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Mirarth Holdings (8897) · TargetDeclining equity ratio and continued failure to meet targetLatest Earnings presentation (2026-08-07): "Worsened"

Achieving an equity ratio of 30% or higher and LTV below 60%

First written in FY2019. 2 of 24 entries say "Raised", first in FY2021. Latest entry: 2026-08-07.

24entries
8years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseOtherFY2019 – FY2021-Q3OtherFY2022-Q1 – FY2024-Q3AdvancedFY2025-H1 – FY20252019: 220192020: 420202021: 320212022: 420222023: 320232024: 320242025: 220252026: 32026
Same theme, other companies
Financial soundness targets based on net cash and equity ratioA theme 33 companies write about · 1 as a headwind · 32 as a tailwind

Mirarth Holdings moved to the "Worse" side of this theme in 2026, 1 year after the typical company in this theme (2025).

1 other company's latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 33 companies compared. The sentences above are computed from all 33.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-07WorsenedEarnings presentation

    「Equity ratio (%) 19.5 22.3 20.5 20.0 20.1 Interest-bearing debt to total assets (%) 62.4 60.9 65.9 63.9 69.6」

    The equity ratio increased from 20.0% at the end of the fiscal year ended March 2026 to 20.1%, while the interest-bearing debt-to-total-assets ratio rose from 63.9% to 69.6%, exceeding the previously disclosed target level below 65%.
  2. FY2026Declining equity ratio and continued failure to meet targetAnnual report

    「The company manages its operations with a focus on the equity ratio, LTV, D/E ratio, and ROE. Its targets are an equity ratio of at least 23% at the end of the fiscal year ending March 2028, LTV below 65%, a D/E ratio below 3.0 times, and ROE of at least 9%.」

    At the end of the fiscal year, the equity ratio was 20.0%, LTV was 63.9%, and ROE was 5.7%. While the equity ratio and ROE were below the fiscal year ending March 2028 targets of at least 23% and at least 9%, respectively, LTV was within the target of below 65%.
  3. 2026-05-15WorsenedEarnings presentation

    「Equity ratio (%) 18.0 19.5 22.3 20.0 Interest-bearing debt to total assets (%) 66.6 62.4 60.9 63.9 D/E ratio (times) 3.5 2.9 2.5 3.0 Return on equity (%) 7.6 12.9 11.0 5.7」

    The equity ratio at the end of the fiscal year ended March 2026 was 20.0%, down from 22.3% at the previous year-end. LTV was 63.9%, the D/E ratio was 3.0 times and ROE was 5.7%, with the indicators having moved further from the target of an equity ratio of at least 23% at the end of the fiscal year ending March 2028.
  4. FY2026-H1Declining equity ratio and failure to meet targetAnnual report

    「Equity ratio (%) 22.5 19.8 22.3」

    The equity ratio at the end of the interim consolidated accounting period was 19.8%, down from 22.3% at the end of the previous fiscal year. As of the interim period-end, it was below the revised target of at least 23% at the end of the fiscal year ending March 2028, changed from at least 20% at the end of the fiscal year ending March 2025.
  5. FY2025RaisedAnnual report

    「The company manages its operations with a focus on the equity ratio, LTV, D/E ratio, and ROE. Its targets are an equity ratio of at least 23% at the end of the fiscal year ending March 2028, LTV below 65%, a D/E ratio below 3.0 times, and ROE of at least 9%.」

    The company raised its equity ratio target from at least 20% at the end of the fiscal year ending March 2025 to at least 23% at the end of the fiscal year ending March 2028. It retained its targets of LTV below 65%, a D/E ratio below 3.0 times, and ROE of at least 9%. At the end of the fiscal year, the equity ratio was 22.3%, LTV was 60.9%, and ROE was 11.0%.
  6. FY2025-H1AdvancedAnnual report

    「Equity ratio (%) 16.8 22.5 19.5」

    The equity ratio at the end of the interim consolidated accounting period was 22.5%, up from 19.5% at the end of the previous fiscal year. It exceeded the revised target level of an equity ratio of at least 20% as of the interim period-end, but was not the result as of the target deadline, the end of the fiscal year ending March 2025.
  7. FY2024SoftenedAnnual report

    「In the notice dated 15 May 2023, “Notice Regarding Revisions to the Medium-Term Management Plan and the Formulation of a Medium- to Long-Term Energy Business Strategy,” the company changed its targets to an equity ratio of at least 20% at the end of the fiscal year ending March 2025, LTV below 65%, a D/E ratio below 3.0 times, and ROE of at least 13%.」

    The company eased its targets from an equity ratio of at least 30%, LTV below 60%, and a D/E ratio below 2.5 times to an equity ratio of at least 20%, LTV below 65%, and a D/E ratio below 3.0 times. For the fiscal year ended March 2024, the equity ratio was 19.5% and ROE was 12.9%.
  8. FY2024-Q3Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%) 17.9 14.9 18.0」

    The equity ratio at the end of the third quarter was 14.9%, down from 16.8% in FY2024-Q2 and 18.0% at the end of the previous fiscal year. It continued to remain below the target of at least 30%.
  9. FY2024-Q2Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%) 24.0 16.8 18.0」

    The equity ratio at the end of the second quarter was 16.8%, down from 16.9% in FY2024-Q1 and 18.0% at the end of the previous fiscal year. It continued to remain below the target of at least 30%.
  10. FY2024-Q1Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%) 23.7 16.9 18.0」

    The equity ratio at the end of the first quarter was 16.9%, down from 18.0% at the end of the previous fiscal year. It continued to remain below the target of at least 30%.
  11. FY2023-Q3Sharp decline in equity ratio and failure to meet targetAnnual report

    「Equity ratio (%) 24.5 17.9 26.5」

    The equity ratio declined from 24.0% in the previous quarter to 17.9%, remaining below the target of at least 30%. The decline reflected increases in total assets and liabilities accompanying the conversion of an investment corporation into a consolidated subsidiary.
  12. FY2023-Q2Equity ratio recovered but remained below targetAnnual report

    「Equity ratio (%) 22.8 24.0 26.5」

    The equity ratio recovered from 23.7% in the previous quarter to 24.0%, but remained below 26.5% at the end of the previous fiscal year and continued to fall short of the target of an equity ratio of at least 30%.
  13. FY2023-Q1Equity ratio recovered but remained below targetAnnual report

    「Equity ratio (%) 22.8 23.7 26.5」

    The equity ratio at the end of the first quarter was 23.7%, below 26.5% at the end of the previous fiscal year. It recovered from 22.8% in the previous quarterly report but continued to fall short of the target of an equity ratio of at least 30%.
  14. FY2022Addition of ROE targetAnnual report

    「The company manages its operations with a focus on the equity ratio, LTV, D/E ratio, and ROE. Its targets are an equity ratio of at least 30%, LTV below 60%, a D/E ratio below 2.5 times, and ROE of at least 13%.」

    The company retained its targets of an equity ratio of at least 30%, LTV below 60%, and a D/E ratio below 2.5 times, and newly added ROE of at least 13% as a target. Actual results for the fiscal year were an equity ratio of 26.5%, LTV of 57.3%, and ROE of 11.0%.
  15. FY2022-Q3Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%)　25.1　24.7　26.5」

    The equity ratio at the end of the third quarter was 24.7%, down from 25.2% in FY2022-Q2 and 26.5% at the end of the previous fiscal year. It continued to fall short of the company’s target of an equity ratio of at least 30%.
  16. FY2022-Q1Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%)　24.5　22.8　26.5」

    The equity ratio at the end of the first quarter was 22.8%, down from 26.5% at the end of the previous fiscal year. It continued to fall short of the company’s target of an equity ratio of at least 30%.
  17. FY2021RaisedAnnual report

    「The company manages its operations with a focus on the equity ratio, LTV, and D/E ratio. Its targets are an equity ratio of at least 30%, LTV below 60%, and a D/E ratio below 2.5 times.」

    The company retained its targets of an equity ratio of at least 30% and LTV below 60%, while tightening the D/E ratio target from below 3 times to below 2.5 times. At the end of the fiscal year, the equity ratio was 26.5% and LTV was 58.0%.
  18. FY2021-Q3Modest recovery in equity ratio but still below targetAnnual report

    「Equity ratio (%) 25.1 25.2 25.9」

    The equity ratio at the end of the third quarter was 25.2%, a modest recovery from 24.3% in FY2021-Q2. However, it remained below the 25.9% recorded at the end of FY2020 and continued to fall short of the company’s target of at least 30%.
  19. FY2021-Q2Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%)　23.0　24.3　25.9」

    The equity ratio at the end of the second quarter was 24.3%, down from 24.5% in FY2021-Q1 and 25.9% at the end of FY2020. It remained below the company’s target of at least 30%.
  20. FY2021-Q1Declining equity ratio and continued failure to meet targetAnnual report

    「Equity ratio (%) 23.0 24.5 25.9」

    The equity ratio at the end of the first quarter was 24.5%, down from 25.9% at the end of FY2020. It remained below the company’s target of at least 30%.
  21. FY2020LTV within target; equity ratio below targetAnnual report

    「The target is an equity ratio of at least 30% and LTV below 60%. LTV at the end of the current consolidated fiscal year was 58.3%, within the target level.」

    LTV was 58.3%, within the target of below 60%, while the equity ratio was 25.9%, below the target of at least 30%. A ceiling of less than 3 times was also set for the D/E ratio.
  22. FY2020-Q3Equity ratio recovered but remained below targetAnnual report

    「Equity ratio (%) 22.5 25.1 25.6」

    The equity ratio recovered from 23.0% in FY2020-Q1 to 25.1%, but remained below the 25.6% recorded at the end of FY2019 and failed to meet the company’s target of at least 30%.
  23. FY2020-Q1Decline in the Equity RatioAnnual report

    「Equity ratio (%)　22.2　23.0　25.6」

    The equity ratio at the end of the first quarter was 23.0%, down from 25.6% at the end of the previous consolidated fiscal year. This was below the target of an equity ratio of at least 30% set out in FY2019.
  24. FY2019First statedAnnual report

    「The target is an equity ratio of at least 30% and LTV below 60%.」

    The Group has established the equity ratio and LTV as objective management indicators and aims to optimize its financial portfolio.
Moved together

"Linking Performance and Corporate Value through Stock-Compensation-Type Stock Options" moved the same way as this thread, in the same document, in 3 of its 24 moves.

333222★123456
  1. ★This thread
  2. 1Linking Performance and Corporate Value through Stock-Compensation-Type Stock Options3×
  3. 2Stable Supply of Newly Built For-Sale Condominiums in the Tokyo Metropolitan Area3×
  4. 3Reliance on Borrowings and Financing and Rising Interest Rate Risks3×
  5. 4Expansion of the Utility-Scale Solar Power Generation Business2×
  6. 5Diversification from Flow Revenue to Recurring Fee Revenue2×
  7. 6Real Estate Sales Business Turns Segment Profit Positive2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Mirarth Holdings yet. It last moved in the Earnings presentation of 2026-08-07: "Worsened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Achieving an equity ratio of 30% or higher and LTV below 60% | MIRARTH HOLDINGS,Inc. (8897) | Komori