Worth reading
74In focus
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
3
% (FY25-FY28 revenue CAGR)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales-98.6%
基準 2,026Target28hundred million / CAGR
Net income for the current fiscal year+3.0pt
基準 25Target28% (net profit margin)
ROE+3.0pt
基準 25Target28%
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.
ROICNot disclosed → 6% (FY28 target)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planFY25 plan: Revenue of ¥1,050 billion, priority businesses of ¥470 billion, business contribution profit margin of at least 5%, and ROE of at least 5% → FY25 outlook: Revenue of ¥1,075 billion, priority businesses of ¥431.5 billion, business contribution profit margin of 5.0%, and ROE of 5.2%（-8.2% (revenue from priority businesses)）+2.4%Calculated from the two disclosed figures
Total investment plan¥180 billion in total for FY26-FY28 (capital expenditures plus investments and loans)
Investment amount by sectorField Capital expenditures plus investments and loans / Amount ¥180 billion, Field Of which, growth investments / Amount ¥90.0 billion
Statements about the use of capital
Payout ratio / DOE policyNo numerical targets have been provided for the payout ratio or DOE. A total of ¥50 billion over FY26-FY28 will be allocated to “reducing interest-bearing debt and returning profits to shareholders.”The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC 6%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceTo achieve a PBR of 1x, the policy is to raise ROE from 5% in FY2025 to 8% over the medium term and at least 10% over the long term. The plan refers to “management with an awareness of the share price.” The current actual PBR is Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthen ROIC-based management and business portfolio management
02Improve the gross profit margin
03Reduce the SG&A expense ratio
04Improve the financial balance
05Improve asset efficiency
06Promote the commercialization of growth opportunities to achieve sustainable growth
07Sustain profitable growth in the Industry business
08Continue profit growth in the Information Equipment business
09Improve operational efficiency in the Information Equipment business
10Optimize SG&A expenses
11Promote the commercialization of growth opportunities and non-linear growth
12Strengthening the Financial Base
Plan assumptionsForeign exchange: USD = ¥150, EUR = ¥175, Interest rates: Japan is expected to raise rates, the US to cut rates, and Europe to see rates rise or remain flat, US reciprocal tariffs: 22.5% for China and 15% for other countries, Energy: Energy costs are expected to rise as a result of heightened geopolitical risks in the Middle East. From FY27 onward, the increase in costs is expected to ease following an agreement, Materials procurement: The impact of soaring memory prices has been factored in
Segment targetSegment Industry / Net Sales FY25 outlook: ¥129 billion; FY25-FY28 CAGR: 9% / Business Contribution Profit FY25 outlook: ¥21 billion; FY25-FY28 CAGR: 15%, Segment Digital Workplace / Net Sales FY25 outlook: ¥598 billion; FY25-FY28 CAGR: 2% / Business Contribution Profit FY25 outlook: ¥40 billion; FY25-FY28 CAGR: 0%, Segment Professional Print / Net Sales FY25 outlook: ¥250 billion; FY25-FY28 CAGR: 5% / Business Contribution Profit FY25 outlook: ¥11 billion; FY25-FY28 CAGR: 21%, Segment Imaging Solutions (Healthcare and Video Solutions) / Net Sales FY25 outlook: ¥91 billion; FY25-FY28 CAGR: 2% / Business Contribution Profit FY25 outlook: ¥3 billion; FY25-FY28 CAGR: 24%, Segment Corporate and Other / Net Sales FY25 outlook: ¥7 billion / Business Contribution Profit FY25 outlook: negative ¥21 billion; down 10% (simple comparison, not CAGR)
Non-financial targetsIndicator CO2 emissions across the product life cycle (Scopes 1, 2 and 3) / Target value Net Zero by 2050 / Timing 2050, Indicator CO2 emissions reduction contribution / Target value Cumulative 40 million tonnes, exceeding the cumulative CO2 emissions since Konica Minolta was formed / Timing 2050
Risks identified by the company
Actual results may differ depending on the business environment going forward
Higher energy costs resulting from heightened geopolitical risks in the Middle East
US reciprocal tariffs: 22.5% for China and 15% for other countries
Soaring memory prices
Demand fluctuations resulting from a slowdown in the global economy or supply chain risks
Reason for revision or withdrawal
The Company was able to make progress in establishing a foundation and will address the remaining issues to further strengthen its earnings base. The period covered by the medium-term business plan, FY2026-FY2028, has been designated as a period for laying the foundations for long-term growth.
| Item | Details |
|---|---|
| Plan name | Corporate Plan 2026-2028 |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Sales Target | ¥1,075 billion (FY25 outlook, February 2026) → CAGR 3%（FY25-FY28）（3%） |
| Net income target | 2.5% (FY25 outlook) → 3.8% (FY28 target)（Approximately 52.0%） |
| ROE target | 5.2% (FY25 outlook) → 8% (FY28 target)（Approximately 53.8%） |
| ROIC target | Not disclosed → 6% (FY28 target) |
| Payout ratio / DOE policy | No numerical targets have been provided for the payout ratio or DOE. A total of ¥50 billion over FY26-FY28 will be allocated to “reducing interest-bearing debt and returning profits to shareholders.” |
| Cost of capital | WACC 6% |
| Self-assessment of PBR and share price | To achieve a PBR of 1x, the policy is to raise ROE from 5% in FY2025 to 8% over the medium term and at least 10% over the long term. The plan refers to “management with an awareness of the share price.” The current actual PBR is Not disclosed. |
| Total investment plan | ¥180 billion in total for FY26-FY28 (capital expenditures plus investments and loans) |
| Investment amount by sector | Field Capital expenditures plus investments and loans / Amount ¥180 billion, Field Of which, growth investments / Amount ¥90.0 billion |
| Segment target | Segment Industry / Net Sales FY25 outlook: ¥129 billion; FY25-FY28 CAGR: 9% / Business Contribution Profit FY25 outlook: ¥21 billion; FY25-FY28 CAGR: 15%, Segment Digital Workplace / Net Sales FY25 outlook: ¥598 billion; FY25-FY28 CAGR: 2% / Business Contribution Profit FY25 outlook: ¥40 billion; FY25-FY28 CAGR: 0%, Segment Professional Print / Net Sales FY25 outlook: ¥250 billion; FY25-FY28 CAGR: 5% / Business Contribution Profit FY25 outlook: ¥11 billion; FY25-FY28 CAGR: 21%, Segment Imaging Solutions (Healthcare and Video Solutions) / Net Sales FY25 outlook: ¥91 billion; FY25-FY28 CAGR: 2% / Business Contribution Profit FY25 outlook: ¥3 billion; FY25-FY28 CAGR: 24%, Segment Corporate and Other / Net Sales FY25 outlook: ¥7 billion / Business Contribution Profit FY25 outlook: negative ¥21 billion; down 10% (simple comparison, not CAGR) |
| Non-financial targets | Indicator CO2 emissions across the product life cycle (Scopes 1, 2 and 3) / Target value Net Zero by 2050 / Timing 2050, Indicator CO2 emissions reduction contribution / Target value Cumulative 40 million tonnes, exceeding the cumulative CO2 emissions since Konica Minolta was formed / Timing 2050 |
| Plan assumptions | Foreign exchange: USD = ¥150, EUR = ¥175, Interest rates: Japan is expected to raise rates, the US to cut rates, and Europe to see rates rise or remain flat, US reciprocal tariffs: 22.5% for China and 15% for other countries, Energy: Energy costs are expected to rise as a result of heightened geopolitical risks in the Middle East. From FY27 onward, the increase in costs is expected to ease following an agreement, Materials procurement: The impact of soaring memory prices has been factored in |
| Key initiatives | Strengthen ROIC-based management and business portfolio management, Improve the gross profit margin, Reduce the SG&A expense ratio, Improve the financial balance, Improve asset efficiency, Promote the commercialization of growth opportunities to achieve sustainable growth, Sustain profitable growth in the Industry business, Continue profit growth in the Information Equipment business, Improve operational efficiency in the Information Equipment business, Optimize SG&A expenses, Promote the commercialization of growth opportunities and non-linear growth, Strengthening the Financial Base |
| Results under the previous plan | FY25 plan: Revenue of ¥1,050 billion, priority businesses of ¥470 billion, business contribution profit margin of at least 5%, and ROE of at least 5% → FY25 outlook: Revenue of ¥1,075 billion, priority businesses of ¥431.5 billion, business contribution profit margin of 5.0%, and ROE of 5.2%（-8.2% (revenue from priority businesses)） |
| Reason for revision or withdrawal | The Company was able to make progress in establishing a foundation and will address the remaining issues to further strengthen its earnings base. The period covered by the medium-term business plan, FY2026-FY2028, has been designated as a period for laying the foundations for long-term growth. |
| Risks identified | Actual results may differ depending on the business environment going forward, Higher energy costs resulting from heightened geopolitical risks in the Middle East, US reciprocal tariffs: 22.5% for China and 15% for other countries, Soaring memory prices, Demand fluctuations resulting from a slowdown in the global economy or supply chain risks |
| Publication date | 23 April 2026 |
Items this document does not state (5)
Operating profit targetOperating profit margin targetTreasury share acquisition policySize 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.While progress was made in establishing a foundation under the Medium-Term Business Plan (2023-2025), challenges remain, including failure to meet targets in priority businesses, the profitability of certain businesses and the need to improve the financial balance. The new plan aims to address these issues and further strengthen the earnings base.
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