Komori
Marubeni (8002) · TargetAdvanced

Improving the net D/E ratio to approximately 1.3x

First written in FY2016. 17 of 38 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2026.

38entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseOtherFY2024-Q1 – FY2026-H12016: 320162017: 420172018: 420182019: 420192020: 420202021: 420212022: 420222023: 420232024: 320242025: 220252026: 22026
Same theme, other companies
Capital Management Based on Net Interest-Bearing Debt and Equity Efficiency MetricsA theme 33 companies write about · 1 as a headwind · 29 as a tailwind

The whole theme swung hardest in 2017: 3 of 14 companies on the "Worse" side.

8 other companies' latest entry also says "Advanced".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 33 companies compared. The sentences above are computed from all 33.
Full recordFilings, disclosures and news, newest first
  1. FY2026AdvancedAnnual report

    「As a result, the net debt-to-equity ratio was 0.43x.」

    The net debt-to-equity ratio declined from 0.54x at the previous year-end to 0.43x, updating the year-end financial leverage result.
  2. 2026-05-01AdvancedEarnings

    「The net debt-to-equity ratio declined from 0.54x to 0.43x.」

    The fiscal year-end net debt-to-equity ratio declined from the previous fiscal year-end.
  3. FY2026-H1Update of the net debt-to-equity ratio at the end of the interim periodAnnual report

    「As a result, the net debt-to-equity ratio was 0.53x.」

    The net debt-to-equity ratio declined from 0.54x at the previous year-end to 0.53x.
  4. FY2025Update of the year-end net debt-to-equity ratioAnnual report

    「As a result, the net debt-to-equity ratio was 0.54x.」

    The ratio declined from 0.55x at the previous year-end to 0.54x. The year-end financial leverage result was updated within the GC2024 target range.
  5. FY2025-H1Update of the net debt-to-equity ratio at the end of the interim periodAnnual report

    「As a result, the net debt-to-equity ratio was 0.64x.」

    The net debt-to-equity ratio rose from 0.55x at the previous year-end to 0.64x at the end of the current interim consolidated accounting period. Free cash flow outflows, dividends and share repurchases were cited as factors behind the increase.
  6. FY2024Update of the year-end net debt-to-equity ratio and outlook for the following fiscal yearAnnual report

    「Net debt-to-equity ratio　0.52x　0.55x　Approximately 15%　(approximately 0.6–0.7x)」

    The net debt-to-equity ratio rose from 0.52x at the previous year-end to 0.55x. Against the GC2024 target range of approximately 0.7–0.8x, the outlook for FY2024 was set at approximately 0.6–0.7x.
  7. FY2024-Q3Update of the net debt-to-equity ratio at the end of the third quarterAnnual report

    「As a result, the net debt-to-equity ratio was 0.61x.」

    The net debt-to-equity ratio rose from 0.52x at the previous year-end and 0.55x at the end of the second quarter to 0.61x. Free cash flow outflows, dividends and voluntary repayment of ¥150.0 billion in perpetual subordinated loans were cited as factors behind the increase.
  8. FY2024-Q2Update to the net debt-to-equity ratio at the end of the second quarterAnnual report

    「As a result, the net debt-to-equity ratio was 0.55x.」

    The net debt-to-equity ratio rose from 0.52x at the previous year-end to 0.55x. Voluntary repayment of ¥150.0 billion in perpetual subordinated loans, dividends and the impact of the weaker yen were cited as factors behind the increase.
  9. FY2024-Q1Update to the net debt-to-equity ratio at the end of the first quarterAnnual report

    「As a result, the net debt-to-equity ratio was 0.52x.」

    The net debt-to-equity ratio was 0.52x at the end of the first quarter, unchanged from 0.52x at the end of the previous fiscal year.
  10. FY2023AdvancedAnnual report

    「As a result, the net debt-to-equity ratio was 0.52x.」

    Against the GC2024 target range of approximately 0.7–0.8x, the net debt-to-equity ratio was 0.52x at the end of the fiscal year. The denominator in the calculation is total equity attributable to owners of the parent.
  11. FY2023-Q3AdvancedAnnual report

    「The net debt-to-equity ratios at the end of the previous consolidated fiscal year and the third quarter of the current consolidated fiscal year were 0.83x and 0.58x, respectively. As a result, the net debt-to-equity ratio was 0.58x.」

    The net debt-to-equity ratio declined by 0.25 points from 0.83x at the previous year-end, based on the revised formula, to 0.58x at the end of the third quarter.
  12. FY2023-Q2Update to the net debt-to-equity ratio at the end of the second quarterAnnual report

    「Total assets at the end of the second quarter of the current consolidated fiscal year increased by ¥1,073.7 billion from the end of the previous fiscal year to ¥9,329.3 billion, mainly due to the impact of the weaker yen. Net interest-bearing debt increased by ¥157.0 billion from the end of the previous fiscal year to ¥2,017.0 billion, despite cash inflows from free cash flow, due to the impact of the weaker yen, dividend payments and the transfer of cash and cash equivalents from the Gavilon grain business to assets held for sale during the second quarter of the current consolidated fiscal year. Total equity attributable to owners of the parent increased by ¥627.4 billion from the end of the previous fiscal year to ¥2,869.6 billion, mainly due to an increase in retained earnings from the accumulation of net income and an increase in foreign currency translation adjustments for foreign operations resulting from the weaker yen. As a result, the net debt-to-equity ratio was 0.70x.」

    The net debt-to-equity ratio declined from 0.83x at the previous year-end, based on the revised formula, to 0.70x at the end of the second quarter.
  13. FY2023-Q1ReframedAnnual report

    「Beginning with the current consolidated fiscal year, we changed the denominator in the net debt-to-equity ratio calculation from "total equity" to "total equity attributable to owners of the parent." Accordingly, we recalculated the net debt-to-equity ratio at the end of the previous consolidated fiscal year using the revised formula. As a result, the net debt-to-equity ratio was 0.78x.」

    The denominator in the net debt-to-equity ratio calculation was changed, and the previous year-end figure was restated at 0.83x using the revised formula, while the figure at the end of the first quarter was reported as 0.78x.
  14. FY2022AdvancedAnnual report

    「Net debt-to-equity ratio　Approximately 0.7x (*)　Approximately 0.8x (*) Revised to approximately 1.0x under the revised GC2021.」

    The net debt-to-equity ratio was 0.80x at the end of FY2021, below the approximately 1.0x target under the revised GC2021. GC2024 set a target of approximately 0.7–0.8x.
  15. FY2022-Q3RaisedAnnual report

    「Net debt-to-equity ratio　Approximately 0.7x (*)　Approximately 0.8x (*) Revised to approximately 1.0x under the "Revised GC2021"」

    The net debt-to-equity ratio was 0.84x at the end of the third quarter, while GC2024 set a target of approximately 0.7–0.8x.
  16. FY2022-Q2Update to the net debt-to-equity ratio at the end of the second quarterAnnual report

    「As a result, the net debt-to-equity ratio was 0.89x.」

    The net debt-to-equity ratio increased from 0.88x at March 2021 to 0.89x.
  17. FY2022-Q1Update to the net debt-to-equity ratio at the end of the first quarterAnnual report

    「As a result, the net debt-to-equity ratio was 0.94x.」

    The net debt-to-equity ratio increased from 0.88x at March 2021 to 0.94x, updating the first-quarter-end result against the target of improving the ratio to approximately 1.0x at fiscal year-end 2021.
  18. FY2021AchievedAnnual report

    「Net debt-to-equity ratio at fiscal year-end 2020 declined to 0.88x, achieving ahead of schedule the target of approximately 1.0x at fiscal year-end 2021」

    It was stated that the target net debt-to-equity ratio of approximately 1.0x at fiscal year-end 2021 was achieved ahead of schedule at 0.88x at fiscal year-end 2020.
  19. FY2021-Q3AdvancedAnnual report

    「As a result, the net debt-to-equity ratio was 1.06x.」

    The net debt-to-equity ratio declined from 1.16x at the end of the previous fiscal year to 1.06x. This was an update to the third-quarter-end result against the policy of improving the ratio to approximately 1.0x at fiscal year-end 2021.
  20. FY2021-Q2AdvancedAnnual report

    「As a result, the net debt-to-equity ratio was 1.10x.」

    The net debt-to-equity ratio declined from 1.16x at the end of the previous fiscal year to 1.10x.
  21. FY2021-Q1AdvancedAnnual report

    「The net debt-to-equity ratio was 1.13x.」

    The net debt-to-equity ratio declined from 1.16x at the end of the previous fiscal year to 1.13x. This was an update to the quarter-end result toward the target of improving the ratio to approximately 1.0x at fiscal year-end 2021.
  22. FY2020SoftenedAnnual report

    「Because shareholder equity was impaired by the loss recorded for fiscal 2019, causing the net debt-to-equity ratio to deteriorate to 1.16x, and because cash-generation capacity was expected to decline due to the spread of COVID-19 and other factors, the target net debt-to-equity ratio at fiscal year-end 2021 was revised from the initial target of approximately 0.7x to approximately 1.0x.」

    The target net debt-to-equity ratio at fiscal year-end 2021 was relaxed from approximately 0.7x to approximately 1.0x, and the actual ratio at the end of the fiscal year was 1.16x.
  23. FY2020-Q3AdvancedAnnual report

    「As a result, the net debt-to-equity ratio at the end of the third-quarter consolidated accounting period was 0.89x.」

    The net debt-to-equity ratio declined from 0.91x at the end of the second quarter to 0.89x. No change to the financial-base strengthening policy of targeting approximately 0.7x at fiscal year-end 2021 was stated.
  24. FY2020-Q2AdvancedAnnual report

    「As a result, the net debt-to-equity ratio at the end of the second-quarter consolidated accounting period was 0.91x.」

    The net debt-to-equity ratio declined from 0.95x at the end of the first quarter to 0.91x. No change to the financial-base strengthening policy of targeting approximately 0.7x at fiscal year-end 2021 was stated.
  25. FY2020-Q1Update to the net debt-to-equity ratio at the end of the first quarterAnnual report

    「As a result, the net debt-to-equity ratio at the end of the first-quarter consolidated accounting period was 0.95x.」

    The net debt-to-equity ratio increased from 0.90x at the end of the previous consolidated fiscal year to 0.95x. No change to the policy of targeting approximately 0.7x at fiscal year-end 2021 was stated.
  26. FY2019RaisedAnnual report

    「Subject to achieving the post-shareholder-return free cash flow target」

    The net debt-to-equity ratio at fiscal year-end 2018 was 0.90x, below the previous target of approximately 1.0x. GC2021 set a target of approximately 0.7x at fiscal year-end 2021 and also explicitly stated the relationship with the post-shareholder-return free cash flow target.
  27. FY2019-Q3AdvancedAnnual report

    「As a result, the net debt-to-equity ratio at the end of the third-quarter consolidated accounting period was 0.99x.」

    The net debt-to-equity ratio declined from 1.00x at the end of the second quarter to 0.99x. There was no change to the financial-base strengthening target itself of approximately 0.8x by the end of the fiscal year ending March 2021 at the latest.
  28. FY2019-Q2AdvancedAnnual report

    「As a result, the net debt-to-equity ratio at the end of the second-quarter consolidated accounting period was 1.00x.」

    The net debt-to-equity ratio declined from 1.05x at the end of the first quarter to 1.00x. There was no change to the financial-base strengthening target itself under the revised medium-term management plan.
  29. FY2019-Q1Update to quarter-end resultsAnnual report

    「The net debt-to-equity ratio at the end of the first-quarter consolidated accounting period was 1.05x.」

    While there was no material change to the financial-base strengthening target itself, the net debt-to-equity ratio at the end of the first quarter was stated as 1.05x.
  30. FY2018AdvancedAnnual report

    「Free cash flow after dividends for the consolidated fiscal year was ¥158.6 billion, and the net debt-to-equity ratio was 1.04x. The initial forecast for fiscal year 2018 projected a net debt-to-equity ratio of approximately 0.9x, and the company will continue working to strengthen its financial base.」

    The targets of approximately 1.0x at fiscal year-end March 2019 and approximately 0.8x by the end of the fiscal year ending March 2021 at the latest were maintained, and the actual ratio at the end of the fiscal year was 1.04x.
  31. FY2018-Q3AdvancedAnnual report

    「●Continue to prioritize strengthening the financial base and reduce the net debt-to-equity ratio to approximately 0.8x by the end of the fiscal year ending March 2021 at the latest The net debt-to-equity ratio at the end of the third-quarter consolidated accounting period was 1.13x.」

    The target of approximately 0.8x by the end of the fiscal year ending March 2021 was maintained, and the actual ratio at the end of the third quarter was 1.13x.
  32. FY2018-Q2AdvancedAnnual report

    「●Continue to prioritize strengthening the financial base and reduce the net debt-to-equity ratio to approximately 0.8x by the end of the fiscal year ending March 2021 at the latest Net debt-to-equity ratio Fiscal year-end March 2018: approximately 1.1x 1.18x」

    The targets of approximately 0.8x by the end of the fiscal year ending March 2021 and approximately 1.1x at fiscal year-end March 2018 were maintained, and the actual ratio at the end of the second quarter was 1.18x.
  33. FY2018-Q1RestatedAnnual report

    「●Continue to prioritize strengthening the financial base and reduce the net debt-to-equity ratio to approximately 0.8x by the end of the fiscal year ending March 2021 at the latest Net debt-to-equity ratio Fiscal year-end March 2018: approximately 1.1x 1.25x」

    The revised target of approximately 0.8x by the end of the fiscal year ending March 2021 was reiterated. The net debt-to-equity ratio at the end of the first quarter was stated as 1.25x, with the forecast for fiscal year-end March 2018 at approximately 1.1x.
  34. FY2017RaisedAnnual report

    「Reduce the net debt-to-equity ratio to approximately 0.8x by the end of the fiscal year ending March 2021 at the latest」

    The revised medium-term management plan set a fiscal year-end March 2019 target of approximately 1.0x and a target of approximately 0.8x by the end of the fiscal year ending March 2021 at the latest as part of its policy to strengthen the financial base. The actual ratio at the end of March 2017 was 1.20x.
  35. FY2017-Q3AdvancedAnnual report

    「Net debt-to-equity ratio　Fiscal year-end March 2019: approximately 1.3x　(Fiscal year-end March 2017: earnings forecast of approximately 1.3x)　1.39x」

    The fiscal year-end March 2019 target of approximately 1.3x was maintained. The earnings forecast for the fiscal year ended March 2017 changed from approximately 1.4x to approximately 1.3x, and the actual ratio at the end of the third quarter was 1.39x.
  36. FY2017-Q2AdvancedAnnual report

    「Net debt-to-equity ratio　Fiscal year-end March 2019: approximately 1.3x　(Fiscal year-end March 2017: earnings forecast of approximately 1.4x)　1.53x」

    The fiscal year-end March 2019 target of approximately 1.3x was maintained, while the earnings forecast for the fiscal year ended March 2017 changed from 1.7x or less to approximately 1.4x. The actual ratio at the end of the second quarter was 1.53x.
  37. FY2017-Q1RestatedAnnual report

    「Net debt-to-equity ratio　Fiscal year-end March 2019: approximately 1.3x　*(Fiscal year-end March 2017: earnings forecast of 1.7x or less)　2.03x」

    The target and the earnings forecast for the fiscal year ended March 2017 were maintained. The actual ratio at the end of the quarter was stated as 2.03x.
  38. FY2016First statedAnnual report

    「Fiscal year-end March 2019　Approximately 1.3x」

    The actual ratio at the end of the period was 1.95x, and the medium-term plan targeted strengthening the financial base and reducing leverage.
Moved together

"Achievement of the ¥250 billion target for net income attributable to owners of the parent" moved the same way as this thread, in the same document, in 18 of its 38 moves.

181515131212★123456
  1. ★This thread
  2. 1Achievement of the ¥250 billion target for net income attributable to owners of the parent18×
  3. 2Expansion of New Investments and Loans15×
  4. 3Maximizing Operating Cash Flow and Reinvestment in Growth Businesses15×
  5. 4Investment in Power Businesses, Including Offshore Wind and Solar13×
  6. 5Three-year cumulative positive free cash flow after dividends12×
  7. 6Balancing Growth, Stable Profitability and High-Volatility Businesses, and Exiting Non-Core Businesses12×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Marubeni yet. It last moved in the Earnings of 2026-05-01: "Advanced".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Improving the net D/E ratio to approximately 1.3x | Marubeni Corporation (8002) | Komori