Worth reading
54Recurring
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
0.64
x (PBR, fiscal year ending March 2026)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+5.0pt
基準 2,026Target2,031％
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).
Net SalesFiscal year ending March 2026: over ¥40 billion (actual) → Not disclosed
Operating profitNot disclosed → Fiscal year ending March 2029: ¥5 billion or more
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNot disclosed → Results under the previous medium-term plan: operating cash flow of ¥5.9 billion, financing of ¥5 billion, proceeds from share sales of ¥4.8 billion, shareholder returns of ¥6 billion, and growth investments of ¥12.5 billion
Total investment planFiscal years ending March 2027 to March 2029: growth investments and other investments of ¥9.5 billion to at least ¥12.5 billion
Investment amount by sectorField Growth investments and other investments / Amount ¥9.5 billion to at least ¥12.5 billion / Period Covered Fiscal years ending March 2027 to March 2029
Statements about the use of capital
Payout ratio / DOE policyThe company will strive to provide continuous and stable dividends, with DOE of 2.0% as the floor and a dividend payout ratio of 30% or more as a guideline. Over the 3 years of the new medium-term plan, total shareholder returns, including dividends and share buybacks, are planned to increase from ¥8 billion to ¥11 billion. For the fiscal year ending March 2027, the company plans to pay a dividend of ¥55 per share, with a dividend payout ratio of 60%.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 policyTo be implemented flexibly and opportunistically. Over the 3 years of the new medium-term plan, total shareholder returns, including dividends and share buybacks, are planned to increase from ¥8 billion to ¥11 billion.
Self-assessment of PBR and share pricePBR rose to 0.64x in the fiscal year ending March 2026 from the previous level in the 0.4x range, but remains below 1x. The company aims to achieve PBR of 1x or higher in the fiscal year ending March 2031.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Growth strategy and investment
02Reduction of cross-shareholdings
03Enhancement of shareholder returns
04IR initiatives
Reason for revision or withdrawal
To improve profitability and capital efficiency by monetizing the returns from investments under the previous medium-term plan, optimizing the business portfolio, and focusing investment on growth areas.
| Item | Details |
|---|---|
| Plan name | Challenge2028 |
| Plan period | Fiscal years ending March 2027 to March 2029 (3 years of the new medium-term plan) |
| Progress against the plan | Formulated |
| Sales Target | Fiscal year ending March 2026: over ¥40 billion (actual) → Not disclosed |
| Operating profit target | Not disclosed → Fiscal year ending March 2029: ¥5 billion or more |
| ROE target | Fiscal year ending March 2026: 5.6% (actual) → Fiscal year ending March 2029: 7% or more; fiscal year ending March 2031: 8% or more |
| Payout ratio / DOE policy | The company will strive to provide continuous and stable dividends, with DOE of 2.0% as the floor and a dividend payout ratio of 30% or more as a guideline. Over the 3 years of the new medium-term plan, total shareholder returns, including dividends and share buybacks, are planned to increase from ¥8 billion to ¥11 billion. For the fiscal year ending March 2027, the company plans to pay a dividend of ¥55 per share, with a dividend payout ratio of 60%. |
| Treasury share acquisition policy | To be implemented flexibly and opportunistically. Over the 3 years of the new medium-term plan, total shareholder returns, including dividends and share buybacks, are planned to increase from ¥8 billion to ¥11 billion. |
| Self-assessment of PBR and share price | PBR rose to 0.64x in the fiscal year ending March 2026 from the previous level in the 0.4x range, but remains below 1x. The company aims to achieve PBR of 1x or higher in the fiscal year ending March 2031. |
| Total investment plan | Fiscal years ending March 2027 to March 2029: growth investments and other investments of ¥9.5 billion to at least ¥12.5 billion |
| Investment amount by sector | Field Growth investments and other investments / Amount ¥9.5 billion to at least ¥12.5 billion / Period Covered Fiscal years ending March 2027 to March 2029 |
| Key initiatives | Growth strategy and investment, Reduction of cross-shareholdings, Enhancement of shareholder returns, IR initiatives |
| Results under the previous plan | Not disclosed → Results under the previous medium-term plan: operating cash flow of ¥5.9 billion, financing of ¥5 billion, proceeds from share sales of ¥4.8 billion, shareholder returns of ¥6 billion, and growth investments of ¥12.5 billion |
| Reason for revision or withdrawal | To improve profitability and capital efficiency by monetizing the returns from investments under the previous medium-term plan, optimizing the business portfolio, and focusing investment on growth areas. |
| Date of board resolution | 15 May 2026 |
| Publication date | 15 May 2026 |
Items this document does not state (9)
Operating profit margin targetNet income targetROIC targetCost of capitalSegment targetNon-financial targetsPlan assumptionsSize 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.The company attributes the rise in PBR to progress, to a certain extent, from reducing cross-shareholdings, increasing shareholder returns through higher dividends and share buybacks, and implementing measures to improve profitability. For further improvement, the company plans to monetize the returns from investments under the previous medium-term management plan, optimize its business portfolio, and focus investment on growth areas.
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.