Worth reading
77Important
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
150
¥100 million or more (growth investment)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.2%
基準 2,025Target2,029100 million
Operating profit+0.2%
基準 2,025Target2,029100 million
Operating profit margin+4.0pt
基準 2,025Target2,029%
ROE+4.0pt
基準 2,025Target2,029%
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 planFY2025 STAGE2 plan: revenue ¥63 billion, operating income ¥4 billion, operating margin 6%, ROE 5%, EBITDA ¥8.5 billion → FY2025 actual: revenue ¥57.4 billion, operating income ¥2.2 billion, operating margin 4%, ROE −1%, EBITDA ¥6.1 billion（Revenue −8.9%, operating income −45.0%, ROE difference −6 percentage points, EBITDA −28.2%）0.0%Calculated from the two disclosed figures
Total investment plan¥31 billion or more (¥15 billion or more in growth investment plus ¥16 billion in investment to strengthen the operating base; calculated from the breakdown of cash outflows)
Investment amount by sectorField Growth business investment / Amount ¥15 billion or more, Field Medical and electronic materials / Amount ¥10.0 billion, Field New Business Development / Amount ¥5 billion or more, Field Investment to strengthen the operating base / Amount ¥16 billion, Field Renewal of existing facilities / Amount ¥14.0 billion, Field Renewal of the Core System / Amount ¥2 billion
Statements about the use of capital
Payout ratio / DOE policyDuring the STAGE3 period (FY2026-FY2029), dividends will be paid based on whichever is higher: a DOE of 3.0% or more or a dividend payout ratio of 100%.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 target share buybacks of ¥10 billion or more during the STAGE3 period (FY2026-FY2029), making purchases flexibly depending on progress in improving capital efficiency.
Self-assessment of PBR and share priceThe Company will strengthen its investor relations activities to improve PBR and aims to achieve a PBR of 1.0x or higher at an early stage.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Increase operating income
02Launching New Businesses
03Improve capital efficiency
04Increase business investment
05Strengthen the operating base
06Expand the conductive polymer chemicals business
07Enter additional high-value-added fields
08Establish a dominant position through a two-location operating structure in Japan and the United States
09Collaboration and co-creation
10Strengthen the organization
11Cosmetics Ingredients
12Titanium dioxide
13Manufacturing process improvement
14Refine inventory management
15Optimize the product lineup
16Concentrate resources on key customers
17Career development and growth promotion
18Strengthen capabilities and create rewarding work
19Renewal of the Core Information System
20Reduce GHG emissions
21Improve ratings from external assessment organizations (EcoVadis and CDP)
Segment targetSegment Functional Materials Business / FY2029 revenue ¥26.0 billion / FY2029 operating income ¥400 million, Segment Electronic materials and chemicals business / FY2029 revenue ¥25.9 billion / FY2029 operating income ¥2.7 billion, Segment Medical and piezoelectric materials business / FY2029 revenue ¥6 billion / FY2029 operating income ¥1.2bn, Segment Other (warehousing and engineering) / FY2029 revenue ¥1.1 billion / FY2029 operating income ¥200 million
Non-financial targetsIndicator Employee engagement survey score / Target value 71 points / Timing FY2029, Indicator GHG emissions, Scope 1 and 2 / Target value 124 thousand tonnes (42% reduction) / Timing FY2030, Indicator GHG emissions, Scope 3 / Target value 295 thousand tonnes (25% reduction) / Timing FY2030, Indicator CDP Climate Change / Target value A− or higher / Timing FY2029, Indicator CDP Water Security / Target value B or higher / Timing FY2029, Indicator Eco Vadis / Target value 70 points or more / Timing FY2029, Indicator Inventory turnover period / Target value Shorten by 1 month from the current level / Timing STAGE3 period
Risks identified by the company
Rapid changes in the market environment
Inflows of overseas products
Weak demand
Industry fluctuations in the cosmetics market
Intensifying Competition
Addressing environmental regulations
Various risk factors and uncertainties
Reason for revision or withdrawal
To balance growth and capital efficiency in light of the rapid changes in the market environment surrounding the Company. To focus on expanding growth businesses and renew its capital policies.
| Item | Details |
|---|---|
| Plan name | New medium-term management plan “MOVING-10 STAGE3” |
| Plan period | 2026-2029 fiscal years (FY2026-FY2029) |
| Progress against the plan | Formulated |
| Sales Target | FY2025 STAGE2 plan: 630 (most recent FY2025 actual: 574) → FY2029 plan: 590（−6.3% (vs. STAGE2 plan), +2.8% (vs. FY2025 actual)） |
| Operating profit target | FY2025 STAGE2 plan: 40 (most recent FY2025 actual: 22) → FY2029 plan: 45（+12.5% (vs. STAGE2 plan), +104.5% (vs. FY2025 actual)） |
| Operating profit margin target | FY2025 STAGE2 plan: 6% (most recent FY2025 actual: 4%) → FY2029 plan: 8%（+33.3% (vs. STAGE2 plan), +100% (vs. FY2025 actual)） |
| ROE target | FY2025 STAGE2 plan: 5%; most recent FY2025 actual: −1% → FY2029 plan: 8% or more（+60% or more (vs. STAGE2 plan)） |
| Payout ratio / DOE policy | During the STAGE3 period (FY2026-FY2029), dividends will be paid based on whichever is higher: a DOE of 3.0% or more or a dividend payout ratio of 100%. |
| Treasury share acquisition policy | The Company will target share buybacks of ¥10 billion or more during the STAGE3 period (FY2026-FY2029), making purchases flexibly depending on progress in improving capital efficiency. |
| Self-assessment of PBR and share price | The Company will strengthen its investor relations activities to improve PBR and aims to achieve a PBR of 1.0x or higher at an early stage. |
| Total investment plan | ¥31 billion or more (¥15 billion or more in growth investment plus ¥16 billion in investment to strengthen the operating base; calculated from the breakdown of cash outflows) |
| Investment amount by sector | Field Growth business investment / Amount ¥15 billion or more, Field Medical and electronic materials / Amount ¥10.0 billion, Field New Business Development / Amount ¥5 billion or more, Field Investment to strengthen the operating base / Amount ¥16 billion, Field Renewal of existing facilities / Amount ¥14.0 billion, Field Renewal of the Core System / Amount ¥2 billion |
| Segment target | Segment Functional Materials Business / FY2029 revenue ¥26.0 billion / FY2029 operating income ¥400 million, Segment Electronic materials and chemicals business / FY2029 revenue ¥25.9 billion / FY2029 operating income ¥2.7 billion, Segment Medical and piezoelectric materials business / FY2029 revenue ¥6 billion / FY2029 operating income ¥1.2bn, Segment Other (warehousing and engineering) / FY2029 revenue ¥1.1 billion / FY2029 operating income ¥200 million |
| Non-financial targets | Indicator Employee engagement survey score / Target value 71 points / Timing FY2029, Indicator GHG emissions, Scope 1 and 2 / Target value 124 thousand tonnes (42% reduction) / Timing FY2030, Indicator GHG emissions, Scope 3 / Target value 295 thousand tonnes (25% reduction) / Timing FY2030, Indicator CDP Climate Change / Target value A− or higher / Timing FY2029, Indicator CDP Water Security / Target value B or higher / Timing FY2029, Indicator Eco Vadis / Target value 70 points or more / Timing FY2029, Indicator Inventory turnover period / Target value Shorten by 1 month from the current level / Timing STAGE3 period |
| Key initiatives | Increase operating income, Launching New Businesses, Improve capital efficiency, Increase business investment, Strengthen the operating base, Expand the conductive polymer chemicals business, Enter additional high-value-added fields, Establish a dominant position through a two-location operating structure in Japan and the United States, Collaboration and co-creation, Strengthen the organization, Cosmetics Ingredients, Titanium dioxide, Manufacturing process improvement, Refine inventory management, Optimize the product lineup, Concentrate resources on key customers, Career development and growth promotion, Strengthen capabilities and create rewarding work, Renewal of the Core Information System, Reduce GHG emissions, Improve ratings from external assessment organizations (EcoVadis and CDP) |
| Results under the previous plan | FY2025 STAGE2 plan: revenue ¥63 billion, operating income ¥4 billion, operating margin 6%, ROE 5%, EBITDA ¥8.5 billion → FY2025 actual: revenue ¥57.4 billion, operating income ¥2.2 billion, operating margin 4%, ROE −1%, EBITDA ¥6.1 billion（Revenue −8.9%, operating income −45.0%, ROE difference −6 percentage points, EBITDA −28.2%） |
| Reason for revision or withdrawal | To balance growth and capital efficiency in light of the rapid changes in the market environment surrounding the Company. To focus on expanding growth businesses and renew its capital policies. |
| Risks identified | Rapid changes in the market environment, Inflows of overseas products, Weak demand, Industry fluctuations in the cosmetics market, Intensifying Competition, Addressing environmental regulations, Various risk factors and uncertainties |
| Date of board resolution | 13 May 2026 |
| Publication date | 13 May 2026 |
Items this document does not state (5)
Net income targetROIC targetCost of capitalPlan assumptionsSize 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.To balance growth and capital efficiency in light of the rapid changes in the market environment surrounding the Company. To focus on expanding growth businesses and renew its capital policies.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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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.