Worth reading
81Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
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Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
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How definitive the wording is.Items stated in the management plan
Annual updateNet Sales0.0%
基準 37,000Target37,000million
Operating profit0.0%
基準 2,026Target2,026million
Net income for the current fiscal year0.0%
基準 2,026Target2,026million
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 planNet Sales 33,500 / Operating profit 1,400 / Ordinary income 1,700 / Profit for the year attributable to owners of the parent 1,200 / ROE 4.0 → Net Sales 34,755 / Operating profit 1,586 / Ordinary income 1,979 / Profit for the year attributable to owners of the parent 2,311 / ROE 7.1
Total investment plan¥15-16 billion (cash allocation under Medium-Term Management Plan 2027)
Investment amount by sectorField Business Investment / Amount ¥5-6 billion, Field M&A / Amount ¥5 billion
Statements about the use of capital
Payout ratio / DOE policyA consolidated dividend payout ratio of at least 35% and consolidated DOE (dividend on equity) of at least 4%. The Company will continue to pay stable dividends and introduce interim dividends from the fiscal year ending March 2027.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC estimated by the Company: approximately 6%; cost of equity: approximately 7%The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe share price was ¥3,500 and PBR was 0.82x at the end of March 2026. PBR had remained at approximately 1.0x through early March 2026, but fell below 1.0x at the end of the fiscal year. The Company assessed that further improvement is necessary.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Implement initiatives based on Medium-Term Management Plan 2027
02Promoting Management Focused on the Cost of Capital
03Proactive Investment in Growth Areas
04Enhance shareholder returns and capital policy
05Strengthen IR activities
06Enhance corporate governance
Plan assumptionsExchange rates (average during the period): 149.98 for fiscal 2025 actual; 140.00 for the fiscal 2026 plan; 145.00 for the fiscal 2026 earnings forecast
Segment targetSegment Precision Components Business / Fiscal 2026 planned net sales ¥27,500 million / Fiscal 2026 earnings forecast net sales ¥27,750 million / Fiscal 2026 planned operating profit ¥2,450 million / Fiscal 2026 earnings forecast operating profit ¥2,750 million, Segment Household Products Business / Fiscal 2026 planned net sales ¥9,000 million / Fiscal 2026 earnings forecast net sales ¥8,750 million / Fiscal 2026 planned operating profit ¥50 million / Fiscal 2026 earnings forecast operating profit ¥0 million, Segment Other Businesses / Fiscal 2026 planned net sales ¥500 million / Fiscal 2026 earnings forecast net sales ¥500 million / Fiscal 2026 planned operating profit ¥100 million / Fiscal 2026 earnings forecast operating profit ¥100 million
Reason for revision or withdrawal
At the Board of Directors meeting held today, the Company analyzed and assessed the current situation and reconfirmed its policies and initiatives for improvement. PBR fell below 1.0x at the end of the fiscal year, indicating the need for further improvement.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2027 |
| Plan period | FY2025–FY2027 |
| Progress against the plan | Annual update |
| Sales Target | Fiscal 2026 plan 37,000 → Fiscal 2026 earnings forecast 37,000（0%） |
| Operating profit target | Fiscal 2026 plan 2,000 → Fiscal 2026 earnings forecast 2,000（0%） |
| Net income target | Fiscal 2026 plan 1,700 → Fiscal 2026 earnings forecast 1,700（0%） |
| ROE target | Fiscal 2026 plan 5.0% → Fiscal 2026 earnings forecast 5.0%; fiscal 2027 above 8%（0% (fiscal 2026)） |
| Payout ratio / DOE policy | A consolidated dividend payout ratio of at least 35% and consolidated DOE (dividend on equity) of at least 4%. The Company will continue to pay stable dividends and introduce interim dividends from the fiscal year ending March 2027. |
| Cost of capital | WACC estimated by the Company: approximately 6%; cost of equity: approximately 7% |
| Self-assessment of PBR and share price | The share price was ¥3,500 and PBR was 0.82x at the end of March 2026. PBR had remained at approximately 1.0x through early March 2026, but fell below 1.0x at the end of the fiscal year. The Company assessed that further improvement is necessary. |
| Total investment plan | ¥15-16 billion (cash allocation under Medium-Term Management Plan 2027) |
| Investment amount by sector | Field Business Investment / Amount ¥5-6 billion, Field M&A / Amount ¥5 billion |
| Segment target | Segment Precision Components Business / Fiscal 2026 planned net sales ¥27,500 million / Fiscal 2026 earnings forecast net sales ¥27,750 million / Fiscal 2026 planned operating profit ¥2,450 million / Fiscal 2026 earnings forecast operating profit ¥2,750 million, Segment Household Products Business / Fiscal 2026 planned net sales ¥9,000 million / Fiscal 2026 earnings forecast net sales ¥8,750 million / Fiscal 2026 planned operating profit ¥50 million / Fiscal 2026 earnings forecast operating profit ¥0 million, Segment Other Businesses / Fiscal 2026 planned net sales ¥500 million / Fiscal 2026 earnings forecast net sales ¥500 million / Fiscal 2026 planned operating profit ¥100 million / Fiscal 2026 earnings forecast operating profit ¥100 million |
| Plan assumptions | Exchange rates (average during the period): 149.98 for fiscal 2025 actual; 140.00 for the fiscal 2026 plan; 145.00 for the fiscal 2026 earnings forecast |
| Key initiatives | Implement initiatives based on Medium-Term Management Plan 2027, Promoting Management Focused on the Cost of Capital, Proactive Investment in Growth Areas, Enhance shareholder returns and capital policy, Strengthen IR activities, Enhance corporate governance |
| Results under the previous plan | Net Sales 33,500 / Operating profit 1,400 / Ordinary income 1,700 / Profit for the year attributable to owners of the parent 1,200 / ROE 4.0 → Net Sales 34,755 / Operating profit 1,586 / Ordinary income 1,979 / Profit for the year attributable to owners of the parent 2,311 / ROE 7.1 |
| Reason for revision or withdrawal | At the Board of Directors meeting held today, the Company analyzed and assessed the current situation and reconfirmed its policies and initiatives for improvement. PBR fell below 1.0x at the end of the fiscal year, indicating the need for further improvement. |
| Date of board resolution | 24 June 2026 |
| Publication date | 24 June 2026 |
Items this document does not state (6)
Operating profit margin targetROIC targetTreasury share acquisition policyNon-financial targetsSize of the Target MarketRisks 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.At the Board of Directors meeting held today, the Company analyzed and assessed the current situation and updated its policies and initiatives for improvement. The Company explained that, although it secured sales and profit levels above those set out in Medium-Term Management Plan 2027 for the fiscal year ending March 2026 and improved ROE to 7.1%, its PBR fell below 1.0x, indicating the need for further improvement.
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