Worth reading
65In focus
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
-53
¥100 million (decline in the consolidated net sales target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales-18.4%
基準 288Target235Hundreds of millions of yen
Operating profit-76.2%
基準 8.4Target2Hundreds of millions of yen
Operating profit margin-2.0pt
基準 2.9Target0.9%
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).
Key initiatives
01Transformation and challenge
02Optimize the core business portfolio from a medium- to long-term perspective
03Strengthen business strategy, financial strategy and the management foundation
04Continue the order-taking strategy focused on the Chubu region
05Expand sales activities into other regions
06Further enhance technical proposal capabilities
07Improve margins and reduce nonconforming products by reviewing manufacturing processes
08Develop a new order-taking strategy looking beyond the next fiscal year
09Strengthen capabilities to undertake a diverse range of maintenance and repair work, not limited to steel bridges
10Improve overall business profitability
11Consider a new business portfolio
12Organizational and operational reform
13Promotion of DX
14Human Capital Development
15Enhancing Employee Engagement
16Advance sustainability initiatives
Plan assumptionsSteel highway bridge orders: approximately 150,000 tonnes per year (assumption when the Fifth Medium-Term Management Plan was formulated), Steel structure orders: approximately 4 million tonnes per year (assumption when the Fifth Medium-Term Management Plan was formulated)
Segment targetSegment name Steel structures manufacturing business / Net Sales FY3/2026 actual 207 Hundreds of millions of yen / FY3/2027 plan 249 Hundreds of millions of yen / FY3/2027 revised plan 208 Hundreds of millions of yen / Operating profit FY3/2026 actual 3.2 Hundreds of millions of yen / FY3/2027 plan 3.4 Hundreds of millions of yen / FY3/2027 revised plan -0.9 Hundreds of millions of yen, Segment name Other Businesses / Net Sales FY3/2026 actual 27 Hundreds of millions of yen / FY3/2027 plan 39 Hundreds of millions of yen / FY3/2027 revised plan 27 Hundreds of millions of yen / Operating profit FY3/2026 actual 1.6 Hundreds of millions of yen / FY3/2027 plan 5 Hundreds of millions of yen / FY3/2027 revised plan 2.9 Hundreds of millions of yen
Size of the Target MarketFigures Steel highway bridge orders: approximately 150,000 tonnes per year (assumption); actual orders are expected to fall below 90,000 tonnes per year, Steel structure orders: approximately 4 million tonnes per year (assumption); actual orders are approximately 3.5 million tonnes per year / Source Not disclosed
Risks identified by the company
Sluggish orders for new steel bridges in Japan
Stagnant demand for steel structures
Future changes in the uncertain business environment
Challenges in cost and production control
Reason for revision or withdrawal
The assumptions made when formulating the Fifth Medium-Term Management Plan have diverged from actual conditions due to sluggish orders for new steel bridges in Japan and lackluster growth in demand for steel structures. In addition, challenges remain in cost and production control in the steel structure and steel construction businesses.
| Item | Details |
|---|---|
| Plan name | 5th Medium-Term Management Plan |
| Plan period | Three years through the fiscal year ending March 2027 (fiscal years 88–90) |
| Progress against the plan | Partially revised |
| Sales Target | 288 Hundreds of millions of yen → 235 Hundreds of millions of yen（-18.4%） |
| Operating profit target | 8.4 Hundreds of millions of yen → 2 Hundreds of millions of yen（-76.2%） |
| Operating profit margin target | 2.9 % → 0.9 %（-69.0%） |
| Segment target | Segment name Steel structures manufacturing business / Net Sales FY3/2026 actual 207 Hundreds of millions of yen / FY3/2027 plan 249 Hundreds of millions of yen / FY3/2027 revised plan 208 Hundreds of millions of yen / Operating profit FY3/2026 actual 3.2 Hundreds of millions of yen / FY3/2027 plan 3.4 Hundreds of millions of yen / FY3/2027 revised plan -0.9 Hundreds of millions of yen, Segment name Other Businesses / Net Sales FY3/2026 actual 27 Hundreds of millions of yen / FY3/2027 plan 39 Hundreds of millions of yen / FY3/2027 revised plan 27 Hundreds of millions of yen / Operating profit FY3/2026 actual 1.6 Hundreds of millions of yen / FY3/2027 plan 5 Hundreds of millions of yen / FY3/2027 revised plan 2.9 Hundreds of millions of yen |
| Plan assumptions | Steel highway bridge orders: approximately 150,000 tonnes per year (assumption when the Fifth Medium-Term Management Plan was formulated), Steel structure orders: approximately 4 million tonnes per year (assumption when the Fifth Medium-Term Management Plan was formulated) |
| Key initiatives | Transformation and challenge, Optimize the core business portfolio from a medium- to long-term perspective, Strengthen business strategy, financial strategy and the management foundation, Continue the order-taking strategy focused on the Chubu region, Expand sales activities into other regions, Further enhance technical proposal capabilities, Improve margins and reduce nonconforming products by reviewing manufacturing processes, Develop a new order-taking strategy looking beyond the next fiscal year, Strengthen capabilities to undertake a diverse range of maintenance and repair work, not limited to steel bridges, Improve overall business profitability, Consider a new business portfolio, Organizational and operational reform, Promotion of DX, Human Capital Development, Enhancing Employee Engagement, Advance sustainability initiatives |
| Reason for revision or withdrawal | The assumptions made when formulating the Fifth Medium-Term Management Plan have diverged from actual conditions due to sluggish orders for new steel bridges in Japan and lackluster growth in demand for steel structures. In addition, challenges remain in cost and production control in the steel structure and steel construction businesses. |
| Size of the Target Market | Figures Steel highway bridge orders: approximately 150,000 tonnes per year (assumption); actual orders are expected to fall below 90,000 tonnes per year, Steel structure orders: approximately 4 million tonnes per year (assumption); actual orders are approximately 3.5 million tonnes per year / Source Not disclosed |
| Risks identified | Sluggish orders for new steel bridges in Japan, Stagnant demand for steel structures, Future changes in the uncertain business environment, Challenges in cost and production control |
| Publication date | 15 May 2026 |
Items this document does not state (12)
Net income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsResults 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 assumptions made when formulating the Fifth Medium-Term Management Plan have diverged from actual conditions due to sluggish orders for new steel bridges in Japan and lackluster growth in demand for steel structures. In addition, challenges remain in cost and production control in the steel structure and steel construction businesses.
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