Worth reading
45Recurring
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
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Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedWhat happened to the previous planNot disclosed → As of Fiscal year ended April 2026 results / Net Sales ¥8,289 million / Net income for the current fiscal year ¥138 million / ROE 2.0%
Investment amount by sectorField New fields in the protective clothing and environmental equipment business (new protective clothing and safety and environmental facilities) / Amount Not disclosed, Field Healthcare products business / Amount Not disclosed, Field Supply chain diversification (expansion of the Vietnamese subsidiary) / Amount Not disclosed, Field Business investment and human capital investment / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe policy is to prioritize continuous and stable dividends while gradually increasing dividend payments over the long term. Numerical targets and the applicable period 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.
Self-assessment of PBR and share pricePBR for the fiscal year ending April 2026 was 0.53x and the share price was ¥638. Although the share price has remained stable, it has stayed at a low level. The Company assesses that its growth strategy has not produced results in the form of higher sales and has not led to an increase in the share price.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthen the business of “protecting people and the environment” and contribute to the realization of a safe society
02Strengthen the アゼアス brand and improve the ability to address customer issues through DX
03Build an attractive corporate group and become a company chosen by stakeholders
04Improve business performance through the steady execution of the medium-term management plan
05Enhance briefings and IR information
06Increase dividend payments
Risks identified by the company
Weak net profit margins due to factors driving higher costs
Revenue declines due to the decline following the pullback in demand for infection-control measures
Volatility in earnings and the share price affected by the business environment
Profit contributions from new business areas remain under development
Reason for revision or withdrawal
The next medium-term management plan identifies as a key issue the fact that the previous medium-term plan’s growth strategy, centered on investment in the safety-related business and strengthening manufacturing capabilities, did not contribute to the recovery in business performance. In light of the fact that profit margins and sales have not progressed as initially expected, as well as higher costs and the decline following the pullback in demand for infection-control measures, the Company will implement improvement measures under the new plan.
| Item | Details |
|---|---|
| Plan name | Next Stage 2026 Action Plan |
| Plan period | May 2026 to the fiscal year ending April 2029 |
| Progress against the plan | Partially revised |
| Payout ratio / DOE policy | The policy is to prioritize continuous and stable dividends while gradually increasing dividend payments over the long term. Numerical targets and the applicable period are not disclosed. |
| Self-assessment of PBR and share price | PBR for the fiscal year ending April 2026 was 0.53x and the share price was ¥638. Although the share price has remained stable, it has stayed at a low level. The Company assesses that its growth strategy has not produced results in the form of higher sales and has not led to an increase in the share price. |
| Investment amount by sector | Field New fields in the protective clothing and environmental equipment business (new protective clothing and safety and environmental facilities) / Amount Not disclosed, Field Healthcare products business / Amount Not disclosed, Field Supply chain diversification (expansion of the Vietnamese subsidiary) / Amount Not disclosed, Field Business investment and human capital investment / Amount Not disclosed |
| Key initiatives | Strengthen the business of “protecting people and the environment” and contribute to the realization of a safe society, Strengthen the アゼアス brand and improve the ability to address customer issues through DX, Build an attractive corporate group and become a company chosen by stakeholders, Improve business performance through the steady execution of the medium-term management plan, Enhance briefings and IR information, Increase dividend payments |
| Results under the previous plan | Not disclosed → As of Fiscal year ended April 2026 results / Net Sales ¥8,289 million / Net income for the current fiscal year ¥138 million / ROE 2.0% |
| Reason for revision or withdrawal | The next medium-term management plan identifies as a key issue the fact that the previous medium-term plan’s growth strategy, centered on investment in the safety-related business and strengthening manufacturing capabilities, did not contribute to the recovery in business performance. In light of the fact that profit margins and sales have not progressed as initially expected, as well as higher costs and the decline following the pullback in demand for infection-control measures, the Company will implement improvement measures under the new plan. |
| Risks identified | Weak net profit margins due to factors driving higher costs, Revenue declines due to the decline following the pullback in demand for infection-control measures, Volatility in earnings and the share price affected by the business environment, Profit contributions from new business areas remain under development |
| Publication date | 27 July 2026 |
Items this document does not state (14)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planSegment targetNon-financial targetsPlan assumptionsSize of the Target MarketDate 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.The growth strategy under the previous medium-term plan, centered on investment in the safety-related business and strengthening manufacturing capabilities, did not contribute to the recovery in business performance, and profit margins and sales have not progressed as initially expected. The Company cites higher costs and the decline following the pullback in demand for infection-control measures, and plans to invest in new fields and healthcare products, diversify its supply chain and strengthen branded products under the new plan.
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