Worth reading
64In 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
158
¥ millions (increase in operating profit from FY2025 actual results to the FY2028 plan)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+6.7%
基準 13,118Target14,000million
Operating profit+0.1%
基準 2,026Target2,028million
ROE+3.0pt
基準 2,025Target2,028%
ROIC+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 planPayout ratio of at least 40% (final-year target under Medium-Term Management Plan 2023 NEXT) → 48.8% (FY2025 actual)（22% or higher）+0.1%Calculated from the two disclosed figures
Investment amount by sectorField Logistics centre investment, including semi-automation / Amount Approximately ¥500–800 million, Field M&A and Alliances / Amount Approximately ¥300–500 million
Statements about the use of capital
Payout ratio / DOE policyDuring FY2026–FY2028, the company will continue stable shareholder returns based on its dividend track record while investing in growth areas and maintaining a stable financial foundation. A new numerical target for the payout ratio and DOE is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceImproving the PBR is an issue. A numerical assessment of the PBR is Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Expanding new sales channels and new revenue, including events
02Developing new businesses, including the umbrella business
03Strengthening the e-commerce business
04Digital strategy, including digital marketing
Plan assumptionsGeopolitical risk, Yen depreciation and foreign exchange, Wage increases and social security, Declining birth rate and aging population, Global warming, including extremely hot summers and warm winters, Acceleration of digitalisation and AI, Transportation issues
Size of the Target MarketMarket Japan's umbrella market: approximately ¥150 billion / Growth rate Not disclosed / Other More than approximately 30 players. About 7 times the size of the handkerchief market. / Source Not disclosed
Risks identified by the company
Geopolitical risk
Yen depreciation and foreign exchange
Wage increases and social security
Declining birth rate and aging population
Global warming, including extremely hot summers and warm winters
Acceleration of digitalisation and AI
Transportation issues
Climate Change
Cyberattacks
Social media backlash and information risks
Reason for revision or withdrawal
To address issues including store closures and reduced sales space in major sales channels, securing profitability at directly operated stores, securing sales personnel and managing selling, general and administrative expenses, addressing costs arising from foreign exchange movements and higher raw material prices, shifting to the use of digital technologies, improving ROA, ROE and ROIC, and improving the PBR.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2026 |
| Plan period | April 2026–March 2029 (FY2026–FY2028) |
| Progress against the plan | Formulated |
| Sales Target | 13,036 (FY2025 actual) / 13,118 (FY2026 forecast) → 14,000 (FY2028 plan)（Approximately 7.4% / approximately 6.7%） |
| Operating profit target | 192 (FY2025 actual) / 215 (FY2026 forecast) → 350 (FY2028 plan)（Approximately 82.3% / approximately 62.8%） |
| ROE target | 2.5% (FY2025 actual) → 5.5% (FY2028 plan)（120%） |
| ROIC target | 1.4% (FY2025 actual) → 3.5% (FY2028 plan)（150%） |
| Payout ratio / DOE policy | During FY2026–FY2028, the company will continue stable shareholder returns based on its dividend track record while investing in growth areas and maintaining a stable financial foundation. A new numerical target for the payout ratio and DOE is Not disclosed. |
| Self-assessment of PBR and share price | Improving the PBR is an issue. A numerical assessment of the PBR is Not disclosed. |
| Investment amount by sector | Field Logistics centre investment, including semi-automation / Amount Approximately ¥500–800 million, Field M&A and Alliances / Amount Approximately ¥300–500 million |
| Plan assumptions | Geopolitical risk, Yen depreciation and foreign exchange, Wage increases and social security, Declining birth rate and aging population, Global warming, including extremely hot summers and warm winters, Acceleration of digitalisation and AI, Transportation issues |
| Key initiatives | Expanding new sales channels and new revenue, including events, Developing new businesses, including the umbrella business, Strengthening the e-commerce business, Digital strategy, including digital marketing |
| Results under the previous plan | Payout ratio of at least 40% (final-year target under Medium-Term Management Plan 2023 NEXT) → 48.8% (FY2025 actual)（22% or higher） |
| Reason for revision or withdrawal | To address issues including store closures and reduced sales space in major sales channels, securing profitability at directly operated stores, securing sales personnel and managing selling, general and administrative expenses, addressing costs arising from foreign exchange movements and higher raw material prices, shifting to the use of digital technologies, improving ROA, ROE and ROIC, and improving the PBR. |
| Size of the Target Market | Market Japan's umbrella market: approximately ¥150 billion / Growth rate Not disclosed / Other More than approximately 30 players. About 7 times the size of the handkerchief market. / Source Not disclosed |
| Risks identified | Geopolitical risk, Yen depreciation and foreign exchange, Wage increases and social security, Declining birth rate and aging population, Global warming, including extremely hot summers and warm winters, Acceleration of digitalisation and AI, Transportation issues, Climate Change, Cyberattacks, Social media backlash and information risks |
| Publication date | 8 June 2026 |
Items this document does not state (8)
Operating profit margin targetNet income targetTreasury share acquisition policyCost of capitalTotal investment planSegment targetNon-financial targetsDate 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.To address issues identified under the previous plan, including responding to changes in the external environment, expanding sales and earnings, store closures and reduced sales space in major sales channels, foreign exchange movements and higher raw material costs, rising selling, general and administrative expenses, and the promotion of digitalisation.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.