Worth reading
78Important
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
350
¥10 billion (revenue target for the fiscal year ending March 2031)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+73.8%
基準 20,138Target35,000million (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031)
Operating profit+54.1%
基準 2,271Target3,500million (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031)
Operating profit margin-1.3pt
基準 11.3Target10% (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031)
ROE+2.9pt
基準 9.1Target12% (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031)
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 20,000 / Operating profit 2,400 → Revenue 20,138 / Operating profit 2,488（Revenue Up 0.7% (calculated value) / Operating profit Up 3.7% (calculated value)）
Total investment planGrowth investments of ¥6.0 billion to ¥9.0 billion during the new medium-term management plan period
Investment amount by sectorField M&A / Amount ¥4.0 billion to ¥6.0 billion, Field Rental asset investments / Amount ¥1.2bn, Field Facilities and renewal investments / Amount ¥500 million to ¥1.0 billion, Field DX, research and development, and human capital investments / Amount ¥500 million to ¥1.0 billion
Statements about the use of capital
Payout ratio / DOE policyThe Company will implement progressive dividends with an annual dividend of ¥32 as the floor. It intends to continue paying progressive dividends that do not fall below the previous year's dividend. The applicable period is the duration of the new medium-term management plan.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 that contribute to improving capital efficiency, while taking into account the balance with growth investments. No repurchase limit, specific timing, or terms have been disclosed.
Self-assessment of PBR and share priceAs of the fiscal year ending March 2026, the PBR is approximately 0.7x (0.65x in the chart), and is assessed as remaining below 1x. The Company aims to achieve a PBR of at least 1.0x or above 1.0x at an early stage.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthening the Profitability of Existing Businesses
02Create new growth drivers
03Strengthen the management foundation with a focus on capital efficiency
04Adopt a strategy specializing in infrastructure and maintenance
05Promote the development of products that are lighter and easier to install
06Develop and promote the adoption of high-value-added products and services
07Concentrate sales resources in priority areas
08Strengthen proposals for infrastructure and large-scale renovation projects
09Expand the range of newly handled products
10Develop new customers by leveraging construction services
11Strengthen the framework for bundled orders through group-wide sales
12Improve customer convenience through bundled proposals combining materials and rental services
13Expand the earnings base through rental investments
14Achieve high quality and shorter construction periods by expanding the in-house construction structure
15Deploy dedicated sales personnel with a focus on priority areas
16Expand the nationwide coverage of construction services by utilizing group locations
17Strengthen asset management with a focus on utilization rates
18Accelerate consultative sales of high-value-added products, including customized products
19Thoroughly strengthen repeat and replacement proposals for existing customers
20Develop new products and expand the lineup to address automation and labor-saving needs
21Expand the business scope from materials sales to logistics optimization consulting
22Create growth opportunities through M&A and new businesses
23Optimize capital allocation and reform the business portfolio
24Strengthening the Group's Management Foundation
25Develop and secure human resources
26Measure CO2 emissions and respond to exhaust gas regulations
27Enhance shareholder returns
28Engage proactively in dialogue with investors
Plan assumptionsConstruction market size of ¥75.57 trillion (2025), The construction market is expected to shift from a focus on new construction toward the maintenance, repair, and renewal of social infrastructure, with demand continuing to expand., Demand for labor-saving solutions is expected to increase against the backdrop of labor shortages in the construction industry., The structural shift in the rental market from ownership to usage is expected to accelerate., Investment in automation and labor-saving solutions is expected to become essential against the backdrop of the expanding e-commerce market and the 2024 logistics issue., Uncertainty surrounding raw material prices and logistics costs is recognized as an issue.
Segment targetSegment Temporary construction materials business: system scaffolding / Sales Target At least ¥13.0 billion / Timing Fiscal year ending March 2031, Segment Temporary construction materials business: rental and construction services / Sales Target At least ¥12.0 billion (rental: at least ¥3.0 billion; construction services: at least ¥9.0 billion) / Timing Fiscal year ending March 2031, Segment Logistics equipment business / Sales Target At least ¥10 billion / Timing Fiscal year ending March 2031
Size of the Target MarketConstruction market size of ¥75.57 trillion (2025). Source: Ministry of Land, Infrastructure, Transport and Tourism, "Overview of the Construction Investment Outlook for Fiscal 2025."
Risks identified by the company
Severe labor shortages in the construction industry
Addressing the aging of social infrastructure and demand for maintenance and repair
Uncertainty surrounding raw material prices and logistics costs
Rising safety requirements at construction sites and revisions to occupational safety and health regulations
Structural changes in the construction market
Responding to rental demand and utilization rates
Responding to the 2024 logistics issue and demand for automation and labor-saving solutions
Expansion of the e-commerce market and increasing scale and functionality of logistics facilities
Reason for revision or withdrawal
The previous medium-term management plan was achieved 3 years ahead of schedule because structural reforms to rebuild the earnings base, including profitability improvement measures and M&A, proved effective. The Company also views the severe labor shortage in the construction industry and growing demand for the maintenance and repair of social infrastructure as opportunities for the next phase of growth.
| Item | Details |
|---|---|
| Plan name | Further Deepening and Challenges in New Business Areas |
| Plan period | Fiscal year ending March 2027 to fiscal year ending March 2031 |
| Progress against the plan | Formulated |
| Sales Target | ¥20,138 million (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031) → ¥35,000 million (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031)（Up 73.8% (calculated value)） |
| Operating profit target | ¥2,271 million (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031) → At least 3,500（At least 54.1% (calculated value)） |
| Operating profit margin target | 11.3 % (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031) → At least 10.0%（Down 11.5% (calculated value, comparison with the lower bound)） |
| ROE target | 9.1 % (actual for the fiscal year ending March 2026 → plan for the fiscal year ending March 2031) → At least 12%（At least 31.9% (calculated value)） |
| Payout ratio / DOE policy | The Company will implement progressive dividends with an annual dividend of ¥32 as the floor. It intends to continue paying progressive dividends that do not fall below the previous year's dividend. The applicable period is the duration of the new medium-term management plan. |
| Treasury share acquisition policy | The Company will flexibly consider share buybacks that contribute to improving capital efficiency, while taking into account the balance with growth investments. No repurchase limit, specific timing, or terms have been disclosed. |
| Self-assessment of PBR and share price | As of the fiscal year ending March 2026, the PBR is approximately 0.7x (0.65x in the chart), and is assessed as remaining below 1x. The Company aims to achieve a PBR of at least 1.0x or above 1.0x at an early stage. |
| Total investment plan | Growth investments of ¥6.0 billion to ¥9.0 billion during the new medium-term management plan period |
| Investment amount by sector | Field M&A / Amount ¥4.0 billion to ¥6.0 billion, Field Rental asset investments / Amount ¥1.2bn, Field Facilities and renewal investments / Amount ¥500 million to ¥1.0 billion, Field DX, research and development, and human capital investments / Amount ¥500 million to ¥1.0 billion |
| Segment target | Segment Temporary construction materials business: system scaffolding / Sales Target At least ¥13.0 billion / Timing Fiscal year ending March 2031, Segment Temporary construction materials business: rental and construction services / Sales Target At least ¥12.0 billion (rental: at least ¥3.0 billion; construction services: at least ¥9.0 billion) / Timing Fiscal year ending March 2031, Segment Logistics equipment business / Sales Target At least ¥10 billion / Timing Fiscal year ending March 2031 |
| Plan assumptions | Construction market size of ¥75.57 trillion (2025), The construction market is expected to shift from a focus on new construction toward the maintenance, repair, and renewal of social infrastructure, with demand continuing to expand., Demand for labor-saving solutions is expected to increase against the backdrop of labor shortages in the construction industry., The structural shift in the rental market from ownership to usage is expected to accelerate., Investment in automation and labor-saving solutions is expected to become essential against the backdrop of the expanding e-commerce market and the 2024 logistics issue., Uncertainty surrounding raw material prices and logistics costs is recognized as an issue. |
| Key initiatives | Strengthening the Profitability of Existing Businesses, Create new growth drivers, Strengthen the management foundation with a focus on capital efficiency, Adopt a strategy specializing in infrastructure and maintenance, Promote the development of products that are lighter and easier to install, Develop and promote the adoption of high-value-added products and services, Concentrate sales resources in priority areas, Strengthen proposals for infrastructure and large-scale renovation projects, Expand the range of newly handled products, Develop new customers by leveraging construction services, Strengthen the framework for bundled orders through group-wide sales, Improve customer convenience through bundled proposals combining materials and rental services, Expand the earnings base through rental investments, Achieve high quality and shorter construction periods by expanding the in-house construction structure, Deploy dedicated sales personnel with a focus on priority areas, Expand the nationwide coverage of construction services by utilizing group locations, Strengthen asset management with a focus on utilization rates, Accelerate consultative sales of high-value-added products, including customized products, Thoroughly strengthen repeat and replacement proposals for existing customers, Develop new products and expand the lineup to address automation and labor-saving needs, Expand the business scope from materials sales to logistics optimization consulting, Create growth opportunities through M&A and new businesses, Optimize capital allocation and reform the business portfolio, Strengthening the Group's Management Foundation, Develop and secure human resources, Measure CO2 emissions and respond to exhaust gas regulations, Enhance shareholder returns, Engage proactively in dialogue with investors |
| Results under the previous plan | Revenue 20,000 / Operating profit 2,400 → Revenue 20,138 / Operating profit 2,488（Revenue Up 0.7% (calculated value) / Operating profit Up 3.7% (calculated value)） |
| Reason for revision or withdrawal | The previous medium-term management plan was achieved 3 years ahead of schedule because structural reforms to rebuild the earnings base, including profitability improvement measures and M&A, proved effective. The Company also views the severe labor shortage in the construction industry and growing demand for the maintenance and repair of social infrastructure as opportunities for the next phase of growth. |
| Size of the Target Market | Construction market size of ¥75.57 trillion (2025). Source: Ministry of Land, Infrastructure, Transport and Tourism, "Overview of the Construction Investment Outlook for Fiscal 2025." |
| Risks identified | Severe labor shortages in the construction industry, Addressing the aging of social infrastructure and demand for maintenance and repair, Uncertainty surrounding raw material prices and logistics costs, Rising safety requirements at construction sites and revisions to occupational safety and health regulations, Structural changes in the construction market, Responding to rental demand and utilization rates, Responding to the 2024 logistics issue and demand for automation and labor-saving solutions, Expansion of the e-commerce market and increasing scale and functionality of logistics facilities |
| Date of board resolution | 26 June 2026 |
| Publication date | 26 June 2026 |
Items this document does not state (4)
Net income targetROIC targetCost of capitalNon-financial targets
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 financial targets of the previous medium-term management plan are expected to be achieved 3 years ahead of schedule. The aim is to turn these results into sustainable growth rather than allowing them to remain temporary. In addition, the Company views the severe labor shortage in the construction industry and growing demand for the maintenance and repair of social infrastructure as growth opportunities, and will accelerate its evolution from a manufacturing and sales-based business into a "total solution for construction and logistics sites" equipped with construction and rental capabilities.
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