Worth reading
52Recurring
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
180
¥100 million (FY2028 operating profit plan)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+8.3%
基準 2,400Target2,600million
Operating profit+0.1%
基準 2,026Target2,028million
ROE+5.0pt
基準 2,025Target2,030%
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 planNot disclosed → Net sales of ¥227.9 billion, operating profit of ¥8.9 billion and ROE of 5.1% (FY2025 actual)
Total investment planApproximately ¥103 billion in total (approximately ¥40 billion in growth investments plus approximately ¥63 billion in capital expenditures, over the three years from FY2026 to FY2028)
Investment amount by sectorField Growth investments (including M&A) / Amount Approximately ¥40 billion, Field Capital Expenditures / Amount Approximately ¥63 billion
Statements about the use of capital
Payout ratio / DOE policyMaintain a dividend payout ratio of at least 30%. Total dividends of approximately ¥12 billion are expected over the medium-term plan period (FY2026-FY2028).The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Portfolio transformation
02Strengthening the Business Platform
03Accelerate resource shifts and pursue an optimal market balance
04Improve management efficiency and strengthen growth capabilities
05Global expansion strategy
06Synergies from collaboration with Kyocera
07Strengthen the IT infrastructure
08Promoting Sustainability Management
Segment targetSegment name Mobile equipment market / Sales Target ¥60 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Automotive Market / Sales Target ¥123 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Industrial machinery and infrastructure market / Sales Target ¥40 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Aerospace market / Sales Target ¥13 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Connector Business / Sales Target ¥233 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Aviation equipment business / Sales Target ¥27 billion (FY2028 plan) / Profit Target Defense operating margin of at least 10%
Non-financial targetsIndicator name Defense production capacity / Target value Double / Timing Not disclosed
Risks identified by the company
Political and economic conditions in Japan, the US, Europe, Asia and elsewhere
Demand fluctuations for JAE products, including software products, in the market
Downward pressure on prices resulting from intensifying competition
The ability to continue supplying products while competing successfully against competitors
The ability to expand the business in overseas markets
Changes in laws and regulations relating to business activities and the resulting uncertainty
Potential legal liability
Exchange rate
Deterioration in the global economy
Deterioration in global financial conditions
Weakness in domestic and overseas equity markets
New risks and uncertainties
Reason for revision or withdrawal
Growth stagnated and profitability has recently declined significantly. Portfolio transformation is necessary to enable a rapid response and rebuild the earnings base.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Sales Target | 2,400 (FY2026 forecast) → 2,600 (FY2028 plan)（+8.3%） |
| Operating profit target | 95 (FY2026 forecast) → 180 (FY2028 plan)（+89.5%） |
| ROE target | 5.1% (FY2025 actual) → 8% (FY2028 plan), 10% (FY2030 management target) |
| Payout ratio / DOE policy | Maintain a dividend payout ratio of at least 30%. Total dividends of approximately ¥12 billion are expected over the medium-term plan period (FY2026-FY2028). |
| Total investment plan | Approximately ¥103 billion in total (approximately ¥40 billion in growth investments plus approximately ¥63 billion in capital expenditures, over the three years from FY2026 to FY2028) |
| Investment amount by sector | Field Growth investments (including M&A) / Amount Approximately ¥40 billion, Field Capital Expenditures / Amount Approximately ¥63 billion |
| Segment target | Segment name Mobile equipment market / Sales Target ¥60 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Automotive Market / Sales Target ¥123 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Industrial machinery and infrastructure market / Sales Target ¥40 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Aerospace market / Sales Target ¥13 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Connector Business / Sales Target ¥233 billion (FY2028 plan) / Profit Target Not disclosed, Segment name Aviation equipment business / Sales Target ¥27 billion (FY2028 plan) / Profit Target Defense operating margin of at least 10% |
| Non-financial targets | Indicator name Defense production capacity / Target value Double / Timing Not disclosed |
| Key initiatives | Portfolio transformation, Strengthening the Business Platform, Accelerate resource shifts and pursue an optimal market balance, Improve management efficiency and strengthen growth capabilities, Global expansion strategy, Synergies from collaboration with Kyocera, Strengthen the IT infrastructure, Promoting Sustainability Management |
| Results under the previous plan | Not disclosed → Net sales of ¥227.9 billion, operating profit of ¥8.9 billion and ROE of 5.1% (FY2025 actual) |
| Reason for revision or withdrawal | Growth stagnated and profitability has recently declined significantly. Portfolio transformation is necessary to enable a rapid response and rebuild the earnings base. |
| Risks identified | Political and economic conditions in Japan, the US, Europe, Asia and elsewhere, Demand fluctuations for JAE products, including software products, in the market, Downward pressure on prices resulting from intensifying competition, The ability to continue supplying products while competing successfully against competitors, The ability to expand the business in overseas markets, Changes in laws and regulations relating to business activities and the resulting uncertainty, Potential legal liability, Exchange rate, Deterioration in the global economy, Deterioration in global financial conditions, Weakness in domestic and overseas equity markets, New risks and uncertainties |
| Publication date | 24 April 2026 |
Items this document does not state (9)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalSelf-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.Growth stagnated during the previous medium-term management plan period, and profitability has recently declined significantly. The Company recognizes the need for portfolio transformation to enable a rapid response and rebuild its earnings base.
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.