Worth reading
50Recurring
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
53000
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationFY ended March 2026 actual, FY ending March 2027 forecast, FY ending March 2029 target, FY ending March 2031 target10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net SalesFY ended March 2026 actual 41,983; FY ending March 2027 forecast 44,000; FY ending March 2029 target 47,000; FY ending March 2031 target 53,000
Operating profitFY ended March 2026 actual 2,403; FY ending March 2027 forecast 3,700; FY ending March 2029 target 3,200; FY ending March 2031 target 5,300
Operating profit marginFY ended March 2026 actual 5.7%; FY ending March 2027 forecast 8.4%; FY ending March 2029 target 6.8%; FY ending March 2031 target at least 10%. Year-on-year change points: not disclosed
Full-year earnings forecast
Net Sales¥44,000 million
Operating profit¥3,700 million
Operating profit margin8.4%
ROE4.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Under Medium-Term Management Plan 2025, net sales, operating profit, operating profit margin, and ROE fell short of their targets. Growth investment of ¥14.9 billion and shareholder returns of ¥9.0 billion were implemented.Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The materials state that the outlook is based on certain assumptions, but specific figures for foreign exchange rates, raw material prices, and other factors are not disclosed.New initiatives
- Focused investment in the electronics and semiconductor sectors and global expansion
- Withdrawal from or downsizing of unprofitable businesses and divisions, and consolidation of plants
- Improving profit margins through price revisions and cost reductions
- Accelerating development through the use of AI
- Considering new businesses, including contract testing and other solutions
- Real-time monitoring of management figures using the new core system
- Introduction of a progressive dividend policy
- Flexible repurchases and cancellation of treasury shares
Key KPIsA metric the company considers important as a management benchmark.
- CAGR for 5 priority products+12%
- Five-year CAGR for semiconductor-related business+5.1%
- Employee turnover rate2% or less
- Percentage of women among new hiresAt least 30%
- Percentage of men taking parental leaveAt least 80%
Medium-term management plan targets
Net SalesFY ending March 2031: ¥53,000 million
Operating profitFY ending March 2031: ¥5,300 million
Operating profit marginFY ending March 2031: at least 10%
ROEFY ending March 2031: at least 8%
Equity ratioFY ending March 2031: guideline of 75%
Financial targets
ROE of at least 8% and an equity ratio of approximately 75% as a guideline. ROE was 3.2% in the fiscal year ended March 2026, while the current equity ratio is approximately 80%.Market Size / Share
The materials describe market growth prospects and a policy of expanding market share, but figures for market size and market share are not disclosed.Annual Dividend
Progressive annual dividend of at least ¥34 per share. The interim and year-end breakdown is not disclosed.Payout ratio
Not disclosed. Total payout ratio of at least 100% on a cumulative five-year basisAcquisition of treasury shares
Flexible repurchases and cancellation of treasury shares. The amount, number of shares, and period are not disclosed.| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | FY ended March 2026 actual, FY ending March 2027 forecast, FY ending March 2029 target, FY ending March 2031 target |
| Net Sales | FY ended March 2026 actual 41,983; FY ending March 2027 forecast 44,000; FY ending March 2029 target 47,000; FY ending March 2031 target 53,000 |
| Operating profit | FY ended March 2026 actual 2,403; FY ending March 2027 forecast 3,700; FY ending March 2029 target 3,200; FY ending March 2031 target 5,300 |
| Operating profit margin | FY ended March 2026 actual 5.7%; FY ending March 2027 forecast 8.4%; FY ending March 2029 target 6.8%; FY ending March 2031 target at least 10%. Year-on-year change points: not disclosed |
| Full-year earnings forecast | Net Sales ¥44,000 million / Operating profit ¥3,700 million / Operating profit margin 8.4% / ROE 4.4% |
| Self-assessment against the plan | Under Medium-Term Management Plan 2025, net sales, operating profit, operating profit margin, and ROE fell short of their targets. Growth investment of ¥14.9 billion and shareholder returns of ¥9.0 billion were implemented. |
| Key KPIs | Indicator name CAGR for 5 priority products / Value +12% / Year on year against the same period last year Not disclosed, Indicator name Five-year CAGR for semiconductor-related business / Value +5.1% / Year on year against the same period last year Not disclosed, Indicator name Employee turnover rate / Value 2% or less / Year on year against the same period last year Not disclosed, Indicator name Percentage of women among new hires / Value At least 30% / Year on year against the same period last year Not disclosed, Indicator name Percentage of men taking parental leave / Value At least 80% / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | The materials state that the outlook is based on certain assumptions, but specific figures for foreign exchange rates, raw material prices, and other factors are not disclosed. |
| Medium-term management plan targets | Net Sales FY ending March 2031: ¥53,000 million / Operating profit FY ending March 2031: ¥5,300 million / Operating profit margin FY ending March 2031: at least 10% / ROE FY ending March 2031: at least 8% / Equity ratio FY ending March 2031: guideline of 75% |
| Financial targets | ROE of at least 8% and an equity ratio of approximately 75% as a guideline. ROE was 3.2% in the fiscal year ended March 2026, while the current equity ratio is approximately 80%. |
| Annual Dividend | Progressive annual dividend of at least ¥34 per share. The interim and year-end breakdown is not disclosed. |
| Payout ratio | Not disclosed. Total payout ratio of at least 100% on a cumulative five-year basis |
| Acquisition of treasury shares | Flexible repurchases and cancellation of treasury shares. The amount, number of shares, and period are not disclosed. |
| Market Size / Share | The materials describe market growth prospects and a policy of expanding market share, but figures for market size and market share are not disclosed. |
| New initiatives | Focused investment in the electronics and semiconductor sectors and global expansion, Withdrawal from or downsizing of unprofitable businesses and divisions, and consolidation of plants, Improving profit margins through price revisions and cost reductions, Accelerating development through the use of AI, Considering new businesses, including contract testing and other solutions, Real-time monitoring of management figures using the new core system, Introduction of a progressive dividend policy, Flexible repurchases and cancellation of treasury shares |
Items this document does not state (15)
Ordinary incomeNet incomeGross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogKey points of the Q&A
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.Under Medium-Term Management Plan 2025, net sales, operating profit, operating profit margin, and ROE fell short of their targets due to changes in market conditions, including stagnation in the power semiconductor market resulting from the slowdown in EV adoption and the deceleration of the Chinese economy. Based on these challenges, the company plans to make use of growth investment, improve its earnings capacity, and reform its earnings structure.
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.