Worth reading
55In 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
24
¥100 million (FY2028 operating profit target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedOperating profit+0.1%
基準 2,026Target2,028million / ¥100 million
Net income for the current fiscal year+0.1%
基準 2,026Target2,028million / ¥100 million
ROE+2.0pt
基準 2,026Target2,028％
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.
Net SalesActual for the fiscal year ending March 2026: 34,576 → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planTarget ROE: 8% → Actual ROE for the fiscal year ending March 2026: 6.87%+25,225.0%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyDuring the period of the new medium-term management plan, the company will make consistent and flexible dividend payments, using a payout ratio of 40% as a guideline.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of equity of approximately 6%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR remains below 1.0x at 0.8x. The company aims to achieve a PBR of at least 1.0x over the medium to long term.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthen core and growth businesses
02Management with Awareness of Cost of Capital and Share Price
03Promote sustainable growth
04Promote CSR management
05Increase utilization rates at hydrogen production facilities and expand sales to new markets, including semiconductor-related applications
06Increase supply capacity and further grow the food business by establishing a new filling plant for food-additive gases
07Expand production capacity and improve operational efficiency by establishing a new plant for the ice-making equipment business
08Shareholder returns policy
09Strengthen public relations and IR activities
Risks identified by the company
Higher repair expenses resulting from soaring fuel, energy and materials prices
Rising logistics and labor costs
Failure to achieve business expansion through M&A
Decline in ROE
Failure to clearly communicate the company's corporate value and growth strategy to the market
| Item | Details |
|---|---|
| Plan name | New Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Sales Target | Actual for the fiscal year ending March 2026: 34,576 → Not disclosed |
| Operating profit target | Actual for the fiscal year ending March 2026: ¥1,900 million → FY2028: ¥2.4 billion |
| Net income target | Actual for the fiscal year ending March 2026: ¥1,286 million → FY2028: ¥1.6 billion |
| ROE target | Actual for the fiscal year ending March 2026: 6.87% → Expected to improve to 7.6% in FY2028 / target of achieving 8% over the medium to long term |
| Payout ratio / DOE policy | During the period of the new medium-term management plan, the company will make consistent and flexible dividend payments, using a payout ratio of 40% as a guideline. |
| Cost of capital | Cost of equity of approximately 6% |
| Self-assessment of PBR and share price | PBR remains below 1.0x at 0.8x. The company aims to achieve a PBR of at least 1.0x over the medium to long term. |
| Key initiatives | Strengthen core and growth businesses, Management with Awareness of Cost of Capital and Share Price, Promote sustainable growth, Promote CSR management, Increase utilization rates at hydrogen production facilities and expand sales to new markets, including semiconductor-related applications, Increase supply capacity and further grow the food business by establishing a new filling plant for food-additive gases, Expand production capacity and improve operational efficiency by establishing a new plant for the ice-making equipment business, Shareholder returns policy, Strengthen public relations and IR activities |
| Results under the previous plan | Target ROE: 8% → Actual ROE for the fiscal year ending March 2026: 6.87% |
| Risks identified | Higher repair expenses resulting from soaring fuel, energy and materials prices, Rising logistics and labor costs, Failure to achieve business expansion through M&A, Decline in ROE, Failure to clearly communicate the company's corporate value and growth strategy to the market |
| Date of board resolution | 25 June 2026 |
| Publication date | 25 June 2026 |
Items this document does not state (10)
Operating profit margin targetROIC targetTreasury share acquisition policyTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsReason for revision or withdrawalSize 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 for ROE falling below the target were higher repair expenses resulting from soaring fuel, energy and materials prices, rising logistics and labor costs, and failure to achieve the planned business expansion through M&A. The main factors cited for PBR remaining below 1.0x were the decline in ROE and the company's failure to clearly communicate its corporate value and growth strategy to the market.
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.