【Tirad】 Medium-Term Management Plan and Growth Strategy | July 2026

Business Strategy and Medium-Term Plan

Tirad announced its medium-term management plan "T.RAD-2026" in July 2026, aiming to reach sales of 200 billion yen by 2030. The focus is on expanding sales of heat exchangers for four-wheel vehicles and increasing market share, particularly targeting HEV and PHEV applications with multi-function radiators. The company expects to increase revenue by over 30 billion yen compared to fiscal year 2025. As electrification advances, demand for heat exchangers is increasing, with efforts also directed toward BEV and fuel cell vehicles. Additionally, Tirad is exploring new markets such as data centers and space applications.

ROE Enhancement and Shareholder Returns

To achieve an ROE of 20%, Tirad is working on cost reduction, productivity improvements, and reviewing segments with low profitability. The company plans to provide stable dividend returns while pursuing appropriate capital efficiency, considering leverage as well. The shareholder return policy aims for a payout ratio of over 50% and a DOE of over 5.0%, with projected dividends of 40 yen per share for the half-year and 80 yen per share for the full year in fiscal 2026. The company is also considering treasury stock buybacks at appropriate times.