Maintaining a D/E ratio of 0.6x or less
First written in FY2017. 3 of 9 entries say "Advanced", first in FY2019. Latest entry: FY2026.
The whole theme swung hardest in 2024: 3 of 14 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026Increase in D/E ratioAnnual report
「The D/E ratio increased by 0.02 percentage points from the end of the previous fiscal year to 0.30x.」
The D/E ratio increased from 0.28x at the end of FY2025 to 0.30x, but remained below the previous threshold of 0.6x or below. - FY2025Increase in D/E ratioAnnual report
「The D/E ratio increased by 0.02 percentage points from the end of the previous fiscal year to 0.28x.」
The D/E ratio increased from 0.26x at the end of FY2024 to 0.28x, but remained below the previous threshold of 0.6x or below. - FY2024Increase in D/E ratioAnnual report
「As a result, the equity ratio at the end of the fiscal year was 55.8%, 0.1 percentage points below the end of the previous fiscal year, while the D/E ratio increased by 0.07 percentage points to 0.26x.」
The D/E ratio increased from 0.19x at the end of FY2023 to 0.26x, but remained within the Medium-Term Management Plan 2020 target of 0.6x or below. - FY2023-Q2AdvancedAnnual report
「As a result, interest-bearing debt excluding lease obligations at the end of the second quarter consolidated accounting period stood at ¥46,891 million, up ¥1,204 million from the end of the previous fiscal year, while the D/E ratio remained at 0.18x, unchanged from the end of the previous fiscal year.」
Interest-bearing debt increased, but the D/E ratio was 0.18x, remaining well below the target level of 0.6x or below. - FY2022AdvancedAnnual report
「The equity ratio at the end of the fiscal year was 53.2%, 1.8 percentage points above the end of the previous fiscal year, while the D/E ratio declined by 0.01 percentage points to 0.19x.」
The D/E ratio was 0.19x, remaining well below the target of 0.6x or below. - FY2022-Q2Maintain a D/E ratio of 0.23xAnnual report
「Using free cash flow and commercial paper funding as the principal sources of funds, we covered financial expenditures including the repayment of long- and short-term borrowings. As a result, interest-bearing debt excluding lease obligations at the end of the second quarter consolidated accounting period stood at ¥54,530 million, up ¥7,461 million from the end of the previous fiscal year, while the D/E ratio remained at 0.23x, unchanged from the end of the previous fiscal year.」
Interest-bearing debt increased, but the D/E ratio remained at 0.23x, within the Medium-Term Management Plan target of 0.6x or below, and unchanged from the level at the end of the previous fiscal year. - FY2021RestatedAnnual report
「Our Group will continue to target maintaining an operating margin of 5.0% or higher and a D/E ratio of 0.6 or below, pursue sustainable growth so that customers will continue to choose us, and maintain a stable financial position.」
The company continues to target an operating margin of 5% or higher and a D/E ratio of 0.6 or below. - FY2019AdvancedAnnual report
「At the end of the fiscal year, interest-bearing debt excluding lease obligations stood at ¥39,991 million, down ¥20,339 million from the end of the previous fiscal year, while the D/E ratio improved by 0.14 to 0.20x.」
Against the Medium-Term Management Plan 2020 target of a D/E ratio of 0.6 or below, the ratio was 0.20x at the end of the fiscal year, an improvement of 0.14 from the end of the previous fiscal year. - FY2017First statedAnnual report
「The company has set targets of maintaining an operating margin of at least 5.0% and a D/E ratio of no more than 0.6. It will build a robust earnings structure, pursue sustainable growth, and maintain a stable financial position.」
Under Medium-Term Management Plan 2020, the company first specified a target of maintaining a D/E ratio of 0.6 or below from 2017 through 2020 as an indicator of a stable financial position.