Items stated in the management plan
Partially revisedEach 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).
An update based on the current analysis and assessment and the status of initiatives. PBR at the end of the fiscal year ended May 2026 declined from 0.45x at the end of the previous fiscal year to 0.40x, and the company has not yet secured market recognition.
| Item | Details |
|---|---|
| Plan name | Second medium-term management plan |
| Progress against the plan | Partially revised |
| ROE target | 5.3 % → 8 %（+50.9%） |
| Payout ratio / DOE policy | Progressive dividend policy (steadily increasing dividends in line with profit growth). Applicable period: Not disclosed |
| Cost of capital | Approximately 5.1% on a CAPM basis |
| Self-assessment of PBR and share price | PBR at the end of the fiscal year ended May 2026 was 0.40x, down from 0.45x at the end of the previous fiscal year. The company has not yet secured market recognition. |
| Key initiatives | Sustained improvement in ROE: targeting 8% ROE, Improve share liquidity, Enhance shareholder returns, Strengthening information dissemination and enhancing dialogue, Reduction of cross-shareholdings |
| Results under the previous plan | 8 %（ROE） → 5.3 %（ROE）（-33.8%） |
| Reason for revision or withdrawal | An update based on the current analysis and assessment and the status of initiatives. PBR at the end of the fiscal year ended May 2026 declined from 0.45x at the end of the previous fiscal year to 0.40x, and the company has not yet secured market recognition. |
| Date of board resolution | 27 October 2026 |
| Publication date | 27 October 2026 |
Items this document does not state (14)
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.This is an update based on the current analysis and assessment and the status of initiatives. PBR at the end of the fiscal year ended May 2026 declined from 0.45x at the end of the previous fiscal year to 0.40x, and the company has not yet secured market recognition.