Financial Strategy Focused on Free Cash Flow Generation and Improving ROE
First written in FY2016. 18 of 27 entries say "Advanced", first in FY2017. Latest entry: FY2027-H1.
The whole theme swung hardest in 2026: 8 of 49 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2027-H1Updated FY2027-H1 cash flow resultsAnnual report
「Cash flows from operating activities resulted in income of ¥38,017 million.」
Under the financial strategy, cash flows from operating activities were ¥38,017 million and free cash flow was ¥11,221 million for the interim period. - FY2026RaisedAnnual report
「Under this medium-term management plan, we will generate at least ¥250 billion in cash flow from operating activities and other sources over 3 years, including depreciation of right-of-use assets, and allocate ¥195 billion of this to capital investment and growth-strategy investment.」
The target for generating cash flow from operating activities and other sources for fiscal 2024–2026 was raised from the previously stated ¥220 billion or more to ¥250 billion or more. The investment allocation remains ¥195 billion. - 2026-04-14AdvancedFinancial Results Presentation
「Total investment 26,471 42,000」
The capital allocation plan increases total investment from the current period's ¥26,471 million to ¥42,000 million in the next period. - FY2026-H1Updated FY2026 interim cash flow resultsAnnual report
「Cash flow from operating activities was ¥33.548 billion.」
Interim-period cash flow from operating activities was ¥33.548 billion and free cash flow was ¥28.943 billion. Cash flow from operating activities decreased from ¥48.982 billion in the same period of the previous fiscal year. - FY2025AdvancedAnnual report
「Under this medium-term management plan, we will generate at least ¥220 billion in cash flow from operating activities over 3 years, including depreciation of right-of-use assets, and allocate ¥195 billion of this to capital investment and growth-strategy investment.」
The financial strategy was translated into a new capital allocation plan comprising at least ¥220 billion in cash flow from operating activities for fiscal 2024–2026 and ¥195 billion in capital investment and growth-strategy investment. - FY2025-H1AdvancedAnnual report
「Cash flow from operating activities was ¥48.982 billion. Compared with the previous interim consolidated accounting period, cash inflow increased by ¥11.917 billion, mainly because interim profit before tax increased.」
Regarding the financial strategy, cash flow from operating activities for the interim period was ¥48.982 billion and free cash flow was ¥39.011 billion. Cash flow from operating activities increased from the same period of the previous fiscal year. - FY2025-Q1Updated first-quarter cash flow resultsAnnual report
「Cash flow from operating activities was ¥11.049 billion.」
Regarding the financial strategy, first-quarter cash flow from operating activities was ¥11.049 billion and free cash flow was ¥8.632 billion. Cash flow from operating activities decreased from ¥18.856 billion in the same period of the previous fiscal year. - FY2024-Q3AdvancedAnnual report
「Cash flow from operating activities was ¥61.431 billion. Compared with the cumulative third quarter of the previous fiscal year, cash inflow increased by ¥14.632 billion, mainly due to an increase in profit before tax for the quarter.」
Regarding the financial strategy, cumulative third-quarter cash flow from operating activities was ¥61.431 billion and free cash flow was ¥76.773 billion, an increase from the same period of the previous fiscal year. - FY2024-Q2AdvancedAnnual report
「Cash flow from operating activities was ¥37.065 billion. Compared with the cumulative second quarter of the previous fiscal year, cash inflow increased by ¥12.074 billion, mainly due to an increase in profit before tax for the quarter.」
Regarding the financial strategy, cash flow from operating activities for the cumulative second quarter was ¥37.065 billion, and free cash flow was ¥36.393 billion. - FY2024-Q1AdvancedAnnual report
「Cash flow from operating activities was ¥18.856 billion. Compared with the first quarter of the previous fiscal year, cash inflow increased by ¥11.035 billion, mainly due to an increase in profit before tax for the quarter.」
Regarding the financial strategy, first-quarter cash flow from operating activities was ¥18.856 billion, up ¥11.035 billion year on year. Free cash flow was also ¥21.068 billion. - FY2023ReframedAnnual report
「We will generate at least ¥190 billion in cash flow from operating activities over 3 years, including depreciation of right-of-use assets, and allocate ¥60 billion of this to growth and capital investment. We will reduce interest-bearing debt, excluding lease liabilities, to ¥225 billion by the end of fiscal 2023.」
The financial policy figures were updated from the previous year’s stated ¥90 billion in growth and capital investment and ¥260 billion in interest-bearing debt to ¥60 billion and ¥225 billion, respectively. The cash flow from operating activities target remains at ¥190 billion or more. - FY2023-Q3AdvancedAnnual report
「Total assets at the end of the third quarter of the consolidated fiscal period were ¥1,167.723 billion. This was a decrease of ¥25.184 billion from the end of the previous consolidated fiscal year, mainly due to the gradual reduction of cash and deposits on hand as performance recovered. Total liabilities were ¥798.261 billion, a decrease of ¥32.526 billion from the end of the previous consolidated fiscal year, mainly due to reductions in cash and deposits on hand and interest-bearing debt.」
The company reduced cash and deposits on hand as performance recovered and reduced interest-bearing debt, progressing from measures focused on financial stability toward optimizing funds and debt. - FY2023-Q2AdvancedAnnual report
「Total assets at the end of the second quarter of the consolidated fiscal period were ¥1,161.035 billion. This was a decrease of ¥31.872 billion from the end of the previous consolidated fiscal year, mainly due to the gradual reduction of cash and deposits on hand. Total liabilities were ¥792.332 billion, a decrease of ¥38.455 billion from the end of the previous consolidated fiscal year, mainly due to the reduction of interest-bearing debt.」
Regarding the financial strategy, the company gradually reduced cash and deposits on hand and reduced interest-bearing debt. Cash flow from operating activities was ¥24.991 billion and free cash flow was ¥18.669 billion. - FY2023-Q1AdvancedAnnual report
「Cash flow from operating activities was ¥7.821 billion.」
Regarding the financial strategy, cash flow from operating activities was ¥7.821 billion and free cash flow was ¥4.667 billion in the first quarter. - FY2022AdvancedAnnual report
「We will generate at least ¥190 billion in cash flow from operating activities over 3 years, including depreciation of right-of-use assets, and allocate ¥90 billion of this to growth and capital investment. We will reduce interest-bearing debt, excluding lease liabilities, to ¥260 billion by the end of fiscal 2023.」
The financial strategy was translated into a specific capital allocation plan comprising at least ¥190 billion in cash flow from operating activities through fiscal 2023, ¥90 billion in growth and capital investment, and a reduction in interest-bearing debt to ¥260 billion. - FY2022-Q2RestatedAnnual report
「The company is securing financial stability and liquidity by continuing this fiscal year the measures implemented last fiscal year, including curbing investment, reducing expenses, building cash reserves, and increasing financing capacity.」
The company prioritizes financial stability and liquidity and continues to curb investment, reduce expenses, build cash reserves, and increase financing capacity. - FY2022-Q1RestatedAnnual report
「As part of our response to COVID-19, we have continued thorough hygiene management to ensure safety and peace of mind. From a financial perspective, to ensure business continuity and management stability, we have secured financial stability and liquidity by continuing this fiscal year the measures implemented last fiscal year, including curbing investment, reducing expenses, building cash reserves, and increasing financing capacity, in preparation for the possibility that the impact of the infection could exceed expectations.」
To secure financial stability and liquidity, the company will continue this fiscal year to curb investment, reduce expenses, build cash reserves, and increase financing capacity. - FY2021AdvancedAnnual report
「At the end of the consolidated fiscal year, cash and cash equivalents totaled ¥128.925 billion, an increase of ¥94.292 billion from the end of the previous consolidated fiscal year. This was due to the accumulation of cash on hand to secure financial stability.」
Regarding measures focused on financial stability, the company secured cash and cash equivalents of ¥128.925 billion by building cash reserves. - FY2021-Q3AdvancedAnnual report
「At the end of the third quarter of the consolidated fiscal period, cash and cash equivalents totaled ¥121.012 billion, an increase of ¥86.379 billion from the end of the previous consolidated fiscal year. This was due to the accumulation of cash on hand to secure financial stability.」
Regarding measures focused on financial stability, the company built cash reserves and secured cash and cash equivalents of ¥121.012 billion. It continued to curb investment, cut costs, and increase financing capacity. - FY2021-Q2AdvancedAnnual report
「At the end of the second quarter of the consolidated fiscal period, cash and cash equivalents totaled ¥124.377 billion, an increase of ¥89.744 billion from the end of the previous consolidated fiscal year. This was due to the accumulation of cash on hand to secure financial stability.」
Regarding measures focused on financial stability, the company built cash reserves and secured cash and cash equivalents of ¥124.377 billion. It also curbed investment, implemented additional cost reductions, and increased financing capacity. - FY2021-Q1AdvancedAnnual report
「Against this backdrop, to secure financial stability and liquidity on hand, our group is curbing investment and cutting nonessential costs, while taking measures including building cash reserves and increasing financing capacity to secure working capital for the immediate future.」
The policy of prioritizing free cash flow generation and financial stability was translated into specific measures: curbing investment, cutting nonessential costs, building cash reserves, and increasing financing capacity. - FY2019AdvancedAnnual report
「To build a management structure with high capital efficiency, we continued management based on store-level balance sheets at the core department stores and newly advanced plans to optimize the capital structures of each operating company. We also worked to improve investment efficiency and earnings through business operations based on investment and exit criteria, with the aim of increasing free cash flow.」
The company continued store-level balance sheet management and began plans to optimize the capital structures of each operating company, while continuing operations based on investment and exit criteria. - FY2018AdvancedAnnual report
「To improve asset efficiency, we implemented management based on store-level balance sheets at the core stores of Daimaru Matsuzakaya Department Stores. In addition, to increase free cash flow, we worked to improve investment efficiency and earnings through business operations based on investment and exit criteria.」
The company implemented store-level balance sheet management and began operating businesses based on investment and exit criteria. Cash flow from operating activities was ¥57.079 billion. - FY2017AdvancedAnnual report
「As part of efforts to improve asset efficiency, we established the framework needed to begin managing performance based on budgets for each store’s balance sheet at the 9 core department stores from fiscal 2017.」
Regarding the financial strategy focused on asset and capital efficiency, the company established the framework to begin managing the balance sheets of each of the 9 core department stores from fiscal 2017. - FY2016First statedAnnual report
「We will further strengthen management from the perspectives of asset efficiency and capital efficiency, with a focus on the balance sheet and cost of capital, and implement financial measures centered on generating free cash flow and improving ROE.」
The policy is to focus on asset efficiency and capital efficiency in addition to earnings, clarify investment and exit criteria, and optimize the allocation of resources.