Establishing a Sound Financial Base, Improving the Equity Ratio, and Reducing Interest-Bearing Debt
First written in FY2016. 18 of 39 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-07-31.
The whole theme swung hardest in 2023: 3 of 16 companies on the "Worse" side.
6 other companies' latest entry also says "Advanced".
- 2026-07-31AdvancedEarnings
「2027年３月期第１四半期 37.3」
自己資本比率は2026年3月末の36.9％から37.3％へ上昇し、自己資本比率のさらなる向上という方針に沿って改善した。 - FY2026AdvancedAnnual report
「Net assets totaled ¥10,859 million, an increase of ¥2,074 million from the end of the previous fiscal year. As a result, the consolidated equity ratio rose by 5.0 percentage points from the previous fiscal year to 36.9%. We will continue to improve the equity ratio through stable earnings generation and efficient management of total assets, while maintaining profitability above the cost of capital.」
The equity ratio rose by 5.0 percentage points from 31.9% to 36.9%, exceeding the new medium-term plan's target of at least 35%. Interest-bearing debt also declined to ¥12,023 million, approaching the target of ¥12,000 million or less. - FY2026-H1AdvancedAnnual report
「We formulated the three-year medium-term management plan, Shinyei Challenge Project 2026, covering the three fiscal years through the fiscal year ending March 2027, and set a target of cumulative consolidated ordinary profit of at least ¥5.5 billion over the three years. In the second year, the fiscal year ending March 2026, we are continuing to secure stable earnings by building a competitive business portfolio, while working to further improve the equity ratio through efficient management of total assets and maintain profitability above the cost of capital. The equity ratio was 35.4%.」
The equity ratio rose from 31.9% at the end of March 2025 to 35.4%, exceeding the new medium-term plan's target of at least 35% for the fiscal year ending March 2027 as of the interim period. Short- and long-term borrowings also declined by ¥1,049 million. - FY2025AdvancedAnnual report
「The consolidated equity ratio rose by 3.2 percentage points from the previous fiscal year to 31.9%. We will continue to improve the equity ratio through stable earnings generation and efficient management of total assets, including the sale of certain held assets such as policy-held shares, while maintaining profitability above the cost of capital.」
The equity ratio rose by 3.2 percentage points from 28.7% to 31.9%, and year-end interest-bearing debt declined to ¥13,499 million. The company identified the sale of certain held assets and other measures as means of achieving the new plan's target of an equity ratio of at least 35% for the fiscal year ending March 2027. - FY2025-H1AdvancedAnnual report
「Assets at the end of the interim consolidated accounting period totaled ¥25,340 million, a decrease of ¥1,233 million from the end of the previous fiscal year. As a result, the equity ratio was 30.3%.」
The equity ratio rose from 28.7% at the end of the previous fiscal year to 30.3%, maintaining a level above the previous plan's targets of at least 20% and 23%. This indicates improvement toward the new plan's target of at least 35% for the fiscal year ending March 2027 as of the interim period. - FY2024RaisedAnnual report
「New Medium-Term Management Plan: Shinyei Challenge Project 2026」
The new plan set targets for the fiscal year ending March 2027 of an equity ratio of at least 35%, ROE of at least 15%, year-end interest-bearing debt of ¥12.0 billion or less, and a year-end P/E ratio of at least 12x. The equity ratio improved to 28.7% at the end of the current fiscal year, but the new plan's financial targets have been raised from the previous targets of at least 20% for the equity ratio and 23%. - FY2024-Q3AdvancedAnnual report
「Equity ratio (%) 17.1 24.8 19.3」
The equity ratio at the end of the third quarter was 24.8%, up from 19.3% at the end of the previous fiscal year and above the medium-term plan's targets of at least 20% and 23% in the final year. Short- and long-term borrowings also declined by ¥143 million. - FY2024-Q2AdvancedAnnual report
「Equity ratio (%) 15.2 23.6 19.3」
The equity ratio at the end of the second quarter was 23.6%, up from 19.3% at the end of the previous fiscal year. It exceeded the medium-term plan's targets of at least 20% for the equity ratio and 23% in the final year, but this was a quarter-end result and does not indicate that the targets will be maintained or fully achieved for the full fiscal year. - FY2024-Q1AdvancedAnnual report
「Equity ratio (%) 15.4 20.6 19.3」
The equity ratio improved to 20.6% from 15.4% in the same period of the previous year and 19.3% at the end of the previous fiscal year, exceeding the medium-term plan's target of at least 20%. Meanwhile, short- and long-term borrowings increased by ¥907 million, so this does not indicate that improvement of the financial position has been fully completed. - FY2023AdvancedAnnual report
「Although working capital increased due to these factors, liabilities declined as interest-bearing debt was reduced through the recognition of profit and other measures.」
Short- and long-term borrowings declined by ¥352 million, and the equity ratio improved by 4.7 percentage points from 14.6% to 19.3% due to the recognition of profit and an increase in the valuation difference on other securities. A gap remains to the target of at least 20% for the equity ratio. - FY2023-Q3The equity ratio improved, but borrowings increasedAnnual report
「Equity ratio (%) 12.8 17.1 14.6. Liabilities totaled ¥20,887 million, an increase of ¥732 million from the end of the previous fiscal year. This mainly reflected a ¥615 million decrease in trade payables, partly offset by increases of ¥1,061 million in short- and long-term borrowings and ¥209 million in contract liabilities included in other current liabilities.」
The equity ratio improved from 14.6% at the end of the previous fiscal year to 17.1%, while short- and long-term borrowings increased by ¥1,061 million. A gap remains versus the medium-term plan's targets of at least 20% for the equity ratio and 23% in the final year. - FY2023-Q2The equity ratio improved, but borrowings increasedAnnual report
「Net assets totaled ¥3,711 million, an increase of ¥279 million from the end of the previous fiscal year. This reflected a ¥259 million increase in shareholders' equity due mainly to the recognition of ¥241 million in quarterly net income attributable to owners of the parent, as well as a ¥20 million increase in accumulated other comprehensive income.」
The equity ratio improved from 14.6% at the end of the previous fiscal year to 15.2%, and net assets also increased. Meanwhile, short- and long-term borrowings increased by ¥748 million, and a gap remains versus the targets of at least 20% for the equity ratio and 23% in the final year. - FY2023-Q1AdvancedAnnual report
「Equity ratio (%) 12.4 15.4 14.6」
The equity ratio improved to 15.4% from 12.4% in the same period of the previous year and from 14.6% at the end of the previous fiscal year. Meanwhile, short- and long-term borrowings increased by ¥667 million, and a gap remains to achieving the targets of at least 20% for the equity ratio and 23%. - FY2022AdvancedAnnual report
「Net assets totaled ¥3,432 million, an increase of ¥758 million from the end of the previous fiscal year. As a result, the consolidated equity ratio rose by 2.0 percentage points from the previous fiscal year to 14.6%. We will continue working to establish an earnings base across all businesses by expanding our core businesses, in which we have strengths, and developing businesses that could become core businesses in the future. We will also work to reduce total assets through more efficient use of held assets and other measures, and to control interest-bearing debt.」
The equity ratio improved from 12.6% to 14.6% due to the recognition of profit and a third-party allotment of shares. Meanwhile, short- and long-term borrowings increased by ¥1,307 million, and a gap remains versus the targets of at least 20% for the equity ratio and 23%. - FY2022-Q3The equity ratio improved, but borrowings increased substantiallyAnnual report
「Liabilities totaled ¥20,766 million, an increase of ¥2,246 million from the end of the previous fiscal year. This mainly reflected decreases of ¥185 million in the provision for bonuses and ¥181 million in the provision for environmental measures, partly offset by increases of ¥2,370 million in short- and long-term borrowings and ¥233 million in notes and accounts payable.」
The equity ratio improved slightly from 12.6% at the end of the previous fiscal year to 12.8%, while short- and long-term borrowings increased by ¥2,370 million. A gap remains versus the targets of at least 20% for the equity ratio and 23% in the final year. - FY2022-Q2The equity ratio improved, but borrowings increasedAnnual report
「Liabilities totaled ¥19,070 million, an increase of ¥551 million from the end of the previous fiscal year. This mainly reflected decreases of ¥181 million in the provision for environmental measures, ¥120 million in consumption taxes payable included in other current liabilities, and ¥79 million in the provision for bonuses, partly offset by a ¥998 million increase in short- and long-term borrowings.」
The equity ratio rose from 12.6% at the end of the previous fiscal year to 13.3%, while short- and long-term borrowings increased by ¥998 million. The financial position reflects both factors for improvement and increased burdens. - FY2022-Q1Lower equity ratio; higher borrowingsAnnual report
「Liabilities totaled ¥18,836 million, an increase of ¥317 million from the end of the previous fiscal year. This mainly reflected decreases of ¥230 million in the provision for bonuses and ¥139 million in trade payables, partly offset by a ¥640 million increase in short- and long-term borrowings.」
The equity ratio declined from 12.6% at the end of the previous fiscal year to 12.4%, while short- and long-term borrowings increased by ¥640 million. A gap remains versus the previous targets of at least 20% for the equity ratio and 23% in the final year. - FY2021AdvancedAnnual report
「The consolidated equity ratio rose by 5.3 percentage points from the previous fiscal year to 12.6%. We will continue working to establish an earnings base across all businesses by expanding our core businesses, in which we have strengths, and developing businesses that could become core businesses in the future. We will also work to reduce total assets through more efficient use of held assets and other measures.」
The equity ratio improved by 5.3 percentage points from 7.3% to 12.6% due to the recognition of profit, a reduction in working capital, and an increase in the fair value of investment securities, among other factors. Short- and long-term borrowings also declined by ¥1,418 million, and establishing an earnings base and reducing assets remain measures for improving financial performance. - FY2021-Q3The equity ratio improved and borrowings declined, but the gap versus the target remainsAnnual report
「Equity ratio (%) 9.8 9.9 7.3. Liabilities totaled ¥19,462 million, a decrease of ¥1,214 million from the end of the previous fiscal year. This mainly reflected decreases of ¥122 million in notes and accounts payable, ¥384 million in short- and long-term borrowings, ¥119 million in the provision for bonuses, and ¥386 million in unpaid amounts included in other current liabilities.」
The equity ratio improved from 7.3% at the end of the previous fiscal year to 9.9%, and short- and long-term borrowings also declined by ¥384 million. However, the gap versus the medium-term plan's targets of at least 20% for the equity ratio and 23% in the final year remains substantial. - FY2021-Q2The equity ratio improved slightly, but the gap versus the target remainsAnnual report
「Assets at the end of the second quarter of the current consolidated fiscal period totaled ¥21,162 million, a decrease of ¥1,152 million from the end of the previous fiscal year. This mainly reflected decreases of ¥784 million in merchandise and finished goods and ¥418 million in notes and accounts receivable. Liabilities totaled ¥19,337 million, a decrease of ¥1,338 million from the end of the previous fiscal year. This mainly reflected decreases of ¥460 million in notes and accounts payable and ¥287 million in short- and long-term borrowings.」
The decline in merchandise and accounts receivable and the ¥287 million decrease in short- and long-term borrowings reduced the financial burden. The equity ratio rose from 7.3% to 8.6%, but the gap versus the medium-term plan's targets of at least 20% and 23% remains substantial. - FY2021-Q1The equity ratio improved slightly but remained lowAnnual report
「Equity ratio (%) 11.0 7.7 7.3」
The equity ratio rose slightly from 7.3% at the end of the previous fiscal year to 7.7%, but the gap versus the medium-term plan's targets of at least 20% and 23% in the final year remains substantial. - FY2020WorsenedAnnual report
「Although total assets declined as we worked to improve the consolidated equity ratio, net assets also declined due to the recognition of substantial losses and declines in the fair value of investment securities, among other factors. As a result, the consolidated equity ratio fell by 4.2 percentage points from the previous fiscal year to 7.3%, significantly eroding equity.」
The equity ratio declined to 7.3%, further widening the gap versus the previous targets of at least 20% and 23%. Meanwhile, short- and long-term borrowings declined by ¥1,103 million, and the fiscal 2020 plan set a target of keeping interest-bearing debt at ¥15.5 billion or less. - FY2020-Q3The equity ratio improved slightly, but the gap versus the target remainsAnnual report
「The equity ratio was 9.8%.」
The equity ratio rose slightly from 8.9% at the end of the previous quarter to 9.8%, but a gap remains versus the medium-term plan's targets of at least 20% and 23% in the final year. Net assets totaled ¥2,340 million, down ¥465 million from the end of the previous fiscal year. - FY2020-Q2Slight decline in equity ratio; decrease in borrowingsAnnual report
「Liabilities totaled ¥20,584 million, a decrease of ¥988 million from the end of the previous fiscal year. This mainly reflected decreases of ¥770 million in short- and long-term borrowings and ¥209 million in notes and accounts payable.」
Short- and long-term borrowings declined by ¥770 million, while the equity ratio fell to 8.9%, widening the gap versus the medium-term plan's targets of at least 20% and 23% in the final year. - FY2020-Q1The equity ratio improved slightly, but borrowings declinedAnnual report
「This mainly reflected decreases of ¥364 million in notes and accounts payable, ¥206 million in the provision for bonuses, and ¥125 million in short- and long-term borrowings.」
Short- and long-term borrowings declined by ¥125 million, while the equity ratio fell from 11.5% at the end of the previous fiscal year to 11.0%. A gap remains versus the medium-term target of at least 20%. - FY2019The gap versus the target widened as the equity ratio declined and borrowings increasedAnnual report
「In light of these circumstances, we will work to establish an earnings base across all businesses by expanding our core businesses, in which we have strengths, and developing businesses that could become core businesses in the future, with the aim of achieving the consolidated equity ratio target of at least 20% set out in the medium-term management plan. We will also work to reduce total assets by streamlining working capital, including through appropriate inventory management, and by using held assets more efficiently.」
The equity ratio declined by 4.0 percentage points from the previous fiscal year to 11.5%, while short- and long-term borrowings increased by ¥1,489 million. To address the target of at least 20%, the company again identified securing business earnings and reducing inventories and total assets as measures. - FY2019-Q3Lower equity ratio; higher borrowingsAnnual report
「Liabilities totaled ¥21,458 million, an increase of ¥1,059 million from the end of the previous fiscal year. This mainly reflected decreases of ¥161 million in the provision for bonuses and ¥130 million in bonds, partly offset by a ¥1,322 million increase in short- and long-term borrowings.」
The equity ratio declined from 15.5% at the end of the previous fiscal year to 12.5%, while short- and long-term borrowings increased by ¥1,322 million. The gap versus the medium-term plan's targets of at least 20% for the equity ratio and 23% in the final year has widened further. - FY2019-Q2Lower equity ratio; higher borrowingsAnnual report
「Liabilities totaled ¥21,486 million, an increase of ¥1,086 million from the end of the previous fiscal year. This mainly reflected decreases of ¥102 million in deposits received and ¥87 million in advances received, both included in other current liabilities, and a ¥130 million decrease in bonds, partly offset by increases of ¥868 million in short- and long-term borrowings and ¥635 million in notes and accounts payable.」
The equity ratio was 13.8%, down from 15.5% at the end of the previous fiscal year. Short- and long-term borrowings also increased by ¥868 million, widening the gap versus the targets of at least 20% for the equity ratio and 23% in the final year. - FY2019-Q1Lower equity ratio; higher borrowingsAnnual report
「Liabilities totaled ¥20,278 million, a decrease of ¥120 million from the end of the previous consolidated fiscal year. This was due mainly to declines of ¥270 million in notes and accounts payable, ¥201 million in provision for bonuses and ¥64 million in income taxes payable and other liabilities, despite a ¥495 million increase in short- and long-term borrowings.」
The equity ratio declined from 15.5% at the end of the previous fiscal year to 14.8%, while short- and long-term borrowings increased by ¥495 million. A gap remains versus the equity ratio target in the medium-term plan. - FY2018-Q3Equity ratio increased, but borrowings also roseAnnual report
「Liabilities totaled ¥21,976 million, an increase of ¥1,564 million from the end of the previous consolidated fiscal year. This was due mainly to an increase of ¥2,012 million in short- and long-term borrowings, despite a ¥330 million decline in notes and accounts payable.」
The equity ratio at the end of the third quarter was 15.9%, while short- and long-term borrowings increased by ¥2,012 million from the end of the previous consolidated fiscal year. A gap remains to the medium-term plan targets of at least 20% and 23% in the final year. - FY2018-Q2Equity ratio edged down while borrowings increasedAnnual report
「Liabilities totaled ¥20,957 million, an increase of ¥545 million from the end of the previous consolidated fiscal year. This was due mainly to an increase of ¥683 million in short- and long-term borrowings, despite a ¥175 million decline in income taxes payable and other liabilities.」
The equity ratio at the end of the second quarter was 15.2%, a modest decline from 15.3% at the end of the previous consolidated fiscal year. Short- and long-term borrowings increased by ¥683 million, leaving a gap to the medium-term plan targets of at least 20% and 23% in the final year. - FY2018-Q1AdvancedAnnual report
「Equity ratio (%) 11.2 15.4 15.3」
The equity ratio at the end of the first quarter was 15.4%, a modest increase from 15.3% at the end of the previous consolidated fiscal year. There remains a gap to the medium-term plan targets of at least 20% and 23% in the final year. - FY2017RaisedAnnual report
「Under our financial strategy, we will strengthen equity capital through stable earnings and efficient management, reduce interest-bearing debt, and secure the financial capacity required for strategic investment to expand existing businesses and develop new businesses. ② We aim to improve the equity ratio and establish a financial structure that maintains it at 20% or higher. ③ We aim for a consolidated equity ratio of 23% in the final year of the medium-term management plan, the fiscal year ending March 2020 (Heisei 32).」
While continuing the policy of reducing interest-bearing debt through greater asset efficiency and inventory reduction, the company newly set numerical targets of maintaining an equity ratio of at least 20% and achieving 23% in the final year. The actual equity ratio was 16.7%. - FY2017-Q3AdvancedAnnual report
「Equity ratio (%) 15.9」
The equity ratio at the end of the third quarter was 15.9%, improving from 13.5% at the end of the previous consolidated fiscal year. Meanwhile, short- and long-term borrowings increased by ¥632 million, and the report did not state that improvement of the financial base had been completed. - FY2017-Q2AdvancedAnnual report
「This was because the balance declined due to expenditures including ¥232 million for the acquisition of property, plant and equipment, while it increased due to proceeds including ¥437 million from the sale of property, plant and equipment.」
The company recorded ¥437 million in proceeds from the sale of property, plant and equipment and continued selling assets to improve asset efficiency and its financial position. Meanwhile, the equity ratio declined from 13.5% at the end of the previous consolidated fiscal year to 13.1%, and the report did not state that improvement had been completed. - FY2017-Q1AdvancedAnnual report
「Reason for the transfer: to improve the financial position and asset efficiency」
The company sold idle assets for ¥199 million as a specific measure to improve its financial position and asset efficiency. At the end of the quarter, however, the equity ratio declined from 13.5% to 12.0% due to an increase in short-term borrowings and other factors. - FY2016First statedAnnual report
「In addition to pursuing revenue growth, we will strengthen our financial base through the efficient management of assets held and thorough inventory control aimed at maintaining appropriate inventory levels. In this way, we aim to improve the equity ratio and reduce interest-bearing debt.」
The company aims to improve its equity ratio and reduce interest-bearing debt through greater asset efficiency and inventory management.