Numerical Targets for Profitability, Capital Efficiency and Other Metrics in the Medium-Term Management Plan
First written in FY2017. 2 of 5 entries say "Softened", first in FY2020. Latest entry: FY2022.
Kanagawa Chuo Kotsu moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 8 of 36 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「During the consolidated fiscal year under review, repeated resurgences of COVID-19 caused passenger numbers in the general passenger transportation business to fall more than expected, resulting in revenue and operating profit below plan. As a result, the operating margin was 1.0% and the interest-bearing debt/EBITDA ratio was 7.6x for the consolidated fiscal year.」
The targets of an operating margin of 6.0% or higher and an interest-bearing debt/EBITDA ratio of 5.0x or lower for FY2023 remain unchanged, but actual results for the year were 1.0% and 7.6x, respectively, below plan. - FY2021SoftenedAnnual report
「In light of these circumstances, as revenue is expected not to return to pre-pandemic levels, we withdrew the management targets for FY2021 and will work to improve profitability and our financial position at an early stage.」
The previous FY2021 targets, including revenue of ¥120.0 billion and EBITDA of ¥16.0 billion, were withdrawn. The new plan focuses on restoring the operating margin to 6.0% or higher and the interest-bearing debt/EBITDA ratio to 5.0x or lower by around FY2023, at pre-pandemic levels. - FY2020SoftenedAnnual report
「During the consolidated fiscal year under review, performance was generally in line with the plan through the third quarter. However, in the fourth quarter, restrictions on going out and requests for facilities to suspend operations related to the spread of COVID-19 caused revenue to decline across many businesses, particularly general passenger transportation and leisure and sports, resulting in all metrics falling below plan. As a result, revenue for the consolidated fiscal year was ¥112.7 billion, EBITDA was ¥12.0 billion and the operating margin was 4.7%.」
FY2019 results were revenue of ¥112.7 billion, EBITDA of ¥12.0 billion and an operating margin of 4.7%, below the initial plan of ¥115.2 billion, ¥13.62 billion and 5.3%, respectively. The impact of COVID-19 weakened progress toward the FY2021 targets. - FY2019ReframedAnnual report
「The 神奈中 Group Medium-Term Management Plan (FY2018–FY2020), formulated last year, set the following numerical targets as management indicators to achieve further growth toward the company's centennial in 2021.」
The new plan shifted from the previous plan's metrics, including ROE and the interest-bearing debt/EBITDA ratio, to targets for FY2021 of revenue of ¥120.0 billion, EBITDA of ¥16.0 billion and an operating margin of 6.0% or higher. - FY2017First statedAnnual report
「The 神奈中 Group Medium-Term Management Plan (FY2015–FY2017) set numerical targets for profitability, capital efficiency and other metrics, which the company also identified as important management indicators and sought to achieve. Operating margin: 6.0% or higher; ROE: 8.0% or higher; interest-bearing debt/EBITDA: 5.0x or lower」
The medium-term plan listed specific targets for operating margin, ROE and the interest-bearing debt/EBITDA ratio as a standalone theme for the first time.