Worth reading
72In focus
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
100
¥ hundred millionWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet income for the current fiscal year0.0%
基準 2,030Target2,030hundred million
ROE-2,013.0pt
基準 2,025Target12%
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.
Net Sales¥300 billion (indicative sales target) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planConsolidated net income: average of at least ¥5 billion for fiscal 2023 through fiscal 2025, and ¥10 billion in fiscal 2030. ROE: at least 10% in fiscal 2025 and at least 10% on a sustained basis thereafter → The profit target was not achieved. The company expects to record a one-time loss in fiscal 2025 and recover to net income of ¥6 billion and ROE of 12.9% in fiscal 2026-0.2%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyThe previous medium-term management plan stated that the company would aim to resume dividend payments during the plan period. Numerical targets for the payout ratio and DOE under the new medium-term management plan: not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
011. Co-creation EPC strategy
022. Priority regional strategy
033. High-value-added business strategy
044. New technology and business development strategy
055. O&M strategy
06Human Resources and Organizational Strategy
07DX/AX strategy
08Financial Strategy
Plan assumptionsItem Japan's biopharmaceutical market / Assumptions ¥4 trillion in 2030, CAGR of 4%, Item India's biopharmaceutical market / Assumptions ¥2.5 trillion in 2030, CAGR of 7%, Item Japan's SAF demand / Assumptions 1.71 million kL of SAF expected to be supplied in Japan in 2030, Item Development potential for next-generation geothermal power generation / Assumptions 800 GW globally in 2050, 1.4 GW in Japan in 2040 and 7.7 GW in Japan in 2050
Segment targetSegment name Advanced Materials and Fine Chemicals, Biopharmaceuticals, and O&M / Sales target Not disclosed / Profit Target Gross profit composition ratio: at least 30% in fiscal 2030
Non-financial targetsIndicator Ratio of co-creation EP/EPC orders / Target value At least 50% in fiscal 2030
Size of the Target MarketMarket Japan's biopharmaceutical market / As of 2030 / Dimensions ¥4 trillion / Growth rate CAGR4% / Source Not disclosed, Market India's biopharmaceutical market / As of 2030 / Dimensions ¥2.5 trillion / Growth rate CAGR7% / Source Not disclosed, Market Next-generation geothermal power generation (global) / As of 2050 / Dimensions Development potential of 800 GW / Growth rate Not disclosed / Source Institute of Energy Economics, Japan (IEEJ), 96th IEEJ Energy Webinar, Market Japan's next-generation geothermal power generation / As of 2040 and 2050 / Dimensions Deployment targets of 1.4 GW in 2040 and 7.7 GW in 2050 / Growth rate Not disclosed / Source Agency for Natural Resources and Energy, Interim Report of the Public-Private Council for the Promotion of Next-Generation Geothermal Power Generation, Document 4, Market SAF in Japan / As of 2030 / Dimensions 1.71 million kL / Growth rate Not disclosed / Source Not disclosed
Risks identified by the company
Geopolitical risk
Economic security and regulatory changes
Fluctuations in inflation, interest rates, foreign exchange rates and material prices
Greater difficulty in making investment decisions for new technology and new market projects
Higher CAPEX, financing and profitability challenges
Increasingly multilayered technology, procurement, construction and permitting risks
Greater earnings volatility risk in the conventional EPC model
Labor shortages and challenges in passing on technical expertise
Procurement constraints for critical equipment, materials and construction personnel
Sanctions, political conditions and public security
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (2026 - 2030) |
| Plan period | FY2026–FY2030 |
| Progress against the plan | Formulated |
| Sales Target | ¥300 billion (indicative sales target) → Not disclosed |
| Net income target | Fiscal 2030: ¥10 billion → Fiscal 2030: ¥10 billion |
| ROE target | At least 10% in fiscal 2025 and at least 10% on a sustained basis thereafter → At least 12% in each fiscal year |
| Payout ratio / DOE policy | The previous medium-term management plan stated that the company would aim to resume dividend payments during the plan period. Numerical targets for the payout ratio and DOE under the new medium-term management plan: not disclosed |
| Segment target | Segment name Advanced Materials and Fine Chemicals, Biopharmaceuticals, and O&M / Sales target Not disclosed / Profit Target Gross profit composition ratio: at least 30% in fiscal 2030 |
| Non-financial targets | Indicator Ratio of co-creation EP/EPC orders / Target value At least 50% in fiscal 2030 |
| Plan assumptions | Item Japan's biopharmaceutical market / Assumptions ¥4 trillion in 2030, CAGR of 4%, Item India's biopharmaceutical market / Assumptions ¥2.5 trillion in 2030, CAGR of 7%, Item Japan's SAF demand / Assumptions 1.71 million kL of SAF expected to be supplied in Japan in 2030, Item Development potential for next-generation geothermal power generation / Assumptions 800 GW globally in 2050, 1.4 GW in Japan in 2040 and 7.7 GW in Japan in 2050 |
| Key initiatives | 1. Co-creation EPC strategy, 2. Priority regional strategy, 3. High-value-added business strategy, 4. New technology and business development strategy, 5. O&M strategy, Human Resources and Organizational Strategy, DX/AX strategy, Financial Strategy |
| Results under the previous plan | Consolidated net income: average of at least ¥5 billion for fiscal 2023 through fiscal 2025, and ¥10 billion in fiscal 2030. ROE: at least 10% in fiscal 2025 and at least 10% on a sustained basis thereafter → The profit target was not achieved. The company expects to record a one-time loss in fiscal 2025 and recover to net income of ¥6 billion and ROE of 12.9% in fiscal 2026 |
| Size of the Target Market | Market Japan's biopharmaceutical market / As of 2030 / Dimensions ¥4 trillion / Growth rate CAGR4% / Source Not disclosed, Market India's biopharmaceutical market / As of 2030 / Dimensions ¥2.5 trillion / Growth rate CAGR7% / Source Not disclosed, Market Next-generation geothermal power generation (global) / As of 2050 / Dimensions Development potential of 800 GW / Growth rate Not disclosed / Source Institute of Energy Economics, Japan (IEEJ), 96th IEEJ Energy Webinar, Market Japan's next-generation geothermal power generation / As of 2040 and 2050 / Dimensions Deployment targets of 1.4 GW in 2040 and 7.7 GW in 2050 / Growth rate Not disclosed / Source Agency for Natural Resources and Energy, Interim Report of the Public-Private Council for the Promotion of Next-Generation Geothermal Power Generation, Document 4, Market SAF in Japan / As of 2030 / Dimensions 1.71 million kL / Growth rate Not disclosed / Source Not disclosed |
| Risks identified | Geopolitical risk, Economic security and regulatory changes, Fluctuations in inflation, interest rates, foreign exchange rates and material prices, Greater difficulty in making investment decisions for new technology and new market projects, Higher CAPEX, financing and profitability challenges, Increasingly multilayered technology, procurement, construction and permitting risks, Greater earnings volatility risk in the conventional EPC model, Labor shortages and challenges in passing on technical expertise, Procurement constraints for critical equipment, materials and construction personnel, Sanctions, political conditions and public security |
| Publication date | 19 June 2026 |
Items this document does not state (10)
Operating profit targetOperating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorReason for revision or withdrawalDate 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.As the business environment undergoes major changes, including geopolitical risks, energy security, decarbonization, supply chain restructuring, labor shortages and technological innovation led by AI, the company aims to realize TOYO VISION 2040 by strengthening the earning power of its core businesses and directing their technology, human resources and capital toward future 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.
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