Koa Shoji Holdings (9273) Investor presentation summary

Market valuation and capital efficiency

• PBR at FYE6/2026 was 1.02x, with share price and net asset value per share both rising, but PBR stagnating due to parallel growth.

• PER remains lower than sector averages, highlighting the need to strengthen shareholder returns and IR activities.

• ROE for FYE6/2026 was 12.6%, consistently above the estimated cost of equity (8–10%).

• Financial leverage and net profit margin have been maintained at healthy levels, supporting capital efficiency.

Strategic and financial targets

• Medium-term plan targets ROE of 12% or higher through FYE6/2028, with further improvement aimed for FYE6/2030.

• Operating profit target of ¥8.0 billion and consolidated net sales of ¥40 billion by FYE6/2030.

• Growth driven by expanding API segment and early operation of Zao Factory 2.

Initiatives to enhance valuation and shareholder value

• Focus on improving both ROE and PER to enhance PBR through execution of medium- and long-term plans.

• Strategic investments in new products, facility upgrades, and sustainability initiatives such as GHG reduction and supply chain improvements.

• Strengthened IR structure and enhanced disclosure to foster market expectations.