Financial Policy Using a 40% Equity Ratio as a Benchmark
First written in FY2017. 22 of 33 entries say "Advanced", first in FY2018-Q1. Latest entry: 2026-09-11.
The whole theme swung hardest in 2019: 3 of 22 companies on the "Worse" side.
10 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「The equity ratio was 46.9% (45.7% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 45.7% at the end of July 2025 to 46.9%, further exceeding the level under the policy of using 40% as a financial indicator. - FY2025-H1AdvancedAnnual report
「The equity ratio was 46.1% (42.1% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 42.1% at the end of the previous consolidated fiscal year to 46.1%, further exceeding the level under the policy of using an equity ratio of 40% as a financial indicator. - FY2024AdvancedAnnual report
「The equity ratio was 42.1%.」
The equity ratio rose from 35.7% in the previous fiscal year to 42.1%, exceeding the level under the policy of using 40% as a financial indicator. - FY2024-Q3AdvancedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥8,477 million, an increase of ¥1,587 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in retained earnings resulting from the recognition of quarterly net income attributable to owners of the parent. The equity ratio was 40.3% (35.7% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 35.7% at the end of the previous consolidated fiscal year to 40.3%, exceeding for the first time the level under the policy of using 40% as a financial indicator. - FY2024-Q2AdvancedAnnual report
「Net assets at the end of the second quarter of the current consolidated fiscal year were ¥7,869 million, an increase of ¥979 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in retained earnings resulting from the recognition of quarterly net income attributable to owners of the parent. The equity ratio was 38.8% (35.7% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 35.7% at the end of the previous consolidated fiscal year to 38.8%, approaching the level under the policy of using 40% as a financial indicator. - FY2024-Q1AdvancedAnnual report
「Net assets at the end of the first quarter of the current consolidated fiscal year were ¥7,308.7 million, an increase of ¥418.6 million from the end of the previous consolidated fiscal year. The equity ratio was 37.8% (35.7% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 35.7% at the end of the previous consolidated fiscal year to 37.8%, moving closer to the policy benchmark of 40%. - FY2023AdvancedAnnual report
「The equity ratio was 35.7%.」
The equity ratio rose from 34.3% in the previous fiscal year to 35.7%, moving closer to the 40% financial benchmark but remaining below it. - FY2023-Q3AdvancedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥6,656.8 million, an increase of ¥319.5 million from the end of the previous consolidated fiscal year. This was mainly because retained earnings increased due to the recognition of quarterly net income attributable to owners of the parent. The equity ratio was 34.7% (34.3% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 34.3% at the end of the previous consolidated fiscal year to 34.7%. Although it remains below the policy benchmark of 40%, recovery toward that level is progressing. - FY2023-Q2AdvancedAnnual report
「The equity ratio was 34.5% (34.3% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 34.3% at the end of the previous consolidated fiscal year to 34.5%, moving closer to the 40% benchmark but remaining below it. - FY2023-Q1AdvancedAnnual report
「Net assets at the end of the first quarter of the current consolidated fiscal year were ¥6,337.2 million, down ¥0.1 million from the end of the previous consolidated fiscal year. The equity ratio was 36.4% (34.3% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 34.3% at the end of the previous consolidated fiscal year to 36.4%, moving closer to the 40% benchmark but remaining below it. - FY2022Equity ratio declines slightly from the previous quarter but rises from the previous fiscal year-endAnnual report
「The equity ratio was 34.3%.」
The equity ratio rose from 31.0% at the previous fiscal year-end to 34.3%, but declined slightly from 34.8% in the previous quarter and remains below the 40% benchmark. - FY2022-Q3AdvancedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥6,343.4 million, an increase of ¥1,122.2 million from the end of the previous consolidated fiscal year. This was mainly because retained earnings increased due to the recognition of quarterly net income attributable to owners of the parent. The equity ratio was 34.8% (31.0% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 31.0% at the end of the previous consolidated fiscal year to 34.8%, moving closer to the policy benchmark of 40%. - FY2022-Q2Equity ratio declines slightly from the previous quarterAnnual report
「The equity ratio was 33.6% (31.0% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 31.0% at the end of the previous consolidated fiscal year, but declined slightly from 33.8% in the previous quarter to 33.6%, remaining below the 40% financial benchmark. - FY2022-Q1AdvancedAnnual report
「This was mainly because retained earnings increased due to the recognition of quarterly net income attributable to owners of the parent. The equity ratio was 33.8% (31.0% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 31.0% at the end of the previous consolidated fiscal year to 33.8%, but remains below the policy benchmark of 40%. - FY2021AdvancedAnnual report
「Taking into consideration the balance between securing working capital to maintain financial soundness and stability and capital efficiency, we use an equity ratio of 40% as a financial benchmark.」
The consolidated equity ratio was 31.0%, up from 26.1% in the previous quarter. However, it remained below the 40% benchmark. - FY2021-Q3WorsenedAnnual report
「Equity ratio (%) 26.1」
The equity ratio was 26.1%, significantly below the previous financial policy benchmark of 40%. No comparative information is provided due to the transition to consolidated accounting. - FY2021-Q2WorsenedAnnual report
「This was because retained earnings decreased due to the recognition of a quarterly net loss. The equity ratio was 27.9% (28.4% at the end of the previous fiscal year).」
The equity ratio declined from 28.4% at the end of the previous fiscal year to 27.9%, remaining significantly below the 40% benchmark in the financial policy. - FY2021-Q1AdvancedAnnual report
「This was because retained earnings decreased due to the recognition of a quarterly net loss. The equity ratio was 28.9% (28.4% at the end of the previous fiscal year).」
The equity ratio rose slightly from 28.4% at the end of the previous fiscal year to 28.9%, but remains below the 40% benchmark in the financial policy. - FY2020WorsenedAnnual report
「This was because retained earnings decreased due to the recognition of a net loss for the period, as well as dividend payments and other factors. The equity ratio was 28.4% (38.1% at the end of the previous fiscal year).」
The equity ratio declined from 38.1% at the end of the previous fiscal year to 28.4%, falling significantly below the 40% benchmark in the financial policy. - FY2020-Q3Equity ratio falls below the 40% benchmarkAnnual report
「This was mainly because retained earnings decreased due to the recognition of a quarterly net loss and dividend payments. The equity ratio was 39.3% (38.1% at the end of the previous fiscal year).」
The equity ratio rose from 38.1% at the end of the previous fiscal year to 39.3%, but remained below the 40% benchmark in the financial policy. It declined from 42.5% at the end of the previous quarter. - FY2020-Q2AdvancedAnnual report
「This was mainly because retained earnings increased due to the recognition of quarterly net income, while decreasing due to dividend payments. The equity ratio was 42.5% (38.1% at the end of the previous fiscal year).」
The equity ratio rose from 38.1% at the end of the previous fiscal year to 42.5%, exceeding the 40% benchmark in the financial policy. - FY2020-Q1AdvancedAnnual report
「This was because retained earnings increased due to the recognition of quarterly net income, while decreasing due to dividend payments. The equity ratio was 40.9% (38.1% at the end of the previous fiscal year).」
The equity ratio rose from 38.1% at the end of the previous fiscal year to 40.9%, exceeding the 40% benchmark in the financial policy. - FY2019Equity ratio at the fiscal year-end remains below the 40% benchmark but rises from the previous fiscal year-endAnnual report
「The equity ratio was 38.1% (36.7% at the end of the previous fiscal year).」
The equity ratio rose 1.4 percentage points from the previous fiscal year-end, but remained below the 40% benchmark in the financial policy. - FY2019-Q3Equity ratio declines from the previous quarter but rises from the fiscal year-endAnnual report
「The equity ratio was 38.8% (36.7% at the end of the previous fiscal year).」
The equity ratio rose from 36.7% at the end of the previous fiscal year to 38.8%, but declined from 39.8% in the previous quarter and remains below the 40% benchmark in the financial policy. - FY2019-Q2AdvancedAnnual report
「This was mainly because retained earnings increased due to the recognition of quarterly net income, while decreasing due to dividend payments and other factors. The equity ratio was 39.8% (36.7% at the end of the previous fiscal year).」
The equity ratio rose from 36.7% at the end of the previous fiscal year to 39.8%, moving closer to the 40% benchmark in the financial policy. - FY2019-Q1AdvancedAnnual report
「The equity ratio was 38.9% (36.7% at the end of the previous fiscal year).」
The equity ratio rose from 36.7% at the end of the previous fiscal year to 38.9%, moving closer to the 40% benchmark in the financial policy, but remained below it. - FY2018Equity ratio falls below the 40% benchmarkAnnual report
「The equity ratio was 36.7% (39.7% at the end of the previous fiscal year).」
The equity ratio declined from 39.7% at the end of the previous fiscal year to 36.7%, falling below the 40% benchmark in the financial policy. - FY2018-Q3Equity ratio falls below the 40% benchmarkAnnual report
「The equity ratio was 38.6% (39.7% at the end of the previous fiscal year).」
The equity ratio declined from 41.6% in the previous quarter to 38.6%, falling below the 40% benchmark in the financial policy. - FY2018-Q2AdvancedAnnual report
「This was mainly because retained earnings increased due to the recognition of quarterly net income, while decreasing due to dividend payments and other factors. The equity ratio was 41.6% (39.7% at the end of the previous fiscal year).」
The equity ratio rose from 39.7% at the end of the previous fiscal year to 41.6%, exceeding the 40% benchmark in the financial policy. - FY2018-Q1AdvancedAnnual report
「The equity ratio was 41.0% (39.7% at the end of the previous fiscal year).」
The equity ratio rose from 39.7% at the end of the previous fiscal year to 41.0%, exceeding the 40% benchmark in the financial policy. - FY2017First statedAnnual report
「Our financial policy is to maintain a certain level of financial soundness by using an equity ratio of 40% as a benchmark, although the equity ratio is expected to decline as we accelerate growth and expand the scale of our operations.」
The Company has stated for the first time its policy of maintaining financial soundness with an equity ratio of around 40%, while anticipating a decline in the equity ratio as operations expand.