Updated on February 3, 2026
Medium- and Long-term Management Plan (2026-2036)
The Hulic Group has newly formulated its Medium- and Long-term Management Plan (2026 – 2036) in response to changes in business environment.
Under the Plan, the group aim to build a distinctive and resilient portfolio by leveraging M&As and incorporating diversified growth businesses centered on real estate business, in order to pursue and achieve stable and sustained growth and shareholder value enhancement.
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February 2026
Medium- and Long-term Management Plan (2026-2036)
Review of the Previous Management Plan /
Business Environmental Assessment and Key Issues
Review of the Previous Management Plan (2020-2029)
- Achieved more than double growth of ordinary profit over the six years
- Made progress toward achieving the target of JPY180.0 bn in consolidated ordinary profit set for 2029 in the previous plan by 2026
- Achieved an upgrade of credit rating and further enhanced equity
- Strengthened shareholder returns by raising dividend payout ratio on top of increasing return through profit growth
Grown to a Japan’s leading company,
moving on to the next stage
Achieved all the criteria of Japan’s leading company as defined by Hulic, including:
“Ordinary profit of JPY100.0 bn or more; Credit rating of AA category;
Market capitalization of JPY1 tn or more; ROE of 10% or higher; PBR of 1.0x or higher;
and 4-star or higher rating in Nikkei SDGs Management Survey”
Business Environmental Assessment and Key Issues
Amid rapid changes and uncertainty in the business environment, we recognize that growth and stability
cannot be achieved through a single-focus business or by extending past approaches.
Based on this recognition, we have concluded that a new growth strategy
aligned with these changes is necessary and have formulated the Management Plan for 2026–2036
Medium- and Long-term Management Plan (2026-2036)
Target Profile / Basic Policy / Basic Strategy
Medium- and Long-term Management Plan (2026-2036)
Quantitative Targets
Medium- and Long-term Management Plan (2026-2036)
Outline of the Business Strategies
We aim to achieve profit growth and enhance investment efficiency by incorporating diversified growth businesses centered on Real Estate Business.
Policy on Shareholder Returns
We consider appropriate returning to our shareholders as a management matter. Our basic policy is to provide stable dividends payment based on our business performance trend. Reflecting profit growth, we have continued to increase dividends every year since our listing. Under Medium- to Long‑term Management Plan (2026–2036), we intend to further enhance shareholder returns and aim to raise the dividend payout ratio to 45% in a phased manner by 2029.
Dividend and Payout Ratio History
*In consideration of the 2012 merger with Shoei Co., Ltd. (share exchange ratio: former Shoei Co., Ltd.: former Hulic Co., Ltd. = 1:3), the dividends per share in 2008–2011 were calculated by dividing dividends of the former Hulic by three.