Worth reading
69In 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
4400
¥10 billion (FY2028 revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,025Target2,028million
Operating profit+0.1%
基準 2,025Target2,028million
Operating profit margin+3.0pt
基準 2,025Target2,028％
ROE+3.0pt
基準 2,025Target2,028％
ROIC+3.0pt
基準 2,025Target2,028％
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).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planFiscal 2025 plan under Rolling Vision 2025: revenue of ¥340 billion, operating margin of 7.0%, equity ratio of 39%, ROIC of 9%, ROE of 11% and dividend payout ratio of 15% → Fiscal 2025 actual: revenue of ¥353.2 billion, operating margin of 10.7%, equity ratio of 46.3%, ROIC of 16%, ROE of 19% and dividend payout ratio of 15%（Revenue: +3.9%. All other changes are stated as percentage-point differences.）0.0%Calculated from the two disclosed figures
Total investment planApproximately ¥70 billion (approximately ¥45 billion in business growth investments plus approximately ¥25 billion in business development investments, fiscal 2026 through fiscal 2028)
Investment amount by sectorField Business growth investments / Amount Approximately ¥45 billion, Field Business Development Investments / Amount Approximately ¥25 billion (including approximately ¥5 billion in research and development investments)
Statements about the use of capital
Payout ratio / DOE policyThe dividend payout ratio targets are 20% for fiscal 2026, 25% for fiscal 2027 and 30% for fiscal 2028. The applicable period is fiscal 2026 through fiscal 2028. No DOE is stated.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC: 9% (calculated using the share price of ¥5,577 as of the end of March 2026)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 company states that its share price has remained firm as earnings have recovered and its financial base has strengthened, and that its business management policies, including an emphasis on the earnings base and financial discipline, have received an overall positive assessment. PBR: Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Further growth of core businesses
02Expansion of new businesses
03Expansion and strengthening of the maintenance and servicing business
04Development of dual-fuel engines and strengthening of peripheral equipment businesses
05Establishment of a production capacity expansion structure
06Promotion of new digital businesses
07Expansion of the product lineup
08Expansion into global markets
Plan assumptionsThe order environment in the core businesses is expected to remain relatively favorable for the time being, Escalation of tensions in the Middle East, Higher prices resulting from rising resource prices, The fiscal 2026 plan incorporates a certain degree of uncertainty and a partially conservative outlook
Non-financial targetsIndicator Percentage of female employees / Target value 9% (fiscal 2027 and fiscal 2028), 10% (fiscal 2030) / Timing Fiscal 2027 through fiscal 2030, Indicator Percentage of Female Managers / Target value 4% (fiscal 2027), 5% (fiscal 2028) / Timing Fiscal 2027 through fiscal 2028, Indicator Percentage of foreign employees / Target value 5% (fiscal 2027 and fiscal 2028), 7% (fiscal 2030) / Timing Fiscal 2027 through fiscal 2030, Indicator CO2 reduction through environmentally friendly products / Target value At least 10 million t-CO2 per year / Timing FY2030, Indicator CO2 reduction from production activities through expanded use of green electricity / Target value At least 10,000 t-CO2 per year / Timing FY2030, Indicator Cumulative sales and operating units of automated and systemized port-related products / Target value At least 1,000 / Timing Cumulative for fiscal 2022 through fiscal 2030, Indicator Percentage of remote-controlled and automated cranes / Target value 5% (fiscal 2026 forecast), 14% (fiscal 2027 forecast) / Timing Fiscal 2026 through fiscal 2027, Indicator Starting salary / Target value At least a 6% increase for all educational backgrounds in fiscal 2026 / Timing Fiscal 2026
Risks identified by the company
Escalation of tensions in the Middle East
Higher prices resulting from rising resource prices
Uncertainty in the business environment
Reason for revision or withdrawal
The plan was revised in light of the fiscal 2025 results and changes in the business environment. The fiscal 2026 plan was prepared conservatively, incorporating a certain degree of uncertainty related to higher prices and the situation in the Middle East.
| Item | Details |
|---|---|
| Plan name | Mitsui E&S Rolling Vision 2026 (Medium-Term Management Plan) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Sales Target | ¥353.2 billion (fiscal 2025 actual) → ¥440 billion (fiscal 2028 plan)（＋24.6％） |
| Operating profit target | ¥37.6 billion (fiscal 2025 actual) → ¥42 billion (fiscal 2028 plan)（＋11.7％） |
| Operating profit margin target | 10.7% (FY2025 actual) → 9.5% (fiscal 2028 plan)（▲11.2％） |
| ROE target | 19% (fiscal 2025 actual) → 12% (fiscal 2028 plan)（▲36.8％） |
| ROIC target | 16% (fiscal 2025 actual) → 10% (fiscal 2028 plan)（▲37.5％） |
| Payout ratio / DOE policy | The dividend payout ratio targets are 20% for fiscal 2026, 25% for fiscal 2027 and 30% for fiscal 2028. The applicable period is fiscal 2026 through fiscal 2028. No DOE is stated. |
| Cost of capital | WACC: 9% (calculated using the share price of ¥5,577 as of the end of March 2026) |
| Self-assessment of PBR and share price | The company states that its share price has remained firm as earnings have recovered and its financial base has strengthened, and that its business management policies, including an emphasis on the earnings base and financial discipline, have received an overall positive assessment. PBR: Not disclosed. |
| Total investment plan | Approximately ¥70 billion (approximately ¥45 billion in business growth investments plus approximately ¥25 billion in business development investments, fiscal 2026 through fiscal 2028) |
| Investment amount by sector | Field Business growth investments / Amount Approximately ¥45 billion, Field Business Development Investments / Amount Approximately ¥25 billion (including approximately ¥5 billion in research and development investments) |
| Non-financial targets | Indicator Percentage of female employees / Target value 9% (fiscal 2027 and fiscal 2028), 10% (fiscal 2030) / Timing Fiscal 2027 through fiscal 2030, Indicator Percentage of Female Managers / Target value 4% (fiscal 2027), 5% (fiscal 2028) / Timing Fiscal 2027 through fiscal 2028, Indicator Percentage of foreign employees / Target value 5% (fiscal 2027 and fiscal 2028), 7% (fiscal 2030) / Timing Fiscal 2027 through fiscal 2030, Indicator CO2 reduction through environmentally friendly products / Target value At least 10 million t-CO2 per year / Timing FY2030, Indicator CO2 reduction from production activities through expanded use of green electricity / Target value At least 10,000 t-CO2 per year / Timing FY2030, Indicator Cumulative sales and operating units of automated and systemized port-related products / Target value At least 1,000 / Timing Cumulative for fiscal 2022 through fiscal 2030, Indicator Percentage of remote-controlled and automated cranes / Target value 5% (fiscal 2026 forecast), 14% (fiscal 2027 forecast) / Timing Fiscal 2026 through fiscal 2027, Indicator Starting salary / Target value At least a 6% increase for all educational backgrounds in fiscal 2026 / Timing Fiscal 2026 |
| Plan assumptions | The order environment in the core businesses is expected to remain relatively favorable for the time being, Escalation of tensions in the Middle East, Higher prices resulting from rising resource prices, The fiscal 2026 plan incorporates a certain degree of uncertainty and a partially conservative outlook |
| Key initiatives | Further growth of core businesses, Expansion of new businesses, Expansion and strengthening of the maintenance and servicing business, Development of dual-fuel engines and strengthening of peripheral equipment businesses, Establishment of a production capacity expansion structure, Promotion of new digital businesses, Expansion of the product lineup, Expansion into global markets |
| Results under the previous plan | Fiscal 2025 plan under Rolling Vision 2025: revenue of ¥340 billion, operating margin of 7.0%, equity ratio of 39%, ROIC of 9%, ROE of 11% and dividend payout ratio of 15% → Fiscal 2025 actual: revenue of ¥353.2 billion, operating margin of 10.7%, equity ratio of 46.3%, ROIC of 16%, ROE of 19% and dividend payout ratio of 15%（Revenue: +3.9%. All other changes are stated as percentage-point differences.） |
| Reason for revision or withdrawal | The plan was revised in light of the fiscal 2025 results and changes in the business environment. The fiscal 2026 plan was prepared conservatively, incorporating a certain degree of uncertainty related to higher prices and the situation in the Middle East. |
| Risks identified | Escalation of tensions in the Middle East, Higher prices resulting from rising resource prices, Uncertainty in the business environment |
| Publication date | 25 May 2026 |
Items this document does not state (5)
Net income targetTreasury share acquisition policySegment targetSize 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 plan reflects the results for fiscal 2025 and changes in the business environment. Although the order environment for the core businesses is expected to remain relatively favorable, uncertainty is high due to the escalating situation in the Middle East and higher prices resulting from rising resource prices. The fiscal 2026 plan therefore incorporates a partially conservative outlook.
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