Capital Allocation Focused on Generating Profits Above the Cost of Capital and Achieving ROE of 30%
First written in FY2016. 2 of 7 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 1 of 12 companies on the "Worse" side.
3 other companies' latest entry also says "Other".
- FY2026ROE remained high but declined from the previous yearAnnual report
「ROE for the current consolidated fiscal year was 46.6% (49.4% in the previous year), remaining high and substantially exceeding the target.」
The company continued its policy of using ROE of 30% as a benchmark. ROE exceeded the target but declined from the previous year. - 2026-06-06RestatedGeneral Meetings of Shareholders
「To achieve continued expansion and development of the business while securing retained earnings sufficient for that purpose, taking into account a level of 30% for return on equity (ROE), we intend to actively return to shareholders any amount in excess of that level, while also taking liquidity into consideration.」
The company continued to describe its policy of retaining earnings and returning profits to shareholders with an ROE of 30% in mind. - FY2022ROE remained high but declined from the previous yearAnnual report
「ROE for the current consolidated fiscal year was 62.5% (68.8% in the previous year), remaining high and substantially exceeding the target.」
The company continued its policy of emphasizing capital efficiency, using ROE of 30% as a benchmark. ROE exceeded the target but declined from 68.8% in the previous year to 62.5%. - FY2021AdvancedAnnual report
「ROE for the current consolidated fiscal year was 68.8% (65.9% in the previous year), up year on year. It remained high and substantially exceeded the target.」
The company continued its policy of emphasizing capital efficiency, using ROE of 30% as a benchmark, and ROE increased from 65.9% to 68.8%. - FY2020AdvancedAnnual report
「ROE for the current consolidated fiscal year was 65.9% (50.5% in the previous year), up year on year. It remained high and substantially exceeded the target.」
The company continued its policy of using ROE of 30% as a benchmark, and ROE increased from 50.5% in the previous year to 65.9%. - FY2018RestatedAnnual report
「As a specific target, we use ROE of 30% as a benchmark, taking into account the ROE levels of globally comparable companies. ROE for the current consolidated fiscal year was 57.4% (72.7% in the previous year), down year on year, but remained high and substantially exceeded the target.」
The company continued its policy of emphasizing capital efficiency, using ROE of 30% as a benchmark, and explained that current-period ROE of 57.4% exceeded the benchmark. - FY2016First statedAnnual report
「We believe that generating returns exceeding the cost of capital increases corporate value and enables us to satisfy all stakeholders, including shareholders. Specifically, while targeting an ROE of 30%, we will secure retained earnings to achieve the continued expansion and development of our businesses. We intend to actively return to shareholders any excess over that level, while also taking into account the need to improve liquidity.」
The capital policy linking ROE, retained earnings and shareholder returns was disclosed for the first time.