Worth reading
58In 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
45
¥100 million (consolidated net profit target for fiscal 2028)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedOperating profit+0.1%
基準 2,025Target2,028Hundreds of millions of yen
Net income for the current fiscal year+0.1%
基準 2,025Target2,028Hundreds of millions of yen
ROE+3.0pt
基準 2,025Target2,028%
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 planConsolidated net profit of ¥7.2 billion (cumulative target for fiscal years 2023–2025), ROE of at least 7%, and investments of ¥3.5–4.5 billion → Consolidated net profit of ¥9.5 billion (cumulative actual for fiscal years 2023–2025), ROE of 7.5%, 8.8% and 8.5%, and investments of ¥3.5 billion（Consolidated net profit increased by 31.9%）0.0%Calculated from the two disclosed figures
Investment amount by sectorField Growth Investment / Amount ¥10 billion (cumulative), Field Investment in Human Resources / Amount Approximately ¥1 billion
Statements about the use of capital
Payout ratio / DOE policyDuring the plan period (fiscal years 2026–2028), the company will generally maintain a consolidated dividend payout ratio of 50% and introduce progressive dividends. Annual dividends per share will start at ¥42. DOE: Not disclosed.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 conduct share buybacks flexibly, up to a maximum of ¥5 billion, including the ¥2.5 billion announced in February 2026.
Self-assessment of PBR and share priceNumerical data and an assessment of PBR and the share price level: Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Achieve discontinuous growth through business portfolio transformation, M&A and business investments
02Invest in talent that creates value and strengthen organizational capabilities that support new challenges
03Implement capital policies with a strong focus on the share price
Plan assumptionsDemand is expected to increase as India’s economy develops and its middle class expands, environmental regulations become more stringent, the manufacturing sector is promoted under the “Make in India” policy, and MLCC demand grows with the adoption and advancement of EVs, smartphones and IT equipment. Numerical assumptions: Not disclosed.
Risks identified by the company
Risks and uncertainties
Changes in various factors due to changes in the external environment and other factors
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan “PI2028” |
| Plan period | Fiscal years 2026-2028 |
| Progress against the plan | Formulated |
| Operating profit target | 41 (fiscal 2025 actual) → 55 (fiscal 2028 target)（34.1%） |
| Net income target | 33 (fiscal 2025 actual) → 45 (fiscal 2028 target)（36.4%） |
| ROE target | 8.5% (fiscal 2025 actual) → At least 10% (target at the end of fiscal 2028)（At least 17.6%） |
| Payout ratio / DOE policy | During the plan period (fiscal years 2026–2028), the company will generally maintain a consolidated dividend payout ratio of 50% and introduce progressive dividends. Annual dividends per share will start at ¥42. DOE: Not disclosed. |
| Treasury share acquisition policy | The company will conduct share buybacks flexibly, up to a maximum of ¥5 billion, including the ¥2.5 billion announced in February 2026. |
| Self-assessment of PBR and share price | Numerical data and an assessment of PBR and the share price level: Not disclosed. |
| Investment amount by sector | Field Growth Investment / Amount ¥10 billion (cumulative), Field Investment in Human Resources / Amount Approximately ¥1 billion |
| Plan assumptions | Demand is expected to increase as India’s economy develops and its middle class expands, environmental regulations become more stringent, the manufacturing sector is promoted under the “Make in India” policy, and MLCC demand grows with the adoption and advancement of EVs, smartphones and IT equipment. Numerical assumptions: Not disclosed. |
| Key initiatives | Achieve discontinuous growth through business portfolio transformation, M&A and business investments, Invest in talent that creates value and strengthen organizational capabilities that support new challenges, Implement capital policies with a strong focus on the share price |
| Results under the previous plan | Consolidated net profit of ¥7.2 billion (cumulative target for fiscal years 2023–2025), ROE of at least 7%, and investments of ¥3.5–4.5 billion → Consolidated net profit of ¥9.5 billion (cumulative actual for fiscal years 2023–2025), ROE of 7.5%, 8.8% and 8.5%, and investments of ¥3.5 billion（Consolidated net profit increased by 31.9%） |
| Risks identified | Risks and uncertainties, Changes in various factors due to changes in the external environment and other factors |
| Date of board resolution | 20 May 2026 |
| Publication date | 20 May 2026 |
Items this document does not state (9)
Sales TargetOperating profit margin targetROIC targetCost of capitalTotal investment planSegment targetNon-financial targetsReason for revision or withdrawalSize 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.To achieve discontinuous growth under PI2028, the company will pursue business portfolio transformation, M&A and business investments, human capital investments, and capital policies.
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.