Capital Management Centered on Operating Cash Flow
First written in FY2016. 5 of 27 entries say "Advanced", first in FY2018. Latest entry: FY2026.
The whole theme swung hardest in 2025: 4 of 17 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「We will ensure the Group's financial stability by keeping the D/E ratio at approximately 0.5 times and maintaining the equity ratio at approximately 50%.」
The D/E ratio improved from 0.26 times to 0.23 times and the equity ratio increased from 58.0% to 62.3%, further below and above, respectively, the management guidelines for financial stability. Operating cash flow decreased from ¥12,857 million to ¥8,217 million. - FY2026-H1Increase in operating cash flow and repayment of short-term borrowingsAnnual report
「Cash provided by operating activities amounted to ¥5,213 million, compared with ¥3,083 million in the same period of the previous year.」
Operating cash flow increased from ¥3,083 million in the same period of the previous year to ¥5,213 million. In financing activities, ¥1,250 million of short-term borrowings was repaid and ¥1,624 million was paid in dividends, among other items. - FY2025AdvancedAnnual report
「The Group's cash-generating ability has remained solid, and its financial base is stable. Going forward, we will ensure the Group's financial stability by keeping the D/E ratio at approximately 0.5 times and maintaining the equity ratio at approximately 50%.」
Cash flow from operating activities increased from ¥11,233 million to ¥12,857 million, while the D/E ratio improved from 0.38 times to 0.26 times and the equity ratio improved from 52.6% to 58.0%. - FY2025-H1Increase in operating cash flow and reduction in the net increase in short-term borrowingsAnnual report
「Cash provided by operating activities amounted to ¥3,083 million, compared with ¥1,604 million in the same period of the previous year. The main source of cash was a ¥2.1 billion net increase in short-term borrowings.」
Operating cash flow increased from ¥1,604 million in the same period of the previous year to ¥3,083 million. Meanwhile, short-term borrowings increased net by ¥2.1 billion, a decrease from the ¥6.6 billion net increase in the same period of the previous year. - FY2024-Q3Decline in operating cash flow and net increase in short-term borrowings continueAnnual report
「Cash provided by operating activities amounted to ¥2,468 million, compared with ¥3,262 million in the same period of the previous year.」
Operating cash flow remained positive, but decreased from ¥3,262 million in the same period of the previous year to ¥2,468 million. In financing activities, short-term borrowings increased net by ¥6.6 billion. - FY2024-Q2Decrease in operating cash flow and net increase in short-term borrowingsAnnual report
「Cash provided by operating activities amounted to ¥1,604 million, compared with ¥2,842 million in the same period of the previous year.」
Operating cash flow remained positive, but decreased from ¥2,842 million in the same period of the previous year to ¥1,604 million. Meanwhile, short-term borrowings increased net by ¥6.6 billion in financing activities. - FY2024-Q1Increase in operating cash flow and net increase in short-term borrowingsAnnual report
「Cash provided by operating activities amounted to ¥1,772 million, compared with ¥71 million in the same period of the previous year.」
Operating cash flow increased from ¥71 million in the same period of the previous year to ¥1,772 million. Meanwhile, in financing activities, short-term borrowings increased net by ¥2.5 billion, resulting in cash provided by financing activities of ¥1,158 million. - FY2023AdvancedAnnual report
「The Group's cash-generating ability has remained solid, and its financial base is stable. Going forward, we will ensure the Group's financial stability by keeping the D/E ratio at approximately 0.5 times and maintaining the equity ratio at approximately 50%.」
Cash flow from operating activities amounted to ¥8,778 million, increasing from ¥3,954 million in the previous year. The D/E ratio improved from 0.35 times to 0.22 times, while the equity ratio improved from 54.5% to 58.9%. - FY2023-Q3Increase in Operating Cash FlowAnnual report
「Cash provided by operating activities amounted to ¥3,262 million, compared with ¥814 million in the same period of the previous year.」
Operating cash flow increased from ¥814 million in the same period of the previous year to ¥3,262 million, remaining positive. - FY2023-Q2Positive operating cash flow continues, but declines year on yearAnnual report
「Cash provided by operating activities amounted to ¥2,842 million, compared with ¥3,073 million in the same period of the previous year.」
Operating cash flow remained positive at ¥2,842 million, but decreased from ¥3,073 million in the same period of the previous year. The ¥1,146 million increase in inventories was the main factor reducing cash. - FY2023-Q1Significant decrease in operating cash flowAnnual report
「Cash provided by operating activities amounted to ¥71 million, compared with ¥1,411 million in the same quarter of the previous year.」
Operating cash flow remained positive, but decreased substantially from ¥1,411 million in the same period of the previous year to ¥71 million. - FY2022-Q3Positive operating cash flow continues, but declines substantiallyAnnual report
「Cash provided by operating activities amounted to ¥814 million, compared with ¥5,414 million in the same period of the previous year.」
Operating cash flow remained positive, but decreased substantially from ¥5,414 million in the same period of the previous year to ¥814 million. Short-term borrowings increased net by ¥3.1 billion. - FY2022-Q2Positive operating cash flow continues, but declines year on yearAnnual report
「Cash provided by operating activities amounted to ¥3,073 million, compared with ¥4,894 million in the same period of the previous year.」
Operating cash flow remained positive at ¥3,073 million, but decreased from ¥4,894 million in the same period of the previous year. - FY2022-Q1Increase in Operating Cash FlowAnnual report
「Cash provided by operating activities amounted to ¥1,411 million, compared with ¥949 million in the same period of the previous year.」
Operating cash flow increased from ¥949 million in the same period of the previous year to ¥1,411 million, remaining positive. - FY2021Increase in operating cash flow and maintenance of the financial baseAnnual report
「The Group's cash-generating ability has remained solid, and its financial base is stable. Going forward, we will ensure the Group's financial stability by keeping the D/E ratio at approximately 0.5 times and maintaining the equity ratio at approximately 50%.」
Cash flow from operating activities increased to ¥8,594 million, while the D/E ratio was 0.38 times and the equity ratio was 55.5%. - FY2021-Q3Increase in operating cash flow and continued repayment of lease liabilitiesAnnual report
「Cash provided by operating activities amounted to ¥5,414 million, compared with ¥2,731 million in the same quarter of the previous year.」
Operating cash flow increased from ¥2,731 million in the same period of the previous year to ¥5,414 million. In financing activities, ¥3,647 million was used, including ¥2,478 million for repayment of lease liabilities and ¥588 million for dividend payments. - FY2021-Q2Increase in operating cash flow and progress in debt repaymentAnnual report
「Cash provided by operating activities amounted to ¥4,894 million, compared with ¥3,073 million in the same quarter of the previous year.」
Operating cash flow increased from ¥3,073 million in the same period of the previous year to ¥4,894 million. In financing activities, debt repayment progressed, mainly due to a ¥835 million decrease in short-term borrowings. - FY2021-Q1Positive operating cash flow continues, but declines year on yearAnnual report
「Cash provided by operating activities amounted to ¥949 million, compared with ¥1,092 million in the same period of the previous year.」
Operating cash flow remained positive at ¥949 million, but decreased from ¥1,092 million in the same period of the previous year. - FY2020AdvancedAnnual report
「Going forward, we will ensure the Group's financial stability by keeping the D/E ratio at approximately 0.5 times and maintaining the equity ratio at approximately 50%.」
In addition to the policy of using operating cash flow as the primary source of funds, target guidelines for managing financial stability were specified as a D/E ratio of approximately 0.5 times and an equity ratio of approximately 50%. - FY2020-Q3Positive operating cash flow continuesAnnual report
「Cash provided by operating activities amounted to ¥2,731 million, compared with cash used of ¥1,410 million in the same period of the previous year.」
Operating cash flow changed from an outflow of ¥1,410 million in the same period of the previous year to an inflow of ¥2,731 million, remaining positive. Meanwhile, cash used for repayment of lease liabilities amounted to ¥2,406 million. - FY2020-Q2Positive operating cash flow continues, with lease liability repaymentsAnnual report
「Cash provided by operating activities amounted to ¥3,073 million, compared with cash used of ¥546 million in the same period of the previous year.」
Operating cash flow changed from an outflow in the same period of the previous year to an inflow of ¥3,073 million. In financing activities, an outflow of ¥1,601 million arose from repayment of lease liabilities. - FY2020-Q1Operating cash flow turns positive, with lease liability repayment burdenAnnual report
「Cash provided by operating activities amounted to ¥1,092 million, compared with cash used of ¥1,010 million in the same period of the previous year.」
Operating cash flow changed from an outflow of ¥1,010 million in the same period of the previous year to an inflow of ¥1,092 million. In financing activities, cash used in financing activities decreased by ¥1,064 million, mainly due to an outflow of ¥802 million for repayment of lease liabilities. - FY2019-Q3Operating cash flow deficit and increase in short-term borrowings continueAnnual report
「Cash used in operating activities amounted to ¥1,410 million, compared with cash provided of ¥1,301 million in the same quarter of the previous year. The main source of cash was an increase of ¥2.6 billion in short-term borrowings,」
Operating cash flow changed from cash provided of ¥1,301 million in the same quarter of the previous year to cash used of ¥1,410 million, while short-term borrowings increased by ¥2.6 billion. - FY2019-Q2Operating cash flow deficit and increase in short-term borrowingsAnnual report
「Cash used in operating activities amounted to ¥546 million, compared with cash provided of ¥1,905 million in the same period of the previous year.」
Operating cash flow for the cumulative second quarter amounted to an outflow of ¥546 million, changing from an inflow in the same period of the previous year. In financing activities, short-term borrowings increased by ¥1 billion, and cash and cash equivalents decreased by ¥1,415 million from the end of the previous fiscal year. - FY2018AdvancedAnnual report
「In addition, to improve the Group's capital efficiency, we have introduced a cash management system (CMS) and established a mechanism to eliminate the concentration of funds within the Group and use them effectively.」
In addition to using operating cash flow as the primary source of funds, a mechanism was established to use funds within the Group effectively through the introduction of a CMS. - FY2017RestatedAnnual report
「The Group generally finances its business through operating cash flow generated by maintaining and strengthening the earnings capacity and cash-generating ability of its group companies, while making business investments, returning profits to shareholders through dividends and other means, and repaying interest-bearing debt.」
The policy of using operating cash flow as the primary source of funds for investment, dividends and debt repayment remains in place. - FY2016First statedAnnual report
「The Group generally finances its business through operating cash flow generated by maintaining and strengthening the earnings capacity and cash-generating ability of its group companies, while making business investments, returning profits to shareholders through dividends and other means, and repaying interest-bearing debt.」
Policy of using operating cash flow as the source of funds and allocating it to investment, shareholder returns and repayment of interest-bearing debt.