Worth reading
59In 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
6800
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+25.6%
基準 5,970Target7,500Hundreds of millions of yen
ROE+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.
What happened to the previous plan6,500 (target under Grand Design 2025) → 5,970 (actual for the fiscal year ending March 2026)（-8.2%）-8.2%Calculated from the two disclosed figures
Investment amount by sectorField Infrastructure investment, maintenance and renewals / Amount ¥30 billion / Period Covered AS2028 period, Field Growth Investment / Amount ¥90 billion–¥100 billion / Period Covered AS2028 period, Field M&A / Amount +α / Period Covered AS2028 period
Statements about the use of capital
Payout ratio / DOE policyAims to provide stable dividends based on a payout ratio of 40% to 50% (during the AS2028 period)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 policyWill consider and implement flexible share repurchases and other measures in light of its financial position and market conditions
Key initiatives
01Business expansion through the development of growth markets
02Expansion of service areas to address diverse risks
03Promotion of BPR utilizing DX and AI
04Promotion of measures to strengthen human capital
05Strengthening sustainability initiatives
Plan assumptionsApproximately 3.4% penetration of home mechanical security systems in the individual market, The total domestic elderly population is expected to increase from 36,529 thousand to 37,480 thousand, ASEAN nominal GDP is expected to expand from USD 4,173 billion to USD 7,450 billion, Population aging is expected to continue structurally, The operating environment includes rising prices, labor shortages, the shift to cashless payments, aging buildings and facilities, natural disasters, and an increase in cybercrime
Non-financial targetsIndicator Reduction in dispatches through lean operations / Target value Not disclosed / Target year FY2028, Indicator Improved inspection efficiency for alarm systems / Target value 15% reduction / Target year FY2028, Indicator Increase in the attach rate of rescue services / Target value 5% / Target year FY2028, Indicator Expansion of drone operations / Target value 1,200 cases / Target year FY2028, Indicator Improvement in the quality improvement index / Target value +5 points year on year / Target year Each year, Indicator Prevention rate for intrusions and other incidents / Target value Not disclosed / Target year Each year, Indicator Number of customer expressions of appreciation / Target value Increase year on year / Target year Each year, Indicator HS contract retention rate / Target value At least 95% / Target year Each year, Indicator HS contract growth rate / Target value 12.40% / Target year Each year, Indicator Occupancy rate at designated facilities, fee-based homes for the elderly and housing-type facilities / Target value 93.50% / Target year Each year, Indicator GH occupancy rate / Target value 97.00% / Target year Each year, Indicator Productivity improvement through BPR / Target value 13,000 hours plus / Target year Fiscal 2026, Indicator Automated preparation of security reports / Target value Not disclosed / Target year FY2028, Indicator Internal audit implementation rate / Target value 100% / Target year Each year, Indicator Remediation rate for deficiencies identified in internal audits / Target value 100% / Target year Each year, Indicator Number of malware breaches / Target value Not disclosed / Target year Each year, Indicator Percentage of employees aged 40 or older who have not visited a medical institution / Target value 5% or less / Target year Each year, Indicator Percentage of managers holding job-related qualifications / Target value 100％ / Target year Each year, Indicator One-on-one meetings conducted by senior executives / Target value 100% implementation rate / Target year Each year, Indicator Harassment, human rights and other training / Target value 100% implementation rate / Target year Each year, Indicator Percentage of women in management positions / Target value 30% / Target year FY2028, Indicator Percentage of mid-career hires in management positions / Target value Maintain approximately 50% / Target year FY2028, Indicator Scope 1 and 2 CO2 emissions reduction / Target value 38% reduction from fiscal 2013 / Target year FY2028, Indicator Shipment rate of repaired products / Target value 11％ / Target year FY2028, Indicator Promotion of agreements with local governments and other entities / Target value Increase year on year / Target year Each year, Indicator Number of “Anshin Classroom” sessions held / Target value 2,800 sessions / Target year Each year, Indicator Support for the “Thank You” campaign / Target value Continue activities / Target year Each year
Size of the Target MarketMarket Total domestic elderly population / Figures 36,529 thousand; 37,480 thousand / Source National Institute of Population and Social Security Research, “Population Projections for Japan (national projections): Total elderly population (aged 65 and over)”, Market Nominal GDP of ASEAN / Figures 4,173 USD Billion、7,450 USD Billion / Source Calculated based on the IMF’s “World Economic Outlook” and the ADB’s country-specific real growth rate and inflation forecasts, Market Home mechanical security systems / Figures Approximately 3.4% penetration / Source National Police Agency, “Statistical Materials on Penal Code Offenses in 2024” and “Overview of the Security Business in 2024”; Ministry of Internal Affairs and Communications, “2023 Housing and Land Survey”
Risks identified by the company
COVID-19 pandemic
Delays in addressing the 3G network shutdown
Rising prices and higher costs
Labor shortages
Increasing risk of natural disasters
Aging buildings and facilities
Aging social infrastructure
Shift to Cashless Payments
Increase in cybercrime
Deterioration in perceived public safety due to robberies and other incidents
Reason for revision or withdrawal
During the COVID-19 pandemic, growth initiatives, including M&A, did not progress as scheduled, and five-year growth fell short of the initial assumptions. Delays in addressing the 3G network shutdown, resulting from the pandemic, and higher costs due to inflation caused the ordinary income margin for the fiscal year ending March 2026 to fall below the GD2025 target. Achievement of the initial assumptions is expected to be delayed by approximately 2 years.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan “ALSOK STAGE 2028” |
| Plan period | Three years from fiscal 2026 through fiscal 2028 (fiscal 2026–2028) |
| Progress against the plan | Formulated |
| Sales Target | 5,970 (actual for the fiscal year ending March 2026) → 6,800–7,500 (target for the fiscal year ending March 2029)（+13.9%～+25.6%） |
| ROE target | 9.2% (actual for the fiscal year ending March 2026) → Approximately 10% (target for the fiscal year ending March 2029)（+8.7% approximately） |
| Payout ratio / DOE policy | Aims to provide stable dividends based on a payout ratio of 40% to 50% (during the AS2028 period) |
| Treasury share acquisition policy | Will consider and implement flexible share repurchases and other measures in light of its financial position and market conditions |
| Investment amount by sector | Field Infrastructure investment, maintenance and renewals / Amount ¥30 billion / Period Covered AS2028 period, Field Growth Investment / Amount ¥90 billion–¥100 billion / Period Covered AS2028 period, Field M&A / Amount +α / Period Covered AS2028 period |
| Non-financial targets | Indicator Reduction in dispatches through lean operations / Target value Not disclosed / Target year FY2028, Indicator Improved inspection efficiency for alarm systems / Target value 15% reduction / Target year FY2028, Indicator Increase in the attach rate of rescue services / Target value 5% / Target year FY2028, Indicator Expansion of drone operations / Target value 1,200 cases / Target year FY2028, Indicator Improvement in the quality improvement index / Target value +5 points year on year / Target year Each year, Indicator Prevention rate for intrusions and other incidents / Target value Not disclosed / Target year Each year, Indicator Number of customer expressions of appreciation / Target value Increase year on year / Target year Each year, Indicator HS contract retention rate / Target value At least 95% / Target year Each year, Indicator HS contract growth rate / Target value 12.40% / Target year Each year, Indicator Occupancy rate at designated facilities, fee-based homes for the elderly and housing-type facilities / Target value 93.50% / Target year Each year, Indicator GH occupancy rate / Target value 97.00% / Target year Each year, Indicator Productivity improvement through BPR / Target value 13,000 hours plus / Target year Fiscal 2026, Indicator Automated preparation of security reports / Target value Not disclosed / Target year FY2028, Indicator Internal audit implementation rate / Target value 100% / Target year Each year, Indicator Remediation rate for deficiencies identified in internal audits / Target value 100% / Target year Each year, Indicator Number of malware breaches / Target value Not disclosed / Target year Each year, Indicator Percentage of employees aged 40 or older who have not visited a medical institution / Target value 5% or less / Target year Each year, Indicator Percentage of managers holding job-related qualifications / Target value 100％ / Target year Each year, Indicator One-on-one meetings conducted by senior executives / Target value 100% implementation rate / Target year Each year, Indicator Harassment, human rights and other training / Target value 100% implementation rate / Target year Each year, Indicator Percentage of women in management positions / Target value 30% / Target year FY2028, Indicator Percentage of mid-career hires in management positions / Target value Maintain approximately 50% / Target year FY2028, Indicator Scope 1 and 2 CO2 emissions reduction / Target value 38% reduction from fiscal 2013 / Target year FY2028, Indicator Shipment rate of repaired products / Target value 11％ / Target year FY2028, Indicator Promotion of agreements with local governments and other entities / Target value Increase year on year / Target year Each year, Indicator Number of “Anshin Classroom” sessions held / Target value 2,800 sessions / Target year Each year, Indicator Support for the “Thank You” campaign / Target value Continue activities / Target year Each year |
| Plan assumptions | Approximately 3.4% penetration of home mechanical security systems in the individual market, The total domestic elderly population is expected to increase from 36,529 thousand to 37,480 thousand, ASEAN nominal GDP is expected to expand from USD 4,173 billion to USD 7,450 billion, Population aging is expected to continue structurally, The operating environment includes rising prices, labor shortages, the shift to cashless payments, aging buildings and facilities, natural disasters, and an increase in cybercrime |
| Key initiatives | Business expansion through the development of growth markets, Expansion of service areas to address diverse risks, Promotion of BPR utilizing DX and AI, Promotion of measures to strengthen human capital, Strengthening sustainability initiatives |
| Results under the previous plan | 6,500 (target under Grand Design 2025) → 5,970 (actual for the fiscal year ending March 2026)（-8.2%） |
| Reason for revision or withdrawal | During the COVID-19 pandemic, growth initiatives, including M&A, did not progress as scheduled, and five-year growth fell short of the initial assumptions. Delays in addressing the 3G network shutdown, resulting from the pandemic, and higher costs due to inflation caused the ordinary income margin for the fiscal year ending March 2026 to fall below the GD2025 target. Achievement of the initial assumptions is expected to be delayed by approximately 2 years. |
| Size of the Target Market | Market Total domestic elderly population / Figures 36,529 thousand; 37,480 thousand / Source National Institute of Population and Social Security Research, “Population Projections for Japan (national projections): Total elderly population (aged 65 and over)”, Market Nominal GDP of ASEAN / Figures 4,173 USD Billion、7,450 USD Billion / Source Calculated based on the IMF’s “World Economic Outlook” and the ADB’s country-specific real growth rate and inflation forecasts, Market Home mechanical security systems / Figures Approximately 3.4% penetration / Source National Police Agency, “Statistical Materials on Penal Code Offenses in 2024” and “Overview of the Security Business in 2024”; Ministry of Internal Affairs and Communications, “2023 Housing and Land Survey” |
| Risks identified | COVID-19 pandemic, Delays in addressing the 3G network shutdown, Rising prices and higher costs, Labor shortages, Increasing risk of natural disasters, Aging buildings and facilities, Aging social infrastructure, Shift to Cashless Payments, Increase in cybercrime, Deterioration in perceived public safety due to robberies and other incidents |
| Publication date | 13 May 2026 |
Items this document does not state (9)
Operating profit targetOperating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetDate 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.Under the previous plan, growth initiatives, including M&A, did not progress as scheduled due to the COVID-19 pandemic, while delays in addressing the 3G network shutdown and higher costs resulting from inflation caused the ordinary income margin to fall short of the target. At the same time, taking into account the recovery in demand for security services, the rapid advancement of AI and DX, population aging and the expansion of overseas markets, ALSOK has established five pillars for the new plan: developing growth markets, expanding service areas, DX and AI, human capital, and sustainability.
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