Worth reading
75Important
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
200
¥100 million (increase in the fiscal year ending March 2029 revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+5.3%
基準 3,800Target4,000Hundreds of millions of yen
Operating profit+8.1%
基準 370Target400Hundreds of millions of yen
Operating profit margin+0.3pt
基準 9.7Target10％
ROE0.0pt
基準 11Target11％
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.
Statements about the use of capital
Payout ratio / DOE policyThe Company targets a consolidated dividend payout ratio of at least 35% and will pay dividends with a DOE (consolidated dividend on equity ratio) of 2.5% as the lower limit. The applicable period is JGP2028.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Sustainably increase the value of existing businesses
02Create and develop new businesses
03Expand investment in intangible assets, including investment in people
04Strengthening Corporate Governance
05Capture the recovery in demand in China while allocating management resources on a priority basis to growth regions such as India and the Middle East
06Accelerate the globalization of plastic molding machines, focusing on expanding market share in Europe and increasing sales of electric machines in India
07Further increase supply capacity through optimal-location production and mutual complementarity to meet growing demand
08Establish a production system for F-ELA equipment and strengthen efforts to capture demand for equipment and after-sales services
09Increase production capacity for rotor shafts for high-efficiency thermal power generation by 1.5 times
10Double production capacity for nuclear power products by the fiscal year ending March 2029
11Accelerate customer evaluations and preparations for mass production of gallium nitride (GaN) crystals and lithium niobate (LN) crystals, with the aim of commercializing these businesses at an early stage
Plan assumptionsGlobal plastics demand is expected to grow at a CAGR of 4.7% through 2034., Actual results and other outcomes may differ significantly due to various factors.
Segment targetSegment Industrial-Machinery Business / Sales Target 3,180 Hundreds of millions of yen → 3,150 Hundreds of millions of yen / Operating profit target 320 Hundreds of millions of yen → 285 Hundreds of millions of yen, Segment Near-Net-Shape Materials and Engineering Business / Sales Target 525 Hundreds of millions of yen → 800 Hundreds of millions of yen / Operating profit target 140 Hundreds of millions of yen → 160 Hundreds of millions of yen
Non-financial targetsIndicator Percentage of outside directors / Target value 50％ / Timing Fiscal year ended March 2026: actual, Indicator Outside corporate auditor ratio / Target value 50％ / Timing Fiscal year ended March 2026: actual, Indicator Percentage of female directors / Target value 20％ / Timing Fiscal year ended March 2026: actual, Indicator Female corporate auditor ratio / Target value 25％ / Timing Fiscal year ended March 2026: actual, Indicator Cross-shareholdings as a percentage of consolidated net assets / Target value 10% or less / Timing Fiscal year ending March 2027
Size of the Target MarketThe humanoid robot market is projected to reach approximately ¥8.0 trillion and approximately 800,000 units in 2033. The market for high-multilayer printed circuit boards for data centers is expected to be 1.8 times the fiscal year ending March 2025 level in the fiscal year ending March 2029. Sources: various materials, Company research, and materials prepared by the Company based on various sources.
Risks identified by the company
Stagnation in capital investment due to EV demand falling below expectations
Widening supply-demand gap
Geopolitical risk
Changes in the market environment
Actual results and other outcomes may differ from the assumptions
Reason for revision or withdrawal
The market environment for major products has changed significantly since the medium-term management plan was formulated. The business strategies have been revised in light of slower growth in the EV market, heightened geopolitical risks, changes in energy policy, the rapid spread of AI and the increase in data centers, among other factors.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan JGP2028 |
| Plan period | Fiscal years ending March 2025 to March 2029 |
| Progress against the plan | Partially revised |
| Sales Target | 3,800 Hundreds of millions of yen → 4,000 Hundreds of millions of yen（＋5.3％） |
| Operating profit target | 370 Hundreds of millions of yen → 400 Hundreds of millions of yen（＋8.1％） |
| Operating profit margin target | 9.7 ％ → 10 ％（＋0.3PP） |
| ROE target | 10～11％ → 10～11％ |
| Payout ratio / DOE policy | The Company targets a consolidated dividend payout ratio of at least 35% and will pay dividends with a DOE (consolidated dividend on equity ratio) of 2.5% as the lower limit. The applicable period is JGP2028. |
| Segment target | Segment Industrial-Machinery Business / Sales Target 3,180 Hundreds of millions of yen → 3,150 Hundreds of millions of yen / Operating profit target 320 Hundreds of millions of yen → 285 Hundreds of millions of yen, Segment Near-Net-Shape Materials and Engineering Business / Sales Target 525 Hundreds of millions of yen → 800 Hundreds of millions of yen / Operating profit target 140 Hundreds of millions of yen → 160 Hundreds of millions of yen |
| Non-financial targets | Indicator Percentage of outside directors / Target value 50％ / Timing Fiscal year ended March 2026: actual, Indicator Outside corporate auditor ratio / Target value 50％ / Timing Fiscal year ended March 2026: actual, Indicator Percentage of female directors / Target value 20％ / Timing Fiscal year ended March 2026: actual, Indicator Female corporate auditor ratio / Target value 25％ / Timing Fiscal year ended March 2026: actual, Indicator Cross-shareholdings as a percentage of consolidated net assets / Target value 10% or less / Timing Fiscal year ending March 2027 |
| Plan assumptions | Global plastics demand is expected to grow at a CAGR of 4.7% through 2034., Actual results and other outcomes may differ significantly due to various factors. |
| Key initiatives | Sustainably increase the value of existing businesses, Create and develop new businesses, Expand investment in intangible assets, including investment in people, Strengthening Corporate Governance, Capture the recovery in demand in China while allocating management resources on a priority basis to growth regions such as India and the Middle East, Accelerate the globalization of plastic molding machines, focusing on expanding market share in Europe and increasing sales of electric machines in India, Further increase supply capacity through optimal-location production and mutual complementarity to meet growing demand, Establish a production system for F-ELA equipment and strengthen efforts to capture demand for equipment and after-sales services, Increase production capacity for rotor shafts for high-efficiency thermal power generation by 1.5 times, Double production capacity for nuclear power products by the fiscal year ending March 2029, Accelerate customer evaluations and preparations for mass production of gallium nitride (GaN) crystals and lithium niobate (LN) crystals, with the aim of commercializing these businesses at an early stage |
| Reason for revision or withdrawal | The market environment for major products has changed significantly since the medium-term management plan was formulated. The business strategies have been revised in light of slower growth in the EV market, heightened geopolitical risks, changes in energy policy, the rapid spread of AI and the increase in data centers, among other factors. |
| Size of the Target Market | The humanoid robot market is projected to reach approximately ¥8.0 trillion and approximately 800,000 units in 2033. The market for high-multilayer printed circuit boards for data centers is expected to be 1.8 times the fiscal year ending March 2025 level in the fiscal year ending March 2029. Sources: various materials, Company research, and materials prepared by the Company based on various sources. |
| Risks identified | Stagnation in capital investment due to EV demand falling below expectations, Widening supply-demand gap, Geopolitical risk, Changes in the market environment, Actual results and other outcomes may differ from the assumptions |
| Publication date | 13 July 2026 |
Items this document does not state (9)
Net income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorResults under the previous planDate 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.The market environment for major products has changed significantly since the medium-term management plan was formulated, due to slower growth in the EV market, heightened geopolitical risks, changes in energy policy, the rapid spread of AI and the increase in data centers, among other factors.
How to read this page
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