Medium-Term Management Plan 2020: Cash Allocation and Reduction of Interest-Bearing Debt
First written in FY2018. 9 of 16 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2024: 5 of 42 companies on the "Worse" side.
22 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「In addition, to improve financial soundness, the company plans to restore financial soundness to the level before the major investments were made, as of the end of fiscal 2024, over the 3 years through the end of fiscal 2028, by accelerating asset recycling and taking other measures.」
Regarding cash flow allocation under the Medium-Term Management Plan 2026, the company presented a time-bound plan to restore financial soundness to the level before the major investments by the end of fiscal 2028 through measures including accelerated asset recycling. - FY2025RestatedAnnual report
「There is no change to the basic policy of maintaining positive free cash flow after shareholder returns or to the cash flow allocation policy.」
Under the Medium-Term Management Plan 2026, the company continues to maintain positive free cash flow after shareholder returns and its cash flow allocation policy. - FY2024ReframedAnnual report
「We will generate ¥2.8 trillion in cash through asset replacement and improved cash flow generation, maintain financial soundness, and appropriately allocate the cash generated to growth investments and shareholder returns to improve ROE.」
Under the Medium-Term Management Plan 2026, the cash allocation policy was revised from the policies under the Medium-Term Management Plan 2020 and SHIFT 2023 to allocate cash to growth investments and shareholder returns, based on the generation of ¥2.8 trillion in cash. - FY2022RaisedAnnual report
「Under the revised plan, we plan investment and financing of ¥1.23 trillion. We will continue to invest and provide financing mainly in fields with highly attractive markets where we can fully leverage our strengths, thereby improving the portfolio's profitability and downside resilience.」
The investment and financing plan under the revised SHIFT 2023 plan was set at ¥1.23 trillion, an increase from the previous approximately ¥1.1 trillion. - FY2021ReframedAnnual report
「Including the continued rigorous pursuit of exits from low-profitability businesses and the recovery of funds through value realization, we plan cash inflows of ¥1.4 trillion over the 3-year period. Using this cash, we will invest and provide financing of approximately ¥1.1 trillion, mainly in fields with highly attractive markets where we can fully leverage our strengths, thereby improving the portfolio's profitability and downside resilience. We also plan to allocate ¥260.0 billion to dividends as shareholder returns.」
The cash allocation policy was revised from that under the Medium-Term Management Plan 2020 to a 3-year total of ¥1.4 trillion in cash inflows, approximately ¥1.1 trillion in investment and financing, and ¥260.0 billion in dividends under SHIFT 2023. - FY2021-Q3RestatedAnnual 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-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.」
We continue to plan under the Medium-Term Management Plan 2020 to generate ¥200.0 billion of post-dividend free cash flow and repay interest-bearing debt. The wording changed from the previous “at least ¥200.0 billion” to “a surplus of ¥200.0 billion.” - 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 plan's wording for post-dividend free cash flow changed from the previous “at least ¥200.0 billion” to “a surplus of ¥200.0 billion.” The policy of strengthening the financial position and repaying interest-bearing debt remains unchanged. - FY2020SoftenedAnnual report
「Although cash inflows are expected to decline substantially from the initial plan due to the impact of COVID-19 and other factors, we will create additional cash flow through selective investment and financing and the steady execution of asset reductions, thereby preventing further deterioration in free cash flow and working to strengthen our financial position by reducing interest-bearing debt.」
The 2-year cumulative results under the Medium-Term Management Plan 2020 were cash inflows of ¥529.0 billion, free cash flow of ¥290.8 billion, and post-dividend free cash flow of ¥98.4 billion, representing progress below the initial plan. The response involved selective investment and financing and asset reductions. - FY2020-Q3RestatedAnnual report
「As part of our financial policy, in addition to continuing to maintain the balance between the core risk buffer and risk assets (note), we plan to generate post-dividend free cash flow of at least ¥200.0 billion over the 3-year period and use it to repay interest-bearing debt.」
We continue to plan under the Medium-Term Management Plan 2020 to maintain the balance between risk assets and the core risk buffer, secure at least ¥200.0 billion of post-dividend free cash flow, and repay interest-bearing debt. - FY2020-Q2RestatedAnnual report
「As part of our financial policy, in addition to continuing to maintain the balance between the core risk buffer and risk assets (note), we plan to generate post-dividend free cash flow of at least ¥200.0 billion over the 3-year period and use it to repay interest-bearing debt.」
We continue to plan under the Medium-Term Management Plan 2020 to maintain the balance between risk assets and the core risk buffer, secure at least ¥200.0 billion of post-dividend free cash flow, and repay interest-bearing debt. - FY2020-Q1RestatedAnnual report
「As part of our financial policy, in addition to continuing to maintain the balance between the core risk buffer and risk assets (note), we plan to generate post-dividend free cash flow of at least ¥200.0 billion over the 3-year period and use it to repay interest-bearing debt.」
We continue to plan to secure at least ¥200.0 billion of post-dividend free cash flow under the Medium-Term Management Plan 2020 and use it to repay interest-bearing debt. - FY2019-Q3RestatedAnnual 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.」
We continue to plan to use at least ¥200.0 billion of post-dividend free cash flow under the Medium-Term Management Plan 2020 to repay interest-bearing debt. - FY2019-Q2RestatedAnnual 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.」
We continue to plan to use at least ¥200.0 billion of post-dividend free cash flow under the Medium-Term Management Plan 2020 to repay interest-bearing debt. - 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.」
We continue to plan to use at least ¥200.0 billion of post-dividend free cash flow under the Medium-Term Management Plan 2020 to repay interest-bearing debt. - FY2018First statedAnnual report
「Total cash allocation over the 3-year period is as follows. In addition to our increased cash-generating capacity, we expect cash inflows of ¥1.8 trillion through the active replacement of assets. We plan to use these cash inflows to allocate ¥1.3 trillion to investment and financing and ¥300.0 billion to shareholder returns through dividends. We also plan to secure post-dividend free cash flow of at least ¥200.0 billion over the 3-year period and use it to repay interest-bearing debt, thereby further strengthening our financial position.」
Under the new plan, we targeted cash inflows of ¥1.8 trillion, investment and financing of ¥1.3 trillion, shareholder returns through dividends of ¥300.0 billion, and post-dividend free cash flow of at least ¥200.0 billion.