Worth reading
75Important
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
5000
Millions of yenWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+22.5%
基準 44,890Target55,000Millions of yen
Operating profit+51.4%
基準 3,303Target5,000Millions of yen
Operating profit margin+1.7pt
基準 7.4Target9.1%
Net income for the current fiscal year+21.8%
基準 3,449Target4,200Millions of yen
ROE+1.4pt
基準 5.6Target7%
ROIC+2.1pt
基準 3.4Target5.5%
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.
What happened to the previous planOrders received 41,000 / Net Sales 40,000 / Operating profit 3,600 / Operating profit margin 9.0% / Ordinary income 3,800 / Profit attributable to owners of the parent 2,600 / ROA 4.9% / ROE 4.5% → Orders received 42,591 / Net Sales 44,890 / Operating profit 3,303 / Operating profit margin 7.4% / Ordinary income 3,620 / Profit attributable to owners of the parent 3,449 / ROA 4.4% / ROE 5.6%
Statements about the use of capital
Payout ratio / DOE policyEnhance shareholder returns. Numerical targets and the applicable period for the payout ratio and DOE are not disclosed.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 policyThe review of the previous medium-term management plan notes that the Company acquired and cancelled treasury shares, but the acquisition framework, timing, and terms under the new plan are not disclosed.
Self-assessment of PBR and share priceThe Company aims to improve its PBR and achieve a PBR of at least 1x at an early stage. The current PBR is not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Improvement and development of existing products and development of new products that address customer needs for energy savings and labor savings
02Strengthen long-term customer relationships by expanding the parts, maintenance, and software businesses
03Strengthen pricing strategy and cost competitiveness
04Create new businesses and develop new markets by expanding into decarbonization and environmental fields
05Reallocate management resources to priority areas
06Securing and Developing Human Resources
07Promote the management philosophy and strengthen execution capabilities
08Strengthen KPI management
09Improve operational efficiency through digitalization and other measures
10Response to achieving management that is conscious of the cost of capital and share price
11Strengthening Governance
12Contribute to the realization of a carbon-neutral society by supplying heat exchangers for CO2 capture and waste-heat recovery
13Develop next-generation standard models and establish them in the market
14Strengthen the maintenance business
15Improve productivity and CCC
16Promote collaboration with other companies
17Help address social issues by providing products and services that contribute to energy savings and labor savings
18Expand after-sales services and stimulate after-sales demand
19Improve efficiency and reduce manufacturing costs by standardizing core models
20Promote collaboration among group companies
21Develop and provide new products related to new energy
22Develop new products for priority markets
23Reduce costs through the improvement and development of existing products
Segment targetSegment Heat Exchangers business / Net Sales Latest results ¥17.22 billion / Target for the final year ¥23.47 billion / Segment profit Latest results ¥980 million / Target for the final year ¥2.55 billion / Operating margin Latest results 5.7％ / Target for the final year 10.9％, Segment Process Engineering business / Net Sales Latest results ¥22.40 billion / Target for the final year ¥25.00 billion / Segment profit Latest results ¥2.12 billion / Target for the final year ¥1.94 billion / Operating margin Latest results 9.5％ / Target for the final year 7.8％, Segment Valve business / Net Sales Latest results ¥5.18 billion / Target for the final year ¥6.50 billion / Segment profit Latest results ¥360 million / Target for the final year ¥700 million / Operating margin Latest results 7.1％ / Target for the final year 10.8％, Segment Other / Net Sales Latest results ¥72 million / Target for the final year ¥30 million / Segment profit Latest results ¥52 million / Target for the final year ¥10 million
| Item | Details |
|---|---|
| Plan name | New Medium-Term Management Plan "Challenge2028" |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Formulated |
| Sales Target | 44,890 Millions of yen → 55,000 Millions of yen（22.5%） |
| Operating profit target | 3,303 Millions of yen → 5,000 Millions of yen（51.3%） |
| Operating profit margin target | 7.4% → 9.1% |
| Net income target | 3,449 Millions of yen → 4,200 Millions of yen（21.7%） |
| ROE target | 5.6% → 7.0% |
| ROIC target | 3.4% → 5.5% |
| Payout ratio / DOE policy | Enhance shareholder returns. Numerical targets and the applicable period for the payout ratio and DOE are not disclosed. |
| Treasury share acquisition policy | The review of the previous medium-term management plan notes that the Company acquired and cancelled treasury shares, but the acquisition framework, timing, and terms under the new plan are not disclosed. |
| Self-assessment of PBR and share price | The Company aims to improve its PBR and achieve a PBR of at least 1x at an early stage. The current PBR is not disclosed. |
| Segment target | Segment Heat Exchangers business / Net Sales Latest results ¥17.22 billion / Target for the final year ¥23.47 billion / Segment profit Latest results ¥980 million / Target for the final year ¥2.55 billion / Operating margin Latest results 5.7％ / Target for the final year 10.9％, Segment Process Engineering business / Net Sales Latest results ¥22.40 billion / Target for the final year ¥25.00 billion / Segment profit Latest results ¥2.12 billion / Target for the final year ¥1.94 billion / Operating margin Latest results 9.5％ / Target for the final year 7.8％, Segment Valve business / Net Sales Latest results ¥5.18 billion / Target for the final year ¥6.50 billion / Segment profit Latest results ¥360 million / Target for the final year ¥700 million / Operating margin Latest results 7.1％ / Target for the final year 10.8％, Segment Other / Net Sales Latest results ¥72 million / Target for the final year ¥30 million / Segment profit Latest results ¥52 million / Target for the final year ¥10 million |
| Key initiatives | Improvement and development of existing products and development of new products that address customer needs for energy savings and labor savings, Strengthen long-term customer relationships by expanding the parts, maintenance, and software businesses, Strengthen pricing strategy and cost competitiveness, Create new businesses and develop new markets by expanding into decarbonization and environmental fields, Reallocate management resources to priority areas, Securing and Developing Human Resources, Promote the management philosophy and strengthen execution capabilities, Strengthen KPI management, Improve operational efficiency through digitalization and other measures, Response to achieving management that is conscious of the cost of capital and share price, Strengthening Governance, Contribute to the realization of a carbon-neutral society by supplying heat exchangers for CO2 capture and waste-heat recovery, Develop next-generation standard models and establish them in the market, Strengthen the maintenance business, Improve productivity and CCC, Promote collaboration with other companies, Help address social issues by providing products and services that contribute to energy savings and labor savings, Expand after-sales services and stimulate after-sales demand, Improve efficiency and reduce manufacturing costs by standardizing core models, Promote collaboration among group companies, Develop and provide new products related to new energy, Develop new products for priority markets, Reduce costs through the improvement and development of existing products |
| Results under the previous plan | Orders received 41,000 / Net Sales 40,000 / Operating profit 3,600 / Operating profit margin 9.0% / Ordinary income 3,800 / Profit attributable to owners of the parent 2,600 / ROA 4.9% / ROE 4.5% → Orders received 42,591 / Net Sales 44,890 / Operating profit 3,303 / Operating profit margin 7.4% / Ordinary income 3,620 / Profit attributable to owners of the parent 3,449 / ROA 4.4% / ROE 5.6% |
| Publication date | 15 May 2026 |
Items this document does not state (9)
Cost of capitalTotal investment planInvestment amount by sectorNon-financial targetsPlan assumptionsReason for revision or withdrawalSize 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.The plan is intended to put the management vision, "Meeting the Challenge of Climate Change," into practice and achieve sustainable growth and higher corporate value through growth strategies and the strengthening of the business foundation. The Company also states that the plan was formulated based on its management philosophy, raison d'être, newly established management vision, and revised materiality.
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.