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How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+1.6%
基準 377Target383Hundreds of millions of yen
Operating profit-13.0%
基準 27Target23.5Hundreds of millions of yen
Net income for the current fiscal year-15.3%
基準 27.4Target23.2Hundreds of millions of yen
ROE-1.2pt
基準 9.2Target8％
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 planRevenue of at least ¥391.0 billion, operating profit of at least ¥18.6 billion, net income of at least ¥15.6 billion, ROE of at least 8.0%, and shareholder returns of approximately 30.0% → Revenue of ¥377.0 billion, operating profit of ¥27.0 billion, net income of ¥27.4 billion, ROE of 9.2%, and shareholder returns of 27.6%（Revenue: 96.4%; operating profit: 145.3%; net income: 175.8%; ROE: 115.5%; shareholder returns: 92.0%）-3.6%Calculated from the two disclosed figures
Investment amount by sectorField Capital Expenditure / Amount Not disclosed, Field DX / Amount Not disclosed, Field Research and development / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe target payout ratio is approximately 30.0% (three-year average), calculated by excluding gains and losses arising from nonrecurring special factors from net income. The target total payout ratio is approximately 50.0% (three-year average). The minimum annual dividend per share during the plan period is ¥35. The DOE target is 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 specific amount, timing and conditions for share repurchases are not disclosed. The approximately 50.0% target total payout ratio includes the amount spent on share repurchases.
Key initiatives
01Strengthen ambidextrous management
02“Kawada-specific” technology development
03Advance sustainability management
04Deepen capital efficiency and enhance shareholder returns
05Business Portfolio Reform
06Accelerate the development of labor-saving and labor-efficiency technologies through construction and robotics
07Develop businesses based on three pillars: new construction, maintenance and the private sector
08Adopt new technologies, including AI, DX and GX
09Enter new markets
10Pass on skills, including suspension-bridge technology
11Improve productivity through DX
12Further build the brand as a fabricator capable of erecting structures
13Expand environmentally friendly products
14Strengthen initiatives to develop human resources
15Strengthen capabilities in renewal and maintenance businesses
16Strengthen the development of proprietary products and construction methods
17Strengthen capabilities from design through erection of private-sector PC and precast-concrete products
18Increase human resources through recruitment and development
19Create value in buildings through technical proposals
20Build the foundation for DX
21Further enhance equipment design capabilities
22Expand by developing the public infrastructure market
23Roll out support solutions for project owners
24Build platforms for the CAD and cloud businesses
25Expand the scope of application in contract design
26Improve the completeness of application packages
27Strengthen production, quality and service systems
28Build a system to expand robot sales
29Develop next-generation machines compatible with the three-product industries
30Build a system to expand sales of the welding monitoring system “C-LUM”
31Sell products developed through research and development, including EG Guide and Nuri-suke
32Develop new businesses through the use of data and AI
33Accelerate initiatives toward carbon neutrality
34Take the first step toward addressing natural capital and biodiversity
35Expansion of human capital management
36Promote management that respects human rights
37Strengthen initiatives that contribute to enhancing corporate value
38Strengthen the management monitoring system
Plan assumptionsAlthough the order value and ordered tonnage for steel bridge projects are both trending downward, a major project, the Nishinobu section, is scheduled to be ordered., Demand for steel-frame construction remains sluggish in both the Tokyo metropolitan and Kansai regions., Orders for new prestressed-concrete bridges are trending downward, while orders from expressway companies have declined substantially., Demand remains firm for medium- and large-scale single-story and two-story warehouses and large multistory logistics facilities., The Ministry of Land, Infrastructure, Transport and Tourism's DX policies will continue to advance., Demand for robots is increasing because of labor shortages., Labor and material costs will continue to trend upward.
Segment targetSegment Steel Structures Segment / Sales Target ¥55.5 billion in fiscal 2026, ¥53.0 billion in fiscal 2027, and ¥57.0 billion in fiscal 2028 / Operating profit target ¥2.6 billion in fiscal 2026, ¥4.2 billion in fiscal 2027, and ¥4.5 billion in fiscal 2028, Segment Civil Engineering Segment / Sales Target ¥33.0 billion in fiscal 2026, ¥34.0 billion in fiscal 2027, and ¥34.0 billion in fiscal 2028 / Operating profit target ¥1.8 billion in fiscal 2026, ¥1.9 billion in fiscal 2027, and ¥2.0 billion in fiscal 2028, Segment Architecture Segment / Sales Target ¥19.5 billion in fiscal 2026, ¥20.0 billion in fiscal 2027, and ¥20.0 billion in fiscal 2028 / Operating profit target ¥1.2 billion in fiscal 2026, ¥1.3 billion in fiscal 2027, and ¥1.3 billion in fiscal 2028, Segment Solutions segment / Sales Target ¥8.7 billion in fiscal 2026, ¥10.0 billion in fiscal 2027, and ¥11.0 billion in fiscal 2028 / Operating profit target ¥3.0 billion in fiscal 2026, ¥3.4 billion in fiscal 2027, and ¥3.9 billion in fiscal 2028
Non-financial targetsIndicator Scope 1 emissions / Target value 12,830t-CO2 / Timing Fiscal 2030 (8% reduction from fiscal 2022), Indicator Scope 2 emissions / Target value 0t-CO2 / Timing Fiscal 2030 (100% reduction from fiscal 2022), Indicator Scope 3, Category 1 emissions / Target value 343,794t-CO2 / Timing Fiscal 2030 (25% reduction from fiscal 2023), Indicator Nature positive / Target value Actual reduction / Timing By 2030, Indicator Serious human rights violations / Target value 0 (zero) / Timing Not disclosed
Size of the Target MarketThe market size, growth rate and sources are not disclosed. The market environment described includes declining order value and ordered tonnage for steel bridges, continued sluggish demand for steel frames, a downward trend in orders for new prestressed-concrete bridges, continued progress in software-related DX policies, and rising demand for robots.
Risks identified by the company
Declining birthrate and aging population / decline in Japan's working-age population
Aging social infrastructure
More severe disasters caused by climate change
Advances in digital technology
Work-style reform / diversity
Global supply-chain disruption
Sustainability Management
Corporate governance requirements
Growing market focus on capital efficiency
Aging construction workers and a shortage of successors
Continued upward trend in labor and material costs
Reason for revision or withdrawal
Based on the achievements and issues under the Third Medium-Term Management Plan, the company recognizes that it is essential to identify and develop its firm strengths in preparation for an increasingly uncertain business environment and create value unique to 川田.
| Item | Details |
|---|---|
| Plan name | Fourth Medium-Term Management Plan |
| Plan period | Three years from fiscal 2026 through fiscal 2028 |
| Progress against the plan | Formulated |
| Sales Target | ¥377.0 billion (actual results under the Third Medium-Term Management Plan, cumulative three-year total) → At least ¥383.0 billion (cumulative three-year total) |
| Operating profit target | ¥27.0 billion (actual results under the Third Medium-Term Management Plan, cumulative three-year total) → At least ¥23.5 billion (cumulative three-year total) |
| Net income target | ¥27.4 billion (actual results under the Third Medium-Term Management Plan, cumulative three-year total) → At least ¥23.2 billion (cumulative three-year total) |
| ROE target | 9.2% (actual results under the Third Medium-Term Management Plan, final year) → At least 8.0% (final year) |
| Payout ratio / DOE policy | The target payout ratio is approximately 30.0% (three-year average), calculated by excluding gains and losses arising from nonrecurring special factors from net income. The target total payout ratio is approximately 50.0% (three-year average). The minimum annual dividend per share during the plan period is ¥35. The DOE target is not disclosed. |
| Treasury share acquisition policy | The specific amount, timing and conditions for share repurchases are not disclosed. The approximately 50.0% target total payout ratio includes the amount spent on share repurchases. |
| Investment amount by sector | Field Capital Expenditure / Amount Not disclosed, Field DX / Amount Not disclosed, Field Research and development / Amount Not disclosed |
| Segment target | Segment Steel Structures Segment / Sales Target ¥55.5 billion in fiscal 2026, ¥53.0 billion in fiscal 2027, and ¥57.0 billion in fiscal 2028 / Operating profit target ¥2.6 billion in fiscal 2026, ¥4.2 billion in fiscal 2027, and ¥4.5 billion in fiscal 2028, Segment Civil Engineering Segment / Sales Target ¥33.0 billion in fiscal 2026, ¥34.0 billion in fiscal 2027, and ¥34.0 billion in fiscal 2028 / Operating profit target ¥1.8 billion in fiscal 2026, ¥1.9 billion in fiscal 2027, and ¥2.0 billion in fiscal 2028, Segment Architecture Segment / Sales Target ¥19.5 billion in fiscal 2026, ¥20.0 billion in fiscal 2027, and ¥20.0 billion in fiscal 2028 / Operating profit target ¥1.2 billion in fiscal 2026, ¥1.3 billion in fiscal 2027, and ¥1.3 billion in fiscal 2028, Segment Solutions segment / Sales Target ¥8.7 billion in fiscal 2026, ¥10.0 billion in fiscal 2027, and ¥11.0 billion in fiscal 2028 / Operating profit target ¥3.0 billion in fiscal 2026, ¥3.4 billion in fiscal 2027, and ¥3.9 billion in fiscal 2028 |
| Non-financial targets | Indicator Scope 1 emissions / Target value 12,830t-CO2 / Timing Fiscal 2030 (8% reduction from fiscal 2022), Indicator Scope 2 emissions / Target value 0t-CO2 / Timing Fiscal 2030 (100% reduction from fiscal 2022), Indicator Scope 3, Category 1 emissions / Target value 343,794t-CO2 / Timing Fiscal 2030 (25% reduction from fiscal 2023), Indicator Nature positive / Target value Actual reduction / Timing By 2030, Indicator Serious human rights violations / Target value 0 (zero) / Timing Not disclosed |
| Plan assumptions | Although the order value and ordered tonnage for steel bridge projects are both trending downward, a major project, the Nishinobu section, is scheduled to be ordered., Demand for steel-frame construction remains sluggish in both the Tokyo metropolitan and Kansai regions., Orders for new prestressed-concrete bridges are trending downward, while orders from expressway companies have declined substantially., Demand remains firm for medium- and large-scale single-story and two-story warehouses and large multistory logistics facilities., The Ministry of Land, Infrastructure, Transport and Tourism's DX policies will continue to advance., Demand for robots is increasing because of labor shortages., Labor and material costs will continue to trend upward. |
| Key initiatives | Strengthen ambidextrous management, “Kawada-specific” technology development, Advance sustainability management, Deepen capital efficiency and enhance shareholder returns, Business Portfolio Reform, Accelerate the development of labor-saving and labor-efficiency technologies through construction and robotics, Develop businesses based on three pillars: new construction, maintenance and the private sector, Adopt new technologies, including AI, DX and GX, Enter new markets, Pass on skills, including suspension-bridge technology, Improve productivity through DX, Further build the brand as a fabricator capable of erecting structures, Expand environmentally friendly products, Strengthen initiatives to develop human resources, Strengthen capabilities in renewal and maintenance businesses, Strengthen the development of proprietary products and construction methods, Strengthen capabilities from design through erection of private-sector PC and precast-concrete products, Increase human resources through recruitment and development, Create value in buildings through technical proposals, Build the foundation for DX, Further enhance equipment design capabilities, Expand by developing the public infrastructure market, Roll out support solutions for project owners, Build platforms for the CAD and cloud businesses, Expand the scope of application in contract design, Improve the completeness of application packages, Strengthen production, quality and service systems, Build a system to expand robot sales, Develop next-generation machines compatible with the three-product industries, Build a system to expand sales of the welding monitoring system “C-LUM”, Sell products developed through research and development, including EG Guide and Nuri-suke, Develop new businesses through the use of data and AI, Accelerate initiatives toward carbon neutrality, Take the first step toward addressing natural capital and biodiversity, Expansion of human capital management, Promote management that respects human rights, Strengthen initiatives that contribute to enhancing corporate value, Strengthen the management monitoring system |
| Results under the previous plan | Revenue of at least ¥391.0 billion, operating profit of at least ¥18.6 billion, net income of at least ¥15.6 billion, ROE of at least 8.0%, and shareholder returns of approximately 30.0% → Revenue of ¥377.0 billion, operating profit of ¥27.0 billion, net income of ¥27.4 billion, ROE of 9.2%, and shareholder returns of 27.6%（Revenue: 96.4%; operating profit: 145.3%; net income: 175.8%; ROE: 115.5%; shareholder returns: 92.0%） |
| Reason for revision or withdrawal | Based on the achievements and issues under the Third Medium-Term Management Plan, the company recognizes that it is essential to identify and develop its firm strengths in preparation for an increasingly uncertain business environment and create value unique to 川田. |
| Size of the Target Market | The market size, growth rate and sources are not disclosed. The market environment described includes declining order value and ordered tonnage for steel bridges, continued sluggish demand for steel frames, a downward trend in orders for new prestressed-concrete bridges, continued progress in software-related DX policies, and rising demand for robots. |
| Risks identified | Declining birthrate and aging population / decline in Japan's working-age population, Aging social infrastructure, More severe disasters caused by climate change, Advances in digital technology, Work-style reform / diversity, Global supply-chain disruption, Sustainability Management, Corporate governance requirements, Growing market focus on capital efficiency, Aging construction workers and a shortage of successors, Continued upward trend in labor and material costs |
| Publication date | 12 May 2026 |
Items this document does not state (6)
Operating profit margin targetROIC targetCost of capitalSelf-assessment of PBR and share priceTotal investment planDate 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.Based on the achievements and remaining management issues under the Third Medium-Term Management Plan, the company will identify its firm strengths in preparation for an increasingly uncertain business environment and create value unique to 川田.
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