Worth reading
43Recurring
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
45
¥100 million (ordinary profit plan for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationFY2026 results and the new medium-term management plan for the fiscal years ending March 2027 through March 202911 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net SalesFY2026 72,190; FY2027 720; FY2028 730; FY2029 760FY2026); ¥100 million (FY2027-FY2029
Operating profit3,772 Millions of yen+21.4%
Ordinary incomeFY2026 4,388; FY2027 22; FY2028 40; FY2029 45FY2026); ¥100 million (FY2027-FY2029
Net income3,269 Millions of yen+17.9%
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales¥72.0 billion
Ordinary income¥2.2 billion
Fiscal year ending March 2028
Net Sales¥73.0 billion
Ordinary income¥4 billion
Fiscal year ending March 2029
Net Sales¥76.0 billion
Ordinary income¥4.5 billion
ROEAt least 6%
Equity ratioTargeting the 50% range
What the company explained in this material
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Decline in glass bottle shipments
- Higher depreciation expenses resulting from scheduled repairs to glass bottle melting furnaces
- Impact of the situation in the Middle East
New initiatives
- Capital and business alliance with U.S.-based RedNOx Inc.
- Entry into the next-generation semiconductor materials field through collaboration with Taiwan's ITRI
- Operation of the medium-term management plan on a rolling basis from FY2027
- Expansion of recycling systems related to glass bottles and plastics
- Shareholder benefit program introduced in February 2026
- Implementation of ¥5.0 billion in growth investments and ¥3.6 billion in productivity improvement investments
Key KPIsA metric the company considers important as a management benchmark.
- ROEFY2026 5.9%; FY2029 plan at least 6%; medium- to long-term target at least 8%
- PBRFY2022 0.2x; FY2023 0.2x; FY2024 0.3x; FY2025 0.4x; FY2026 0.5xYear on year against the same period last yearImproved
- PERFY2024 1.4x; FY2025 7.9x; FY2026 8.8xYear on year against the same period last yearImproved
- Glass bottle industry market shareNo.1
- Annual production and sales volume of PET bottle caps5 billion units
- Number of logistics sites41 Location
Segment results
Glass Bottle Business
Net Sales¥45,189 million
Ordinary income¥2,883 million
Plastic business
Net Sales¥8,520 million
Ordinary income¥491 million
Logistics-related business
Net Sales¥14,785 million
Ordinary income¥795 million
New Glass Business
Net Sales¥3,522 million
Ordinary income¥434 million
Medium-term management plan targets
Period CoveredFiscal years ending March 2027 to March 2029
Net SalesFY2029: ¥76.0 billion
Ordinary incomeFY2029: ¥4.5 billion
ROEFY2029: at least 6%; medium- to long-term target: at least 8%
Equity ratioTargeting the 50% range
Financial targets
ROE
Actual resultsFY2026: 5.9%
TargetFY2029: at least 6%; medium- to long-term target: at least 8%
Equity ratio
Actual resultsFY2026: 58.2%
TargetTargeting the 50% range
Market Size / Share
No. 1 share of the glass bottle industry. Market size: not disclosedNumber of stores and locations
Number at period-endLogistics-related business: 41 sites nationwide
Capital expenditures
¥17.0 billiontotal investment for FY2027-FY2029
Annual Dividend
Annual dividend per shareFY2026: ¥150; FY2027 forecast: ¥150
Payout ratio
Consolidated dividend payout ratio of approximately 50%; dividend per share floor of ¥50.| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | FY2026 results and the new medium-term management plan for the fiscal years ending March 2027 through March 2029 |
| Net Sales | FY2026 72,190; FY2027 720; FY2028 730; FY2029 760 |
| Operating profit | 3,772 Millions of yen (YoY +21.4%) |
| Ordinary income | FY2026 4,388; FY2027 22; FY2028 40; FY2029 45 |
| Net income | 3,269 Millions of yen (YoY +17.9%) |
| Full-year earnings forecast | Fiscal year ending March 2027 Net Sales ¥72.0 billion / Ordinary income ¥2.2 billion / ROE Not disclosed / Fiscal year ending March 2028 Net Sales ¥73.0 billion / Ordinary income ¥4 billion / ROE Not disclosed / Fiscal year ending March 2029 Net Sales ¥76.0 billion / Ordinary income ¥4.5 billion / ROE At least 6% / Equity ratio Targeting the 50% range |
| Segment results | Glass Bottle Business Net Sales ¥45,189 million / Ordinary income ¥2,883 million / Year on year against the same period last year Not disclosed / Plastic business Net Sales ¥8,520 million / Ordinary income ¥491 million / Year on year against the same period last year Not disclosed / Logistics-related business Net Sales ¥14,785 million / Ordinary income ¥795 million / Year on year against the same period last year Not disclosed / New Glass Business Net Sales ¥3,522 million / Ordinary income ¥434 million / Year on year against the same period last year Not disclosed |
| Key KPIs | Indicator name ROE / Value FY2026 5.9%; FY2029 plan at least 6%; medium- to long-term target at least 8% / Year on year against the same period last year Not disclosed, Indicator name PBR / Value FY2022 0.2x; FY2023 0.2x; FY2024 0.3x; FY2025 0.4x; FY2026 0.5x / Year on year against the same period last year Improved, Indicator name PER / Value FY2024 1.4x; FY2025 7.9x; FY2026 8.8x / Year on year against the same period last year Improved, Indicator name Glass bottle industry market share / Value No.1 / Year on year against the same period last year Not disclosed, Indicator name Annual production and sales volume of PET bottle caps / Value 5 billion units / Year on year against the same period last year Not disclosed, Indicator name Number of logistics sites / Value 41 Location / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number at period-end Logistics-related business: 41 sites nationwide / Number of store openings and closures during the period Not disclosed |
| Assumptions Underlying the Business Outlook | Decline in glass bottle shipments, Higher depreciation expenses resulting from scheduled repairs to glass bottle melting furnaces, Impact of the situation in the Middle East |
| Medium-term management plan targets | Period Covered Fiscal years ending March 2027 to March 2029 / Net Sales FY2029: ¥76.0 billion / Ordinary income FY2029: ¥4.5 billion / ROE FY2029: at least 6%; medium- to long-term target: at least 8% / Equity ratio Targeting the 50% range |
| Financial targets | ROE Actual results FY2026: 5.9% / Target FY2029: at least 6%; medium- to long-term target: at least 8% / Equity ratio Actual results FY2026: 58.2% / Target Targeting the 50% range |
| Annual Dividend | Annual dividend per share FY2026: ¥150; FY2027 forecast: ¥150 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | Consolidated dividend payout ratio of approximately 50%; dividend per share floor of ¥50. |
| Capital expenditures | ¥17.0 billion |
| Market Size / Share | No. 1 share of the glass bottle industry. Market size: not disclosed |
| New initiatives | Capital and business alliance with U.S.-based RedNOx Inc., Entry into the next-generation semiconductor materials field through collaboration with Taiwan's ITRI, Operation of the medium-term management plan on a rolling basis from FY2027, Expansion of recycling systems related to glass bottles and plastics, Shareholder benefit program introduced in February 2026, Implementation of ¥5.0 billion in growth investments and ¥3.6 billion in productivity improvement investments |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A
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.For the fiscal year ending March 2027, the company expects lower profit due to a decline in glass bottle shipments, higher depreciation expenses resulting from scheduled repairs to glass bottle melting furnaces carried out under the previous medium-term management plan, and the impact of the situation in the Middle East. Thereafter, the company aims to achieve growth by strengthening the earnings base of existing businesses, creating new businesses and restructuring its global operations.
How to read this page
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