Targeting adjusted ROE of 15% and maintaining a positive equity spread
First written in FY2018. 2 of 9 entries say "Raised", first in FY2021. Latest entry: 2026-09-11.
The whole theme swung hardest in 2021: 27 of 109 companies on the "Worse" side.
4 other companies' latest entry also says "Cited as achieved".
- 2026-09-11Cited as achievedOther Disclosures
「当社の資本効率を重視した経営と持続的な企業価値向上への取り組みなどが継続的に評価されたものと認識しています。」
JPX日経インデックス400およびJPXプライム150指数への連続選定を、資本効率を重視した経営と持続的な企業価値向上の取り組みが評価された実績として引用した。 - FY2025AdvancedAnnual report
「ROIC 18.8％ 21.0％ 22.9％ ROE 25.5％ 29.1％ 30.6％」
Actual ROIC was 22.9% and ROE was 30.6% for the fiscal year ended March 2025, exceeding the medium-term management plan 2028 target of approximately 25.0% ROE for the fiscal year ending March 2029. - FY2024RaisedAnnual report
「We aim to reduce the cost of shareholders’ equity by pursuing both sustainable growth through expansion of the business portfolio and lower earnings volatility, including reduced foreign exchange sensitivity, and to maintain and expand a positive equity spread over the medium to long term.」
The company positioned ROE as an indicator of sustainable corporate value enhancement and strengthened the wording from maintaining a positive equity spread to maintaining and expanding it. Under the new plan, it aims for ROE of approximately 25.0% for the fiscal year ending March 2029. - FY2023Cited as achievedAnnual report
「For the fiscal year ended March 2022, net sales were ¥95.7 billion, operating income was ¥26.6 billion, EBITDA was ¥32.4 billion, ROIC was 22.5% and ROE was 28.5%, achieving two years ahead of schedule the management targets for the fiscal year ending March 2024, the final year of the medium-term management plan refresh (update) announced on 10 May 2021: net sales of ¥85.2 billion, operating income of ¥16.8 billion, EBITDA of ¥23.9 billion, ROIC of approximately 15.0% and ROE of approximately 15.0%.」
The achievement two years ahead of schedule of the previously stated targets for ROIC and ROE for the fiscal year ending March 2024 was also cited in the management policy for the current fiscal year. - FY2022AchievedAnnual report
「For the fiscal year ended March 2022, net sales were ¥95.7 billion, operating income was ¥26.6 billion, EBITDA was ¥32.4 billion, ROIC was 22.5% and ROE was 28.5%, achieving two years ahead of schedule the management targets for the fiscal year ending March 2024, the final year of the medium-term management plan refresh (update) announced on 10 May 2021: net sales of ¥85.2 billion, operating income of ¥16.8 billion, EBITDA of ¥23.9 billion, ROIC of approximately 15.0% and ROE of approximately 15.0%.」
The company achieved two years ahead of schedule, in the fiscal year ended March 2022, the medium-term management plan targets for the fiscal year ending March 2024, including ROE and ROIC of approximately 15%. - FY2021RaisedAnnual report
「In addition to ROE and EBITDA, we newly introduced ROIC as a management indicator and will aim for EBITDA of ¥23.9 billion, ROIC of approximately 15.0% and ROE of approximately 15.0% for the fiscal year ending March 2024.」
In addition to the previous medium- to long-term ROE target of 10%, the updated medium-term management plan raised the ROE target for the fiscal year ending March 2024 to approximately 15% and newly established a ROIC target of approximately 15%. - FY2020RestatedAnnual report
「Specifically, through balanced capital allocation to investments for business expansion, research and development activities that will provide a source of future growth, and shareholder returns, we aim for ROE of 10% as a medium- to long-term target. We have also introduced an equity spread (ES), assuming an 8% cost of shareholders’ equity, as an indicator of corporate value enhancement, and aim to maintain a positive ES over the medium to long term.」
The targets of ROE of 10% and maintaining a positive ES based on an 8% cost of shareholders’ equity remained in place. Actual ROE for FY2020 was 5.5%. - FY2019ReframedAnnual report
「Specifically, through balanced capital allocation to investments for business expansion, research and development activities that will provide a source of future growth, and shareholder returns, we aim for ROE of 10% as a medium- to long-term target. We have also introduced an equity spread (ES), assuming an 8% cost of shareholders’ equity, as an indicator of corporate value enhancement, and aim to maintain a positive ES over the medium to long term.」
The wording of the indicators changed from the previous expression of adjusted ROE of 15% and a 9% cost of shareholders’ equity to positive ES based on ROE of 10% and an 8% cost of shareholders’ equity in the explanation of management targets. The previous adjusted ROE target of 15% is also stated elsewhere. - FY2018First statedAnnual report
「We are targeting adjusted ROE of 15% over the medium to long term. As a measure of corporate value creation, we have introduced an equity spread (ES) based on an assumed cost of shareholders’ equity of 9% and aim to maintain a positive ES over the medium to long term.」
The Company set adjusted ROE of 15% and maintenance of a positive ES, based on a 9% cost of shareholders’ equity, as corporate value creation targets.