Worth reading
38Recurring
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
3
% (DOE, dividend payout ratio on net assets)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Date of board resolution23 June 2026
Publication date23 June 2026
ROE-2,016.0pt
基準 2,026Target10％
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).
Statements about the use of capital
Payout ratio / DOE policyThe Company will use a DOE (dividend payout ratio on net assets) of 3.0% as its standard. The policy will apply from the fiscal year ending March 2027, and the number of dividend payments will change from once a year, at fiscal year-end, to twice a year, as an interim and year-end dividend.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalCost of equity: 5.17%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR rose from 0.49x at the end of the fiscal year ended March 2025 to 0.75x at the end of the fiscal year ended March 2026, but it remains below 1.0x. The Company aims to achieve a PBR above 1.0x as soon as possible.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Improving domestic business profitability
02Promoting store scrap-and-build initiatives with a focus on investment efficiency.
03Improving the operating profit margin by controlling advertising and promotion expenses.
04Expanding the number of contracts and ceremonies held by proposing new styles that reflect current trends.
05Capture demand for photo weddings by establishing a new photo studio within Nagoya's "百花籠" venue and through other initiatives.
06Improving the Profitability of the China Business
07Promoting thorough cost reductions, including negotiations to reduce rent.
08Optimizing the business portfolio by transferring the assets of the Shanghai Hongqiao venue, and achieving an early recovery in performance by concentrating management resources on the remaining Daning venue.
09Changing the dividend policy
10Change from a stable dividend policy to one based on a DOE (dividend payout ratio on net assets) of 3.0%.
11Strengthening IR
12Participate in events for individual investors
13Hold individual meetings in response to requests from institutional investors
14Enhance the content of supplementary earnings presentation materials
15Medium-Term Management Plan Disclosure
| Item | Details |
|---|---|
| ROE target | -40.7% (actual for the fiscal year ended March 2026) → 10% range (target) |
| Payout ratio / DOE policy | The Company will use a DOE (dividend payout ratio on net assets) of 3.0% as its standard. The policy will apply from the fiscal year ending March 2027, and the number of dividend payments will change from once a year, at fiscal year-end, to twice a year, as an interim and year-end dividend. |
| Cost of capital | Cost of equity: 5.17% |
| Self-assessment of PBR and share price | PBR rose from 0.49x at the end of the fiscal year ended March 2025 to 0.75x at the end of the fiscal year ended March 2026, but it remains below 1.0x. The Company aims to achieve a PBR above 1.0x as soon as possible. |
| Key initiatives | Improving domestic business profitability, Promoting store scrap-and-build initiatives with a focus on investment efficiency., Improving the operating profit margin by controlling advertising and promotion expenses., Expanding the number of contracts and ceremonies held by proposing new styles that reflect current trends., Capture demand for photo weddings by establishing a new photo studio within Nagoya's "百花籠" venue and through other initiatives., Improving the Profitability of the China Business, Promoting thorough cost reductions, including negotiations to reduce rent., Optimizing the business portfolio by transferring the assets of the Shanghai Hongqiao venue, and achieving an early recovery in performance by concentrating management resources on the remaining Daning venue., Changing the dividend policy, Change from a stable dividend policy to one based on a DOE (dividend payout ratio on net assets) of 3.0%., Strengthening IR, Participate in events for individual investors, Hold individual meetings in response to requests from institutional investors, Enhance the content of supplementary earnings presentation materials, Medium-Term Management Plan Disclosure |
| Date of board resolution | 23 June 2026 |
| Publication date | 23 June 2026 |
Items this document does not state (18)
Plan namePlan periodProgress against the planSales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policyTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planReason for revision or withdrawalSize of the Target MarketRisks identified
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.ROE has not exceeded the cost of equity because of the net loss and decline in net assets in the fiscal year ended March 2021 resulting from the impact of the spread of COVID-19, as well as the net losses in the fiscal years ended March 2025 and March 2026. In addition, revenue has been trending downward since the fiscal year ended March 2024, while the rising ratio of selling, general and administrative expenses has reduced operating income.
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.