Worth reading
70In 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
1000
¥ billion (sales target for the fiscal year ending March 2035)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.4%
基準 2,026Target2,035hundred million
Operating profit+0.1%
基準 2,026Target2,028hundred million
Operating profit margin+2.0pt
基準 2,026Target2,028%
ROE-2,015.0pt
基準 2,026Target11%
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 plan¥26 billion or more (during the First Medium-Term Management Plan period)
Investment amount by sectorField Capital Expenditure / Amount ¥8 billion, Field Growth Investment / Amount ¥18 billion or more, Field Investment to Expand Production Capacity / Amount ¥6 billion, Field IT Investment / Amount ¥2 billion, Field Research and Development / Amount ¥3 billion, Field M&A / Amount ¥15 billion or more
Statements about the use of capital
Payout ratio / DOE policyDuring the First Medium-Term Management Plan period, the Company will use a DOE of 7.0%-7.5% as a guideline and increase dividends progressively, with the fiscal year ending March 2026 as the lower limit.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 policyDuring the First Medium-Term Management Plan period, the Company will conduct share repurchases totaling approximately ¥3.0-3.5 billion, equivalent to approximately 5% of issued shares. Share repurchases totaling approximately ¥1.5 billion are planned during the fiscal year ending March 2027.
Key initiatives
01Deepening existing businesses
02Global expansion
03Creation of new business domains
04Continuous launches of new high-efficiency oil-free compressors
05Product development for the industrial coatings market and execution of M&A
06Establishment of a Monozukuri Innovation Center and in-house production of core processes and key components
07Promotion of the new business development cycle (alliances, M&A and commercialization)
08Transition to a regional headquarters and CxO structure and establishment of a global management control system
09Review of the domestic personnel system and establishment of a global human resources system
10Acquisition and development of specialists in M&A and other areas
11Establishment of smart coating technology using AI
12Provision of total coating solutions
Plan assumptionsThe market encompassing the existing businesses and adjacent peripheral businesses will not continue indefinitely, and market contraction or disappearance may occur., The Master Plan was formulated by backcasting from the desired state under Vision2035., The size of the target markets is based on the Company's estimates.
Segment targetCategory Europe / Sales target for the fiscal year ending March 2028 ¥10,023 million, Category China / Sales target for the fiscal year ending March 2028 ¥12,100 million, Category Japan / Sales target for the fiscal year ending March 2028 ¥19,827 million, Category Americas / Sales target for the fiscal year ending March 2028 ¥8,526 million, Category India / Sales target for the fiscal year ending March 2028 ¥6,017 million, Category Other / Sales target for the fiscal year ending March 2028 ¥11,524 million
Size of the Target MarketAE business: air compressors, ¥800 billion; gas compressors and vacuum equipment, ¥350 billion; medium-sized general industrial, ¥120 billion; equipment integration, ¥720 billion; gas compressors under the Second Medium-Term Management Plan, ¥840 billion; medium-sized vacuum pumps under the Third Medium-Term Management Plan, ¥960 billion. CT business: coatings market, ¥160 billion; industrial coating equipment, ¥300 billion; simple robotic painting equipment, ¥200 billion; metal coating equipment, ¥420 billion; existing automotive refinishing and airbrush market, ¥60 billion; painting equipment and resin coating, ¥210 billion. All sources are the Company's estimates.
Risks identified by the company
Global Economy
Changes in Exchange Rates
Industry market conditions
Capital investment trends
Market contraction or disappearance
Future outlook may differ from the descriptions provided
Reason for revision or withdrawal
The Company recognized that company-wide transformation would be essential to address future changes in the business environment and market contraction. It clarified the Vision2035 ideal of becoming an energy solutions manufacturer and formulated the Master Plan and business strategies through backcasting.
| Item | Details |
|---|---|
| Plan name | Long-Term Growth Strategy - Master Plan toward Vision2035 - / First Medium-Term Management Plan 2025-2027 |
| Plan period | 2025-2027 (First Medium-Term Management Plan), from the fiscal year ending March 2035 onward (Vision2035) |
| Progress against the plan | Formulated |
| Sales Target | ¥55.9 billion (actual for the fiscal year ended March 2026) → ¥62.0 billion (target for the fiscal year ending March 2028), ¥100 billion (target for the fiscal year ending March 2035)（10.9%／78.9%） |
| Operating profit target | ¥5.56 billion (actual for the fiscal year ended March 2026) → ¥6.17 billion (target for the fiscal year ending March 2028)（9.2%） |
| Operating profit margin target | 10.0% (actual for the fiscal year ended March 2026) → 10.0% (target for the fiscal year ending March 2028)（0.0%） |
| ROE target | 11.0% (actual for the fiscal year ended March 2026) → 11.0% (at the end of the First Medium-Term Management Plan period)（0.0%） |
| Payout ratio / DOE policy | During the First Medium-Term Management Plan period, the Company will use a DOE of 7.0%-7.5% as a guideline and increase dividends progressively, with the fiscal year ending March 2026 as the lower limit. |
| Treasury share acquisition policy | During the First Medium-Term Management Plan period, the Company will conduct share repurchases totaling approximately ¥3.0-3.5 billion, equivalent to approximately 5% of issued shares. Share repurchases totaling approximately ¥1.5 billion are planned during the fiscal year ending March 2027. |
| Total investment plan | ¥26 billion or more (during the First Medium-Term Management Plan period) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥8 billion, Field Growth Investment / Amount ¥18 billion or more, Field Investment to Expand Production Capacity / Amount ¥6 billion, Field IT Investment / Amount ¥2 billion, Field Research and Development / Amount ¥3 billion, Field M&A / Amount ¥15 billion or more |
| Segment target | Category Europe / Sales target for the fiscal year ending March 2028 ¥10,023 million, Category China / Sales target for the fiscal year ending March 2028 ¥12,100 million, Category Japan / Sales target for the fiscal year ending March 2028 ¥19,827 million, Category Americas / Sales target for the fiscal year ending March 2028 ¥8,526 million, Category India / Sales target for the fiscal year ending March 2028 ¥6,017 million, Category Other / Sales target for the fiscal year ending March 2028 ¥11,524 million |
| Plan assumptions | The market encompassing the existing businesses and adjacent peripheral businesses will not continue indefinitely, and market contraction or disappearance may occur., The Master Plan was formulated by backcasting from the desired state under Vision2035., The size of the target markets is based on the Company's estimates. |
| Key initiatives | Deepening existing businesses, Global expansion, Creation of new business domains, Continuous launches of new high-efficiency oil-free compressors, Product development for the industrial coatings market and execution of M&A, Establishment of a Monozukuri Innovation Center and in-house production of core processes and key components, Promotion of the new business development cycle (alliances, M&A and commercialization), Transition to a regional headquarters and CxO structure and establishment of a global management control system, Review of the domestic personnel system and establishment of a global human resources system, Acquisition and development of specialists in M&A and other areas, Establishment of smart coating technology using AI, Provision of total coating solutions |
| Reason for revision or withdrawal | The Company recognized that company-wide transformation would be essential to address future changes in the business environment and market contraction. It clarified the Vision2035 ideal of becoming an energy solutions manufacturer and formulated the Master Plan and business strategies through backcasting. |
| Size of the Target Market | AE business: air compressors, ¥800 billion; gas compressors and vacuum equipment, ¥350 billion; medium-sized general industrial, ¥120 billion; equipment integration, ¥720 billion; gas compressors under the Second Medium-Term Management Plan, ¥840 billion; medium-sized vacuum pumps under the Third Medium-Term Management Plan, ¥960 billion. CT business: coatings market, ¥160 billion; industrial coating equipment, ¥300 billion; simple robotic painting equipment, ¥200 billion; metal coating equipment, ¥420 billion; existing automotive refinishing and airbrush market, ¥60 billion; painting equipment and resin coating, ¥210 billion. All sources are the Company's estimates. |
| Risks identified | Global Economy, Changes in Exchange Rates, Industry market conditions, Capital investment trends, Market contraction or disappearance, Future outlook may differ from the descriptions provided |
| Publication date | 12 May 2026 |
Items this document does not state (7)
Net income targetROIC targetCost of capitalSelf-assessment of PBR and share priceNon-financial targetsResults under the previous planDate 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 Company recognized that company-wide transformation would be necessary to address future changes in the business environment and market contraction, and to realize the Vision2035 ideal of becoming an energy solutions manufacturer.
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