Worth reading
52Recurring
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
150
Consolidated ordinary profit (¥100 million)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateROE+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).
What happened to the previous planConsolidated ordinary profit above ¥10 billion and ROE above 5% → Consolidated ordinary profit of ¥14.9 billion and ROE of 7.8% (FY2025 actual)+20,150.0%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyDuring the period of the Eighth Medium-Term Management Plan, from FY2026 through FY2028, the company aims for a total payout ratio of 100% until it achieves ROE of 8%. The dividend payout ratio will be approximately 70%.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 policyDuring the period of the Eighth Medium-Term Management Plan, until it achieves ROE of 8%, the company will flexibly implement dividend payments and share buybacks, with the aim of achieving a total payout ratio of 100%.
Cost of capitalLow 6% rangeThe cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceExcept for a brief period in April 2025, when uncertainty about the economic impact of U.S. tariff policy spread, the PBR has remained stable above 1x. Total shareholder return (TSR) has also remained stable at a level significantly above the TOPIX.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Stable operation of, and improved convenience in, securities lending and borrowing transaction services
02Expansion of the securities finance business, centered on further strengthening securities lending
03Enhancement of the company's presence and recognition in overseas markets
04Business innovation and operational efficiency through the use of digital technologies
05Strengthening group-wide consolidated management
06Strengthening the foundation of human resources capabilities
Risks identified by the company
Financial Risks
Business strategy risks
Impact of stock market conditions
Impact of interest rate fluctuations
Uncertainty about the outlook arising from the impact of U.S. tariff policy on the economy
Reason for revision or withdrawal
In November 2025, the company reviewed its long-term management outlook in light of changes in the business environment surrounding the company and steady progress in strengthening its earnings base.
| Item | Details |
|---|---|
| Plan name | Eighth Medium-Term Management Plan |
| Plan period | 3 years from FY2026 through FY2028 |
| Progress against the plan | Annual update |
| ROE target | 7.8% (FY2025 actual) → 8% (FY2028 target) |
| Payout ratio / DOE policy | During the period of the Eighth Medium-Term Management Plan, from FY2026 through FY2028, the company aims for a total payout ratio of 100% until it achieves ROE of 8%. The dividend payout ratio will be approximately 70%. |
| Treasury share acquisition policy | During the period of the Eighth Medium-Term Management Plan, until it achieves ROE of 8%, the company will flexibly implement dividend payments and share buybacks, with the aim of achieving a total payout ratio of 100%. |
| Cost of capital | Low 6% range |
| Self-assessment of PBR and share price | Except for a brief period in April 2025, when uncertainty about the economic impact of U.S. tariff policy spread, the PBR has remained stable above 1x. Total shareholder return (TSR) has also remained stable at a level significantly above the TOPIX. |
| Key initiatives | Stable operation of, and improved convenience in, securities lending and borrowing transaction services, Expansion of the securities finance business, centered on further strengthening securities lending, Enhancement of the company's presence and recognition in overseas markets, Business innovation and operational efficiency through the use of digital technologies, Strengthening group-wide consolidated management, Strengthening the foundation of human resources capabilities |
| Results under the previous plan | Consolidated ordinary profit above ¥10 billion and ROE above 5% → Consolidated ordinary profit of ¥14.9 billion and ROE of 7.8% (FY2025 actual) |
| Reason for revision or withdrawal | In November 2025, the company reviewed its long-term management outlook in light of changes in the business environment surrounding the company and steady progress in strengthening its earnings base. |
| Risks identified | Financial Risks, Business strategy risks, Impact of stock market conditions, Impact of interest rate fluctuations, Uncertainty about the outlook arising from the impact of U.S. tariff policy on the economy |
| Date of board resolution | 14 May 2026 |
| Publication date | 14 May 2026 |
Items this document does not state (11)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsSize 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.The company compiled an update as of May 2026 on the matters requested by the Tokyo Stock Exchange. In light of steady progress in adapting to changes in the business environment and strengthening the earnings base, it also reviewed its long-term management outlook.
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.