Management Metrics Focused on ROA and ROE
First written in FY2018. 3 of 9 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 2 of 9 companies on the "Worse" side.
1 other company's latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「In addition to capital-efficiency metrics such as ROE and ROIC, we will emphasize financial soundness metrics based on an equity ratio of 20% to 25% as a benchmark, and rigorously apply capital-cost considerations to investment decisions and business operations.」
The Fourth Medium-Term Management Plan specified a framework for capital-cost management and financial soundness, with targets of ROE of 8.0% or more, ROIC > WACC, and an equity ratio of 20% to 25%. - FY2026-H1RestatedAnnual report
「There have been no material changes to the management policies, management strategies or other matters established by our group during the interim consolidated accounting period.」
It has been reconfirmed that there are no significant changes to the management policy and management strategies, including ROA and ROE. - FY2025RaisedAnnual report
「Through the business activities of each operating company, the Group aims to achieve sustainable shareholder value creation by continuously attaining ROE of 8% or more and capital costs (WACC) < ROIC.」
The Group specified its targets and methods more clearly, shifting from the previous emphasis on ROA and ROE to management based on the cost of capital, with a focus on ROE of 8% or more, ROIC exceeding WACC, expansion of high-margin businesses and an optimal capital structure. - FY2025-H1RestatedAnnual report
「There have been no material changes to the management policies, management strategies or other matters established by our group during the interim consolidated accounting period.」
It has been confirmed that there are no significant changes to the previous management metrics and management strategies, including ROA and ROE. - FY2024ReframedAnnual report
「To continuously achieve returns on capital, including ROIC and ROE, above the cost of capital, including WACC and the cost of shareholders' equity, and to expand the equity spread and EVA spread」
The scope of the explanation was expanded from the previous emphasis on ROA and ROE to management based on the cost of capital, including WACC, ROIC, the equity spread, the EVA spread and improving PBR. - FY2022AdvancedAnnual report
「The target management metrics and figures are as follows: Third Medium-Term Management Plan, final year (fiscal year ending March 2025) targets: operating profit ¥14.5 billion, operating margin 2.2%, ROE of 12.0% or more, ROA of 2.5% or more, and a debt-to-equity ratio of 1.0 times or less.」
The management metrics emphasizing ROA and ROE were incorporated into the numerical targets of the Third Medium-Term Management Plan, including ROE of 12% or more and ROA of 2.5% or more for the fiscal year ending March 2025. - FY2021AdvancedAnnual report
「The target EBITDA for fiscal 2021 is ¥8,000 million, the target ROA is 0.8%, and the target consolidated net sales are ¥534,000 million.」
The policy of emphasizing ROA was incorporated into the performance metrics for executive compensation, and the ROA target of 0.8% for fiscal 2021 was specified for the first time. - FY2019RestatedAnnual report
「The Group places importance on ROA and ROE as management metrics and is working to achieve efficient management. For the current consolidated fiscal year, ROA was 1.3% and ROE was 5.1%.」
The policy of emphasizing ROA and ROE was continued, and actual results for the fiscal year were disclosed as ROA of 1.3% and ROE of 5.1%. - FY2018First statedAnnual report
「The Group places importance on ROA and ROE as management metrics and is working to achieve efficient management. For the current consolidated fiscal year, ROA was 1.3% and ROE was 5.3%.」
ROA and ROE were specified for the first time as management metrics of importance, with actual results for the fiscal year disclosed as ROA of 1.3% and ROE of 5.3%.