Worth reading
87Important
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
600
¥100 million (FY2028 business profit)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+11.1%
基準 8,732Target9,700million
Operating profit+0.1%
基準 2,025Target2,028million
ROE+3.0pt
基準 2,025Target2,028%
ROIC+3.0pt
基準 2,025Target2,028%
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 plan390 (FY2025 plan; business profit) → 258 (FY2025 actual; business profit)0.0%Calculated from the two disclosed figures
Total investment planApproximately ¥185-190 billion (business investments)
Investment amount by sectorField Infrastructure investment / Amount Approximately ¥130 billion
Statements about the use of capital
Payout ratio / DOE policyThe basic policy is to maintain stable dividends, with a dividend of ¥50 planned for FY2026. From FY2027 onward, Teijin will consider introducing DOE and aims to raise the DOE level through profitable growth and improved ROE. The applicable period is FY2026 and FY2027 onward.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 priceTeijin will build the foundation for a reassessment of its low PBR and aims to achieve a PBR of at least 1x at an early stage by improving ROE and increasing the likelihood of achieving the Medium-Term Management Plan.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Achieve reliable profit growth through customer-driven businesses
02Establish a high-quality earnings base through structural reforms
03Strengthen the management platform supporting customer-driven businesses
04Realize synergies from management integration with Asahi Kasei Advance at an early stage and promote horizontal integration
05Develop new home healthcare products and services, starting with the expansion of the platform through collaboration and M&A
06Enhance the ability to propose solutions to customer issues
07Pursue a niche-top strategy
08Accelerate the transformation from a materials-focused organization to one focused on customers and applications
09Leverage the existing network and roll out the business model horizontally
10Review the cost structure and reorganize the production system
11Focus on high-value-added applications
12Focus on the aircraft business
13Accelerate the focus on rare and intractable diseases
14Company-wide cost reductions
15Technology Strategy
16DX/AX strategy
17Human Capital
Plan assumptionsThe para-aramid market is expected to grow at approximately 4% annually, while oversupply will continue., Air passenger demand is expected to continue growing., The supply-demand gap for carbon fiber will widen, and selling prices in recreational and industrial applications are expected to continue declining., The automotive, semiconductor and medical fields are expected to continue growing steadily, driven by electrification, digitalization and higher functionality., PFAS regulations will be tightened in Europe., Action will be required in response to policies aimed at restraining insurance expenditures.
Segment targetSegment Apparel & Industrial Products (textiles and products) / FY2025 actual Revenue ¥350.1 billion / Business profit ¥17.1 billion / ROIC 8% / FY2028 medium-term target Revenue ¥490.0 billion / Business profit ¥22 billion / ROIC 8%, Segment Healthcare & Life Solutions (healthcare) / FY2025 actual Revenue ¥138.6 billion / Business profit ¥13.4 billion / ROIC 7% / FY2028 medium-term target Revenue ¥105 billion / Business profit ¥15 billion / ROIC 12%, Segment Electronics & Energy (resins, battery and semiconductor solutions) / FY2025 actual Revenue ¥149.9 billion / Business profit ¥18.9 billion / ROIC 16% / FY2028 medium-term target Revenue ¥170 billion / Business profit ¥19.0 billion / ROIC 16%, Segment Specialty Materials (aramid, carbon fiber and composite molding materials) / FY2025 actual Revenue ¥212.8 billion / Business profit -¥9 billion / ROIC Not disclosed / FY2028 medium-term target Revenue ¥185 billion / Business profit ¥17.0 billion / ROIC 6%, Segment Other / FY2025 actual Revenue ¥21.9 billion / Business profit -¥14.7 billion / ROIC Not disclosed / FY2028 medium-term target Revenue ¥20 billion / Business profit -¥13.0 billion / ROIC Not disclosed, Segment Consolidated total / FY2025 actual Revenue ¥873.2 billion / Business profit ¥25.8 billion / ROIC 2.6% / FY2028 medium-term target Revenue ¥970.0 billion / Business profit ¥60 billion / ROIC 5%
Non-financial targetsIndicator Group GHG emissions (Scope 1 + 2) / Target 30% reduction versus FY2018 / Timing FY2030, Indicator Group GHG emissions (Scope 1 + 2) / Target Achieve net zero / Timing FY2050, Indicator Supply-chain GHG emissions (Scope 3, Category 1) / Target 15% reduction versus FY2018 / Timing FY2030, Indicator Emissions reduction contribution / Target Total GHG emissions < emissions reduction contribution / Timing FY2030, Indicator Percentage of sales from products with calculated carbon footprints / Target Increase to 70% / Timing FY2030, Indicator Freshwater withdrawal intensity per sales / Target 30% improvement versus FY2018 / Timing FY2030, Indicator Hazardous chemical emissions intensity per sales / Target 20% improvement versus FY2018 / Timing FY2030, Indicator Overall occupational accident frequency rate / Target Maintain at 1.0 or below / Timing Not disclosed, Indicator Number of people supported in receiving care in familiar surroundings / Target Set an internal management target / Timing Not disclosed, Indicator Employee engagement score / Target 68 / Timing April 2030, Indicator Proportion of Female Officers / Target 30％ / Timing April 2030, Indicator Percentage of non-Japanese officers / Target 30％ / Timing April 2030, Indicator Percentage of female department and section managers / Target 20％ / Timing April 2030, Indicator Number of co-creation projects / Target 8 or more locations / Timing Fiscal 2026
Size of the Target MarketThe para-aramid market is growing at approximately 4% annually. The market size in monetary terms and the source are not disclosed.
Risks identified by the company
Acceleration in the commoditization of materials
A phase requiring a review of the capital expenditure-led business model
Population decline, rising labor costs and inflows of Chinese products in Japan's textile industry
Continued oversupply in the aramid market
Deterioration in the supply-demand balance for PC resins and intensifying competition in general-purpose applications
Tightening of PFAS regulations in Europe
Policies aimed at restraining insurance expenditures
Widening supply-demand gap and declining selling prices for carbon fiber
Reason for revision or withdrawal
The medium-term numerical targets were not achieved, partly due to changes in the operating environment for materials businesses. Profitability has not yet fully recovered amid changes in market conditions, and Teijin is implementing fundamental structural reforms in its aramid, carbon fiber and pharmaceutical businesses without being bound by past strategies.
| Item | Details |
|---|---|
| Plan name | Teijin Group Medium-Term Management Plan 2026-2028 |
| Plan period | 2026-2028 |
| Progress against the plan | Formulated |
| Sales Target | 8,732 (FY2025 actual) → 9,700 (FY2028 medium-term target) |
| Operating profit target | 258 (FY2025 actual; business profit) → 600 (FY2028 medium-term target; business profit) |
| ROE target | -22% (FY2025 actual) → 8% (FY2028 medium-term target) |
| ROIC target | 2.6% (FY2025 actual) → 5% (FY2028 medium-term target) |
| Payout ratio / DOE policy | The basic policy is to maintain stable dividends, with a dividend of ¥50 planned for FY2026. From FY2027 onward, Teijin will consider introducing DOE and aims to raise the DOE level through profitable growth and improved ROE. The applicable period is FY2026 and FY2027 onward. |
| Self-assessment of PBR and share price | Teijin will build the foundation for a reassessment of its low PBR and aims to achieve a PBR of at least 1x at an early stage by improving ROE and increasing the likelihood of achieving the Medium-Term Management Plan. |
| Total investment plan | Approximately ¥185-190 billion (business investments) |
| Investment amount by sector | Field Infrastructure investment / Amount Approximately ¥130 billion |
| Segment target | Segment Apparel & Industrial Products (textiles and products) / FY2025 actual Revenue ¥350.1 billion / Business profit ¥17.1 billion / ROIC 8% / FY2028 medium-term target Revenue ¥490.0 billion / Business profit ¥22 billion / ROIC 8%, Segment Healthcare & Life Solutions (healthcare) / FY2025 actual Revenue ¥138.6 billion / Business profit ¥13.4 billion / ROIC 7% / FY2028 medium-term target Revenue ¥105 billion / Business profit ¥15 billion / ROIC 12%, Segment Electronics & Energy (resins, battery and semiconductor solutions) / FY2025 actual Revenue ¥149.9 billion / Business profit ¥18.9 billion / ROIC 16% / FY2028 medium-term target Revenue ¥170 billion / Business profit ¥19.0 billion / ROIC 16%, Segment Specialty Materials (aramid, carbon fiber and composite molding materials) / FY2025 actual Revenue ¥212.8 billion / Business profit -¥9 billion / ROIC Not disclosed / FY2028 medium-term target Revenue ¥185 billion / Business profit ¥17.0 billion / ROIC 6%, Segment Other / FY2025 actual Revenue ¥21.9 billion / Business profit -¥14.7 billion / ROIC Not disclosed / FY2028 medium-term target Revenue ¥20 billion / Business profit -¥13.0 billion / ROIC Not disclosed, Segment Consolidated total / FY2025 actual Revenue ¥873.2 billion / Business profit ¥25.8 billion / ROIC 2.6% / FY2028 medium-term target Revenue ¥970.0 billion / Business profit ¥60 billion / ROIC 5% |
| Non-financial targets | Indicator Group GHG emissions (Scope 1 + 2) / Target 30% reduction versus FY2018 / Timing FY2030, Indicator Group GHG emissions (Scope 1 + 2) / Target Achieve net zero / Timing FY2050, Indicator Supply-chain GHG emissions (Scope 3, Category 1) / Target 15% reduction versus FY2018 / Timing FY2030, Indicator Emissions reduction contribution / Target Total GHG emissions < emissions reduction contribution / Timing FY2030, Indicator Percentage of sales from products with calculated carbon footprints / Target Increase to 70% / Timing FY2030, Indicator Freshwater withdrawal intensity per sales / Target 30% improvement versus FY2018 / Timing FY2030, Indicator Hazardous chemical emissions intensity per sales / Target 20% improvement versus FY2018 / Timing FY2030, Indicator Overall occupational accident frequency rate / Target Maintain at 1.0 or below / Timing Not disclosed, Indicator Number of people supported in receiving care in familiar surroundings / Target Set an internal management target / Timing Not disclosed, Indicator Employee engagement score / Target 68 / Timing April 2030, Indicator Proportion of Female Officers / Target 30％ / Timing April 2030, Indicator Percentage of non-Japanese officers / Target 30％ / Timing April 2030, Indicator Percentage of female department and section managers / Target 20％ / Timing April 2030, Indicator Number of co-creation projects / Target 8 or more locations / Timing Fiscal 2026 |
| Plan assumptions | The para-aramid market is expected to grow at approximately 4% annually, while oversupply will continue., Air passenger demand is expected to continue growing., The supply-demand gap for carbon fiber will widen, and selling prices in recreational and industrial applications are expected to continue declining., The automotive, semiconductor and medical fields are expected to continue growing steadily, driven by electrification, digitalization and higher functionality., PFAS regulations will be tightened in Europe., Action will be required in response to policies aimed at restraining insurance expenditures. |
| Key initiatives | Achieve reliable profit growth through customer-driven businesses, Establish a high-quality earnings base through structural reforms, Strengthen the management platform supporting customer-driven businesses, Realize synergies from management integration with Asahi Kasei Advance at an early stage and promote horizontal integration, Develop new home healthcare products and services, starting with the expansion of the platform through collaboration and M&A, Enhance the ability to propose solutions to customer issues, Pursue a niche-top strategy, Accelerate the transformation from a materials-focused organization to one focused on customers and applications, Leverage the existing network and roll out the business model horizontally, Review the cost structure and reorganize the production system, Focus on high-value-added applications, Focus on the aircraft business, Accelerate the focus on rare and intractable diseases, Company-wide cost reductions, Technology Strategy, DX/AX strategy, Human Capital |
| Results under the previous plan | 390 (FY2025 plan; business profit) → 258 (FY2025 actual; business profit) |
| Reason for revision or withdrawal | The medium-term numerical targets were not achieved, partly due to changes in the operating environment for materials businesses. Profitability has not yet fully recovered amid changes in market conditions, and Teijin is implementing fundamental structural reforms in its aramid, carbon fiber and pharmaceutical businesses without being bound by past strategies. |
| Size of the Target Market | The para-aramid market is growing at approximately 4% annually. The market size in monetary terms and the source are not disclosed. |
| Risks identified | Acceleration in the commoditization of materials, A phase requiring a review of the capital expenditure-led business model, Population decline, rising labor costs and inflows of Chinese products in Japan's textile industry, Continued oversupply in the aramid market, Deterioration in the supply-demand balance for PC resins and intensifying competition in general-purpose applications, Tightening of PFAS regulations in Europe, Policies aimed at restraining insurance expenditures, Widening supply-demand gap and declining selling prices for carbon fiber |
| Publication date | 11 May 2026 |
Items this document does not state (5)
Operating profit margin targetNet income targetTreasury share acquisition policyCost of capitalDate 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.Teijin believes that its materials-driven business model has reached an impasse due to the commoditization of materials and the increasing complexity of social issues. It will shift to customer-driven businesses and restore and improve profitability through structural reforms and the strengthening of its management platform. Another reason is that the previous Medium-Term Management Plan failed to meet its medium-term numerical targets, partly due to changes in the operating environment for materials businesses.
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