Management Indicators Emphasizing ROE, Net Assets and Free Cash Generation Capacity
First written in FY2017. 10 of 21 entries say "Advanced", first in FY2019. Latest entry: 2026-07-31.
The whole theme swung hardest in 2020: 14 of 68 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- FY2026Identified issues with adjusted ROE and ROICAnnual report
「1. Low profitability and capital efficiency PBR: 0.4x, indicating a low market valuation ROE: 2.5% after adjustment for actual results, a low level ROIC: Below WACC recently, highlighting an issue with capital efficiency」
While consolidated ROE improved to 31.0% and net assets per share increased to ¥575.80, management identified an issue with capital efficiency, stating that ROE adjusted for hedging transactions and other factors was 2.5% and that ROIC was below WACC. - FY2026-H1WorsenedAnnual report
「Total net assets decreased 1.4% from the end of the previous consolidated fiscal year to ¥4,970 million. This was mainly due to a ¥239 million decrease in retained earnings and a ¥198 million reduction in the negative treasury stock balance resulting from the disposal of treasury stock, among other factors.」
Total net assets decreased 1.4% from the end of the previous fiscal year due to the interim net loss and other factors. Although the disposal of treasury stock was a capital policy factor supporting an increase, retained earnings decreased by ¥239 million. - FY2025RaisedAnnual report
「Specifically, we are targeting ROE of more than 9% and ROIC of more than 8% in the final year of Medium-Term Vision 2028, the fiscal year ending March 2028.」
In addition to the previously emphasized ROE, net assets and free cash flow generation, the company clarified the relationship between ROIC and the cost of capital and set new quantitative targets, including ROE of more than 9%, ROIC of more than 8%, consolidated operating revenue of ¥35 billion and actual profit before income taxes of at least ¥800 million for the fiscal year ending March 2028. - FY2025-H1AdvancedAnnual report
「Total net assets increased 4.5% from the end of the previous consolidated fiscal year to ¥6,237 million. This was due mainly to an ¥86 million decrease in retained earnings from dividends to shareholders and a ¥355 million increase from interim net income attributable to owners of the parent, among other factors.」
Total net assets increased 4.5% year on year to ¥6,237 million, while retained earnings increased mainly due to the recognition of interim net income. - FY2024AdvancedAnnual report
「We fully recognize the importance of capital policy and intend to build a strong financial base by using shareholders' equity efficiently, while also securing stable periodic earnings.」
Net assets per share increased from ¥403.28 in the previous fiscal year to ¥439.34, moving closer to the target of at least ¥500 for the fiscal year ending March 2025. The company also set out the establishment of an earnings structure capable of generating returns above the cost of capital and the analysis of return on capital. - FY2024-Q2AdvancedAnnual report
「Total net assets increased 2.6% from the end of the previous consolidated fiscal year to ¥5,911 million. This was due mainly to a ¥90 million decrease in retained earnings from dividends to shareholders and a ¥235 million increase from the quarterly net income attributable to owners of the parent, among other factors.」
Total net assets increased from ¥5,763 million at the end of the previous fiscal year to ¥5,911 million, recovering after declining through the previous quarter. - FY2024-Q1WorsenedAnnual report
「Total net assets decreased 1.5% from the end of the previous consolidated fiscal year to ¥5,679 million.」
Total net assets decreased 1.5% from the end of the previous fiscal year. The decrease in retained earnings due to dividends to shareholders was cited as a primary factor. - FY2023-Q3WorsenedAnnual report
「Total net assets decreased 3.7% from the end of the previous consolidated fiscal year to ¥5,945 million. This was mainly due to a ¥208 million decrease in retained earnings resulting from the quarterly net loss attributable to owners of the parent, among other factors.」
Total net assets decreased 3.7% from the end of the previous fiscal year, while retained earnings also decreased by ¥208 million due mainly to the quarterly net loss attributable to owners of the parent. - FY2023-Q2AdvancedAnnual report
「Total net assets increased 1.8% from the end of the previous consolidated fiscal year to ¥6,279 million. This was mainly due to a ¥121 million increase in retained earnings resulting from the quarterly net income attributable to owners of the parent, among other factors.」
Total net assets turned upward, increasing 1.8% from the end of the previous fiscal year after declining through the previous quarter. - FY2023-Q1WorsenedAnnual report
「Total net assets decreased 1.6% from the end of the previous consolidated fiscal year to ¥6,072 million. This was mainly due to a ¥38 million decrease in retained earnings resulting from dividends to shareholders and a ¥36 million decrease resulting from the quarterly net loss attributable to owners of the parent, among other factors.」
Total net assets decreased 1.6% from the end of the previous fiscal year. The decrease in retained earnings due to the quarterly net loss and dividends was cited as a factor. - FY2022AdvancedAnnual report
「Net assets per share were ¥435.65, compared with ¥428.33 in the previous consolidated fiscal year.」
Net assets per share increased from ¥428.33 in the previous fiscal year to ¥435.65. The actual result against the medium-term target of at least ¥500 for the fiscal year ending March 2025 was presented. - FY2022-Q3Quantified the net asset target for the fiscal year ending March 2025Annual report
「We set 3 quantitative targets for the fiscal year ending March 2025: consolidated operating revenue of at least ¥20 billion, profit before income taxes of at least ¥700 million, and net assets per share of at least ¥500.」
In relation to the net assets previously emphasized, the medium-term vision added a time-bound quantitative target of net assets per share of at least ¥500 for the fiscal year ending March 2025. Meanwhile, total net assets at the end of the third quarter decreased 2.8% from the end of the previous fiscal year. - FY2022-Q2WorsenedAnnual report
「Total net assets decreased 1.9% from the end of the previous consolidated fiscal year to ¥5,959 million. This was mainly due to an ¥88 million decrease in retained earnings resulting from the quarterly net loss attributable to owners of the parent and a ¥38 million decrease resulting from dividends to shareholders, among other factors.」
Net assets, one of the key management indicators, decreased 1.9% from the end of the previous fiscal year due to the quarterly net loss and dividends. - FY2019AdvancedAnnual report
「Shareholders' equity, one of the financial indicators we emphasize most, increased by ¥24 million from the previous fiscal year to ¥5,442 million.」
Shareholders' equity, a key focus, increased by ¥24 million year on year to ¥5,442 million. Among the management indicators emphasized, including ROE, free cash flow generation and assets under management, a measurable increase was confirmed for shareholders' equity. - FY2017First statedAnnual report
「Our group is managing with a focus on ROE (return on equity), based on the recognition that using shareholders' equity as efficiently as possible is important for improving profitability and securing stable periodic earnings. We will also focus on growth in net assets and free cash flow generation as measures of sustainable growth. In addition, in the asset management business, we place importance on trends in assets under management.」
The company identified stable earnings, ROE, growth in net assets, free cash flow generation and assets under management in the asset management business as key management indicators.