Worth reading
76Important
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
516
¥100 million (increase from actual net sales in FY2025 to the FY2030 plan)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+34.8%
基準 1,484Target2,000100 million
Operating profit+20.7%
基準 145Target175100 million
Net income for the current fiscal year+61.0%
基準 77Target124100 million
ROE+2.2pt
基準 7.8Target10%
ROIC+0.4pt
基準 8.1Target8.5%
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.
What happened to the previous planPrevious medium-term plan target not disclosed → Net sales of ¥31.9 billion and operating income of ¥2.9 billion
Total investment plan750 (organic growth investments; amounts for M&A and alliances not disclosed)
Investment amount by sectorField Growth Investment / Amount ¥41 billion, Field R&D capital investment / Amount ¥9 billion, Field Investments to strengthen the business foundation / Amount ¥25 billion, Field Next expansion of superabsorbent resin capacity / Amount US$160 million, Field AQUPEC MG / Amount ¥1.5 billion, Field Establishment of PEO production capabilities / Amount ¥300 million, Field Expansion of sulfolane production capacity / Amount ¥7 billion
Statements about the use of capital
Payout ratio / DOE policyThe company will pay stable dividends based on a payout ratio of at least 30% and DOE of at least 4.5%. The average payout ratio during the medium-term plan is expected to be 50%-60%. The period covered is FY2026-FY2030.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Optimise the business portfolio and improve productivity across management
02Create next-generation businesses
03Practise sustainability-oriented management
04Establish a management foundation that meets stakeholder expectations
05Improve capital efficiency and enhance the company's appeal in the equity market
Plan assumptionsThe assumptions for FY2030 are an exchange rate of ¥155/USD, ¥22.8/CNY and a naphtha price of ¥70,000/KL. Global demand for superabsorbent resin is assumed to be approximately 3.2 million tonnes in 2025, with annual growth of 3%-4%. The assumptions are average annual growth of 3% in China, 19% in South Asia and 10% in the Middle East and Africa. The company aims to decide on the next capacity expansion during FY2027, with operations scheduled to begin in 2029. The investment will be executed after confirming three conditions: the operating rate, profitability and raw material procurement.
Segment targetSegment Superabsorbent resin business / Net Sales ¥162 billion / Operating profit ¥13 billion / Timing FY2030, Segment Functional materials business / Net Sales ¥38 billion / Operating profit ¥4.5 billion / Timing FY2030
Non-financial targetsIndicator GHG reduction rate (Scopes 1 and 2) / Target 40% reduction from FY2022 / Timing FY2030, Indicator Energy intensity / Target 4.9% reduction from FY2025 / Timing FY2030, Indicator Number of new products launched / Target 10 cumulatively / Timing FY2026-FY2030, Indicator Number of patents supporting new products / Target 80 / Timing FY2030, Indicator Quality incidents / Target Zero / Timing FY2030, Indicator Implementation rate of product quality integrity assessments (high-risk products) / Target 100％ / Timing FY2030, Indicator Material legal and regulatory violations / Target Zero / Timing FY2030, Indicator Serious occupational accidents / Target Zero / Timing FY2030, Indicator Serious safety incidents / Target Zero / Timing FY2030, Indicator Operating income per employee / Target ¥10.79 million / Timing FY2030, Indicator Ratio of women in leadership positions / Target 20％ / Timing FY2030, Indicator Employee engagement score / Target 50.0 / Timing FY2030, Indicator Global production capacity (superabsorbent resin) / Target 590 KT/year / Timing FY2030
Size of the Target MarketGlobal demand: approximately 3.2 million tonnes in 2025, with annual growth of 3%-4%. Source not disclosed.
Risks identified by the company
Supply structure for raw materials and energy
Assessment of product value
A world in which dependence on fossil-based raw materials and fuels continues, and performance and cost remain more important than origin and provenance
A world in which, despite dependence on fossil-based raw materials and fuels, high costs based on carbon footprints and other factors are imposed
A world in which, amid the supply of defossilised and diversified raw materials and fuels, consumers prefer products with origins and provenance that are attractive to them
A world in which new materials and new energy sources that prioritise improvements in performance and cost over sustainability are preferred
Reason for revision or withdrawal
This marks the start of the transformation to a business structure capable of withstanding uncertainty in the business environment. Factors behind the shortfall under the previous medium-term plan included production adjustments in the semiconductor industry, the earlier-than-planned termination of the IR latex business, failure to adapt to changes in demand in the battery materials field, and a development structure overly focused on technology-led development, with insufficient market-led development themes.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2030 |
| Plan period | FY2026-FY2030 |
| Progress against the plan | Formulated |
| Sales Target | ¥1,484 100 million → ¥2,000 100 million（+34.8%） |
| Operating profit target | ¥145 100 million → ¥175 100 million（+20.7%） |
| Net income target | ¥77 100 million → ¥124 100 million（+61.0%） |
| ROE target | 7.8% → 10% |
| ROIC target | 8.1% → 8.5% |
| Payout ratio / DOE policy | The company will pay stable dividends based on a payout ratio of at least 30% and DOE of at least 4.5%. The average payout ratio during the medium-term plan is expected to be 50%-60%. The period covered is FY2026-FY2030. |
| Total investment plan | 750 (organic growth investments; amounts for M&A and alliances not disclosed) |
| Investment amount by sector | Field Growth Investment / Amount ¥41 billion, Field R&D capital investment / Amount ¥9 billion, Field Investments to strengthen the business foundation / Amount ¥25 billion, Field Next expansion of superabsorbent resin capacity / Amount US$160 million, Field AQUPEC MG / Amount ¥1.5 billion, Field Establishment of PEO production capabilities / Amount ¥300 million, Field Expansion of sulfolane production capacity / Amount ¥7 billion |
| Segment target | Segment Superabsorbent resin business / Net Sales ¥162 billion / Operating profit ¥13 billion / Timing FY2030, Segment Functional materials business / Net Sales ¥38 billion / Operating profit ¥4.5 billion / Timing FY2030 |
| Non-financial targets | Indicator GHG reduction rate (Scopes 1 and 2) / Target 40% reduction from FY2022 / Timing FY2030, Indicator Energy intensity / Target 4.9% reduction from FY2025 / Timing FY2030, Indicator Number of new products launched / Target 10 cumulatively / Timing FY2026-FY2030, Indicator Number of patents supporting new products / Target 80 / Timing FY2030, Indicator Quality incidents / Target Zero / Timing FY2030, Indicator Implementation rate of product quality integrity assessments (high-risk products) / Target 100％ / Timing FY2030, Indicator Material legal and regulatory violations / Target Zero / Timing FY2030, Indicator Serious occupational accidents / Target Zero / Timing FY2030, Indicator Serious safety incidents / Target Zero / Timing FY2030, Indicator Operating income per employee / Target ¥10.79 million / Timing FY2030, Indicator Ratio of women in leadership positions / Target 20％ / Timing FY2030, Indicator Employee engagement score / Target 50.0 / Timing FY2030, Indicator Global production capacity (superabsorbent resin) / Target 590 KT/year / Timing FY2030 |
| Plan assumptions | The assumptions for FY2030 are an exchange rate of ¥155/USD, ¥22.8/CNY and a naphtha price of ¥70,000/KL. Global demand for superabsorbent resin is assumed to be approximately 3.2 million tonnes in 2025, with annual growth of 3%-4%. The assumptions are average annual growth of 3% in China, 19% in South Asia and 10% in the Middle East and Africa. The company aims to decide on the next capacity expansion during FY2027, with operations scheduled to begin in 2029. The investment will be executed after confirming three conditions: the operating rate, profitability and raw material procurement. |
| Key initiatives | Optimise the business portfolio and improve productivity across management, Create next-generation businesses, Practise sustainability-oriented management, Establish a management foundation that meets stakeholder expectations, Improve capital efficiency and enhance the company's appeal in the equity market |
| Results under the previous plan | Previous medium-term plan target not disclosed → Net sales of ¥31.9 billion and operating income of ¥2.9 billion |
| Reason for revision or withdrawal | This marks the start of the transformation to a business structure capable of withstanding uncertainty in the business environment. Factors behind the shortfall under the previous medium-term plan included production adjustments in the semiconductor industry, the earlier-than-planned termination of the IR latex business, failure to adapt to changes in demand in the battery materials field, and a development structure overly focused on technology-led development, with insufficient market-led development themes. |
| Size of the Target Market | Global demand: approximately 3.2 million tonnes in 2025, with annual growth of 3%-4%. Source not disclosed. |
| Risks identified | Supply structure for raw materials and energy, Assessment of product value, A world in which dependence on fossil-based raw materials and fuels continues, and performance and cost remain more important than origin and provenance, A world in which, despite dependence on fossil-based raw materials and fuels, high costs based on carbon footprints and other factors are imposed, A world in which, amid the supply of defossilised and diversified raw materials and fuels, consumers prefer products with origins and provenance that are attractive to them, A world in which new materials and new energy sources that prioritise improvements in performance and cost over sustainability are preferred |
| Publication date | 11 November 2026 |
Items this document does not state (5)
Operating profit margin targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceDate 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 plan was formulated as a detailed version of the Outline of the New Medium-Term Management Plan (FY2026-FY2030) announced on 6 August. It is positioned as the starting point for transforming the business structure to withstand uncertainty in the business environment.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.