Worth reading
81Important
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
540
¥100 million (based on the lower end of the core operating profit target; difference from the forecast for the final year of the previous medium-term plan)Wording
—
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales-99.9%
基準 2,026Target1.6Hundreds of millions of yen
Operating profit-86.4%
基準 2,026Target275Hundreds of millions of yen
Operating profit margin-2,009.0pt
基準 2,026Target17％
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 ¥975.0 billion–¥1.00 trillion, core operating profit of ¥125.0 billion–¥135.0 billion, and EBITDA margin of ≥24% (targets for the fiscal year ending March 2026) → Revenue of ¥1.33 trillion, core operating profit of ¥196.0 billion, and EBITDA margin of 24.2% (forecasts for the fiscal year ending March 2026)0.0%Calculated from the two disclosed figures
Total investment planCapital expenditures, investments and financing are expected to increase by approximately 30% from the cumulative amount projected under the previous medium-term management plan, NS Vision 2026. The absolute amount is Not disclosed.
Investment amount by sectorField Group strategic investments / Amount 5%, Field Growth Investment / Amount 32%, Field Maintenance and replacement investments / Amount 47%, Field Other / Amount 16%
Statements about the use of capital
Payout ratio / DOE policyThe long-term target payout ratio is 20%–30%, and stable, reliable dividends will be maintained. The policy applies over the long term.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthen the profitability of the industrial gases business
02Expand the electronics business
03Create future growth drivers
04Create human capital value
05Sustainability
06DX
07Engineering
08Technology & Business Development
09Branding
Plan assumptionsAssumed exchange rates under the new medium-term plan: ¥150/$, ¥175/€, Base year for the GHG reduction target: FYE2019, Base year for Sustainable Business, water withdrawal intensity, waste intensity and contribution to GHG reductions: FYE2025
Non-financial targetsIndicator GHG emissions reduction rate / Target value 9%（FYE2031）、21%（FYE2036） / Timing FYE2031、FYE2036, Indicator Increase in contribution to GHG reductions / Target value 30% increase / Timing FYE2030, Indicator Increase in Sustainable Business revenue / Target value 30% increase / Timing FYE2030, Indicator Reduction in water withdrawal per unit of production / Target value 10% reduction / Timing FYE2030, Indicator Reduction in waste per unit of production / Target value 10% reduction / Timing FYE2030, Indicator Lost-time injury frequency rate / Target value 1.3 or lower / Timing FYE2030, Indicator Percentage of Female Managers / Target value 22% or higher / Timing FYE2031, Indicator Percentage of female employees / Target value 25% or higher / Timing FYE2031, Indicator Sustainable engagement score / Target value 83 or higher / Timing FYE2030, Indicator Compliance survey score / Target value 80 or higher / Timing FYE2030
Risks identified by the company
Supply chain risks arising from heightened geopolitical risks and increasing regional uncertainty
New risks arising for companies from advances in digital technology
Impact of climate change
Economic uncertainty
Diversification of values and lifestyles
Fluctuations in interest rates and foreign exchange rates
Development and emergence of competing products
Changes in relevant laws and regulations and decisions by regulatory authorities
Impact of health crises on governments, customers and suppliers in the countries and regions where the business operates
Timing and impact of PMI with acquired companies
Ability to sell business assets and timing of such sales
Reason for revision or withdrawal
The previous medium-term management plan, “NS Vision 2026—Enabling the Future,” focused on building a foundation to support future growth and has delivered results that have generally exceeded the initial plan through the steady execution of its key strategies. Based on this foundation, the Group will transition to its next stage of growth.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan Next Innovation 2030 |
| Plan period | Fiscal years ending March 2027–March 2030 |
| Progress against the plan | Formulated |
| Sales Target | ¥1.33 trillion (forecast for the fiscal year ending March 2026) → ¥1.50 trillion–¥1.575 trillion（Approximately +12.8%–+18.4%） |
| Operating profit target | ¥196.0 billion (core operating profit; forecast for the fiscal year ending March 2026) → ¥250.0 billion–¥275.0 billion (core operating profit)（Approximately +27.6%–+40.3%） |
| Operating profit margin target | 14.7% (core operating margin; forecast for the fiscal year ending March 2026) → ≧17% |
| Payout ratio / DOE policy | The long-term target payout ratio is 20%–30%, and stable, reliable dividends will be maintained. The policy applies over the long term. |
| Total investment plan | Capital expenditures, investments and financing are expected to increase by approximately 30% from the cumulative amount projected under the previous medium-term management plan, NS Vision 2026. The absolute amount is Not disclosed. |
| Investment amount by sector | Field Group strategic investments / Amount 5%, Field Growth Investment / Amount 32%, Field Maintenance and replacement investments / Amount 47%, Field Other / Amount 16% |
| Non-financial targets | Indicator GHG emissions reduction rate / Target value 9%（FYE2031）、21%（FYE2036） / Timing FYE2031、FYE2036, Indicator Increase in contribution to GHG reductions / Target value 30% increase / Timing FYE2030, Indicator Increase in Sustainable Business revenue / Target value 30% increase / Timing FYE2030, Indicator Reduction in water withdrawal per unit of production / Target value 10% reduction / Timing FYE2030, Indicator Reduction in waste per unit of production / Target value 10% reduction / Timing FYE2030, Indicator Lost-time injury frequency rate / Target value 1.3 or lower / Timing FYE2030, Indicator Percentage of Female Managers / Target value 22% or higher / Timing FYE2031, Indicator Percentage of female employees / Target value 25% or higher / Timing FYE2031, Indicator Sustainable engagement score / Target value 83 or higher / Timing FYE2030, Indicator Compliance survey score / Target value 80 or higher / Timing FYE2030 |
| Plan assumptions | Assumed exchange rates under the new medium-term plan: ¥150/$, ¥175/€, Base year for the GHG reduction target: FYE2019, Base year for Sustainable Business, water withdrawal intensity, waste intensity and contribution to GHG reductions: FYE2025 |
| Key initiatives | Strengthen the profitability of the industrial gases business, Expand the electronics business, Create future growth drivers, Create human capital value, Sustainability, DX, Engineering, Technology & Business Development, Branding |
| Results under the previous plan | Revenue of ¥975.0 billion–¥1.00 trillion, core operating profit of ¥125.0 billion–¥135.0 billion, and EBITDA margin of ≥24% (targets for the fiscal year ending March 2026) → Revenue of ¥1.33 trillion, core operating profit of ¥196.0 billion, and EBITDA margin of 24.2% (forecasts for the fiscal year ending March 2026) |
| Reason for revision or withdrawal | The previous medium-term management plan, “NS Vision 2026—Enabling the Future,” focused on building a foundation to support future growth and has delivered results that have generally exceeded the initial plan through the steady execution of its key strategies. Based on this foundation, the Group will transition to its next stage of growth. |
| Risks identified | Supply chain risks arising from heightened geopolitical risks and increasing regional uncertainty, New risks arising for companies from advances in digital technology, Impact of climate change, Economic uncertainty, Diversification of values and lifestyles, Fluctuations in interest rates and foreign exchange rates, Development and emergence of competing products, Changes in relevant laws and regulations and decisions by regulatory authorities, Impact of health crises on governments, customers and suppliers in the countries and regions where the business operates, Timing and impact of PMI with acquired companies, Ability to sell business assets and timing of such sales |
Items this document does not state (10)
Net income targetROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSegment targetSize of the Target MarketDate of board resolutionPublication date
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 transition to the next stage of growth based on the growth platform built under the previous medium-term management plan. To respond to changes in the operating environment and evolve into a company capable of addressing future challenges.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.