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J-Max (3422) · TargetWorsenedLatest Earnings (2026-08-06): "Mitigated"

Achieving a consolidated equity ratio of 40.0% or higher

First written in FY2020. 10 of 22 entries say "Advanced", first in FY2021-Q1. Latest entry: 2026-08-06.

22entries
7years
4from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2021-Q1 – FY2023-Q3OtherFY2025-H12020: 320202021: 320212022: 420222023: 320232024: 320242025: 120252026: 52026
Same theme, other companies
Optimal capital structure with a 40–50% equity ratio as a benchmarkA theme 46 companies write about · 2 as a headwind · 43 as a tailwind

J-Max moved to the "Worse" side of this theme in 2024, 1 year before the typical company in this theme (2025).

The whole theme swung hardest in 2019: 3 of 22 companies on the "Worse" side.

0 other companies' latest entry also says "Mitigated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 46 companies compared. The sentences above are computed from all 46.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-06MitigatedEarnings

    「First quarter of the fiscal year ending March 2027 61,495 22,237 33.2」

    The equity ratio rose from 30.8% at the end of the previous fiscal year to 33.2%, but remains below the previous target level of at least 40.0%.
  2. FY2026WorsenedAnnual report

    「Equity ratio (%) 39.0 41.7 38.5 32.2 30.8」

    The equity ratio declined from 32.2% at the end of the previous fiscal year to 30.8%, remaining below the previous target level of 40.0% or higher.
  3. FY2026-H1WorsenedAnnual report

    「Equity ratio (%) 38.9 30.0 32.2」

    The equity ratio declined from 38.9% in the same period of the previous fiscal year and 32.2% at the end of the previous consolidated fiscal year to 30.0% at the end of the interim consolidated accounting period. It remains below the previous target level of 40.0% or higher.
  4. FY2025-H1Slight increase while remaining below the target levelAnnual report

    「Equity ratio (%) 41.1 38.9 38.5」

    The equity ratio at the end of the interim consolidated accounting period was 38.9%, up from 38.5% at the end of the previous consolidated fiscal year, but below the previous target level of 40.0% or higher for the fiscal year ending March 2023.
  5. FY2024WorsenedAnnual report

    「Equity ratio (%) 25.2, 32.6, 39.0, 41.7, 38.5」

    The equity ratio declined from 41.7% at the end of the previous fiscal year to 38.5%, falling below the previous target level of 40.0% or higher.
  6. FY2024-Q3WorsenedAnnual report

    「Equity ratio (%) 42.0 36.5 41.7」

    The equity ratio at the end of the third quarter was 36.5%, below 42.0% at the end of the same quarter of the previous fiscal year and 41.7% at the end of the previous consolidated fiscal year. It is also below the previous target level of 40.0% or higher.
  7. FY2024-Q2Equity ratio remains above the target level but declines from the previous fiscal year-endAnnual report

    「Equity ratio (%) 42.3 41.1 41.7」

    The equity ratio at the end of the second quarter was 41.1%, below 42.3% at the end of the same quarter of the previous fiscal year and 41.7% at the end of the previous consolidated fiscal year. It remains above the previous target level of 40.0% or higher.
  8. FY2024-Q1Equity ratio remains above the target level but declines from the previous fiscal year-endAnnual report

    「Equity ratio (%) 40.8 40.6 41.7」

    The equity ratio at the end of the first quarter was 40.6%, below 40.8% at the end of the same quarter of the previous fiscal year and 41.7% at the end of the previous consolidated fiscal year, but above the previous target level of 40.0% or higher.
  9. FY2023-Q3AdvancedAnnual report

    「Equity ratio (%) 38.2 42.0 39.0」

    The equity ratio at the end of the third quarter was 42.0%, exceeding 38.2% at the end of the same quarter of the previous fiscal year and 39.0% at the end of the previous consolidated fiscal year. Although it is numerically above the target level of 40.0% or higher for the fiscal year ending March 2023, the Company does not state in this filing that the target has been achieved.
  10. FY2023-Q2AdvancedAnnual report

    「Equity ratio (%) 37.1 42.3 39.0」

    The equity ratio at the end of the second quarter was 42.3%, exceeding 37.1% at the end of the same quarter of the previous fiscal year and 39.0% at the end of the previous consolidated fiscal year. It is numerically above the target level of 40.0% or higher.
  11. FY2023-Q1AdvancedAnnual report

    「Equity ratio (%) 35.9 40.8 39.0」

    The equity ratio at the end of the first quarter was 40.8%, exceeding 35.9% at the end of the same quarter of the previous fiscal year and 39.0% at the end of the previous consolidated fiscal year. Although this is numerically above the existing target level of 40.0% or higher, the Company does not state in this filing that the target has been achieved.
  12. FY2022AdvancedAnnual report

    「The target equity ratio is 40.0% or higher for the fiscal year ending March 2023, the final year of the medium- to long-term five-year plan. At the end of the fiscal year under review, the equity ratio was 39.0%, and progress toward achieving the target is proceeding smoothly.」

    The equity ratio rose from 32.6% at the end of the previous fiscal year to 39.0%, approaching the target of 40.0% or higher for the fiscal year ending March 2023.
  13. FY2022-Q3AdvancedAnnual report

    「Equity ratio (%) 30.9 38.2 32.6」

    The equity ratio at the end of the third quarter was 38.2%, exceeding 30.9% at the end of the same quarter of the previous fiscal year and 32.6% at the end of the previous consolidated fiscal year. The actual ratio has improved toward the existing target of 40.0% or higher for the fiscal year ending March 2023.
  14. FY2022-Q2AdvancedAnnual report

    「Equity ratio (%) 28.1 37.1 32.6」

    The equity ratio at the end of the second quarter was 37.1%, exceeding 28.1% at the end of the same quarter of the previous fiscal year and 32.6% at the end of the previous consolidated fiscal year. The actual ratio has also improved from the previous quarter toward the existing target of 40.0% or higher for the fiscal year ending March 2023.
  15. FY2022-Q1AdvancedAnnual report

    「Equity ratio (%) 27.4 35.9 32.6」

    The equity ratio at the end of the first quarter was 35.9%, exceeding 27.4% at the end of the same quarter of the previous fiscal year and 32.6% at the end of the previous consolidated fiscal year. The actual ratio achieved toward the target of 40.0% or higher for the fiscal year ending March 2023 has improved.
  16. FY2021-Q3AdvancedAnnual report

    「Equity ratio (%) 23.8 30.9 25.2」

    The equity ratio at the end of the third quarter was 30.9%, exceeding 23.8% at the end of the same quarter of the previous fiscal year and 25.2% at the end of the previous consolidated fiscal year. The actual ratio achieved toward the target of 40.0% or higher for the fiscal year ending March 2023 has improved.
  17. FY2021-Q2AdvancedAnnual report

    「Equity ratio (%) 22.7 28.1 25.2」

    The equity ratio at the end of the second quarter was 28.1%, exceeding 22.7% at the end of the same quarter of the previous fiscal year and 25.2% at the end of the previous consolidated fiscal year. The actual ratio achieved toward the target of 40.0% or higher for the fiscal year ending March 2023 has improved.
  18. FY2021-Q1AdvancedAnnual report

    「Equity ratio (%) 21.7 27.4 25.2」

    The equity ratio at the end of the first quarter was 27.4%, exceeding 21.7% at the end of the first quarter of the previous fiscal year and 25.2% at the end of the previous consolidated fiscal year. Although the target of 40.0% or higher for the fiscal year ending March 2023 was not reiterated, the filing reports the actual ratio achieved toward the target.
  19. FY2020First statedAnnual report

    「In addition to strengthening our core and strategic businesses, the Group has adopted its consolidated equity ratio as a KPI, with the aim of improving its financial position and stabilizing its management base by reducing interest-bearing debt and pursuing an active capital policy. The target consolidated equity ratio is 40.0% or higher for the fiscal year ending March 2023, the final year of the medium- to long-term five-year plan. At the end of the fiscal year under review, the equity ratio was 25.2%, and progress toward achieving the target is proceeding smoothly.」

    The Company specified a new financial KPI of a consolidated equity ratio of 40.0% or higher for the fiscal year ending March 2023 and reported a year-end result of 25.2% and the status of progress toward the target.
Moved together

"High Reliance on Borrowings and Rising Borrowing Rates" moved the same way as this thread, in the same document, in 9 of its 22 moves.

996443★123456
  1. ★This thread
  2. 1High Reliance on Borrowings and Rising Borrowing Rates9×
  3. 2Prioritizing Financial Soundness Through No Dividends and Abolition of the Shareholder Benefit Program9×
  4. 3Dependence on Sales to Honda Motor Co., Ltd. and Its Affiliates6×
  5. 4Fixed-cost reductions through voluntary retirement programs and workforce reductions4×
  6. 5Ongoing Support from Relationship Financial Institutions and Stabilization of Cash Management4×
  7. 6Rebuilding Earnings and the Financial Position through the 丸順 Structural Reform Plan3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for J-Max yet. It last moved in the Earnings of 2026-08-06: "Mitigated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Achieving a consolidated equity ratio of 40.0% or higher | J-MAX Co.,Ltd. (3422) | Komori