Worth reading
68In 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
6000
¥100 million (FY31 net sales target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales-70.4%
基準 2,025Target600Hundreds of millions of yen
Operating profit margin-1,994.0pt
基準 2,025Target31%
ROE-1,994.0pt
基準 2,025Target31%
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.
Operating profit¥18 billion (FY25 management target under Management Plan 2025) → Not disclosed
Net income for the current fiscal year¥10 billion (FY25 management target under Management Plan 2025) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet Sales ¥450.0 billion / Operating profit ¥18 billion / Net income for the current fiscal year ¥10 billion / Operating profit margin 4% / Equity ratio 30% / ROE 8% / Payout ratio At least 30% → Net Sales ¥421.6 billion (FY25 actual) / Operating profit ¥18.8 billion (FY25 actual) / Net income for the current fiscal year ¥21.5 billion (FY25 actual) / Operating profit margin 4.5% (FY25 actual) / Equity ratio 40.5% (FY25 actual) / ROE 13% (10% excluding one-off factors) / Payout ratio 26%（Varies by metric）
Total investment plan¥295 billion (¥125 billion in the first 3 years and ¥170 billion in the latter 3 years)
Investment amount by sectorField Human capital investment / Amount ¥9 billion (latter 3 years) / ¥16.5 billion (FY26–FY31 cash allocation), Field Investment in management system reform / Amount ¥16 billion (latter 3 years) / ¥37.5 billion (FY26–FY31 cash allocation), Field Investment in high-growth markets / Amount ¥34 billion (latter 3 years) / ¥5 billion in R&D and ¥45 billion in capital expenditure (FY26–FY31), Field Investment in core business innovation / Amount ¥111 billion (latter 3 years) / ¥70 billion in R&D and ¥120 billion in capital expenditure (FY26–FY31)
Statements about the use of capital
Payout ratio / DOE policyThe company will continue stable dividend payments and aims for a payout ratio of 35% or more in FY31. DOE is not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe stock price is 4.8 times and PBR is 1.94 times as of 12 May 2026. The company states that these had risen from a stock price of ¥718 and PBR of 0.63 times in March 2023.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Innovation in core businesses
02Pursuit of opportunities in high-growth markets
03Implementation of intellectual capital management
04Management system reform
05Human capital investment
06Responding to increased defense demand (expanding production capacity)
07Proactive response to transfers of defense equipment to overseas markets
08Strengthening capabilities to address fire and disaster prevention and road traffic issues
09Expanding deployment in civilian-demand markets, including roads, railways and aviation
10Strengthening the response to the transition to next-generation networks such as 6G and APN
11Capturing communications equipment and large-scale private network businesses
12Advancing product development
13Improving production efficiency
14Strengthening overseas operations
15Expanding from a focus on maintenance and call center support to full outsourcing
16Entering the optoelectronic integration market
17Entering the GaN power semiconductor market
18Expanding the provision of high-value-added PCBs in the aerospace market
19Establishing a management structure focused exclusively on the pure-play EMS business
20Focusing on existing major customers
Plan assumptionsBased on information available at present and certain assumptions deemed reasonable. Numerical assumptions regarding specific exchange rates, market growth rates, raw material prices and other factors are not disclosed.
Segment targetSegment Public Solutions Segment / FY2025 revenue ¥146.4 billion / FY31 net sales ¥200 billion or more / FY2025 operating margin 12.3% / FY31 operating margin 13% or more, Segment Financial Solutions Segment / FY2025 revenue ¥141.2 billion / FY31 net sales ¥250 billion or more / FY2025 operating margin 6.8% / FY31 operating margin Not disclosed, Segment Components & Manufacturing Segment / FY2025 revenue ¥129.5 billion / FY31 net sales ¥150 billion or more / FY2025 operating margin 4.0% / FY31 operating margin At least 6%, Segment Advanced Components Business / FY2025 revenue ¥34.0 billion / FY31 net sales At least ¥60.0 billion / FY2025 operating margin 4% / FY31 operating margin 10% or higher
Non-financial targetsIndicator Management talent candidate pool / Target value 300 people / Timing FY31, Indicator Rate of implementation of challenging behaviors / Target value 50% / Timing FY31, Indicator Productivity Improvement / Target value +40% / Timing FY31
Risks identified by the company
Actual results may differ from earnings forecasts, business plans and other projections due to various factors.
Reason for revision or withdrawal
A shift in management from defense to offense. The company will make proactive investments to realize its intellectual capital and business strategies through the implementation of intellectual capital management (embedding the corporate philosophy × advancing strategies × strengthening execution capabilities).
| Item | Details |
|---|---|
| Plan name | New Management Plan 2031 |
| Plan period | FY26～FY31 |
| Progress against the plan | Formulated |
| Sales Target | ¥421.6 billion (FY2025 actual) → ¥600 billion or more (FY31 target)（42.3% or more） |
| Operating profit target | ¥18 billion (FY25 management target under Management Plan 2025) → Not disclosed |
| Operating profit margin target | 4.5% (fiscal 2025 actual) → 7% or more (FY31 target)（55.6% or more） |
| Net income target | ¥10 billion (FY25 management target under Management Plan 2025) → Not disclosed |
| ROE target | 10% (FY2025 actual, excluding one-off factors) → 10% or more (FY31 target) |
| Payout ratio / DOE policy | The company will continue stable dividend payments and aims for a payout ratio of 35% or more in FY31. DOE is not disclosed. |
| Self-assessment of PBR and share price | The stock price is 4.8 times and PBR is 1.94 times as of 12 May 2026. The company states that these had risen from a stock price of ¥718 and PBR of 0.63 times in March 2023. |
| Total investment plan | ¥295 billion (¥125 billion in the first 3 years and ¥170 billion in the latter 3 years) |
| Investment amount by sector | Field Human capital investment / Amount ¥9 billion (latter 3 years) / ¥16.5 billion (FY26–FY31 cash allocation), Field Investment in management system reform / Amount ¥16 billion (latter 3 years) / ¥37.5 billion (FY26–FY31 cash allocation), Field Investment in high-growth markets / Amount ¥34 billion (latter 3 years) / ¥5 billion in R&D and ¥45 billion in capital expenditure (FY26–FY31), Field Investment in core business innovation / Amount ¥111 billion (latter 3 years) / ¥70 billion in R&D and ¥120 billion in capital expenditure (FY26–FY31) |
| Segment target | Segment Public Solutions Segment / FY2025 revenue ¥146.4 billion / FY31 net sales ¥200 billion or more / FY2025 operating margin 12.3% / FY31 operating margin 13% or more, Segment Financial Solutions Segment / FY2025 revenue ¥141.2 billion / FY31 net sales ¥250 billion or more / FY2025 operating margin 6.8% / FY31 operating margin Not disclosed, Segment Components & Manufacturing Segment / FY2025 revenue ¥129.5 billion / FY31 net sales ¥150 billion or more / FY2025 operating margin 4.0% / FY31 operating margin At least 6%, Segment Advanced Components Business / FY2025 revenue ¥34.0 billion / FY31 net sales At least ¥60.0 billion / FY2025 operating margin 4% / FY31 operating margin 10% or higher |
| Non-financial targets | Indicator Management talent candidate pool / Target value 300 people / Timing FY31, Indicator Rate of implementation of challenging behaviors / Target value 50% / Timing FY31, Indicator Productivity Improvement / Target value +40% / Timing FY31 |
| Plan assumptions | Based on information available at present and certain assumptions deemed reasonable. Numerical assumptions regarding specific exchange rates, market growth rates, raw material prices and other factors are not disclosed. |
| Key initiatives | Innovation in core businesses, Pursuit of opportunities in high-growth markets, Implementation of intellectual capital management, Management system reform, Human capital investment, Responding to increased defense demand (expanding production capacity), Proactive response to transfers of defense equipment to overseas markets, Strengthening capabilities to address fire and disaster prevention and road traffic issues, Expanding deployment in civilian-demand markets, including roads, railways and aviation, Strengthening the response to the transition to next-generation networks such as 6G and APN, Capturing communications equipment and large-scale private network businesses, Advancing product development, Improving production efficiency, Strengthening overseas operations, Expanding from a focus on maintenance and call center support to full outsourcing, Entering the optoelectronic integration market, Entering the GaN power semiconductor market, Expanding the provision of high-value-added PCBs in the aerospace market, Establishing a management structure focused exclusively on the pure-play EMS business, Focusing on existing major customers |
| Results under the previous plan | Net Sales ¥450.0 billion / Operating profit ¥18 billion / Net income for the current fiscal year ¥10 billion / Operating profit margin 4% / Equity ratio 30% / ROE 8% / Payout ratio At least 30% → Net Sales ¥421.6 billion (FY25 actual) / Operating profit ¥18.8 billion (FY25 actual) / Net income for the current fiscal year ¥21.5 billion (FY25 actual) / Operating profit margin 4.5% (FY25 actual) / Equity ratio 40.5% (FY25 actual) / ROE 13% (10% excluding one-off factors) / Payout ratio 26%（Varies by metric） |
| Reason for revision or withdrawal | A shift in management from defense to offense. The company will make proactive investments to realize its intellectual capital and business strategies through the implementation of intellectual capital management (embedding the corporate philosophy × advancing strategies × strengthening execution capabilities). |
| Risks identified | Actual results may differ from earnings forecasts, business plans and other projections due to various factors. |
| Publication date | 13 May 2026 |
Items this document does not state (5)
ROIC targetTreasury share acquisition policyCost of capitalSize 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.To shift management from defense to offense, implement intellectual capital management, and strengthen intellectual capital and business strategies.
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.