Worth reading
55In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
2900
¥100 million (fiscal 2029 revenue target)Wording
Conditional
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationFiscal year ending March 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Operating profit margin
RateAt least 23% (fiscal 2029 target)
Full-year earnings forecastRevenue of ¥290 billion, an operating margin of at least 23% and ROE of at least 12% (fiscal 2029 forecast and targets)
What the company explained in this material
New initiatives
Expansion of the Tohoku Advanced Technology Center; establishment of an automotive-focused manufacturing site in Chennai, India; updated cash allocation for fiscal 2026–2029; expansion into new fields including AI-related products and optical active connectors; and renewal of the core information systemsSegment results
Revenue mix for fiscal 2025 actual results versus the fiscal 2029 forecast: Consumer 31% → 31%, Automotive 31% → 26%, Industrial Equipment 29% → 29%, Communications 4% → 5%, SER and other 5% → 4%, and new fields including consumer electronics and mobile 16% (fiscal 2029 forecast)Medium-term management plan targets
Fiscal 2029: revenue of ¥290 billion, an operating margin of at least 23% and ROE of at least 12%. Comparison of the revenue mix for fiscal 2025 actual results and the fiscal 2029 forecast.Financial targets
ROE of at least 12% (fiscal 2029 target). Operating margin of at least 23% (fiscal 2029 target)Number of stores and locations
The Tohoku Advanced Technology Center began operations in March 2024, with the expansion scheduled for completion in spring 2027. The company plans to establish an automotive-focused manufacturing site in Chennai, India, and aims to begin operations in 2027. Other location counts and store openings and closures are not disclosed.Capital expenditures
Approximately ¥1.5 billion (initial investment in the Tohoku Advanced Technology Center), slightly more than ¥10 billion (new Koriyama plant), and slightly less than ¥3 billion (expansion of ヒロセコリア)
Payout ratio
DOE of 5% and shareholder returns of 40–50% (cumulative cash allocation for fiscal 2026–2029)Acquisition of treasury shares
The company refers to an ongoing share repurchase program, but the authorized amount, number of shares and period are not disclosed.| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Operating profit margin | Rate At least 23% (fiscal 2029 target) / Year on year against the same period last year Not disclosed |
| Full-year earnings forecast | Revenue of ¥290 billion, an operating margin of at least 23% and ROE of at least 12% (fiscal 2029 forecast and targets) |
| Segment results | Revenue mix for fiscal 2025 actual results versus the fiscal 2029 forecast: Consumer 31% → 31%, Automotive 31% → 26%, Industrial Equipment 29% → 29%, Communications 4% → 5%, SER and other 5% → 4%, and new fields including consumer electronics and mobile 16% (fiscal 2029 forecast) |
| Number of stores and locations | The Tohoku Advanced Technology Center began operations in March 2024, with the expansion scheduled for completion in spring 2027. The company plans to establish an automotive-focused manufacturing site in Chennai, India, and aims to begin operations in 2027. Other location counts and store openings and closures are not disclosed. |
| Medium-term management plan targets | Fiscal 2029: revenue of ¥290 billion, an operating margin of at least 23% and ROE of at least 12%. Comparison of the revenue mix for fiscal 2025 actual results and the fiscal 2029 forecast. |
| Financial targets | ROE of at least 12% (fiscal 2029 target). Operating margin of at least 23% (fiscal 2029 target) |
| Payout ratio | DOE of 5% and shareholder returns of 40–50% (cumulative cash allocation for fiscal 2026–2029) |
| Acquisition of treasury shares | The company refers to an ongoing share repurchase program, but the authorized amount, number of shares and period are not disclosed. |
| Capital expenditures | Approximately ¥1.5 billion (initial investment in the Tohoku Advanced Technology Center), slightly more than ¥10 billion (new Koriyama plant), and slightly less than ¥3 billion (expansion of ヒロセコリア) |
| New initiatives | Expansion of the Tohoku Advanced Technology Center; establishment of an automotive-focused manufacturing site in Chennai, India; updated cash allocation for fiscal 2026–2029; expansion into new fields including AI-related products and optical active connectors; and renewal of the core information systems |
Items this document does not state (19)
Net SalesOperating profitOrdinary incomeNet incomeGross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeKey KPIsUnit price and quantity metricsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendOrders received and order backlogMarket Size / ShareKey points of the Q&A
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 accelerate quality growth over the medium term and improve capital efficiency. The company will pursue growth in automotive, industrial equipment and consumer markets, expand into new fields, and enhance its product development capabilities, production technologies and global production capacity. The India site is intended to serve the growing local market, address customers’ “Make in India” needs and diversify the supply chain.
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.