Improving Capital Efficiency to Achieve ROE Targets
First written in FY2016. 10 of 28 entries say "Worsened", first in FY2018. Latest entry: FY2026.
Pia moved to the "Worse" side of this theme in 2018, 7 years before the typical company in this theme (2025).
The whole theme swung hardest in 2017: 1 of 8 companies on the "Worse" side.
0 other companies' latest entry also says "Raised".
- FY2026RaisedAnnual report
「By steadily executing this medium-term management plan and, after the subsequent medium-term management plan, reaching the company's 60th anniversary in fiscal 2032, we expect substantial earnings growth through the realization of a “lifeline business that inspires,” and aim for operating profit of more than ¥6 billion, net assets of more than ¥25 billion, and an equity ratio of more than 20% (more than 30% after adjustment for accounts payable).」
In addition to the existing policy of maintaining and improving the equity ratio and ROE, the company specified long-term targets for fiscal 2032 of an equity ratio above 20%, or above 30% after adjustment for accounts payable. - FY2026-H1Increase in the equity ratioAnnual report
「Equity ratio (%) 6.2 8.1 7.1」
The equity ratio rose to 8.1% at the end of the interim period, from 6.2% in the same interim period of the previous year and 7.1% at the end of the previous consolidated fiscal year. No ROE figure is provided in this filing. - FY2025ROE and equity ratio increasedAnnual report
「Equity ratio (%) 3.5 4.3 5.8 6.1 7.1 Return on equity (%) — — 39.6 22.6 24.9」
The consolidated equity ratio rose from 6.1% in the previous fiscal year to 7.1%, while ROE also rose from 22.6% to 24.9%. - FY2025-H1Slight Increase in Equity RatioAnnual report
「Equity ratio (%) 5.6 6.2 6.1」
The equity ratio rose to 6.2% at the end of the interim period, from 5.6% in the same interim period of the previous year and 6.1% at the end of the previous consolidated fiscal year. No ROE figure is provided in this filing. - FY2024Higher Equity Ratio and Lower ROEAnnual report
「Equity ratio (%) 10.2 3.5 4.3 5.8 6.1 Return on equity (%) 2.0 — — 39.6 22.6」
The equity ratio improved from 5.8% in the previous fiscal year to 6.1%, while ROE declined from 39.6% to 22.6%. - FY2024-Q3Improved year on year and from the end of the previous fiscal yearAnnual report
「Equity ratio (%) 5.2 6.3 5.8」
The equity ratio was 6.3% at the end of the third quarter, improving from 5.2% in the same period of the previous year and 5.8% at the end of the previous consolidated fiscal year. - FY2024-Q1Improved year on year; unchanged from the end of the previous fiscal yearAnnual report
「Equity ratio (%) 4.2 5.8 5.8」
The equity ratio improved from 4.2% in the same period of the previous year to 5.8%, and was unchanged from 5.8% at the end of the previous consolidated fiscal year. - FY2023-Q3Equity ratio down from the previous quarter; improved from the end of the previous fiscal yearAnnual report
「Equity ratio (%) 5.2 5.2 4.3」
The equity ratio was 5.2% both in the same period of the previous year and at the end of the third quarter, compared with 4.3% at the end of the previous consolidated fiscal year. Although it improved from the end of the previous fiscal year, it declined from the end of the previous quarter, remaining at a low level. - FY2023-Q2Improvement in the Equity RatioAnnual report
「Equity ratio (%) 3.9 5.5 4.3」
The equity ratio improved to 5.5% at the end of the second quarter, from 3.9% in the same quarter of the previous year and 4.3% at the end of the previous consolidated fiscal year. However, it remains at a low level. - FY2023-Q1WorsenedAnnual report
「Equity ratio (%) 5.1 4.2 4.3」
The equity ratio declined to 4.2% at the end of the first quarter, from 5.1% in the same period of the previous year and 4.3% at the end of the previous consolidated fiscal year. No ROE figure is provided in this filing. - FY2022Equity ratio improved; ROE not calculableAnnual report
「Equity ratio (%) 13.1 10.4 10.2 3.5 4.3 Return on equity (%) 9.3 11.9 2.0 — —」
The equity ratio improved from 3.5% in the previous fiscal year to 4.3%. However, ROE remains uncalculated because of a net loss for the period. - FY2022-Q3Equity ratio improved from the end of the previous fiscal yearAnnual report
「Equity ratio (%) 6.6 5.2 3.5」
The equity ratio declined from 6.6% in the same period of the previous year to 5.2%, while improving from 3.5% at the end of the previous consolidated fiscal year. - FY2022-Q2Down from the previous quarter; improved year on yearAnnual report
「Equity ratio (%) 3.1 3.9 3.5」
The equity ratio was 3.9% at the end of the second quarter, compared with 3.1% in the same period of the previous year and 3.5% at the end of the previous consolidated fiscal year. Although it improved from the end of the previous fiscal year and year on year, it declined from 5.1% at the end of the immediately preceding first quarter. - FY2022-Q1Slight improvement in the equity ratioAnnual report
「Equity ratio (%) 6.0 5.1 3.5」
The equity ratio was 5.1% at the end of the first quarter, compared with 6.0% at the end of the first quarter of the previous fiscal year and 3.5% at the end of the previous consolidated fiscal year. Although it improved from the previous fiscal year-end, it remains at a low level. - FY2021WorsenedAnnual report
「Equity ratio (%) 18.5 13.1 10.4 10.2 3.5 Return on equity (%) 12.6 9.3 11.9 2.0 —」
The equity ratio declined from 10.2% in the previous fiscal year to 3.5%, while ROE was not calculated due to the recording of a net loss for the period. Despite the policy of targeting the maintenance and improvement of the equity ratio and ROE, the financial indicators deteriorated further. - FY2021-Q2WorsenedAnnual report
「Equity ratio (%) 10.7 3.1 10.2」
The equity ratio declined to 3.1% at the end of the second quarter, from 10.7% in the same period of the previous year and 10.2% at the end of the previous consolidated fiscal year. Total net assets also declined from ¥6,019 million to ¥1,647 million. - FY2021-Q1WorsenedAnnual report
「Equity ratio (%) 9.0 6.0 10.2」
The equity ratio declined to 6.0% at the end of the first quarter, compared with 9.0% at the end of the first quarter of the previous fiscal year and 10.2% at the end of the previous consolidated fiscal year. ROE was not stated in this filing. - FY2020WorsenedAnnual report
「Equity ratio (%) 21.1 18.5 13.1 10.4 10.2 Return on equity (%) 17.6 12.6 9.3 11.9 2.0」
The consolidated equity ratio declined from 10.4% in the previous fiscal year to 10.2%, while ROE declined from 11.9% to 2.0%. The policy of maintaining and improving both indicators continues. - FY2020-Q3Declined year on year and improved from the previous fiscal year-endAnnual report
「Equity ratio (%) 13.3 11.7 10.4」
The equity ratio was 11.7% at the end of the third quarter, below 13.3% in the same period of the previous year but above 10.4% at the end of the previous consolidated fiscal year. - FY2020-Q2Improvement in the equity ratio from the previous quarter-endAnnual report
「Equity ratio (%) 11.4 10.7 10.4」
The equity ratio was 10.7% at the end of the second quarter, compared with 11.4% in the same period of the previous year and 10.4% at the end of the previous consolidated fiscal year. It improved from 9.0% in FY2020-Q1, but declined year on year. - FY2020-Q1WorsenedAnnual report
「Equity ratio (%) 12.4 9.0 10.4」
The equity ratio declined to 9.0% at the end of the first quarter, from 12.4% at the end of the first quarter of the previous fiscal year and 10.4% at the end of the previous consolidated fiscal year. ROE was not stated in this filing. - FY2019Improvement in ROE and decline in the equity ratioAnnual report
「Equity ratio (%) 19.5 21.1 18.5 13.1 10.4 Return on equity (%) 21.4 17.6 12.6 9.3 11.9」
ROE improved from 9.3% to 11.9% in the fiscal year ended March 2019, while the equity ratio declined from 13.1% to 10.4%. The policy of maintaining and improving both indicators continues. - FY2019-Q3WorsenedAnnual report
「Equity ratio (%) 17.2 13.3 13.1」
The equity ratio declined from 17.2% in the same period of the previous year to 13.3% at the end of the third quarter. However, it remained above the 13.1% recorded at the end of the previous consolidated fiscal year. ROE was not stated in this filing. - FY2019-Q2WorsenedAnnual report
「Equity ratio (%) 16.4 11.4 13.1」
The equity ratio declined to 11.4% at the end of the second quarter, from 16.4% in the same quarter of the previous year and 13.1% at the end of the previous consolidated fiscal year. - FY2019-Q1WorsenedAnnual report
「Equity ratio (%) 15.4 12.4 13.1」
The equity ratio declined to 12.4% at the end of the first quarter, from 15.4% in the same period of the previous year and 13.1% at the end of the previous consolidated fiscal year. - FY2018WorsenedAnnual report
「The Company uses the equity ratio and ROE as its principal management indicators. Specifically, while working to strengthen its financial position with full recognition of the cost of capital, it aims to maintain and improve the equity ratio and ROE at levels deemed appropriate over the medium term, thereby pursuing sustained growth in corporate value.」
Although the policy of maintaining and improving these indicators continues, the equity ratio declined from 18.5% to 13.1% and ROE from 12.6% to 9.3%. - FY2017RestatedAnnual report
「The Company uses the equity ratio and ROE as its principal management indicators. Specifically, while working to strengthen its financial position with full recognition of the cost of capital, it aims to maintain and improve the equity ratio and ROE at levels deemed appropriate over the medium term, thereby pursuing sustained growth in corporate value.」
In addition to ROE, the Company has explicitly identified the equity ratio as a key indicator and continues to target the maintenance and improvement of both indicators. - FY2016First statedAnnual report
「The Company is repurchasing its own shares in order to implement flexible capital-efficiency improvement measures aimed at achieving the ROE target, a management indicator under its medium-term management plan.」
The Company has established ROE as a management indicator under its medium-term management plan and uses share repurchases as a means of improving capital efficiency.