Worth reading
81Important
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 millionWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+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).
What happened to the previous plan¥230 billion (FY2025) / ¥600 billion (FY2023–FY2025 cumulative) → ¥244.1 billion (FY2025) / ¥769.3 billion (FY2023–FY2025 cumulative)0.0%Calculated from the two disclosed figures
Total investment plan¥1,800 billion cumulative for FY2026–FY2030
Investment amount by sectorField GRIT / Amount ¥830 billion (including ¥760 billion in sustaining capital investment), Field GROWTH＆CNX / Amount ¥810 billion, Field Business platforms / Amount ¥160 billion (including ¥110 billion in sustaining capital investment), Field Electrification, electric mobility and ICT / Amount ¥260.0 billion, Field Global Expansion / Amount ¥350 billion, Field Mobility and circular economy / Amount ¥100 billion, Field CNX / Amount ¥100 billion
Statements about the use of capital
Payout ratio / DOE policyMaintain a total payout ratio of at least 50% for FY2026–FY2030. Introduce progressive dividends with an annual dividend per share floor of ¥36. Policy is to increase the allocation to dividends.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe framework, timing and terms of future share buybacks are not disclosed. In FY2024, we conducted a ¥100 billion share buyback.
Self-assessment of PBR and share priceAim to consistently achieve a PBR above 1x. The current PBR is not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01GRIT: Deepening existing businesses
02GROWTH: Creating growth businesses
03CNX: Taking on the challenge of low-carbon and decarbonization businesses
04Maintaining the network of designated distributors and service stations
05Structural reform of underperforming businesses
06Providing key materials and solutions in integrated electrification, electric mobility and ICT fields
07Further global expansion: capturing overseas growth markets
08Developing mobility services by leveraging our nationwide service-station network (Smart Yorozuya)
09Developing circular businesses with a view to expanding the circular economy
10DX/AX strategy
11Innovation strategy (R&D/CVC)
12Intellectual property strategy
13Governance and ERM
14Safety, environmental and quality management
15GHG reduction targets
16Shareholder Returns
Plan assumptionsItem Dubai crude oil / FY2025 actual $71.8 /BBL / Fiscal 2026 Plan $81.3 /BBL / Fiscal 2027 plan $65.0 /BBL / Fiscal 2028 plan $65.0 /BBL / FY2030 plan $65.0 /BBL, Item Australian thermal coal spot price / FY2025 actual $105.4 /t / Fiscal 2026 Plan $126.1 /t / Fiscal 2027 plan $115.0 /t / Fiscal 2028 plan $120.0 /t / FY2030 plan $130.0 /t, Item US dollar exchange rate / FY2025 actual ¥150.7 /$ / Fiscal 2026 Plan ¥151.3 /$ / Fiscal 2027 plan ¥150.0 /$ / Fiscal 2028 plan ¥150.0 /$ / FY2030 plan ¥150.0 /$, Item Paraxylene Asian product spread / FY2025 actual $259 /t / Fiscal 2026 Plan $269 /t / Fiscal 2027 plan $300 /t / Fiscal 2028 plan $300 /t / FY2030 plan $330 /t, Item Styrene monomer Asian product spread / FY2025 actual $330 /t / Fiscal 2026 Plan $327 /t / Fiscal 2027 plan $350 /t / Fiscal 2028 plan $375 /t / FY2030 plan $425 /t
Segment targetSegment Fuel oil / FY2030 pretax profit (excluding finance costs) ¥225 billion, Segment Basic Chemicals / FY2030 pretax profit (excluding finance costs) ¥23.0 billion, Segment High-Performance Materials / FY2030 pretax profit (excluding finance costs) ¥62.0 billion, Segment Power and renewable energy / FY2030 pretax profit (excluding finance costs) ¥14.0 billion, Segment Resource / FY2030 pretax profit (excluding finance costs) ¥74.0 billion, Segment Other / FY2030 pretax profit (excluding finance costs) -¥38 billion, Segment Company-wide Total / FY2030 pretax profit (excluding finance costs) ¥360 billion
Non-financial targetsIndicator Idemitsu Engagement Index (EI) / Target 80% / Timing FY2030, Indicator Adoption rate of the Code of Conduct / Target 95% / Timing FY2030, Indicator Number of advanced practitioners of the Code of Conduct / Target 2,000 people / Timing FY2030, Indicator Percentage of overseas subsidiaries appointing national staff to management positions / Target 80% / Timing FY2030, Indicator Percentage of women in management positions / Target 10% / Timing FY2030, Indicator Percentage of female hires (administrative positions) / Target 50% / Timing FY2030, Indicator Percentage of female hires (technical positions) / Target 20% / Timing FY2030, Indicator Percentage of men taking parental leave / Target 90% / Timing FY2030, Indicator Operating rate (excluding scheduled maintenance) / Target At least 90% / Timing Around FY2030, Indicator CO2 emissions (Scope 1 + 2) / Target 30–46% reduction from 2013 / Timing 2030, Indicator Carbon Neutrality / Target Actual reduction / Timing 2050, Indicator Monthly active users of mobility-related applications / Target 4 million / Timing During the plan period
Size of the Target MarketMarket All-solid-state batteries / Size and growth rate CAGR of +23% (market size shown in a graph in trillions of yen) / As of 2024–2045 / Source Fuji Keizai, “2025 Overview of Next-Generation Battery-Related Technologies and Markets”, Market Mobility market (our target market) / Size and growth rate ¥19 trillion / As of As of 2030 / Source Company estimate, Market Global final consumption of natural gas (including LNG) / Size and growth rate CAGR of +2% (LNG: +4%) / As of 2024–2040 / Source IEA, “World Energy Outlook 2025,” and other external data, Market Post-consumer plastics in Japan / Size and growth rate 9.11 million tonnes (2024); chemical recycling feedstock target of 6.08 million tonnes per year / As of 2024 / Source Plastic Management and Recycling Association of Japan, “Status of Production, Disposal, Recycling and Treatment of Plastic Products in 2024”
Risks identified by the company
Energy security risks arising from conflicts in the Middle East and Ukraine
US policy risks and continuing global inflation
US tariffs and supply chain disruptions
Rising raw material, transportation and construction costs
Uncertainty regarding the long-term outlook for fossil fuel demand
Fluctuations in decarbonization and fossil fuel demand resulting from government policies and technological development in each country
Declining working-age population in Japan, labor shortages and rising labor costs
Geopolitical risk
Changes in market and regulatory conditions
Natural Disasters
Safety, environmental and quality risks
Data governance and cybersecurity risks
Reason for revision or withdrawal
In response to increasing uncertainty in the business environment, we will rebalance our business strategy and achieve medium- to long-term growth by strengthening our earning power through a more practical approach.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years 2026–2030) |
| Plan period | Fiscal 2026-2030 |
| Progress against the plan | Formulated |
| ROE target | 10.6% (FY2025 actual) → At least 13% (FY2030 target) |
| ROIC target | 6.5% (FY2025 actual) → At least 7% (FY2030 target) |
| Payout ratio / DOE policy | Maintain a total payout ratio of at least 50% for FY2026–FY2030. Introduce progressive dividends with an annual dividend per share floor of ¥36. Policy is to increase the allocation to dividends. |
| Treasury share acquisition policy | The framework, timing and terms of future share buybacks are not disclosed. In FY2024, we conducted a ¥100 billion share buyback. |
| Self-assessment of PBR and share price | Aim to consistently achieve a PBR above 1x. The current PBR is not disclosed. |
| Total investment plan | ¥1,800 billion cumulative for FY2026–FY2030 |
| Investment amount by sector | Field GRIT / Amount ¥830 billion (including ¥760 billion in sustaining capital investment), Field GROWTH＆CNX / Amount ¥810 billion, Field Business platforms / Amount ¥160 billion (including ¥110 billion in sustaining capital investment), Field Electrification, electric mobility and ICT / Amount ¥260.0 billion, Field Global Expansion / Amount ¥350 billion, Field Mobility and circular economy / Amount ¥100 billion, Field CNX / Amount ¥100 billion |
| Segment target | Segment Fuel oil / FY2030 pretax profit (excluding finance costs) ¥225 billion, Segment Basic Chemicals / FY2030 pretax profit (excluding finance costs) ¥23.0 billion, Segment High-Performance Materials / FY2030 pretax profit (excluding finance costs) ¥62.0 billion, Segment Power and renewable energy / FY2030 pretax profit (excluding finance costs) ¥14.0 billion, Segment Resource / FY2030 pretax profit (excluding finance costs) ¥74.0 billion, Segment Other / FY2030 pretax profit (excluding finance costs) -¥38 billion, Segment Company-wide Total / FY2030 pretax profit (excluding finance costs) ¥360 billion |
| Non-financial targets | Indicator Idemitsu Engagement Index (EI) / Target 80% / Timing FY2030, Indicator Adoption rate of the Code of Conduct / Target 95% / Timing FY2030, Indicator Number of advanced practitioners of the Code of Conduct / Target 2,000 people / Timing FY2030, Indicator Percentage of overseas subsidiaries appointing national staff to management positions / Target 80% / Timing FY2030, Indicator Percentage of women in management positions / Target 10% / Timing FY2030, Indicator Percentage of female hires (administrative positions) / Target 50% / Timing FY2030, Indicator Percentage of female hires (technical positions) / Target 20% / Timing FY2030, Indicator Percentage of men taking parental leave / Target 90% / Timing FY2030, Indicator Operating rate (excluding scheduled maintenance) / Target At least 90% / Timing Around FY2030, Indicator CO2 emissions (Scope 1 + 2) / Target 30–46% reduction from 2013 / Timing 2030, Indicator Carbon Neutrality / Target Actual reduction / Timing 2050, Indicator Monthly active users of mobility-related applications / Target 4 million / Timing During the plan period |
| Plan assumptions | Item Dubai crude oil / FY2025 actual $71.8 /BBL / Fiscal 2026 Plan $81.3 /BBL / Fiscal 2027 plan $65.0 /BBL / Fiscal 2028 plan $65.0 /BBL / FY2030 plan $65.0 /BBL, Item Australian thermal coal spot price / FY2025 actual $105.4 /t / Fiscal 2026 Plan $126.1 /t / Fiscal 2027 plan $115.0 /t / Fiscal 2028 plan $120.0 /t / FY2030 plan $130.0 /t, Item US dollar exchange rate / FY2025 actual ¥150.7 /$ / Fiscal 2026 Plan ¥151.3 /$ / Fiscal 2027 plan ¥150.0 /$ / Fiscal 2028 plan ¥150.0 /$ / FY2030 plan ¥150.0 /$, Item Paraxylene Asian product spread / FY2025 actual $259 /t / Fiscal 2026 Plan $269 /t / Fiscal 2027 plan $300 /t / Fiscal 2028 plan $300 /t / FY2030 plan $330 /t, Item Styrene monomer Asian product spread / FY2025 actual $330 /t / Fiscal 2026 Plan $327 /t / Fiscal 2027 plan $350 /t / Fiscal 2028 plan $375 /t / FY2030 plan $425 /t |
| Key initiatives | GRIT: Deepening existing businesses, GROWTH: Creating growth businesses, CNX: Taking on the challenge of low-carbon and decarbonization businesses, Maintaining the network of designated distributors and service stations, Structural reform of underperforming businesses, Providing key materials and solutions in integrated electrification, electric mobility and ICT fields, Further global expansion: capturing overseas growth markets, Developing mobility services by leveraging our nationwide service-station network (Smart Yorozuya), Developing circular businesses with a view to expanding the circular economy, DX/AX strategy, Innovation strategy (R&D/CVC), Intellectual property strategy, Governance and ERM, Safety, environmental and quality management, GHG reduction targets, Shareholder Returns |
| Results under the previous plan | ¥230 billion (FY2025) / ¥600 billion (FY2023–FY2025 cumulative) → ¥244.1 billion (FY2025) / ¥769.3 billion (FY2023–FY2025 cumulative) |
| Reason for revision or withdrawal | In response to increasing uncertainty in the business environment, we will rebalance our business strategy and achieve medium- to long-term growth by strengthening our earning power through a more practical approach. |
| Size of the Target Market | Market All-solid-state batteries / Size and growth rate CAGR of +23% (market size shown in a graph in trillions of yen) / As of 2024–2045 / Source Fuji Keizai, “2025 Overview of Next-Generation Battery-Related Technologies and Markets”, Market Mobility market (our target market) / Size and growth rate ¥19 trillion / As of As of 2030 / Source Company estimate, Market Global final consumption of natural gas (including LNG) / Size and growth rate CAGR of +2% (LNG: +4%) / As of 2024–2040 / Source IEA, “World Energy Outlook 2025,” and other external data, Market Post-consumer plastics in Japan / Size and growth rate 9.11 million tonnes (2024); chemical recycling feedstock target of 6.08 million tonnes per year / As of 2024 / Source Plastic Management and Recycling Association of Japan, “Status of Production, Disposal, Recycling and Treatment of Plastic Products in 2024” |
| Risks identified | Energy security risks arising from conflicts in the Middle East and Ukraine, US policy risks and continuing global inflation, US tariffs and supply chain disruptions, Rising raw material, transportation and construction costs, Uncertainty regarding the long-term outlook for fossil fuel demand, Fluctuations in decarbonization and fossil fuel demand resulting from government policies and technological development in each country, Declining working-age population in Japan, labor shortages and rising labor costs, Geopolitical risk, Changes in market and regulatory conditions, Natural Disasters, Safety, environmental and quality risks, Data governance and cybersecurity risks |
| Publication date | 12 May 2026 |
Items this document does not state (6)
Sales TargetOperating profit targetOperating profit margin targetNet income targetCost of capitalDate 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 achieve medium- to long-term growth by rebalancing our business strategy in response to increasing uncertainty in the business environment and strengthening our earning power through a more practical approach.
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