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
12
ROE (fiscal 2030, %)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+4.0pt
基準 2,026Target2,030%
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).
Net SalesNot disclosed → ¥25.0 billion (fiscal 2030)
Operating profitNot disclosed → ¥5.0 billion (fiscal 2030)
Net income for the current fiscal yearNot disclosed → ¥3.8 billion (fiscal 2030)
Only the target level is shown because the current level for comparison was not provided.Total investment planGrowth investment of ¥11.0 billion (cumulative over 5 years)
Investment amount by sectorField Growth Investment / Amount ¥11 billion
Statements about the use of capital
Payout ratio / DOE policyShareholder returns of ¥5.5 billion (cumulative over 5 years)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 policyIntroduce a share-based compensation plan for directors and officers and a share-delivery plan for employees, using treasury shares
Cost of capitalEstimated cost of shareholders’ equity of 6.0–8.0% based on the company’s calculations; approximately 10.0% from investors’ perspectiveThe cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR recovered to 0.81x but remains below 1.0x. PER is 9.1x, below the wholesale industry’s standard PER of 10.0xPBR is a measure of how many times the share price is the book value per share.
Key initiatives
01❶ Improve profitability
02❷ Improve capital efficiency
03❸ Strengthen dialogue with investors
04❹ Strengthen governance
05Formulate and implement the Medium-Term Management Plan 2026-2030
06Execute M&A as a growth strategy
07Building strategic partnerships
08Reduce assets
09Improve the efficiency of group financing
10Formulate a cash allocation policy
Non-financial targetsIndicator Number of attendees (viewers) at briefings for individual investors / Target value 300 (expected) / Timing Scheduled for February 2027
Risks identified by the company
Liquidity Risk
Legal and other risks
Information Security Risk
Reason for revision or withdrawal
Updated the previous Medium-Term Management Plan and formulated this plan under the theme “Dynamic Capability 2.0.” The objective is to improve profitability, capital efficiency, market valuation and governance in order to achieve a PBR above 1x
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2026-2030 |
| Plan period | Fiscal years 2026–2030 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → ¥25.0 billion (fiscal 2030) |
| Operating profit target | Not disclosed → ¥5.0 billion (fiscal 2030) |
| Net income target | Not disclosed → ¥3.8 billion (fiscal 2030) |
| ROE target | 8.9% (actual for the fiscal year ended March 2026) → At least 12.0% (fiscal 2030) |
| Payout ratio / DOE policy | Shareholder returns of ¥5.5 billion (cumulative over 5 years) |
| Treasury share acquisition policy | Introduce a share-based compensation plan for directors and officers and a share-delivery plan for employees, using treasury shares |
| Cost of capital | Estimated cost of shareholders’ equity of 6.0–8.0% based on the company’s calculations; approximately 10.0% from investors’ perspective |
| Self-assessment of PBR and share price | PBR recovered to 0.81x but remains below 1.0x. PER is 9.1x, below the wholesale industry’s standard PER of 10.0x |
| Total investment plan | Growth investment of ¥11.0 billion (cumulative over 5 years) |
| Investment amount by sector | Field Growth Investment / Amount ¥11 billion |
| Non-financial targets | Indicator Number of attendees (viewers) at briefings for individual investors / Target value 300 (expected) / Timing Scheduled for February 2027 |
| Key initiatives | ❶ Improve profitability, ❷ Improve capital efficiency, ❸ Strengthen dialogue with investors, ❹ Strengthen governance, Formulate and implement the Medium-Term Management Plan 2026-2030, Execute M&A as a growth strategy, Building strategic partnerships, Reduce assets, Improve the efficiency of group financing, Formulate a cash allocation policy |
| Reason for revision or withdrawal | Updated the previous Medium-Term Management Plan and formulated this plan under the theme “Dynamic Capability 2.0.” The objective is to improve profitability, capital efficiency, market valuation and governance in order to achieve a PBR above 1x |
| Risks identified | Liquidity Risk, Legal and other risks, Information Security Risk |
| Date of board resolution | 31 August 2026 |
| Publication date | 4 September 2026 |
Items this document does not state (6)
Operating profit margin targetROIC targetSegment targetPlan assumptionsResults under the previous planSize 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 aims to improve profitability, capital efficiency and market valuation through the optimal allocation of management resources across its business areas, scale expansion through M&A and other measures, improved capital efficiency through asset reduction and the use of a cash management system (CMS), stronger dialogue with investors, sustainability management, and enhanced group governance.
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.