Worth reading
67In focus
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales-26.3%
基準 2,025Target1,493million
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. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Key initiatives
01Pursue higher customer spend per account through the upselling of multiple services, beginning with the introduction of demand response (DR) support services
02Accelerate service and system development for next-generation (second-generation) smart meters
03Expand the business through alliances in the corporate sector
04Expand the business through alliances in Europe
05Expand from the United Kingdom into other European regions
Plan assumptionsNext-generation (second-generation) smart meters will be installed sequentially from 2026, The number of households with residents aged 65 or over will be approximately 15 million in 2030, Data will be provided to an average of 1.5 companies for 10% of households within the Tokyo Electric Power Grid service area, at an assumed price of ¥100 per month, An estimate based on a service price of ¥10 per month per connection when using next-generation smart meters, with a target market of 60 million connections, The European heat pump market is expected to grow at a CAGR of 10% from 2023 to 2030
Non-financial targetsIndicator name Implementation at small and medium-sized offices / Target value Approximately 46,000 companies / Timing Not disclosed, Indicator name Implementation at restaurants and other establishments / Target value Approximately 30,000 establishments / Timing Not disclosed, Indicator name Coverage of households with elderly residents / Target value 10% of households nationwide / Timing Not disclosed
Size of the Target MarketMarket All households in Japan / Scale Approximately 60.78 million households / Timing As of 1 January 2024 / Source Ministry of Internal Affairs and Communications, "Population, Population Dynamics and Number of Households Based on the Basic Resident Register, Document 2", Market Low-voltage connections in the Tokyo Electric Power Grid service area / Scale Approximately 29 million connections / Timing Not disclosed / Source Calculated based on the number of households in the one metropolitan area and eight prefectures within the Tokyo Electric Power Grid service area. Ministry of Internal Affairs and Communications, "2023 Population, Population Dynamics and Number of Households Based on the Basic Resident Register", Market United Kingdom heat pump market / Scale Approximately 600,000 units installed annually from 2019 to 2022 / Timing Actual results for 2019–2022 / Source UK National Audit Office, "Decarbonising home heating", Market European heat pump market / Scale 23 million units in 2023, 45 million units in 2030, CAGR of 10% / Timing 2019–2030 / Source European Heat Pump Association『European Heat Pump Market and Statistics Report 2023』
| Item | Details |
|---|---|
| Progress against the plan | Annual update |
| Sales Target | 530 (consolidated revenue for the fiscal year ended December 2025) → 1,493 (reproduced from the medium-term management plan) |
| Non-financial targets | Indicator name Implementation at small and medium-sized offices / Target value Approximately 46,000 companies / Timing Not disclosed, Indicator name Implementation at restaurants and other establishments / Target value Approximately 30,000 establishments / Timing Not disclosed, Indicator name Coverage of households with elderly residents / Target value 10% of households nationwide / Timing Not disclosed |
| Plan assumptions | Next-generation (second-generation) smart meters will be installed sequentially from 2026, The number of households with residents aged 65 or over will be approximately 15 million in 2030, Data will be provided to an average of 1.5 companies for 10% of households within the Tokyo Electric Power Grid service area, at an assumed price of ¥100 per month, An estimate based on a service price of ¥10 per month per connection when using next-generation smart meters, with a target market of 60 million connections, The European heat pump market is expected to grow at a CAGR of 10% from 2023 to 2030 |
| Key initiatives | Pursue higher customer spend per account through the upselling of multiple services, beginning with the introduction of demand response (DR) support services, Accelerate service and system development for next-generation (second-generation) smart meters, Expand the business through alliances in the corporate sector, Expand the business through alliances in Europe, Expand from the United Kingdom into other European regions |
| Size of the Target Market | Market All households in Japan / Scale Approximately 60.78 million households / Timing As of 1 January 2024 / Source Ministry of Internal Affairs and Communications, "Population, Population Dynamics and Number of Households Based on the Basic Resident Register, Document 2", Market Low-voltage connections in the Tokyo Electric Power Grid service area / Scale Approximately 29 million connections / Timing Not disclosed / Source Calculated based on the number of households in the one metropolitan area and eight prefectures within the Tokyo Electric Power Grid service area. Ministry of Internal Affairs and Communications, "2023 Population, Population Dynamics and Number of Households Based on the Basic Resident Register", Market United Kingdom heat pump market / Scale Approximately 600,000 units installed annually from 2019 to 2022 / Timing Actual results for 2019–2022 / Source UK National Audit Office, "Decarbonising home heating", Market European heat pump market / Scale 23 million units in 2023, 45 million units in 2030, CAGR of 10% / Timing 2019–2030 / Source European Heat Pump Association『European Heat Pump Market and Statistics Report 2023』 |
| Publication date | 27 March 2026 |
Items this document does not state (18)
Plan namePlan periodOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetResults under the previous planReason for revision or withdrawalRisks identifiedDate 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.Revenue declined in the fiscal year ended December 2025 due to the termination of a major customer contract, while the proportion of recurring revenue increased as transactions with high cost burdens decreased. Going forward, growth is expected to be driven by an increase in contracts for performance-based DR offerings, upselling multiple services, next-generation smart meter-related services and higher revenue from services for the European market.
How to read this page
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