Worth reading
68In 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
2267
¥ million (change in planned consolidated revenue)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+7.3%
基準 31,232Target33,500million
Operating profit+0.2%
基準 4,240Target4,250million
ROE+2.9pt
基準 5.1Target8%
ROIC+3.0pt
基準 2,026Target2,029%; percentage points
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.
Operating profit marginNot disclosed → 12.7 %
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planFinal-year plan figures under the Seventh Medium-Term Management Plan (individual figures are Not disclosed) → Consolidated revenue fell short of the final-year plan figure, while consolidated operating profit reached the final-year plan figure in the second year. Capital efficiency indicators reached their initial targets as of the end of the second year.
Total investment planTotal growth investment: ¥7.38 billion (3 years) / Total capital expenditure: ¥7,386 million (3 years)
Investment amount by sectorField Capital Expenditure / Amount ¥7.14 billion, Field R&D investment / Amount ¥240 million, Field Fine Chemicals capital expenditure / Amount ¥4,376 million, Field Porous Materials capital expenditure / Amount ¥2,098 million, Field Services and real estate-related capital expenditure / Amount ¥912 million, Field New investment in Fine Chemicals logistics facilities / Amount Approximately ¥3.5 billion, Field Contingency funding for M&A and other unforeseen measures / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe Company will maintain stable and consistent dividends and target a payout ratio of at least 35% of consolidated operating profit and DOE of at least 2.5%. The applicable period is the 3-year term of the Eighth Medium-Term Management Plan.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 policyDuring the 3-year term of the Eighth Medium-Term Management Plan, the Company plans to pay dividends exceeding its past shareholder returns even without conducting share repurchases.
Key initiatives
01Expansion of digital services
02Strengthening of overseas operations
03Advancement of digital initiatives
04Strengthening of overseas expansion
05Strengthening of the healthcare business
06Strengthening of local production bases
07Promotion of collaboration with distributors
08Expansion of the export product lineup
09Analysis of overseas trends
10Promoting the delivery of value through e-commerce across the Group
11Considering the establishment of an Executive Officer Committee (new)
12Reviewing the business portfolio, including the promotion of M&A
Plan assumptionsA 30% effective tax rate is used in calculating ROIC. Numerical assumptions for exchange rates, market growth rates, raw material prices and other items are Not disclosed.
Segment targetSegment Fine chemicals / Sales target +¥1.11 billion versus the fiscal year ending March 2026 / Operating profit target +¥240 million versus the fiscal year ending March 2026, Segment Porous Materials / Sales target +¥600 million versus the fiscal year ending March 2026 / Operating profit target -¥140 million versus the fiscal year ending March 2026, Segment Services and real estate-related / Sales target +¥540 million versus the fiscal year ending March 2026 / Operating profit target -¥70 million versus the fiscal year ending March 2026
Risks identified by the company
Fluctuations in product demand
Economic Trends
Weather
Other risks and uncertainties
Reason for revision or withdrawal
The business environment surrounding the Group has changed significantly due to the worsening of structural issues such as population aging and the declining working population, price increases caused by higher energy prices, declining real wages, and the rapid advancement of AI. The Group will revisit measures left incomplete under the previous medium-term plan and implement initiatives that contribute to resolving social issues.
| Item | Details |
|---|---|
| Plan name | Eighth Medium-Term Management Plan “Transformation” |
| Plan period | April 2026 to March 2029 |
| Progress against the plan | Formulated |
| Sales Target | 31,232 (actual for the fiscal year ending March 2026) → 33,500 (plan for the fiscal year ending March 2029) |
| Operating profit target | 4,240 (actual for the fiscal year ending March 2026) → 4,250 (plan for the fiscal year ending March 2029) |
| Operating profit margin target | Not disclosed → 12.7 % |
| ROE target | 5.1 (actual for the final year of the Seventh Medium-Term Management Plan) → 8 (target level over the longer term) |
| ROIC target | 8.9 (actual for the fiscal year ending March 2026) → 7.6 (plan for the fiscal year ending March 2029) |
| Payout ratio / DOE policy | The Company will maintain stable and consistent dividends and target a payout ratio of at least 35% of consolidated operating profit and DOE of at least 2.5%. The applicable period is the 3-year term of the Eighth Medium-Term Management Plan. |
| Treasury share acquisition policy | During the 3-year term of the Eighth Medium-Term Management Plan, the Company plans to pay dividends exceeding its past shareholder returns even without conducting share repurchases. |
| Total investment plan | Total growth investment: ¥7.38 billion (3 years) / Total capital expenditure: ¥7,386 million (3 years) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥7.14 billion, Field R&D investment / Amount ¥240 million, Field Fine Chemicals capital expenditure / Amount ¥4,376 million, Field Porous Materials capital expenditure / Amount ¥2,098 million, Field Services and real estate-related capital expenditure / Amount ¥912 million, Field New investment in Fine Chemicals logistics facilities / Amount Approximately ¥3.5 billion, Field Contingency funding for M&A and other unforeseen measures / Amount Not disclosed |
| Segment target | Segment Fine chemicals / Sales target +¥1.11 billion versus the fiscal year ending March 2026 / Operating profit target +¥240 million versus the fiscal year ending March 2026, Segment Porous Materials / Sales target +¥600 million versus the fiscal year ending March 2026 / Operating profit target -¥140 million versus the fiscal year ending March 2026, Segment Services and real estate-related / Sales target +¥540 million versus the fiscal year ending March 2026 / Operating profit target -¥70 million versus the fiscal year ending March 2026 |
| Plan assumptions | A 30% effective tax rate is used in calculating ROIC. Numerical assumptions for exchange rates, market growth rates, raw material prices and other items are Not disclosed. |
| Key initiatives | Expansion of digital services, Strengthening of overseas operations, Advancement of digital initiatives, Strengthening of overseas expansion, Strengthening of the healthcare business, Strengthening of local production bases, Promotion of collaboration with distributors, Expansion of the export product lineup, Analysis of overseas trends, Promoting the delivery of value through e-commerce across the Group, Considering the establishment of an Executive Officer Committee (new), Reviewing the business portfolio, including the promotion of M&A |
| Results under the previous plan | Final-year plan figures under the Seventh Medium-Term Management Plan (individual figures are Not disclosed) → Consolidated revenue fell short of the final-year plan figure, while consolidated operating profit reached the final-year plan figure in the second year. Capital efficiency indicators reached their initial targets as of the end of the second year. |
| Reason for revision or withdrawal | The business environment surrounding the Group has changed significantly due to the worsening of structural issues such as population aging and the declining working population, price increases caused by higher energy prices, declining real wages, and the rapid advancement of AI. The Group will revisit measures left incomplete under the previous medium-term plan and implement initiatives that contribute to resolving social issues. |
| Risks identified | Fluctuations in product demand, Economic Trends, Weather, Other risks and uncertainties |
| Publication date | 14 May 2026 |
Items this document does not state (6)
Net income targetCost of capitalSelf-assessment of PBR and share priceNon-financial targetsSize 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 has changed due to population aging and a declining working population, rising prices, declining real wages, and the rapid advancement of AI. The Group will revisit measures left incomplete under the previous medium-term plan, implement initiatives that contribute to resolving social issues, and expand its business domains. It also expects growth in profit and capital efficiency to be limited during the plan period because of increases in invested capital associated with large-scale capital expenditure and higher depreciation and labor costs.
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.