Worth reading
36Immaterial
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
150000
¥ millionWording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+6.7%
基準 140,616Target150,000million
Operating profit margin-1.6pt
基準 11.6Target10%
ROE-10.7pt
基準 20.7Target10%
ROIC-5.5pt
基準 15.5Target10%
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).
Statements about the use of capital
Payout ratio / DOE policyAchieve a total payout ratio equivalent to 40% on a stable basis in the fiscal year ending February 2029, the final year of the medium-term management planThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyConsider using share buybacks flexibly from the perspective of optimizing the balance between shareholder returns and growth investment, taking into account the Company's financial position and market conditions
Cost of capitalCost of shareholders' equity: approximately 10% (reference value calculated using CAPM)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 improved to 2.8x in the fiscal year ending February 2026. Although PER still has room for improvement, it recovered significantly from the previous fiscal year. In the fiscal year ending February 2026, the share price was ¥7,930, PBR was 2.8x, and PER was 15.0xPBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Securing profitability
02Further expansion of sales scale
03Strengthening sustainable management
Risks identified by the company
Market Conditions
Risk management, including BCP
Reason for revision or withdrawal
ROE substantially exceeded the cost of shareholders' equity as a result of initiatives to improve profitability, contributing to an improvement in PBR. PER also recovered significantly from the previous fiscal year, although it still has room for improvement.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Plan period | The 3 years from the fiscal year ending February 2027 through the fiscal year ending February 2029 |
| Progress against the plan | Annual update |
| Sales Target | ¥140,616 million → ¥150,000 million（+6.7%） |
| Operating profit margin target | 11.6 % → 10% or higher |
| ROE target | 20.7 % → 10% or higher |
| ROIC target | 15.5 % → 10% or higher |
| Payout ratio / DOE policy | Achieve a total payout ratio equivalent to 40% on a stable basis in the fiscal year ending February 2029, the final year of the medium-term management plan |
| Treasury share acquisition policy | Consider using share buybacks flexibly from the perspective of optimizing the balance between shareholder returns and growth investment, taking into account the Company's financial position and market conditions |
| Cost of capital | Cost of shareholders' equity: approximately 10% (reference value calculated using CAPM) |
| Self-assessment of PBR and share price | PBR improved to 2.8x in the fiscal year ending February 2026. Although PER still has room for improvement, it recovered significantly from the previous fiscal year. In the fiscal year ending February 2026, the share price was ¥7,930, PBR was 2.8x, and PER was 15.0x |
| Key initiatives | Securing profitability, Further expansion of sales scale, Strengthening sustainable management |
| Reason for revision or withdrawal | ROE substantially exceeded the cost of shareholders' equity as a result of initiatives to improve profitability, contributing to an improvement in PBR. PER also recovered significantly from the previous fiscal year, although it still has room for improvement. |
| Risks identified | Market Conditions, Risk management, including BCP |
| Date of board resolution | 9 April 2026 |
| Publication date | 9 April 2026 |
Items this document does not state (9)
Operating profit targetNet income targetTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize 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.ROE substantially exceeded the cost of shareholders' equity as a result of initiatives to improve profitability, contributing to an improvement in PBR. Although PER still has room for improvement, it recovered significantly from the previous fiscal year.
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.