Worth reading
77Important
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
5000
¥100 million (FY2028 net business profit target)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 plan¥370 billion (FY2025 net business profit target under the previous plan) → ¥347.4 billion (FY2025 actual)0.0%Calculated from the two disclosed figures
Total investment plan¥600 billion or more (growth investment, cumulative total for the three years from FY2026 to FY2028, based on required capital converted into monetary terms)
Investment amount by sectorField Organic investment / Amount Not disclosed, Field Inorganic investment / Amount Not disclosed, Field Investment in the asset management business / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyDuring the FY2026–FY2028 medium-term plan period, the total payout ratio will be targeted at 50% or more. Dividends per share will be managed progressively and determined with reference to approximately 50% of adjusted net income, excluding gains and losses on the sale of cross-shareholdings. The DOE target 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.
Treasury share acquisition policyShare buybacks will be conducted flexibly, taking into account business performance, the capital position and the company’s share price. Shareholder returns during FY2026–FY2028 are expected to total approximately ¥600 billion, including share buybacks. For FY2026, share buybacks of at least ¥56.5 billion are envisioned.
Self-assessment of PBR and share priceThe company assesses that it achieved ahead of schedule its target of a PBR of at least 1.0x, which it had set as its desired position for FY2030.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Priority Theme I: Growth strategy — a business model characteristic of a trust banking group, centered on the asset management business
02Priority Theme II: Capital strategy
03Priority Theme III: Enhancement of the management platform
Plan assumptionsItem Bank of Japan policy rate / FY2025 0.75％ / FY2028 assumption 1.25％, Item Nikkei 225 (fiscal-year average) / FY2025 ¥46,000 / FY2028 assumption ¥56,000, Item Exchange rate: U.S. dollar/Japanese yen (fiscal-year average) / FY2025 ¥150 / FY2028 assumption ¥150
Non-financial targetsIndicator Front-office shift / Target value 30％ / Timing FY2028, Indicator Headcount reduction in middle- and back-office functions / Target value Approximately 30% / Timing FY2028
Risks identified by the company
Risks and uncertainties inherent in forward-looking statements concerning future business performance
Changes in the business environment
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| Operating profit target | ¥347.4 billion (FY2025 actual, net business profit) → ¥500 billion (FY2028 target, net business profit) |
| Net income target | ¥317.5 billion (FY2025 actual, net income attributable to owners of the parent) → ¥410 billion (FY2028 target, net income attributable to owners of the parent) |
| ROE target | 9.5% (FY2025 actual) → Approximately 11% (FY2028 target) |
| Payout ratio / DOE policy | During the FY2026–FY2028 medium-term plan period, the total payout ratio will be targeted at 50% or more. Dividends per share will be managed progressively and determined with reference to approximately 50% of adjusted net income, excluding gains and losses on the sale of cross-shareholdings. The DOE target is Not disclosed. |
| Treasury share acquisition policy | Share buybacks will be conducted flexibly, taking into account business performance, the capital position and the company’s share price. Shareholder returns during FY2026–FY2028 are expected to total approximately ¥600 billion, including share buybacks. For FY2026, share buybacks of at least ¥56.5 billion are envisioned. |
| Self-assessment of PBR and share price | The company assesses that it achieved ahead of schedule its target of a PBR of at least 1.0x, which it had set as its desired position for FY2030. |
| Total investment plan | ¥600 billion or more (growth investment, cumulative total for the three years from FY2026 to FY2028, based on required capital converted into monetary terms) |
| Investment amount by sector | Field Organic investment / Amount Not disclosed, Field Inorganic investment / Amount Not disclosed, Field Investment in the asset management business / Amount Not disclosed |
| Non-financial targets | Indicator Front-office shift / Target value 30％ / Timing FY2028, Indicator Headcount reduction in middle- and back-office functions / Target value Approximately 30% / Timing FY2028 |
| Plan assumptions | Item Bank of Japan policy rate / FY2025 0.75％ / FY2028 assumption 1.25％, Item Nikkei 225 (fiscal-year average) / FY2025 ¥46,000 / FY2028 assumption ¥56,000, Item Exchange rate: U.S. dollar/Japanese yen (fiscal-year average) / FY2025 ¥150 / FY2028 assumption ¥150 |
| Key initiatives | Priority Theme I: Growth strategy — a business model characteristic of a trust banking group, centered on the asset management business, Priority Theme II: Capital strategy, Priority Theme III: Enhancement of the management platform |
| Results under the previous plan | ¥370 billion (FY2025 net business profit target under the previous plan) → ¥347.4 billion (FY2025 actual) |
| Risks identified | Risks and uncertainties inherent in forward-looking statements concerning future business performance, Changes in the business environment |
| Publication date | 14 May 2026 |
Items this document does not state (8)
Sales TargetOperating profit margin targetROIC targetCost of capitalSegment targetReason 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 business environment surrounding the company is entering a major period of transition due to the shift to a world with interest rates, the need to respond to inflation, changes in demographics and social structures, and advances in AI technology.
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.