Worth reading
64In focus
Scored from 2 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
1
x or higher (PBR)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedROE targetNot disclosed → Aiming to improveROE is the percentage of profit generated from money provided by shareholders.
Statements about the use of capital
Payout ratio / DOE policyThe Company has introduced a progressive dividend policy and will provide stable shareholder returns. Numerical targets and the target period: not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share pricePBR was 0.62x as of the end of March 2026. The Company recognizes that PBR has remained below 1x and aims to improve it to 1x or higher.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Early realization of the integration benefits of 三谷伸銅株式会社
02Expansion of high-value-added products through the sharing of production technologies and know-how
03Reducing procurement costs through group-wide joint purchasing of raw materials and auxiliary materials
04Continued execution of growth investments focused on M&A
05Securing retained earnings and using funds with an emphasis on capital efficiency
06Stable shareholder returns through the introduction of a progressive dividend policy
07Providing information to overseas investors through expanded disclosure in English
08Promoting constructive dialogue with institutional investors
Risks identified by the company
Risk of fluctuations in copper prices
Sluggish domestic demand in the core businesses' markets
Uncertainty regarding market growth prospects
Reason for revision or withdrawal
The content was updated based on the current assessment and analysis, the progress of initiatives and other factors.
| Item | Details |
|---|---|
| Plan name | Response to achieving management that is conscious of the cost of capital and share price |
| Progress against the plan | Partially revised |
| ROE target | Not disclosed → Aiming to improve |
| Payout ratio / DOE policy | The Company has introduced a progressive dividend policy and will provide stable shareholder returns. Numerical targets and the target period: not disclosed |
| Self-assessment of PBR and share price | PBR was 0.62x as of the end of March 2026. The Company recognizes that PBR has remained below 1x and aims to improve it to 1x or higher. |
| Key initiatives | Early realization of the integration benefits of 三谷伸銅株式会社, Expansion of high-value-added products through the sharing of production technologies and know-how, Reducing procurement costs through group-wide joint purchasing of raw materials and auxiliary materials, Continued execution of growth investments focused on M&A, Securing retained earnings and using funds with an emphasis on capital efficiency, Stable shareholder returns through the introduction of a progressive dividend policy, Providing information to overseas investors through expanded disclosure in English, Promoting constructive dialogue with institutional investors |
| Reason for revision or withdrawal | The content was updated based on the current assessment and analysis, the progress of initiatives and other factors. |
| Risks identified | Risk of fluctuations in copper prices, Sluggish domestic demand in the core businesses' markets, Uncertainty regarding market growth prospects |
| Publication date | 21 May 2026 |
Items this document does not state (16)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize 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.Although revenue and operating profit increased due to the consolidation of 三谷伸銅株式会社 as a subsidiary and the sustained high level of copper prices, ordinary profit and net income attributable to owners of the parent declined because of losses on derivative transactions used to hedge the risk of fluctuations in copper prices, resulting in a decline in ROE. The Company also recognizes sluggish domestic demand in its core businesses, uncertainty regarding market growth prospects and the insufficient accumulation of retained earnings in the past as factors contributing to the PBR remaining below 1x, reflecting the Company's inability to meet expectations for shareholder returns sufficiently.
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.