ROIC Management: Profit in Excess of the Cost of Capital and Business Portfolio Development
First written in FY2016. 19 of 22 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2021: 4 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「In addition, guided by the principles of “quality over quantity” and “risk management,” we will steadily generate profits exceeding the cost of capital and promote management aimed at enhancing corporate value along two axes, economic value and social value, in order to contribute to the achievement of the SDGs by providing solutions to social issues.」
The expression “selectivity and focus,” included in the previous basic policy, was not explicitly stated in the current basic policy, while “quality over quantity,” “risk management,” and the two axes of economic and social value were placed at the forefront. - 2026-05-26AdvancedGeneral Meetings of Shareholders
「From the perspective of promoting management that is conscious of the cost of capital across the Group and facilitating dialogue with the capital markets, we disclose after-tax ROIC. The current cost of capital (WACC) is calculated to be in the 10% range.」
After-tax ROIC rose from 8.0% in fiscal 2024 to 9.0% in fiscal 2025 and continued to be disclosed as a management indicator reflecting awareness of the cost of capital. - FY2026-H1RestatedAnnual report
「There were no material changes during the interim consolidated accounting period.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2025-H1RestatedAnnual report
「There were no material changes during the interim consolidated accounting period.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2023-Q2RestatedAnnual report
「There have been no material changes during the cumulative second quarter of the current fiscal year.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2022RestatedAnnual report
「In addition, guided by the principles of “selectivity and focus,” “quality over quantity” and “risk management,” we will steadily generate profits exceeding the cost of capital and promote management aimed at enhancing corporate value along two axes, economic value and social value, in order to contribute to the achievement of the SDGs by providing solutions to social issues.」
The company reaffirmed ROIC management, selectivity and focus, and risk management as its basic policies, and broadened the stated objective to include enhancing corporate value by addressing social issues. - FY2022-Q3RestatedAnnual report
「There have been no material changes during the cumulative third quarter of the current fiscal year.」
The company has explained that there are no material changes to its management policies, business environment or issues to be addressed. - FY2022-Q2RestatedAnnual report
「There have been no material changes during the cumulative second quarter of the current fiscal year.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2021-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2020-Q2RestatedAnnual report
「There have been no material changes during the cumulative second quarter of the current fiscal year.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2019RestatedAnnual report
「The Group has steadily progressed toward realizing its business vision for 10 years from now, including by advancing energy-related businesses such as hydrogen supply chain demonstrations and development and investment in its medical business.」
The company continued to pursue ROIC management, selectivity and focus, and research and development and capital investment in growth fields as its basic policies. However, ROIC for the current fiscal year was 4.5%, below the 8% hurdle rate. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, there were no material changes to the Group’s management policies, business environment or issues to be addressed.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no material changes to the Group’s management policies, business environment or issues to be addressed.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, there were no material changes to the Group’s management policies, business environment or issues to be addressed.」
The company explained that there were no material changes to its management policies, business environment or issues to be addressed. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no material changes to the Group’s management policies, business environment or issues to be addressed.」
The company explained that there were no material changes to its management policies. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter of the current consolidated fiscal year, there were no material changes to the Group’s management policies, business environment or issues to be addressed.」
The company explicitly stated that there were no material changes to its management policies. - FY2016First statedAnnual report
「The company’s basic management policy is to promote “Kawasaki-ROIC management” (hereinafter, “ROIC management”), guided by the principles of “selectivity and focus,” “quality over quantity” and “risk management,” to steadily generate profits exceeding the cost of capital, continuously pursue advanced research and development and innovative capital investment, and enhance corporate value over the long term. The company will also work to build a business portfolio that emphasizes profitability, stability and growth.」
ROIC management, selectivity and focus, and quality over quantity were explicitly identified as the basic management policies.