Setting Medium-Term Management Targets Centered on ROE and the Payout Ratio
First written in FY2017. 5 of 36 entries say "Raised", first in FY2020. Latest entry: 2026-07-31.
2 other companies' latest entry also says "Cited as achieved".
- FY2026RaisedAnnual report
「Under the new plan to be implemented over the three years from fiscal 2026 through fiscal 2028, the company will make proactive growth investments of approximately ¥10 billion, using achievement of ROE of 8.0% in fiscal 2031 as a benchmark, and seek to further expand earnings power. By managing with greater awareness of its share price level, it will enhance corporate value and work to raise its price-to-book ratio (PBR) to at least 1x.」
Actual ROE at the end of the current plan was 6.0%, exceeding the target of 3.5%–4.0%. The new plan newly sets ROE of 8.0% and a PBR of at least 1x for fiscal 2031, placing greater emphasis on capital efficiency and corporate value. - FY2026-H1Increase in the equity ratio to 82.2%Annual report
「As a result, the equity ratio rose 4.5 percentage points from the end of the previous consolidated fiscal year to 82.2%.」
The equity ratio was 82.2%, remaining above the level of at least 70% set in the medium-term plan. - FY2025RaisedAnnual report
「① ROE (return on equity): 3.5%–4.0% 5.9% We aim to steadily improve capital efficiency while maintaining a sound financial position by maintaining an equity ratio of at least 70%.」
We raised the ROE target at the end of the medium-term plan from 3.3% to 3.5%–4.0%. Actual ROE was 5.9%, and the equity ratio was 77.7%. - FY2025-H1Increase in the equity ratio to 83.1%Annual report
「As a result, the equity ratio rose 4.0 percentage points from the end of the previous consolidated fiscal year to 83.1%.」
The equity ratio was 83.1%, remaining above the level of at least 70% set in the medium-term management plan. - FY2024-Q3Increase in the equity ratio to 82.7%Annual report
「As a result, the equity ratio rose 4.5 percentage points from the end of the previous consolidated fiscal year to 82.7%.」
The equity ratio was 82.7%, remaining above the level of at least 70% set in the medium-term management plan. - FY2024-Q2Increase in the equity ratio to 81.8%Annual report
「As a result, the equity ratio rose 3.6 percentage points from the end of the previous consolidated fiscal year to 81.8%.」
The equity ratio was 81.8%, remaining above the level of at least 70% set in the medium-term management plan. - FY2024-Q1Increase in the equity ratio to 82.2%Annual report
「As a result, the equity ratio rose 4.0 percentage points from the end of the previous consolidated fiscal year to 82.2%.」
The equity ratio was 82.2%, remaining above the level of at least 70% set in the medium-term management plan. - FY2023-Q3Equity ratio of 80.7%Annual report
「As a result, the equity ratio rose 2.9 percentage points from the end of the previous consolidated fiscal year to 80.7%.」
The equity ratio was 80.7%, remaining above the level of at least 70% set in the medium-term management plan. - FY2023-Q2Increase in the equity ratio to 81.2%Annual report
「As a result, the equity ratio rose 3.4 percentage points from the end of the previous consolidated fiscal year to 81.2%.」
The equity ratio was 81.2%, remaining above the level of at least 70% set in the medium-term management plan. - FY2023-Q1Higher equity ratioAnnual report
「As a result, the equity ratio rose 2.8 percentage points from the end of the previous consolidated fiscal year to 80.6%.」
The equity ratio was 80.6%, remaining above the level of at least 70% set in the medium-term management plan. - FY2022-Q3Higher equity ratioAnnual report
「As a result, the equity ratio was 79.2% (73.7% at the end of the previous consolidated fiscal year).」
The equity ratio was 79.2%, remaining above the level of at least 70% set in the plan. - FY2022-Q2Higher equity ratioAnnual report
「As a result, the equity ratio was 77.7% (73.7% at the end of the previous consolidated fiscal year).」
The equity ratio was 77.7%, remaining above the level of at least 70% set in the medium-term management plan. - FY2022-Q1Higher equity ratioAnnual report
「As a result, the equity ratio was 77.1% (73.7% at the end of the previous consolidated fiscal year).」
The equity ratio was 77.1%, remaining above the level of at least 70% set in the plan. - FY2021-Q3Higher equity ratioAnnual report
「As a result, the equity ratio rose 4.6 percentage points from the end of the previous consolidated fiscal year to 77.4%.」
The equity ratio was 77.4%, remaining above the level of at least 70% set in the medium-term management plan. - FY2021-Q2Slight decline in the equity ratioAnnual report
「As a result, the equity ratio rose 2.7 percentage points from the end of the previous consolidated fiscal year to 75.5%.」
The equity ratio edged down from 75.6% in the first quarter to 75.5%, but remained above the level of at least 70% set in the medium-term management plan. - FY2021-Q1Higher equity ratioAnnual report
「As a result, the equity ratio rose 4.6 percentage points from the end of the previous consolidated fiscal year to 77.4%.」
The equity ratio was 77.4%, remaining above the level of at least 70% set in the medium-term management plan. - FY2020RaisedAnnual report
「① ROE (return on equity): 3.3% We aim to steadily improve capital efficiency while maintaining a sound financial position by maintaining an equity ratio of at least 70%.」
We raised the ROE target at the end of the plan from 3% to 3.3%. The policy of maintaining an equity ratio of at least 70% and the guideline dividend payout ratio of 30–40% also remain unchanged. - FY2020-Q3Higher equity ratioAnnual report
「As a result, the equity ratio rose 2.5 percentage points from the end of the previous consolidated fiscal year to 77.8%.」
The equity ratio was 77.8%, remaining above the level of at least 70% set in the medium-term plan. - FY2020-Q2Slight increase in the equity ratioAnnual report
「As a result, the equity ratio rose 0.3 percentage points from the end of the previous consolidated fiscal year to 75.6%.」
The equity ratio was 75.6%, remaining above the level of at least 70% set in the medium-term plan. - FY2020-Q1Higher equity ratioAnnual report
「As a result, the equity ratio rose 2.4 percentage points from the end of the previous consolidated fiscal year to 77.7%.」
The equity ratio rose from 75.3% at the end of the previous consolidated fiscal year to 77.7%, remaining above the level of at least 70% set in the medium-term plan. - FY2019-Q3Higher equity ratioAnnual report
「As a result, the equity ratio rose 2.1 percentage points from the end of the previous consolidated fiscal year to 79.7%.」
The equity ratio rose to 79.7%, remaining above the level of at least 70% set in the medium-term plan. - FY2019-Q2Declining equity ratioAnnual report
「The equity ratio fell 0.5 percentage points from the end of the previous consolidated fiscal year to 77.1%.」
The equity ratio declined to 77.1%, but remained above the level of at least 70% set in the medium-term plan. - FY2019-Q1Higher equity ratioAnnual report
「The equity ratio rose 1.1 percentage points from the end of the previous consolidated fiscal year to 78.7%.」
The equity ratio was 78.7%, remaining above the level of at least 70% set in the medium-term plan. - FY2018Low ROE and higher dividend payout ratioAnnual report
「The equity ratio rose 3.9 percentage points from the end of the previous consolidated fiscal year to 76.6%.」
The medium-term plan targets of 3% ROE and a dividend payout ratio of 30–40% remain unchanged. For the current fiscal year, ROE was 1.4% and the dividend payout ratio was 58.9%, while the equity ratio was 76.6%, above the target floor of 70%. - FY2017First statedAnnual report
「Regarding our management indicators, we emphasize ROE (return on equity) from the perspective of prioritizing shareholder value and capital efficiency. We also emphasize the dividend payout ratio as a guideline for our shareholder return policy, while maintaining stable dividends as a basic policy. To improve these management indicators, we will focus on improving the operating margin, which indicates the profitability of our business.」
We set targets at the end of this plan of 3% ROE and stable dividends guided by a dividend payout ratio of 30–40%, and for the first time quantified a policy of improving the operating margin while maintaining an equity ratio of at least 70%.