Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
8
¥trillion (2030 revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE-2,014.0pt
基準 2,025Target11％
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).
Net SalesNot disclosed → At least ¥8 trillion
Operating profit marginNot disclosed → At least 10%
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planInitially set target levels for the operating margin and ROE under the 2025 Medium-Term Policy (figures not disclosed) → Actual operating margin and ROE (figures not disclosed)
Total investment planAt least ¥8 trillion (total investment and shareholder returns from fiscal 2026 through fiscal 2030)
Investment amount by sectorField Research and development costs / Amount ¥3.7 trillion / Period The five years through 2030
Statements about the use of capital
Payout ratio / DOE policyDOE of at least 4.0%. This is a target for 2030, with the plan period running from fiscal 2026 through fiscal 2030. Total investment and shareholder returns over the same period will be at least ¥8 trillion.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthening product development
02Innovation in manufacturing
03Developing people and co-creating with partners
Plan assumptionsThe plan assumes that mobility will diversify in line with the characteristics of each country and region, including energy conditions, policy and industry trends, and how people live, amid changes in the external environment. Numerical assumptions for foreign exchange rates, market growth rates, and raw material prices are not disclosed.
Segment targetSegment Electrification and intelligence / Sales target Approximately ¥4 trillion / Timing 2030, Segment Electrification / Sales target ¥1.9 trillion / Timing 2030, Segment ADAS (intelligence) / Sales target ¥1.0 trillion / Timing 2030, Segment Agricultural sector / Sales target ¥100 billion / Timing 2030, Segment Factory automation sector / Sales target Approximately ¥300 billion / Timing 2030
Non-financial targetsIndicator Scope 1 and 2 CO2 emissions / Target Carbon neutrality with carbon credits / Timing 2030, Indicator Scope 3 CO2 emissions / Target 25% reduction from 2020 / Timing 2030, Indicator Scope 1 and 2 CO2 emissions / Target Carbon neutrality without carbon credits / Timing 2035, Indicator Accident-scene coverage rate / Target 80％ / Timing 2030, Indicator Agricultural productivity / Target 75% improvement / Timing 2030, Indicator Contribution to improving labor productivity in industry / Target Contribute to eliminating a labor shortage equivalent to 19,000 people / Timing 2030
Risks identified by the company
Actual results and strategies may differ from the forecasts or assumptions described due to the impact of uncertain factors in the future
Reason for revision or withdrawal
The operating margin and ROE did not reach the initially set target levels due to quality-related costs and increased resource allocation aimed at future growth, leaving challenges in strengthening the earnings base. In addition, as changes surrounding mobility accelerate, including advances in advanced safety, autonomous driving, and software-defined vehicles (SDVs), the areas requiring reinforcement for the next phase of growth have become clearer.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan “CORE 2030” |
| Plan period | Fiscal 2026 through fiscal 2030 |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → At least ¥8 trillion |
| Operating profit margin target | Not disclosed → At least 10% |
| ROE target | Initially set target level under the 2025 Medium-Term Policy (figure not disclosed) → At least 11% |
| Payout ratio / DOE policy | DOE of at least 4.0%. This is a target for 2030, with the plan period running from fiscal 2026 through fiscal 2030. Total investment and shareholder returns over the same period will be at least ¥8 trillion. |
| Total investment plan | At least ¥8 trillion (total investment and shareholder returns from fiscal 2026 through fiscal 2030) |
| Investment amount by sector | Field Research and development costs / Amount ¥3.7 trillion / Period The five years through 2030 |
| Segment target | Segment Electrification and intelligence / Sales target Approximately ¥4 trillion / Timing 2030, Segment Electrification / Sales target ¥1.9 trillion / Timing 2030, Segment ADAS (intelligence) / Sales target ¥1.0 trillion / Timing 2030, Segment Agricultural sector / Sales target ¥100 billion / Timing 2030, Segment Factory automation sector / Sales target Approximately ¥300 billion / Timing 2030 |
| Non-financial targets | Indicator Scope 1 and 2 CO2 emissions / Target Carbon neutrality with carbon credits / Timing 2030, Indicator Scope 3 CO2 emissions / Target 25% reduction from 2020 / Timing 2030, Indicator Scope 1 and 2 CO2 emissions / Target Carbon neutrality without carbon credits / Timing 2035, Indicator Accident-scene coverage rate / Target 80％ / Timing 2030, Indicator Agricultural productivity / Target 75% improvement / Timing 2030, Indicator Contribution to improving labor productivity in industry / Target Contribute to eliminating a labor shortage equivalent to 19,000 people / Timing 2030 |
| Plan assumptions | The plan assumes that mobility will diversify in line with the characteristics of each country and region, including energy conditions, policy and industry trends, and how people live, amid changes in the external environment. Numerical assumptions for foreign exchange rates, market growth rates, and raw material prices are not disclosed. |
| Key initiatives | Strengthening product development, Innovation in manufacturing, Developing people and co-creating with partners |
| Results under the previous plan | Initially set target levels for the operating margin and ROE under the 2025 Medium-Term Policy (figures not disclosed) → Actual operating margin and ROE (figures not disclosed) |
| Reason for revision or withdrawal | The operating margin and ROE did not reach the initially set target levels due to quality-related costs and increased resource allocation aimed at future growth, leaving challenges in strengthening the earnings base. In addition, as changes surrounding mobility accelerate, including advances in advanced safety, autonomous driving, and software-defined vehicles (SDVs), the areas requiring reinforcement for the next phase of growth have become clearer. |
| Risks identified | Actual results and strategies may differ from the forecasts or assumptions described due to the impact of uncertain factors in the future |
| Date of board resolution | 31 March 2026 |
| Publication date | 31 March 2026 |
Items this document does not state (7)
Operating profit targetNet income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSize 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.Although the operating margin and ROE fell short of the initially set target levels due to quality-related costs and increased resource allocation aimed at future growth, changes surrounding mobility have accelerated and the areas requiring reinforcement for the next phase of growth have become clear.
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