Worth reading
66In 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
1500
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+28.6%
基準 1,166Target1,500Hundreds of millions of yen
Operating profit+29.0%
基準 155Target200Hundreds of millions of yen
Operating profit margin0.0pt
基準 13.3Target13.3％
ROE+0.4pt
基準 9.6Target10％
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 planOperating margin of 12%, ROE of 10%, DOE of at least 2.5% as guidelines, a record-high operating income, and a ¥20 billion investment budget for growth strategies → Operating margin of 13.3%, ROE of 9.6%, DOE of 3.0%, operating income of ¥15.5 billion (record high), and cumulative investment of ¥5 billion under the growth strategy investment budget-22.5%Calculated from the two disclosed figures
Total investment plan¥62 billion investment budget for growth strategies, including M&A, and ¥10 billion investment in existing businesses
Investment amount by sectorField Fire apparatus business / Amount 350 Hundreds of millions of yen / Remarks Including M&A, Field Disaster-Prevention Business / Amount 200 Hundreds of millions of yen / Remarks Including M&A, Field Industrial-Machinery Business / Amount 30 Hundreds of millions of yen, Field Environmental vehicle business / Amount 40 Hundreds of millions of yen, Field Investment in existing businesses / Amount 100 Hundreds of millions of yen
Statements about the use of capital
Payout ratio / DOE policyFY2026–FY2030. The basic policy is to continue and increase stable dividends, with DOE of at least 3.5% as a guideline.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 policyFY2026–FY2030. Share repurchases will be carried out flexibly, taking into account the business environment, share price trends, and financial condition, as a shareholder return measure to improve capital efficiency and complement the dividend policy. Repurchases will be capped at approximately 10% of the total number of shares issued, and the excess will generally be cancelled.
Cost of capitalCost of shareholders’ equity: 5%–7% (reference range based on CAPM)The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Key initiatives
01Evolving the business model
02Differentiation and higher value added through innovation
03Strengthening the management platform
04Developing markets and next-generation products
05Commercializing products and services that support firefighting operations
06DX for vehicle reliability and maintenance services
07Global expansion of technology-leading models
08Building a robust sales, supply, and service structure
09Maximizing production and supply efficiency
10Advancing disaster prevention solutions and expanding revenue models
11Creating and deploying next-generation disaster prevention solutions
12Strengthening the earnings base by reinforcing the production structure and business foundation
13Expanding into new growth areas in a circular economy
14Expanding business domains and advancing technology development through strategic partnerships
15Deepening a high-value-added total support structure
16Strengthening product capabilities to meet market needs
17Strengthening service capabilities, building a recurring-revenue business, and reinforcing a stable earnings base
18Expanding production capacity by strengthening the design and production foundations
19Strengthening the human capital base supporting the growth strategy
20Research and Development
21Governance
Segment targetSegment Fire apparatus business / Net Sales ¥860 100 million, % / Operating profit ¥113 100 million, % / Operating margin ¥13.1 100 million, % / Revenue CAGR +3.7％ / Operating income CAGR +6.6％ / Growth Investment ¥350 100 million, %, Segment Disaster-Prevention Business / Net Sales ¥400 100 million, % / Operating profit ¥60 100 million, % / Operating margin ¥15 100 million, % / Revenue CAGR +10.0％ / Operating income CAGR +3.3％ / Growth Investment ¥200 100 million, %, Segment Industrial-Machinery Business / Net Sales ¥80 100 million, % / Operating profit ¥12 100 million, % / Operating margin ¥15 100 million, % / Revenue CAGR +4.2％ / Operating income CAGR +5.9％ / Growth Investment ¥30 100 million, %, Segment Environmental vehicle business / Net Sales ¥160 100 million, % / Operating profit ¥15 100 million, % / Operating margin ¥9.3 100 million, % / Revenue CAGR +3.6％ / Operating income CAGR +2.9％ / Growth Investment ¥40 100 million, %
Non-financial targetsIndicator Overseas sales ratio in the fire apparatus business / Current status 32 ％ / Target 43 ％ / Timing FY2030
Risks identified by the company
Economic Conditions
Market Environment
Exchange-rate trends
Competitive Environment
Business continuity risk
Reason for revision or withdrawal
The role that the Group is expected to play is becoming increasingly important as social challenges in the disaster prevention and environmental fields diversify and technological innovation advances.
| Item | Details |
|---|---|
| Plan name | Morita Growth 2030 |
| Plan period | Fiscal years 2026–2030 |
| Progress against the plan | Formulated |
| Sales Target | 1,166 Hundreds of millions of yen → 1,500 Hundreds of millions of yen |
| Operating profit target | 155 Hundreds of millions of yen → 200 Hundreds of millions of yen |
| Operating profit margin target | 13.3 ％ → 13.3 ％ |
| ROE target | 9.6 ％ → At least 10% |
| Payout ratio / DOE policy | FY2026–FY2030. The basic policy is to continue and increase stable dividends, with DOE of at least 3.5% as a guideline. |
| Treasury share acquisition policy | FY2026–FY2030. Share repurchases will be carried out flexibly, taking into account the business environment, share price trends, and financial condition, as a shareholder return measure to improve capital efficiency and complement the dividend policy. Repurchases will be capped at approximately 10% of the total number of shares issued, and the excess will generally be cancelled. |
| Cost of capital | Cost of shareholders’ equity: 5%–7% (reference range based on CAPM) |
| Total investment plan | ¥62 billion investment budget for growth strategies, including M&A, and ¥10 billion investment in existing businesses |
| Investment amount by sector | Field Fire apparatus business / Amount 350 Hundreds of millions of yen / Remarks Including M&A, Field Disaster-Prevention Business / Amount 200 Hundreds of millions of yen / Remarks Including M&A, Field Industrial-Machinery Business / Amount 30 Hundreds of millions of yen, Field Environmental vehicle business / Amount 40 Hundreds of millions of yen, Field Investment in existing businesses / Amount 100 Hundreds of millions of yen |
| Segment target | Segment Fire apparatus business / Net Sales ¥860 100 million, % / Operating profit ¥113 100 million, % / Operating margin ¥13.1 100 million, % / Revenue CAGR +3.7％ / Operating income CAGR +6.6％ / Growth Investment ¥350 100 million, %, Segment Disaster-Prevention Business / Net Sales ¥400 100 million, % / Operating profit ¥60 100 million, % / Operating margin ¥15 100 million, % / Revenue CAGR +10.0％ / Operating income CAGR +3.3％ / Growth Investment ¥200 100 million, %, Segment Industrial-Machinery Business / Net Sales ¥80 100 million, % / Operating profit ¥12 100 million, % / Operating margin ¥15 100 million, % / Revenue CAGR +4.2％ / Operating income CAGR +5.9％ / Growth Investment ¥30 100 million, %, Segment Environmental vehicle business / Net Sales ¥160 100 million, % / Operating profit ¥15 100 million, % / Operating margin ¥9.3 100 million, % / Revenue CAGR +3.6％ / Operating income CAGR +2.9％ / Growth Investment ¥40 100 million, % |
| Non-financial targets | Indicator Overseas sales ratio in the fire apparatus business / Current status 32 ％ / Target 43 ％ / Timing FY2030 |
| Key initiatives | Evolving the business model, Differentiation and higher value added through innovation, Strengthening the management platform, Developing markets and next-generation products, Commercializing products and services that support firefighting operations, DX for vehicle reliability and maintenance services, Global expansion of technology-leading models, Building a robust sales, supply, and service structure, Maximizing production and supply efficiency, Advancing disaster prevention solutions and expanding revenue models, Creating and deploying next-generation disaster prevention solutions, Strengthening the earnings base by reinforcing the production structure and business foundation, Expanding into new growth areas in a circular economy, Expanding business domains and advancing technology development through strategic partnerships, Deepening a high-value-added total support structure, Strengthening product capabilities to meet market needs, Strengthening service capabilities, building a recurring-revenue business, and reinforcing a stable earnings base, Expanding production capacity by strengthening the design and production foundations, Strengthening the human capital base supporting the growth strategy, Research and Development, Governance |
| Results under the previous plan | Operating margin of 12%, ROE of 10%, DOE of at least 2.5% as guidelines, a record-high operating income, and a ¥20 billion investment budget for growth strategies → Operating margin of 13.3%, ROE of 9.6%, DOE of 3.0%, operating income of ¥15.5 billion (record high), and cumulative investment of ¥5 billion under the growth strategy investment budget |
| Reason for revision or withdrawal | The role that the Group is expected to play is becoming increasingly important as social challenges in the disaster prevention and environmental fields diversify and technological innovation advances. |
| Risks identified | Economic Conditions, Market Environment, Exchange-rate trends, Competitive Environment, Business continuity risk |
| Publication date | 22 June 2026 |
Items this document does not state (6)
Net income targetROIC targetSelf-assessment of PBR and share pricePlan assumptionsSize of the Target MarketDate 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 role that the Group is expected to play is becoming increasingly important as social challenges in the disaster prevention and environmental fields diversify and technological innovation advances.
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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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.