Worth reading
74In focus
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
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales-6.2%
基準 21Target19.7hundred million
Operating profit+3.9%
基準 2.31Target2.4hundred million
Operating profit margin+1.2pt
基準 11Target12.2%
Net income for the current fiscal year+17.4%
基準 1.49Target1.8hundred million
ROE-1.9pt
基準 7Target5.1%
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.
What happened to the previous planNet Sales ¥21.0 billion / Operating profit ¥2.28 billion / Operating profit margin 10.9% / Net income for the current fiscal year ¥1.49 billion / ROE 6.0% → Net Sales ¥23.7 billion / Operating profit ¥3.15 billion / Operating profit margin 13.3% / Net income for the current fiscal year ¥2.48 billion / ROE 8.0%（Net Sales +12.9% / Operating profit +38.2% / Operating profit margin +22.0% / Net income for the current fiscal year +66.4% / ROE +33.3%）
Statements about the use of capital
Payout ratio / DOE policyShareholder return policy targeting a total payout ratio of approximately 30%. The applicable period is not disclosed. For the fiscal year ending March 2027, a dividend of ¥450 per share is forecast.The 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 priceMaking capital cost-based management and improving PBR key strategies, but the current PBR or share price level is not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Horizontal expansion and increased sales through the remodeling of existing core products
02Strengthen the transportation infrastructure business, where demand is expected to increase, to improve profitability
03Capital cost-based management and measures to improve PBR
04Optimization of cash allocation
05Review of the shareholder return policy
06ESG management
07Addressing Climate Change Risks
08Promoting Human Capital Management
09Accelerate the digitalization of priority areas
10Formation of an IR team
Plan assumptionsEnergy prices remaining elevated as the situation in Iran persists, constraints on materials supplies, and concerns over a slowdown in capital investment. Demand for our products is expected to remain firm.
Risks identified by the company
Energy prices remaining elevated as the situation in Iran persists
Constraints on materials supplies and rising prices
A slowdown in capital investment
Declining electricity demand in the household sector due to population decline and energy conservation efforts
Delays in overseas transportation infrastructure projects
Labor shortages
Reason for revision or withdrawal
Although the domestic economy remains uncertain due to concerns over a slowdown in capital investment caused by elevated energy prices as the situation in Iran persists and by constraints on materials supplies, demand for our products is expected to remain firm. For the fiscal year ending March 2027, we have left the previous forecast unchanged at ¥19.7 billion in revenue and ¥1.75 billion in operating profit.
| Item | Details |
|---|---|
| Plan name | 2027 Medium-Term Management Plan |
| Plan period | FY2025-FY2027 |
| Progress against the plan | Annual update |
| Sales Target | ¥21.0 billion (medium-term plan) → ¥19.7 billion (forecast announced this time)（▲6.2%） |
| Operating profit target | ¥2.31 billion (medium-term plan) → ¥2.40 billion (forecast announced this time)（+3.9%） |
| Operating profit margin target | 11.0% (medium-term plan) → 12.2% (forecast announced this time)（+10.9%） |
| Net income target | ¥1.49 billion (medium-term plan) → ¥1.75 billion (forecast announced this time)（+17.4%） |
| ROE target | 7.0% (medium-term plan) → 5.1% (forecast announced this time)（▲27.1%） |
| Payout ratio / DOE policy | Shareholder return policy targeting a total payout ratio of approximately 30%. The applicable period is not disclosed. For the fiscal year ending March 2027, a dividend of ¥450 per share is forecast. |
| Self-assessment of PBR and share price | Making capital cost-based management and improving PBR key strategies, but the current PBR or share price level is not disclosed. |
| Plan assumptions | Energy prices remaining elevated as the situation in Iran persists, constraints on materials supplies, and concerns over a slowdown in capital investment. Demand for our products is expected to remain firm. |
| Key initiatives | Horizontal expansion and increased sales through the remodeling of existing core products, Strengthen the transportation infrastructure business, where demand is expected to increase, to improve profitability, Capital cost-based management and measures to improve PBR, Optimization of cash allocation, Review of the shareholder return policy, ESG management, Addressing Climate Change Risks, Promoting Human Capital Management, Accelerate the digitalization of priority areas, Formation of an IR team |
| Results under the previous plan | Net Sales ¥21.0 billion / Operating profit ¥2.28 billion / Operating profit margin 10.9% / Net income for the current fiscal year ¥1.49 billion / ROE 6.0% → Net Sales ¥23.7 billion / Operating profit ¥3.15 billion / Operating profit margin 13.3% / Net income for the current fiscal year ¥2.48 billion / ROE 8.0%（Net Sales +12.9% / Operating profit +38.2% / Operating profit margin +22.0% / Net income for the current fiscal year +66.4% / ROE +33.3%） |
| Reason for revision or withdrawal | Although the domestic economy remains uncertain due to concerns over a slowdown in capital investment caused by elevated energy prices as the situation in Iran persists and by constraints on materials supplies, demand for our products is expected to remain firm. For the fiscal year ending March 2027, we have left the previous forecast unchanged at ¥19.7 billion in revenue and ¥1.75 billion in operating profit. |
| Risks identified | Energy prices remaining elevated as the situation in Iran persists, Constraints on materials supplies and rising prices, A slowdown in capital investment, Declining electricity demand in the household sector due to population decline and energy conservation efforts, Delays in overseas transportation infrastructure projects, Labor shortages |
| Publication date | 7 August 2026 |
Items this document does not state (9)
ROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetNon-financial targetsSize 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 there are concerns that capital investment may slow because energy prices are likely to remain elevated as the situation in Iran persists and because of constraints on materials supplies, demand for our products is expected to remain firm.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.