Worth reading
70In 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
280
¥100 million (net sales target for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,026Target2,029100 million
Operating profit+0.1%
基準 2,026Target2,029100 million
Operating profit margin+3.0pt
基準 2,026Target2,029%
ROE+3.0pt
基準 2,026Target2,029%
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 planNet sales of ¥30.0 billion and operating income of ¥1.6 billion → Net sales of ¥24.6 billion and operating income of ¥820 million (actual results for the fiscal year ending March 2026)（Net sales: 82%; operating income: 52% (achievement rates)）+6,653.3%Calculated from the two disclosed figures
Total investment plan¥3.5 billion (cumulative total for the fiscal years ending March 2027 through March 2029)
Investment amount by sectorField Structural reform investment / Amount ¥500 million, Field Investment to strengthen the operating base / Amount ¥2 billion, Field Growth Investment / Amount ¥1 billion
Statements about the use of capital
Payout ratio / DOE policyA payout ratio of approximately 30% is targeted. The company will provide stable and consistent shareholder returns during the period of the Medium-Term Management Plan, from the fiscal year ending March 2027 through the fiscal year ending March 2029. DOE: not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthen the business foundation and implement structural reforms
02Pursue opportunities in fields that will support future growth
03Strengthen the framework supporting sustainable growth
04Promote DX and ESG management (environmental initiatives, stronger human resources development, and stronger governance and compliance)
05Maximize profits through leading market share
06Establish the brand by developing specific markets and applications
07Rebuild the earnings base through structural reforms
08Expand growth businesses through technological development
Plan assumptionsExchange rate: US$1 = ¥150
Segment targetSegment Single-sided boards / Sales target ¥11.0 billion (Japan: ¥4.0 billion; overseas: ¥7.0 billion) / Profit Target ¥1 billion, Segment Metal Substrates / Sales target ¥4.0 billion (Japan: ¥1.2 billion; overseas: ¥2.8 billion) / Profit Target ¥500 million, Segment Double-sided boards / Sales target ¥9.5 billion (Japan: ¥3.0 billion; overseas: ¥6.5 billion) / Profit Target ¥200 million, Segment Assembly-related / Sales target Japan: ¥3.0 billion (jigs: ¥1.2 billion; assembly: ¥1.8 billion) / Profit Target ¥300 million
Non-financial targetsIndicator Productivity per employee / Target 15% increase from the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Indicator CO2 emissions (group, Scope 1 and 2) / Target 3% reduction annually / Timing Fiscal year ending March 2029, Indicator Employment rate of people with disabilities / Target At least 3.0% / Timing Fiscal year ending March 2029, Indicator Percentage of women in supervisory positions / Target 15.0％ / Timing Fiscal year ending March 2029, Indicator Health and Productivity Management Organization recognition activities / Target Obtain recognition / Timing Fiscal year ending March 2029, Indicator Eruboshi Certification / Target Maintain three-star certification / Timing Fiscal year ending March 2029, Indicator Serious violations / Target ゼロ / Timing Fiscal year ending March 2029, Indicator BCP management framework / Target Continuous improvement through the PDCA cycle / Timing Fiscal year ending March 2029
Risks identified by the company
U.S. tariff policies
Slowdown in China's economy
Sharp foreign exchange fluctuations
Geopolitical risk
Persistently High Raw Material and Energy Prices
Weakness in the automotive market
Intensifying price competition in Japan and overseas
Rising raw material and other costs, and delays in passing them on through prices
Economic Trends
Market Demand
Exchange rate
Risks and uncertainties related to tax systems and other regulations and systems
Identification and response to business risks
Reason for revision or withdrawal
In response to major changes in the business environment and following a review of the previous medium-term management plan, the company aims to establish a business foundation for further growth by strengthening earnings capabilities and pursuing new fields.
| Item | Details |
|---|---|
| Plan name | Long-Term Vision 2036 / Medium-Term Management Plan 2029 |
| Plan period | Long term: fiscal year ending March 2036 (10 years from now); medium term: fiscal years ending March 2027 to March 2029 (three years from April 2026) |
| Progress against the plan | Formulated |
| Sales Target | ¥24.6 billion (actual results for the fiscal year ending March 2026) → ¥28.0 billion (target for the fiscal year ending March 2029)（＋13.8%） |
| Operating profit target | ¥820 million (actual for the fiscal year ended March 2026) → ¥2.0 billion (target for the fiscal year ending March 2029)（＋143.9%） |
| Operating profit margin target | 3.4% (actual results for the fiscal year ending March 2026) → 7% (target for the fiscal year ending March 2029)（＋105.9%） |
| ROE target | 0.8% (actual results for the fiscal year ending March 2026) → 10% (target for the fiscal year ending March 2029)（＋1,150%） |
| Payout ratio / DOE policy | A payout ratio of approximately 30% is targeted. The company will provide stable and consistent shareholder returns during the period of the Medium-Term Management Plan, from the fiscal year ending March 2027 through the fiscal year ending March 2029. DOE: not disclosed. |
| Total investment plan | ¥3.5 billion (cumulative total for the fiscal years ending March 2027 through March 2029) |
| Investment amount by sector | Field Structural reform investment / Amount ¥500 million, Field Investment to strengthen the operating base / Amount ¥2 billion, Field Growth Investment / Amount ¥1 billion |
| Segment target | Segment Single-sided boards / Sales target ¥11.0 billion (Japan: ¥4.0 billion; overseas: ¥7.0 billion) / Profit Target ¥1 billion, Segment Metal Substrates / Sales target ¥4.0 billion (Japan: ¥1.2 billion; overseas: ¥2.8 billion) / Profit Target ¥500 million, Segment Double-sided boards / Sales target ¥9.5 billion (Japan: ¥3.0 billion; overseas: ¥6.5 billion) / Profit Target ¥200 million, Segment Assembly-related / Sales target Japan: ¥3.0 billion (jigs: ¥1.2 billion; assembly: ¥1.8 billion) / Profit Target ¥300 million |
| Non-financial targets | Indicator Productivity per employee / Target 15% increase from the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Indicator CO2 emissions (group, Scope 1 and 2) / Target 3% reduction annually / Timing Fiscal year ending March 2029, Indicator Employment rate of people with disabilities / Target At least 3.0% / Timing Fiscal year ending March 2029, Indicator Percentage of women in supervisory positions / Target 15.0％ / Timing Fiscal year ending March 2029, Indicator Health and Productivity Management Organization recognition activities / Target Obtain recognition / Timing Fiscal year ending March 2029, Indicator Eruboshi Certification / Target Maintain three-star certification / Timing Fiscal year ending March 2029, Indicator Serious violations / Target ゼロ / Timing Fiscal year ending March 2029, Indicator BCP management framework / Target Continuous improvement through the PDCA cycle / Timing Fiscal year ending March 2029 |
| Plan assumptions | Exchange rate: US$1 = ¥150 |
| Key initiatives | Strengthen the business foundation and implement structural reforms, Pursue opportunities in fields that will support future growth, Strengthen the framework supporting sustainable growth, Promote DX and ESG management (environmental initiatives, stronger human resources development, and stronger governance and compliance), Maximize profits through leading market share, Establish the brand by developing specific markets and applications, Rebuild the earnings base through structural reforms, Expand growth businesses through technological development |
| Results under the previous plan | Net sales of ¥30.0 billion and operating income of ¥1.6 billion → Net sales of ¥24.6 billion and operating income of ¥820 million (actual results for the fiscal year ending March 2026)（Net sales: 82%; operating income: 52% (achievement rates)） |
| Reason for revision or withdrawal | In response to major changes in the business environment and following a review of the previous medium-term management plan, the company aims to establish a business foundation for further growth by strengthening earnings capabilities and pursuing new fields. |
| Risks identified | U.S. tariff policies, Slowdown in China's economy, Sharp foreign exchange fluctuations, Geopolitical risk, Persistently High Raw Material and Energy Prices, Weakness in the automotive market, Intensifying price competition in Japan and overseas, Rising raw material and other costs, and delays in passing them on through prices, Economic Trends, Market Demand, Exchange rate, Risks and uncertainties related to tax systems and other regulations and systems, Identification and response to business risks |
| Publication date | 22 May 2026 |
Items this document does not state (7)
Net income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSize 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.The plans were formulated in response to major changes in the business environment and following a review of the previous medium-term management plan. Factors behind the shortfall under the previous plan included U.S. tariff policy, the economic slowdown in China, sharp foreign-exchange fluctuations, geopolitical risks, persistently high raw material and energy prices, weakness in the automotive market, intensifying price competition, and delays in passing on higher costs. Growth opportunities identified include demand for heat dissipation from power semiconductors and AI servers, expanding domestic demand in India, and growth in Europe's metal substrate market.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.