Worth reading
54Recurring
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
2
years extendedWording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet SalesNot disclosed → ¥14.0 billion
Operating profitNot disclosed → ¥2.5 billion
ROENot disclosed → More than 15%
Only the target level is shown because the current level for comparison was not provided.Statements about the use of capital
Payout ratio / DOE policyThe consolidated dividend payout ratio is targeted at 35% or more. Progressive dividends will be the basic policy during the medium-term management plan period.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalThe cost of shareholders' equity is recognized as approximately 6–8%.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 has been maintained steadily above 1x. PBR was 2.3x and the share price at the fiscal year-end was ¥1,248 in the fiscal year ending March 2026.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01To improve profitability, promote revenue and profit growth through the construction of new factories, mainly in Central and Eastern Japan, and quantitative expansion through the enhancement of resource-recycling plants.
02Promote enhancement of corporate value through the sustainability strategy (ESG).
03Reduce business risks, including through enhanced ESG initiatives, and strengthen disclosure of non-financial information.
Plan assumptionsChanges in the business environment due to rising construction and logistics costs, among other factors; some delays in obtaining permits and approvals for new factories; revisions to factory designs and opening areas; and longer construction periods.
Risks identified by the company
Business risks (promote reductions through enhanced ESG initiatives, among other measures)
Reason for revision or withdrawal
The business environment has changed significantly due to rising construction and logistics costs, among other factors. As a result of revisions to factory designs and opening areas, longer construction periods and other factors, some delays are expected in obtaining the permits and approvals for the new factories originally planned.
| Item | Details |
|---|---|
| Plan name | Fuluhashi Sustainable Plan 80th |
| Plan period | Medium-term management plan ending in the fiscal year ending March 2030 (period extended by 2 years) |
| Progress against the plan | Partially revised |
| Sales Target | Not disclosed → ¥14.0 billion |
| Operating profit target | Not disclosed → ¥2.5 billion |
| ROE target | Not disclosed → More than 15% |
| Payout ratio / DOE policy | The consolidated dividend payout ratio is targeted at 35% or more. Progressive dividends will be the basic policy during the medium-term management plan period. |
| Cost of capital | The cost of shareholders' equity is recognized as approximately 6–8%. |
| Self-assessment of PBR and share price | The PBR has been maintained steadily above 1x. PBR was 2.3x and the share price at the fiscal year-end was ¥1,248 in the fiscal year ending March 2026. |
| Plan assumptions | Changes in the business environment due to rising construction and logistics costs, among other factors; some delays in obtaining permits and approvals for new factories; revisions to factory designs and opening areas; and longer construction periods. |
| Key initiatives | To improve profitability, promote revenue and profit growth through the construction of new factories, mainly in Central and Eastern Japan, and quantitative expansion through the enhancement of resource-recycling plants., Promote enhancement of corporate value through the sustainability strategy (ESG)., Reduce business risks, including through enhanced ESG initiatives, and strengthen disclosure of non-financial information. |
| Reason for revision or withdrawal | The business environment has changed significantly due to rising construction and logistics costs, among other factors. As a result of revisions to factory designs and opening areas, longer construction periods and other factors, some delays are expected in obtaining the permits and approvals for the new factories originally planned. |
| Risks identified | Business risks (promote reductions through enhanced ESG initiatives, among other measures) |
| Date of board resolution | 13 May 2026 |
| Publication date | 13 May 2026 |
Items this document does not state (10)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planSize 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 business environment has changed significantly due to rising construction and logistics costs, among other factors. As a result of revisions to factory designs and opening areas, longer construction periods and other factors, some delays are expected in obtaining the permits and approvals for the new factories originally planned.
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.