Worth reading
53Recurring
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
73
¥100 million (increase from actual consolidated net sales in the fiscal year ended March 2021 to the target for the fiscal year ending March 2024)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,021Target2,024Hundreds of millions of yen
Operating profit+0.1%
基準 2,021Target2,024Hundreds of millions of yen
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. 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 → 7.5 %
Only the target level is shown because the current level for comparison was not provided.Total investment plan¥13.0 billion (comprising ¥6.0 billion in capital expenditures, ¥2.0 billion for strengthening existing technologies and developing new technologies, and ¥5.0 billion in M&A investments)
Investment amount by sectorField Capital Expenditure / Amount ¥6 billion, Field Investment in strengthening existing technologies and developing new technologies (including collaboration and alliances with external organizations) / Amount ¥2 billion, Field M&A Investment / Amount ¥5 billion
Statements about the use of capital
Payout ratio / DOE policyThe company will maintain stable dividends and aims for a consolidated dividend payout ratio of at least 35% for the fiscal year ending March 2024.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 policyShare repurchases will be conducted flexibly in response to the business environment, with the company seeking to return profits to shareholders. No specific purchase amount, number of shares or purchase period is stated.
Key initiatives
01Expansion of core businesses
02Building a new foundation for the future
03Digital strategy for products and services
04New business strategy
05Environmental Measures
063R and environmental-impact reduction strategy to address social issues
07Strengthening efforts toward decarbonization
08Further strengthening of capital investment and research and development
09Strengthening global expansion
10Strengthening the framework for implementing basic strategies
118 priority target fields
Non-financial targetsIndicator CO2 emissions (domestic sites) / Target value 26% reduction from fiscal 2013 / Timing Fiscal year ended March 2024, Indicator CO2 emissions (domestic sites) / Target value 46% reduction from fiscal 2013 / Timing FY2030, Indicator Sales share of products that contribute to sustainability / Target value At least 50% / Timing Fiscal year ended March 2024, Indicator Sales share of products that contribute to sustainability / Target value 70％ / Timing FY2030
Risks identified by the company
Spread of COVID-19
Climate Change
Global environmental issues, including biodiversity loss
Risk of resource depletion
Environmental impact across the entire supply chain
Risks arising from environmental issues
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2024 |
| Plan period | Fiscal years ending March 2022 to March 2024 (three-year plan) |
| Progress against the plan | Formulated |
| Sales Target | 647 (actual for the fiscal year ended March 2021) → 720 (target for the final year, fiscal year ending March 2024)（Approximately 11.3%） |
| Operating profit target | 106 (actual for the fiscal year ended March 2021) → 115 (target for the final year, fiscal year ending March 2024)（Approximately 8.5%） |
| ROE target | Not disclosed → 7.5 % |
| Payout ratio / DOE policy | The company will maintain stable dividends and aims for a consolidated dividend payout ratio of at least 35% for the fiscal year ending March 2024. |
| Treasury share acquisition policy | Share repurchases will be conducted flexibly in response to the business environment, with the company seeking to return profits to shareholders. No specific purchase amount, number of shares or purchase period is stated. |
| Total investment plan | ¥13.0 billion (comprising ¥6.0 billion in capital expenditures, ¥2.0 billion for strengthening existing technologies and developing new technologies, and ¥5.0 billion in M&A investments) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥6 billion, Field Investment in strengthening existing technologies and developing new technologies (including collaboration and alliances with external organizations) / Amount ¥2 billion, Field M&A Investment / Amount ¥5 billion |
| Non-financial targets | Indicator CO2 emissions (domestic sites) / Target value 26% reduction from fiscal 2013 / Timing Fiscal year ended March 2024, Indicator CO2 emissions (domestic sites) / Target value 46% reduction from fiscal 2013 / Timing FY2030, Indicator Sales share of products that contribute to sustainability / Target value At least 50% / Timing Fiscal year ended March 2024, Indicator Sales share of products that contribute to sustainability / Target value 70％ / Timing FY2030 |
| Key initiatives | Expansion of core businesses, Building a new foundation for the future, Digital strategy for products and services, New business strategy, Environmental Measures, 3R and environmental-impact reduction strategy to address social issues, Strengthening efforts toward decarbonization, Further strengthening of capital investment and research and development, Strengthening global expansion, Strengthening the framework for implementing basic strategies, 8 priority target fields |
| Risks identified | Spread of COVID-19, Climate Change, Global environmental issues, including biodiversity loss, Risk of resource depletion, Environmental impact across the entire supply chain, Risks arising from environmental issues |
| Publication date | 27 August 2021 |
Items this document does not state (11)
Operating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share priceSegment targetPlan assumptionsResults under the previous planReason for revision or withdrawalSize of the Target MarketDate 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 business environment is undergoing major changes, including changes in lifestyles resulting from the spread of COVID-19, global environmental issues such as climate change and biodiversity loss, growing interest in ESG and the SDGs, the risk of resource depletion, the need to reduce the environmental impact of the entire supply chain, and the accelerating shift to digital technologies to improve productivity and services. The aim is to further expand the scope of the CSV activities pursued to date, achieve steady growth and build a foundation for the future.
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.