Worth reading
67In 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
150
% (versus the fiscal 2025 operating income forecast for the fiscal 2030 operating income target)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+14.4%
基準 90,000Target103,000million
Operating profit+100.0%
基準 3,500Target7,000million
Net income for the current fiscal year+109.5%
基準 2,100Target4,400million
ROE+5.0pt
基準 2,025Target2,030％
ROIC+5.0pt
基準 2,025Target2,030％
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 planEmployee satisfaction of at least 50% (Fifth Medium-Term Plan) → Initial target achieved (actual figure: Not disclosed)
Total investment plan¥22 billion (¥16.5 billion in maintenance investment plus ¥5.5 billion in growth investment; figures in the table are approximate)
Investment amount by sectorField Maintenance investment / Amount ¥16.5 billion, Field Growth Investment / Amount ¥5.5 billion
Statements about the use of capital
Payout ratio / DOE policyDividends during the Sixth Medium-Term Plan period will, in principle, increase progressively, and the target payout ratio will be raised to 50%. The applicable period is fiscal 2026 through fiscal 2030.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 is expected to remain in the low 4% range and reach approximately 5% in 2030 due to rising interest rates and reductions in interest-bearing debt.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe company aims to improve its PBR by increasing productivity and cash-generating capacity. Current PBR and share price levels: Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Accelerate business portfolio reform
02Improve productivity and capital efficiency
03Concentrated investment: allocate priority resources to electronic materials and life sciences, including healthcare, agriculture and cosmetics
04Global expansion: simultaneously rebuild the “earnings-generating” businesses and pursue growth opportunities in overseas markets
05Deepen environmental management: introduce carbon profitability (ROC), defined as EBITDA divided by CO2 emissions, as a new performance indicator and link improved profitability with decarbonization
06Disciplined resource allocation: continuously review low-profit and non-core businesses based on business evaluations that consider ROIC in addition to growth and profitability
07Strengthen the corporate foundation: transform processes through company-wide projects, increase productivity and cash-generating capacity, and improve PBR
08Expand the electronic materials business, including electronic components and materials for data centers, AI and semiconductors
09Accelerate commercialization of the life sciences business and its contribution to earnings
10Pursue growth opportunities in overseas markets, including paperboard strength additives, hydrogenated petroleum resins and rosin-based resins
11Achieve fundamental improvements in the profitability of businesses targeted for restructuring, including hydrogenated petroleum resins and sizing agents, through production process transformation and other measures
12Transform operating processes centered on strengthening cash-generating capacity and improve the productivity of administrative functions
Plan assumptionsWACC is expected to remain in the low 4% range and reach approximately 5% in 2030, Assumes rising interest rates and reductions in interest-bearing debt, ROIC is calculated using a 30% tax rate for each fiscal year, Future plan figures and initiatives are based on various assumptions
Non-financial targetsIndicator name Serious accidents and serious compliance violations / Target value Zero occurrence / Timing Sixth Medium-Term Plan period, Indicator name Engaged employee ratio / Target value 25% or higher / Timing Sixth Medium-Term Plan period
Risks identified by the company
Achievement of future plan figures and initiatives is neither promised nor guaranteed, as they are based on various assumptions
| Item | Details |
|---|---|
| Plan name | Sixth Medium-Term Five-Year Management Execution Plan |
| Plan period | Fiscal years 2026–2030 |
| Progress against the plan | Formulated |
| Sales Target | ¥85,000 million (fiscal 2025 operating forecast) / ¥90,000 million (Fifth Medium-Term Plan) → ¥103,000 million (fiscal 2030, Sixth Medium-Term Plan) |
| Operating profit target | ¥2,800 million (fiscal 2025 operating forecast) / ¥3,500 million (Fifth Medium-Term Plan) → ¥7,000 million (fiscal 2030, Sixth Medium-Term Plan)（+150% (versus the fiscal 2025 operating forecast)） |
| Net income target | ¥1,800 million (fiscal 2025 operating forecast) / ¥2,100 million (Fifth Medium-Term Plan) → ¥4,400 million (fiscal 2030, Sixth Medium-Term Plan) |
| ROE target | 4.6% (fiscal 2024 actual) / 3.0% (fiscal 2025) → At least 7% (fiscal 2030) |
| ROIC target | 0.9% (fiscal 2024 actual) / 2.3% (fiscal 2025) → At least 5% (fiscal 2030) |
| Payout ratio / DOE policy | Dividends during the Sixth Medium-Term Plan period will, in principle, increase progressively, and the target payout ratio will be raised to 50%. The applicable period is fiscal 2026 through fiscal 2030. |
| Cost of capital | WACC is expected to remain in the low 4% range and reach approximately 5% in 2030 due to rising interest rates and reductions in interest-bearing debt. |
| Self-assessment of PBR and share price | The company aims to improve its PBR by increasing productivity and cash-generating capacity. Current PBR and share price levels: Not disclosed. |
| Total investment plan | ¥22 billion (¥16.5 billion in maintenance investment plus ¥5.5 billion in growth investment; figures in the table are approximate) |
| Investment amount by sector | Field Maintenance investment / Amount ¥16.5 billion, Field Growth Investment / Amount ¥5.5 billion |
| Non-financial targets | Indicator name Serious accidents and serious compliance violations / Target value Zero occurrence / Timing Sixth Medium-Term Plan period, Indicator name Engaged employee ratio / Target value 25% or higher / Timing Sixth Medium-Term Plan period |
| Plan assumptions | WACC is expected to remain in the low 4% range and reach approximately 5% in 2030, Assumes rising interest rates and reductions in interest-bearing debt, ROIC is calculated using a 30% tax rate for each fiscal year, Future plan figures and initiatives are based on various assumptions |
| Key initiatives | Accelerate business portfolio reform, Improve productivity and capital efficiency, Concentrated investment: allocate priority resources to electronic materials and life sciences, including healthcare, agriculture and cosmetics, Global expansion: simultaneously rebuild the “earnings-generating” businesses and pursue growth opportunities in overseas markets, Deepen environmental management: introduce carbon profitability (ROC), defined as EBITDA divided by CO2 emissions, as a new performance indicator and link improved profitability with decarbonization, Disciplined resource allocation: continuously review low-profit and non-core businesses based on business evaluations that consider ROIC in addition to growth and profitability, Strengthen the corporate foundation: transform processes through company-wide projects, increase productivity and cash-generating capacity, and improve PBR, Expand the electronic materials business, including electronic components and materials for data centers, AI and semiconductors, Accelerate commercialization of the life sciences business and its contribution to earnings, Pursue growth opportunities in overseas markets, including paperboard strength additives, hydrogenated petroleum resins and rosin-based resins, Achieve fundamental improvements in the profitability of businesses targeted for restructuring, including hydrogenated petroleum resins and sizing agents, through production process transformation and other measures, Transform operating processes centered on strengthening cash-generating capacity and improve the productivity of administrative functions |
| Results under the previous plan | Employee satisfaction of at least 50% (Fifth Medium-Term Plan) → Initial target achieved (actual figure: Not disclosed) |
| Risks identified | Achievement of future plan figures and initiatives is neither promised nor guaranteed, as they are based on various assumptions |
| Publication date | 30 March 2026 |
Items this document does not state (6)
Operating profit margin targetTreasury share acquisition policySegment targetReason for revision or withdrawalSize 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 transform the Group into the company it aims to be and achieve sustainable growth in corporate value. The company says it will work to strengthen its ability to create value through challenge and transformation, marking its 150th anniversary in November 2026 as a milestone.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.