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Management planning6135Makino Milling Machine Co.,Ltd.Machinery

Notice Regarding the Formulation of a Business Plan

Following the decision not to proceed with the tender offer, the Company formulated “Toward Enhancing Corporate Value (2026 Update),” an updated version of its previous “2025 Business Plan.” The targets for fiscal 2029 have been raised from ¥290.0 billion to ¥310.0 billion for net sales, from 12.5% to 13.5% for the operating margin, and from 11.3% to 12.0% for ROE, while the total payout ratio of 60% has been maintained.

Worth reading
45Recurring
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
200
¥100 million (increase in the net sales target)
Wording
Definitive
How definitive the wording is.

Items stated in the management plan

Formulated
Toward Enhancing Corporate Value (2026 Update)Plan period FY2025–FY2029 (fiscal year ending March 2030 as the final year)
Publication date 13 May 2026
Net Sales+6.9%
基準 2,900Target3,100Hundreds of millions of yen
Operating profit margin+1.0pt
基準 12.5Target13.5%
ROE+0.7pt
基準 11.3Target12%

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.

Total investment planCapital expenditures 710 Hundreds of millions of yen
Investment amount by sectorField Capital Expenditure / Amount 710 Hundreds of millions of yen / Period Covered Cumulative total for FY2025–FY2029
Statements about the use of capital
Payout ratio / DOE policyTotal payout ratio of 60% (FY2025–FY2029 average)The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Improve the contribution margin
02Improve the product mix
03Value-based pricing
04Expanding sales
05Expand market share by focusing on growth markets
06Develop new markets with new products
07Productivity Improvement
08Cost Reduction
09Shorten lead times
10Stable Earnings
11Strengthen services globally
12Expand the engineering business
13Enhance shareholder returns
14Total payout ratio of 60%
15Strengthening IR and SR Activities
Reason for revision or withdrawal

In light of the circumstances described above, the Company formulated a new business plan to maximize corporate value. The circumstances described above refer to the tender offer not proceeding.

Items stated in the management plan
ItemDetails
Plan nameToward Enhancing Corporate Value (2026 Update)
Plan periodFY2025–FY2029 (fiscal year ending March 2030 as the final year)
Progress against the planFormulated
Sales Target2,900 Hundreds of millions of yen → 3,100 Hundreds of millions of yen
Operating profit margin target12.5 % → 13.5 %
ROE target11.3 % → 12 %
Payout ratio / DOE policyTotal payout ratio of 60% (FY2025–FY2029 average)
Total investment planCapital expenditures 710 Hundreds of millions of yen
Investment amount by sectorField Capital Expenditure / Amount 710 Hundreds of millions of yen / Period Covered Cumulative total for FY2025–FY2029
Key initiativesImprove the contribution margin, Improve the product mix, Value-based pricing, Expanding sales, Expand market share by focusing on growth markets, Develop new markets with new products, Productivity Improvement, Cost Reduction, Shorten lead times, Stable Earnings, Strengthen services globally, Expand the engineering business, Enhance shareholder returns, Total payout ratio of 60%, Strengthening IR and SR Activities
Reason for revision or withdrawalIn light of the circumstances described above, the Company formulated a new business plan to maximize corporate value. The circumstances described above refer to the tender offer not proceeding.
Publication date13 May 2026
Items this document does not state (13)
Operating profit targetNet income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize of the Target MarketRisks identifiedDate 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 light of the tender offer not proceeding, the Company formulated a new business plan to maximize corporate value. The Company explained that the tender offer did not proceed because it received recommendations from the Minister of Finance and the Minister of Economy, Trade and Industry to discontinue the acquisition of shares under Japan’s Foreign Exchange and Foreign Trade Act.

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.
Notice Regarding the Formulation of a Business Plan | Makino Milling Machine Co.,Ltd. (6135) timely disclosure | Komori