Worth reading
82Important
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
26200
¥100 million (total investment over fiscal years 2026–2030)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedOperating profit+16.2%
基準 1,980Target2,300100 million
ROE-1.8pt
基準 10.8Target9%
ROIC-1.0pt
基準 5Target4%
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 planMedium-Term Management Plan 2025 targets: transportation revenue ¥905 billion, operating profit ¥185 billion, profit contribution from the LD fields approximately 25%, vibrant workplace rate 77%, and GHG emissions of 1.39 million t-CO2 → Fiscal 2025 results: transportation revenue ¥947.9 billion, operating profit ¥198 billion, profit contribution from the LD fields 22%, vibrant workplace rate 87%, and GHG emissions of 1.64 million t-CO2 (estimate)0.0%Calculated from the two disclosed figures
Total investment planAmount ¥26,200 100 million / Period FY2026–FY2030
Investment amount by sectorField Growth Investment / Amount ¥11,700 100 million, Field Growth aimed at portfolio transformation / Amount ¥9,300 100 million, Field CX and productivity improvement to support mobility growth / Amount ¥2,400 100 million, Field Maintenance and replacement investments / Amount ¥12,600 100 million
Statements about the use of capital
Payout ratio / DOE policyDividend on equity (DOE) of approximately 3.5%. This policy applies to the period covered by Medium-Term Management Plan 2030.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 policyThe company will repurchase treasury shares when opportunities arise. The amount, timing and terms of the repurchases are Not disclosed.
Cost of capitalWACC: mid-3% range as of the present time.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Key initiatives
01① Transforming mobility into a safe, high-quality and sustainable service
02② Enhancing the sustainability and appeal of communities and regions
03③ Enhancing customer experience value through co-creation
04④ Capturing inbound demand
05⑤ Expanding business domains and creating new businesses for further growth
06Strengthening the management foundation (human resources strategy)
07Strengthening the management foundation (global environment)
08Strengthening the management foundation (governance)
Plan assumptionsCapturing inbound demand based on an era of 60 million international visitors to Japan (2030, government target), The number of international visitors to Japan will be 1.4 times the 2025 level in 2030 (Source: Japan National Tourism Organization (JNTO)), WACC is in the mid-3% range as of the present time
Segment targetSegment Mobility business / Operating profit target ¥1,125 100 million, Segment Mobility business / Transportation revenue target ¥10,700 100 million (including fare revisions), Segment Distribution Business / Operating profit target ¥215 100 million, Segment Real Estate Business / Operating profit target ¥850 100 million, Segment Travel and regional solutions business / Operating profit target ¥10 100 million, Segment Construction subsegment / Operating profit target ¥175 100 million, Segment Lifestyle services and infrastructure solutions / Operating profit target 1,350 / Percentage of operating profit 60％, Segment Infrastructure solutions / Number of JCLaaS business contracts received 30 cumulative contracts
Non-financial targetsIndicator name Inbound visitors to the Setouchi area / Target value +1.4 million (1.6x) / Timing 2030, versus 2025, Indicator name Key personnel promoting digital transformation / Target value 11,000 people / Timing FY2030, Indicator name Added value of human capital investment per employee / Target value +15% or more / Timing Fiscal 2030, versus fiscal 2024, Indicator name GHG Emissions / Target value ▲50％ / Timing Fiscal 2030, versus fiscal 2013, consolidated Scope 1 + 2, Indicator name Serious information security incidents / Target value Zero / Timing FY2030, Indicator name Train accidents resulting in customer fatalities or injuries / Target value Zero / Timing 2027, Indicator name Railway occupational accidents resulting in fatalities / Target value Zero / Timing 2027, Indicator name Engagement score / Target value Increase / Timing FY2030, Indicator name GHG emissions in 2035 / Target value ▲60％ / Timing 2035, versus fiscal 2013
Size of the Target MarketInternational visitors to Japan: 60 million in 2030 (government target), 1.4 times the 2025 level. Source: Japan National Tourism Organization (JNTO).
Risks identified by the company
Rising prices and interest rates
Rising construction costs
Population decline
Labor Shortages
Climate change and earthquake preparedness
Technological advances centered on AI
Changes in customer values
Increasing inbound demand and foreign labor
Aging regional infrastructure
Serious information security incidents
Human Rights Violation Risk
Organizational misconduct and compliance risks
Reason for revision or withdrawal
During the three years of Medium-Term Management Plan 2025, the company broadly achieved its medium-term targets in both financial and non-financial areas, entering a new management stage. Over the five years from the current fiscal year, it will pursue its next phase of growth through co-creation and challenges with various partners.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan 2030 |
| Plan period | Fiscal years 2026–2030 (five years from the current fiscal year) |
| Progress against the plan | Formulated |
| Operating profit target | ¥1,980 100 million → ¥2,300 100 million（+16.2%） |
| ROE target | 10.8 % → 9 %（-16.7%） |
| ROIC target | 5 % → 4 %（-20.0%） |
| Payout ratio / DOE policy | Dividend on equity (DOE) of approximately 3.5%. This policy applies to the period covered by Medium-Term Management Plan 2030. |
| Treasury share acquisition policy | The company will repurchase treasury shares when opportunities arise. The amount, timing and terms of the repurchases are Not disclosed. |
| Cost of capital | WACC: mid-3% range as of the present time. |
| Total investment plan | Amount ¥26,200 100 million / Period FY2026–FY2030 |
| Investment amount by sector | Field Growth Investment / Amount ¥11,700 100 million, Field Growth aimed at portfolio transformation / Amount ¥9,300 100 million, Field CX and productivity improvement to support mobility growth / Amount ¥2,400 100 million, Field Maintenance and replacement investments / Amount ¥12,600 100 million |
| Segment target | Segment Mobility business / Operating profit target ¥1,125 100 million, Segment Mobility business / Transportation revenue target ¥10,700 100 million (including fare revisions), Segment Distribution Business / Operating profit target ¥215 100 million, Segment Real Estate Business / Operating profit target ¥850 100 million, Segment Travel and regional solutions business / Operating profit target ¥10 100 million, Segment Construction subsegment / Operating profit target ¥175 100 million, Segment Lifestyle services and infrastructure solutions / Operating profit target 1,350 / Percentage of operating profit 60％, Segment Infrastructure solutions / Number of JCLaaS business contracts received 30 cumulative contracts |
| Non-financial targets | Indicator name Inbound visitors to the Setouchi area / Target value +1.4 million (1.6x) / Timing 2030, versus 2025, Indicator name Key personnel promoting digital transformation / Target value 11,000 people / Timing FY2030, Indicator name Added value of human capital investment per employee / Target value +15% or more / Timing Fiscal 2030, versus fiscal 2024, Indicator name GHG Emissions / Target value ▲50％ / Timing Fiscal 2030, versus fiscal 2013, consolidated Scope 1 + 2, Indicator name Serious information security incidents / Target value Zero / Timing FY2030, Indicator name Train accidents resulting in customer fatalities or injuries / Target value Zero / Timing 2027, Indicator name Railway occupational accidents resulting in fatalities / Target value Zero / Timing 2027, Indicator name Engagement score / Target value Increase / Timing FY2030, Indicator name GHG emissions in 2035 / Target value ▲60％ / Timing 2035, versus fiscal 2013 |
| Plan assumptions | Capturing inbound demand based on an era of 60 million international visitors to Japan (2030, government target), The number of international visitors to Japan will be 1.4 times the 2025 level in 2030 (Source: Japan National Tourism Organization (JNTO)), WACC is in the mid-3% range as of the present time |
| Key initiatives | ① Transforming mobility into a safe, high-quality and sustainable service, ② Enhancing the sustainability and appeal of communities and regions, ③ Enhancing customer experience value through co-creation, ④ Capturing inbound demand, ⑤ Expanding business domains and creating new businesses for further growth, Strengthening the management foundation (human resources strategy), Strengthening the management foundation (global environment), Strengthening the management foundation (governance) |
| Results under the previous plan | Medium-Term Management Plan 2025 targets: transportation revenue ¥905 billion, operating profit ¥185 billion, profit contribution from the LD fields approximately 25%, vibrant workplace rate 77%, and GHG emissions of 1.39 million t-CO2 → Fiscal 2025 results: transportation revenue ¥947.9 billion, operating profit ¥198 billion, profit contribution from the LD fields 22%, vibrant workplace rate 87%, and GHG emissions of 1.64 million t-CO2 (estimate) |
| Reason for revision or withdrawal | During the three years of Medium-Term Management Plan 2025, the company broadly achieved its medium-term targets in both financial and non-financial areas, entering a new management stage. Over the five years from the current fiscal year, it will pursue its next phase of growth through co-creation and challenges with various partners. |
| Size of the Target Market | International visitors to Japan: 60 million in 2030 (government target), 1.4 times the 2025 level. Source: Japan National Tourism Organization (JNTO). |
| Risks identified | Rising prices and interest rates, Rising construction costs, Population decline, Labor Shortages, Climate change and earthquake preparedness, Technological advances centered on AI, Changes in customer values, Increasing inbound demand and foreign labor, Aging regional infrastructure, Serious information security incidents, Human Rights Violation Risk, Organizational misconduct and compliance risks |
| Publication date | 30 April 2026 |
Items this document does not state (5)
Sales TargetOperating profit margin targetNet income targetSelf-assessment of PBR and share priceDate 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.During the three years of Medium-Term Management Plan 2025, the company worked to improve railway safety, open the Hokuriku Shinkansen extension, develop communities and strengthen its digital customer base, broadly achieving its medium-term targets in both financial and non-financial areas. In addition, in light of changes in the business environment, including rising prices and interest rates, population decline, labor shortages and climate change, the company stated that it would pursue co-creation and take on challenges aimed at its next phase of growth.
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