■Summary

Tobishima Holdings ＜256A＞ was established in 2024/10 as a wholly owned parent company of Tobishima Construction Co., Ltd., through a sole share transfer. Along with that, a “story to innovate the future,” including a medium-term management plan that concretizes the “medium- to long-term management vision” announced by Tobishima Corporation in 2023/11, was formulated and announced.

1. Overview of “Stories that Revolutionize the Future”

This “Story of Innovating the Future” is a plan to break away from Tobishima Construction (Group) up until now and challenge a new form, that is, to put into practice the “challenge of innovation.” Furthermore, the “Innovate the Future Plan” was formulated as a plan to show the path to this transformation (transformation), and in addition, a “medium-term management plan (~ 2027)” showing specific action plans and quantitative goals aimed at improving the corporate value of the company group was formulated and announced.

2. Group vision

Prior to carrying out the “Story to Innovate the Future,” the company announced its group vision. In this vision, it is stated that it will become a “New Business Contractor” to support future industrial promotion and development as an “goal.” A “new business contractor” means becoming an “indispensable enterprise” for society by developing a business that is not limited to construction (construction business) up until now. The main purpose is to create new businesses that can flexibly respond to diverse social needs, support the creation of businesses by diverse people, and aim to be a business partner that realizes them, rather than the “something” that is currently visible.

Furthermore, their own “role” is defined as “protecting people's living infrastructure and creating a 'future construction' which is essential to support economic development.” The stance of constantly searching for new “ways of thinking and methods” and “transformation” (change) rather than the specific “something” currently visible is expressed as “future construction,” in other words, a “mission.” In this process, it is a policy to pursue the three values of “construction innovation (creation),” “alliance innovation (co-creation),” and “social innovation (symbiosis).”

3. “Innovate the Future Plan”: A Path to Change

The “Innovate the Future Plan” shows the company group's “form of transformation” and the path of “management strategy for its realization,” and it is based on being aware of innovation for the future and creating new value and possibilities without being bound by conventional frameworks or methods. As a business framework, we plan to promote business from the three aspects of “construction business (comprehensive construction business),” “growth business (construction-related business: synergy creation),” and “innovation business (construction DX support business: construction industry digitalization),” and further promote it by dividing it into 3 parts: “short term,” “baton zone,” and “long term” as a time axis. The short term is a period of overcoming current challenges and problems and promoting change and innovation. The baton zone is a period where these processes are further evolved, sublimated, and developed, and the start is simultaneous with the “short term.” The long term depends on the speed of changes in the social environment, and no clear fiscal year has been set. It shows the direction (vector) of the business strategy, and it shows a period where the company changes drastically by responding flexibly to changes in the social environment, and is a period beyond that.

4. Mid-Term Management Plan (~2027): Action Plans and Numerical Targets

Whereas the “Innovate the Future Plan” described above shows the path, the “Mid-Term Management Plan (~ 2027)” (the final year of the 2028/3 fiscal year ended 2028/3) showed specific action plans and quantitative targets aimed at improving corporate value. Same below). Specifically, we will “expand the profit base,” “improve capital efficiency,” “rebuild the supply chain,” “change corporate culture and rebuild human resources strategies,” “strengthen governance,” and “stable shareholder returns.” Quantitative targets include sales of 160 billion yen, operating income of 9.6 billion yen, and ROE of 10.0% for the fiscal year ending 2028/3.

■Key Points

・A holding company whose main subsidiary is Tobishima Corporation, which has a long history

・Aim to “challenge change” by presenting “stories that innovate the future” including the medium-term management plan

・By implementing the action plan, we aim for sales of 160 billion yen, operating income of 9.6 billion yen, and ROE of 10.0% for the fiscal year ending 2028/3

(Written by FISCO Visiting Analyst Noboru Terashima)