Worth reading
38Recurring
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
35
¥100 millionWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+2,017.0pt
基準 9Target2,026％
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).
Total investment planAmount ¥7.1 billion
Investment amount by sectorField Capital Expenditure / Amount ¥5.1 billion, Field R&D Investment / Amount ¥2 billion
Statements about the use of capital
Payout ratio / DOE policy段階的に配当性向を引上げ、PROGRESS 2026の最終年度に配当性向30％以上を目標とする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 policy状況に応じて自己株式の取得を行うことも検討する
Cost of capital株主資本コスト（推定約７％）The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBRは過去５年間0.3～0.5倍の間で推移していると認識PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01事業成長と収益性向上
02Enhancement of shareholder returns
03Enhancement of IR activities
04Growth Strategy
05Production Strategy
06Strengthening the Management Platform
07Management with an awareness of the cost of capital
Risks identified by the company
Business risks
| Item | Details |
|---|---|
| Plan name | PROGRESS 2026 |
| Plan period | Starting fiscal year Not disclosed / Final year PROGRESS 2026の最終年度 |
| Progress against the plan | Formulated |
| ROE target | 9％程度（2022年、特殊要因除き） → 10％（PROGRESS 2026の最終年度） |
| Payout ratio / DOE policy | 段階的に配当性向を引上げ、PROGRESS 2026の最終年度に配当性向30％以上を目標とする |
| Treasury share acquisition policy | 状況に応じて自己株式の取得を行うことも検討する |
| Cost of capital | 株主資本コスト（推定約７％） |
| Self-assessment of PBR and share price | PBRは過去５年間0.3～0.5倍の間で推移していると認識 |
| Total investment plan | Amount ¥7.1 billion |
| Investment amount by sector | Field Capital Expenditure / Amount ¥5.1 billion, Field R&D Investment / Amount ¥2 billion |
| Key initiatives | 事業成長と収益性向上, Enhancement of shareholder returns, Enhancement of IR activities, Growth Strategy, Production Strategy, Strengthening the Management Platform, Management with an awareness of the cost of capital |
| Risks identified | Business risks |
| Date of board resolution | 2024年２月13日 |
| Publication date | 2024年２月13日 |
Items this document does not state (11)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetSegment targetNon-financial targetsPlan assumptionsResults under the previous planReason for revision or withdrawalSize 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.資本コストを意識しながら事業を推進して収益性を高め、事業リスクに備えるとともに、新規分野への積極的投資と株主還元の強化によって持続的な成長と企業価値の向上を目指すため。
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.