Worth reading
63In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
10
¥100 million (cumulative shareholder returns over 3 years, versus the original plan)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedROE-2,018.0pt
基準 2,026Target8％
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).
Operating profit marginNot disclosed → At least 6% (to be achieved ahead of schedule)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planPBR of at least 1x → PBR of 0.71x (fiscal year ended March 2026)+202,500.0%Calculated from the two disclosed figures
Total investment planAt least ¥12.5 billion cumulatively over 3 years (at least ¥10 billion in growth investments plus ¥2.5 billion in other investments; at least ¥4 billion in shareholder returns is presented separately)
Investment amount by sectorField Growth Investment (M&A, Capital Expenditure and R&D) / Amount At least ¥10 billion, Field Other investments (replacement investment, DX investment and ESG-related investment) / Amount ¥2.5 billion
Statements about the use of capital
Payout ratio / DOE policyStrengthen shareholder returns through dividends and share buybacks to at least ¥4 billion cumulatively over 3 years. Numerical targets for the payout ratio and DOE are not disclosed.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 policyFlexible share buybacks. The cumulative shareholder return framework over 3 years is at least ¥4 billion; specific timing and conditions for the buybacks are not disclosed.
Cost of capitalCost of shareholders' equity of approximately 5.0–8.0% (CAPM model); the cost of shareholders' equity required by the equity market is approximately 8.0%.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR has been trending upward as the share price has risen, but remained below 1x in each of the past 5 years. PBR was 0.71x in the fiscal year ended March 2026 and is approximately 0.7–0.8x currently. The share price rose 8.1% over 5 years, but underperformed the TOPIX by more than approximately 70 points.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Measures to improve earnings power
02Measures to improve capital efficiency (balance sheet measures)
03Fostering growth expectations
04Renewal of the Core System
05Factory renovations
06Business and technical alliances
07M&A
08Capital Alliances
09Research and development
10Advancement of sustainability management
11Improving business understanding and growth expectations through stronger public relations
12IR and SR activities
Risks identified by the company
Changes in economic conditions and product demand in major markets
Foreign Exchange Volatility
Changes in various domestic and overseas regulations
Changes in accounting standards, practices and other requirements
Reason for revision or withdrawal
Capital allocation was updated in response to changes in the business environment, recent performance and shareholder return results.
| Item | Details |
|---|---|
| Plan name | Medium-term management plan "DKK-Plan2028" |
| Progress against the plan | Partially revised |
| Operating profit margin target | Not disclosed → At least 6% (to be achieved ahead of schedule) |
| ROE target | 5.2% (actual for the fiscal year ended March 2026) → At least 8% (ROE exceeding the cost of shareholders' equity) |
| Payout ratio / DOE policy | Strengthen shareholder returns through dividends and share buybacks to at least ¥4 billion cumulatively over 3 years. Numerical targets for the payout ratio and DOE are not disclosed. |
| Treasury share acquisition policy | Flexible share buybacks. The cumulative shareholder return framework over 3 years is at least ¥4 billion; specific timing and conditions for the buybacks are not disclosed. |
| Cost of capital | Cost of shareholders' equity of approximately 5.0–8.0% (CAPM model); the cost of shareholders' equity required by the equity market is approximately 8.0%. |
| Self-assessment of PBR and share price | PBR has been trending upward as the share price has risen, but remained below 1x in each of the past 5 years. PBR was 0.71x in the fiscal year ended March 2026 and is approximately 0.7–0.8x currently. The share price rose 8.1% over 5 years, but underperformed the TOPIX by more than approximately 70 points. |
| Total investment plan | At least ¥12.5 billion cumulatively over 3 years (at least ¥10 billion in growth investments plus ¥2.5 billion in other investments; at least ¥4 billion in shareholder returns is presented separately) |
| Investment amount by sector | Field Growth Investment (M&A, Capital Expenditure and R&D) / Amount At least ¥10 billion, Field Other investments (replacement investment, DX investment and ESG-related investment) / Amount ¥2.5 billion |
| Key initiatives | Measures to improve earnings power, Measures to improve capital efficiency (balance sheet measures), Fostering growth expectations, Renewal of the Core System, Factory renovations, Business and technical alliances, M&A, Capital Alliances, Research and development, Advancement of sustainability management, Improving business understanding and growth expectations through stronger public relations, IR and SR activities |
| Results under the previous plan | PBR of at least 1x → PBR of 0.71x (fiscal year ended March 2026) |
| Reason for revision or withdrawal | Capital allocation was updated in response to changes in the business environment, recent performance and shareholder return results. |
| Risks identified | Changes in economic conditions and product demand in major markets, Foreign Exchange Volatility, Changes in various domestic and overseas regulations, Changes in accounting standards, practices and other requirements |
| Date of board resolution | 27 August 2026 |
| Publication date | 27 August 2026 |
Items this document does not state (9)
Plan periodSales TargetOperating profit targetNet income targetROIC targetSegment targetNon-financial targetsPlan assumptionsSize 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.Capital allocation was updated in response to changes in the business environment, recent performance and shareholder return results. The company also aims to improve its market valuation and PER by strengthening proactive IR activities and information disclosure.
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.