ROIC-Focused Investment and Exit Decisions and Business Portfolio Restructuring
First written in FY2017. 3 of 6 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2024.
Astena Holdings moved to the "Worse" side of this theme in 2021, the same year as the typical company in this theme.
The whole theme swung hardest in 2021: 3 of 11 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2024WorsenedAnnual report
「In the consolidated fiscal year under review, net sales were ¥57.9 billion, an increase of 11.6% from the previous consolidated fiscal year. Return on equity (ROE) was negative 9.4%, a decrease of 13.6 points from the previous consolidated fiscal year.」
The Group continued to use net sales of ¥130 billion and ROE of 13.0% or higher as targets for the fiscal year ending November 2030, while actual net sales were ¥57.9 billion and ROE was negative 9.4%. An impairment loss of ¥4,093 million was cited as the main cause of the decline in ROE. - FY2020ReframedAnnual report
「In the new medium- to long-term vision, “Astena 2030“Diversify for Tomorrow.””, formulated to begin in the fiscal year ending November 2021 and ending in the fiscal year ending November 2030, the Group has positioned net sales and return on equity (ROE) as objective indicators for assessing progress toward its management targets and will implement various measures to achieve them.」
The Group moved from its previous focus on net sales and ROIC to a framework under the new vision using net sales of ¥130 billion or more and ROE of 13.0% or more as its indicators. Actual ROIC under the previous vision was 4.7%, down 1.3 points from the previous fiscal year. - FY2019AdvancedAnnual report
「Under its medium- to long-term vision, whose final fiscal year is the fiscal year ending November 2025, the Group has set targets of ¥100 billion in net sales and a return on invested capital (ROIC) of 10.0%. ...ROIC was 6.0%, an increase of 0.1 point from the previous consolidated fiscal year. The Group will continue working to achieve the net sales and ROIC targets set out in its medium- to long-term vision by making business investments, capital investments and other investments with a constant focus on efficiency.」
ROIC was 6.0% against the 10.0% target, improving by 0.1 point from the previous fiscal year. The Group also reaffirmed its policy of pursuing business and capital investments with a focus on efficiency. - FY2018-Q3AdvancedAnnual report
「The Group announced Vision “i-111” as its medium- to long-term vision toward the fiscal year ending November 2025, when it will reach its 111th anniversary. To achieve this vision, it is considering and implementing various measures in its chemicals business to increase net sales, secure the No. 1 market share and achieve ROIC of 10.0%.」
The acquisition of a chemicals business was carried out as a specific measure to strengthen the business portfolio around the targets of ROIC of 10.0% and the No. 1 market share. - FY2018-Q1AdvancedAnnual report
「To achieve this vision, we are considering and implementing various measures in the chemicals business to increase sales, achieve the No. 1 market share and attain ROIC of 10.0%. As one such measure, we will acquire Hitachi Chemical's chemicals business for printed wiring boards.」
The acquisition of a chemicals business was formalised as an investment measure toward the net sales and ROIC targets of Vision “i-111”. - FY2017First statedAnnual report
「The Group has set targets of ¥100 billion in net sales and a return on invested capital (ROIC) of 10.0% or higher to achieve its medium- to long-term vision, Vision “i-111” (i-Triple One), whose final fiscal year is the fiscal year ending November 2025. In managing each business, the Group evaluates performance using net sales growth and ROIC as key management indicators and makes investment and exit decisions promptly. Through these efforts, it aims to rebuild a business portfolio with high capital efficiency.」
The Group's policy of using ROIC and net sales growth to make investment and exit decisions for each business and rebuild a business portfolio with high capital efficiency was specified for the first time.