Worth reading
60In 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
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+0.2%
基準 2,025Target2,029100 million
Operating profit+0.2%
基準 2,025Target2,029100 million
ROE+4.0pt
基準 2,025Target2,029％
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.
Investment amount by sectorField Business Investment / Amount Not disclosed, Field Capital expenditure and DX investment / Amount Not disclosed, Field Human Capital Investment / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe company aims for a dividend payout ratio of at least 35%. The applicable period is FY2025–FY2029, the period covered by the medium-term management plan.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalAssumed cost of shareholders’ equity: 9%. The chart also states a cost of shareholders’ equity of 5–9%.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 PBR falling below 1x was resolved, and PBR was 1.53x for the fiscal year ended March 2026. The company considers PER to remain low relative to the market average and states that it will work to enhance disclosure and improve liquidity. The closing share price on 12 May 2026 was ¥2,400, and the market capitalization of common stock was ¥50.3 billion.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strengthening Existing Businesses
02Expansion into New Business Areas
03DX and human capital investment
04Strengthening product competitiveness
05Strengthening product lifecycle management, starting with renewals
06Promoting standardization and modularization
07Advancing cost management, centered on more precise cost control and leveling factory operating rates
08Appropriate management of cash on hand
09Containing working capital by shortening the cash conversion cycle
10Pursuing M&A investments
11Establishing next-generation factories
12Accelerating DX investment
13Increasing investment to improve productivity
14Strengthening human resources portfolio management
15Supporting reskilling and reallocating personnel across the company
16Training by management level and developing the next generation of executives
17Increasing sensitivity through restricted stock-based compensation
18Reviewing the dividend payout ratio
19Making greater use of debt, with an awareness of a debt-to-equity ratio of approximately 1x
20Strengthening careful information disclosure on the company website
Risks identified by the company
Forward-looking statements are based on information currently available and certain assumptions considered reasonable, and actual results and other outcomes may differ materially due to various factors.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Plan period | First year: FY2026; final year: FY2029 (dividend policy period: FY2025–FY2029) |
| Progress against the plan | Annual update |
| Sales Target | FY2025 actual: ¥26.4 billion → FY2029 target: ¥35.0 billion |
| Operating profit target | FY2025 actual: ¥4.1 billion → FY2029 target: ¥4.0 billion |
| ROE target | FY2025 actual: 15.4% → FY2029 target: 10.0% |
| Payout ratio / DOE policy | The company aims for a dividend payout ratio of at least 35%. The applicable period is FY2025–FY2029, the period covered by the medium-term management plan. |
| Cost of capital | Assumed cost of shareholders’ equity: 9%. The chart also states a cost of shareholders’ equity of 5–9%. |
| Self-assessment of PBR and share price | The PBR falling below 1x was resolved, and PBR was 1.53x for the fiscal year ended March 2026. The company considers PER to remain low relative to the market average and states that it will work to enhance disclosure and improve liquidity. The closing share price on 12 May 2026 was ¥2,400, and the market capitalization of common stock was ¥50.3 billion. |
| Investment amount by sector | Field Business Investment / Amount Not disclosed, Field Capital expenditure and DX investment / Amount Not disclosed, Field Human Capital Investment / Amount Not disclosed |
| Key initiatives | Strengthening Existing Businesses, Expansion into New Business Areas, DX and human capital investment, Strengthening product competitiveness, Strengthening product lifecycle management, starting with renewals, Promoting standardization and modularization, Advancing cost management, centered on more precise cost control and leveling factory operating rates, Appropriate management of cash on hand, Containing working capital by shortening the cash conversion cycle, Pursuing M&A investments, Establishing next-generation factories, Accelerating DX investment, Increasing investment to improve productivity, Strengthening human resources portfolio management, Supporting reskilling and reallocating personnel across the company, Training by management level and developing the next generation of executives, Increasing sensitivity through restricted stock-based compensation, Reviewing the dividend payout ratio, Making greater use of debt, with an awareness of a debt-to-equity ratio of approximately 1x, Strengthening careful information disclosure on the company website |
| Risks identified | Forward-looking statements are based on information currently available and certain assumptions considered reasonable, and actual results and other outcomes may differ materially due to various factors. |
| Date of board resolution | 13 May 2026 |
| Publication date | 13 May 2026 |
Items this document does not state (11)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyTotal investment planSegment targetNon-financial targetsPlan assumptionsResults under the previous planReason for revision or withdrawalSize 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 company stated that its share price rose after February 2025, supported by the market’s favorable response to higher EPS and an increased dividend payout ratio following the revision of its earnings outlook. ROE also increased as revenue recognition from highly profitable orders and the passing through of higher component prices progressed, while PER rose as the market responded favorably to the improvement in earnings.
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.