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
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+3.7%
基準 2,410Target2,500100 million
Operating profit+0.0%
基準 2,027Target2,028100 million
ROE+1.0pt
基準 2,027Target2,028%
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 plan500 (total growth investment under the Medium-Term Management Plan) → 421 (actual investment for the fiscal years ended February 2024 to February 2026)（84% (progress)）+305.2%Calculated from the two disclosed figures
Total investment plan¥50.0 billion (total growth investment under the Medium-Term Management Plan)
Investment amount by sectorField Strategic growth investment (including plant reorganization) / Amount ¥42.1 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Operation of new plants / Amount ¥39.2 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Other / Amount ¥2.9 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Maintenance and replacement investment, etc. / Amount ¥10.1 billion (actual investment for the fiscal years ended February 2024 to February 2026)
Statements about the use of capital
Payout ratio / DOE policyStable and sustained dividends based on a target dividend payout ratio of 40%. Applicable period: Not disclosed. Annual dividend per share for the fiscal year ended February 2026 was ¥120.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of equity of approximately 6–7%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceROE has improved to a level exceeding the assumed cost of equity, but this has not been fully reflected in the market valuation. PBR was 1.00x at the end of the fiscal year ended February 2026 and is currently below 1x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Improving Profitability
02Shareholder Returns
03Use of interest-bearing debt
04Investor relations activities
05Sustainability Strategy
Non-financial targetsIndicator name GHG Emissions / Target value 24% reduction / Timing Fiscal 2025 (versus fiscal 2018), Indicator name GHG Emissions / Target value 50% reduction / Timing Fiscal 2030 (versus fiscal 2018)
Risks identified by the company
Actual results may differ from the forward-looking statements due to changes in various assumptions and conditions.
Reason for revision or withdrawal
The Company reviewed the content announced on 9 July 2024 and made a decision today.
| Item | Details |
|---|---|
| Plan name | Current medium-term management plan |
| Plan period | Fiscal years ending February 2024 to February 2028 |
| Progress against the plan | Partially revised |
| Sales Target | 2,410 (forecast for the fiscal year ending February 2027) → 2,500 (target for the fiscal year ending February 2028) |
| Operating profit target | 77 (forecast for the fiscal year ending February 2027) → 100 (target for the fiscal year ending February 2028) |
| ROE target | 7.9% (forecast for the fiscal year ending February 2027) → At least 10.0% (target for the fiscal year ending February 2028) |
| Payout ratio / DOE policy | Stable and sustained dividends based on a target dividend payout ratio of 40%. Applicable period: Not disclosed. Annual dividend per share for the fiscal year ended February 2026 was ¥120. |
| Cost of capital | Cost of equity of approximately 6–7% |
| Self-assessment of PBR and share price | ROE has improved to a level exceeding the assumed cost of equity, but this has not been fully reflected in the market valuation. PBR was 1.00x at the end of the fiscal year ended February 2026 and is currently below 1x. |
| Total investment plan | ¥50.0 billion (total growth investment under the Medium-Term Management Plan) |
| Investment amount by sector | Field Strategic growth investment (including plant reorganization) / Amount ¥42.1 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Operation of new plants / Amount ¥39.2 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Other / Amount ¥2.9 billion (actual investment for the fiscal years ended February 2024 to February 2026), Field Maintenance and replacement investment, etc. / Amount ¥10.1 billion (actual investment for the fiscal years ended February 2024 to February 2026) |
| Non-financial targets | Indicator name GHG Emissions / Target value 24% reduction / Timing Fiscal 2025 (versus fiscal 2018), Indicator name GHG Emissions / Target value 50% reduction / Timing Fiscal 2030 (versus fiscal 2018) |
| Key initiatives | Improving Profitability, Shareholder Returns, Use of interest-bearing debt, Investor relations activities, Sustainability Strategy |
| Results under the previous plan | 500 (total growth investment under the Medium-Term Management Plan) → 421 (actual investment for the fiscal years ended February 2024 to February 2026)（84% (progress)） |
| Reason for revision or withdrawal | The Company reviewed the content announced on 9 July 2024 and made a decision today. |
| Risks identified | Actual results may differ from the forward-looking statements due to changes in various assumptions and conditions. |
| Date of board resolution | 27 May 2026 |
| Publication date | 27 May 2026 |
Items this document does not state (7)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policySegment targetPlan assumptionsSize 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.The Company reviewed the content announced on 9 July 2024 and made a decision today.
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.