Worth reading
72In 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
499
¥100 million (target consolidated revenue for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,026Target2,029million
Operating profit+0.1%
基準 2,026Target2,029million
Operating profit margin+3.0pt
基準 2,026Target2,029%
ROE+3.0pt
基準 2,026Target2,029%
ROIC+3.0pt
基準 2,026Target2,029%
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 ¥51.5 billion, operating profit of ¥2.80 billion, equity ratio of 30.0% and ROIC of 10.0% (plan for the fiscal year ending March 2026) → Revenue of ¥45.2 billion, operating profit of ¥1.27 billion, equity ratio of 27.5% and ROIC of 2.9% (actual for the fiscal year ending March 2026)（Revenue: -12.2%, operating profit: -54.6%, equity ratio: -8.3%, ROIC: -71.0%）0.0%Calculated from the two disclosed figures
Investment amount by sectorPeriod Covered Previous medium-term plan actuals / Field Strategic Investment / Amount ¥3.81 billion, Period Covered Previous medium-term plan actuals / Field Equipment renewal investments / Amount ¥6.90 billion, Period Covered Previous medium-term plan actuals / Field Capital Expenditures / Amount ¥3.41 billion, Period Covered Previous medium-term plan actuals / Field R&D Investment / Amount ¥60 million, Period Covered Previous medium-term plan actuals / Field IT Investment / Amount ¥340 million, Period Covered Previous medium-term plan actuals / Field M&A and alliances / Amount ¥0 million
Statements about the use of capital
Payout ratio / DOE policyTo lead to an early resumption of dividend payments (policy under the previous medium-term plan; scheduled to be implemented in the current fiscal year)The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Structural reform of the business
02Redefinition of existing businesses
03Developing a new organizational culture
04Portfolio management by business area
05Exploration and launch of new businesses
06International expansion
07Production of sustainable aviation fuel (SAF) feedstock from waste liquid
Plan assumptionsThe plan assumes that solar power generation will increase toward achieving carbon neutrality by 2050., Based on the Sixth Basic Energy Plan approved by the Cabinet on 22 October 2021, solar power generation capacity in 2030 is estimated at 103.5 GW to 117.6 GW., The outlook may fluctuate depending on economic trends, environmental policies, foreign exchange trends and other factors.
Size of the Target MarketMarket Termite extermination market / Scale Has remained at approximately ¥49.3 billion / Source Not disclosed
Risks identified by the company
Changes in economic trends
Changes in environmental policies
Foreign Exchange Volatility
Equipment failures
Amendments to laws governing door-to-door sales
Decline in the homeownership rate
Market contraction resulting from the shift toward non-wooden housing
Increase in large-scale natural disasters and the resulting lack of insurance coverage
Higher costs for procuring materials due to the weaker yen and other factors
Changes in panel prices and regulations resulting from changes in Chinese government policy
Regulation of utility-scale solar power generation and reputational damage
Intensifying Competition and Price Competition
Reason for revision or withdrawal
In response to the downturn in the fiscal year ending March 2026, the Company strongly recognized the need for structural reform because extending existing businesses would not generate significant growth. In addition, profit declined because equipment failures could not be controlled in the fiscal year ending March 2026.
| Item | Details |
|---|---|
| Plan name | SANIX VISON 2028 (SANIX Group Medium-Term Management Plan) |
| Plan period | 2026/4–2029/3 (fiscal years ending March 2027 to March 2029) |
| Progress against the plan | Formulated |
| Sales Target | ¥51.5 billion (previous medium-term plan target for the fiscal year ending March 2026) → ¥49.9 billion (fiscal year ending March 2029)（-3.1%） |
| Operating profit target | ¥2.80 billion (previous medium-term plan target for the fiscal year ending March 2026) → ¥2.8 billion (fiscal year ending March 2029)（0%） |
| Operating profit margin target | 5.4% (previous medium-term plan target for the fiscal year ending March 2026) → 5.8% (fiscal year ending March 2029)（+7.4%） |
| ROE target | 4.0% (actual for the fiscal year ending March 2026) → 13.0% (target for the fiscal year ending March 2029)（+225.0%） |
| ROIC target | 2.9% (actual for the fiscal year ended March 2026) → 8.8% (target for the fiscal year ending March 2029)（+203.4%） |
| Payout ratio / DOE policy | To lead to an early resumption of dividend payments (policy under the previous medium-term plan; scheduled to be implemented in the current fiscal year) |
| Investment amount by sector | Period Covered Previous medium-term plan actuals / Field Strategic Investment / Amount ¥3.81 billion, Period Covered Previous medium-term plan actuals / Field Equipment renewal investments / Amount ¥6.90 billion, Period Covered Previous medium-term plan actuals / Field Capital Expenditures / Amount ¥3.41 billion, Period Covered Previous medium-term plan actuals / Field R&D Investment / Amount ¥60 million, Period Covered Previous medium-term plan actuals / Field IT Investment / Amount ¥340 million, Period Covered Previous medium-term plan actuals / Field M&A and alliances / Amount ¥0 million |
| Plan assumptions | The plan assumes that solar power generation will increase toward achieving carbon neutrality by 2050., Based on the Sixth Basic Energy Plan approved by the Cabinet on 22 October 2021, solar power generation capacity in 2030 is estimated at 103.5 GW to 117.6 GW., The outlook may fluctuate depending on economic trends, environmental policies, foreign exchange trends and other factors. |
| Key initiatives | Structural reform of the business, Redefinition of existing businesses, Developing a new organizational culture, Portfolio management by business area, Exploration and launch of new businesses, International expansion, Production of sustainable aviation fuel (SAF) feedstock from waste liquid |
| Results under the previous plan | Revenue of ¥51.5 billion, operating profit of ¥2.80 billion, equity ratio of 30.0% and ROIC of 10.0% (plan for the fiscal year ending March 2026) → Revenue of ¥45.2 billion, operating profit of ¥1.27 billion, equity ratio of 27.5% and ROIC of 2.9% (actual for the fiscal year ending March 2026)（Revenue: -12.2%, operating profit: -54.6%, equity ratio: -8.3%, ROIC: -71.0%） |
| Reason for revision or withdrawal | In response to the downturn in the fiscal year ending March 2026, the Company strongly recognized the need for structural reform because extending existing businesses would not generate significant growth. In addition, profit declined because equipment failures could not be controlled in the fiscal year ending March 2026. |
| Size of the Target Market | Market Termite extermination market / Scale Has remained at approximately ¥49.3 billion / Source Not disclosed |
| Risks identified | Changes in economic trends, Changes in environmental policies, Foreign Exchange Volatility, Equipment failures, Amendments to laws governing door-to-door sales, Decline in the homeownership rate, Market contraction resulting from the shift toward non-wooden housing, Increase in large-scale natural disasters and the resulting lack of insurance coverage, Higher costs for procuring materials due to the weaker yen and other factors, Changes in panel prices and regulations resulting from changes in Chinese government policy, Regulation of utility-scale solar power generation and reputational damage, Intensifying Competition and Price Competition |
| Publication date | 15 May 2026 |
Items this document does not state (8)
Net income targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetNon-financial targetsDate 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.In response to the downturn in the fiscal year ending March 2026, the Company strongly recognized the need for structural reform because extending existing businesses would not generate significant growth. Under the previous medium-term plan, profit declined because equipment failures could not be controlled in the fiscal year ending March 2026.
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