Worth reading
51Recurring
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
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales-85.6%
基準 14,151Target2,031million (actual) / ¥100 million (target)
Operating profit+0.3%
基準 2,025Target2,031million (actual) / ¥100 million (target)
ROE+6.0pt
基準 2,025Target2,031％
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).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 planApproximately ¥1.5–2.0 billion (growth investment, fiscal 2027 to fiscal 2031)
Investment amount by sectorField Growth investment (investment in factory consolidation, system implementation and upgrades, human capital, etc.) / Amount Approximately ¥1.5–2.0 billion
Statements about the use of capital
Payout ratio / DOE policyThe Company will target a total payout ratio of approximately 65% and set DOE (dividend on equity) at a minimum of 3%. The capital allocation policy covers fiscal 2027 through fiscal 2031. The projected total payout ratio for fiscal 2026 is at least 65.0%.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 policyShare repurchases will be conducted flexibly after comprehensively considering capital efficiency, market conditions and financial position.
Cost of capitalCost of equity: approximately 5%–7% (calculated using CAPM and PER)The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe latest PBR was 0.78x, below 1.0x. PER has been approximately 10x–17x in recent years. The latest ROE was 7.8%, approximately in line with the cost of equity of around 5%–7%.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Accelerate business expansion into growth areas
02Strengthen the earnings power of existing businesses through differentiation
03Strengthen product development and research and development
04Strengthen global collaboration to develop overseas markets
05Increase production capacity and improve profitability
06Develop next-generation talent and pass on technical expertise
07Promoting Sustainability Management
08Establish a production structure through the operation of the second plant at the Akagi Smart Factory
09Consider consolidating and optimally locating standard-product production lines, renovating existing factories and integrating buildings
10Consider reducing logistics costs through warehouse reorganization and improved transport efficiency
11Increase R&D investment by 1.5 times compared with fiscal 2025 and accelerate technology development in growth areas
12Increase the number of products and shorten development periods by strengthening the R&D structure
13Develop products in anticipation of market changes, including applications of robotics technology and the use of IoT
14Introduce a new personnel evaluation system and establish diverse work styles and working arrangements
15Build a structured training program for next-generation and specialized talent, and expand opportunities to pass on technical expertise to younger and mid-career employees
16Expand support programs for skills development and career building
17Enhance disclosure materials and renew the corporate website, among other initiatives
18Develop a growth scenario through open innovation and other initiatives
19Expand business domains through open innovation
Risks identified by the company
Changes in economic conditions
Changes in market trends
Reason for revision or withdrawal
The latest PBR was 0.78x, below 1.0x. The Company's ROE was approximately in line with its cost of equity of around 5%–7%, standing at 7.8% most recently. The Company recognizes the need to strengthen shareholder returns and IR activities, among other initiatives.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (2027–2031) |
| Plan period | Fiscal 2027 to fiscal 2031 (final year: fiscal year ending December 2031) |
| Progress against the plan | Formulated |
| Sales Target | 14,151 (FY2025 actual) → ¥19 billion (FY2031 target) |
| Operating profit target | 1,163 (FY2025 actual) → ¥1.7 billion (FY2031 target) |
| ROE target | 7.8% (FY2025 actual) → At least 8% (FY2031 target) |
| Payout ratio / DOE policy | The Company will target a total payout ratio of approximately 65% and set DOE (dividend on equity) at a minimum of 3%. The capital allocation policy covers fiscal 2027 through fiscal 2031. The projected total payout ratio for fiscal 2026 is at least 65.0%. |
| Treasury share acquisition policy | Share repurchases will be conducted flexibly after comprehensively considering capital efficiency, market conditions and financial position. |
| Cost of capital | Cost of equity: approximately 5%–7% (calculated using CAPM and PER) |
| Self-assessment of PBR and share price | The latest PBR was 0.78x, below 1.0x. PER has been approximately 10x–17x in recent years. The latest ROE was 7.8%, approximately in line with the cost of equity of around 5%–7%. |
| Total investment plan | Approximately ¥1.5–2.0 billion (growth investment, fiscal 2027 to fiscal 2031) |
| Investment amount by sector | Field Growth investment (investment in factory consolidation, system implementation and upgrades, human capital, etc.) / Amount Approximately ¥1.5–2.0 billion |
| Key initiatives | Accelerate business expansion into growth areas, Strengthen the earnings power of existing businesses through differentiation, Strengthen product development and research and development, Strengthen global collaboration to develop overseas markets, Increase production capacity and improve profitability, Develop next-generation talent and pass on technical expertise, Promoting Sustainability Management, Establish a production structure through the operation of the second plant at the Akagi Smart Factory, Consider consolidating and optimally locating standard-product production lines, renovating existing factories and integrating buildings, Consider reducing logistics costs through warehouse reorganization and improved transport efficiency, Increase R&D investment by 1.5 times compared with fiscal 2025 and accelerate technology development in growth areas, Increase the number of products and shorten development periods by strengthening the R&D structure, Develop products in anticipation of market changes, including applications of robotics technology and the use of IoT, Introduce a new personnel evaluation system and establish diverse work styles and working arrangements, Build a structured training program for next-generation and specialized talent, and expand opportunities to pass on technical expertise to younger and mid-career employees, Expand support programs for skills development and career building, Enhance disclosure materials and renew the corporate website, among other initiatives, Develop a growth scenario through open innovation and other initiatives, Expand business domains through open innovation |
| Reason for revision or withdrawal | The latest PBR was 0.78x, below 1.0x. The Company's ROE was approximately in line with its cost of equity of around 5%–7%, standing at 7.8% most recently. The Company recognizes the need to strengthen shareholder returns and IR activities, among other initiatives. |
| Risks identified | Changes in economic conditions, Changes in market trends |
| Date of board resolution | 12 August 2026 |
| Publication date | 12 August 2026 |
Items this document does not state (8)
Operating profit margin targetNet income targetROIC targetSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize of the Target Market
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 latest PBR was 0.78x, below 1.0x, while ROE remained at 7.8%, approximately in line with the cost of equity. The Company therefore recognizes the need to improve business growth and profitability and strengthen shareholder returns and IR activities.
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