Improving Capital Efficiency Based on ROIC and WACC
First written in FY2026. 1 of 2 entries say "Restated". Latest entry: 2026-07-02.
The whole theme swung hardest in 2021: 4 of 10 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- 2026-07-02RestatedGovernance
「We have stated that we will seek to achieve an ROE exceeding the cost of capital and an ROIC exceeding the WACC, while giving due consideration to an appropriate balance between debt and equity, improving balance sheet efficiency and expanding investment returns, with the aim of achieving an equity ratio below 50%.」
The company reconfirmed its policy of improving capital efficiency using ROE, ROIC and WACC and targeting an equity ratio below 50%. - FY2026First statedAnnual report
「The Company places emphasis on the cost of capital in making investment decisions and will rigorously manage investments based on the criterion that ROIC (return on invested capital) must exceed WACC (weighted average cost of capital). It will also optimize its balance sheet by reducing cross-shareholdings and monetizing low-yield real estate, while enhancing management control and governance through the development of post-investment review rules and the use of a unified Group system.」
The Company explicitly stated that ROIC exceeding WACC is an investment decision criterion and, for the first time, systematically presented the reduction of cross-shareholdings, monetization of low-yield real estate, and post-investment reviews as measures to improve capital efficiency.