Balancing growth and financial soundness through TOP (sales, total assets and market capitalization at 1:1:1)
First written in FY2018. 2 of 5 entries say "Advanced", first in FY2019. Latest entry: FY2021.
No other company in this theme has enough history to compare yet.
- FY2021RestatedAnnual report
「Under the 2018 Business Plan, the TOP target for the current consolidated fiscal year, the final year, was set at a ratio of 0.9:1:0.5 for revenue, total assets and market capitalization, while the actual ratio for the current consolidated fiscal year was 0.8:1:0.2.」
The annual results reconfirmed that TOP was 0.8:1:0.2 against the fiscal 2020 target of 0.9:1:0.5. - FY2021-Q3AdvancedAnnual report
「In the 2021 Business Plan (fiscal 2021–fiscal 2023), the group decided to focus not on expanding the scale of its businesses but on restoring and strengthening earnings power and developing growth areas, laying the groundwork for a major advance under the next medium-term management plan, the 2024 Business Plan, and for achieving TOP.」
The group reaffirmed achieving TOP as a long-term goal toward a major advance under the 2024 Business Plan and set fiscal 2021–fiscal 2023 as an interim phase for improving financial indicators. - FY2020Failure to achieve the target ratioAnnual report
「Under the 2018 Business Plan, the TOP target for fiscal 2020, the final year, was set at a ratio of 0.9:1:0.5 for revenue, total assets and market capitalization, while the actual ratio for the current consolidated fiscal year was 0.8:1:0.2.」
Against the TOP target of 0.9:1:0.5 for fiscal 2020, the actual ratio for fiscal 2019 was 0.8:1:0.2. The market capitalization ratio declined from the previous year's actual ratio of 0.3 to 0.2. - FY2019AdvancedAnnual report
「Although the TOP target for fiscal 2020, the final year of the 2018 Business Plan, was set at a ratio of 0.9:1:0.5 for revenue, total assets and market capitalization, the actual ratio for the current consolidated fiscal year, the first year of the plan, was 0.8:1:0.3.」
For TOP, the fiscal 2020 target ratio of 0.9:1:0.5 and the first-year actual ratio of 0.8:1:0.3 were presented to quantify progress against the plan. - FY2018First statedAnnual report
「This balance will be assessed using TOP, a proprietary group metric. TOP sets the ratio of sales, total assets and market capitalization at 1:1:1 (Triple One Proportion), and the group will manage its businesses with consideration for profitability, asset efficiency and financial soundness from the perspective of creating value for shareholders, investors and customers.」
The 2018 Business Plan introduced TOP as a proprietary metric for evaluating growth and financial soundness simultaneously, and first explicitly stated the aim of achieving a 1:1:1 ratio for sales, total assets and market capitalization.