Improving risk-return through the management of risk assets and shareholders' equity
First written in FY2016. 14 of 28 entries say "Restated". Latest entry: 2026-05-21.
No other company in this theme has enough history to compare yet.
- 2026-05-21WorsenedGeneral Meetings of Shareholders
「ネットのデット・エクイティ・レシオ（注3） 0.68倍 +0.11倍」
ネットのデット・エクイティ・レシオは0.68倍となり、前期末から0.11ポイント上昇した。 - FY2026-H1AdvancedAnnual report
「Net interest-bearing debt (Note) 4 26,725 26,669 Net DER (Note) 5 0.57 0.55 △0.03pt」
Net interest-bearing debt decreased by ¥5.6 billion from the end of the previous consolidated fiscal year, and net DER declined from 0.57x to 0.55x. - FY2025RestatedAnnual report
「Net interest-bearing debt 25,234 26,725 Net DER 0.6 0.6 ±0.0pt」
Although net interest-bearing debt increased, net DER remained at 0.6x due to an increase in shareholders' equity. - FY2024-Q3RestatedAnnual report
「Net interest-bearing debt (Note) 4 24,844 26,332 Net DER (Note) 5 0.7 0.6 △0.1pt」
Net DER declined from 0.7x at the end of the previous fiscal year to 0.6x at the end of the third quarter, remaining unchanged from 0.6x at the end of the previous quarter. - FY2024-Q2AdvancedAnnual report
「Net interest-bearing debt (Note) 4 24,844 25,263 Net DER (Note) 5 0.7 0.6 △0.1pt」
Net DER declined from 0.7x at the end of the previous fiscal year to 0.6x at the end of the second quarter. Although net interest-bearing debt increased, financial metrics improved due to an increase in shareholders' equity and other factors. - FY2024-Q1AdvancedAnnual report
「As a result, the net debt-to-equity ratio (net interest-bearing debt / total equity attributable to owners of the parent) was 0.6x.」
The net D/E ratio declined from 0.7x at the end of the previous fiscal year to 0.6x, indicating an improvement in financial soundness. - FY2023-Q3Increase in net D/E ratioAnnual report
「As a result, the net debt-to-equity ratio (net interest-bearing debt / total equity attributable to owners of the parent) was 0.7x.」
The net D/E ratio was 0.7x at both the end of the previous fiscal year and the end of the third quarter, but increased from 0.6x at the end of the previous quarter. - FY2023-Q2AdvancedAnnual report
「As a result, the net debt-to-equity ratio (net interest-bearing debt / total equity attributable to owners of the parent) was 0.6x.」
The net D/E ratio declined from 0.7x at the end of the previous fiscal year to 0.6x. - FY2022AdvancedAnnual report
「Supported by the recovery in the business environment, the Company steadily accumulated profits, resulting in the debt-to-equity ratio declining from 0.9x at the end of the previous fiscal year to 0.7x, while risk assets remained within the core risk buffer. The Company continues to adhere to the policy of generating positive post-dividend free cash flow over the 3 years of SHIFT 2023 and will work to improve financial soundness.」
The net D/E ratio declined from 0.9x to 0.7x, and risk assets remained within the core risk buffer. The policy of generating positive post-dividend free cash flow also continued. - FY2021SoftenedAnnual report
「To maintain investment discipline without excessive reliance on interest-bearing debt, the Company will secure positive post-dividend free cash flow over 3 years. It will also continue efforts to maintain the balance between risk assets and the core risk buffer so that risk assets remain within the core risk buffer.」
The numerical target of “at least ¥200 billion in post-dividend free cash flow over 3 years” changed under SHIFT 2023 to the wording “securing positive free cash flow.” Meanwhile, the policy of maintaining the balance between risk assets and the core risk buffer continued. - FY2021-Q2RestatedAnnual report
「As part of its financial policy, in addition to continuing to maintain the balance between the core risk buffer and risk assets, the Company plans to generate ¥200 billion in positive post-dividend free cash flow over 3 years and apply it to repayment of interest-bearing debt to improve financial soundness.」
The Company continued its financial policy of maintaining the balance between the core risk buffer and risk assets, generating ¥200 billion in post-dividend free cash flow over 3 years, and repaying interest-bearing debt. - FY2021-Q1SoftenedAnnual report
「As part of its financial policy, in addition to continuing to maintain the balance between the core risk buffer and risk assets, the Company plans to generate ¥200 billion in positive post-dividend free cash flow over 3 years and apply it to repayment of interest-bearing debt to improve financial soundness.」
The wording changed from the previously stated “at least ¥200 billion” to “¥200 billion in positive free cash flow.” The policy of maintaining the balance between the core risk buffer and risk assets continued. - FY2020SoftenedAnnual report
「Net interest-bearing debt after deducting cash and cash equivalents increased by ¥41.7 billion from the end of the previous fiscal year to ¥2,468.8 billion. As a result, the net debt-to-equity ratio (net interest-bearing debt / total equity attributable to owners of the parent) was 1.0x.」
Against the Medium-Term Management Plan 2020 targets of ROA of at least 4% and ROE of at least 10%, the return on equity attributable to owners of the parent for the fiscal year was 6.4%. Interest-bearing debt and net D/E also deteriorated. - FY2020-Q3RestatedAnnual report
「The Company aims to maintain ROA of at least 4% and ROE of at least 10% throughout the period of the Medium-Term Management Plan 2020. In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
The Company continued its plan to achieve ROA of at least 4% and ROE of at least 10%, maintain the balance between the core risk buffer and risk assets, and apply at least ¥200 billion in post-dividend free cash flow over 3 years to repayment of interest-bearing debt. - FY2020-Q2SoftenedAnnual report
「Based on the revised earnings outlook, the Company expects to achieve ROE of at least 10%, while ROA is expected to fall below 4%. In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
Against the Medium-Term Management Plan 2020 target of ROA of at least 4%, the revised outlook for fiscal 2019 indicated that ROA would fall below 4%. Meanwhile, the targets of ROE of at least 10%, maintaining the balance between risk assets and the core risk buffer, and generating at least ¥200 billion in post-dividend free cash flow remained in place. - FY2020-Q1RestatedAnnual report
「The Company aims to maintain ROA of at least 4% and ROE of at least 10% throughout the period of the Medium-Term Management Plan 2020. In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
The Company continued its plan under the Medium-Term Management Plan 2020 to achieve ROA of at least 4% and ROE of at least 10%, maintain the balance between the core risk buffer and risk assets, and apply at least ¥200 billion in post-dividend free cash flow over 3 years to repayment of interest-bearing debt. - FY2019-Q3RestatedAnnual report
「The Company aims to maintain ROA of at least 4% and ROE of at least 10% throughout the period of the Medium-Term Management Plan 2020. In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
The Company continued its financial policy of ROA of at least 4% and ROE of at least 10% under the Medium-Term Management Plan 2020, maintaining the balance between risk assets and the core risk buffer, and generating at least ¥200 billion in post-dividend free cash flow. - FY2019-Q2RestatedAnnual report
「The Company aims to maintain ROA of at least 4% and ROE of at least 10% throughout the period of the Medium-Term Management Plan 2020. In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
The Company continued its targets of ROA of at least 4% and ROE of at least 10% during the Medium-Term Management Plan 2020 period, maintaining the balance between the core risk buffer and risk assets, and generating at least ¥200 billion in post-dividend free cash flow over 3 years. - FY2019-Q1RestatedAnnual report
「In addition to continuing to maintain the balance between the core risk buffer and risk assets as part of its financial policy, the Company plans to generate positive post-dividend free cash flow of at least ¥200 billion over 3 years and apply it to repayment of interest-bearing debt.」
The Company continued its policy of maintaining the balance between the core risk buffer and risk assets, as well as its plan under the Medium-Term Management Plan 2020 to generate at least ¥200 billion in post-dividend free cash flow over 3 years. - FY2018AchievedAnnual report
「Under its financial policy, the Company achieved restoration of the balance between the core risk buffer (Note 4) and risk assets as of the end of fiscal 2017. Post-dividend free cash flow for the 3-year period covered by BBBO2017 totaled ¥627.9 billion.」
The Company achieved BBBO2017's target of restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017. Under the Medium-Term Management Plan 2020, the Company shifted its policy to maintaining the balance. - FY2018-Q3RestatedAnnual report
「The core risk buffer is calculated as capital, retained earnings, and foreign currency translation adjustments less treasury shares. The Company's basic management policy is to keep risk assets, representing the maximum potential loss, within the core risk buffer.」
The Company continued to state its financial policy, including risk-return of approximately 12.0% and the target of restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017. - FY2018-Q2RaisedAnnual report
「Risk-return (Note 2) Fiscal 2017 At least 10.0% Approximately 12.0%」
The risk-return target for BBBO2017 was raised from at least 9.0% to approximately 12.0%. The target of restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017 remained in place. - FY2018-Q1RestatedAnnual report
「The Company's basic management policy is to keep risk assets, representing the maximum potential loss, within the core risk buffer.」
The quantitative plan for BBBO2017 continued to state the target of restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017, together with the basic policy. - FY2017RestatedAnnual report
「BBBO2017 targeted generating ¥500 billion in post-dividend free cash flow and steadily strengthening financial soundness by reducing interest-bearing debt. Through these efforts, the Company also aims to restore the balance between the core risk buffer and risk assets by the end of fiscal 2017, the final year of BBBO2017.」
The target of restoring the balance between the core risk buffer and risk assets remained in place through the end of fiscal 2017. The ratio of equity attributable to owners of the parent at fiscal year-end was 30.5%, and the net debt-to-equity ratio was 1.1x. - FY2017-Q3RestatedAnnual report
「The Company's basic management policy is to keep risk assets, representing the maximum potential loss, within the core risk buffer.」
The goal of restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017, together with the basic policy, continued to be stated. - FY2017-Q2RestatedAnnual report
「Risk assets represent the maximum potential loss. They are calculated by multiplying assets, including accounts receivable, inventories, property, plant and equipment, and shares and investments, by risk weights independently established by the Company according to their potential loss risk, and adding the potential loss amounts associated with derivatives, contracts, and contingent liabilities. The core risk buffer is calculated as capital, retained earnings, and foreign currency translation adjustments less treasury shares. The Company's basic management policy is to keep risk assets, representing the maximum potential loss, within the core risk buffer.」
The Company continued to state its basic policy of keeping risk assets within the core risk buffer and its goal of restoring the balance by the end of fiscal 2017. - FY2017-Q1RestatedAnnual report
「The Company's basic management policy is to keep risk assets within the core risk buffer.」
BBBO2017's quantitative plan continued to target restoration of the balance between the core risk buffer and risk assets by the end of fiscal 2017. - FY2016First statedAnnual report
「The Company's basic management policy is to keep risk assets, representing the maximum potential loss, within the core risk buffer.」
The quantitative targets included restoring the balance between the core risk buffer and risk assets by the end of fiscal 2017, the final year of BBBO2017, and achieving risk-return of at least 9.0%.