Worth reading
65In 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
250
¥100 million (versus the initial FY2027 revenue forecast; operating profit increased by ¥2.7 billion)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+0.0%
基準 2,030Target2,031Hundreds of millions of yen
Operating profit+0.0%
基準 2,030Target2,031Hundreds of millions of yen
Operating profit margin+1.0pt
基準 2,030Target2,031％
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 planFY2027 revenue of ¥36.5 billion and operating profit of ¥4.6 billion → Q1 FY2026 forecast revenue of ¥37.23 billion and operating profit of ¥4.5 billion-0.0%Calculated from the two disclosed figures
Total investment plan¥31.5 billion (6-year period from 2026 to 2031; total of capital expenditures, R&D expenses, DX/IT investments, and M&A and equity investments)
Investment amount by sectorField Capital expenditure / Amount ¥110.0 billion, Field Research and development costs / Amount ¥100 billion, Field DX/IT investment / Amount ¥35.0 billion, Field M&A and Equity Investments / Amount ¥70.0 billion
Statements about the use of capital
Payout ratio / DOE policyFor the 6-year period from 2026 to 2031, a payout ratio of at least 30% and DOE of at least 3.5%. The payout ratio target for FY2031 is 40%.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share pricePBR: not disclosed. The company evaluates shareholder value as being at a high level, with a 10-year TSR of 370%, exceeding the TOPIX Chemicals sector's 231% and the TOPIX Pharmaceuticals sector's 171%.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Global expansion of core businesses
02Expansion into new fields
03Deepening and expanding technological and product capabilities
04Building the foundation for the medical business
05Price revision
06Strengthening production efficiency
07Strengthen human capital
08Geographic expansion
09Accelerating proposals for health solutions inside and outside the company
10Strengthening the management foundation to generate profits
Plan assumptionsThe market growth rate is qualitatively indicated as “high” in the business portfolio. Funding sources are ¥38.0 billion in operating cash flow and ¥2.0 billion in borrowings. Numerical assumptions such as exchange rates are not disclosed.
Segment targetSegment Eye care (excluding medical use) / FY2025 ¥4.54 billion / FY2028 ¥49.8 billion / Fiscal 2031 ¥5.94 billion / FY2035 ¥7.0–8.0 billion, Segment Skincare / FY2025 ¥19.69 billion / FY2028 ¥235 billion / Fiscal 2031 ¥26.23 billion / FY2035 ¥30.0–32.0 billion, Segment Oral products and food (excluding contract medical products business) / FY2025 ¥54.3 billion / FY2028 ¥6.56 billion / Fiscal 2031 ¥7.43 billion / FY2035 ¥8.5–10.0 billion, Segment Medical Business / FY2025 ¥38.1 billion / FY2028 ¥4.05 billion / Fiscal 2031 ¥52.0 billion / FY2035 ¥60–80 billion
Non-financial targetsIndicator Skin support rate / Target value Aim to become the No. 1 manufacturer / Timing Not disclosed
Reason for revision or withdrawal
Formulated using a rolling approach, with management forecasts continuously reviewed at regular intervals precisely because this is an era of rapid change and uncertainty.
| Item | Details |
|---|---|
| Plan name | Mid- to Long-Term Growth Strategy 2026 |
| Plan period | 2026–2031 (the six-year period from 2026 to 2031) |
| Progress against the plan | Partially revised |
| Sales Target | ¥415.0 billion (FY2030, when formulated in 2025) → ¥46.4 billion (FY2031) |
| Operating profit target | ¥5.4 billion (FY2030, when formulated in 2025) → ¥5.98 billion (FY2031) |
| Operating profit margin target | 13.0% (FY2030) → 12.9% (FY2031) |
| Payout ratio / DOE policy | For the 6-year period from 2026 to 2031, a payout ratio of at least 30% and DOE of at least 3.5%. The payout ratio target for FY2031 is 40%. |
| Self-assessment of PBR and share price | PBR: not disclosed. The company evaluates shareholder value as being at a high level, with a 10-year TSR of 370%, exceeding the TOPIX Chemicals sector's 231% and the TOPIX Pharmaceuticals sector's 171%. |
| Total investment plan | ¥31.5 billion (6-year period from 2026 to 2031; total of capital expenditures, R&D expenses, DX/IT investments, and M&A and equity investments) |
| Investment amount by sector | Field Capital expenditure / Amount ¥110.0 billion, Field Research and development costs / Amount ¥100 billion, Field DX/IT investment / Amount ¥35.0 billion, Field M&A and Equity Investments / Amount ¥70.0 billion |
| Segment target | Segment Eye care (excluding medical use) / FY2025 ¥4.54 billion / FY2028 ¥49.8 billion / Fiscal 2031 ¥5.94 billion / FY2035 ¥7.0–8.0 billion, Segment Skincare / FY2025 ¥19.69 billion / FY2028 ¥235 billion / Fiscal 2031 ¥26.23 billion / FY2035 ¥30.0–32.0 billion, Segment Oral products and food (excluding contract medical products business) / FY2025 ¥54.3 billion / FY2028 ¥6.56 billion / Fiscal 2031 ¥7.43 billion / FY2035 ¥8.5–10.0 billion, Segment Medical Business / FY2025 ¥38.1 billion / FY2028 ¥4.05 billion / Fiscal 2031 ¥52.0 billion / FY2035 ¥60–80 billion |
| Non-financial targets | Indicator Skin support rate / Target value Aim to become the No. 1 manufacturer / Timing Not disclosed |
| Plan assumptions | The market growth rate is qualitatively indicated as “high” in the business portfolio. Funding sources are ¥38.0 billion in operating cash flow and ¥2.0 billion in borrowings. Numerical assumptions such as exchange rates are not disclosed. |
| Key initiatives | Global expansion of core businesses, Expansion into new fields, Deepening and expanding technological and product capabilities, Building the foundation for the medical business, Price revision, Strengthening production efficiency, Strengthen human capital, Geographic expansion, Accelerating proposals for health solutions inside and outside the company, Strengthening the management foundation to generate profits |
| Results under the previous plan | FY2027 revenue of ¥36.5 billion and operating profit of ¥4.6 billion → Q1 FY2026 forecast revenue of ¥37.23 billion and operating profit of ¥4.5 billion |
| Reason for revision or withdrawal | Formulated using a rolling approach, with management forecasts continuously reviewed at regular intervals precisely because this is an era of rapid change and uncertainty. |
| Publication date | 2 October 2026 |
Items this document does not state (8)
Net income targetROE targetROIC targetTreasury share acquisition policyCost of capitalSize of the Target MarketRisks identifiedDate 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 company says the strategy will be formulated using a rolling approach that continuously reviews management forecasts in response to an era of rapid change and uncertainty.
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.