ROE of at least 10% and cash-flow-based management
First written in FY2020. 2 of 7 entries say "Advanced", first in FY2021. Latest entry: FY2026.
The whole theme swung hardest in 2020: 14 of 68 companies on the "Worse" side.
13 other companies' latest entry also says "Raised".
- FY2026RaisedAnnual report
「The company sets sales of at least ¥1.6 trillion (average annual growth rate of at least 10.0%), an operating margin of at least 5.5%, an EBITDA-to-sales ratio of at least 7.2%, and ROE of at least 15% as KPIs. To balance investment with financial soundness, it also sets net interest-bearing debt/EBITDA of no more than 3.0x and net D/E of no more than 0.6x as metrics.」
The company has raised its target from the previous ROE of at least 10% to new financial KPIs including ROE of at least 15%, and has also set a leverage ceiling. - 2026-04-09RaisedEarnings
「For the final year, the fiscal year ending February 2031, the Company has set KPIs of net sales of at least ¥1.6 trillion, an annual average growth rate of at least 10.0%, an operating margin of at least 5.5%, an EBITDA-to-sales ratio of at least 7.2% and ROE of at least 15%.」
Compared with the previous policy of ROE of at least 10%, the new medium-term plan sets ROE of at least 15% as a KPI. - FY2025AdvancedAnnual report
「Return on equity (%) 11.0 9.4 8.8 9.8 10.6」
ROE was 10.6%, up from 9.8% in the previous fiscal year and above the level under the basic policy of ROE of at least 10%. - FY2023ROE declines furtherAnnual report
「Return on equity (%) 10.9 11.9 11.0 9.4 8.8」
ROE was 8.8% in the current consolidated fiscal year, down further from 9.4% in the previous fiscal year and below the basic policy of ROE of at least 10%. - FY2022ROE falls below 10%Annual report
「Return on equity (%) 10.6 10.9 11.9 11.0 9.4」
ROE was 9.4% in the current consolidated fiscal year, below the level under the previously stated basic policy of ROE of at least 10%. - FY2021AdvancedAnnual report
「Return on equity (%) 10.5 10.6 10.9 11.9 11.0」
ROE was 11.0% in the current consolidated fiscal year, exceeding the level under the previously stated basic policy of ROE of at least 10%. - FY2020First statedAnnual report
「In addition to securing profit, we will prioritize cash-flow management, which monitors cash movements, as a management metric. From the perspective of capital efficiency, our basic policy is to maintain ROE (return on equity) of at least 10%, and we will work to increase corporate value through further improvement.」
The company newly explicitly identifies management metrics that prioritize cash-flow management and adopts ROE of at least 10% as a basic policy.