Worth reading
70In 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
-5000
¥ million (change in the revenue target for fiscal 2027)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales-14.3%
基準 35,000Target30,000million
Operating profit-20.0%
基準 2,250Target1,800million
Operating profit margin-0.4pt
基準 6.4Target6%, percentage-point change from the previous year
Net income for the current fiscal year-15.6%
基準 1,600Target1,350million
ROE-0.9pt
基準 7Target6.1%; latest result: 6.7% in fiscal 2025
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 planThe disclosure presents fiscal 2022-2024 results under SANYO VISION 76, but comparison with the targets of the previous plan is not disclosed
Total investment plan¥4.85 billion (¥1.0 billion for maintenance and renewal of facilities and ¥3.85 billion for growth and strategic investments, cumulative over 3 years)
Investment amount by sectorField Maintenance and renewal of facilities / Amount ¥1 billion, Field Growth and strategic investments / Amount ¥3.85 billion
Statements about the use of capital
Payout ratio / DOE policyThe Company aims to maintain or increase dividends, targeting a consolidated payout ratio of 45% or higher. The applicable period is the plan period (2025-2027).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 policyShare repurchases are included as part of the ¥3.5 billion in shareholder returns planned over the 3-year period, with the Company responding flexibly as circumstances warrant. In fiscal 2025, the Company repurchased and cancelled treasury shares.
Cost of capital7％The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe Company aims for a PBR of 1.0 by improving ROE and PER.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Continue expanding sales of growth-strategy products
02Expand highly efficient customer touchpoints by establishing 3 key channels
03Promote the digitalization of sales through data utilization
04Optimize the logistics network in coordination with production
05Pursue new businesses to achieve sustainable growth
06Promote the digitalization of production activities, with a focus on expanding production capacity
07Improve procurement efficiency and productivity through the use of digital technologies
08Strengthen supply chain management to optimize the nationwide logistics network
09Conduct research and development and create new products through industry-government-academia collaboration, centered on the 3-dimensional vibration testing building
10Establish medium- to long-term cash allocation to implement strategic resource allocation
11Implement balance sheet optimization measures to improve ROE
12Implement strategic human resources management to realize the business strategy and establish engagement-based management
13Create a workplace environment that enables each department to focus on its work
14Build a foundation for enhancing corporate value by strengthening management control functions for both offensive and defensive management
15Foster and strengthen robust controls with participation by all employees and awareness of compliance
16Improve operational efficiency and productivity through the introduction and use of practical systems and the promotion of digital transformation
Plan assumptionsIn the building market, the Company expects a recovery in private housing, growth in the government and private non-residential sectors, and year-on-year growth in construction investment from fiscal 2026 onward. At the same time, it expects costs to rise due to higher materials, energy and labor costs, as well as construction delays caused by labor shortages.
Risks identified by the company
Higher costs due to rising materials and energy prices
Higher costs due to rising labor costs
Construction delays due to labor shortages
Weak construction demand
Reason for revision or withdrawal
The Company revised its plan figures based on various factors affecting the economic environment surrounding the Company, including construction investment, as well as its strategy.
| Item | Details |
|---|---|
| Plan name | Three-Year Medium-Term Management Plan, SANYO VISION 79 |
| Plan period | April 2025 to March 2028 (2025-2027) |
| Progress against the plan | Partially revised |
| Sales Target | ¥35,000 million → ¥30,000 million（-14.3%） |
| Operating profit target | ¥2,250 million → ¥1,800 million（-20.0%） |
| Operating profit margin target | 6.4 %, percentage-point change from the previous year → 6 %, percentage-point change from the previous year（-6.3%） |
| Net income target | ¥1,600 million → ¥1,350 million（-15.6%） |
| ROE target | 7 %; latest result: 6.7% in fiscal 2025 → 6.1 %; latest result: 6.7% in fiscal 2025（-12.9%） |
| Payout ratio / DOE policy | The Company aims to maintain or increase dividends, targeting a consolidated payout ratio of 45% or higher. The applicable period is the plan period (2025-2027). |
| Treasury share acquisition policy | Share repurchases are included as part of the ¥3.5 billion in shareholder returns planned over the 3-year period, with the Company responding flexibly as circumstances warrant. In fiscal 2025, the Company repurchased and cancelled treasury shares. |
| Cost of capital | 7％ |
| Self-assessment of PBR and share price | The Company aims for a PBR of 1.0 by improving ROE and PER. |
| Total investment plan | ¥4.85 billion (¥1.0 billion for maintenance and renewal of facilities and ¥3.85 billion for growth and strategic investments, cumulative over 3 years) |
| Investment amount by sector | Field Maintenance and renewal of facilities / Amount ¥1 billion, Field Growth and strategic investments / Amount ¥3.85 billion |
| Plan assumptions | In the building market, the Company expects a recovery in private housing, growth in the government and private non-residential sectors, and year-on-year growth in construction investment from fiscal 2026 onward. At the same time, it expects costs to rise due to higher materials, energy and labor costs, as well as construction delays caused by labor shortages. |
| Key initiatives | Continue expanding sales of growth-strategy products, Expand highly efficient customer touchpoints by establishing 3 key channels, Promote the digitalization of sales through data utilization, Optimize the logistics network in coordination with production, Pursue new businesses to achieve sustainable growth, Promote the digitalization of production activities, with a focus on expanding production capacity, Improve procurement efficiency and productivity through the use of digital technologies, Strengthen supply chain management to optimize the nationwide logistics network, Conduct research and development and create new products through industry-government-academia collaboration, centered on the 3-dimensional vibration testing building, Establish medium- to long-term cash allocation to implement strategic resource allocation, Implement balance sheet optimization measures to improve ROE, Implement strategic human resources management to realize the business strategy and establish engagement-based management, Create a workplace environment that enables each department to focus on its work, Build a foundation for enhancing corporate value by strengthening management control functions for both offensive and defensive management, Foster and strengthen robust controls with participation by all employees and awareness of compliance, Improve operational efficiency and productivity through the introduction and use of practical systems and the promotion of digital transformation |
| Results under the previous plan | The disclosure presents fiscal 2022-2024 results under SANYO VISION 76, but comparison with the targets of the previous plan is not disclosed |
| Reason for revision or withdrawal | The Company revised its plan figures based on various factors affecting the economic environment surrounding the Company, including construction investment, as well as its strategy. |
| Risks identified | Higher costs due to rising materials and energy prices, Higher costs due to rising labor costs, Construction delays due to labor shortages, Weak construction demand |
| Publication date | 11 May 2026 |
Items this document does not state (5)
ROIC targetSegment 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.The Company revised its plan figures based on various factors affecting the economic environment surrounding the Company, including construction investment, as well as its strategy. Although construction investment is expected to increase in the building market, costs are expected to rise due to higher materials, energy and labor costs, while labor shortages are expected to cause construction delays.
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