Capital Allocation Based on Business Evaluation Guidelines
First written in FY2016. 5 of 9 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2021: 3 of 11 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「At least once a year, we evaluate the profitability and growth potential of existing businesses, focusing on ROIC and CAGR (five-year average revenue growth rate), and make decisions not only on continuing investment, scaling back or withdrawing from businesses, but also on investments in new businesses and M&A investments aimed at realizing our long-term vision.」
The filing reconfirms the policy of evaluating businesses at least once a year using ROIC and CAGR and making decisions on continuing investment, scaling back, withdrawing from businesses and pursuing M&A, among other measures. - 2026-06-03AdvancedGeneral Meetings of Shareholders
「Among these initiatives, in the pharmaceutical business, one of the major challenges for the Group, namely the unapproved-drug introduction support business, the Company newly established 株式会社メドリープファーマ, a consolidated subsidiary, on 16 September 2025. Research and development is progressing, including the advancement of its novel drug candidate, maltol ferric iron (development code: ST10), to Phase 2 trials.」
Regarding the review of the business portfolio and investment in new businesses under Medium-Term Management Plan 2027, specifically describes progress in research and development in the pharmaceutical business. - FY2026-H1RestatedAnnual report
「As a company listed on the TSE Prime Market, we are fully incorporating a group management approach focused on the cost of capital, with the aim of achieving sustainable growth for the Group and enhancing corporate value over the medium to long term. In addition to strengthening the earnings power of existing businesses and reviewing the businesses themselves, we are pursuing proactive growth investments.」
The filing reconfirms capital deployment and business development with a focus on the cost of capital as an initiative under Medium-Term Management Plan 2027, including reviews of existing businesses and proactive growth investments. - FY2025AdvancedAnnual report
「At least once a year, we evaluate the profitability and growth potential of existing businesses, focusing on ROIC and CAGR (five-year average revenue growth rate), and make decisions not only on continuing investment, scaling back or withdrawing from businesses, but also on investments in new businesses and M&A investments aimed at realizing our long-term vision.」
The framework has been made more specific, moving from capital deployment based on business evaluation guidelines and with a focus on the cost of capital to business evaluations at least once a year using ROIC and CAGR, and decisions on scaling back or withdrawing from businesses and investing in new businesses and M&A. - FY2020RestatedAnnual report
「Capital deployment and business development with a focus on the cost of capital」
The policy of capital deployment and business development with a focus on the cost of capital, changed from the business evaluation guidelines, is continuing. - FY2019ReframedAnnual report
「Capital deployment and business development with a focus on the cost of capital」
The wording has been changed from capital deployment under business evaluation guidelines to capital deployment and business development with a focus on the cost of capital. - FY2018RestatedAnnual report
「We will formulate business evaluation guidelines and work to deploy capital effectively and efficiently.」
The policy for capital deployment based on business evaluation guidelines is continuing. - FY2017RestatedAnnual report
「We will formulate business evaluation guidelines and work to deploy capital effectively and efficiently.」
The policy for capital deployment based on business evaluation guidelines has been reiterated. - FY2016First statedAnnual report
「We will formulate business evaluation guidelines and work to deploy capital effectively and efficiently.」
A management initiative linking business evaluation with capital deployment.