Management reform to achieve target management metrics and ensure survival
First written in FY2016. 14 of 23 entries say "Restated". Latest entry: 2026-11-05.
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- FY2026-H1RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the interim consolidated accounting period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2025RestatedAnnual report
「The Group aims to achieve net income of at least ¥200 million, ROE of 5%, ROA of 3% and ROIC of 5% on a sustained basis by the fiscal year ending March 2028, while continuing to analyze and evaluate its performance and pursue achievement within the period.」
The Group reconfirms the four targets for net income, ROE, ROA and ROIC through the fiscal year ending March 2028, together with its policy of continuing to analyze and evaluate progress toward achievement. - FY2025-H1RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the interim consolidated accounting period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2024-Q3RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative third-quarter period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2024-Q2RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative second-quarter period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2023ReframedAnnual report
「The Group has newly established target management metrics for five years from fiscal 2023 and set targets for four metrics: net income, ROE, ROA and ROIC. This reflects a greater focus on stock-market valuation and achieving returns on capital above the cost of capital, and the Group aims to achieve the targets within the period while continuing to analyze and evaluate its performance. As target management metrics through the fiscal year ending March 2028, the Group aims to achieve net income of at least ¥200 million, ROE of 5%, ROA of 3% and ROIC of 5% on a sustained basis.」
The framework was restructured from the previous six metrics to four metrics: net income, ROE, ROA and ROIC, with specific targets set for the five years from fiscal 2023 through the fiscal year ending March 2028. The framework now places greater emphasis on achieving returns on capital above the cost of capital. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative third-quarter period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2022SoftenedAnnual report
「The Group has established six target management metrics: net sales, operating profit, net income, ROE, ROA and ROIC, and aims to maximize corporate value by expanding earnings power and improving capital efficiency. The specific target figures are currently under review and will be reconsidered in light of recent changes in the operating environment, with early disclosure planned after the review.」
The framework of six metrics is being maintained, but the specific target figures have been withdrawn for the time being and are under review, with only a plan for early disclosure after reconsideration. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative second-quarter period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2021SoftenedAnnual report
「The Group had formulated a medium-term management plan through the fiscal year ending March 2022 and established achievement targets for the six metrics in (2) above, but is reviewing the target figures and reconsidering the plan figures because the impact of the spread of infectious diseases since the previous year has persisted. It is reconsidering the plan figures while carefully assessing the future impact of infectious diseases on the paper market.」
For the medium-term management plan through the fiscal year ending March 2022, the Group is reviewing the target figures and reconsidering the plan figures because the impact of infectious diseases has persisted. As in the previous fiscal year, the assumptions underlying achievement of the plan have weakened. - FY2021-Q2RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative second-quarter period.」
Reconfirmed that there had been no material change to the management policies and strategies. - FY2021-Q1RestatedAnnual report
「There have been no material changes to the Group’s management policies, management strategies or other related matters during the cumulative first-quarter period.」
The Group reconfirmed that there had been no material changes to its management policies, management strategies or related matters. - FY2020SoftenedAnnual report
「The Group has formulated a medium-term management plan through the fiscal year ending March 2022, targeting net sales of ¥17 billion, operating profit of ¥200 million, net income of ¥150 million, ROE of 5%, ROA of 3% and ROIC of 5%, but is reviewing the plan while carefully assessing the future impact of infectious diseases on the paper market.」
The Group changed the plan period from the previous plan through the fiscal year ending March 2021 to one through the fiscal year ending March 2022, and states that it will review the plan while assessing the impact of infectious diseases. The target figures remain unchanged, but the plan for achieving them is now subject to review. - FY2020-Q3RestatedAnnual report
「Under these circumstances, the Group has continued sales activities tailored closely to customer needs under a medium-term management plan beginning in the current fiscal year, working to secure its domestic sales share and maintain sales at appropriate prices.」
The Group continues to position the current fiscal year as the first year of the medium-term management plan, secure its domestic sales share and maintain sales at appropriate prices. No plan targets or new achievement milestones are disclosed. - FY2020-Q2RestatedAnnual report
「Under these circumstances, the Group has continued sales activities tailored closely to customer needs under a medium-term management plan beginning in the current fiscal year, working to secure its domestic sales share and maintain sales at appropriate prices.」
The Group continues to position the current fiscal year as the first year of the medium-term management plan and to pursue measures centered on customer service, securing domestic sales share and selling at appropriate prices. No new progress regarding the plan figures is disclosed. - FY2020-Q1RestatedAnnual report
「Under these circumstances, the Group has continued sales activities tailored closely to customer needs under a medium-term management plan beginning in the current fiscal year, working to secure its domestic sales share and maintain sales at appropriate prices.」
The Group reconfirms that the current fiscal year is the first year of the medium-term management plan, but provides no plan figures or new achievement milestones. - FY2019ReframedAnnual report
「The Group has established six target management metrics for the three years from fiscal 2019: net sales, operating profit, net income, ROE, ROA and ROIC. It aims to maximize corporate value by expanding earnings power and improving capital efficiency. The Group has formulated a medium-term management plan through the fiscal year ending March 2021, targeting net sales of ¥17 billion, operating profit of ¥200 million, net income of ¥150 million, ROE of 5%, ROA of 3% and ROIC of 5%.」
The Group restructured its target framework from the previous targets through the fiscal year ending March 2018 to a medium-term management plan covering three years from fiscal 2019 through the fiscal year ending March 2021, setting six metrics covering net sales, profit and capital efficiency, together with specific numerical targets. - FY2018Some targets achieved; ROE below targetAnnual report
「The Group has established the following target management metrics: ROE (return on equity): 5.0% or higher Interest-bearing debt: ¥500 million or less Equity ratio: 30.0% or higher At the end of the consolidated fiscal year, interest-bearing debt was ¥0 and the equity ratio was 36.6%, meaning both targets had been achieved, and the Group will continue working to maintain them. Meanwhile, ROE was 3.7%, which remains low, but the Group aims to achieve the target by further improving earnings from the perspective of capital efficiency.」
While the targets for interest-bearing debt and the equity ratio were achieved, ROE was 3.7% against the target of 5.0% or higher, and was explicitly identified as below target. - FY2017Specifying targetsAnnual report
「The Group has established the following target management metrics through the fiscal year ending March 2018: ROE (return on equity): 5.0% or higher; interest-bearing debt: ¥500 million or less; equity ratio: 30.0% or higher.」
The Group has translated its previous general policy of achieving target metrics into specific numerical targets for ROE, interest-bearing debt and the equity ratio through the fiscal year ending March 2018. - FY2016First statedAnnual report
「The Group will pursue reform of its robust management organization and structure to achieve its target management metrics and ensure its survival, and will maintain sound management amid this challenging environment.」
The Group sets out the achievement of its target metrics, organizational and management-structure reform, survival and sound management, without specifying metric targets or deadlines.