Worth reading
41Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
2.2
ROE (%; FY2028 target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedROE+1.4pt
基準 0.78Target2.2% (change in percentage points; change_rate in %)
ROIC+0.8pt
基準 0.46Target1.3% (change in percentage points; change_rate in %)
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).
Statements about the use of capital
Payout ratio / DOE policyThe Company will continue considering share buybacks and dividend increases. Numerical targets and the applicable period are Not disclosed.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 policyReturn profits to shareholders while maintaining an appropriate level of equity and ensuring financial soundness. The acquisition limit, timing and conditions are Not disclosed.
Cost of capitalCost of equity: 4.43%; WACC: approximately 3.00% (weighted average: 2.96%).The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share pricePBR is approximately 0.4x, below 1x, and the Company has not received sufficient recognition from the stock market. The Company has not sufficiently communicated its business and growth strategy to the market and has not received sufficient recognition for its future growth.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Increase sales by further deepening existing business relationships and developing new ones
02Improve gross margin by increasing sales of high-value-added products
03Raise operating profit through appropriate control of selling, general and administrative expenses
04Return profits to shareholders while maintaining an appropriate level of equity and ensuring financial soundness
05Using specialty paper as its foundation, focus on expanding the range of specialty materials handled beyond paper
06Proactively communicate the Company's value in the paper distribution sector and its competitive advantages in environmentally conscious businesses
Reason for revision or withdrawal
ROE is significantly below the cost of equity, ROIC has not reached the cost of capital, and PBR is approximately 0.4x, indicating that the Company has not received sufficient recognition from the stock market. The Company has not sufficiently communicated its business and growth strategy to the market and has not received sufficient recognition for future growth that is reflected in its share price.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | FY2026-FY2028 |
| Progress against the plan | Formulated |
| ROE target | 0.78 % (change in percentage points; change_rate in %) → 2.2 % (change in percentage points; change_rate in %)（+182.1%） |
| ROIC target | 0.46 % (change in percentage points; change_rate in %) → 1.3 % (change in percentage points; change_rate in %)（+182.6%） |
| Payout ratio / DOE policy | The Company will continue considering share buybacks and dividend increases. Numerical targets and the applicable period are Not disclosed. |
| Treasury share acquisition policy | Return profits to shareholders while maintaining an appropriate level of equity and ensuring financial soundness. The acquisition limit, timing and conditions are Not disclosed. |
| Cost of capital | Cost of equity: 4.43%; WACC: approximately 3.00% (weighted average: 2.96%). |
| Self-assessment of PBR and share price | PBR is approximately 0.4x, below 1x, and the Company has not received sufficient recognition from the stock market. The Company has not sufficiently communicated its business and growth strategy to the market and has not received sufficient recognition for its future growth. |
| Key initiatives | Increase sales by further deepening existing business relationships and developing new ones, Improve gross margin by increasing sales of high-value-added products, Raise operating profit through appropriate control of selling, general and administrative expenses, Return profits to shareholders while maintaining an appropriate level of equity and ensuring financial soundness, Using specialty paper as its foundation, focus on expanding the range of specialty materials handled beyond paper, Proactively communicate the Company's value in the paper distribution sector and its competitive advantages in environmentally conscious businesses |
| Reason for revision or withdrawal | ROE is significantly below the cost of equity, ROIC has not reached the cost of capital, and PBR is approximately 0.4x, indicating that the Company has not received sufficient recognition from the stock market. The Company has not sufficiently communicated its business and growth strategy to the market and has not received sufficient recognition for future growth that is reflected in its share price. |
| Publication date | 18 June 2026 |
Items this document does not state (13)
Sales TargetOperating profit targetOperating profit margin targetNet income targetTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsResults under the previous planSize of the Target MarketRisks identifiedDate 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.ROE is significantly below the 4.43% cost of equity, while ROIC has also not reached the approximately 3.00% cost of capital. In addition, PBR is approximately 0.4x, indicating that the Company has not received sufficient recognition from the stock market, and the Company believes that its future growth has not been adequately valued because it has not sufficiently communicated its business and growth strategy.
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.