Improving asset efficiency and shareholder capital utilization with ROE as a key metric
First written in FY2018. 1 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2019: 13 of 100 companies on the "Worse" side.
16 other companies' latest entry also says "Raised".
- FY2026RaisedAnnual report
「To reach a PBR of more than 1x at an early stage, the company aims to steadily pursue price revisions to secure an appropriate level of profit while expanding the Ceramics business, and to raise the segment profit margin of the Refractories Ceramics business to 10% at an early stage. It also aims to achieve a stable consolidated operating margin of 12%.」
The policy of improving ROE and maintaining awareness of the cost of capital has been translated into specific targets: a PBR above 1x, a 10% profit margin in the Refractories Ceramics business, and a 12% consolidated operating margin. - FY2024ReframedAnnual report
「In March 2024, the company posted on its website “Achieving Management That Is Conscious of Cost of Capital and Share Price” as an “objective metric for assessing progress toward management targets.” It aims to increase ROE by raising the overall operating margin, mainly through the Refractories business, and to maintain a stable company-wide operating margin of 8%.」
The ROE improvement policy was reorganized as management conscious of the cost of capital and share price, with higher operating margins, mainly in the Refractories business, explicitly identified as the means. - FY2020RestatedAnnual report
「Return on equity (ROE) 10.5%」
The company continues to position ROE as a key metric. ROE for the fiscal year ending March 2020 was 10.5%, down from 11.4% in the previous fiscal year, but the company stated that it would continue working to improve asset efficiency and make effective use of shareholder capital. - FY2018First statedAnnual report
「The group believes that improving asset efficiency and making effective use of shareholder capital serves the interests of all stakeholders, and has positioned return on equity (ROE) as a key metric. ROE for the current fiscal year was 9.6%, an improvement of 1.9 percentage points year on year. The group will continue working to improve these metrics.」
The company identified ROE as a key management metric for the first time, reporting current-year ROE of 9.6%, an improvement of 1.9 percentage points from the previous year, and stated its commitment to continued improvement.