Worth reading
62In focus
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
130
¥ millionWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet income for the current fiscal year-93.6%
基準 2,026Target130million
ROE-2,011.0pt
基準 2,026Target15%
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.
Net Sales6,336 (actual for the fiscal year ended March 2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet sales: ¥500.0 billion; net income: ¥6.0 billion; ROE: 10% → Net sales: ¥633.6 billion; net income: ¥10.0 billion; ROE: 18.4% (actual for the fiscal year ended March 2026)（Net sales: +26.7%; net income: +66.7%; ROE: +84.0%）+305.2%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyThe company will set a dividend floor of ¥300 per share and aims for a dividend payout ratio of 40% for the fiscal year ending March 2029. The dividend floor will apply to the fiscal years ending March 2027 through March 2029.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Optimization of the portfolio by application
02Strengthening growth applications (server and storage)
03Strengthening growth applications (automotive)
04Supplying products and services aligned with customer needs
05Expanding overseas operations by optimizing the regional portfolio
06Strengthening capabilities to propose AI solutions
07Human Capital Strategy
08Financial strategy (cash allocation)
09Financial strategy (shareholder returns policy)
Plan assumptionsDemand for memory, the company’s core product, is expected to continue growing relatively steadily., Global demand for data-center-related products is expected to grow substantially through 2030 (CAGR: 13%; source: OMDIA)., Global demand for automotive-related products is expected to grow substantially through 2029 (CAGR: 13%; source: OMDIA)., The AI market is forecast to grow at a CAGR of 19% (prepared by the company based on an article published in Business+IT by SB Creative Corp.).
Segment targetSegment Server and Storage / Indicator Sales target / Target CAGR12% / Period Fiscal years ending March 2026 to March 2029, Segment Automotive / Indicator Sales target / Target CAGR25% / Period Fiscal years ending March 2026 to March 2029
Size of the Target MarketData-center-related products CAGR: 13%; global demand is expected to grow substantially through 2030. Source: OMDIA / Automotive-Related Products CAGR: 13%; global demand is expected to grow substantially through 2029. Source: OMDIA / AI market CAGR: 19%. Prepared by the company based on an article published in Business+IT by SB Creative Corp. / Semiconductor memory demand Demand trends from 2020 through 2030 are shown in billions of U.S. dollars. Source: Semiconductor Technology Supply Chain Intelligence
Risks identified by the company
Rise of Chinese local products
Unstable international conditions
Impact on related national and regional markets from the progress of U.S.-China decoupling
Decline in Japan’s working-age population
Transition to a decarbonized society
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2028 |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Formulated |
| Sales Target | 6,336 (actual for the fiscal year ended March 2026) → Not disclosed |
| Net income target | 100 (actual for the fiscal year ended March 2026) → ¥130 million（+30.0%） |
| ROE target | 18.4% (actual for the fiscal year ended March 2026) → 15% (on a stable basis)（-18.5%） |
| Payout ratio / DOE policy | The company will set a dividend floor of ¥300 per share and aims for a dividend payout ratio of 40% for the fiscal year ending March 2029. The dividend floor will apply to the fiscal years ending March 2027 through March 2029. |
| Segment target | Segment Server and Storage / Indicator Sales target / Target CAGR12% / Period Fiscal years ending March 2026 to March 2029, Segment Automotive / Indicator Sales target / Target CAGR25% / Period Fiscal years ending March 2026 to March 2029 |
| Plan assumptions | Demand for memory, the company’s core product, is expected to continue growing relatively steadily., Global demand for data-center-related products is expected to grow substantially through 2030 (CAGR: 13%; source: OMDIA)., Global demand for automotive-related products is expected to grow substantially through 2029 (CAGR: 13%; source: OMDIA)., The AI market is forecast to grow at a CAGR of 19% (prepared by the company based on an article published in Business+IT by SB Creative Corp.). |
| Key initiatives | Optimization of the portfolio by application, Strengthening growth applications (server and storage), Strengthening growth applications (automotive), Supplying products and services aligned with customer needs, Expanding overseas operations by optimizing the regional portfolio, Strengthening capabilities to propose AI solutions, Human Capital Strategy, Financial strategy (cash allocation), Financial strategy (shareholder returns policy) |
| Results under the previous plan | Net sales: ¥500.0 billion; net income: ¥6.0 billion; ROE: 10% → Net sales: ¥633.6 billion; net income: ¥10.0 billion; ROE: 18.4% (actual for the fiscal year ended March 2026)（Net sales: +26.7%; net income: +66.7%; ROE: +84.0%） |
| Size of the Target Market | Data-center-related products CAGR: 13%; global demand is expected to grow substantially through 2030. Source: OMDIA / Automotive-Related Products CAGR: 13%; global demand is expected to grow substantially through 2029. Source: OMDIA / AI market CAGR: 19%. Prepared by the company based on an article published in Business+IT by SB Creative Corp. / Semiconductor memory demand Demand trends from 2020 through 2030 are shown in billions of U.S. dollars. Source: Semiconductor Technology Supply Chain Intelligence |
| Risks identified | Rise of Chinese local products, Unstable international conditions, Impact on related national and regional markets from the progress of U.S.-China decoupling, Decline in Japan’s working-age population, Transition to a decarbonized society |
| Publication date | 24 April 2026 |
Items this document does not state (11)
Operating profit targetOperating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsReason for revision or withdrawalDate 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.The company aims to accelerate efforts in growth areas and value creation, building on its competitive advantages as a Samsung distributor. It also explained that, while memory demand is expected to expand, the uncertain business environment is likely to continue, making it necessary to enhance corporate value by identifying changes and flexibly revising its strategy.
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.