Capital Expenditures and Shareholder Returns Funded Primarily with Internal Funds, and M&A Financing
First written in FY2018. 2 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2019: 2 of 10 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Although the Company plans to fund the capital required for near-term capital expenditures and shareholder returns, among other items, with internal funds, it continues to consider investments such as M&A that could provide new sources of revenue and contribute to enhancing corporate value, and is therefore also continuing to consider financing through borrowings from financial institutions and other means.」
The financing policy of generally using internal funds for capital expenditures and shareholder returns, while also considering borrowings and other funding for M&A and similar investments, remains in place. - FY2024-Q3ReframedAnnual report
「The funds are scheduled to be held for M&A and, by the end of March 2026, used for M&A aimed at further advancing the domestic and overseas multi-brand strategy and further evolving the Mass Merchandising System (MMD) by strengthening the procurement, manufacturing and logistics functions that support its expansion.」
In addition to the previous policy of using internal funds for capital expenditures and shareholder returns while considering borrowings and other external funding for M&A, an actual example has been added of financing through public offerings and other means, with the proceeds held in reserve for M&A. - FY2023RestatedAnnual report
「Although the Company plans to fund near-term capital expenditures and shareholder returns, among other items, with internal funds, it continues to consider investments such as M&A that could provide new sources of revenue and contribute to enhancing corporate value, and is also considering financing through borrowings from financial institutions and other means.」
The Company continues to pursue a financing policy of generally using internal funds for capital expenditures and shareholder returns, while considering borrowings and other external funding for M&A and similar investments. - FY2018First statedAnnual report
「The Company plans to fund near-term capital expenditures and shareholder returns primarily with internal funds. However, it continually considers investments such as M&A because incorporating them into the Group’s MMD (mass merchandising system) is expected to generate Group synergies, create new sources of revenue and contribute to enhancing corporate value. The Company will also arrange financing, including borrowings from financial institutions, as needed.」
The Company indicates that capital expenditures and shareholder returns will be funded primarily with internal funds, while external financing, including borrowings, will also be used for M&A and other investments.