Worth reading
69In focus
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
9
¥100 million (increase in consolidated operating profit from actual results for the fiscal year ending March 2026 to the target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedOperating profit+0.1%
基準 2,026Target2,029Hundreds of millions of yen
ROE+3.0pt
基準 2,026Target2,029％
ROIC+3.0pt
基準 2,026Target2,029％
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 plan5.4% (ROE target under the previous medium-term management plan) → 6.0% (actual ROE for the fiscal year ending March 2026)（11.1％）+37,418.5%Calculated from the two disclosed figures
Total investment planGrowth investment of ¥5 billion to ¥8 billion (FY2026-FY2028)
Investment amount by sectorField Growth investment (expansion and M&A) / Amount ¥5 billion to ¥8 billion, Field M&A Investment / Amount ¥5 billion, Field Capital expenditure / Amount Not disclosed, Field Research and Development / Amount Not disclosed, Field Human Capital Investment / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyProgressive dividend policy starting from a dividend of ¥74 per share. The payout ratio is targeted at 50% (FY2026-FY2028, based on adjusted profit excluding one-off gains and losses)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 policyPlans to repurchase ¥1 billion of shares over the 3-year period from FY2026 to FY2028
Cost of capitalCost of equity: approximately 7%; WACC: approximately 6%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 has remained below 1x, and the Company aims to achieve a PBR of 1x or higher by the fiscal year ending March 2029PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Business portfolio strategy
02M&A Strategy
03Regional and partnership strategy
04Human resources and organizational strategy
05DX Strategy
| Item | Details |
|---|---|
| Plan name | “Medium-Term Management Plan 2028” Beyond NEXUS |
| Plan period | FY2026-FY2028 (3 years) |
| Progress against the plan | Formulated |
| Operating profit target | ¥2.6 billion (actual results for the fiscal year ending March 2026) → ¥3.5 billion (target for the fiscal year ending March 2029)（34.6％） |
| ROE target | 6.0% (actual results for the fiscal year ending March 2026) → 8% or higher (target for the fiscal year ending March 2029)（At least 33.3%） |
| ROIC target | 4.7% (actual results for the fiscal year ending March 2026) → 7% or higher (target for the fiscal year ending March 2029)（At least 48.9%） |
| Payout ratio / DOE policy | Progressive dividend policy starting from a dividend of ¥74 per share. The payout ratio is targeted at 50% (FY2026-FY2028, based on adjusted profit excluding one-off gains and losses) |
| Treasury share acquisition policy | Plans to repurchase ¥1 billion of shares over the 3-year period from FY2026 to FY2028 |
| Cost of capital | Cost of equity: approximately 7%; WACC: approximately 6% |
| Self-assessment of PBR and share price | PBR has remained below 1x, and the Company aims to achieve a PBR of 1x or higher by the fiscal year ending March 2029 |
| Total investment plan | Growth investment of ¥5 billion to ¥8 billion (FY2026-FY2028) |
| Investment amount by sector | Field Growth investment (expansion and M&A) / Amount ¥5 billion to ¥8 billion, Field M&A Investment / Amount ¥5 billion, Field Capital expenditure / Amount Not disclosed, Field Research and Development / Amount Not disclosed, Field Human Capital Investment / Amount Not disclosed |
| Key initiatives | Business portfolio strategy, M&A Strategy, Regional and partnership strategy, Human resources and organizational strategy, DX Strategy |
| Results under the previous plan | 5.4% (ROE target under the previous medium-term management plan) → 6.0% (actual ROE for the fiscal year ending March 2026)（11.1％） |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (9)
Sales TargetOperating profit margin targetNet income targetSegment targetNon-financial targetsPlan assumptionsReason for revision or withdrawalSize 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.The Company recognizes that the market has not fully valued its future growth potential or the sustainability of its earnings, as its PBR has remained below 1x. It also states that ROE is below the cost of equity and ROIC is below WACC, making it necessary to improve capital efficiency and profitability.
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.