Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-4000
¥ million (consolidated sales target; consolidated operating loss of ¥600 million)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales-9.8%
基準 41,000Target37,000million
Operating profit-21.4%
基準 2,800Target2,200million
Net income for the current fiscal year+0.0%
基準 2,026Target2,027hundred million
ROE+1.0pt
基準 2,026Target2,027%
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).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planInitial target announced for the fiscal year ending March 2027: consolidated sales of 41,000 and operating profit of 2,800 → Actual for the fiscal year ending March 2026: consolidated sales of 339 and operating profit of 17.7-95.1%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyContinue paying dividends with a target payout ratio of 30% to 40%. No specific period is stated.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01I. Strengthen earnings capacity through a fundamental increase in production capacity
02① Improve productivity through investments in labor-saving measures
03② Improve margins through cost reductions
04③ Expand capabilities for high-mix, low-volume production
05④ Complete final preparations to expand production of in-house silicone lenses
06II. Strengthen and provide services that address domestic and overseas markets
07① Communicate the Company's purpose, build a corporate brand that resonates with diverse stakeholders, enhance the value of the Company itself, and establish distinctive appeal and a unique market position
08② Expand sales and delivery services with a focus on B2B2C
09③ Strengthen domestic and overseas logistics services
10④ Create awareness-raising tools for facilities and other organizations tailored to each country
11III. Manufacturing aligned with market needs
12① Strengthen quality control
13② Promote the development of next-generation products
14③ Achieve manufacturing in collaboration with contract manufacturers
15IV. Strengthen internal foundations and secure and develop human resources
16① Strengthen the organization's internal foundations
17② Utilize AI and IT
18③ Secure human resources
19④ Educate, develop and utilize human resources
20V. Promote the SDGs
21① Promote diversity and inclusion
22② Establish a pathway to carbon neutrality
23③ Initiatives to respect human rights
24④ Strengthen initiatives for coexistence with local communities
25⑤ Promote sports support projects
26VI. Stable shareholder returns
27① Initiatives to enhance corporate value on the Standard Market
28② Implement appropriate dividend policies
29③ Optimize the shareholder benefit program
Plan assumptionsItem Growth rate of the domestic contact lens market / Assumptions 107.8% in 2020, 109.9% in 2021, 107.4% in 2022, 101.7% in 2023, 104.7% in 2024, 103.2% in 2025, and 103.2% in 2026. The market is expected to continue growing from the current fiscal year onward. / Source Based on manufacturers' shipment value (Company research), Item Risk assumptions / Assumptions Instability in the situation in the Middle East, uncertainty regarding energy prices and the logistics and procurement environment, surging raw material prices, foreign exchange fluctuations, and various domestic and overseas regulations / Source Not disclosed
Non-financial targetsIndicator name Carbon Neutrality / Target value Carbon neutrality by 2050 / Timing 2050, Indicator name Production capacity of the first phase of Building No. 4 / Target value 14 million sheets per month / Timing Completion in January 2026, Indicator name Production capacity of the second phase of Building No. 4 / Target value 10.5 million sheets per month / Timing Not disclosed
Size of the Target MarketMarket Size ¥326.0 billion in 2026 / Growth rate 107.8% in 2020, 109.9% in 2021, 107.4% in 2022, 101.7% in 2023, 104.7% in 2024, 103.2% in 2025, and 103.2% in 2026 / Source Based on manufacturers' shipment value (Company research)
Risks identified by the company
Geopolitical risks, including heightened tensions in the Middle East
Instability in the supply of raw materials
Rising Raw Material and Energy Prices
Supply constraints
Higher costs resulting from surging raw material prices
Delays in launching new products
Changes in economic conditions and product demand in the market
Foreign Exchange Volatility
Changes in various domestic and overseas regulations
Changes in accounting standards, practices and other requirements
Reason for revision or withdrawal
In light of geopolitical risks, including heightened tensions in the Middle East, the Company reviewed and updated its key priorities and other items in response to recent sales progress, taking into account potential instability in the future supply of raw materials and the possibility of higher raw material and energy prices. The review also reflects the expected risks of higher costs resulting from supply constraints and surging raw material prices, as well as delays in launching new products.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan |
| Plan period | April 2024 to March 2027 |
| Progress against the plan | Partially revised |
| Sales Target | Consolidated: 41,000; non-consolidated: 36,000 → Consolidated: 37,000; non-consolidated: 32,000 |
| Operating profit target | Consolidated: 2,800; non-consolidated: 2,700 → Consolidated: 2,200; non-consolidated: 2,200 |
| Net income target | Actual for the fiscal year ending March 2026: ¥1.13 billion → Plan for the fiscal year ending March 2027: ¥1.35 billion |
| ROE target | Actual for the fiscal year ending March 2026: 6.1% → Plan for the fiscal year ending March 2027: 6.9% |
| Payout ratio / DOE policy | Continue paying dividends with a target payout ratio of 30% to 40%. No specific period is stated. |
| Non-financial targets | Indicator name Carbon Neutrality / Target value Carbon neutrality by 2050 / Timing 2050, Indicator name Production capacity of the first phase of Building No. 4 / Target value 14 million sheets per month / Timing Completion in January 2026, Indicator name Production capacity of the second phase of Building No. 4 / Target value 10.5 million sheets per month / Timing Not disclosed |
| Plan assumptions | Item Growth rate of the domestic contact lens market / Assumptions 107.8% in 2020, 109.9% in 2021, 107.4% in 2022, 101.7% in 2023, 104.7% in 2024, 103.2% in 2025, and 103.2% in 2026. The market is expected to continue growing from the current fiscal year onward. / Source Based on manufacturers' shipment value (Company research), Item Risk assumptions / Assumptions Instability in the situation in the Middle East, uncertainty regarding energy prices and the logistics and procurement environment, surging raw material prices, foreign exchange fluctuations, and various domestic and overseas regulations / Source Not disclosed |
| Key initiatives | I. Strengthen earnings capacity through a fundamental increase in production capacity, ① Improve productivity through investments in labor-saving measures, ② Improve margins through cost reductions, ③ Expand capabilities for high-mix, low-volume production, ④ Complete final preparations to expand production of in-house silicone lenses, II. Strengthen and provide services that address domestic and overseas markets, ① Communicate the Company's purpose, build a corporate brand that resonates with diverse stakeholders, enhance the value of the Company itself, and establish distinctive appeal and a unique market position, ② Expand sales and delivery services with a focus on B2B2C, ③ Strengthen domestic and overseas logistics services, ④ Create awareness-raising tools for facilities and other organizations tailored to each country, III. Manufacturing aligned with market needs, ① Strengthen quality control, ② Promote the development of next-generation products, ③ Achieve manufacturing in collaboration with contract manufacturers, IV. Strengthen internal foundations and secure and develop human resources, ① Strengthen the organization's internal foundations, ② Utilize AI and IT, ③ Secure human resources, ④ Educate, develop and utilize human resources, V. Promote the SDGs, ① Promote diversity and inclusion, ② Establish a pathway to carbon neutrality, ③ Initiatives to respect human rights, ④ Strengthen initiatives for coexistence with local communities, ⑤ Promote sports support projects, VI. Stable shareholder returns, ① Initiatives to enhance corporate value on the Standard Market, ② Implement appropriate dividend policies, ③ Optimize the shareholder benefit program |
| Results under the previous plan | Initial target announced for the fiscal year ending March 2027: consolidated sales of 41,000 and operating profit of 2,800 → Actual for the fiscal year ending March 2026: consolidated sales of 339 and operating profit of 17.7 |
| Reason for revision or withdrawal | In light of geopolitical risks, including heightened tensions in the Middle East, the Company reviewed and updated its key priorities and other items in response to recent sales progress, taking into account potential instability in the future supply of raw materials and the possibility of higher raw material and energy prices. The review also reflects the expected risks of higher costs resulting from supply constraints and surging raw material prices, as well as delays in launching new products. |
| Size of the Target Market | Market Size ¥326.0 billion in 2026 / Growth rate 107.8% in 2020, 109.9% in 2021, 107.4% in 2022, 101.7% in 2023, 104.7% in 2024, 103.2% in 2025, and 103.2% in 2026 / Source Based on manufacturers' shipment value (Company research) |
| Risks identified | Geopolitical risks, including heightened tensions in the Middle East, Instability in the supply of raw materials, Rising Raw Material and Energy Prices, Supply constraints, Higher costs resulting from surging raw material prices, Delays in launching new products, Changes in economic conditions and product demand in the market, Foreign Exchange Volatility, Changes in various domestic and overseas regulations, Changes in accounting standards, practices and other requirements |
| Publication date | 11 May 2026 |
Items this document does not state (9)
Operating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetDate of board resolution
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.In light of geopolitical risks, including heightened tensions in the Middle East, the Company took into account potential instability in the future supply of raw materials, the possibility of higher raw material and energy prices, recent sales progress, and risks including higher costs resulting from supply constraints and surging raw material prices, as well as delays in launching new products.
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