Implementing Management with a Focus on the Cost of Capital
First written in FY2020. 8 of 9 entries say "Advanced", first in FY2022. Latest entry: 2026-08-07.
The whole theme swung hardest in 2021: 3 of 11 companies on the "Worse" side.
19 other companies' latest entry also says "Advanced".
- 2026-08-07AdvancedTreasury Stock
「The Company will acquire treasury shares in order to enhance shareholder returns and improve capital efficiency, while enabling the flexible execution of capital policies in response to changes in the management environment.」
As a specific measure reflecting a focus on capital efficiency, the Company newly decided on a treasury share acquisition plan with a maximum value of ¥5 billion. - FY2026AdvancedAnnual report
「We strengthened initiatives to improve our ROE by breaking down the scope of ROIC analysis by major site and deploying site-specific issues and remedies using an ROIC tree.」
Management that takes the cost of capital and capital efficiency into account has been given concrete form through ROIC analysis by major site, an ROIC tree, growth strategy meetings and capital allocation under the new medium-term plan. - FY2026-H1AdvancedAnnual report
「Total number of shares that may be acquired: 2,900,000 shares (maximum) (4.45% of the total number of issued shares excluding treasury shares) … Total acquisition cost: ¥5,000 million (maximum) … Acquisition period: 16 May 2025–31 December 2025 … Market purchases through a trust. … By 7 October 2025, we had acquired 1,857,600 of our common shares for ¥4,999 million.」
As a specific measure of management that takes capital efficiency into account, the company increased the maximum treasury share acquisition amount to ¥5,000 million and completed the plan after acquiring ¥4,999 million by 7 October 2025. - FY2025-H1AdvancedAnnual report
「We are acquiring treasury shares to expand shareholder returns and improve capital efficiency, while enabling the flexible execution of capital policies in response to changes in the business environment. … Total number of shares that may be acquired: 600,000 shares (maximum) … Total acquisition cost: ¥2,000 million (maximum) … By 27 August 2024, we had acquired 396,400 of our common shares for ¥1,999 million.」
As a specific measure of management that takes capital efficiency into account, the company implemented a new treasury share acquisition plan and disclosed acquisitions totaling ¥1,999 million, nearly reaching the ¥2,000 million maximum. - FY2024-Q3AdvancedAnnual report
「Reason for the acquisition of treasury shares We are acquiring treasury shares to expand shareholder returns and improve capital efficiency, while enabling the flexible execution of capital policies in response to changes in the business environment.」
As a specific measure of management that takes capital efficiency into account, the treasury share acquisition plan progressed, with 430,000 shares acquired for ¥1,903 million by 31 December 2023. - FY2024-Q2AdvancedAnnual report
「The Company will acquire treasury shares in order to enhance shareholder returns and improve capital efficiency, while enabling the flexible execution of capital policies in response to changes in the management environment.」
As a specific measure of management that takes capital efficiency into account, the company newly resolved to acquire treasury shares and had completed the acquisition by the end of September 2023. - FY2023-Q1AdvancedAnnual report
「Against this backdrop, and in accordance with the spirit of the Corporate Governance Code, we decided, from the perspective of placing priority on capital efficiency, to reduce our ownership interest from 51.0% to 14.5%.」
As part of the review of the business portfolio with an awareness of capital efficiency, the transaction to reduce the ownership interest in Geico from 51.0% to 14.5% was completed, putting the policy of governance of affiliated companies and emphasis on capital efficiency into practice. - FY2022AdvancedAnnual report
「Our group will review its existing business portfolio from the perspectives of capital efficiency, alignment with its long-term strategy and governance of affiliated companies, and transition to a robust business structure capable of creating value over the long term.」
Management that takes the cost of capital into account has been given concrete form through a review of the business portfolio, governance of affiliated companies and a target of reducing policy-held shares to less than 20% of net assets by the fiscal year ending March 2024. - FY2020First statedAnnual report
「We will strengthen our corporate governance framework by enhancing the Board of Directors’ oversight function and practicing management that takes the cost of capital into account.」
As governance-enhancement measures, the company has specified improvements to the Board of Directors’ oversight function and management that takes the cost of capital into account.