Worth reading
22Immaterial
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
80
Tens of billions of yen (total appraised value of owned real estate)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Statements about the use of capital
Payout ratio / DOE policyBroad consideration of measures to improve capital efficiency, including enhancing shareholder returns (no numerical targets or target period stated)The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceMarket capitalization is below equity attributable to owners of the Company on the balance sheet, and the price-to-book ratio is low. The current share price is ¥210, while the Company estimates substantive net assets per share at approximately ¥415, putting the share price at approximately 51% of substantive net assets.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Maximizing cash on hand by shifting to experiential commerce (spending on experiences)
02Participation in the Yokosuka City Otaki-cho 1-chome District Redevelopment Project
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Payout ratio / DOE policy | Broad consideration of measures to improve capital efficiency, including enhancing shareholder returns (no numerical targets or target period stated) |
| Self-assessment of PBR and share price | Market capitalization is below equity attributable to owners of the Company on the balance sheet, and the price-to-book ratio is low. The current share price is ¥210, while the Company estimates substantive net assets per share at approximately ¥415, putting the share price at approximately 51% of substantive net assets. |
| Key initiatives | Maximizing cash on hand by shifting to experiential commerce (spending on experiences), Participation in the Yokosuka City Otaki-cho 1-chome District Redevelopment Project |
| Publication date | 2 June 2026 |
Items this document does not state (20)
Plan periodProgress against the planSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planReason for revision or withdrawalSize of the Target MarketRisks 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.In light of the significant gap between the market value of the Company, as reflected in its share price and market capitalization, and the substantive net asset value recognized by the Company, to realize the value of its assets and achieve an appropriate market valuation.
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.