Improving PBR through Management Focused on Cost of Capital and Share Price
First written in FY2024. 5 of 8 entries say "Advanced", first in FY2025. Latest entry: 2026-09-25.
21 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「In response to the Tokyo Stock Exchange’s request for action to achieve management that is conscious of capital costs and share prices, we will pursue initiatives to improve the price-to-book ratio (PBR). In growth investment, in addition to increasing the number of stores, mainly through new openings, we will promote investment in the foundations supporting future growth, including strengthening our digital and IT capabilities and logistics infrastructure and deepening the SPA business model. The return on equity (ROE) for the fiscal year ending February 2025 was 9.3%, exceeding the cost of capital of approximately 5% to 6%.」
The Company continues its policy of growth investment aimed at improving its PBR, and ROE was 9.3%. The stated assumption for the cost of capital changed from approximately 6–7% previously to approximately 5–6%. - FY2024First statedAnnual report
「In response to the Tokyo Stock Exchange's request concerning “actions to achieve management that is conscious of the cost of capital and share price,” the company will pursue initiatives to improve its price-to-book ratio (PBR). In growth investment, in addition to increasing the number of stores, primarily through new openings, the company will promote investment in foundations supporting future growth, including strengthening its digital and IT capabilities and logistics infrastructure and deepening its SPA business model. ROE for the fiscal year ended February 2024 was 8.7%, exceeding the cost of capital of approximately 6% to 7%.」
The Company has identified improving its PBR as a new theme for enhancing corporate value, and has indicated growth investment in new store openings, digital and IT, logistics and SPA, together with ROE of 8.7%, exceeding its cost of capital of approximately 6–7%.