Worth reading
33Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedStatements about the use of capital
Cost of capitalCost of equity: 7–8%. Estimated by the Company based on CAPM.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR had remained around 1x, but rose to 2.4x in 2025. The share price was ¥931 (closing price on 30 December 2025).PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Improve profitability (raise ROE)
02Invest cash flow generated by the core childcare business in the nursing care business and M&A
03Continue actively considering the expansion of shareholder returns, taking the Company's financial position into account
04Increase the market's expected growth rate by achieving the medium-term management plan and long-term vision
05Emphasize EBITDA as an indicator for growth investment and improve profitability
06Increase the frequency of holding and participating in investor briefings on financial results and company briefings
07Enhance information disclosure
08Actively disclose medium- to long-term strategies
09Introduce a shareholder benefit program from the current fiscal year
Reason for revision or withdrawal
Since 2022, ROE has remained below the Company's assumed cost of capital. While improving profitability remains the primary prerequisite, the Company recognizes the need to demonstrate further growth potential by also focusing on increasing free cash flow and optimizing its capital structure.
| Item | Details |
|---|---|
| Plan name | Long-Term Vision "tenoVISION2030" |
| Progress against the plan | Partially revised |
| Cost of capital | Cost of equity: 7–8%. Estimated by the Company based on CAPM. |
| Self-assessment of PBR and share price | PBR had remained around 1x, but rose to 2.4x in 2025. The share price was ¥931 (closing price on 30 December 2025). |
| Key initiatives | Improve profitability (raise ROE), Invest cash flow generated by the core childcare business in the nursing care business and M&A, Continue actively considering the expansion of shareholder returns, taking the Company's financial position into account, Increase the market's expected growth rate by achieving the medium-term management plan and long-term vision, Emphasize EBITDA as an indicator for growth investment and improve profitability, Increase the frequency of holding and participating in investor briefings on financial results and company briefings, Enhance information disclosure, Actively disclose medium- to long-term strategies, Introduce a shareholder benefit program from the current fiscal year |
| Reason for revision or withdrawal | Since 2022, ROE has remained below the Company's assumed cost of capital. While improving profitability remains the primary prerequisite, the Company recognizes the need to demonstrate further growth potential by also focusing on increasing free cash flow and optimizing its capital structure. |
| Date of board resolution | 23 April 2026 |
| Publication date | 23 April 2026 |
Items this document does not state (17)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize of the Target MarketRisks identified
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.ROE has remained below the Company's assumed cost of capital since 2022. The Company recognizes the need to focus on increasing free cash flow and optimizing its capital structure, while improving profitability as a prerequisite, in order to demonstrate further growth potential.
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.