Improving returns on capital with awareness of the cost of capital
First written in FY2023. 1 of 4 entries say "Raised", first in FY2024. Latest entry: FY2026.
The whole theme swung hardest in 2023: 6 of 43 companies on the "Worse" side.
26 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「ＲＯＩＣ（％） 7.7」
ROIC was 7.7% for the fiscal year, exceeding the target level of 7.6% for the fiscal year ending March 2028. - FY2025ReframedAnnual report
「The quantitative targets for the fiscal year ending March 2028 are revenue of ¥50 billion, EBITDA of ¥6.8 billion, ROE of 9.3% and ROIC of 7.6%.」
The Company has reorganized the cost-of-capital management framework from the previous fiscal year's indicators of WACC in the 6% to 7% range, ROIC of at least 10% and an EBITDA margin of at least 15% into a new quantitative target framework centered on ROE, ROIC and absolute EBITDA for the fiscal year ending March 2028. - FY2024RaisedAnnual report
「In addition, beginning with the fiscal year ending March 2025, we will introduce management focused on the cost of capital and share price, set weighted average cost of capital (WACC) in the 6% to 7% range, establish medium-term targets of ROIC of at least 10% and an EBITDA margin of at least 15%, and work to strengthen production capacity and profitability, including by securing and developing talented personnel and pursuing M&A, while seeking to improve returns on capital with an awareness of the EVA spread.」
The policy of management conscious of the cost of capital has been made more specific through time-bound and numerical targets: implementation from the fiscal year ending March 2025, WACC in the 6% to 7% range, ROIC of at least 10% and an EBITDA margin of at least 15%. - FY2023First statedAnnual report
「In addition, we will advance discussions toward implementing management that is even more conscious of the cost of capital in order to improve return on capital.」
A new policy has been explicitly stated to implement management conscious of the cost of capital in order to improve return on capital.