Worth reading
52Recurring
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
7
¥100 million or more (2028 operating profit target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+2.9pt
基準 2.1Target5%
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).
Operating profitNot disclosed → ¥7 100 million or more
Only the target level is shown because the current level for comparison was not provided.Total investment plan¥6.6 billion (comprising ¥4.2 billion in capital expenditures, ¥1.5 billion in R&D investment and ¥900 million in human capital investment)
Investment amount by sectorField Capital Expenditure / Amount ¥4,200 million, Field R&D investment / Amount ¥1,500 million, Field Human Capital Investment / Amount ¥900 million
Statements about the use of capital
Payout ratio / DOE policyThe payout ratio will be approximately 40%, and the minimum annual dividend per share will be set at ¥60. The covered period is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalThe company’s estimated cost of equity is 5% to 7%. The cost of equity from investors’ perspective is 7% to 10%.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe share price rose in 2026, while the PBR has remained around 0.7x, in the 0.7x range. The company recognizes that its market capitalization is relatively low among companies listed on the Tokyo Stock Exchange.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Pursuit of a circular business model
02Advancement of the value creation process
03Optimizing the Business Portfolio
04Promoting Human Capital Management
05Strengthening vision management
06DX Strategy
07Alliance Strategy
08Financial and capital strategy
Plan assumptionsAn increasingly challenging business environment due to difficulties in procuring raw materials, soaring prices, rising labor costs and other factors. Numerical assumptions for exchange rates, market growth rates and other factors are Not disclosed.
Non-financial targetsIndicator Engagement score (vs. FY2025) / Target ＋6% / Timing 2028, Indicator Value added per unit of scarce resource use (vs. FY2025) / Target ＋10% / Timing 2028
Risks identified by the company
Difficulties in procuring raw materials and soaring prices
Rising labor costs
Internal factors at the company and external factors, including changes in the business environment surrounding the company
The outlook is not a guarantee of achievement, and the outlook may change
| Item | Details |
|---|---|
| Plan name | 日本タングステングループ2028 Medium-Term Management Plan |
| Plan period | Fiscal years 2026 to 2028 (3 years) |
| Progress against the plan | Formulated |
| Operating profit target | Not disclosed → ¥7 100 million or more |
| ROE target | 2.1 % → 5 % |
| Payout ratio / DOE policy | The payout ratio will be approximately 40%, and the minimum annual dividend per share will be set at ¥60. The covered period is Not disclosed. |
| Cost of capital | The company’s estimated cost of equity is 5% to 7%. The cost of equity from investors’ perspective is 7% to 10%. |
| Self-assessment of PBR and share price | The share price rose in 2026, while the PBR has remained around 0.7x, in the 0.7x range. The company recognizes that its market capitalization is relatively low among companies listed on the Tokyo Stock Exchange. |
| Total investment plan | ¥6.6 billion (comprising ¥4.2 billion in capital expenditures, ¥1.5 billion in R&D investment and ¥900 million in human capital investment) |
| Investment amount by sector | Field Capital Expenditure / Amount ¥4,200 million, Field R&D investment / Amount ¥1,500 million, Field Human Capital Investment / Amount ¥900 million |
| Non-financial targets | Indicator Engagement score (vs. FY2025) / Target ＋6% / Timing 2028, Indicator Value added per unit of scarce resource use (vs. FY2025) / Target ＋10% / Timing 2028 |
| Plan assumptions | An increasingly challenging business environment due to difficulties in procuring raw materials, soaring prices, rising labor costs and other factors. Numerical assumptions for exchange rates, market growth rates and other factors are Not disclosed. |
| Key initiatives | Pursuit of a circular business model, Advancement of the value creation process, Optimizing the Business Portfolio, Promoting Human Capital Management, Strengthening vision management, DX Strategy, Alliance Strategy, Financial and capital strategy |
| Risks identified | Difficulties in procuring raw materials and soaring prices, Rising labor costs, Internal factors at the company and external factors, including changes in the business environment surrounding the company, The outlook is not a guarantee of achievement, and the outlook may change |
| Date of board resolution | 26 June 2026 |
| Publication date | 26 June 2026 |
Items this document does not state (9)
Sales TargetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policySegment targetResults under the previous planReason for revision or withdrawalSize 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.Against an increasingly challenging business environment due to difficulties in procuring raw materials, soaring prices, rising labor costs and other factors, the company will regard these “constraints” as “opportunities” for corporate transformation, with the aim of increasing corporate value and achieving sustainable growth.
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.