Worth reading
77Important
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
4731
¥ million (net sales target for the fiscal year ending February 2030)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+133.5%
基準 2,026Target4,731million
Operating profit+0.2%
基準 2,026Target2,030million
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. 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 of 2,533, operating income of 191, net income of 130 (plan for the fiscal year ending February 2026) → Net sales of 659, operating loss of ▲559, net loss of ▲601 (actual for the fiscal year ended February 2026)-20.0%Calculated from the two disclosed figures
Key initiatives
01Use of PLANNING COURSE
02PROTO BANK
03コルゲートarchitecture
04Use of SEAG seal
05Use of Platinum Premier Coat
06Use of the marketing system
07Complete shift to customer acquisition through the web and social media, and strengthening of digital marketing
08Responding to the emerging B2B trend of improving design-resource efficiency
09Maintaining the quality and engagement of studios (member companies)
10Enhancing design workflows through an AI assistant
11Integrating sustainable urban simulation
12Achieving seamless data access
13Capital and business alliances with companies that have synergies with the Company's businesses
14Streamlining through the sale or other disposition of subsidiaries related to the former management team
15Restructuring
16Implementing aggressive personnel measures to promote new businesses and establishing an environment for early monetization
17Reviewing and reducing selling, general and administrative expenses
18Strengthening relationships with financial institutions
Plan assumptionsThe average sales price for コルゲートarchitecture is ¥5 million, The average sales price for new technologies (floor coating and window coating) is ¥1.5 million (¥2 million for direct sales by the Company), The average sales price for ALIN is ¥100 million to ¥150 million, Order volumes per company and per order have been set separately for distributors, STUDIO operating companies and direct sales by the Company, The number of sales staff in the Environment-Related Business will be increased from the previous 3-person structure to a 10-person structure, The profitability of the Architect-Proposed Business is approximately 7%, while that of the Environment-Related Business is approximately 20% to 30%
Segment targetSegment Architect-Proposed Business (NT Business Division) / Subject Fiscal year ending February 2030 / Net Sales ¥520 million / Gross profit ¥340 million, Segment Architect-Proposed Business (PD Business Division) / Subject Fiscal year ending February 2030 / Net Sales ¥210 million / Gross profit ¥210 million, Segment Environment-Related Business (コルゲートarchitecture) / Subject Fiscal year ending February 2030 / Net Sales ¥2,001 million / Gross profit ¥300 million, Segment Environment-Related Business (new technologies, floor coating and window coating) / Subject Fiscal year ending February 2030 / Net Sales ¥900 million / Gross profit ¥300 million, Segment Environment-Related Business (ALIN) / Subject Fiscal year ending February 2030 / Net Sales ¥1,000 million / Gross profit ¥1,000 million, Segment Overseas and IT Businesses / Subject Fiscal year ending February 2030 / Net Sales ¥100 million / Gross profit ¥100 million, Segment Company-wide total / Subject Fiscal year ending February 2030 / Net Sales ¥4,731 million / Gross profit ¥2,250 million / Operating profit ¥1,050 million
Non-financial targetsIndicator Number of distributors / Target 20 companies / Timing Fiscal year ending February 2030, Indicator Number of STUDIO operating companies / Target 150 companies / Timing Fiscal year ending February 2030, Indicator Total number of コルゲートarchitecture orders / Target 300 / Timing Fiscal year ending February 2030, Indicator Total number of orders for new technologies (floor coating and window coating) / Target 400 orders / Timing Fiscal year ending February 2030, Indicator Number of ALIN orders / Target 7 items / Timing Fiscal year ending February 2030
Size of the Target MarketJapan's building stock totals 7.7 billion m², while the total window area is approximately 2.0 billion m². The Company estimates that applying SEAG to 100 million m², equivalent to 5% of the total window area, could reduce electricity consumption by 15 TWh annually. Sources cited are September 2022 statistics from the Ministry of Land, Infrastructure, Transport and Tourism for the building stock; the handbook of the Platinum Initiative Network and the standard dwelling model of the Ministry of Land, Infrastructure, Transport and Tourism and the Building Research Institute for window area; and the 2025 estimate of total electricity demand by the Canon Institute for Global Studies.
Risks identified by the company
Regarding the earnings structure
Regarding the management of affiliated construction companies
Regarding the small organizational structure and securing human resources
Regarding information systems
Material events and other matters concerning the going-concern assumption
Funding
Regarding the handling of new products and services
Regarding M&A investments
“Concentration of sales in the fourth quarter” was removed from the items covered, compared with the previous disclosure (the risk has declined due to the change in the fiscal year-end)
“Inventory for the merchandise business being developed as a new business,” “Handling of high-priced products,” and “Advertising expenses and items related to sales promotion” were removed compared with the previous disclosure (the former Lifestyle-Related Business will no longer be operated)
“Regarding the investment-related business” and “Regarding business investments” were removed compared with the previous disclosure (the former investment-related business will no longer be operated)
Reason for revision or withdrawal
In addition to the poor performance of the core business, there was an extremely large gap between the expectations before the acquisitions and the actual conditions at 4 subsidiaries acquired between July 2024 and March 2025. The Company confirmed that the figures for the “Lifestyle-Related Business” and “Investment Business” had diverged substantially from the original plans and that there were no longer reasonable expectations for their future performance. In addition, earnings further deteriorated due to the departure of personnel from the administrative divisions accompanying the major renewal of the management structure, external outsourcing costs for compiling delayed interim financial results, and costs related to the separation of affiliated companies.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan Phoenix |
| Plan period | Fiscal year ending February 2027 to fiscal year ending February 2030 |
| Progress against the plan | Formulated |
| Sales Target | 659 (actual for the fiscal year ended February 2026) → 4,731 (plan for the fiscal year ending February 2030) |
| Operating profit target | ▲559 (actual for the fiscal year ended February 2026) → 1,050 (plan for the fiscal year ending February 2030) |
| Segment target | Segment Architect-Proposed Business (NT Business Division) / Subject Fiscal year ending February 2030 / Net Sales ¥520 million / Gross profit ¥340 million, Segment Architect-Proposed Business (PD Business Division) / Subject Fiscal year ending February 2030 / Net Sales ¥210 million / Gross profit ¥210 million, Segment Environment-Related Business (コルゲートarchitecture) / Subject Fiscal year ending February 2030 / Net Sales ¥2,001 million / Gross profit ¥300 million, Segment Environment-Related Business (new technologies, floor coating and window coating) / Subject Fiscal year ending February 2030 / Net Sales ¥900 million / Gross profit ¥300 million, Segment Environment-Related Business (ALIN) / Subject Fiscal year ending February 2030 / Net Sales ¥1,000 million / Gross profit ¥1,000 million, Segment Overseas and IT Businesses / Subject Fiscal year ending February 2030 / Net Sales ¥100 million / Gross profit ¥100 million, Segment Company-wide total / Subject Fiscal year ending February 2030 / Net Sales ¥4,731 million / Gross profit ¥2,250 million / Operating profit ¥1,050 million |
| Non-financial targets | Indicator Number of distributors / Target 20 companies / Timing Fiscal year ending February 2030, Indicator Number of STUDIO operating companies / Target 150 companies / Timing Fiscal year ending February 2030, Indicator Total number of コルゲートarchitecture orders / Target 300 / Timing Fiscal year ending February 2030, Indicator Total number of orders for new technologies (floor coating and window coating) / Target 400 orders / Timing Fiscal year ending February 2030, Indicator Number of ALIN orders / Target 7 items / Timing Fiscal year ending February 2030 |
| Plan assumptions | The average sales price for コルゲートarchitecture is ¥5 million, The average sales price for new technologies (floor coating and window coating) is ¥1.5 million (¥2 million for direct sales by the Company), The average sales price for ALIN is ¥100 million to ¥150 million, Order volumes per company and per order have been set separately for distributors, STUDIO operating companies and direct sales by the Company, The number of sales staff in the Environment-Related Business will be increased from the previous 3-person structure to a 10-person structure, The profitability of the Architect-Proposed Business is approximately 7%, while that of the Environment-Related Business is approximately 20% to 30% |
| Key initiatives | Use of PLANNING COURSE, PROTO BANK, コルゲートarchitecture, Use of SEAG seal, Use of Platinum Premier Coat, Use of the marketing system, Complete shift to customer acquisition through the web and social media, and strengthening of digital marketing, Responding to the emerging B2B trend of improving design-resource efficiency, Maintaining the quality and engagement of studios (member companies), Enhancing design workflows through an AI assistant, Integrating sustainable urban simulation, Achieving seamless data access, Capital and business alliances with companies that have synergies with the Company's businesses, Streamlining through the sale or other disposition of subsidiaries related to the former management team, Restructuring, Implementing aggressive personnel measures to promote new businesses and establishing an environment for early monetization, Reviewing and reducing selling, general and administrative expenses, Strengthening relationships with financial institutions |
| Results under the previous plan | Net sales of 2,533, operating income of 191, net income of 130 (plan for the fiscal year ending February 2026) → Net sales of 659, operating loss of ▲559, net loss of ▲601 (actual for the fiscal year ended February 2026) |
| Reason for revision or withdrawal | In addition to the poor performance of the core business, there was an extremely large gap between the expectations before the acquisitions and the actual conditions at 4 subsidiaries acquired between July 2024 and March 2025. The Company confirmed that the figures for the “Lifestyle-Related Business” and “Investment Business” had diverged substantially from the original plans and that there were no longer reasonable expectations for their future performance. In addition, earnings further deteriorated due to the departure of personnel from the administrative divisions accompanying the major renewal of the management structure, external outsourcing costs for compiling delayed interim financial results, and costs related to the separation of affiliated companies. |
| Size of the Target Market | Japan's building stock totals 7.7 billion m², while the total window area is approximately 2.0 billion m². The Company estimates that applying SEAG to 100 million m², equivalent to 5% of the total window area, could reduce electricity consumption by 15 TWh annually. Sources cited are September 2022 statistics from the Ministry of Land, Infrastructure, Transport and Tourism for the building stock; the handbook of the Platinum Initiative Network and the standard dwelling model of the Ministry of Land, Infrastructure, Transport and Tourism and the Building Research Institute for window area; and the 2025 estimate of total electricity demand by the Canon Institute for Global Studies. |
| Risks identified | Regarding the earnings structure, Regarding the management of affiliated construction companies, Regarding the small organizational structure and securing human resources, Regarding information systems, Material events and other matters concerning the going-concern assumption, Funding, Regarding the handling of new products and services, Regarding M&A investments, “Concentration of sales in the fourth quarter” was removed from the items covered, compared with the previous disclosure (the risk has declined due to the change in the fiscal year-end), “Inventory for the merchandise business being developed as a new business,” “Handling of high-priced products,” and “Advertising expenses and items related to sales promotion” were removed compared with the previous disclosure (the former Lifestyle-Related Business will no longer be operated), “Regarding the investment-related business” and “Regarding business investments” were removed compared with the previous disclosure (the former investment-related business will no longer be operated) |
| Publication date | 2026.06.05 |
Items this document does not state (11)
Operating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorDate 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.In addition to the poor performance of the core business, the Company confirmed that there was an extremely large gap between the expectations before the acquisitions and the actual conditions at 4 subsidiaries acquired between July 2024 and March 2025. The “Lifestyle-Related Business” and “Investment Business” had diverged substantially from the original plan, and the Company determined that there were no longer reasonable expectations for their future performance. In addition, the departure of personnel from the administrative divisions accompanying the renewal of the management structure increased costs for external outsourcing and the separation of related companies, further worsening earnings.
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