Worth reading
63In 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
20
Hundreds of millions of yenWording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+18.2%
基準 110Target130Hundreds of millions of yen
Operating profit+19.6%
基準 9.2Target11Hundreds of millions of yen
ROE+0.5pt
基準 6.5Target7%
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).
What happened to the previous planRevenue: ¥11.5 billion; operating profit: ¥500 million; ROE: 4.4%; CO2 emissions intensity reduction rate: 53% → Revenue: ¥11 billion; operating profit: ¥920 million; ROE: 6.5%; CO2 emissions intensity reduction rate: 47%+84.0%Calculated from the two disclosed figures
Investment amount by sectorField Growth and expansion / Amount 34 Hundreds of millions of yen, Field Research and development / Amount 4 Hundreds of millions of yen, Field M&A / alliances / Amount 5 Hundreds of millions of yen, Field Human Capital Investment / Amount 5 Hundreds of millions of yen
Statements about the use of capital
Payout ratio / DOE policyDOE of 2.5% for the fiscal year ending March 2029 and 3.5% for the fiscal year ending March 2035. The Company aims to provide stable dividends and will use DOE as its dividend metric.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe plan states that the Company aims to improve its PBR, but the current assessment and figures are not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Optimize the sales mix through multiple business pillars
02Cultivate core, competitive technologies, including net-shape technology
03Improve the ability to deliver value from the customer’s perspective
04Strengthen peripheral technologies required for commercialization
05Promote the transformation into a smart factory
06Secure the necessary talent and leverage AI
07Review the education and training system
08Adapt to greater diversity in working styles
09Establish an organization for developing new businesses
10Continuously strengthen information security
Non-financial targetsIndicator Scope 1 and Scope 2 CO2 emissions intensity / Target value 10% reduction from the fiscal year ending March 2026 / Timing Tenth Medium-Term Management Plan period, Indicator Paid leave utilization rate / Target value At least 80% / Timing Not disclosed, Indicator Parental leave utilization rate among male employees / Target value At least 50% / Timing Not disclosed
Risks identified by the company
Declining demand for pulleys, the Company’s core product, due to the electrification of automobiles
Dependence on sales to the ICE vehicle market, currently 75%
Talent Shortage
A divergence between actual results and earnings forecasts or future projections due to changes in the business environment
Risks and uncertainties
Reason for revision or withdrawal
As the current medium-term management plan enters its final fiscal year ending March 2026, a new Tenth Medium-Term Management Plan was formulated.
| Item | Details |
|---|---|
| Plan name | 10th Medium-Term Management Plan |
| Plan period | 2026/4~2029/3 |
| Progress against the plan | Formulated |
| Sales Target | 110 Hundreds of millions of yen → 130 Hundreds of millions of yen（+18.2%） |
| Operating profit target | 9.2 Hundreds of millions of yen → 11 Hundreds of millions of yen（+19.6%） |
| ROE target | 6.5 % → 7 %（+7.7%） |
| Payout ratio / DOE policy | DOE of 2.5% for the fiscal year ending March 2029 and 3.5% for the fiscal year ending March 2035. The Company aims to provide stable dividends and will use DOE as its dividend metric. |
| Self-assessment of PBR and share price | The plan states that the Company aims to improve its PBR, but the current assessment and figures are not disclosed. |
| Investment amount by sector | Field Growth and expansion / Amount 34 Hundreds of millions of yen, Field Research and development / Amount 4 Hundreds of millions of yen, Field M&A / alliances / Amount 5 Hundreds of millions of yen, Field Human Capital Investment / Amount 5 Hundreds of millions of yen |
| Non-financial targets | Indicator Scope 1 and Scope 2 CO2 emissions intensity / Target value 10% reduction from the fiscal year ending March 2026 / Timing Tenth Medium-Term Management Plan period, Indicator Paid leave utilization rate / Target value At least 80% / Timing Not disclosed, Indicator Parental leave utilization rate among male employees / Target value At least 50% / Timing Not disclosed |
| Key initiatives | Optimize the sales mix through multiple business pillars, Cultivate core, competitive technologies, including net-shape technology, Improve the ability to deliver value from the customer’s perspective, Strengthen peripheral technologies required for commercialization, Promote the transformation into a smart factory, Secure the necessary talent and leverage AI, Review the education and training system, Adapt to greater diversity in working styles, Establish an organization for developing new businesses, Continuously strengthen information security |
| Results under the previous plan | Revenue: ¥11.5 billion; operating profit: ¥500 million; ROE: 4.4%; CO2 emissions intensity reduction rate: 53% → Revenue: ¥11 billion; operating profit: ¥920 million; ROE: 6.5%; CO2 emissions intensity reduction rate: 47% |
| Reason for revision or withdrawal | As the current medium-term management plan enters its final fiscal year ending March 2026, a new Tenth Medium-Term Management Plan was formulated. |
| Risks identified | Declining demand for pulleys, the Company’s core product, due to the electrification of automobiles, Dependence on sales to the ICE vehicle market, currently 75%, Talent Shortage, A divergence between actual results and earnings forecasts or future projections due to changes in the business environment, Risks and uncertainties |
| Date of board resolution | 24 March 2026 |
| Publication date | 24 March 2026 |
Items this document does not state (9)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planSegment targetPlan assumptionsSize 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.As the current medium-term management plan enters its final fiscal year ending March 2026, a new Tenth Medium-Term Management Plan was formulated.
How to read this page
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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.