Worth reading
37Immaterial
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
700
¥ million (DIP financing overdraft limit)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales-4.3%
基準 18,030Target17,263million
Operating profit+6.0%
基準 319Target338million
Operating profit margin+0.2pt
基準 1.8Target2%
Net income for the current fiscal year+31.1%
基準 132Target173million
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).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Key initiatives
01Fundamental review of the mobile business
02Improvement of the resort business
03Expense Reduction
04Seeking a sponsor and carrying out a third-party allotment of shares
05DIP financing
06Strengthening the governance structure
Plan assumptionsFor the fiscal year ending April 2028, the sale of real estate is assumed to take place at the end of the preceding fiscal year
Risks identified by the company
The possibility of delisting depending on future developments
The possibility that changes or revisions necessary for this reconstruction plan will be made during future corporate reorganization proceedings
If the company is determined to be insolvent as a result of the asset valuation, the possibility that a partial waiver of financial institutions’ claims or a debt-equity swap will be implemented
The possibility that no agreement will be reached with a sponsor and the third-party allotment of shares will not be carried out
The possibility that the value of existing issued shares will be diluted through a third-party allotment of shares to a sponsor or other party, within a dilution rate of no more than 300%
The possibility that the necessary consent of reorganization creditors, reorganization secured creditors and shareholders will not be obtained for the proposed reorganization plan
| Item | Details |
|---|---|
| Plan name | TOSHIN HOLDINGS CO.,LTD Reconstruction Plan |
| Plan period | Fiscal years ending April 2027 to April 2029 (earnings outlook; repayment of loan obligations over 15 years) |
| Progress against the plan | Formulated |
| Sales Target | ¥18,030 million → ¥17,263 million |
| Operating profit target | ¥319 million → ¥338 million |
| Operating profit margin target | 1.8% → 2.0% |
| Net income target | ¥132 million → ¥173 million |
| Plan assumptions | For the fiscal year ending April 2028, the sale of real estate is assumed to take place at the end of the preceding fiscal year |
| Key initiatives | Fundamental review of the mobile business, Improvement of the resort business, Expense Reduction, Seeking a sponsor and carrying out a third-party allotment of shares, DIP financing, Strengthening the governance structure |
| Risks identified | The possibility of delisting depending on future developments, The possibility that changes or revisions necessary for this reconstruction plan will be made during future corporate reorganization proceedings, If the company is determined to be insolvent as a result of the asset valuation, the possibility that a partial waiver of financial institutions’ claims or a debt-equity swap will be implemented, The possibility that no agreement will be reached with a sponsor and the third-party allotment of shares will not be carried out, The possibility that the value of existing issued shares will be diluted through a third-party allotment of shares to a sponsor or other party, within a dilution rate of no more than 300%, The possibility that the necessary consent of reorganization creditors, reorganization secured creditors and shareholders will not be obtained for the proposed reorganization plan |
| Publication date | 8 May 2026 |
Items this document does not state (14)
ROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planReason for revision or withdrawalSize 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.To stabilize management and improve the company’s financial position. In response to governance issues arising from an accounting scandal at a subsidiary, breaches of covenants in loan agreements caused by corrections to financial results, and requests from financial institutions to defer repayments, the company aims to stabilize its governance structure and financial position while preventing further impairment of business value.
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.