Use of Retained Earnings Prioritizing Research and Development and Capital Investment
First written in FY2016. 4 of 6 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 3 of 37 companies on the "Worse" side.
4 other companies' latest entry also says "Other".
- FY2026M&A explicitly identified as a use of retained earningsAnnual report
「Retained earnings are reserved to meet funding needs for M&A, research and development, capital investment and other purposes. We believe that, over the long term, they will contribute to returning profits to shareholders through higher earnings.」
M&A was explicitly added to the existing research and development and capital investment uses of retained earnings. - FY2021RestatedAnnual report
「Retained earnings are reserved to meet funding needs for research and development, capital investment and other purposes. We believe that, over the long term, they will contribute to returning profits to shareholders through higher earnings.」
The policy of using retained earnings for research and development and capital investment, leading to shareholder returns through higher earnings in the future, has been reaffirmed. - FY2020RestatedAnnual report
「Retained earnings are reserved to meet funding needs for research and development, capital investment and other purposes. We believe that, over the long term, they will contribute to returning profits to shareholders through higher earnings.」
The policy of using retained earnings for research and development and capital investment, leading to shareholder returns through higher earnings in the future, has been reaffirmed. - FY2018RestatedAnnual report
「Retained earnings are reserved to meet funding needs for research and development, capital investment and other purposes. We believe that, over the long term, they will contribute to returning profits to shareholders through higher earnings.」
The policy of using retained earnings for research and development and capital investment, leading to shareholder returns through higher earnings in the future, has been reaffirmed. - FY2017RestatedAnnual report
「In addition, we will consider the most effective shareholder return measures as appropriate, taking into account our business performance and operating environment while also paying attention to retained earnings for use in future business development, alongside efforts to strengthen and enhance our management base and financial position.」
The policy of using retained earnings for the financial base and future business development, while determining shareholder returns based on business performance and the operating environment, remains in place. - FY2016First statedAnnual report
「In addition to strengthening and enhancing our management base and financial position, we will consider the most effective shareholder return measures as appropriate, taking into account our business performance and operating environment while also paying attention to retained earnings for use in future business development.」
This is the first disclosure of a policy to use retained earnings to strengthen the financial base and support future business development while determining shareholder returns.