Strengthening the Financial Base and Using Retained Earnings for Existing Businesses and New Investments
First written in FY2016. 14 of 27 entries say "Advanced", first in FY2021-Q1. Latest entry: 2026-08-05.
- FY2026AdvancedAnnual report
「Outflows from investing activities such as new investments and CAPEX amounted to ¥409.2 billion, and after deducting a further ¥235.3 billion in dividends to shareholders of the parent and funds for share repurchases, free cash flow after shareholder returns (excluding changes in operating funds and other items) (*) amounted to ¥221.8 billion in inflows.」
Allocated the current fiscal year's cash generation to ¥409.2 billion in growth investments and ¥235.3 billion in shareholder returns, securing ¥221.8 billion in free cash flow after shareholder returns. - 2026-04-17RestatedChanges in Officers
「There will be no change in the structure or policies governing the CFO's responsibilities following his appointment as CFO. We will continue to pursue the capital allocation strategy under GC2027 and work on the transformation initiatives beyond the framework of a general trading company announced in "Strengthening the Governance and Executive Structure to Implement Transformation—Toward a Corporate Group That Creates Value Beyond the Framework of a General Trading Company," published on 23 January 2026.」
In connection with the change in CFO, the Company reconfirmed that there would be no change in the structure or policies governing the CFO's responsibilities and that it would continue pursuing the GC2027 capital allocation strategy. - FY2026-H1Update on interim-period capital allocation resultsAnnual report
「Underlying operating cash flow for the interim consolidated accounting period generated ¥240.4 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥336.5 billion. Meanwhile, outflows from investing activities such as new investments and CAPEX amounted to ¥310.0 billion, and after deducting a further ¥115.7 billion in dividends to shareholders of the parent and funds for share repurchases, free cash flow after shareholder returns (excluding changes in operating funds and other items) (*3) amounted to ¥89.1 billion in outflows.」
Against ¥336.5 billion in inflows from operating cash flow and investment recoveries and other sources, ¥310.0 billion was allocated to new investments and CAPEX and ¥115.7 billion to shareholder returns, resulting in ¥89.1 billion in free cash flow after shareholder returns in outflows. - FY2025AdvancedAnnual report
「Underlying operating cash flow generated ¥606.6 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥765.8 billion. Meanwhile, outflows from investing activities such as new investments and CAPEX amounted to ¥554.6 billion, and after deducting a further ¥197.5 billion in dividends to shareholders of the parent and funds for share repurchases, free cash flow after shareholder returns (excluding changes in operating funds and other items) (*) amounted to ¥13.8 billion in inflows.」
As the fiscal-year results under GC2027's capital allocation policy, specifically presented cash generation from operations, growth investments, shareholder returns and free cash flow after shareholder returns. - FY2024AdvancedAnnual report
「Meanwhile, outflows from investing activities such as new investments and CAPEX amounted to ¥441.6 billion, and after deducting a further ¥188.6 billion in dividends to shareholders of the parent and funds for share repurchases, free cash flow after shareholder returns (excluding changes in operating funds and other items) (*) amounted to ¥24.9 billion in inflows.」
Allocated ¥655.2 billion in inflows from underlying operating cash flow and investment recoveries and other sources to ¥441.6 billion in growth investments and ¥188.6 billion in shareholder returns, securing ¥24.9 billion in free cash flow after shareholder returns. - FY2024-Q3Update on cumulative capital allocation through the third quarterAnnual report
「Basic operating cash flow for the cumulative third quarter was an inflow of ¥395.0 billion. Including inflows from investing activities, such as the sale of subsidiaries and investments accounted for under the equity method, total inflows were ¥479.5 billion. Meanwhile, outflows from investing activities, including new investments and CAPEX, were ¥361.2 billion. After deducting ¥184.4 billion in dividends to the parent company's shareholders and funds used to acquire treasury shares, post-shareholder-return free cash flow (excluding changes in operating funds and other items) (*3) was an outflow of ¥66.1 billion.」
For the third quarter to date, against ¥479.5 billion in inflows from underlying operating cash flow and investment recoveries and other sources, ¥361.2 billion was allocated to new investments and CAPEX and ¥184.4 billion to shareholder returns, resulting in ¥66.1 billion in free cash flow after shareholder returns in outflows. - FY2024-Q2AdvancedAnnual report
「Basic operating cash flow for the cumulative second quarter was an inflow of ¥266.4 billion. Including inflows from investing activities, such as the sale of subsidiaries and investments accounted for under the equity method, total inflows were ¥302.3 billion. Meanwhile, outflows from investing activities, including new investments and CAPEX, were ¥254.7 billion. After deducting ¥98.7 billion in dividends to the parent company's shareholders and funds used to acquire treasury shares, post-shareholder-return free cash flow (excluding changes in operating funds and other items) (*3) was an outflow of ¥51.2 billion.」
For the second quarter to date, against ¥302.3 billion in inflows from underlying operating cash flow and investment recoveries and other sources, ¥254.7 billion was allocated to new investments and CAPEX and ¥98.7 billion to shareholder returns, resulting in ¥51.2 billion in free cash flow after shareholder returns in outflows. - FY2024-Q1Update on cumulative capital allocation through the first quarterAnnual report
「Underlying operating cash flow for the first quarter-to-date consolidated period generated ¥141.8 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥156.9 billion. Meanwhile, outflows from investing activities such as new investments and CAPEX amounted to ¥135.7 billion, and after deducting a further ¥88.7 billion in dividends to shareholders of the parent and funds for share repurchases, free cash flow after shareholder returns (excluding changes in operating funds and other items) (*3) amounted to ¥67.5 billion in outflows.」
Against ¥156.9 billion in inflows from underlying operating cash flow and investment recoveries and other sources, ¥135.7 billion was spent on new investments and CAPEX and ¥88.7 billion on shareholder returns, resulting in ¥67.5 billion in free cash flow after shareholder returns in outflows. - FY2023AdvancedAnnual report
「Allocated a portion of free cash flow to debt repayment and the remainder to growth investments and strengthening shareholder returns」
After allocating approximately ¥330 billion in proceeds from the Gavilon grain business to debt repayment, presented a capital allocation policy under GC2024 that also uses free cash flow for growth investments and shareholder returns. - FY2023-Q3AdvancedAnnual report
「Basic operating cash flow for the cumulative third quarter was an inflow of ¥466.7 billion. Including inflows from investing activities, such as the sale of subsidiaries and investments accounted for under the equity method, including funds recovered from the sale of the Gavilon grain business, total inflows were ¥856.5 billion. Meanwhile, outflows from investing activities, including new investments and CAPEX, were ¥234.5 billion. After deducting ¥160.4 billion in dividends to the parent company's shareholders and funds used to acquire treasury shares, post-shareholder-return free cash flow (excluding changes in operating funds and other items) (*3) was an inflow of ¥461.5 billion. Of the approximately ¥330.0 billion equivalent to the funds recovered from the sale of the Gavilon grain business, the company allocated the amount to debt repayment.」
From ¥856.5 billion in inflows, including proceeds from the sale of the Gavilon grain business, ¥461.5 billion in free cash flow after shareholder returns was secured after deducting new investments and CAPEX and shareholder returns, and approximately ¥330 billion was allocated to debt repayment. - FY2023-Q2AdvancedAnnual report
「Basic operating cash flow for the cumulative second quarter was an inflow of ¥332.1 billion. Including inflows from investing activities, such as the sale of subsidiaries and investments accounted for under the equity method, total inflows were ¥378.4 billion. Meanwhile, outflows from investing activities, including new investments and CAPEX, were ¥208.2 billion. After deducting ¥73.8 billion in dividends to the parent company's shareholders and funds used to acquire treasury shares, post-shareholder-return free cash flow (excluding changes in operating funds and other items) (*3) was an inflow of ¥96.4 billion.」
For the second quarter to date, ¥37.84 billion in inflows from underlying operating cash flow and investment recoveries and other sources, less ¥208.2 billion in new investments and CAPEX and ¥73.8 billion in shareholder returns, resulted in ¥96.4 billion in free cash flow after shareholder returns. - FY2023-Q1Update on cumulative capital allocation through the first quarterAnnual report
「Basic operating cash flow for the cumulative first quarter was an inflow of ¥206.4 billion. Including inflows from investing activities, such as the sale of subsidiaries and investments accounted for under the equity method, total inflows were ¥239.4 billion. Meanwhile, outflows from investing activities, including new investments and CAPEX, were ¥126.0 billion. After deducting ¥73.8 billion in dividends to the parent company's shareholders and funds used to acquire treasury shares, post-shareholder-return free cash flow (excluding changes in operating funds and other items) (*3) was an inflow of ¥39.6 billion.」
For the first quarter to date, against ¥239.4 billion in inflows from underlying operating cash flow and investment recoveries and other sources, ¥126.0 billion was spent on new investments and CAPEX and ¥73.8 billion on shareholder returns, securing ¥39.6 billion in free cash flow after shareholder returns. - FY2022AdvancedAnnual report
「Free cash flow after shareholder returns, calculated by deducting ¥82.5 billion in dividends to shareholders of the parent and ¥19.2 billion in funds for share repurchases from free cash flow, amounted to ¥130.5 billion in inflows.」
Generated ¥570.5 billion in underlying operating cash flow and ¥232.3 billion in free cash flow, securing ¥130.5 billion in free cash flow after shareholder returns even after dividends and share repurchases. - FY2022-Q3ReframedAnnual report
「Capital allocation policy: strengthen growth investments and shareholder returns while continuously enhancing and strengthening the financial base ・Maximize underlying operating cash flow ・Maintain positive cumulative three-year free cash flow after shareholder returns, excluding changes in working capital and other items」
Capital allocation was reorganized from revised GC2021, which prioritized regenerating and strengthening the financial base and repaying debt, to GC2024, which strengthens growth investments and shareholder returns while maintaining and strengthening the financial base. - FY2022-Q2AdvancedAnnual report
「Underlying operating cash flow for the second quarter-to-date consolidated period generated ¥252.2 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥302.0 billion. Meanwhile, total outflows, including ¥36.1 billion in outflows from changes in operating funds and other items and outflows from investing activities such as new investments and CAPEX, amounted to ¥160.9 billion, resulting in free cash flow of ¥141.0 billion in inflows.」
Against ¥302.0 billion in inflows from underlying operating cash flow and investment recoveries and other sources, outflows totaled ¥160.9 billion, resulting in free cash flow of ¥141.0 billion in inflows. - FY2022-Q1Update on cumulative capital allocation through the first quarterAnnual report
「Underlying operating cash flow for the first quarter-to-date consolidated period generated ¥129.5 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥152.8 billion. Meanwhile, total outflows, including ¥167.8 billion in outflows from changes in operating funds and other items and outflows from investing activities such as new investments and CAPEX, amounted to ¥238.2 billion, resulting in free cash flow of ¥85.3 billion in outflows.」
Against ¥152.8 billion in inflows from underlying operating cash flow and investment recoveries, outflows for operating funds and other items and new investments and CAPEX totaled ¥238.2 billion, resulting in free cash flow of ¥85.3 billion in outflows. - FY2021AdvancedAnnual report
「Free cash flow after shareholder returns amounted to ¥231.3 billion in inflows and was allocated to the repayment of corporate bonds, borrowings, lease liabilities and other obligations.」
In line with revised GC2021, prioritized allocating ¥231.3 billion in free cash flow after shareholder returns to debt repayment rather than growth investments. - FY2021-Q3Update on cumulative capital allocation through the third quarterAnnual report
「Underlying operating cash flow generated ¥272.9 billion in inflows, and total inflows, including inflows from investing activities such as the sale of subsidiaries and investments accounted for under the equity method, amounted to ¥342.4 billion. Meanwhile, total outflows, including ¥102.8 billion in outflows from changes in operating funds and other items and outflows from investing activities such as new investments and CAPEX, amounted to ¥294.5 billion, resulting in free cash flow of ¥47.9 billion in inflows.」
Against ¥342.4 billion in inflows from underlying operating cash flow and investment recoveries, outflows for operating funds and other items and new investments and CAPEX totaled ¥294.5 billion, resulting in free cash flow of ¥47.9 billion in inflows. - FY2021-Q2AdvancedAnnual report
「Free cash flow after shareholder returns, calculated by deducting dividends of ¥30.4 billion paid to the parent company's shareholders from free cash flow, was an inflow of ¥6.7 billion and was applied to the repayment of bonds and borrowings, lease liabilities and other obligations.」
In line with the capital allocation policy prioritizing the regeneration and strengthening of the financial base, allocated ¥6.7 billion in free cash flow after shareholder returns to debt repayment. - FY2021-Q1AdvancedAnnual report
「Free cash flow after shareholder returns amounted to ¥4.1 billion in inflows and was allocated to the repayment of corporate bonds, borrowings, lease liabilities and other obligations.」
Reported that free cash flow after shareholder returns had been allocated to debt repayment in line with the capital allocation policy prioritizing the regeneration and strengthening of the financial base. - FY2020ReframedAnnual report
「With the regeneration and strengthening of the financial base as our top priority, the Group is pursuing cash flow-focused management, prioritizing debt repayment using positive cumulative three-year free cash flow after shareholder returns, and aims to improve the net debt-to-equity ratio to approximately 1.0x by the end of fiscal 2021.」
The previous policy of using retained earnings for growth investments and strengthening the financial base was reorganized into a capital allocation policy that gives top priority to regenerating the financial base and repaying debt. - FY2019RestatedAnnual report
「While pursuing the maximization of underlying operating cash flow, we will further strengthen our financial position, enhance shareholder returns, and allocate capital to growth as part of our capital allocation policy.」
Reaffirmed, as the capital allocation policy under GC2021, the policy of allocating internal funds and other resources to shareholder returns and growth investments while strengthening the financial base. - FY2017RestatedAnnual report
「We will expand retained earnings and establish a strong financial base, while enhancing corporate value by strengthening existing businesses and pursuing new investment strategies.」
Reiterated the policy of using retained earnings to strengthen the financial base, reinforce existing businesses and pursue new investment strategies. - FY2016First statedAnnual report
「We will expand retained earnings and establish a strong financial base, while enhancing corporate value by strengthening existing businesses and pursuing new investment strategies.」
Presented retained earnings, the financial base, business strengthening and investment strategies as the basic principles of capital allocation.