Worth reading
53Recurring
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
43
¥100 million (operating income target for the fiscal year ending March 2035)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+9.0pt
基準 2,026Target2,035%
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 → Fiscal year ending March 2035: ¥4.3 billion (fiscal year ending March 2030: ¥2.5 billion)
ROICNot disclosed → Fiscal year ending March 2030: 7%; fiscal year ending March 2035: 8%
Only the target level is shown because the current level for comparison was not provided.Statements about the use of capital
Payout ratio / DOE policyThe target payout ratio is 30%. The company will provide stable, phased shareholder returns while balancing them against growth investments. Applicable period: Not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe company plans to repurchase its own shares in the fiscal year ending March 2027, for a total of approximately ¥1.1 billion. It will also consider flexible share repurchases going forward.
Cost of capital7%–9% (cost of shareholders’ equity)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 has remained below 1x. PER is below the market and industry averages. PER for the fiscal year ended March 2026 was 8.8x, compared with 15.3x for the simple average of all companies in the Standard Market and 18.1x for the simple industry average.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Accelerate the transformation of the business revenue model by strengthening co-creation schemes with external partners
02Build high-value-added and sustainable business models
03From a focus on vehicle sales to a platform business that enhances value throughout the entire period of use.
04Secure at least 30% of operating income in the fiscal year ending March 2035 by developing new fields aimed at creating new value, including in existing businesses, and actively utilizing M&A
05Introduce ROIC, promote its adoption across the company, and strengthen the management infrastructure
06Strengthen earnings power through the steady execution of business strategies
07Enhance business portfolio management
08Optimize inventory management
09Improve the efficiency of capital investment
10Set a new dividend target, with a payout ratio of 30% as the target level
11Strengthen engagement, including investor relations activities
12Governance Enhancement
13Create new businesses and develop new fields
14Strengthen efforts related to M&A
Segment targetSegment New businesses and new fields / Target Secure at least 30% of operating income in the fiscal year ending March 2035
Risks identified by the company
Actual results may differ significantly due to various factors
| Item | Details |
|---|---|
| Plan name | Long-term management plan "Next35" |
| Plan period | Starting fiscal year: Not disclosed; targets for the fiscal years ending March 2030 and March 2035; final fiscal year: fiscal year ending March 2035 |
| Progress against the plan | Formulated |
| Operating profit target | Not disclosed → Fiscal year ending March 2035: ¥4.3 billion (fiscal year ending March 2030: ¥2.5 billion) |
| ROE target | Most recent actual: 4.8% (fiscal year ended March 2026) → Fiscal year ending March 2030: 7%; fiscal year ending March 2035: 10% |
| ROIC target | Not disclosed → Fiscal year ending March 2030: 7%; fiscal year ending March 2035: 8% |
| Payout ratio / DOE policy | The target payout ratio is 30%. The company will provide stable, phased shareholder returns while balancing them against growth investments. Applicable period: Not disclosed |
| Treasury share acquisition policy | The company plans to repurchase its own shares in the fiscal year ending March 2027, for a total of approximately ¥1.1 billion. It will also consider flexible share repurchases going forward. |
| Cost of capital | 7%–9% (cost of shareholders’ equity) |
| Self-assessment of PBR and share price | PBR has remained below 1x. PER is below the market and industry averages. PER for the fiscal year ended March 2026 was 8.8x, compared with 15.3x for the simple average of all companies in the Standard Market and 18.1x for the simple industry average. |
| Segment target | Segment New businesses and new fields / Target Secure at least 30% of operating income in the fiscal year ending March 2035 |
| Key initiatives | Accelerate the transformation of the business revenue model by strengthening co-creation schemes with external partners, Build high-value-added and sustainable business models, From a focus on vehicle sales to a platform business that enhances value throughout the entire period of use., Secure at least 30% of operating income in the fiscal year ending March 2035 by developing new fields aimed at creating new value, including in existing businesses, and actively utilizing M&A, Introduce ROIC, promote its adoption across the company, and strengthen the management infrastructure, Strengthen earnings power through the steady execution of business strategies, Enhance business portfolio management, Optimize inventory management, Improve the efficiency of capital investment, Set a new dividend target, with a payout ratio of 30% as the target level, Strengthen engagement, including investor relations activities, Governance Enhancement, Create new businesses and develop new fields, Strengthen efforts related to M&A |
| Risks identified | Actual results may differ significantly due to various factors |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (10)
Sales TargetOperating profit margin targetNet income targetTotal investment planInvestment amount by sectorNon-financial targetsPlan assumptionsResults 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.The company aims to achieve sustainable growth in corporate value by improving profitability and growth expectations, as its PBR has remained below 1x, ROE is below the cost of shareholders’ equity, and its PER is also below the market and industry averages.
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.