Worth reading
64In 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
245
¥100 million (FY2032 net sales target)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedROE+7.0pt
基準 2,025Target2,032%
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).
Net SalesNot disclosed → FY2032: ¥24.5 billion
Only the target level is shown because the current level for comparison was not provided.Total investment plan¥5 billion in growth strategy investments and ¥1 billion in existing investments (FY2026–FY2028)
Investment amount by sectorField Domestic investment / Amount ¥3 billion / Details M&A to expand domestic market share and sales channels, and investments to strengthen domestic production capabilities, Field Overseas Investment / Amount ¥1.2bn / Details Investments to establish local operations and local manufacturing, Field Productivity enhancement and systems investments / Amount ¥800 million / Details Workplace improvements to enhance productivity, human capital investments including base-pay increases, and investments in DX and AI, Field Existing investments / Amount ¥1 billion / Details Not disclosed
Statements about the use of capital
Payout ratio / DOE policyTotal payout ratio of 60% (dividends plus share buybacks), FY2026–FY2028The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyShare buybacks of ¥1.5 billion during FY2026–FY2028. The Company will target shareholder returns of at least ¥3 billion and a total payout ratio of 60%.
Cost of capitalCost of equity of approximately 4–5% (calculated based on the CAPM)The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR is below 1x. PBR was 0.93x in FY2025. The Company recognizes the importance of further enhancing corporate value.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Domestic strategy
02Overseas strategy
03VC (value chain) strategy
04Steady execution of the 3 strategies for achieving the long-term vision
05Implement growth strategy investments
06Reducing Cross-Shareholdings
07Utilization of Owned Assets
08Shareholder Returns
09Expand information disclosure
10Strengthen dialogue with investors
11Consider a benefit program for long-term shareholders
12Board Effectiveness Evaluation
13Optimize the Company’s cross-shareholdings
14Increase the percentages of outside directors and female directors
15Increase the number of directors who are Audit and Supervisory Committee members
Segment targetSegment Domestic household-use products / Sales Target ¥11 billion / Profit Target Not disclosed / Timing FY2032, Segment Domestic commercial-use products / Sales Target ¥7.2 billion / Profit Target Not disclosed / Timing FY2032, Segment Overseas Business / Sales Target ¥6.3 billion / Profit Target Not disclosed / Timing FY2032
Non-financial targetsIndicator Percentage of outside directors / Target value 43％⇒50％ / Timing From June 2026, Indicator Percentage of female directors / Target value 29％⇒38％ / Timing From June 2026
Risks identified by the company
Actual results and other outcomes may differ significantly due to various factors
Reason for revision or withdrawal
To achieve sustainable growth despite rapid changes in the operating environment. To improve ROE and PER in order to raise PBR.
| Item | Details |
|---|---|
| Plan name | Long-Term Vision “Bull-Dog Global Innovation 2032” |
| Plan period | FY2026–FY2032 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → FY2032: ¥24.5 billion |
| ROE target | FY2025 actual: 10.5% (ROE excluding extraordinary gains: 3.8%) → 5% in FY2028, 8% in FY2032 |
| Payout ratio / DOE policy | Total payout ratio of 60% (dividends plus share buybacks), FY2026–FY2028 |
| Treasury share acquisition policy | Share buybacks of ¥1.5 billion during FY2026–FY2028. The Company will target shareholder returns of at least ¥3 billion and a total payout ratio of 60%. |
| Cost of capital | Cost of equity of approximately 4–5% (calculated based on the CAPM) |
| Self-assessment of PBR and share price | PBR is below 1x. PBR was 0.93x in FY2025. The Company recognizes the importance of further enhancing corporate value. |
| Total investment plan | ¥5 billion in growth strategy investments and ¥1 billion in existing investments (FY2026–FY2028) |
| Investment amount by sector | Field Domestic investment / Amount ¥3 billion / Details M&A to expand domestic market share and sales channels, and investments to strengthen domestic production capabilities, Field Overseas Investment / Amount ¥1.2bn / Details Investments to establish local operations and local manufacturing, Field Productivity enhancement and systems investments / Amount ¥800 million / Details Workplace improvements to enhance productivity, human capital investments including base-pay increases, and investments in DX and AI, Field Existing investments / Amount ¥1 billion / Details Not disclosed |
| Segment target | Segment Domestic household-use products / Sales Target ¥11 billion / Profit Target Not disclosed / Timing FY2032, Segment Domestic commercial-use products / Sales Target ¥7.2 billion / Profit Target Not disclosed / Timing FY2032, Segment Overseas Business / Sales Target ¥6.3 billion / Profit Target Not disclosed / Timing FY2032 |
| Non-financial targets | Indicator Percentage of outside directors / Target value 43％⇒50％ / Timing From June 2026, Indicator Percentage of female directors / Target value 29％⇒38％ / Timing From June 2026 |
| Key initiatives | Domestic strategy, Overseas strategy, VC (value chain) strategy, Steady execution of the 3 strategies for achieving the long-term vision, Implement growth strategy investments, Reducing Cross-Shareholdings, Utilization of Owned Assets, Shareholder Returns, Expand information disclosure, Strengthen dialogue with investors, Consider a benefit program for long-term shareholders, Board Effectiveness Evaluation, Optimize the Company’s cross-shareholdings, Increase the percentages of outside directors and female directors, Increase the number of directors who are Audit and Supervisory Committee members |
| Reason for revision or withdrawal | To achieve sustainable growth despite rapid changes in the operating environment. To improve ROE and PER in order to raise PBR. |
| Risks identified | Actual results and other outcomes may differ significantly due to various factors |
| Date of board resolution | 21 August 2026 |
| Publication date | 21 August 2026 |
Items this document does not state (7)
Operating profit targetOperating profit margin targetNet income targetROIC targetPlan assumptionsResults under the previous planSize of the Target Market
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 achieve sustainable growth despite rapid changes in the operating environment. The Company also aims to improve ROE and PER to raise PBR, strengthen its relationship of trust with the market through enhanced IR activities and governance, reduce its cost of capital and improve PER.
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.
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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.