Worth reading
49Recurring
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
15
times (lower end of the 2031 PBR target range of 15–25x)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partial revisionStatements about the use of capital
Self-assessment of PBR and share priceThe current PBR is 1.6x (based on the closing price on 8 October 2026). The company assesses that growth expectations have not yet been reflected in the share price. Previously, the 2031 PBR core range was set at 3.6–6.1x, with a reference upper band of 7.5x; the target has now been reset to 15–25x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Developing the “Capital Markets Curator (Discoverer) Concept”
02Phased expansion of the serial M&A strategy
03Implementing and advancing AI-driven corporate value creation
Plan assumptionsBased on current information and certain assumptions deemed reasonable, For the time being, use approximately ¥4.8 billion in liquid assets (as of the end of June 2026), At this stage, M&A targets are companies with roughly 50 or more years of operating history, revenue of at least ¥1 billion, and an acquisition price of approximately ¥500 million–¥3 billion, In the future, expand the target range to companies with revenue of ¥1 billion–¥30 billion and an acquisition price of approximately ¥500 million–¥5 billion, using bank borrowings, LBOs and other sources of financing
Non-financial targetsIndicator Number of group companies / Target value 10–15 companies / Timing 2031 (five years later)
Risks identified by the company
Success or failure of M&A
Progress in improving management after an acquisition
Interest rates and borrowing terms
Stock market trends
New information and future events
Reason for revision or withdrawal
To make the growth mechanism more concrete based on six months of execution results since the announcement, and to present more clearly the growth outlook driven by serial M&A and management innovation through AI.
| Item | Details |
|---|---|
| Plan name | Medium- to Long-Term Growth Strategy “TRIiS2.0” |
| Plan period | 2026 (announced in April)–2031 (five years later) |
| Progress against the plan | Partial revision |
| Self-assessment of PBR and share price | The current PBR is 1.6x (based on the closing price on 8 October 2026). The company assesses that growth expectations have not yet been reflected in the share price. Previously, the 2031 PBR core range was set at 3.6–6.1x, with a reference upper band of 7.5x; the target has now been reset to 15–25x. |
| Non-financial targets | Indicator Number of group companies / Target value 10–15 companies / Timing 2031 (five years later) |
| Plan assumptions | Based on current information and certain assumptions deemed reasonable, For the time being, use approximately ¥4.8 billion in liquid assets (as of the end of June 2026), At this stage, M&A targets are companies with roughly 50 or more years of operating history, revenue of at least ¥1 billion, and an acquisition price of approximately ¥500 million–¥3 billion, In the future, expand the target range to companies with revenue of ¥1 billion–¥30 billion and an acquisition price of approximately ¥500 million–¥5 billion, using bank borrowings, LBOs and other sources of financing |
| Key initiatives | Developing the “Capital Markets Curator (Discoverer) Concept”, Phased expansion of the serial M&A strategy, Implementing and advancing AI-driven corporate value creation |
| Reason for revision or withdrawal | To make the growth mechanism more concrete based on six months of execution results since the announcement, and to present more clearly the growth outlook driven by serial M&A and management innovation through AI. |
| Risks identified | Success or failure of M&A, Progress in improving management after an acquisition, Interest rates and borrowing terms, Stock market trends, New information and future events |
| Publication date | 15 October 2026 |
Items this document does not state (15)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetResults under the previous planSize 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.To make the growth mechanism more concrete based on six months of execution results since the strategy was announced in April 2026, and to present more clearly the growth outlook driven by serial M&A and management innovation through AI, as well as the valuation level targeted in the capital markets.
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.