Targets for ROA, ROE, net debt-to-equity ratio and dividend payout ratio
First written in FY2016. 4 of 13 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026RestatedAnnual report
「Of the 3 quantitative targets, we aim to secure average ROE of over 12% and profit for the year of over ¥120 billion over the three-year period, and thereby enhance corporate and shareholder value.」
The Medium-Term Management Plan 2026 target of ROE of over 12% continues. The return on equity attributable to owners of the parent disclosed for the fiscal year ending March 2026 was 10.1%. - FY2025RestatedAnnual report
「We aim to secure average ROE of over 12% and profit for the year of over ¥120 billion over the three-year period, exceeding our recognized cost of shareholders’ equity of 9% to 10%, and thereby enhance corporate and shareholder value.」
The target of average ROE of over 12% over the three-year period under Medium-Term Management Plan 2026 continues. The return on equity attributable to owners of the parent was 11.7% for the fiscal year ended March 2025. - FY2024RaisedAnnual report
「We aim to secure ROE of over 12%, exceeding our recognized cost of shareholders’ equity of 9% to 10%, and thereby enhance corporate and shareholder value.」
Medium-Term Management Plan 2026 introduced ROE of over 12%, exceeding the 9% to 10% cost of shareholders’ equity, as a new quantitative target. The human resources strategy also refers to ROE of over 15% as an indicator for the Next Stage. - FY2023AdvancedAnnual report
「Recognizing that our cost of shareholders’ equity is approximately 8%, Medium-Term Management Plan 2023 sets a target average ROE of over 10% for the three-year period as a management indicator. To achieve this target, we introduced cash return-based ROIC (CROIC), an internal management indicator representing basic operating cash flow relative to invested capital, and established the CROIC level to be achieved by each segment as its value creation line. ROE was 14.2% in fiscal 2022, exceeding the target.」
ROE was 14.2% in fiscal 2022, against the three-year average target of over 10%. Management based on CROIC and value creation lines also continues. - FY2023-Q2RestatedAnnual report
「Under Medium-Term Management Plan 2023, the consolidated payout ratio is approximately 30% based on this basic policy. In addition, if the PBR is below 1x at the end of each fiscal year, the minimum dividend is set at 4% DOE based on market value (Note 1), while if the PBR is 1x or higher, the minimum dividend is set at 4% DOE based on book value (Note 2).」
The quantitative profit distribution standards of a consolidated payout ratio of approximately 30% and a minimum dividend of 4% DOE depending on the PBR continue. - FY2022RaisedAnnual report
「By expanding dialogue and information dissemination inside and outside the company regarding these initiatives, we aim to foster expectations for growth and achieve a PBR of more than 1x.」
In addition to the previous ROE, payout ratio and DOE targets, achieving a PBR of more than 1x has been stated as an explicit target. - FY2022-Q3Added a PBR-linked minimum dividend based on DOEAnnual report
「Based on the basic policy for profit distribution under Medium-Term Management Plan 2023, the consolidated payout ratio is approximately 30%. In addition, if the PBR is below 1x at the end of each fiscal year, the minimum dividend is set at 4% DOE based on market value (Note 1), while if the PBR is 1x or higher, the minimum dividend is set at 4% DOE based on book value (Note 2).」
In addition to continuing the consolidated payout ratio of approximately 30%, a new standard was established under which DOE of 4% is the minimum dividend depending on the PBR level. - FY2020RaisedAnnual report
「The management indicators targeted under Medium-Term Management Plan 2020 are as follows: management indicators: ROA, ROE, net DER and consolidated payout ratio; targets: over 3%, over 10%, no more than 1.5x and approximately 30%, respectively.」
Compared with the targets under Medium-Term Management Plan 2017, the targets for ROA and ROE were raised to over 3% and over 10%, respectively, and the consolidated payout ratio to approximately 30%. The net DER ceiling remains at no more than 1.5x. - FY2016First statedAnnual report
「The management indicators targeted under Medium-Term Management Plan 2017 are as follows.」
The targets are ROA of at least 2%, ROE of at least 8%, net DER of no more than 1.5x and a consolidated payout ratio of approximately 25%.