Business-Level Capital Efficiency Management through ROIC-Based Management
First written in FY2025-Q1. 8 of 15 entries say "Advanced", first in FY2025-H1. Latest entry: 2026-10-19.
The whole theme swung hardest in 2025: 1 of 7 companies on the "Worse" side.
9 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「ROIC for fiscal 2025 was 5.7%, exceeding WACC of 4.8%. Going forward, we will use ROIC trees reflecting the characteristics of each business entity, including individual department stores, and build systems that enable each employee at the front line to act with ROIC in mind.」
Regarding ROIC management, reported that fiscal 2025 ROIC exceeded WACC, and advanced to the stage of operating ROIC trees at each business entity and store. - FY2025AdvancedAnnual report
「ROIC for fiscal 2024 was 6.4%, exceeding WACC of 4.8%. Going forward, we will use ROIC trees reflecting the characteristics of each business entity, including individual department stores, and build systems that enable each employee at the front line to act with ROIC in mind.」
Regarding ROIC management, reported that fiscal 2024 ROIC of 6.4% exceeded WACC of 4.8%, and advanced to the stage of operating ROIC trees at each business entity and store. - FY2025-H1AdvancedAnnual report
「As we further promote ROIC management to clarify business portfolio optimization, investment efficiency and profitability by business, we have changed our reporting segments as follows from the current interim consolidated accounting period.」
In line with the implementation of ROIC management, applied separate reporting segments for the domestic and overseas department-store businesses and the commercial development business from the current interim consolidated accounting period. - FY2025-Q1First statedAnnual report
「We have adopted ROIC, which measures the return on invested capital, across the group as a criterion for assessing the effectiveness of management resources. By setting and managing ROIC targets above the cost of capital for each business, we will improve management efficiency.」
First disclosed a policy of adopting ROIC as the group's common capital-efficiency metric and setting and managing levels above the cost of capital for each business.