Worth reading
57In focus
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
33
% (increase in the sales target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+33.3%
基準 15Target20100 million
Operating profit+54.5%
基準 110Target170100 million
Operating profit margin+1.2pt
基準 7.3Target8.5％
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.
ROENot disclosed → At least 10.0%
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNumber of customer accounts at the end of fiscal 2026 (First Medium-Term Management Plan): 190 accounts → Fiscal 2024 results: 178 accounts-0.1%Calculated from the two disclosed figures
Key initiatives
01I. Creation of new businesses and fields
02II. Strengthening competitiveness
03III. Strengthening the management foundation
04IV. Talent management
05V. Sustainability initiatives
06Business portfolio
07Alliances and M&A
08Customer portfolio
09Strengthening relationships and partnerships
10Review of domestic and overseas sites
11Factory automation
12Digitalization
13Strengthening the organizational structure
14Employee development and enhanced mid-career hiring
15Improving employee satisfaction (ES)
16Development of decarbonized and environmentally considerate products
17Development of a business continuity plan (BCP)
Plan assumptionsThe Long-Term Management Vision and Medium-Term Management Plans are premised on being reviewed as necessary in response to changes in circumstances, unforeseen events, and other factors.
Segment targetSegment Paper-related business / Target 25％, Segment Nonwoven-related business / Target 30％, Segment Pet care products and other own-brand products, including Kireine / Target 45％
Non-financial targetsIndicator Number of customer accounts / Timing End of fiscal 2026 (First Medium-Term Management Plan) / Target 200 accounts, Indicator Number of customer accounts / Timing End of fiscal 2030 / Target 210 accounts, Indicator Customer concentration ratio (top 3 groups) / Timing FY2030 target / Target 65% or less, Indicator Customer concentration ratio (maximum for a single customer) / Timing FY2030 target / Target 56% or less, Indicator Providing Saturdays and Sundays as regular holidays for shift workers / Timing By fiscal 2030 / Target Consideration, Indicator Review of the retirement benefit system and introduction of a corporate pension plan / Timing Fiscal 2029 / Target Implementation under consideration
Risks identified by the company
Changes in circumstances and unforeseen events
Volatility risk factors
Occurrence of unforeseen circumstances
Reason for revision or withdrawal
With the launch of contract manufacturing for pet care products as a new business, a joint venture with Unicharm Corporation, and the growth in sales of own-brand products, the segment mix will change. By fiscal 2030, the Company will create new businesses and fields and strengthen existing businesses to achieve the targets below.
| Item | Details |
|---|---|
| Plan name | Long-Term Management Vision 2030 |
| Plan period | Fiscal 2023–fiscal 2030 (First Medium-Term Management Plan: fiscal 2023–fiscal 2026; Second Medium-Term Management Plan: fiscal 2027–fiscal 2030) |
| Progress against the plan | Partially revised |
| Sales Target | ¥15 billion or more → At least ¥20 billion（33％） |
| Operating profit target | ¥110 million or more → ¥170 million or more |
| Operating profit margin target | 7.3% or more → 8.5% or more |
| ROE target | Not disclosed → At least 10.0% |
| Segment target | Segment Paper-related business / Target 25％, Segment Nonwoven-related business / Target 30％, Segment Pet care products and other own-brand products, including Kireine / Target 45％ |
| Non-financial targets | Indicator Number of customer accounts / Timing End of fiscal 2026 (First Medium-Term Management Plan) / Target 200 accounts, Indicator Number of customer accounts / Timing End of fiscal 2030 / Target 210 accounts, Indicator Customer concentration ratio (top 3 groups) / Timing FY2030 target / Target 65% or less, Indicator Customer concentration ratio (maximum for a single customer) / Timing FY2030 target / Target 56% or less, Indicator Providing Saturdays and Sundays as regular holidays for shift workers / Timing By fiscal 2030 / Target Consideration, Indicator Review of the retirement benefit system and introduction of a corporate pension plan / Timing Fiscal 2029 / Target Implementation under consideration |
| Plan assumptions | The Long-Term Management Vision and Medium-Term Management Plans are premised on being reviewed as necessary in response to changes in circumstances, unforeseen events, and other factors. |
| Key initiatives | I. Creation of new businesses and fields, II. Strengthening competitiveness, III. Strengthening the management foundation, IV. Talent management, V. Sustainability initiatives, Business portfolio, Alliances and M&A, Customer portfolio, Strengthening relationships and partnerships, Review of domestic and overseas sites, Factory automation, Digitalization, Strengthening the organizational structure, Employee development and enhanced mid-career hiring, Improving employee satisfaction (ES), Development of decarbonized and environmentally considerate products, Development of a business continuity plan (BCP) |
| Results under the previous plan | Number of customer accounts at the end of fiscal 2026 (First Medium-Term Management Plan): 190 accounts → Fiscal 2024 results: 178 accounts |
| Reason for revision or withdrawal | With the launch of contract manufacturing for pet care products as a new business, a joint venture with Unicharm Corporation, and the growth in sales of own-brand products, the segment mix will change. By fiscal 2030, the Company will create new businesses and fields and strengthen existing businesses to achieve the targets below. |
| Risks identified | Changes in circumstances and unforeseen events, Volatility risk factors, Occurrence of unforeseen circumstances |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (9)
Net income targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSize 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 reasons cited are the launch of contract manufacturing for pet care products as a new business, growth in sales of the Company's own-brand products, the creation of new businesses and fields, and the strengthening of existing businesses.
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