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Morinaga Milk Industry (2264) · FactThe equity ratio declined from 51.2% to 50.2%.

Improving the Equity Ratio

First written in FY2018-Q3. 19 of 29 entries say "Advanced", first in FY2018. Latest entry: FY2026.

29entries
9years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2021-Q2 – FY2022AdvancedFY2024-Q1 – FY2025-H12018: 420182019: 420192020: 420202021: 420212022: 420222023: 320232024: 320242025: 120252026: 22026
Same theme, other companies
Fluctuations in Equity RatioA theme 41 companies write about · 5 as a headwind · 1 as a tailwind

The whole theme swung hardest in 2025: 8 of 41 companies on the "Worse" side.

25 other companies' latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 41 companies compared. The sentences above are computed from all 41.
Full recordFilings, disclosures and news, newest first
  1. FY2026The equity ratio declined from 51.2% to 50.2%.Annual report

    「As a result, the equity ratio declined from 51.2% at the end of the previous consolidated fiscal year to 50.2%, while net assets per share increased from ¥3,187.41 at the end of the previous consolidated fiscal year to ¥3,403.79.」

    The equity ratio declined against a backdrop of increases in long-term borrowings and bonds, among other factors, while net assets per share increased.
  2. 2026-05-13OtherEarnings presentation

    「Equity ratio (%)」

    The equity ratio declined from 51.2% in the fiscal year ended March 2025 to 50.2% in the fiscal year ended March 2026.
  3. FY2026-H1The equity ratio declined from 51.2% to 48.7%.Annual report

    「As a result, the equity ratio declined from 51.2% at the end of the previous consolidated fiscal year to 48.7%.」

    The equity ratio declined by 2.5 percentage points from the end of the previous fiscal year, mainly due to increases in long-term borrowings and bonds, among other factors.
  4. FY2025-H1AdvancedAnnual report

    「As a result, the equity ratio rose from 49.0% at the end of the previous consolidated fiscal year to 51.7%.」

    The equity ratio rose by 2.7 percentage points from the end of the previous fiscal year.
  5. FY2024AdvancedAnnual report

    「As a result, the equity ratio rose from 45.7% at the end of the previous consolidated fiscal year to 49.0%, while net assets per share increased from ¥2,463.65 at the end of the previous consolidated fiscal year to ¥3,192.33.」

    The equity ratio rose from 45.7% to 49.0%, mainly due to an increase in retained earnings and other factors.
  6. FY2024-Q3AdvancedAnnual report

    「As a result, the equity ratio rose from 45.7% at the end of the previous consolidated fiscal year to 48.5%.」

    The equity ratio rose by 2.8 percentage points from the end of the previous fiscal year, mainly due to an increase in retained earnings resulting from extraordinary income, including the gain on the sale of the former Tokyo plant site.
  7. FY2024-Q2AdvancedAnnual report

    「As a result, the equity ratio rose from 45.7% at the end of the previous consolidated fiscal year to 48.2%.」

    The equity ratio rose by 2.5 percentage points from the end of the previous consolidated fiscal year, mainly due to an increase in retained earnings.
  8. FY2024-Q1AdvancedAnnual report

    「As a result, the equity ratio rose from 45.9% at the end of the previous consolidated fiscal year to 50.0%.」

    The equity ratio rose by 4.1 percentage points from the end of the previous fiscal year, mainly due to an increase in retained earnings resulting from extraordinary income and other factors.
  9. FY2023-Q3The equity ratio at the end of the third quarter declined from the previous quarter.Annual report

    「As a result, the equity ratio rose from 44.9% at the end of the previous consolidated fiscal year to 45.9%.」

    The equity ratio rose by 1.0 percentage point from the end of the previous consolidated fiscal year, but declined from 46.2% at the end of the previous quarter to 45.9%.
  10. FY2023-Q2AdvancedAnnual report

    「As a result, the equity ratio rose from 44.9% at the end of the previous consolidated fiscal year to 46.2%.」

    The equity ratio at the end of the second quarter rose from 44.6% at the end of the first quarter to 46.2%.
  11. FY2023-Q1The equity ratio declined from 44.9% to 44.6%.Annual report

    「As a result, the equity ratio declined from 44.9% at the end of the previous consolidated fiscal year to 44.6%.」

    The equity ratio at the end of the first quarter declined by 0.3 percentage points from the end of the previous consolidated fiscal year.
  12. FY2022AdvancedAnnual report

    「As a result, the equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 44.9%, while net assets per share increased from ¥4,028.36 at the end of the previous consolidated fiscal year to ¥4,554.84.」

    The equity ratio and net assets per share rose from the end of the previous fiscal year.
  13. FY2022-Q3AdvancedAnnual report

    「As a result, the equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 46.2%.」

    The equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 46.2%.
  14. FY2022-Q2AdvancedAnnual report

    「As a result, the equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 46.4%.」

    The equity ratio rose by 2.5 percentage points from the end of the previous consolidated fiscal year.
  15. FY2022-Q1AdvancedAnnual report

    「As a result, the equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 45.2%.」

    The equity ratio rose from 43.9% at the end of the previous consolidated fiscal year to 45.2%.
  16. FY2021AdvancedAnnual report

    「As a result, the equity ratio rose from 41.6% at the end of the previous consolidated fiscal year to 44.0%, while net assets per share increased from ¥3,663.73 at the end of the previous consolidated fiscal year to ¥4,028.36.」

    The equity ratio rose from 41.6% to 44.0%, and net assets per share also increased.
  17. FY2021-Q3AdvancedAnnual report

    「As a result, the equity ratio rose from 41.6% at the end of the previous consolidated fiscal year to 43.0%.」

    The equity ratio rose by 1.4 percentage points from the end of the previous consolidated fiscal year.
  18. FY2021-Q2AdvancedAnnual report

    「As a result, the equity ratio rose from 41.6% at the end of the previous consolidated fiscal year to 42.6%.」

    The equity ratio rose by 1.0 percentage point from 41.6% at the end of the previous consolidated fiscal year to 42.6%.
  19. FY2021-Q1The equity ratio declined from 41.6% to 41.2%.Annual report

    「As a result, the equity ratio declined from 41.6% at the end of the previous consolidated fiscal year to 41.2%.」

    The equity ratio decreased by 0.4 percentage points from the end of the previous fiscal year.
  20. FY2020AdvancedAnnual report

    「As a result, the equity ratio rose from 38.7% at the end of the previous consolidated fiscal year to 41.6%, while net assets per share increased from ¥3,384.81 at the end of the previous consolidated fiscal year to ¥3,663.73.」

    The equity ratio rose from 38.7% to 41.6%, and net assets per share also increased.
  21. FY2020-Q3AdvancedAnnual report

    「As a result, the equity ratio rose from 38.7% at the end of the previous consolidated fiscal year to 39.1%.」

    The equity ratio rose from 38.7% at the end of the previous consolidated fiscal year to 39.1%.
  22. FY2020-Q2AdvancedAnnual report

    「As a result, the equity ratio rose from 38.7% at the end of the previous consolidated fiscal year to 39.6%.」

    The equity ratio rose from 38.7% at the end of the previous consolidated fiscal year to 39.6%.
  23. FY2020-Q1The equity ratio declined from 38.7% to 38.1%.Annual report

    「As a result, the equity ratio declined from 38.7% at the end of the previous consolidated fiscal year to 38.1%.」

    The equity ratio declined by 0.6 percentage points from the end of the previous consolidated fiscal year.
  24. FY2019AdvancedAnnual report

    「As a result, the equity ratio rose from 38.0% at the end of the previous consolidated fiscal year to 38.7%, while net assets per share increased from ¥3,184.08 at the end of the previous consolidated fiscal year to ¥3,384.81.」

    The equity ratio rose from 38.0% to 38.7%, and net assets per share also increased.
  25. FY2019-Q3AdvancedAnnual report

    「As a result, the equity ratio rose from 38.0% at the end of the previous consolidated fiscal year to 39.1%.」

    The equity ratio rose from 38.0% at the end of the previous consolidated fiscal year to 39.1%.
  26. FY2019-Q2The equity ratio was flat at 38.0%.Annual report

    「As a result, the equity ratio was 38.0%, unchanged from 38.0% at the end of the previous consolidated fiscal year.」

    The equity ratio was unchanged from the end of the previous consolidated fiscal year, remaining at 38.0%.
  27. FY2019-Q1The equity ratio declined from 38.0% to 37.7%.Annual report

    「As a result, the equity ratio declined from 38.0% at the end of the previous consolidated fiscal year to 37.7%.」

    The equity ratio declined by 0.3 percentage points from the end of the previous consolidated fiscal year.
  28. FY2018AdvancedAnnual report

    「As a result, the equity ratio rose from 36.9% at the end of the previous consolidated fiscal year to 37.8%, while net assets per share increased from ¥2,870.80 at the end of the previous consolidated fiscal year to ¥3,184.08.」

    The equity ratio rose from 36.9% to 37.8%, and net assets per share also increased.
  29. FY2018-Q3First statedAnnual report

    「As a result, the equity ratio rose from 36.9% at the end of the previous consolidated fiscal year to 37.6%.」

    It states that the equity ratio at the end of the third quarter rose by 0.7 percentage points from the end of the previous consolidated fiscal year.
Moved together

"Profit recovery in the fiscal year ended March 2016" moved the same way as this thread, in the same document, in 15 of its 29 moves.

15141312128★123456
  1. ★This thread
  2. 1Profit recovery in the fiscal year ended March 201615×
  3. 2Advancing Globalization14×
  4. 3Product Development and Improvements Tailored to Customer Needs and Adoption of Price Revisions13×
  5. 4Development of the Health and Nutrition Business12×
  6. 5Improving the Profitability of the Existing Business12×
  7. 6Improving Asset Efficiency and Advancing Rationalization8×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Morinaga Milk Industry yet. It last moved in the Earnings presentation of 2026-05-13: "Other".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Improving the Equity Ratio | MORINAGA MILK INDUSTRY CO.,LTD. (2264) | Komori