Setting New Targets Following the Early Achievement of Medium-Term Management Targets
First written in FY2016. 8 of 17 entries say "Advanced", first in FY2020. Latest entry: 2026-08-05.
The whole theme swung hardest in 2021: 17 of 77 companies on the "Worse" side.
31 other companies' latest entry also says "Restated".
- 2026-08-05RestatedEarnings presentation
「The full-year earnings forecast for the fiscal year ending March 2027 remains unchanged from the previous forecast.」
The Company leaves its full-year earnings forecast for the fiscal year ending March 2027 unchanged, reconfirming its existing targets and forecasts. - FY2026AdvancedAnnual report
「For the current consolidated fiscal year, adjusted operating profit before amortization of goodwill average annual growth (Note 1) exceeded the target, with the recovery in advertising demand and profitability improvements from the reorganization of the Group's formation making significant contributions. Adjusted gross profit average annual growth (Note 2) did not reach the target, but growth was maintained. Adjusted operating margin before amortization of goodwill (Note 3) exceeded the target level for the fiscal year ending March 2027.」
Against the fiscal year ending March 2027 targets, the company disclosed that adjusted operating profit growth and adjusted operating margin before amortization of goodwill exceeded their targets, while adjusted gross profit growth remained positive despite falling short of its target. - FY2026-H1AdvancedAnnual report
「Meanwhile, the company continued efforts to improve profitability in Japan and overseas. Adjusted gross profit (Note 4) was ¥179.933 billion, down only 0.2% year on year, while the adjusted gross profit margin improved by 1.3 percentage points. In Japan in particular, adjusted gross profit increased 1.2% year on year despite lower revenue. Cost-control measures implemented in Japan and overseas also proved effective. Operating profit increased 21.0% year on year to ¥10.742 billion, while adjusted operating profit rose sharply by ¥5.122 billion, or 91.1%. Adjusted operating margin before amortization of goodwill (Note 5) also improved steadily to 9.4%, up 1.8 percentage points year on year.」
In relation to the medium-term management targets for the fiscal year ending March 2027, adjusted operating profit increased 91.1% year on year in the interim period, while adjusted operating margin before amortization of goodwill improved by 1.8 percentage points to 9.4%. - FY2025AdvancedAnnual report
「For the current consolidated fiscal year, adjusted operating profit before amortization of goodwill average annual growth (Note 1) exceeded the target, with the recovery in advertising demand and profitability improvements from the reorganization of the Group's formation making significant contributions. Adjusted gross profit average annual growth (Note 2) did not reach the target, but growth was maintained. Adjusted operating margin before amortization of goodwill (Note 3) had already approached the target level for the fiscal year ending March 2027 in the first year of the medium-term management plan, and the company aims to further strengthen sustainable profitability through greater efficiency and the execution of growth initiatives. ROE before amortization of goodwill (Note 4) fell below the target, affected by temporary expenses associated with structural reforms in the North American business.」
As the first-year results against the fiscal year ending March 2027 targets, the company disclosed that adjusted operating profit before amortization of goodwill average annual growth exceeded the target, gross profit growth remained positive despite falling short of the target, operating margin approached the target level and ROE fell short of the target. - FY2024ReframedAnnual report
「<Medium-term management targets (fiscal year ending March 2027)> Adjusted operating profit before amortization of goodwill average annual growth: +10% or higher; adjusted gross profit average annual growth: +5% or higher; adjusted operating margin before amortization of goodwill: +13% or higher; ROE before amortization of goodwill: 10% or higher」
After presenting the results of the revised plan ending in the fiscal year ending March 2024, the company updated its medium-term management plan and numerical targets for the fiscal years ending March 2025 through March 2027. Results for the fiscal year ending March 2024 under the previous plan were consolidated operating profit before amortization of goodwill of ¥50.1 billion, adjusted gross profit average annual growth of 8.0%, adjusted operating profit before amortization of goodwill average annual growth of -3.6%, operating margin of 11.2% and ROE before amortization of goodwill of 11.5%. - FY2023AdvancedAnnual report
「In the current consolidated fiscal year, the average annual growth rates in adjusted consolidated gross profit and adjusted consolidated operating profit before amortization of goodwill from the base year specified in the medium-term management targets, excluding the impact of the investment business, remained in the double-digit range. This was despite active strategic investment, supported by the recovery in advertising demand, foreign-exchange effects and the contribution from M&A.」
The company explained that average annual growth in adjusted consolidated gross profit and adjusted consolidated operating profit before amortization of goodwill, based on the fiscal year ended March 2021, remained in the double-digit range despite active strategic investment. ROE before amortization of goodwill was 13.1%, exceeding the target of 10% or higher. - FY2022AdvancedAnnual report
「Consolidated operating profit before amortization of goodwill, including gains and losses from the investment business, also increased substantially from the previous fiscal year to a record ¥84.0 billion. Adjusted consolidated operating margin before amortization of goodwill, a key performance indicator, came in above 20%. This reflected the effects of cost-structure reforms and temporary factors such as the absence of activity-related expenses due to restrictions on movement, despite continued strategic investment to drive transformation. ROE before amortization of goodwill was also high at 19.7%.」
For the first year of the revised plan ending in the fiscal year ending March 2024, the company reported operating profit before amortization of goodwill of ¥84.0 billion, an operating margin above 20% and ROE before amortization of goodwill of 19.7%, describing the start as favorable. - FY2022-Q3ReframedAnnual report
「The company had been monitoring economic and market trends and considering a review of the plan, but decided to revise the medium-term management plan when it announced its results for the third quarter of the fiscal year ending March 2022.」
The numerical targets for the fiscal year ending March 2024, withdrawn in November 2020, were reset under a new plan. The medium-term management targets are adjusted consolidated gross profit average annual growth of +7% or higher, adjusted consolidated operating profit before amortization of goodwill average annual growth of +7% or higher and consolidated operating profit before amortization of goodwill of ¥65.0 billion or higher. The key performance indicators are adjusted consolidated operating margin before amortization of goodwill of approximately 15% and ROE before amortization of goodwill of 10% or higher. - FY2021-Q2DroppedAnnual report
「The company formulated a medium-term management plan ending in the fiscal year ending March 2024 and has pursued various strategies since the fiscal year ended March 2020. It determined that maintaining the stated numerical targets was no longer appropriate and decided to withdraw them. The new numerical targets will be considered when the medium-term market outlook can be reasonably calculated and will be disclosed as appropriate.」
The company explicitly withdrew the numerical targets under the medium-term management plan ending in the fiscal year ending March 2024, citing changes in the assumptions underlying the economy and advertising market caused by the COVID-19 pandemic. New numerical targets have been put on hold until the market outlook can be reasonably calculated. - FY2020AdvancedAnnual report
「For the current consolidated fiscal year, consolidated operating profit before amortization of goodwill was ¥64.17 billion, down 11.1% year on year, due to the impact of the spread of COVID-19 as well as the negative base effect from gains of approximately ¥13.0 billion on the sale of Mercari shares in the previous fiscal year.」
As the first-year results against the fiscal year ending March 2024 targets, the company disclosed consolidated operating profit before amortization of goodwill of ¥64.17 billion. Adjusted gross profit increased 4.7% year on year, adjusted operating profit declined 2.2%, operating margin was 17.5% and ROE before amortization of goodwill was 18.9%. - FY2019ReframedAnnual report
「Against this backdrop, our Group formulated a medium-term management plan ending in the fiscal year ending March 2024 to achieve sustainable growth. Medium-term management targets (fiscal year ending March 2024): Consolidated operating profit before amortization of goodwill: ¥95.0 billion; adjusted consolidated gross profit average annual growth: +7% or higher; adjusted consolidated operating profit before amortization of goodwill average annual growth: +8% or higher; adjusted consolidated operating margin before amortization of goodwill: 20% or higher; ROE before amortization of goodwill: 15% or higher」
Following achievement of the targets under the previous medium-term management plan, the company updated the plan for the fiscal year ending March 2024. The operating profit target changed from ¥57.0 billion to ¥95.0 billion, the margin from 18–20% to 20% or higher and ROE from 10% or higher to 15% or higher. Adjusted growth indicators excluding the investment business were also added. - FY2017-Q2AchievedAnnual report
「We have decided to revise our medium-term management targets and key performance indicators as follows. Consolidated operating profit before amortization of goodwill (Note 1): ¥57.0 billion」
The company has moved from a policy of announcing new targets after re-evaluating market trends and its strategies to setting and disclosing specific new targets. - FY2016First statedAnnual report
「As we achieved our numerical targets ahead of schedule, we recognize the need to set new targets. We will review market trends, re-evaluate the effectiveness of our various strategies and then announce new targets.」
The company said it would re-evaluate market trends and its strategies and set new targets after achieving its existing numerical targets ahead of schedule.