Balancing Investment, Retained Earnings and Dividends, and Managing ROE and Dividend Payout Ratio Targets
First written in FY2016. 2 of 8 entries say "Restated". Latest entry: FY2026.
17 other companies' latest entry also says "Other".
- FY2026ROE recovered to 7.59%Annual report
「Return on equity (%) 5.97 8.47 10.71 4.02 7.59」
Return on equity rose from 4.02% in the previous fiscal year to 7.59%, but remained below the previously stated ROE target of 10%. - FY2025ROE result fell to 4.02%Annual report
「Return on equity (%) 7.23 5.97 8.47 10.71 4.02」
Return on equity fell from 10.71% in the previous fiscal year to 4.02%, with the disclosed result below the previous ROE target of 10%. - FY2023ROE result updated to 8.47%Annual report
「Return on equity (%) 7.42 6.25 7.23 5.97 8.47」
Return on equity of 8.47% for the fiscal year ended April 2023 was disclosed as a key management metric. - FY2022ROE results disclosedAnnual report
「Return on equity (%) 8.09 7.42 6.25 7.23 5.97」
Return on equity of 5.97% for the fiscal year ended April 2022 was disclosed as a key management metric. - FY2020RestatedAnnual report
「As we respond to competition from energy providers following energy liberalisation and intensifying competition in the water industry, we have set ROE at 10% as the metric for determining how to improve productivity and capital efficiency.」
The target of 10% ROE as a measure of capital efficiency has been reaffirmed. - FY2019RestatedAnnual report
「We have set ROE at 10% as the metric for determining how to improve productivity and capital efficiency.」
The target of 10% ROE as a measure of capital efficiency was reaffirmed in the annual filing. - FY2017RaisedAnnual report
「As a result of making continuous and prudent investments to expand our business platform, we have set a target of ROE (return on shareholders' equity) of at least 10% as a measure of our ability to return profits to shareholders.」
In addition to the previous practice of setting target metrics for ROE and the dividend payout ratio, a specific numerical target of ROE of at least 10% has been stated. - FY2016First statedAnnual report
「Specifically, we have set target metrics for ROE (return on equity) and the dividend payout ratio in order to use management capital effectively.」
The financial policy calls for investment funds, retained earnings and shareholder dividends as its basic items, with target metrics set for ROE and the dividend payout ratio.