Management Indicators under the Medium-Term Management Policy (Fiscal Years Ending March 2020 to March 2025)
First written in FY2019. 3 of 10 entries say "Reframed", first in FY2020-Q2. Latest entry: FY2026.
The whole theme swung hardest in 2025: 8 of 35 companies on the "Worse" side.
12 other companies' latest entry also says "Other".
- FY2026Failure to Meet Profitability Targets in the Final Year of the Medium-Term Management PlanAnnual report
「Operating income was ¥51.6 billion, down ¥134.5 billion year on year, or 72.3%, and the consolidated operating margin was 1.0%, down 2.7 percentage points year on year.」
In the final year of the medium-term management plan, sales were ¥4.9182 trillion and net cash was ¥443 billion, while ROS was 1.0% and ROE was 1.9%, below the previously stated targets of ROS of at least 5% and ROE of at least 10%. - FY2025Sales and net cash on track, profitability metrics below targetAnnual report
「During the 3 years of Phase 1, shipments increased by 25%, and sales reached a record high alongside an increase in average selling prices. Driven by 4 Large products and strong sales in North America, net cash during the 3 years of Phase 1 exceeded ¥400 billion, indicating progress in strengthening the financial position.」
Against the medium-term management plan's sales target of approximately ¥4.5 trillion, sales for the current fiscal year were ¥5.0189 trillion and net cash was ¥400.3 billion. However, ROS was 3.7%, below the target of at least 5%, and ROE was 6.5%, below the target of at least 10%. - FY2023AdvancedAnnual report
「The financial metrics for the fiscal year ending March 2026, the final year of the medium-term management plan, are as follows: sales: approximately ¥4.5 trillion; profitability: operating margin (ROS) of at least 5%, ROE of at least 10%; future investment: capital expenditure plus development investment at no more than 7–8% of sales; financial base: maintain net cash; shareholder returns: stable payout ratio of at least 30%; break-even volume: approximately 1 million units (shipments)」
Regarding the November 2022 update to the medium-term management plan, the Company specified targets for the fiscal year ending March 2026 for sales, ROS, ROE, investment ratio, net cash and payout ratio, as well as a break-even volume of approximately 1 million units. - FY2023-Q3ReframedAnnual report
「The Group announced an update to its medium-term management plan and its 2030 Management Policy on 22 November 2022.」
The filing states that the Company announced an update to its previous medium-term management plan on 22 November 2022 and newly announced its 2030 Management Policy. However, this filing does not provide specific targets or details of initiatives following the update. - FY2022AdvancedAnnual report
「The Company positioned the period through the current fiscal year as one for establishing the foundation and completed preparations as planned for full-scale growth from the fiscal year ending March 2023.」
Regarding the medium-term management plan covering the fiscal years ending March 2020 through March 2026, the Company explained that it had completed the foundation-building phase through the current fiscal year and would move to the stage of full-scale growth from the fiscal year ending March 2023. - FY2021-Q2ReframedAnnual report
「The Group announced a review of its medium-term management plan on 9 November of this year.」
The filing states that the Company announced a review of its previous medium-term management plan on 9 November 2020. This filing does not provide details of the review. - FY2020SoftenedAnnual report
「The outlook for a recovery in global automotive demand is uncertain because of the impact of COVID-19, and difficult conditions are also anticipated. In response to this business environment, while maintaining the Medium-Term Management Policy, the Company will maximize efficiency in every area and review the scale and timing of initiatives and targets under the medium-term management plan.」
While maintaining the Medium-Term Management Policy itself, the Company indicated that it would review the scale and timing of the plan's initiatives and targets in response to the uncertain demand recovery. - FY2020-Q3RestatedAnnual report
「Medium-Term Management Plan: metrics for the fiscal year ending March 2025: sales: approximately ¥4.5 trillion; profitability: stable profit generation; operating margin (ROS): 5% or higher / ROE: 10% or higher; future investment: capital expenditure plus development investment at 7–8% of sales (average); financial base: maintain net cash; shareholder returns: stable payout ratio of at least 30%; unit sales: approximately 1.8 million vehicles」
The Company reiterated the same targets as in the previous quarter for sales, ROS, ROE, investment ratio, net cash, payout ratio and unit sales for the fiscal year ending March 2025. It also maintained the framework of establishing the foundation during the first 3 years of the plan and recouping investment during the latter 3 years. - FY2020-Q2ReframedAnnual report
「The first 3 years of the 6-year medium-term management plan will be a period of establishing the foundation. While investing in a new generation of products, including responses to CASE, the Company will evolve its current-generation products and develop its Small product lineup into an earnings base. The latter 3 years will be a period for recouping prior investments through the introduction of its Large product lineup, with the plan targeting an operating margin of at least 5% for the fiscal year ending March 2025.」
The previously announced Medium-Term Management Policy was developed into a specific medium-term management plan divided into 3 years of establishing the foundation and 3 years of recouping investment. The plan sets out the development of the Small product lineup into an earnings base, the introduction of the Large product lineup and a phased target of ROS of at least 5% for the fiscal year ending March 2025. - FY2019First statedAnnual report
「Medium-Term Management Policy (fiscal years ending March 2020 to March 2025): Three areas requiring focused allocation of management resources and action: investment in distinctive products and customer experiences; curbing spending that reduces brand value; investment in lagging areas. Metrics for the fiscal year ending March 2025: sales: approximately ¥4.5 trillion; profitability: stable profit generation; ROS: 5% or higher / ROE: 10% or higher; future investment: capital expenditure plus development investment at 7–8% of sales (average); financial base: maintain net cash; shareholder returns: stable payout ratio of at least 30%; unit sales: approximately 1.8 million vehicles」
For the fiscal year ending March 2025, the Company set targets of approximately ¥4.5 trillion in sales, ROS of at least 5%, ROE of at least 10%, investment equivalent to 7–8% of sales, maintenance of net cash, a payout ratio of at least 30% and unit sales of approximately 1.8 million vehicles.