Worth reading
79Important
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
-3.1
Operating margin (percentage points)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales0.0%
基準 450Target450100 million (FY2026-FY2028 average)
Operating profit margin-3.1pt
基準 6Target2.9% (FY2026-FY2028 average)
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 → ¥13 100 million (FY2026-FY2028 average)
ROICNot disclosed → 2.6 % (FY2026-FY2028 average)
Only the target level is shown because the current level for comparison was not provided.Statements about the use of capital
Payout ratio / DOE policyMaintain a minimum dividend of ¥50The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Manufacturing transformation
02Growth of Overseas Business
03Sustainability
04Ongoing efforts to pass through higher costs
05Improving the profitability of projects already secured
06Securing profitability in North American maintenance projects
07Winning new projects
Plan assumptionsPersistently high inflation and heightened uncertainty, including geopolitical risks. Declining demand due to Japan's falling birth rate and the need to secure human resources. Actual results may differ materially from the outlook due to economic conditions, changes in foreign exchange rates, tax laws and other systems.
Risks identified by the company
Inflation
Geopolitical risk
Declining demand due to Japan's falling birth rate
Securing Human Resources
Economic Conditions
Changes in foreign exchange rates
Tax laws and other systems
Reason for revision or withdrawal
Profitability deteriorated on projects secured during the COVID-19 pandemic because inflation significantly exceeded the assumptions made when the Medium-Term Management Plan was formulated. Both sales and profit declined during the transition period between projects in the North American railcar maintenance business.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2028 (Review and Revision) |
| Plan period | Fiscal years 2026-2028 |
| Progress against the plan | Partially revised |
| Sales Target | ¥450 100 million (FY2026-FY2028 average) → ¥450 100 million (FY2026-FY2028 average)（0.0%） |
| Operating profit target | Not disclosed → ¥13 100 million (FY2026-FY2028 average) |
| Operating profit margin target | 6 % (FY2026-FY2028 average) → 2.9 % (FY2026-FY2028 average)（-51.7%） |
| ROIC target | Not disclosed → 2.6 % (FY2026-FY2028 average) |
| Payout ratio / DOE policy | Maintain a minimum dividend of ¥50 |
| Plan assumptions | Persistently high inflation and heightened uncertainty, including geopolitical risks. Declining demand due to Japan's falling birth rate and the need to secure human resources. Actual results may differ materially from the outlook due to economic conditions, changes in foreign exchange rates, tax laws and other systems. |
| Key initiatives | Manufacturing transformation, Growth of Overseas Business, Sustainability, Ongoing efforts to pass through higher costs, Improving the profitability of projects already secured, Securing profitability in North American maintenance projects, Winning new projects |
| Reason for revision or withdrawal | Profitability deteriorated on projects secured during the COVID-19 pandemic because inflation significantly exceeded the assumptions made when the Medium-Term Management Plan was formulated. Both sales and profit declined during the transition period between projects in the North American railcar maintenance business. |
| Risks identified | Inflation, Geopolitical risk, Declining demand due to Japan's falling birth rate, Securing Human Resources, Economic Conditions, Changes in foreign exchange rates, Tax laws and other systems |
| Publication date | 13 May 2026 |
Items this document does not state (12)
Net income targetROE targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planSize 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.Profitability deteriorated on projects secured during the COVID-19 pandemic because inflation significantly exceeded the assumptions made when the plan was formulated, and both sales and profit declined during the transition period between projects in the North American railcar maintenance business.
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.