Improving capital efficiency with a target ROE of 8% or higher
First written in FY2017. 8 of 21 entries say "Worsened", first in FY2024-Q2. Latest entry: 2026-11-05.
Hiraki moved to the "Worse" side of this theme in 2024, 1 year after the typical company in this theme (2023).
The whole theme swung hardest in 2021: 28 of 110 companies on the "Worse" side.
18 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In the current consolidated fiscal year, the second year of the plan, ROE was -6.8% and the equity ratio was 41.6%. Although ROE improved by 4.4 percentage points from the end of the previous consolidated fiscal year, this was due to the impact of recording an extraordinary loss of ¥607 million in the previous fiscal year. We recognize that the primary cause of the net loss for the current fiscal year was insufficient sales.」
Against the 2026 Medium-Term Management Plan targets of ROE of 5% or higher and an equity ratio of 47%, second-year results were ROE of -6.8% and an equity ratio of 41.6%, both below target. - 2026-05-15WorsenedRevisions to earnings forecasts
「自己資本比率は、前連結会計年度末に比べ1.6ポイント低下し、41.6％となりました。」
自己資本比率は2026中期経営計画の47％目標を下回ったまま、前期末の43.2％から41.6％へ低下した。 - FY2026-H1WorsenedAnnual report
「The equity ratio fell 2.4 percentage points from the end of the previous consolidated fiscal year to 40.8%.」
The equity ratio fell from 43.2% at the end of the previous consolidated fiscal year to 40.8%, widening the gap against the 47% target under the 2026 Medium-Term Management Plan. - FY2025WorsenedAnnual report
「Under the 2026 Medium-Term Management Plan (fiscal 2024 through fiscal 2026), our group has set targets of ROE of 5% or higher from the perspective of capital efficiency and an equity ratio of 47% from the perspective of financial soundness. In the current consolidated fiscal year, the plan's first year, operating income improved by ¥42 million from the previous fiscal year, but remained an operating loss of ¥3 million. As a result, we recorded an extraordinary loss of ¥607 million due to impairment losses. Consequently, ROE was -11.2% and the equity ratio was 43.2%, both down from the end of the previous consolidated fiscal year.」
Against the 2026 Medium-Term Management Plan targets of ROE of 5% or higher and an equity ratio of 47%, first-year results were ROE of -11.2% and an equity ratio of 43.2%, with both falling below target. - FY2025-H1WorsenedAnnual report
「The equity ratio fell 2.0 percentage points from the end of the previous consolidated fiscal year to 43.2%.」
The equity ratio fell from 45.2% at the end of the previous fiscal year to 43.2%, remaining below the 47% target under the 2026 Medium-Term Management Plan. - FY2024SoftenedAnnual report
「Achieving long-term, stable growth in corporate value requires higher capital profitability and a stronger financial foundation capable of withstanding the effects of foreign exchange fluctuations and other factors. Accordingly, we will aim for ROE of 5% or higher, above the shareholder capital cost assumed by our group, and an equity ratio of 47%.」
The ROE target was lowered from the previous target of 9% or higher to 5% or higher under the new plan for fiscal 2024 through fiscal 2026, with an equity ratio of 47% also included. ROE for the fiscal year ended March 2024 was -0.2%. - FY2024-Q3Equity ratio partially recovered while remaining below targetAnnual report
「The equity ratio fell 1.2 percentage points from the end of the previous consolidated fiscal year to 44.1%.」
The equity ratio fell from 45.3% at the end of the previous fiscal year to 44.1%, below the target of 45% or higher. It recovered from 42.8% at the end of the second quarter. - FY2024-Q2WorsenedAnnual report
「The equity ratio fell 2.3 percentage points from the end of the previous consolidated fiscal year to 43.0%.」
The equity ratio fell from 45.3% at the end of the previous fiscal year to 43.0%, leaving it below the target equity ratio of 45% or higher. - FY2024-Q1Equity ratio declined while remaining below targetAnnual report
「The equity ratio fell 2.9 percentage points from the end of the previous consolidated fiscal year to 42.4%.」
The equity ratio fell from 45.3% at the end of the previous fiscal year to 42.4%, again falling below the target of 45% or higher. - FY2023Equity ratio target achieved, but ROE below targetAnnual report
「The equity ratio at the end of the current consolidated fiscal year was 45.3%, marking improvement for the seventh consecutive fiscal year since the fiscal year ended March 2017. We will continue to focus on reducing interest-bearing debt and aim to achieve zero net interest-bearing debt. Meanwhile, ROE for the current consolidated fiscal year was 1.5%, down 4.9 percentage points from the previous fiscal year.」
The equity ratio exceeded the target of 45% or higher and improved for the seventh consecutive fiscal year, while ROE fell to 1.5%, leaving the target of 9% or higher unmet. - FY2023-Q3Equity ratio declined in the third quarterAnnual report
「The equity ratio fell 0.1 percentage points from the end of the previous consolidated fiscal year to 44.2%.」
The equity ratio fell from 44.3% at the end of the previous consolidated fiscal year to 44.2%, remaining below the target of 45% or higher. - FY2023-Q2Equity ratio declined in the interim periodAnnual report
「The equity ratio fell 1.5 percentage points from the end of the previous consolidated fiscal year to 42.8%.」
The equity ratio fell from 44.3% at the end of FY2022 to 42.8%, widening the gap against the target equity ratio of 45% or higher. - FY2023-Q1Quarterly equity ratio decreasedAnnual report
「The equity ratio fell 2.1 percentage points from the end of the previous consolidated fiscal year to 42.2%.」
The equity ratio fell from 44.3% at the end of FY2022 to 42.2% at the end of the first quarter, widening the gap against the target equity ratio of 45% or higher. - FY2022Both ROE and the equity ratio below targetAnnual report
「Under the 2023 Medium-Term Management Plan (fiscal 2021 through fiscal 2023), our group has set targets of an equity ratio of 45% or higher from the perspective of financial soundness and ROE of 9% or higher from the perspective of capital efficiency.」
The equity ratio was 44.3%, below the target of 45% or higher, while ROE was 6.4%, below the target of 9% or higher. Strengthening the financial foundation and improving asset efficiency remain ongoing challenges. - FY2021SoftenedAnnual report
「In addition, to achieve long-term, stable growth in corporate value, we will strengthen our financial foundation by reducing interest-bearing debt and take other measures, while improving capital efficiency through more effective use of assets. We will aim for an equity ratio of 45% or higher and ROE of 9% or higher.」
The ROE target was revised from the previous target of 10% or higher to 9% or higher under the new medium-term plan, with an equity ratio of 45% or higher newly added. - FY2020Wider shortfall against ROE targetAnnual report
「In addition, from the perspective of efficient capital utilization, our group has set a target of ROE of 10% or higher. ROE for the current consolidated fiscal year was 5.0%, down 4.1 percentage points year on year. We will continue to promote management that emphasizes returns on investment.」
The target of ROE of 10% or higher remains unchanged, but actual ROE was 5.0%, down from 9.1% in the previous fiscal year, widening the shortfall against the target. - FY2019ROE below targetAnnual report
「In addition, from the perspective of using capital efficiently, our group has set a target of a return on equity (ROE) of 10% or more under its medium-term management plan for FY2018-FY2020. Return on equity (ROE) for the current consolidated fiscal year was 9.1%. We will continue to promote management that emphasizes investment returns.」
The target of ROE of 10% or higher for fiscal 2018 through fiscal 2020 remains unchanged, but ROE for the current consolidated fiscal year was 9.1%, below the target. - FY2018RaisedAnnual report
「Under the three-year medium-term management plan beginning in FY2018, we will seek to use capital efficiently and achieve ROE of 10% or more.」
It states that the company achieved ROE of 13.0% in the final year against the target of ROE of 8% or more under the FY2015-FY2017 plan. It then raised the target under the new three-year plan to ROE of 10% or more. - FY2017First statedAnnual report
「In its medium-term management plan for FY2015–FY2017, the Group aims to achieve ROE of at least 8% through efficient use of capital, based on the view that steadily generating profits exceeding the cost of capital and borrowing costs is necessary to achieve long-term, stable growth in corporate value.」
It identified, for the first time as a separate theme, a target ROE of 8% or more as a specific capital-efficiency target in the medium-term management plan for FY2015-FY2017. It states that ROE was 10.4% for the fiscal year ended March 2017.