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How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+6.3%
基準 122,000Target129,700million
Operating profit+3.3%
基準 6,000Target6,200million
Operating profit margin-0.1pt
基準 4.9Target4.8％
Net income for the current fiscal year+3.6%
基準 3,600Target3,730million
ROE0.0pt
基準 6Target6%; latest actual: 6.0% for FY2025
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 planInitial plans for FY2024 and FY2025 → Actual results for FY2024 and FY20250.0%Calculated from the two disclosed figures
Total investment plan¥46 billion (¥16 billion in growth investments, ¥3 billion in environmental investments, and ¥27 billion in maintenance and renewal investments)
Investment amount by sectorField Growth Investment / Amount ¥16 billion, Field Environmental Investment / Amount ¥3 billion, Field Maintenance and renewal investments / Amount ¥27.0 billion
Statements about the use of capital
Payout ratio / DOE policyThe company will pay stable dividends, targeting a consolidated payout ratio of 30% and a consolidated dividend-on-equity ratio (DOE) of 2%. The applicable period is not specified.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share pricePBR has remained below 1x. PBR as of 31 March 2025 was 0.67x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Realizing sustainable mobility services
02Strengthening the real estate-related business domain
03Contributing to a prosperous quality of life
04Environmental strategy: Promoting carbon neutrality
05Human resources strategy: Enhancing human capital
06Digital strategy: Improving productivity through DX
07Autonomous bus demonstration project
08AI on-demand bus demonstration project
09Discussions with local governments on route restructuring
10MaaS
11Shift to Cashless Payments
12Fare revisions
13M&A transactions
14Launching the Besel brand of newly built detached homes
15Promoting the use of local resources and tourism partnerships
16Promoting health enhancement and creating opportunities for people to go out
17Full-scale operation of the EMS (energy management system)
18Expanding the use of renewable energy
19Strengthening recruitment and retention through improved compensation and expanded programs
20Strengthening integrated management of recruitment, development, and placement
21Expanding the recruitment of foreign nationals and promoting the utilization of diverse talent
22Promoting health management and enhancing support for employees
23Developing DX talent and securing specialized personnel
24Rolling out the use of generative AI across the Group and promoting business transformation
25Strengthening and advancing cybersecurity measures
26Establishing a Group-wide framework for promoting DX
Segment targetSegment Passenger transportation business / FY2026 net sales Initial plan: ¥57,700 million; earnings forecast: ¥59,870 million / FY2026 operating profit Initial plan: ¥2,100 million; earnings forecast: ¥2,240 million, Segment Real Estate Business / FY2026 net sales Initial plan: ¥12,400 million; earnings forecast: ¥10,250 million / FY2026 operating profit Initial plan: ¥2,300 million; earnings forecast: ¥1,980 million, Segment Automotive sales business / FY2026 net sales Initial plan: ¥34,600 million; earnings forecast: ¥41,930 million / FY2026 operating profit Initial plan: ¥500 million; earnings forecast: ¥1,050 million, Segment Other Businesses / FY2026 net sales Initial plan: ¥29,200 million; earnings forecast: ¥29,810 million / FY2026 operating profit Initial plan: ¥1,100 million; earnings forecast: ¥1,320 million
Non-financial targetsIndicator Fatalities and serious injuries / Target 0 fatalities and 0 serious injuries / Timing Fiscal 2026, Indicator Number of at-fault personal injury accidents / Target Reduce from the previous fiscal year / Timing Fiscal 2026, Indicator Number of drunk-driving incidents / Target 0 entries / Timing Fiscal 2026, Indicator CO2 emissions (versus FY2013) / Target △18％ / Timing Fiscal 2026, Indicator EV bus adoption rate / Target 1.5％ / Timing Fiscal 2026, Indicator Percentage of Female Managers / Target At least 7.0% / Timing Fiscal 2026, Indicator Parental leave uptake rate among male employees / Target 85.0％ / Timing Fiscal 2026, Indicator Paid leave utilization rate / Target 90.0％ / Timing Fiscal 2026, Indicator Rate of participation in specified health guidance / Target 60.0％ / Timing Fiscal 2026, Indicator Ratio of independent outside directors / Target More than half / Timing Fiscal 2026, Indicator Number of female directors / Target At least 1 / Timing Fiscal 2026, Indicator Number of material legal and regulatory violations / Target 0 entries / Timing Fiscal 2026
Risks identified by the company
Population decline, declining birthrate and population aging
Changes in lifestyles and workstyles
Soaring resource prices and other costs
Higher interest rates
Cyberattacks
Potential for large-scale disasters and other events
Driver shortages
Securing specialized personnel in real estate, digital operations, and other fields
Resilience measures against large-scale disasters and other events
Contributing to the response to climate change
Reason for revision or withdrawal
Plans are revised as needed in response to market changes, including soaring construction costs. Revisions to the condominium development plan and higher repair costs resulted in lower revenue and profit. Capital expenditures fluctuated due to a revised schedule for new rental properties and higher construction costs.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2024–FY2026) |
| Plan period | FY2024–FY2026 |
| Progress against the plan | Annual update |
| Sales Target | ¥122,000 million → ¥129,700 million（+6.3%） |
| Operating profit target | ¥6,000 million → ¥6,200 million（+3.3%） |
| Operating profit margin target | 4.9％ → 4.8％（△2.0％） |
| Net income target | ¥3,600 million → ¥3,730 million（+3.6%） |
| ROE target | 6.0％ → 6.0％（0％） |
| Payout ratio / DOE policy | The company will pay stable dividends, targeting a consolidated payout ratio of 30% and a consolidated dividend-on-equity ratio (DOE) of 2%. The applicable period is not specified. |
| Self-assessment of PBR and share price | PBR has remained below 1x. PBR as of 31 March 2025 was 0.67x. |
| Total investment plan | ¥46 billion (¥16 billion in growth investments, ¥3 billion in environmental investments, and ¥27 billion in maintenance and renewal investments) |
| Investment amount by sector | Field Growth Investment / Amount ¥16 billion, Field Environmental Investment / Amount ¥3 billion, Field Maintenance and renewal investments / Amount ¥27.0 billion |
| Segment target | Segment Passenger transportation business / FY2026 net sales Initial plan: ¥57,700 million; earnings forecast: ¥59,870 million / FY2026 operating profit Initial plan: ¥2,100 million; earnings forecast: ¥2,240 million, Segment Real Estate Business / FY2026 net sales Initial plan: ¥12,400 million; earnings forecast: ¥10,250 million / FY2026 operating profit Initial plan: ¥2,300 million; earnings forecast: ¥1,980 million, Segment Automotive sales business / FY2026 net sales Initial plan: ¥34,600 million; earnings forecast: ¥41,930 million / FY2026 operating profit Initial plan: ¥500 million; earnings forecast: ¥1,050 million, Segment Other Businesses / FY2026 net sales Initial plan: ¥29,200 million; earnings forecast: ¥29,810 million / FY2026 operating profit Initial plan: ¥1,100 million; earnings forecast: ¥1,320 million |
| Non-financial targets | Indicator Fatalities and serious injuries / Target 0 fatalities and 0 serious injuries / Timing Fiscal 2026, Indicator Number of at-fault personal injury accidents / Target Reduce from the previous fiscal year / Timing Fiscal 2026, Indicator Number of drunk-driving incidents / Target 0 entries / Timing Fiscal 2026, Indicator CO2 emissions (versus FY2013) / Target △18％ / Timing Fiscal 2026, Indicator EV bus adoption rate / Target 1.5％ / Timing Fiscal 2026, Indicator Percentage of Female Managers / Target At least 7.0% / Timing Fiscal 2026, Indicator Parental leave uptake rate among male employees / Target 85.0％ / Timing Fiscal 2026, Indicator Paid leave utilization rate / Target 90.0％ / Timing Fiscal 2026, Indicator Rate of participation in specified health guidance / Target 60.0％ / Timing Fiscal 2026, Indicator Ratio of independent outside directors / Target More than half / Timing Fiscal 2026, Indicator Number of female directors / Target At least 1 / Timing Fiscal 2026, Indicator Number of material legal and regulatory violations / Target 0 entries / Timing Fiscal 2026 |
| Key initiatives | Realizing sustainable mobility services, Strengthening the real estate-related business domain, Contributing to a prosperous quality of life, Environmental strategy: Promoting carbon neutrality, Human resources strategy: Enhancing human capital, Digital strategy: Improving productivity through DX, Autonomous bus demonstration project, AI on-demand bus demonstration project, Discussions with local governments on route restructuring, MaaS, Shift to Cashless Payments, Fare revisions, M&A transactions, Launching the Besel brand of newly built detached homes, Promoting the use of local resources and tourism partnerships, Promoting health enhancement and creating opportunities for people to go out, Full-scale operation of the EMS (energy management system), Expanding the use of renewable energy, Strengthening recruitment and retention through improved compensation and expanded programs, Strengthening integrated management of recruitment, development, and placement, Expanding the recruitment of foreign nationals and promoting the utilization of diverse talent, Promoting health management and enhancing support for employees, Developing DX talent and securing specialized personnel, Rolling out the use of generative AI across the Group and promoting business transformation, Strengthening and advancing cybersecurity measures, Establishing a Group-wide framework for promoting DX |
| Results under the previous plan | Initial plans for FY2024 and FY2025 → Actual results for FY2024 and FY2025 |
| Reason for revision or withdrawal | Plans are revised as needed in response to market changes, including soaring construction costs. Revisions to the condominium development plan and higher repair costs resulted in lower revenue and profit. Capital expenditures fluctuated due to a revised schedule for new rental properties and higher construction costs. |
| Risks identified | Population decline, declining birthrate and population aging, Changes in lifestyles and workstyles, Soaring resource prices and other costs, Higher interest rates, Cyberattacks, Potential for large-scale disasters and other events, Driver shortages, Securing specialized personnel in real estate, digital operations, and other fields, Resilience measures against large-scale disasters and other events, Contributing to the response to climate change |
| Publication date | 28 April 2026 |
Items this document does not state (6)
ROIC targetTreasury share acquisition policyCost of capitalPlan assumptionsSize 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.In addition to growth investments aimed at future growth, the company will invest in the maintenance and renewal of facilities and other assets whose replacement had been deferred during the COVID-19 pandemic. By business, the reasons include higher compensation for senior welfare passes and other factors in the passenger transportation business; revisions to the condominium development plan, higher repair costs, a revised schedule for new rental properties, and higher construction costs in the real estate business; increased unit sales and vehicle maintenance revenue in the automotive sales business; and higher order volumes and other factors in the other businesses.
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