Worth reading
67In 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
1400
¥ million (ordinary profit target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+7.0%
基準 50,000Target53,500million
ROE-2,016.0pt
基準 2,026Target10%
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 plan¥1.5 billion in consolidated ordinary profit → Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe company’s basic policy is to pay stable and sustainable dividends, with a focus on shareholder returns that balance corporate growth. Specific numerical targets and the applicable period for the payout ratio and DOE are not disclosed.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 will flexibly consider share buybacks, taking into comprehensive consideration its financial condition, progress in growth investments and the status of improvements in capital efficiency.
Self-assessment of PBR and share priceThe company will compare its valuation indicators, including PBR and PER, with industry averages and implement measures to enhance corporate value. It has set a numerical target of PBR ≥ 1x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthen the business structure to respond quickly to market changes.
02Differentiate the company by improving its proposals for new solutions.
03Practice management with a focus on the cost of capital and enhance corporate value through management decisions that prioritize ROE.
04Pursue sustainable growth through sustainability initiatives.
05Expand sales of high-value-added memory and storage products, respond to market conditions relating to edge AI, and strengthen foundry partnerships.
06Strengthen proposal capabilities for high-resolution, slim displays and expand into the medical and commercial fields.
07Expand sales of AI server equipment, strengthen technology solutions in the communications field, and launch new businesses in electronic equipment and EMS.
08Strengthen expansion into grid-connected power fields, including renewable energy, and enhance proposal capabilities for total solutions centered on batteries as the core offering.
09Improve operational efficiency by strengthening digital capabilities for internal business processes.
10Strengthen the information security infrastructure and obtain certifications.
11Promote proactive IT initiatives by integrating and utilizing various types of internal data.
12Systematically develop candidates for next-generation executive and management positions.
13Strengthen the skills mix through new hiring, primarily of mid-career employees.
14Under the basic policy of stable dividends, flexibly consider implementing share buybacks.
Plan assumptionsThe plan is not premised on achieving ¥1.5 billion in ordinary profit in any specific fiscal year., The plan takes into account a recovery in market conditions and rising prices, primarily for memory products.
Segment targetSegment Semiconductor Products / Net Sales 26,103 actual for the fiscal year ended March 2026, 30,600 forecast for the fiscal year ending March 2027, 31,500 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Display Products / Net Sales 7,461 actual for the fiscal year ended March 2026, 6,900 forecast for the fiscal year ending March 2027, 7,500 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Systems Products / Net Sales 7,710 actual for the fiscal year ended March 2026, 11,000 forecast for the fiscal year ending March 2027, 11,000 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Battery & Power Equipment / Net Sales 1,254 actual for the fiscal year ended March 2026, 1,100 forecast for the fiscal year ending March 2027, 3,000 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed
Risks identified by the company
Market condition risk
Strategic Risk
Operational risk
Actual results and other outcomes may differ from those described due to various factors in the future.
Reason for revision or withdrawal
The timing for achieving the ¥1.5 billion consolidated ordinary profit target set in the previous medium-term management plan was postponed by 1 year. At the same time, the earnings structure reforms underlying this change have made steady progress, and the quality of earnings has clearly improved through improvements in the profit structure centered on growth fields and a review of the business portfolio.
| Item | Details |
|---|---|
| Plan name | Third Medium-Term Management Plan |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Formulated |
| Sales Target | 42,812 (actual for the fiscal year ended March 2026) / 50,000 (forecast for the fiscal year ending March 2027) → 53,500 (target for the fiscal year ending March 2029)（+7.7%（26/3～29/3 CAGR）） |
| ROE target | 4.7% (actual for the fiscal year ended March 2026) → 10.0% or higher (Third Medium-Term Management Plan) |
| Payout ratio / DOE policy | The company’s basic policy is to pay stable and sustainable dividends, with a focus on shareholder returns that balance corporate growth. Specific numerical targets and the applicable period for the payout ratio and DOE are not disclosed. |
| Treasury share acquisition policy | The company will flexibly consider share buybacks, taking into comprehensive consideration its financial condition, progress in growth investments and the status of improvements in capital efficiency. |
| Self-assessment of PBR and share price | The company will compare its valuation indicators, including PBR and PER, with industry averages and implement measures to enhance corporate value. It has set a numerical target of PBR ≥ 1x. |
| Segment target | Segment Semiconductor Products / Net Sales 26,103 actual for the fiscal year ended March 2026, 30,600 forecast for the fiscal year ending March 2027, 31,500 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Display Products / Net Sales 7,461 actual for the fiscal year ended March 2026, 6,900 forecast for the fiscal year ending March 2027, 7,500 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Systems Products / Net Sales 7,710 actual for the fiscal year ended March 2026, 11,000 forecast for the fiscal year ending March 2027, 11,000 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed, Segment Battery & Power Equipment / Net Sales 1,254 actual for the fiscal year ended March 2026, 1,100 forecast for the fiscal year ending March 2027, 3,000 target for the fiscal year ending March 2029 (¥ million) / Profit Not disclosed |
| Plan assumptions | The plan is not premised on achieving ¥1.5 billion in ordinary profit in any specific fiscal year., The plan takes into account a recovery in market conditions and rising prices, primarily for memory products. |
| Key initiatives | Strengthen the business structure to respond quickly to market changes., Differentiate the company by improving its proposals for new solutions., Practice management with a focus on the cost of capital and enhance corporate value through management decisions that prioritize ROE., Pursue sustainable growth through sustainability initiatives., Expand sales of high-value-added memory and storage products, respond to market conditions relating to edge AI, and strengthen foundry partnerships., Strengthen proposal capabilities for high-resolution, slim displays and expand into the medical and commercial fields., Expand sales of AI server equipment, strengthen technology solutions in the communications field, and launch new businesses in electronic equipment and EMS., Strengthen expansion into grid-connected power fields, including renewable energy, and enhance proposal capabilities for total solutions centered on batteries as the core offering., Improve operational efficiency by strengthening digital capabilities for internal business processes., Strengthen the information security infrastructure and obtain certifications., Promote proactive IT initiatives by integrating and utilizing various types of internal data., Systematically develop candidates for next-generation executive and management positions., Strengthen the skills mix through new hiring, primarily of mid-career employees., Under the basic policy of stable dividends, flexibly consider implementing share buybacks. |
| Results under the previous plan | ¥1.5 billion in consolidated ordinary profit → Not disclosed |
| Reason for revision or withdrawal | The timing for achieving the ¥1.5 billion consolidated ordinary profit target set in the previous medium-term management plan was postponed by 1 year. At the same time, the earnings structure reforms underlying this change have made steady progress, and the quality of earnings has clearly improved through improvements in the profit structure centered on growth fields and a review of the business portfolio. |
| Risks identified | Market condition risk, Strategic Risk, Operational risk, Actual results and other outcomes may differ from those described due to various factors in the future. |
| Date of board resolution | 13 May 2026 |
| Publication date | 13 May 2026 |
Items this document does not state (9)
Operating profit targetOperating profit margin targetNet income targetROIC targetCost of capitalTotal investment planInvestment amount by sectorNon-financial targetsSize 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.Although the timing for achieving the ¥1.5 billion ordinary profit target under the previous medium-term management plan was postponed by 1 year, earnings structure reforms have made steady progress, and the quality of earnings has improved through improvements in the profit structure centered on growth fields and a review of the business portfolio.
How to read this page
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