Worth reading
79Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
5
Percentage points (sales ratio for environmentally friendly products)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedROE-2,018.0pt
基準 2,026Target8％
ROIC-2,018.8pt
基準 2,026Target7.2％
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).
Net SalesNot disclosed → ¥80.0 billion
Operating profitNot disclosed → ¥5.2 billion
Operating profit marginNot disclosed → 6.5％
Only the target level is shown because the current level for comparison was not provided.What happened to the previous plan20.0% (target for the fiscal year ending March 2030) → 20.4% (actual for the fiscal year ended March 2026)（2.0％）-0.2%Calculated from the two disclosed figures
Total investment plan¥30.5 billion (fiscal years ending March 2027 through March 2030)
Investment amount by sectorField Marketing Investment / Amount ¥2.5 billion, Field Innovation investment / Amount ¥25 billion, Field Sustainability investment / Amount ¥2 billion, Field Other investments / Amount ¥1 billion, Field Logistics investment / Amount ¥15 billion, Field M&A / Amount To be considered outside the allocation
Statements about the use of capital
Payout ratio / DOE policyAim for a consolidated dividend payout ratio of 50% or a consolidated dividend-on-equity (DOE) ratio of 3% or higher. This policy will continue throughout the Second Medium-Term Management Plan period (fiscal years ending March 2027 through March 2030).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 policyThe company will carefully consider share buybacks while assessing market conditions. The buyback amount and timing are not disclosed.
Cost of capitalThe cost of equity is recognized as approximately 7–8%.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 was 0.89x for the fiscal year ended March 2026, below 1.0x, and the company recognizes that it is not sufficiently valued by the market. It aims to achieve a PBR of 1.0x or higher as soon as possible, and no later than the fiscal year ending March 2030.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Improving Gross Margin
02Containing selling, general and administrative expenses through productivity improvements
03Improving performance by recovering returns
04Enhancing corporate value by increasing awareness
05Building a shareholder base that supports stable growth
Non-financial targetsIndicator Sales ratio of environmentally friendly products among the company’s original products / Target value 25.0％ / Timing Fiscal year ending March 2030, Indicator Internal-use AI adoption rate / Target value 100％ / Timing Through the fiscal year ending March 2030, Indicator Order EDI ratio / Target value 90％ / Timing Through the fiscal year ending March 2030, Indicator Purchasing EDI ratio / Target value 70％ / Timing Through the fiscal year ending March 2030, Indicator Electronic contract ratio / Target value 60％ / Timing Through the fiscal year ending March 2030, Indicator Electronic delivery note ratio / Target value 50％ / Timing Through the fiscal year ending March 2030, Indicator Electronic invoice ratio / Target value 90％ / Timing Through the fiscal year ending March 2030, Indicator Reduction in routine operations / Target value 30％ / Timing Through the fiscal year ending March 2030
Risks identified by the company
Capital investment for the new Kasai distribution center may reduce ROIC in the short term
Actual results may differ from the plan due to various factors, and the plan’s achievement is neither promised nor guaranteed
Reason for revision or withdrawal
The company further analyzed the current situation and updated its approach and initiatives. It identified insufficient market valuation of its profitability and growth potential as an issue and will work to enhance corporate value from both the perspectives of earning power and growth expectations.
| Item | Details |
|---|---|
| Plan name | Second Medium-Term Management Plan “Dream Action 2030” |
| Plan period | Fiscal year ending March 2027 to fiscal year ending March 2030 |
| Progress against the plan | Partially revised |
| Sales Target | Not disclosed → ¥80.0 billion |
| Operating profit target | Not disclosed → ¥5.2 billion |
| Operating profit margin target | Not disclosed → 6.5％ |
| ROE target | 7.6% (actual results for the fiscal year ended March 2026) → At least 8.0% |
| ROIC target | 5.8% (actual for the fiscal year ended March 2026) → 6.5～7.2％ |
| Payout ratio / DOE policy | Aim for a consolidated dividend payout ratio of 50% or a consolidated dividend-on-equity (DOE) ratio of 3% or higher. This policy will continue throughout the Second Medium-Term Management Plan period (fiscal years ending March 2027 through March 2030). |
| Treasury share acquisition policy | The company will carefully consider share buybacks while assessing market conditions. The buyback amount and timing are not disclosed. |
| Cost of capital | The cost of equity is recognized as approximately 7–8%. |
| Self-assessment of PBR and share price | PBR was 0.89x for the fiscal year ended March 2026, below 1.0x, and the company recognizes that it is not sufficiently valued by the market. It aims to achieve a PBR of 1.0x or higher as soon as possible, and no later than the fiscal year ending March 2030. |
| Total investment plan | ¥30.5 billion (fiscal years ending March 2027 through March 2030) |
| Investment amount by sector | Field Marketing Investment / Amount ¥2.5 billion, Field Innovation investment / Amount ¥25 billion, Field Sustainability investment / Amount ¥2 billion, Field Other investments / Amount ¥1 billion, Field Logistics investment / Amount ¥15 billion, Field M&A / Amount To be considered outside the allocation |
| Non-financial targets | Indicator Sales ratio of environmentally friendly products among the company’s original products / Target value 25.0％ / Timing Fiscal year ending March 2030, Indicator Internal-use AI adoption rate / Target value 100％ / Timing Through the fiscal year ending March 2030, Indicator Order EDI ratio / Target value 90％ / Timing Through the fiscal year ending March 2030, Indicator Purchasing EDI ratio / Target value 70％ / Timing Through the fiscal year ending March 2030, Indicator Electronic contract ratio / Target value 60％ / Timing Through the fiscal year ending March 2030, Indicator Electronic delivery note ratio / Target value 50％ / Timing Through the fiscal year ending March 2030, Indicator Electronic invoice ratio / Target value 90％ / Timing Through the fiscal year ending March 2030, Indicator Reduction in routine operations / Target value 30％ / Timing Through the fiscal year ending March 2030 |
| Key initiatives | Improving Gross Margin, Containing selling, general and administrative expenses through productivity improvements, Improving performance by recovering returns, Enhancing corporate value by increasing awareness, Building a shareholder base that supports stable growth |
| Results under the previous plan | 20.0% (target for the fiscal year ending March 2030) → 20.4% (actual for the fiscal year ended March 2026)（2.0％） |
| Reason for revision or withdrawal | The company further analyzed the current situation and updated its approach and initiatives. It identified insufficient market valuation of its profitability and growth potential as an issue and will work to enhance corporate value from both the perspectives of earning power and growth expectations. |
| Risks identified | Capital investment for the new Kasai distribution center may reduce ROIC in the short term, Actual results may differ from the plan due to various factors, and the plan’s achievement is neither promised nor guaranteed |
| Date of board resolution | 25 May 2026 |
| Publication date | 25 May 2026 |
Items this document does not state (4)
Net income targetSegment 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.Following further analysis of the current situation, the company identified insufficient market valuation of its profitability and growth potential as an issue. It therefore updated its approach and initiatives to enhance corporate value from both the perspectives of earning power and growth expectations.
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.
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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.