Worth reading
66In 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
320
¥100 million (2030 fiscal-year consolidated operating profit target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet SalesNot disclosed → ¥3,200 100 million
Operating profitNot disclosed → ¥320 100 million
Operating profit marginNot disclosed → 10 or more
ROENot disclosed → 10 or more
ROICNot disclosed → 15 or higher (pre-tax)
Only the target level is shown because the current level for comparison was not provided.Total investment planCapital expenditure of ¥80 billion (five-year cumulative total, including factory building construction). The financial strategy diagram shows capital expenditure of approximately ¥83 billion and research and development investment of approximately ¥50 billion.
Investment amount by sectorField Capital Expenditure / Amount ¥80.0 billion / Subject Five-year cumulative total / Notes Including factory building construction, Field Capital Expenditure / Amount Approximately ¥83 billion / Notes Cash outlay plan in the financial strategy diagram, Field Research and development investment / Amount Approximately ¥50 billion, Field Strategic investments, M&A, and other investments / Amount Approximately ¥38 billion / Notes Liquidity
Statements about the use of capital
Payout ratio / DOE policyShareholder returns, including progressive dividends, will total approximately ¥24 billion. Numerical targets for the payout ratio and DOE are Not disclosed. The applicable period is the plan period.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 policyShareholder returns of approximately ¥24 billion include share buybacks. The specific buyback allocation, timing, and terms are Not disclosed.
Key initiatives
01Deepening core businesses
02Expansion of the energy and environmental businesses
03Strengthening Global Competitiveness
04Advancing Sustainability Management
05Improving engagement
06Promotion of DX
07Strengthening global manufacturing, sales, and technology, and coordinating the supply chain
08Focused capital investment and establishment of a sustainable production system
09SEEDs/NEEDs development
10Addressing higher power and higher voltage requirements
11Development of products with smaller size, higher capacity, higher ripple capability, and lower ESR
12Addressing electrification, autonomous driving, and software-defined vehicles
13Product lineup
14Environmental Value Services
15Demand response business
16Niche-leading products
17New Businesses
18Demand expanding
19Company-wide project NX (Nichicon Transformation)
20Advanced supply chain management
21Core System Upgrade
22Smart Factory
23Digital transformation of factory operations
24Promoting AI adoption
25Enhanced security
Plan assumptionsSocial pressure to decarbonize, Rapid adoption of AI, The number of AI server racks will increase by at least fourfold from fiscal 2025 to fiscal 2030, Demand for AI servers is being driven by the need for higher power and greater efficiency, The number of energy storage systems will increase by at least 1.4 times from fiscal 2025 to fiscal 2030, Tailwinds from government policy, demand for a decarbonized society, rising energy costs, and disaster resilience
Segment targetSegment Capacitor Business / Net Sales FY2025 ¥102.7 billion / FY2030 ¥190.0 billion / Operating profit margin FY2025 4.5% / FY2030 10.0%, Segment NECST Business / Net Sales FY2025 ¥66.9 billion / FY2030 ¥130 billion / Operating profit margin FY2025 2.8% / FY2030 10.0%, Segment Our sales to the AI server market / Target At least 15 times fiscal 2025 / Target fiscal year FY2030, Segment Our sales to the energy storage system market / Target At least twice the FY2025 level / Target fiscal year FY2030
Non-financial targetsIndicator GHG emissions (Scope 1 and 2) / Target 46% reduction from fiscal 2021 / Timing FY2030, Indicator Employee engagement index (share of affirmative responses) / Target At least 75% / Timing FY2030 / Most recent results 68% in fiscal 2025, Indicator Percentage of personnel promoting digital transformation / Target 30% / Timing FY2030, Indicator Average NIST CSF score / Target An increase of at least 1 point from the 2025 level / Timing FY2030
Size of the Target MarketThe number of AI server racks will increase by at least fourfold from fiscal 2025 to fiscal 2030, and the number of energy storage systems will increase by at least 1.4 times over the same period. Both figures are based on our own research. The market size by value is Not disclosed.
Risks identified by the company
Future earnings forecasts and business environment projections contain uncertain factors
Potential risks that could overturn future forecasts and projections may materialize
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan Vision 2030 |
| Plan period | Fiscal 2026 to fiscal 2030 (five-year plan through fiscal 2030, the fiscal year ending March 2031) |
| Progress against the plan | Formulated |
| Sales Target | Not disclosed → ¥3,200 100 million |
| Operating profit target | Not disclosed → ¥320 100 million |
| Operating profit margin target | Not disclosed → 10 or more |
| ROE target | Not disclosed → 10 or more |
| ROIC target | Not disclosed → 15 or higher (pre-tax) |
| Payout ratio / DOE policy | Shareholder returns, including progressive dividends, will total approximately ¥24 billion. Numerical targets for the payout ratio and DOE are Not disclosed. The applicable period is the plan period. |
| Treasury share acquisition policy | Shareholder returns of approximately ¥24 billion include share buybacks. The specific buyback allocation, timing, and terms are Not disclosed. |
| Total investment plan | Capital expenditure of ¥80 billion (five-year cumulative total, including factory building construction). The financial strategy diagram shows capital expenditure of approximately ¥83 billion and research and development investment of approximately ¥50 billion. |
| Investment amount by sector | Field Capital Expenditure / Amount ¥80.0 billion / Subject Five-year cumulative total / Notes Including factory building construction, Field Capital Expenditure / Amount Approximately ¥83 billion / Notes Cash outlay plan in the financial strategy diagram, Field Research and development investment / Amount Approximately ¥50 billion, Field Strategic investments, M&A, and other investments / Amount Approximately ¥38 billion / Notes Liquidity |
| Segment target | Segment Capacitor Business / Net Sales FY2025 ¥102.7 billion / FY2030 ¥190.0 billion / Operating profit margin FY2025 4.5% / FY2030 10.0%, Segment NECST Business / Net Sales FY2025 ¥66.9 billion / FY2030 ¥130 billion / Operating profit margin FY2025 2.8% / FY2030 10.0%, Segment Our sales to the AI server market / Target At least 15 times fiscal 2025 / Target fiscal year FY2030, Segment Our sales to the energy storage system market / Target At least twice the FY2025 level / Target fiscal year FY2030 |
| Non-financial targets | Indicator GHG emissions (Scope 1 and 2) / Target 46% reduction from fiscal 2021 / Timing FY2030, Indicator Employee engagement index (share of affirmative responses) / Target At least 75% / Timing FY2030 / Most recent results 68% in fiscal 2025, Indicator Percentage of personnel promoting digital transformation / Target 30% / Timing FY2030, Indicator Average NIST CSF score / Target An increase of at least 1 point from the 2025 level / Timing FY2030 |
| Plan assumptions | Social pressure to decarbonize, Rapid adoption of AI, The number of AI server racks will increase by at least fourfold from fiscal 2025 to fiscal 2030, Demand for AI servers is being driven by the need for higher power and greater efficiency, The number of energy storage systems will increase by at least 1.4 times from fiscal 2025 to fiscal 2030, Tailwinds from government policy, demand for a decarbonized society, rising energy costs, and disaster resilience |
| Key initiatives | Deepening core businesses, Expansion of the energy and environmental businesses, Strengthening Global Competitiveness, Advancing Sustainability Management, Improving engagement, Promotion of DX, Strengthening global manufacturing, sales, and technology, and coordinating the supply chain, Focused capital investment and establishment of a sustainable production system, SEEDs/NEEDs development, Addressing higher power and higher voltage requirements, Development of products with smaller size, higher capacity, higher ripple capability, and lower ESR, Addressing electrification, autonomous driving, and software-defined vehicles, Product lineup, Environmental Value Services, Demand response business, Niche-leading products, New Businesses, Demand expanding, Company-wide project NX (Nichicon Transformation), Advanced supply chain management, Core System Upgrade, Smart Factory, Digital transformation of factory operations, Promoting AI adoption, Enhanced security |
| Size of the Target Market | The number of AI server racks will increase by at least fourfold from fiscal 2025 to fiscal 2030, and the number of energy storage systems will increase by at least 1.4 times over the same period. Both figures are based on our own research. The market size by value is Not disclosed. |
| Risks identified | Future earnings forecasts and business environment projections contain uncertain factors, Potential risks that could overturn future forecasts and projections may materialize |
| Publication date | 13 November 2026 |
Items this document does not state (6)
Net income targetCost of capitalSelf-assessment of PBR and share priceResults under the previous planReason for revision or withdrawalDate 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.Investment driven by social pressure to decarbonize and the rapid adoption of AI is creating new growth opportunities at the intersection of energy and electronics. Through dual-engine management spanning existing and new businesses, together with the evolution of our business portfolio, we aim to achieve sustainable growth, improve capital efficiency, and enhance corporate value.
How to read this page
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