Worth reading
59In 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
—
Displayed only when the document provides numerical figures.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 plan¥249.091 billion (assets under custody, as of the end of March 2025) / 5.1% (ROE, as of the end of March 2025) → Not disclosed
Statements about the use of capital
Treasury share acquisition policyAcquired 258,900 treasury shares on 3 August 2026. The total acquisition cost was ¥511,327,500, and the acquisition method was an off-auction purchase transaction on the Tokyo Stock Exchange (ToSTNeT-3).
Cost of capitalThe cost of shareholders' equity is recognized as approximately 5% to 7%. The CAPM-based estimate was approximately 5.4% as of the end of March 2026.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe PBR at the end of the fiscal year ended March 2026 was 0.84x, below 1x. At the end of September 2026, after the treasury share acquisition, the PBR was 0.98x and the share price was ¥2,111. The company aims to establish and further improve a PBR above 1x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Advancement of asset management
02Strengthening support for asset building
03Smooth intergenerational transfer of assets
Plan assumptionsPersonal financial assets of more than ¥2,200 trillion, changes in the global situation, the need for asset building, and the progression of the declining birthrate and aging population.
Size of the Target MarketPersonal financial assets of more than ¥2,200 trillion. No source is cited.
Risks identified by the company
Changes in the global situation
Progressive birthrate decline and population aging
Ongoing monitoring of the cost of capital and share price
Reason for revision or withdrawal
The company analyzed and evaluated the current situation and updated the content concerning the measures disclosed on 30 October 2025.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (announced on 30 October 2025) |
| Plan period | April 2025 to March 2028 |
| Progress against the plan | Annual update |
| ROE target | 5.1% (actual as of the end of March 2025) → At least 8% (as of the end of March 2028)（Approximately 56.9% or more） |
| Treasury share acquisition policy | Acquired 258,900 treasury shares on 3 August 2026. The total acquisition cost was ¥511,327,500, and the acquisition method was an off-auction purchase transaction on the Tokyo Stock Exchange (ToSTNeT-3). |
| Cost of capital | The cost of shareholders' equity is recognized as approximately 5% to 7%. The CAPM-based estimate was approximately 5.4% as of the end of March 2026. |
| Self-assessment of PBR and share price | The PBR at the end of the fiscal year ended March 2026 was 0.84x, below 1x. At the end of September 2026, after the treasury share acquisition, the PBR was 0.98x and the share price was ¥2,111. The company aims to establish and further improve a PBR above 1x. |
| Plan assumptions | Personal financial assets of more than ¥2,200 trillion, changes in the global situation, the need for asset building, and the progression of the declining birthrate and aging population. |
| Key initiatives | Advancement of asset management, Strengthening support for asset building, Smooth intergenerational transfer of assets |
| Results under the previous plan | ¥249.091 billion (assets under custody, as of the end of March 2025) / 5.1% (ROE, as of the end of March 2025) → Not disclosed |
| Reason for revision or withdrawal | The company analyzed and evaluated the current situation and updated the content concerning the measures disclosed on 30 October 2025. |
| Size of the Target Market | Personal financial assets of more than ¥2,200 trillion. No source is cited. |
| Risks identified | Changes in the global situation, Progressive birthrate decline and population aging, Ongoing monitoring of the cost of capital and share price |
| Date of board resolution | 30 October 2026 |
| Publication date | 30 October 2026 |
Items this document does not state (10)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetPayout ratio / DOE policyTotal investment planInvestment amount by sectorSegment targetNon-financial targets
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 analyzed and evaluated the current situation and updated the content concerning the "Measures to Achieve Management That Is Conscious of the Cost of Capital and Share Price" disclosed on 30 October 2025. It aims to secure profitability on capital exceeding the cost of capital and establish and further improve a PBR above 1x.
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.