Creating Corporate and Shareholder Value
First written in FY2016. 5 of 9 entries say "Advanced", first in FY2021. Latest entry: FY2026.
20 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「We use operating margin and ROE (return on equity) as key management indicators of continued improvement in profitability and the efficiency of business operations, and aim to achieve an operating margin of 15.0% and ROE of at least 17.0%. We estimate our cost of capital at 8–10% and aim to enhance shareholder value by pursuing ROE above the cost of capital.」
The company specified an operating margin of 15.0%, ROE of at least 17.0% and a cost of capital of 8–10% as indicators of enhanced shareholder value. - FY2023AdvancedAnnual report
「In addition, we estimate our cost of capital at 7.7%. By pursuing ROE above the cost of capital, we aim to enhance shareholder value.」
Regarding the enhancement of shareholder value, the company estimates its cost of capital at 7.7% and indicates a policy of pursuing ROE above the cost of capital, based on ROE of 13.8% for the fiscal year ended June 2023. - FY2022AdvancedAnnual report
「We estimate our cost of equity at 7.0%* and use it as an indicator when assessing ROE. While focusing on increasing the equity spread, the difference between ROE and the cost of equity, we aim to improve ROE by strengthening profitability.」
The company estimates its cost of equity at 7.0% and indicates a policy of improving ROE with a focus on expanding the equity spread relative to ROE of 13.5% for the fiscal year ended June 2022. - FY2021AdvancedAnnual report
「The Company also estimates its cost of capital at 6.6%. It aims to increase shareholder value by pursuing ROE above its cost of capital.」
The Company continues to give concrete form to the enhancement of shareholder value through the pursuit of ROE above its 6.6% cost of capital and the increase of the equity spread. - FY2020RaisedAnnual report
「The Company estimates its cost of equity at 6.8%* and uses it as an indicator when evaluating ROE. While focusing on increasing the equity spread, the difference between ROE and the cost of equity, it aims to improve ROE by strengthening its earnings power.」
The Company translated the creation of corporate and shareholder value into specific capital efficiency indicators: evaluating ROE against a 6.8% cost of equity and increasing the equity spread. - FY2018RestatedAnnual report
「The Company will address the management issues set out below, enhance its earnings power, create greater corporate and shareholder value, and strive to meet the expectations of its shareholders.」
We reiterate the Company's view that it will create corporate and shareholder value by addressing management issues including expansion of its business areas, improvement of system reliability, and reform of its corporate culture. - FY2016First statedAnnual report
「The Company will address the management issues set out below, enhance its earnings power, create greater corporate and shareholder value, and strive to meet the expectations of its shareholders.」
The Company identifies expansion of its business areas, improved system reliability, and development of new businesses as management issues, with the creation of corporate and shareholder value as the ultimate objective.