Medium-Term Management Plan 2022: D/E Ratio and ROE Targets
First written in FY2022. 5 of 11 entries say "Advanced", first in FY2023-Q2. Latest entry: 2026-08-04.
The whole theme swung hardest in 2017: 3 of 14 companies on the "Worse" side.
8 other companies' latest entry also says "Other".
- 2026-08-04OtherEarnings
「The D/E ratio remains below the 1.0x financial discipline target, in preparation for the execution of strategic investments going forward.」
The D/E ratio rose from 0.60x at the end of the previous fiscal year to 0.65x, but remains below the 1.0x financial discipline target. - FY2026Continued decline in the D/E ratio; ROE target not achievedAnnual report
「Equity 117,178 142,071 24,892 21.2% Equity ratio 41.8% 45.7% +3.9 percentage points Interest-bearing debt 87,615 85,721 △1,893 △2.2% D/E ratio 0.75 0.60 △0.14 △19.3% ROE 8.6%」
The D/E ratio declined to 0.60x, remaining below the financial discipline benchmark of 1.0x. Meanwhile, ROE was 8.6%, below the target of more than 12%. - FY2026-H1Lower D/E ratio and increase in long-term borrowings for capital investmentAnnual report
「Equity 117,178 124,182 7,004 6.0% Equity ratio 41.8% 42.2% +0.4 percentage points 1.0% Interest-bearing debt 87,615 89,478 1,863 2.1% D/E ratio 0.75 0.72 △0.03 △3.6% • The increase in interest-bearing debt resulted from an increase in long-term borrowings to prepare for capital investment and other expenditures. • The D/E ratio is below the financial discipline target of 1.0x in preparation for the execution of strategic investments going forward.」
The D/E ratio declined from 0.75x to 0.72x and remained below 1.0x. Meanwhile, interest-bearing debt increased due to higher long-term borrowings to prepare for capital investment and other expenditures. - FY2025-H1Lower D/E ratio and increase in short-term borrowingsAnnual report
「Interest-bearing debt 83,265 85,413 2,148 2.6% D/E ratio 0.76 0.75 △0.01 △0.8% The D/E ratio is below the financial discipline target of 1.0x in preparation for the execution of strategic investments going forward.」
The D/E ratio declined from 0.76x at the end of the previous fiscal year to 0.75x, maintaining a level below the financial discipline target of 1.0x. Meanwhile, interest-bearing debt increased by ¥2.148 billion due to short-term working-capital borrowings associated with an increase in accounts receivable. - FY2024Improved D/E ratio and ROE nearing target, but target not achievedAnnual report
「The D/E ratio is below 1.0x in preparation for the execution of strategic investments going forward.」
The D/E ratio declined to 0.76x, below the level of financial management based on approximately 1.0x. Meanwhile, ROE was 11.9%, just below the Medium-Term Management Plan 2022 target of more than 12%. - FY2024-Q3AdvancedAnnual report
「Interest-bearing debt 92,621 87,739 △4,882 △5.3% D/E ratio 0.99 0.86 △0.13 △13.0% • The policy remains to manage the business so that the D/E ratio is approximately 1.0x.」
Under the policy of managing the D/E ratio at approximately 1.0x, as set out in Medium-Term Management Plan 2022, interest-bearing debt declined from the end of the previous fiscal year to the end of the third quarter, and the D/E ratio fell from 0.99x to 0.86x. - FY2024-Q2AdvancedAnnual report
「Interest-bearing debt 92,621 89,392 △3,228 △3.5% D/E ratio 0.99 0.88 △0.12 △11.7% • The policy remains to manage the business so that the D/E ratio is approximately 1.0x.」
Interest-bearing debt decreased by ¥3.228 billion from the end of the previous fiscal year, and the D/E ratio declined from 0.99x to 0.88x. The ratio has remained at a level close to the policy under Medium-Term Management Plan 2022 of managing it at approximately 1.0x. - FY2024-Q1AdvancedAnnual report
「Equity 93,285 97,239 3,953 4.2% Interest-bearing debt 92,621 91,093 △1,527 △1.6% D/E ratio 0.99 0.94 △0.06 △5.6% The policy remains to manage the business so that the D/E ratio is approximately 1.0x.」
The D/E ratio declined from 0.99x at the end of the previous fiscal year to 0.94x, below the target level of approximately 1.0x. Interest-bearing debt also decreased by ¥1.527 billion. - FY2023-Q3AdvancedAnnual report
「Interest-bearing debt 99,394 94,714 △4,680 △4.7% D/E ratio 1.25 1.06 △0.20 △15.6% • The policy remains to manage the business so that the D/E ratio is approximately 1.0x.」
The D/E ratio declined from 1.25x at the end of the previous fiscal year to 1.06x, approaching the target level of approximately 1.0x. Interest-bearing debt also decreased by ¥4.680 billion. - FY2023-Q2AdvancedAnnual report
「Interest-bearing debt 99,394 97,330 △2,064 △2.1% D/E ratio 1.25 1.09 △0.16 △12.8% • The policy remains to manage the business so that the D/E ratio is approximately 1.0x.」
Interest-bearing debt decreased by ¥2.064 billion from the end of the previous fiscal year, and the D/E ratio declined from 1.25x to 1.09x. Actual results indicate progress toward the policy of managing the ratio at approximately 1.0x. - FY2022First statedAnnual report
「• Funding and investment based on an optimal D/E ratio of 1.0x • A target of more than 12% ROE has been set with the aim of maintaining a high level of capital efficiency」
As new financial discipline following achievement of the previous plan’s financial restructuring targets, the company set out for the first time funding and investment based on an optimal D/E ratio of 1.0x and a target of more than 12% ROE.