis on growth driven by the underlying earnings power of the business. It also took into account changes in the business environment and internal issues that had newly come to light.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Plan period | Fiscal years ending March 2025 to March 2029 |
| Progress against the plan | Partially revised |
| Sales Target | ¥70.0 billion → ¥70.0 billion（0%） |
| Operating profit target | ¥6.5 billion → ¥7.5 billion (adjusted operating profit excluding goodwill and other items)（+15.4% (simple comparison)） |
| ROE target | 8.0%（ROE） → 8.0% (adjusted ROE excluding goodwill and other items)（0% (based on target level)） |
| Payout ratio / DOE policy | Maintain DOE (dividend on equity) of 2.0% or higher from the fiscal year ending March 2025 through the fiscal year ending March 2029. The company aims to provide stable and consistent dividends. |
| Treasury share acquisition policy | The company completed a ¥9.75 billion share repurchase on 31 August 2026. In light of changes in the business environment, it will also consider additional shareholder returns from the perspectives of enhancing corporate value and capital efficiency. |
| Self-assessment of PBR and share price | The PBR target for the fiscal year ending March 2029 is 1.0x or higher. Actual PBR was 0.93x for the fiscal year ended March 2025 and 0.98x for the fiscal year ended March 2026. |
| Total investment plan | Approximately ¥30 billion or more in growth investments and other investments to strengthen the earnings base (remaining plan period: fiscal years ending March 2027 to March 2029) |
| Investment amount by sector | Field Growth investments and other investments to strengthen the earnings base / Amount Approximately ¥30 billion or more, Field Investments in growth areas, including the IP business and content businesses / Amount Not disclosed, Field Investments to continue and strengthen existing businesses / Amount Not disclosed |
| Plan assumptions | An effective tax rate of 30.62% was used to calculate ROIC. Other assumptions, including exchange rates, market growth rates and raw material prices, are Not disclosed. |
| Key initiatives | Structural and organisational reform, Securing new earnings bases, Execution of financial and capital strategies, Advancement and strengthening of corporate functions and systems, Review business processes and organisational structures to respond to trends in the IP business and AI video production, Continue to consider investments in the IP business and areas adjacent to existing businesses, among others, Make improving capital efficiency a key objective and aim to maximise adjusted ROE excluding goodwill and other items, Aim to enhance corporate value over the medium to long term through disciplined investment and execution of financial and capital strategies, Continue stable shareholder returns |
| Results under the previous plan | Operating profit of ¥6.5 billion, ROE of 8.0% and revenue of ¥70 billion for the fiscal year ending March 2029 → Operating profit of ¥2.94 billion, ROE of 8.2% and revenue of ¥47.6 billion for the fiscal year ending March 2026 |
| Reason for revision or withdrawal | In the fiscal year ending March 2026, the company resolved to acquire グラニフ社, and the 東北新社グループ's earnings structure has changed to one based on goodwill amortisation. Accordingly, the company is placing greater emphasis on growth driven by the underlying earnings power of the business. It also took into account changes in the business environment and internal issues that had newly come to light. |
| Date of board resolution | 13 November 2026 |
| Publication date | 13 November 2026 |
Items this document does not state (8)
Operating profit margin targetNet income targetROIC targetCost of capitalSegment targetNon-financial targetsSize 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.The acquisition of グラニフ社 changed the earnings structure to one based on goodwill amortisation, increasing the focus on growth driven by the underlying earnings power of the business. In light of changes in the business environment and internal issues, the company is also pursuing growth investments and reviewing its business and organisational structures.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.