Worth reading
51Recurring
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
18000
¥100 million (cumulative investment for fiscal years 2026-2030)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROENot disclosed → 12% in fiscal years 2027-2028 and 13% in fiscal year 2030 (under IFRS)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNot disclosed → Fiscal 2025 results: exceeded targets for operating income plus equity-method earnings and ROE
Total investment plan¥1,800 billion (cumulative for fiscal years 2026-2030)
Statements about the use of capital
Payout ratio / DOE policyMaintain a total payout ratio of at least 50% of net income excluding inventory valuation effects. Introduce performance-linked progressive dividends, with the first year's annual dividend of ¥36 as the floor. The applicable period is the medium-term management plan period (fiscal years 2026-2030).The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01GRIT — Deepening existing businesses
02GROWTH — Creating growth businesses
03CNX — Taking on the challenge of low-carbon and decarbonization businesses
04Making every employee a driving force for transformation
05More co-creation & innovation
06Strengthening business foundations and promoting value creation
07DX/AX strategy
08Innovation Strategy
09GHG reduction
Non-financial targetsIndicator name CO₂ emissions (Scope 1 + 2) / Target value 30–46% reduction from 2013 / Timing 2030, Indicator name Carbon Intensity（Scope1+2+3） / Target value 20-50% reduction from 2020 / Timing 2040, Indicator name Carbon Neutrality / Target value Actual reduction / Timing 2050
Risks identified by the company
Increasing future uncertainty
Changes in the timeline for decarbonization
Escalation of tensions in the Middle East
Emergence of energy security risks
One-off external factors, including fluctuations in crude oil prices
Reason for revision or withdrawal
Future uncertainty is increasing further due to changes in the timeline for decarbonization originating in Europe and the United States, as well as the emergence of energy security risks, including escalating tensions in the Middle East. In light of this situation, the Company will rebalance its business strategy and revise its GHG reduction targets to range-based targets to enable a flexible and agile response to the uncertain business environment.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years 2026–2030) |
| Plan period | Fiscal 2026-2030 |
| Progress against the plan | Formulated |
| ROE target | Not disclosed → 12% in fiscal years 2027-2028 and 13% in fiscal year 2030 (under IFRS) |
| Payout ratio / DOE policy | Maintain a total payout ratio of at least 50% of net income excluding inventory valuation effects. Introduce performance-linked progressive dividends, with the first year's annual dividend of ¥36 as the floor. The applicable period is the medium-term management plan period (fiscal years 2026-2030). |
| Total investment plan | ¥1,800 billion (cumulative for fiscal years 2026-2030) |
| Non-financial targets | Indicator name CO₂ emissions (Scope 1 + 2) / Target value 30–46% reduction from 2013 / Timing 2030, Indicator name Carbon Intensity（Scope1+2+3） / Target value 20-50% reduction from 2020 / Timing 2040, Indicator name Carbon Neutrality / Target value Actual reduction / Timing 2050 |
| Key initiatives | GRIT — Deepening existing businesses, GROWTH — Creating growth businesses, CNX — Taking on the challenge of low-carbon and decarbonization businesses, Making every employee a driving force for transformation, More co-creation & innovation, Strengthening business foundations and promoting value creation, DX/AX strategy, Innovation Strategy, GHG reduction |
| Results under the previous plan | Not disclosed → Fiscal 2025 results: exceeded targets for operating income plus equity-method earnings and ROE |
| Reason for revision or withdrawal | Future uncertainty is increasing further due to changes in the timeline for decarbonization originating in Europe and the United States, as well as the emergence of energy security risks, including escalating tensions in the Middle East. In light of this situation, the Company will rebalance its business strategy and revise its GHG reduction targets to range-based targets to enable a flexible and agile response to the uncertain business environment. |
| Risks identified | Increasing future uncertainty, Changes in the timeline for decarbonization, Escalation of tensions in the Middle East, Emergence of energy security risks, One-off external factors, including fluctuations in crude oil prices |
| Date of board resolution | 12 May 2026 |
| Publication date | 12 May 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceInvestment amount by sectorSegment targetPlan assumptionsSize of the Target Market
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.As uncertainty in the business environment has increased due to changes in the timeline for decarbonization and escalating tensions in the Middle East, the Company will rebalance its business strategy and strengthen its earnings power through a more practical approach. The GHG reduction targets were revised to enable a flexible and agile response to the uncertain business environment. The voluntary adoption of IFRS is intended to improve the international comparability of financial information and group management through the standardization of accounting principles.
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.