Worth reading
50Recurring
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
52679
¥ million (net sales target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+15.3%
基準 45,673Target52,679million
Operating profit+15.6%
基準 6,723Target7,770million
Operating profit margin+3.0pt
基準 2,026Target2,029％
Net income for the current fiscal year+12.5%
基準 4,696Target5,285million
ROE-2,016.0pt
基準 2,026Target10％
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 planROE of at least 8%, consolidated operating margin of at least 12%, and a target dividend payout ratio of 50% → ROE: 10.3% in 2024, 9.4% in 2025 and 8.7% in 2026. Operating margin: 16.6% in 2024, 15.3% in 2025 and 14.7% in 2026. Dividend payout ratio: 49.3%, 50.1% and 49.9%.+3,952.0%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyDividends will be paid with a target of the higher of a 50% dividend payout ratio or 3% DOE. The applicable period is the fiscal years ending March 2027 through March 2029.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalThe cost of equity is recognized as approximately 7% (calculated using CAPM).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 company aims to improve its PBR. To improve its PER, it plans to foster growth expectations and reduce the cost of equity. The current PBR is Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
011. Improve operating margin
02Continuously bring new products to market
03Review existing products, etc.
042. Shareholder returns
05Pay dividends based on the higher of a 50% dividend payout ratio or 3% DOE
063. Strengthen IR activities
07Disclose sustainability initiatives and non-financial information
08Prepare easy-to-understand IR presentation materials
09Actively hold investor briefings, small-group meetings, one-on-one meetings and other events
104. Strengthen ESG management
11Strengthen governance, including compliance with the revised Corporate Governance Code
12Disclose environmental data through responses to CDP and other initiatives
13Contribute to local communities
Plan assumptionsThe cost of equity is recognized as approximately 7% (calculated using CAPM). Forward-looking statements are based on the strategies, targets, premises or assumptions as of the announcement date. Numerical assumptions, including exchange rates, market growth rates and raw material prices, are Not disclosed.
Segment targetSegment name Electrical and piping materials / Sales Target 39,488 (plan for the fiscal year ending March 2029) / Operating profit target 6,459 (plan for the fiscal year ending March 2029), Segment name Wiring devices / Sales Target 9,324 (plan for the fiscal year ending March 2029) / Operating profit target 1,136 (plan for the fiscal year ending March 2029), Segment name Other regions / Sales Target 3,867 (plan for the fiscal year ending March 2029) / Operating profit target 774 (plan for the fiscal year ending March 2029)
Reason for revision or withdrawal
The company plans to review and roll forward the plan annually in order to respond rapidly to changes in the business environment.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2027 |
| Plan period | Fiscal years ending March 2027 through March 2029 (3 years) |
| Progress against the plan | Formulated |
| Sales Target | 45,673 (actual for the fiscal year ended March 2026) → 52,679 (plan for the fiscal year ending March 2029) |
| Operating profit target | 6,723 (actual for the fiscal year ended March 2026) → 7,770 (plan for the fiscal year ending March 2029) |
| Operating profit margin target | 14.7% (actual for the fiscal year ended March 2026) → 14.8% (plan for the fiscal year ending March 2029) |
| Net income target | 4,696 (actual for the fiscal year ended March 2026) → 5,285 (plan for the fiscal year ending March 2029) |
| ROE target | 8.7% (actual for the fiscal year ended March 2026) → 8%–10% or higher (target) |
| Payout ratio / DOE policy | Dividends will be paid with a target of the higher of a 50% dividend payout ratio or 3% DOE. The applicable period is the fiscal years ending March 2027 through March 2029. |
| Cost of capital | The cost of equity is recognized as approximately 7% (calculated using CAPM). |
| Self-assessment of PBR and share price | The company aims to improve its PBR. To improve its PER, it plans to foster growth expectations and reduce the cost of equity. The current PBR is Not disclosed. |
| Segment target | Segment name Electrical and piping materials / Sales Target 39,488 (plan for the fiscal year ending March 2029) / Operating profit target 6,459 (plan for the fiscal year ending March 2029), Segment name Wiring devices / Sales Target 9,324 (plan for the fiscal year ending March 2029) / Operating profit target 1,136 (plan for the fiscal year ending March 2029), Segment name Other regions / Sales Target 3,867 (plan for the fiscal year ending March 2029) / Operating profit target 774 (plan for the fiscal year ending March 2029) |
| Plan assumptions | The cost of equity is recognized as approximately 7% (calculated using CAPM). Forward-looking statements are based on the strategies, targets, premises or assumptions as of the announcement date. Numerical assumptions, including exchange rates, market growth rates and raw material prices, are Not disclosed. |
| Key initiatives | 1. Improve operating margin, Continuously bring new products to market, Review existing products, etc., 2. Shareholder returns, Pay dividends based on the higher of a 50% dividend payout ratio or 3% DOE, 3. Strengthen IR activities, Disclose sustainability initiatives and non-financial information, Prepare easy-to-understand IR presentation materials, Actively hold investor briefings, small-group meetings, one-on-one meetings and other events, 4. Strengthen ESG management, Strengthen governance, including compliance with the revised Corporate Governance Code, Disclose environmental data through responses to CDP and other initiatives, Contribute to local communities |
| Results under the previous plan | ROE of at least 8%, consolidated operating margin of at least 12%, and a target dividend payout ratio of 50% → ROE: 10.3% in 2024, 9.4% in 2025 and 8.7% in 2026. Operating margin: 16.6% in 2024, 15.3% in 2025 and 14.7% in 2026. Dividend payout ratio: 49.3%, 50.1% and 49.9%. |
| Reason for revision or withdrawal | The company plans to review and roll forward the plan annually in order to respond rapidly to changes in the business environment. |
| Date of board resolution | 23 July 2026 |
| Publication date | 23 July 2026 |
Items this document does not state (7)
ROIC targetTreasury share acquisition policyTotal investment planInvestment amount by sectorNon-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.To respond rapidly to changes in the business environment, the company plans to review and roll forward the plan annually. To maximize corporate value, it will continue launching new products, review existing products, and strengthen IR activities and ESG management.
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.