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Tosei (8923) · TargetAchievedLatest Financial results (2026-10-05): "Worsened"

35% equity ratio guideline

First written in FY2018. 4 of 21 entries say "Achieved", first in FY2025-H1. Latest entry: 2026-10-05.

21entries
8years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2018OtherFY2021-Q2 – FY2023-Q1OtherFY2024-Q12019: 120192020: 320202021: 320212022: 220222023: 420232024: 220242025: 120252026: 52026
Same theme, other companies
Optimal capital structure with a 40–50% equity ratio as a benchmarkA theme 46 companies write about · 2 as a headwind · 43 as a tailwind

The whole theme swung hardest in 2019: 3 of 22 companies on the "Worse" side.

5 other companies' 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 46 companies compared. The sentences above are computed from all 46.
Full recordFilings, disclosures and news, newest first
  1. 2026-10-05WorsenedFinancial results

    「The ratio of equity attributable to owners of the parent was 34.9% in the third quarter of the fiscal year ending November 2026.」

    The equity ratio rose from 33.4% at the end of the previous fiscal year but remained below the target level of approximately 35%.
  2. FY2026-H1AchievedAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.0 35.9 33.4」

    The equity attributable to owners of the parent ratio was 35.9% at the end of the interim consolidated accounting period, above the target level of approximately 35% for the equity ratio under Further Evolution 2026.
  3. FY2025WorsenedAnnual report

    「Equity ratio 32.7% 33.4% Approximately 35%」

    The equity attributable to owners of the parent ratio rose from 32.7% at the end of the previous fiscal year to 33.4%, but remained below the target level of approximately 35% under Further Evolution 2026.
  4. FY2025-H1AchievedAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.0 35.0 32.7」

    The equity attributable to owners of the parent ratio was 35.0% at the end of the interim consolidated accounting period, recovering from 32.7% at the end of the previous fiscal year to reach the 35% guideline level.
  5. FY2024-Q1Equity ratio recovered but remained below 35%Annual report

    「Equity attributable to owners of the parent ratio (%) 35.3 34.8 33.4」

    The equity attributable to owners of the parent ratio rose from 33.4% at the end of the previous fiscal year to 34.8%, but remained below the guideline of approximately 35%.
  6. FY2023WorsenedAnnual report

    「Equity ratio Approximately 35%」

    The new medium-term plan also sets an equity ratio target of approximately 35%, but the FY2023 result was 33.4%, down from 34.3% in the previous fiscal year and below the target level.
  7. FY2023-Q3Remained above the equity ratio guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 34.6 35.2 34.3」

    The equity attributable to owners of the parent ratio was 35.2%, up from 34.3% at the end of the previous fiscal year, maintaining a level above the 35% guideline.
  8. FY2023-Q2AdvancedAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.1 35.4 34.3」

    The equity attributable to owners of the parent ratio was 35.4%, up from 34.3% at the end of the previous fiscal year, maintaining a level above the 35% guideline.
  9. FY2023-Q1Recovered to above the equity ratio guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.7 35.3 34.3」

    The equity attributable to owners of the parent ratio was 35.3%, up from 34.3% at the end of the previous fiscal year and slightly above the 35% guideline.
  10. FY2022Equity ratio fell below the benchmarkAnnual report

    「Equity ratio 35.7% 33.3% Approximately 35% Approximately 35%」

    The equity attributable to owners of the parent ratio was 34.3% for the fiscal year ended November 2022, slightly below the target level of approximately 35%.
  11. FY2022-Q2Equity ratio declined but remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 37.7 35.1 33.8」

    The equity attributable to owners of the parent ratio was 35.1%, above the 33.8% at the end of the previous fiscal year but down from 37.7% in the previous quarter. It remained above the 35% equity ratio guideline.
  12. FY2022-Q1Equity ratio declined but remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.7 38.9 33.8」

    The equity attributable to owners of the parent ratio was 35.7%, above the 33.8% at the end of the previous fiscal year and continuing to exceed the 35% equity ratio guideline.
  13. FY2021-Q3Equity ratio declined but remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 36.1 37.4 36.5」

    The equity attributable to owners of the parent ratio was 37.4%, above the 36.5% at the end of the previous fiscal year. It was above the 35% equity ratio guideline.
  14. FY2021-Q2Equity ratio declined but remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 35.2 37.7 36.5」

    The equity attributable to owners of the parent ratio was 37.7%, down from 38.9% at the end of the previous quarter but above the 35% equity ratio guideline.
  15. FY2021-Q1AdvancedAnnual report

    「Equity attributable to owners of the parent ratio (%) 37.2 38.9 36.5」

    The equity attributable to owners of the parent ratio was 38.9%, above both 36.5% at the end of the previous fiscal year and the 35% equity ratio guideline.
  16. FY2020-Q3Equity ratio increased and remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 36.5 36.1 36.0」

    The equity attributable to owners of the parent ratio was 36.1% at the end of the third quarter, up from 35.2% at the end of the second quarter and above the 35% equity ratio guideline.
  17. FY2020-Q2Equity ratio declined but remained above the guidelineAnnual report

    「Equity attributable to owners of the parent ratio (%) 37.6 35.2 36.0」

    The equity attributable to owners of the parent ratio was 35.2% at the end of the second quarter, down from 36.0% at the end of the previous fiscal year but above the 35% equity ratio guideline.
  18. FY2020-Q1AdvancedAnnual report

    「Equity attributable to owners of the parent ratio (%) 36.7 37.2 36.0」

    The equity attributable to owners of the parent ratio was 37.2% at the end of the first quarter, up from 36.0% at the end of the previous fiscal year and above the 35% equity ratio guideline.
  19. FY2018First statedAnnual report

    「⑥ Equity ratio guideline: 35%」

    The guideline of a 35% equity ratio is listed for the first time as an independent target in the quantitative targets of the medium-term management plan, “Seamless Growth 2020.”
Moved together

"Funding risk from reliance on interest-bearing debt, rising interest rates and financial covenants" moved the same way as this thread, in the same document, in 8 of its 21 moves.

877777★123456
  1. ★This thread
  2. 1Funding risk from reliance on interest-bearing debt, rising interest rates and financial covenants8×
  3. 2Active acquisition of income-producing real estate and development sites as future sources of revenue7×
  4. 3Real estate revitalization through the sale of value-added properties7×
  5. 4Development and sales of commercial facilities and detached houses7×
  6. 5Expansion of Asset Management AUM Through Large-Scale Mandates7×
  7. 6J-REIT market expansion and acquisition capacity7×

★ 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 Tosei yet. It last moved in the Financial results of 2026-10-05: "Worsened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
35% equity ratio guideline | TOSEI CORPORATION (8923) | Komori