Worth reading
41Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
496
¥ millions (market capitalization of tradable shares)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Disclosure of progressWhat happened to the previous planThe market capitalization of tradable shares increased from ¥428 million at the end of June 2021 to ¥496 million at the end of June 2026, but decreased by ¥78 million from ¥574 million on the immediately preceding reference date. It remained below the ¥1,000 million listing maintenance requirement as of the end of June 2026
Statements about the use of capital
Payout ratio / DOE policyBasic policy of continuing to pay stable dividends. Specific numerical targets for the payout ratio and DOE are Not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyAcquisition of up to 40,000 shares, total acquisition cost of up to ¥40 million, acquisition period from 7 August 2026 through 31 July 2027
Self-assessment of PBR and share priceThe primary reason the market capitalization of tradable shares is below the requirement is recognized as an insufficient share price level. The market capitalization of tradable shares is ¥496 million, below the ¥1,000 million listing maintenance requirementPBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Initiatives to improve the earnings structure (roof tile manufacturing and sales business)
02Diversification of the earnings base (launch of the real estate leasing business)
03Maintaining the financial base
04Initiatives to enhance shareholder returns and capital efficiency
05Initiatives to restore earnings power
06Initiatives to diversify the earnings base
07Initiatives to improve capital efficiency (ROE)
08Initiatives to strengthen investor relations activities
Plan assumptionsStructural contraction in demand for new housing due to the declining birth rate and population decline, rising construction and material costs, persistently low levels of new housing starts, and capturing renovation demand
Non-financial targetsReduce installation waste for system roof tiles by approximately one-fifth
Risks identified by the company
Non-compliance with the market capitalization of tradable shares criterion
Designation as a security subject to delisting procedures if compliance is not confirmed as of 30 June 2027, followed by delisting on 1 January 2028
Structural contraction in demand for new housing
Increases in construction and material costs, as well as raw material and energy costs
Decline in the share price level
Reason for revision or withdrawal
The share price level is insufficient, against a backdrop of declining earnings power. The Company recorded an operating loss, ordinary loss and net loss for the period, and failed to achieve its target concerning the most important issue of restoring earnings power
| Item | Details |
|---|---|
| Plan name | Plan to Meet the Listing Maintenance Criteria |
| Plan period | Plan submitted on 27 December 2021, through the end of the fiscal year ending June 2027 (64th fiscal year) |
| Progress against the plan | Disclosure of progress |
| Payout ratio / DOE policy | Basic policy of continuing to pay stable dividends. Specific numerical targets for the payout ratio and DOE are Not disclosed |
| Treasury share acquisition policy | Acquisition of up to 40,000 shares, total acquisition cost of up to ¥40 million, acquisition period from 7 August 2026 through 31 July 2027 |
| Self-assessment of PBR and share price | The primary reason the market capitalization of tradable shares is below the requirement is recognized as an insufficient share price level. The market capitalization of tradable shares is ¥496 million, below the ¥1,000 million listing maintenance requirement |
| Non-financial targets | Reduce installation waste for system roof tiles by approximately one-fifth |
| Plan assumptions | Structural contraction in demand for new housing due to the declining birth rate and population decline, rising construction and material costs, persistently low levels of new housing starts, and capturing renovation demand |
| Key initiatives | Initiatives to improve the earnings structure (roof tile manufacturing and sales business), Diversification of the earnings base (launch of the real estate leasing business), Maintaining the financial base, Initiatives to enhance shareholder returns and capital efficiency, Initiatives to restore earnings power, Initiatives to diversify the earnings base, Initiatives to improve capital efficiency (ROE), Initiatives to strengthen investor relations activities |
| Results under the previous plan | The market capitalization of tradable shares increased from ¥428 million at the end of June 2021 to ¥496 million at the end of June 2026, but decreased by ¥78 million from ¥574 million on the immediately preceding reference date. It remained below the ¥1,000 million listing maintenance requirement as of the end of June 2026 |
| Reason for revision or withdrawal | The share price level is insufficient, against a backdrop of declining earnings power. The Company recorded an operating loss, ordinary loss and net loss for the period, and failed to achieve its target concerning the most important issue of restoring earnings power |
| Risks identified | Non-compliance with the market capitalization of tradable shares criterion, Designation as a security subject to delisting procedures if compliance is not confirmed as of 30 June 2027, followed by delisting on 1 January 2028, Structural contraction in demand for new housing, Increases in construction and material costs, as well as raw material and energy costs, Decline in the share price level |
| Date of board resolution | 6 August 2026 (share repurchase) |
| Publication date | 24 September 2026 |
Items this document does not state (11)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetCost of capitalTotal investment planInvestment amount by sectorSegment targetSize 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.The primary reason the market capitalization of tradable shares is below the requirement is that the share price level is insufficient, which is believed to reflect a decline in earnings power.
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.