Financial Sustainability and MTP Financial Targets
First written in FY2016. 10 of 25 entries say "Restated". Latest entry: 2026-08-07.
Nippon Sheet Glass moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 8 of 36 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- 2026-08-07RestatedFinancial Results Presentation
「No change to the earnings forecast. The company continues to target operating profit of ¥36.0 billion.」
The full-year operating-profit forecast and target level of ¥36.0 billion were maintained. - FY2026SoftenedAnnual report
「Although the Group recovered from the previous fiscal year, which was significantly affected by the economic slowdown in Europe, conditions remain challenging for achieving the target for the fiscal year ending March 2027. The Group will continue to focus on improving profitability, increasing cash-generating capacity and strengthening its financial base.」
Regarding the 2030 Vision financial targets, the Group explicitly stated that although it had recovered from the previous fiscal year, achieving the target for the fiscal year ending March 2027 remains challenging. It will continue working to improve profitability, cash-generation capacity and its financial base. - FY2025WorsenedAnnual report
「Net sales for the current consolidated fiscal year were ¥840.4 billion, slightly above the previous fiscal year’s ¥832.5 billion. Operating profit before separately disclosed items declined to ¥16.5 billion from ¥35.9 billion in the previous fiscal year, mainly due to lower profit in the architectural glass business.」
While net sales increased, operating profit before separately disclosed items declined from ¥35.9 billion to ¥16.5 billion, representing a setback in improving profitability toward financial sustainability. - FY2024AdvancedAnnual report
「The Group achieved its targets for the equity ratio and free cash flow for 3 consecutive years, but did not achieve its targets for the operating margin and net profit.」
For the RP24 final year, the Group achieved its equity ratio and free cash flow targets for the third consecutive year, with an equity ratio of 12.3% and free cash flow of ¥15.3 billion. However, the operating margin was 4.3% and net profit was ¥10.6 billion, so it disclosed that the targets of an 8% operating margin and cumulative net profit of ¥30 billion or more over 3 years were not achieved. - FY2024-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy, including the RP24 financial targets. - FY2023AdvancedAnnual report
「The financial figures for the fiscal years ended March 2023 and March 2022 are as follows. Although further improvement is needed in the operating margin and net profit, the Group achieved its targets for the equity ratio and free cash flow for 2 consecutive years.」
Toward the RP24 final-year targets, the Group achieved its equity ratio and free cash flow targets for 2 consecutive years. However, the operating margin was 4.6% and the loss attributable to owners of the parent was ¥33.8 billion, indicating room for improvement against the targets of an 8% operating margin and cumulative net profit of ¥30 billion or more over 3 years. - FY2023-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy, including the RP24 financial targets. - FY2022AdvancedAnnual report
「The financial figures for the current consolidated fiscal year, the first year of the RP24 period, are as follows. The Group achieved its annual targets for the equity ratio and free cash flow. Operating margin: 3.3%; net profit: ¥4.1 billion; equity ratio: 15.5%; free cash flow: ¥22.3 billion.」
As first-year results toward the RP24 final-year targets, the Group explained that the equity ratio of 15.5% and free cash flow of ¥22.3 billion achieved their annual targets. The operating margin was 3.3% and profit attributable to owners of the parent was ¥4.1 billion. - FY2022-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy, including the RP24 financial targets. - FY2022-Q2RestatedAnnual report
「There were no material changes during the cumulative consolidated second quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy, including the RP24 financial targets. - FY2021ReframedAnnual report
「The financial targets for the final year of the RP24 period, the fiscal year ending March 2024, are as follows: operating margin, 8%; net profit, cumulative over 3 years, ¥30 billion or more; equity ratio, 10% or more; free cash flow, ¥10 billion or more.」
Following the failure to achieve the MTP Phase 2 financial targets, the Group newly set RP24 targets for the fiscal year ending March 2024 of an operating margin of 8%, cumulative net profit over 3 years of ¥30 billion or more, an equity ratio of 10% or more and free cash flow of ¥10 billion or more. - FY2021-Q1RestatedAnnual report
「There were no material changes during the cumulative consolidated first quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy, including the MTP Phase 2 financial targets. - FY2020SoftenedAnnual report
「Although profit improved steadily through the fiscal year ended March 2019, the Group was affected after the start of the fiscal year ending March 2020 by a sharp decline in automobile production, mainly in Europe, and worsening supply-demand conditions in the architectural glass market, and therefore did not achieve the MTP Phase 2 financial targets in the fiscal year ending March 2020, the final year of the plan.」
The Group explicitly stated that it failed to achieve in the final year the MTP Phase 2 financial targets of ROS of 8% or more and a net debt/EBITDA ratio of 3 times or less. - FY2019SoftenedAnnual report
「Due to increases in input costs, including the rise in energy costs in recent years, delays in launching new products, delays in the shift to VA in some markets and the acceleration of investments for future growth, the Group is not expected to achieve the MTP Phase 2 financial targets for the fiscal year ending March 2020, namely ROS and the net debt/EBITDA ratio.」
The Group explicitly stated that it expects to miss the fiscal year ending March 2020 targets of ROS of 8% or more and a net debt/EBITDA ratio of 3 times. Actual results for the fiscal year ended March 2019 were ROS of 6.3% and a ratio of 4.9 times. - FY2018AdvancedAnnual report
「Progress against the fiscal year ending March 2020 targets set under MTP Phase 2 is as follows. Sales operating margin (ROS): target, 8% or more; actual for the fiscal year ended March 2018, 6.2%. Net debt/EBITDA ratio: target, 3 times; actual for the fiscal year ended March 2018, 4.6 times.」
Against the fiscal year ending March 2020 targets of ROS of 8% or more and a net debt/EBITDA ratio of 3 times, the Group disclosed first-year results of ROS of 6.2% and a ratio of 4.6 times. - FY2018-Q3RestatedAnnual report
「There were no material changes during the cumulative consolidated third quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial policy concerning financial sustainability and the MTP financial targets. - FY2018-Q2RestatedAnnual report
「There were no material changes during the cumulative consolidated second quarter under review to the management policies and strategies established by the Group or to the business and financial issues that it needs to address.」
The Group states that there have been no material changes to its financial sustainability policy, including the MTP financial targets. - FY2017Addition of a financial target itemAnnual report
「The financial targets are a sales operating margin (ROS) of 8% or more and a net debt/EBITDA ratio of 3 times. The assumed ROE target for the target year is 10% or more, while the assumed target for the ratio of equity attributable to owners of the parent to total assets (equity ratio) is approximately 20%.」
In addition to the existing ROS, net debt/EBITDA ratio and ROE targets, the Group added an equity ratio of approximately 20% as a financial target. - FY2017-Q3RestatedAnnual report
「The MTP sets the establishment of financial sustainability and the transformation into a Value-Added Glass Company as its top-level objectives. Its financial targets are a net debt/EBITDA ratio of 3 times and a sales operating margin (ROS) of 8% or more, while the assumed target for ROE is 10% or more.」
The numerical financial targets have been maintained, indicating that the targets set for MTP Phase 2 are to be achieved. - FY2017-Q2SoftenedAnnual report
「We still believe these financial targets are achievable. However, after taking into account the difficult conditions the Group faces in several markets and the foreign currency translation impact of the stronger yen, we expect achievement to be delayed by 2 years from the original target to the fiscal year ending March 2020.」
While maintaining the financial targets themselves—a net debt/EBITDA ratio of 3 times, ROS of 8% or more and ROE of 10% or more—the target date was deferred by 2 years from the originally planned fiscal year ending March 2018 to the fiscal year ending March 2020. - FY2017-Q1RestatedAnnual report
「The MTP sets two financial targets: a net debt/EBITDA ratio of 3 times and a sales operating margin (ROS) of 8% or more. The assumed ROE target is 10% or more.」
The MTP financial targets for the fiscal year ending March 2018 were stated as before. - FY2016First statedAnnual report
「The top-level objectives of the MTP are to achieve financial sustainability, meaning a stable financial position, and to further advance the transformation into a “Value-Added Glass Company.” The financial targets for the fiscal year ending March 2018, the target year, are a net debt/EBITDA ratio of 3 times and a sales operating margin (ROS) of 8% or more. For ROE, the assumed target for the target year is 10% or more.」
The Group set specific financial targets for net debt, ROS and ROE, with the fiscal year ending March 2018 as the target year.