Worth reading
34Immaterial
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
1.1
¥100 million (year-on-year change in the market capitalization of tradable shares)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateStatements about the use of capital
Payout ratio / DOE policyStable annual dividends of ¥25 to ¥30 have been paid in recent years.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe company recognizes that weak share prices are believed to have affected its failure to meet the market capitalization criterion for tradable shares.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01To increase the tradable share ratio, negotiate reductions in the Company's policy-held shares ranked among its top 10 holdings based on the loss of their strategic significance, sell policy-held shares, obtain consent to reclassify them as pure investment holdings, encourage insurance companies and business corporations to sell their holdings, and reduce shares held by officers.
02Focus on ramping up production in Thailand and expanding sales in the Indian market.
03In Japan, expand orders for electronic components for automotive-related and industrial equipment applications, centered on electronic equipment for semiconductor manufacturing equipment, while expanding sales in new fields including measuring instruments and equipment related to housing and daily life.
04In China, promote sales expansion of potentiometers for agricultural, construction and industrial equipment.
05In ASEAN, expand sales of resistors for building technology, industrial equipment and mobility applications.
06In Europe and the United States, expand sales of potentiometers and resistors for industrial equipment, construction equipment and mobility applications.
07Develop intelligent sensors (smart position sensors) and new compact, high-power resistors for industrial equipment.
Plan assumptionsElectronic equipment for semiconductor manufacturing equipment and energy-saving equipment are expected to remain promising and stable markets. Stable orders are expected for electronic components for automotive-related applications and industrial equipment. In the fiscal year ending December 2026, orders for electronic equipment for semiconductor manufacturing equipment are trending toward recovery, and the company expects to return to profitability through new orders for measuring instruments and equipment for daily-life applications.
Risks identified by the company
If compliance with the market capitalization criterion for tradable shares cannot be confirmed during the improvement period ending 31 December 2026, the Company may be designated as a Security Under Supervision (Confirmation).
If compliance is not confirmed in the subsequent review, the Company may be designated as a Security to Be Delisted and delisted on 1 July 2027.
| Item | Details |
|---|---|
| Plan name | Plan to Meet the Listing Maintenance Criteria |
| Plan period | End of December 2026 (improvement period) |
| Progress against the plan | Annual update |
| Payout ratio / DOE policy | Stable annual dividends of ¥25 to ¥30 have been paid in recent years. |
| Self-assessment of PBR and share price | The company recognizes that weak share prices are believed to have affected its failure to meet the market capitalization criterion for tradable shares. |
| Plan assumptions | Electronic equipment for semiconductor manufacturing equipment and energy-saving equipment are expected to remain promising and stable markets. Stable orders are expected for electronic components for automotive-related applications and industrial equipment. In the fiscal year ending December 2026, orders for electronic equipment for semiconductor manufacturing equipment are trending toward recovery, and the company expects to return to profitability through new orders for measuring instruments and equipment for daily-life applications. |
| Key initiatives | To increase the tradable share ratio, negotiate reductions in the Company's policy-held shares ranked among its top 10 holdings based on the loss of their strategic significance, sell policy-held shares, obtain consent to reclassify them as pure investment holdings, encourage insurance companies and business corporations to sell their holdings, and reduce shares held by officers., Focus on ramping up production in Thailand and expanding sales in the Indian market., In Japan, expand orders for electronic components for automotive-related and industrial equipment applications, centered on electronic equipment for semiconductor manufacturing equipment, while expanding sales in new fields including measuring instruments and equipment related to housing and daily life., In China, promote sales expansion of potentiometers for agricultural, construction and industrial equipment., In ASEAN, expand sales of resistors for building technology, industrial equipment and mobility applications., In Europe and the United States, expand sales of potentiometers and resistors for industrial equipment, construction equipment and mobility applications., Develop intelligent sensors (smart position sensors) and new compact, high-power resistors for industrial equipment. |
| Risks identified | If compliance with the market capitalization criterion for tradable shares cannot be confirmed during the improvement period ending 31 December 2026, the Company may be designated as a Security Under Supervision (Confirmation)., If compliance is not confirmed in the subsequent review, the Company may be designated as a Security to Be Delisted and delisted on 1 July 2027. |
| Publication date | 27 March 2026 |
Items this document does not state (16)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planReason for revision or withdrawalSize 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 tradable share ratio has gradually improved through negotiations to reduce policy-held shares among holdings whose strategic significance has been lost, sales of policy-held shares, obtaining consent to reclassify them as pure investment holdings, encouraging insurance companies and business corporations to sell their holdings, and reducing shares held by officers. The company explained that the failure of the market capitalization of tradable shares to meet the criterion is believed to have been affected by weak share prices.
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.