Pursuit of returns on capital exceeding the cost of capital and higher PBR
First written in FY2024. 1 of 4 entries say "Restated". Latest entry: FY2026.
3 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Specifically, as the company seeks to establish its customer-focused “stock-based business model,” it is working to expand assets under custody, centered on investment trusts and wrap accounts, which are sources of stable revenue, in order to achieve returns on capital that consistently exceed the cost of capital over the medium to long term and realize sustainable growth.」
The company linked its approach of achieving returns on capital above the cost of capital and improving PBR to the targets of ¥5 trillion in assets under custody, a 100% cost coverage ratio, and ROE of 15% under the new medium-term management plan “Target 5 <ONE TEAM>.” ROE for the period was 15.0%. - 2026-04-28AdvancedEarnings
「【New Medium-Term Management Plan】 Assets under custody ¥5 trillion ¥2.6475 trillion (year-end) Cost coverage ratio 100% 84.3% ROE (return on equity) 15% 15.0%」
The new medium-term management plan presents numerical targets for assets under custody, the cost coverage ratio and ROE alongside actual results for the fiscal year. - FY2025RestatedAnnual report
「To achieve returns on capital that consistently exceed the cost of capital over the medium to long term and realize sustainable growth, the company is working to expand assets under custody, centered on investment trusts and wrap accounts, which are sources of stable revenue.」
The company continues to present its approach of improving PBR through returns on capital above the cost of capital, growth in assets under custody and stable revenue, and higher ROE. - FY2024First statedAnnual report
「To achieve returns on capital that consistently exceed the cost of capital over the medium to long term and realize sustainable growth, the company is working to expand assets under custody, centered on investment trusts and wrap accounts, which are sources of stable revenue. PBR at the time the target is achieved is estimated at approximately 1.2 times, compared with 1.0 times at the end of March 2024.」
The company recorded for the first time as a standalone topic its management approach of improving PBR through assets under custody, stable revenue, the cost coverage ratio, and ROE, while pursuing returns on capital above the cost of capital.