Worth reading
82Important
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
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedROE targetNot disclosed → Aims to continuously improve ROE and PBRROE is the percentage of profit generated from money provided by shareholders.
Investment amount by sectorField Growth investment, including funds reserved for future investment / Amount Approximately ¥23.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Existing investments / Amount Approximately ¥14.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Infrastructure investment / Amount Approximately ¥5.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Dedicated powder roux production line (new building at the Ueda Plant) / Amount Approximately ¥8.0–9.0 billion / Timing New building scheduled for completion in 2028, Field Thailand Plant / Amount Approximately ¥3.5–4.0 billion / Timing Building scheduled for completion in November 2026; operations scheduled to begin in the second half of fiscal 2027
Statements about the use of capital
Payout ratio / DOE policyThe medium- to long-term target is a total payout ratio of 35%. The target consolidated dividend payout ratio for the fiscal year ending March 2029 is at least 20%. Applicable periods: the medium to long term and the fiscal year ending March 2029.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 plans to conduct share repurchases flexibly. The amount, timing, and terms of the repurchases are Not disclosed.
Cost of capitalAssumed cost of shareholders’ equity (CAPM): approximately 7–9%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 share price began to trend upward over the past 3 years, and PBR improved to above 1.0x as of the end of the fiscal year ending March 2026. The company aims to maintain and improve PBR going forward.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Business strategy (domestic business)
02Business strategy (overseas business)
03Financial strategy (capital policy)
04Financial strategy (cash allocation for the fiscal years ending March 2027 through March 2029)
05Strengthening IR and SR
Plan assumptionsForeign exchange The projected performance of the overseas business includes the impact of foreign exchange movements. Specific exchange rates are Not disclosed. / Market Growth Rate Not disclosed
Segment targetSegment Overseas Business / Sales Target ¥21,000 million (fiscal year ending March 2029, Fourth Medium-Term Management Plan target); ¥32,000 million (fiscal year ending March 2033, Management Strategy target) / Overseas revenue ratio 14.8% (fiscal year ending March 2029); 20.8% (fiscal year ending March 2033) / Profit Target Not disclosed
Size of the Target MarketMarket Domestic instant roux market (curry roux, stew, and hashed beef roux) / Dimensions Presented in a graph; unit: ¥100 million (individual figures are Not disclosed) / Growth rate Not disclosed / Source Intage SRI+ (retail sales data) / Period Covered April 2021 to March 2026
Reason for revision or withdrawal
The company reassessed and analyzed the current situation and updated its specific initiatives. It aims to maximize the enhancement of corporate value by focusing on capital costs and share price, and to continuously improve ROE and PBR.
| Item | Details |
|---|---|
| Plan name | Initiatives to Realize Management That Is Conscious of Capital Costs and Share Price / Fourth Medium-Term Management Plan / Management Strategy 2033 |
| Plan period | Fiscal years ending March 2027 to March 2033 (Management Strategy 2033); fiscal years ending March 2027 to March 2029 (Fourth Medium-Term Management Plan) |
| Progress against the plan | Partially revised |
| ROE target | Not disclosed → Aims to continuously improve ROE and PBR |
| Payout ratio / DOE policy | The medium- to long-term target is a total payout ratio of 35%. The target consolidated dividend payout ratio for the fiscal year ending March 2029 is at least 20%. Applicable periods: the medium to long term and the fiscal year ending March 2029. |
| Treasury share acquisition policy | The company plans to conduct share repurchases flexibly. The amount, timing, and terms of the repurchases are Not disclosed. |
| Cost of capital | Assumed cost of shareholders’ equity (CAPM): approximately 7–9% |
| Self-assessment of PBR and share price | The share price began to trend upward over the past 3 years, and PBR improved to above 1.0x as of the end of the fiscal year ending March 2026. The company aims to maintain and improve PBR going forward. |
| Investment amount by sector | Field Growth investment, including funds reserved for future investment / Amount Approximately ¥23.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Existing investments / Amount Approximately ¥14.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Infrastructure investment / Amount Approximately ¥5.0 billion / Period Covered Fiscal years ending March 2027 through March 2029, Field Dedicated powder roux production line (new building at the Ueda Plant) / Amount Approximately ¥8.0–9.0 billion / Timing New building scheduled for completion in 2028, Field Thailand Plant / Amount Approximately ¥3.5–4.0 billion / Timing Building scheduled for completion in November 2026; operations scheduled to begin in the second half of fiscal 2027 |
| Segment target | Segment Overseas Business / Sales Target ¥21,000 million (fiscal year ending March 2029, Fourth Medium-Term Management Plan target); ¥32,000 million (fiscal year ending March 2033, Management Strategy target) / Overseas revenue ratio 14.8% (fiscal year ending March 2029); 20.8% (fiscal year ending March 2033) / Profit Target Not disclosed |
| Plan assumptions | Foreign exchange The projected performance of the overseas business includes the impact of foreign exchange movements. Specific exchange rates are Not disclosed. / Market Growth Rate Not disclosed |
| Key initiatives | Business strategy (domestic business), Business strategy (overseas business), Financial strategy (capital policy), Financial strategy (cash allocation for the fiscal years ending March 2027 through March 2029), Strengthening IR and SR |
| Reason for revision or withdrawal | The company reassessed and analyzed the current situation and updated its specific initiatives. It aims to maximize the enhancement of corporate value by focusing on capital costs and share price, and to continuously improve ROE and PBR. |
| Size of the Target Market | Market Domestic instant roux market (curry roux, stew, and hashed beef roux) / Dimensions Presented in a graph; unit: ¥100 million (individual figures are Not disclosed) / Growth rate Not disclosed / Source Intage SRI+ (retail sales data) / Period Covered April 2021 to March 2026 |
| Date of board resolution | 22 May 2026 |
| Publication date | 22 May 2026 |
Items this document does not state (9)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTotal investment planNon-financial targetsResults under the previous planRisks 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.To maximize the enhancement of corporate value by focusing on capital costs and share price, and to continuously improve ROE and PBR. The stated reasons and objectives include addressing the assumed cost of shareholders’ equity based on dialogue with investors and others, pursuing a sustainable growth strategy, enhancing shareholder returns, and continuously strengthening IR and SR.
How to read this page
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