Optimal Capital Structure and Financial Discipline
First written in FY2021. 3 of 6 entries say "Advanced", first in FY2024. Latest entry: 2026-08-06.
7 other companies' latest entry also says "Advanced".
- FY2025RestatedAnnual report
「ａ．自己資本比率 40％～50％程度 ｂ．Ｄ/Ｅレシオ（注２） 0.8倍以内 ｃ．手許現預金を月商の２か月分確保」
自己資本比率、D/Eレシオ、手許現預金に関する財務規律を継続している。 - FY2024AdvancedAnnual report
「当社グループは、ROEとROICを新たに経営指標に設定し、資本効率の向上と資本コストを意識した企業価値経営を推進してまいります。」
最適資本構成・財務規律の方針に、ROEとROICを新たな経営指標として設定する資本効率重視の運営を追加している。 - FY2023SoftenedAnnual report
「ａ．自己資本比率 40％～50％程度 ｂ．Ｄ/Ｅレシオ（注２） 0.8倍以内 ｃ．手許現預金を月商の２か月分確保」
従来の自己資本比率50％前後・D/Eレシオ0.5倍以内から、自己資本比率40～50％程度・D/Eレシオ0.8倍以内へ財務規律を変更している。 - FY2021First statedAnnual report
「To support sustainable growth under the medium-term management plan, our group has established the following financial strategy. 1) Funding policy: working capital and recurring capital expenditures and R&D are generally funded by cash flow from operating activities and internal funds, while large capital expenditures and M&A exceeding cash flow are funded externally. We will establish an optimal capital structure by making effective use of external funding with an awareness of the cost of capital. 2) Financial discipline: to maintain a stable financial base, we have established the following guidelines: a) equity ratio, around 50%; b) D/E ratio, within 0.5x; c) cash and deposits on hand, equivalent to 2 months of monthly sales.」
The company first specified external funding for large capital expenditures and M&A, an equity ratio of around 50%, a D/E ratio of no more than 0.5x and cash and deposits equivalent to 2 months of monthly sales.