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
28
¥100 million (increase in revenue from FY2025 actual results)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.2%
基準 2,025Target2,030100 million
Operating profit+0.2%
基準 2,025Target2,030100 million
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. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Operating profit marginNot disclosed → FY2030 plan: 12%
ROEMost recent actual figure: not disclosed → FY2030: at least 13%
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planFinal-year target under the previous medium-term management plan: revenue of ¥15.0 billion and operating income of ¥800 million → FY2025 actual results: revenue of ¥8,998 million and an operating loss of ¥855 million+1,024.8%Calculated from the two disclosed figures
Investment amount by sectorField CAPEX/growth investment / Amount Approximately 20% of companies / Details New product development, including tooling investment
Statements about the use of capital
Payout ratio / DOE policyA total payout ratio of approximately 75%-100% over the entire period covered by the New Medium-Term Management Plan 2026-2030. The Company will implement progressive dividends based on the payout ratio and DOE.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 policyFrom FY2026 through FY2030, the Company will combine progressive dividends with flexible share buybacks. Shareholder returns are expected to total ¥1.2 billion-¥2.0 billion, with a total payout ratio of 75%-100%.
Self-assessment of PBR and share priceThe Company targets a PBR of at least 1x in FY2028 and FY2030 and has verified the likelihood of achieving a PBR of at least 1x through the achievement of its ROE target.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Redesign of the business portfolio
02Conversion of fixed costs into variable costs
03Strengthening the FPSC -80°C finished-product business
04Revenue growth from developing new sales channels
05Inventory Optimization
06Strengthening the D2C (direct-to-consumer) business
Segment targetSegment FPSC Business / Target Increase gross profit by ¥480 million from FY2025, Segment D2C Business / Target Increase gross profit by ¥570 million from FY2025, Segment Hospital refrigerators / Target Increase revenue from ¥300 million in FY2025 to ¥450 million in FY2028 and ¥550 million in FY2030, Segment Hotel refrigerators and related products / Target Increase revenue from ¥100 million in FY2025 to ¥350 million in FY2028 and ¥600 million in FY2030, Segment Corporate customers in the rental and leasing markets / Target Increase revenue from ¥200 million in FY2025 to ¥550 million in FY2028 and ¥700 million in FY2030
Non-financial targetsIndicator D2C members / FY2025 47,000 / Fiscal 2026 55,000 / FY2028 78,000 / FY2030 122,000, Indicator D2C purchasers / FY2025 12,000 / Fiscal 2026 13,000 / FY2028 38,000 / FY2030 70,000, Indicator D2C orders / FY2025 13,000 / Fiscal 2026 13,000 / FY2028 41,000 / FY2030 74,000, Indicator Average D2C transaction value / FY2025 ¥6,000 / Fiscal 2026 ¥6,000 / FY2028 ¥8,000 / FY2030 ¥9,000, Indicator Additional D2C SKUs / Target Add 100-150 SKUs over five years, Indicator Hotel product sales volume / FY2028 15,000 units/year
Risks identified by the company
Rapid changes in the white goods market
Intensifying competition in the domestic home-appliance retail market across industry boundaries
Entry by companies from other industries
Aggressive expansion by major Chinese home-appliance manufacturers
Reason for revision or withdrawal
Due to rapid changes in the white goods market, the Company decided to scale back its consumer refrigerator and washing machine businesses, for which profitability was no longer in sight, and implemented fundamental earnings-structure reforms aimed at shifting to more profitable products and sales channels. Having confirmed the results of these reforms, the Company sought to set out a clearer path toward sustainable growth and enhanced corporate value.
| Item | Details |
|---|---|
| Plan name | New Medium-Term Management Plan 2026-2030 |
| Plan period | Five years from FY2026 through FY2030 |
| Progress against the plan | Formulated |
| Sales Target | FY2025 actual results: ¥8.9 billion → FY2030 plan: ¥11.7 billion |
| Operating profit target | FY2025 actual results: operating loss of ¥900 million → FY2030 plan: ¥1.4 billion |
| Operating profit margin target | Not disclosed → FY2030 plan: 12% |
| ROE target | Most recent actual figure: not disclosed → FY2030: at least 13% |
| Payout ratio / DOE policy | A total payout ratio of approximately 75%-100% over the entire period covered by the New Medium-Term Management Plan 2026-2030. The Company will implement progressive dividends based on the payout ratio and DOE. |
| Treasury share acquisition policy | From FY2026 through FY2030, the Company will combine progressive dividends with flexible share buybacks. Shareholder returns are expected to total ¥1.2 billion-¥2.0 billion, with a total payout ratio of 75%-100%. |
| Self-assessment of PBR and share price | The Company targets a PBR of at least 1x in FY2028 and FY2030 and has verified the likelihood of achieving a PBR of at least 1x through the achievement of its ROE target. |
| Investment amount by sector | Field CAPEX/growth investment / Amount Approximately 20% of companies / Details New product development, including tooling investment |
| Segment target | Segment FPSC Business / Target Increase gross profit by ¥480 million from FY2025, Segment D2C Business / Target Increase gross profit by ¥570 million from FY2025, Segment Hospital refrigerators / Target Increase revenue from ¥300 million in FY2025 to ¥450 million in FY2028 and ¥550 million in FY2030, Segment Hotel refrigerators and related products / Target Increase revenue from ¥100 million in FY2025 to ¥350 million in FY2028 and ¥600 million in FY2030, Segment Corporate customers in the rental and leasing markets / Target Increase revenue from ¥200 million in FY2025 to ¥550 million in FY2028 and ¥700 million in FY2030 |
| Non-financial targets | Indicator D2C members / FY2025 47,000 / Fiscal 2026 55,000 / FY2028 78,000 / FY2030 122,000, Indicator D2C purchasers / FY2025 12,000 / Fiscal 2026 13,000 / FY2028 38,000 / FY2030 70,000, Indicator D2C orders / FY2025 13,000 / Fiscal 2026 13,000 / FY2028 41,000 / FY2030 74,000, Indicator Average D2C transaction value / FY2025 ¥6,000 / Fiscal 2026 ¥6,000 / FY2028 ¥8,000 / FY2030 ¥9,000, Indicator Additional D2C SKUs / Target Add 100-150 SKUs over five years, Indicator Hotel product sales volume / FY2028 15,000 units/year |
| Key initiatives | Redesign of the business portfolio, Conversion of fixed costs into variable costs, Strengthening the FPSC -80°C finished-product business, Revenue growth from developing new sales channels, Inventory Optimization, Strengthening the D2C (direct-to-consumer) business |
| Results under the previous plan | Final-year target under the previous medium-term management plan: revenue of ¥15.0 billion and operating income of ¥800 million → FY2025 actual results: revenue of ¥8,998 million and an operating loss of ¥855 million |
| Reason for revision or withdrawal | Due to rapid changes in the white goods market, the Company decided to scale back its consumer refrigerator and washing machine businesses, for which profitability was no longer in sight, and implemented fundamental earnings-structure reforms aimed at shifting to more profitable products and sales channels. Having confirmed the results of these reforms, the Company sought to set out a clearer path toward sustainable growth and enhanced corporate value. |
| Risks identified | Rapid changes in the white goods market, Intensifying competition in the domestic home-appliance retail market across industry boundaries, Entry by companies from other industries, Aggressive expansion by major Chinese home-appliance manufacturers |
| Publication date | 31 August 2026 |
Items this document does not state (7)
Net income targetROIC targetCost of capitalTotal investment planPlan 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.While the Company achieved a certain level of success in developing B2B sales channels and in its FPSC business in FY2025, the outlook for profitability in its consumer refrigerator and washing machine businesses became uncertain due to rapid changes in the white goods market. The Company therefore proceeded with a shift toward more profitable products and sales channels. Having confirmed the results of these initiatives, it consolidated them into a new medium-term management plan to clearly set out a path toward sustainable growth and enhanced corporate value.
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.