Management That Takes Capital Costs and the Share Price into Account and Stronger IR
First written in FY2024. 2 of 4 entries say "Worsened", first in 2026-05-30. Latest entry: FY2026.
Subaru moved to the "Worse" side of this theme in 2026.
The whole theme swung hardest in 2024: 2 of 13 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「By implementing four initiatives—“improving ROE,” “optimal capital allocation / increasing value per share,” “improving PER” and “improving effectiveness”—the Company is pursuing, as long-term targets toward 2030, “industry-leading profitability” and “ROE of at least 10%.”」
The four themes focused on the cost of capital and share price and the long-term target of ROE of at least 10% were maintained, but ROE for the current fiscal year was 3.3% and PBR was 0.6x, widening the gap from the targets. - 2026-05-30WorsenedGeneral Meetings of Shareholders
「ROE for the fiscal year ending March 2026 remained at 3.3%, due to additional tariffs in the United States and the recording of environmental-regulation-related expenses, including losses related to environmental regulatory credits and BEV-related expenses.」
Actual ROE of 3.3% demonstrated the gap from the previously stated target of at least 10%. - FY2025AdvancedAnnual report
「By implementing four initiatives—“improving ROE,” “optimal capital allocation / increasing value per share,” “improving PER” and “improving effectiveness”—the Company is pursuing, as long-term targets toward 2030, “industry-leading profitability” and “ROE of at least 10%.”」
Regarding management focused on the cost of capital and share price, the Company specified four execution themes toward 2030 and updated the current status of WACC, ROE, PBR and PER, as well as issues related to strengthening IR. - FY2024First statedAnnual report
「The Company believes that “achieving management that is conscious of the cost of capital and share price” is essential for sustainable growth. The Company will further strengthen its IR activities and seek to increase expectations for the Company by disclosing progress on its electrification strategy, a pillar of its growth.」
Based on capital market indicators of a mid-6% WACC, ROE of at least 10%, PBR of approximately 1x and PER of 7–8x, the Company identified for the first time, as an independent theme, a policy of enhancing corporate value through stronger IR activities, including disclosures on progress in its electrification strategy.