Worth reading
32Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
2.1
Percentage points (free-float ratio)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateStatements about the use of capital
Self-assessment of PBR and share priceAlthough the company stated that it would take the impact on share price formation into account, no numerical assessment of PBR or the share price level was disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Work to improve the tradable share ratio through discussions with the parent company
02Continue discussions with the parent company on measures to increase the tradable share ratio
03Implement measures to gradually improve the tradable share ratio by 31 March 2031
Plan assumptionsSupplying the required shares to the market over a short period would have a significant adverse effect on share price formation. The plan does not take into account whether or when stock options will be exercised or when directors will sell shares in the market after exercise, as these matters are difficult to forecast.
Non-financial targetsMeet the 35.0% tradable share ratio standard; end of the plan period: 31 March 2031
Risks identified by the company
The adverse effect on share price formation of supplying the required shares to the market over a short period
The difficulty of forecasting whether and when stock options will be exercised and when directors will sell shares in the market after exercise
| Item | Details |
|---|---|
| Plan name | Plan to meet the listing maintenance criteria (tradable share ratio) |
| Plan period | Starting fiscal year Not disclosed / Final year 31 March 2031 |
| Progress against the plan | Annual update |
| Self-assessment of PBR and share price | Although the company stated that it would take the impact on share price formation into account, no numerical assessment of PBR or the share price level was disclosed. |
| Non-financial targets | Meet the 35.0% tradable share ratio standard; end of the plan period: 31 March 2031 |
| Plan assumptions | Supplying the required shares to the market over a short period would have a significant adverse effect on share price formation. The plan does not take into account whether or when stock options will be exercised or when directors will sell shares in the market after exercise, as these matters are difficult to forecast. |
| Key initiatives | Work to improve the tradable share ratio through discussions with the parent company, Continue discussions with the parent company on measures to increase the tradable share ratio, Implement measures to gradually improve the tradable share ratio by 31 March 2031 |
| Risks identified | The adverse effect on share price formation of supplying the required shares to the market over a short period, The difficulty of forecasting whether and when stock options will be exercised and when directors will sell shares in the market after exercise |
| Publication date | 29 June 2026 |
Items this document does not state (16)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetResults under the previous planReason for revision or withdrawalSize of the Target MarketDate 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.The improvement in the tradable share ratio was mainly due to the additional secondary offering under an over-allotment. The company stated that supplying the required shares to the market over a short period would have a significant adverse effect on share price formation, and that it would therefore take the impact on the share price into account and gradually improve the ratio by 31 March 2031.
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.