Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
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Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateROE+1.0pt
基準 2,026Target2,027％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).
What happened to the previous planROE 12.0％ / Financial assets under custody ¥12 trillion / Ordinary income 1 (strengthening financial capabilities) ¥30 billion / Stable earnings/fixed-cost coverage ratio 20.0％ / Labor productivity per employee ¥23.0 million / Ordinary income 2 (重点施策 toward a new dimension) ¥6.0–10.0 billion → ROE 8.8% (actual for the fiscal year ending March 2026) / Financial assets under custody ¥13.4 trillion (actual for the fiscal year ending March 2026) / Ordinary income 1 (strengthening financial capabilities) ¥23.07 billion (actual for the fiscal year ending March 2026) / Stable earnings/fixed-cost coverage ratio 28.0% (actual for the fiscal year ending March 2026) / Labor productivity per employee ¥24.1 million (actual for the fiscal year ending March 2026) / Ordinary income 2 (重点施策 toward a new dimension) △¥2.58 billion (actual for the fiscal year ending March 2026)
Investment amount by sectorField Capital alliance with Powerful Partners / Amount Not disclosed, Field Acquisition of banking functions / Amount Not disclosed, Field Active investment in AI and systems that strengthen financial capabilities / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyDuring the period of the current medium-term management plan (through the fiscal year ending March 2027), the dividend standard will be the higher of a consolidated payout ratio of at least 50% or an annual dividend of at least ¥24 per share. A DOE of at least 5.0 is cited as a keyword for the next management plan.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceA PBR of at least 1.0 is cited as a keyword for the next management plan. The assessment of current PBR and share price levels is Not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Thorough execution of the basics
02Waku-Waku (creating excitement)
03Strengthening financial capabilities
04Stable earnings structure
05Productivity Improvement
06重点施策 toward a new dimension
07Powerful Partners
08New Bonanza
09ORQUE D'OR 2.0 strategy
10Clair Ciel strategy
11Selective concentration in the digital business
12Human resources revolution
13JV２．０
14Global Opportunity
15Trilateral Combination
16AI and DX
17Efficiency reform
18Golden Trapezoid
19Cupid of Prosperity
Segment targetSegment 東海東京証券 / Indicator Ordinary income / Target ¥25.0 billion (fiscal year ending March 2027), Segment 重点施策 toward a new dimension / Indicator Ordinary income / Target ¥6.0–10.0 billion (fiscal year ending March 2027)
Non-financial targetsIndicator Net CO2 emissions / Target 1,474 t-CO2 (half the fiscal 2021 actual level) / Timing Fiscal year ending March 2027, Indicator Social contribution expenses (as a percentage of ordinary income in the previous fiscal year) / Target 1.0％ / Timing Fiscal year ending March 2027, Indicator Customer orientation (Tokai Tokyo Securities' NPS®) / Target Improvement of 20 points from the fiscal 2021 actual level / Timing Fiscal year ending March 2027, Indicator Employee Engagement / Target 63％ / Timing Fiscal year ending March 2027, Indicator Investment in education (as a percentage of ordinary income in the previous fiscal year) / Target 3.0％ / Timing Fiscal year ending March 2027
Reason for revision or withdrawal
Although monetization from the 重点施策 toward a new dimension is lagging behind plan, consideration of strategies to improve ordinary income and ROE is being accelerated. Regarding the capital strategy, "consideration will continue regarding the shift from capital strengthening to capital utilization."
| Item | Details |
|---|---|
| Plan name | Keywords for formulating the medium-term management plan and next management plan |
| Plan period | Fiscal year ending March 2023 to fiscal year ending March 2027 (current medium-term management plan) / Next management plan: undecided |
| Progress against the plan | Annual update |
| ROE target | 8.8% (actual for the fiscal year ending March 2026) → 12.0% (plan for the fiscal year ending March 2027)（+36.4％） |
| Payout ratio / DOE policy | During the period of the current medium-term management plan (through the fiscal year ending March 2027), the dividend standard will be the higher of a consolidated payout ratio of at least 50% or an annual dividend of at least ¥24 per share. A DOE of at least 5.0 is cited as a keyword for the next management plan. |
| Self-assessment of PBR and share price | A PBR of at least 1.0 is cited as a keyword for the next management plan. The assessment of current PBR and share price levels is Not disclosed. |
| Investment amount by sector | Field Capital alliance with Powerful Partners / Amount Not disclosed, Field Acquisition of banking functions / Amount Not disclosed, Field Active investment in AI and systems that strengthen financial capabilities / Amount Not disclosed |
| Segment target | Segment 東海東京証券 / Indicator Ordinary income / Target ¥25.0 billion (fiscal year ending March 2027), Segment 重点施策 toward a new dimension / Indicator Ordinary income / Target ¥6.0–10.0 billion (fiscal year ending March 2027) |
| Non-financial targets | Indicator Net CO2 emissions / Target 1,474 t-CO2 (half the fiscal 2021 actual level) / Timing Fiscal year ending March 2027, Indicator Social contribution expenses (as a percentage of ordinary income in the previous fiscal year) / Target 1.0％ / Timing Fiscal year ending March 2027, Indicator Customer orientation (Tokai Tokyo Securities' NPS®) / Target Improvement of 20 points from the fiscal 2021 actual level / Timing Fiscal year ending March 2027, Indicator Employee Engagement / Target 63％ / Timing Fiscal year ending March 2027, Indicator Investment in education (as a percentage of ordinary income in the previous fiscal year) / Target 3.0％ / Timing Fiscal year ending March 2027 |
| Key initiatives | Thorough execution of the basics, Waku-Waku (creating excitement), Strengthening financial capabilities, Stable earnings structure, Productivity Improvement, 重点施策 toward a new dimension, Powerful Partners, New Bonanza, ORQUE D'OR 2.0 strategy, Clair Ciel strategy, Selective concentration in the digital business, Human resources revolution, JV２．０, Global Opportunity, Trilateral Combination, AI and DX, Efficiency reform, Golden Trapezoid, Cupid of Prosperity |
| Results under the previous plan | ROE 12.0％ / Financial assets under custody ¥12 trillion / Ordinary income 1 (strengthening financial capabilities) ¥30 billion / Stable earnings/fixed-cost coverage ratio 20.0％ / Labor productivity per employee ¥23.0 million / Ordinary income 2 (重点施策 toward a new dimension) ¥6.0–10.0 billion → ROE 8.8% (actual for the fiscal year ending March 2026) / Financial assets under custody ¥13.4 trillion (actual for the fiscal year ending March 2026) / Ordinary income 1 (strengthening financial capabilities) ¥23.07 billion (actual for the fiscal year ending March 2026) / Stable earnings/fixed-cost coverage ratio 28.0% (actual for the fiscal year ending March 2026) / Labor productivity per employee ¥24.1 million (actual for the fiscal year ending March 2026) / Ordinary income 2 (重点施策 toward a new dimension) △¥2.58 billion (actual for the fiscal year ending March 2026) |
| Reason for revision or withdrawal | Although monetization from the 重点施策 toward a new dimension is lagging behind plan, consideration of strategies to improve ordinary income and ROE is being accelerated. Regarding the capital strategy, "consideration will continue regarding the shift from capital strengthening to capital utilization." |
| Publication date | 27 May 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planPlan assumptionsSize of the Target MarketRisks identifiedDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Under the current medium-term management plan, assets under custody and stable earnings have been achieved ahead of schedule, while monetization from the "重点施策 toward a new dimension" is lagging behind plan. The company therefore states that it will accelerate consideration of strategies to improve ROE.
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