Worth reading
88Important
Scored from 4 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
300
¥100 million (ordinary profit, early in the 26 Mid-Term Plan period)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROIC+1.0pt
基準 25Target26％
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 planMore than 30 billion (ordinary profit target under the 23 Mid-Term Plan) → ¥23.6 billion (FY25 actual)-16.7%Calculated from the two disclosed figures
Total investment planAmount 1,100 Hundreds of millions of yen / Period Covered Fiscal years 2026-2028
Investment amount by sectorField Research and Development / Amount 200 Hundreds of millions of yen, Field Capital investment, growth and new products / Amount 250 Hundreds of millions of yen, Field Capital investment, labor saving and safety / Amount 450 Hundreds of millions of yen, Field Capital investment, maintenance and renewal / Amount 300 Hundreds of millions of yen, Field DX and AI-enabled operational transformation support within capital investment / Amount 20 Hundreds of millions of yen, Field Co-creation investments, M&A and other initiatives / Amount 100 Hundreds of millions of yen
Statements about the use of capital
Payout ratio / DOE policyTotal payout ratio of approximately 40% during the 26 Mid-Term Plan period, including share buybacks. This is an increase from the total payout ratio of at least 30% under the 23 Mid-Term Plan.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 company plans to conduct share buybacks within the total payout ratio of approximately 40%. The specific buyback amount, timing and terms have not been disclosed.
Key initiatives
01Creating new value
02Process transformation
03Promoting closed-loop recycling
04Developing upgrade-recycling technologies
05Building global recycling flows
06Selling circular-economy products
07Accelerating product and business portfolio changes
08Synergies among business groups (cross-functional reorganization)
09Resource allocation by business group (people, equipment and capital)
10Rebuilding the overseas strategy
11M&A planning and support
12Implementing workforce reduction through greater automation (deploying personnel in operations, technology and systems)
13Supporting transformation of manufacturing processes
14Business transformation (deploying personnel in operations and systems)
15Building a data-driven organization
16Communication through messages from the management team (Future Meetings, Compass Meetings and other initiatives)
17Continuing organizational culture reform
Non-financial targetsIndicator name GHG Emissions / Target value 30% reduction by FY30 (vs. FY13) / Timing F30, Indicator name GHG Emissions / Target value Net zero by FY50 / Timing F50
Risks identified by the company
Volatility in aluminum ingot, fuel and raw material prices
International instability and geopolitical risks
Changes in economic conditions
Social trends
Changes in relative competitiveness due to trends in demand for products and services
Slower growth in BEV demand
Delayed recovery in semiconductor demand
Reason for revision or withdrawal
Although the company focused on achieving higher profit for 3 consecutive periods and improving capital efficiency, the target was not achieved due in part to the postponement of demand in priority areas such as semiconductors and BEVs. The company stated that it is essential to pursue growth and efficiency improvements simultaneously.
| Item | Details |
|---|---|
| Plan name | Long-Term Vision “2035 Vision” and Medium-Term Management Plan “26 Mid-Term Plan” |
| Plan period | 2035 Vision 2035 / 26 Medium-Term Management Plan FY2026-FY2028 |
| Progress against the plan | Formulated |
| ROIC target | 5.9% (FY25 actual) → At least 8% (26 Mid-Term Plan) |
| Payout ratio / DOE policy | Total payout ratio of approximately 40% during the 26 Mid-Term Plan period, including share buybacks. This is an increase from the total payout ratio of at least 30% under the 23 Mid-Term Plan. |
| Treasury share acquisition policy | The company plans to conduct share buybacks within the total payout ratio of approximately 40%. The specific buyback amount, timing and terms have not been disclosed. |
| Total investment plan | Amount 1,100 Hundreds of millions of yen / Period Covered Fiscal years 2026-2028 |
| Investment amount by sector | Field Research and Development / Amount 200 Hundreds of millions of yen, Field Capital investment, growth and new products / Amount 250 Hundreds of millions of yen, Field Capital investment, labor saving and safety / Amount 450 Hundreds of millions of yen, Field Capital investment, maintenance and renewal / Amount 300 Hundreds of millions of yen, Field DX and AI-enabled operational transformation support within capital investment / Amount 20 Hundreds of millions of yen, Field Co-creation investments, M&A and other initiatives / Amount 100 Hundreds of millions of yen |
| Non-financial targets | Indicator name GHG Emissions / Target value 30% reduction by FY30 (vs. FY13) / Timing F30, Indicator name GHG Emissions / Target value Net zero by FY50 / Timing F50 |
| Key initiatives | Creating new value, Process transformation, Promoting closed-loop recycling, Developing upgrade-recycling technologies, Building global recycling flows, Selling circular-economy products, Accelerating product and business portfolio changes, Synergies among business groups (cross-functional reorganization), Resource allocation by business group (people, equipment and capital), Rebuilding the overseas strategy, M&A planning and support, Implementing workforce reduction through greater automation (deploying personnel in operations, technology and systems), Supporting transformation of manufacturing processes, Business transformation (deploying personnel in operations and systems), Building a data-driven organization, Communication through messages from the management team (Future Meetings, Compass Meetings and other initiatives), Continuing organizational culture reform |
| Results under the previous plan | More than 30 billion (ordinary profit target under the 23 Mid-Term Plan) → ¥23.6 billion (FY25 actual) |
| Reason for revision or withdrawal | Although the company focused on achieving higher profit for 3 consecutive periods and improving capital efficiency, the target was not achieved due in part to the postponement of demand in priority areas such as semiconductors and BEVs. The company stated that it is essential to pursue growth and efficiency improvements simultaneously. |
| Risks identified | Volatility in aluminum ingot, fuel and raw material prices, International instability and geopolitical risks, Changes in economic conditions, Social trends, Changes in relative competitiveness due to trends in demand for products and services, Slower growth in BEV demand, Delayed recovery in semiconductor demand |
| Publication date | 15 May 2026 |
Items this document does not state (11)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetCost of capitalSelf-assessment of PBR and share priceSegment targetPlan assumptionsSize of the Target MarketDate 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 plan was formulated using a backcasting approach to realize the company’s vision of what value it will provide in 2035 and how it will contribute to society. The company stated that the plan addresses challenges including changes in the mobility, semiconductor and carbon-neutrality markets, a shortage of new products and businesses, aging facilities, and increasing difficulty in securing employees due to Japan’s declining population.
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.