Worth reading
56In 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
60
¥100 million (investment over the three years from the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+12.0%
基準 22,312Target25,000million
Net income for the current fiscal year+247.1%
基準 605Target2,100million
ROE+5.2pt
基準 2.8Target8% (changes in percentage points)
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.
Total investment planAmount ¥60 million / Period Covered Three years from the fiscal year ending March 2027
Investment amount by sectorField Technology and product development / Amount ¥12 million, Field Raw material recycling systems / Amount ¥10 million, Field Waste heat recovery systems / Amount ¥4 million, Field AI image recognition technology / Amount ¥3 million, Field Automation, AI and DX investment / Amount ¥3 million, Field Capacity expansion / Amount ¥8 million, Field Maintenance and renewal of facilities / Amount ¥20 million
Statements about the use of capital
Payout ratio / DOE policyTarget fare level The higher of a consolidated dividend payout ratio of 30% or a DOE (consolidated dividend on equity ratio) of 3.0% / Period Covered Not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of equity: 5.2% for the fiscal year ended March 2022, 4.9% for the fiscal year ended March 2023, 5.7% for the fiscal year ended March 2024, 6.9% for the fiscal year ended March 2025, and 8.1% for the fiscal year ending March 2026. Estimated using CAPM (the capital asset pricing model).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 PBR for the fiscal year ending March 2026 is 0.67x, and the Company’s share price remains undervalued. The Company aims to achieve a PBR of 1.0x for the fiscal year ending March 2029.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01"志" KOKOROZASHI—Vision
02"実" MINORI—Profit
03"礎" ISHIZUE—Base
04Increase sales volume of ASLOC exterior wall panels
05Increase sales volume of products for residential use
06Increase the ratio of value-added products
07Expand sales of environmentally friendly products
08Expand sales of Naturale products
09Address labor shortages
10Enter the on-site coating business as a new business
11Improve production efficiency through NNPS (New Production System) improvement activities
12Advance digital transformation
13Labor-saving measures and automation
14Improve equipment productivity
15Improve electricity and gas use efficiency
16Improve the efficiency of transporting products from production plants to construction sites
17Use the Company’s own waste materials as raw materials
18Use waste materials from other companies as raw materials
19Improve product quality
20Develop the IT environment, utilize AI and promote DX
21Recruit and retain necessary personnel and improve employee motivation and capabilities
22Stakeholder Relations
Plan assumptionsAccelerating technological innovation centered on AI and DX, Population decline and labor shortages, Growing demand for environmental solutions, Increasingly severe natural disasters, Aging infrastructure, The government’s 17 strategic fields, particularly disaster prevention and national resilience
Non-financial targetsIndicator New product sales ratio / Target value 30% or more / Timing Not disclosed, Indicator CO2 emissions / Target value ゼロ / Timing 2050
Reason for revision or withdrawal
To establish "Nozawa’s Mission" as the vision the Company should pursue in achieving the policies and targets described above, while improving capital profitability and market valuation.
| Item | Details |
|---|---|
| Plan name | Medium-term management plan "NOZAWA NEXT3" |
| Plan period | Three years from the fiscal year ending March 2027 (target fiscal year ending March 2029) |
| Progress against the plan | Formulated |
| Sales Target | ¥22,312 million → ¥25,000 million |
| Net income target | ¥605 million → ¥2,100 million |
| ROE target | 2.8 % (changes in percentage points) → 8 % (changes in percentage points) |
| Payout ratio / DOE policy | Target fare level The higher of a consolidated dividend payout ratio of 30% or a DOE (consolidated dividend on equity ratio) of 3.0% / Period Covered Not disclosed |
| Cost of capital | Cost of equity: 5.2% for the fiscal year ended March 2022, 4.9% for the fiscal year ended March 2023, 5.7% for the fiscal year ended March 2024, 6.9% for the fiscal year ended March 2025, and 8.1% for the fiscal year ending March 2026. Estimated using CAPM (the capital asset pricing model). |
| Self-assessment of PBR and share price | The PBR for the fiscal year ending March 2026 is 0.67x, and the Company’s share price remains undervalued. The Company aims to achieve a PBR of 1.0x for the fiscal year ending March 2029. |
| Total investment plan | Amount ¥60 million / Period Covered Three years from the fiscal year ending March 2027 |
| Investment amount by sector | Field Technology and product development / Amount ¥12 million, Field Raw material recycling systems / Amount ¥10 million, Field Waste heat recovery systems / Amount ¥4 million, Field AI image recognition technology / Amount ¥3 million, Field Automation, AI and DX investment / Amount ¥3 million, Field Capacity expansion / Amount ¥8 million, Field Maintenance and renewal of facilities / Amount ¥20 million |
| Non-financial targets | Indicator New product sales ratio / Target value 30% or more / Timing Not disclosed, Indicator CO2 emissions / Target value ゼロ / Timing 2050 |
| Plan assumptions | Accelerating technological innovation centered on AI and DX, Population decline and labor shortages, Growing demand for environmental solutions, Increasingly severe natural disasters, Aging infrastructure, The government’s 17 strategic fields, particularly disaster prevention and national resilience |
| Key initiatives | "志" KOKOROZASHI—Vision, "実" MINORI—Profit, "礎" ISHIZUE—Base, Increase sales volume of ASLOC exterior wall panels, Increase sales volume of products for residential use, Increase the ratio of value-added products, Expand sales of environmentally friendly products, Expand sales of Naturale products, Address labor shortages, Enter the on-site coating business as a new business, Improve production efficiency through NNPS (New Production System) improvement activities, Advance digital transformation, Labor-saving measures and automation, Improve equipment productivity, Improve electricity and gas use efficiency, Improve the efficiency of transporting products from production plants to construction sites, Use the Company’s own waste materials as raw materials, Use waste materials from other companies as raw materials, Improve product quality, Develop the IT environment, utilize AI and promote DX, Recruit and retain necessary personnel and improve employee motivation and capabilities, Stakeholder Relations |
| Reason for revision or withdrawal | To establish "Nozawa’s Mission" as the vision the Company should pursue in achieving the policies and targets described above, while improving capital profitability and market valuation. |
| Date of board resolution | 15 May 2026 |
| Publication date | 15 May 2026 |
Items this document does not state (8)
Operating profit targetOperating profit margin targetROIC targetTreasury share acquisition policySegment targetResults under the previous planSize of the Target MarketRisks identified
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 establish "Nozawa’s Mission" as the vision the Company should pursue in achieving the policies and targets described above, while improving capital profitability and market valuation.
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.