Worth reading
70In 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
5
Days (CCC improvement)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateROE+6.0pt
基準 2,024Target2,030%
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 → Reference: ¥13 billion
Only the target level is shown because the current level for comparison was not provided.Total investment plan¥69 billion
Investment amount by sectorField Capital Expenditure / Amount ¥56 billion, Field Structural Reform and Growth Investment / Amount Approximately ¥26 billion, Field Maintenance investment / Amount ¥30 billion, Field Investment in Human Capital / Amount ¥3 billion, Field Shareholder Returns / Amount ¥10 billion
Statements about the use of capital
Payout ratio / DOE policyDuring the new medium-term management plan period (fiscal years 2025–2027), implement progressive dividends while targeting a DOE of approximately 2.5%.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyAcquire treasury shares flexibly, taking into account market conditions, capital efficiency and other factors.
Cost of capitalThe cost of shareholders’ equity is recognized as approximately 8%.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 is trending upward, but the Company aims to achieve further improvement. It aims to turn the equity spread positive by fiscal 2030. PBR was 0.48x as of the end of December 2025.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Structural Reform
02Establishing sustainable selling prices
03Planting the seeds for growth businesses
04Strengthening the aluminum wheel business
05Restructuring overseas businesses
06Advancing the recycling business
07Developing a circular business
08New Product Development
09Reduction of cross-shareholdings
10Improving the cash conversion cycle (CCC)
11Enhancement of shareholder returns
12Cash Allocation
13Strengthening Investor Relations Activities
14Transitioning to a company with an Audit and Supervisory Committee (strengthening governance)
15Introducing a stock compensation plan for senior employees (strengthening human capital)
Plan assumptionsTaking into account market conditions, capital efficiency and other factors. In India, automobile production is expected to exceed Japan’s and reach the scale of the world’s third-largest market around 2030 (the Company’s forecast).
Size of the Target MarketIn India, automobile production is expected to exceed Japan’s and reach the scale of the world’s third-largest market around 2030. Source: the Company’s forecast.
Reason for revision or withdrawal
The measures to achieve management that is conscious of the cost of capital and share price have been updated based on an analysis and evaluation of the current situation and progress in related initiatives.
| Item | Details |
|---|---|
| Plan name | New Medium-Term Management Plan |
| Plan period | FY2025–FY2027 |
| Progress against the plan | Annual update |
| Operating profit target | Not disclosed → Reference: ¥13 billion |
| ROE target | Fiscal 2024 actual: 4.6% → 6.0% or higher in fiscal 2027; 8.0% or higher in fiscal 2030, the final year of the next medium-term management plan |
| Payout ratio / DOE policy | During the new medium-term management plan period (fiscal years 2025–2027), implement progressive dividends while targeting a DOE of approximately 2.5%. |
| Treasury share acquisition policy | Acquire treasury shares flexibly, taking into account market conditions, capital efficiency and other factors. |
| Cost of capital | The cost of shareholders’ equity is recognized as approximately 8%. |
| Self-assessment of PBR and share price | PBR is trending upward, but the Company aims to achieve further improvement. It aims to turn the equity spread positive by fiscal 2030. PBR was 0.48x as of the end of December 2025. |
| Total investment plan | ¥69 billion |
| Investment amount by sector | Field Capital Expenditure / Amount ¥56 billion, Field Structural Reform and Growth Investment / Amount Approximately ¥26 billion, Field Maintenance investment / Amount ¥30 billion, Field Investment in Human Capital / Amount ¥3 billion, Field Shareholder Returns / Amount ¥10 billion |
| Plan assumptions | Taking into account market conditions, capital efficiency and other factors. In India, automobile production is expected to exceed Japan’s and reach the scale of the world’s third-largest market around 2030 (the Company’s forecast). |
| Key initiatives | Structural Reform, Establishing sustainable selling prices, Planting the seeds for growth businesses, Strengthening the aluminum wheel business, Restructuring overseas businesses, Advancing the recycling business, Developing a circular business, New Product Development, Reduction of cross-shareholdings, Improving the cash conversion cycle (CCC), Enhancement of shareholder returns, Cash Allocation, Strengthening Investor Relations Activities, Transitioning to a company with an Audit and Supervisory Committee (strengthening governance), Introducing a stock compensation plan for senior employees (strengthening human capital) |
| Reason for revision or withdrawal | The measures to achieve management that is conscious of the cost of capital and share price have been updated based on an analysis and evaluation of the current situation and progress in related initiatives. |
| Size of the Target Market | In India, automobile production is expected to exceed Japan’s and reach the scale of the world’s third-largest market around 2030. Source: the Company’s forecast. |
| Date of board resolution | 24 March 2026 |
| Publication date | 24 March 2026 |
Items this document does not state (8)
Sales TargetOperating profit margin targetNet income targetROIC targetSegment targetNon-financial targetsResults under the previous planRisks 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.To meet market expectations and present a growth strategy, while improving capital efficiency, providing more stable shareholder returns and enhancing corporate value.
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.