Emphasis on ROA and ROE and Maintaining an Equity Ratio of 50% or More
First written in FY2017. 3 of 32 entries say "Advanced", first in FY2019. Latest entry: FY2026.
The whole theme swung hardest in 2025: 2 of 11 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2026AchievedAnnual report
「In the current fiscal year, achieved all of the medium-term management plan's target earnings, ROA (EBITDA) and equity ratio guidelines」
In fiscal 2025, the final year of the plan, the company achieved all of the key guidelines in the medium-term management plan, including consolidated net income of ¥29,139 million, ROA (EBITDA) of 15.5% and an equity ratio of 42.7%. - FY2026-H1AchievedAnnual report
「Achieved the 40% equity ratio targeted in the medium-term management plan」
The company achieved the 40% equity ratio targeted in the medium-term management plan, and the equity ratio at the end of the interim consolidated fiscal period was 41.3%. - FY2025AdvancedAnnual report
「ROA (EBITDA) for the current fiscal year was 14.3%. The equity ratio as of the end of the current fiscal year was 39.9%. The dividend payout ratio for the current fiscal year was 30.5%.」
ROA (EBITDA) exceeded the target of 12% or higher, and the dividend payout ratio exceeded the target of 30% or higher. The equity ratio was 39.9%, nearing the target of recovering to the 40% range. - FY2025-H1Update of interim equity ratio resultsAnnual report
「As a result, the equity ratio was 38.0% (36.5% at the end of the previous fiscal year).」
The equity ratio rose from 36.5% at the end of the previous fiscal year to 38.0%, updating the interim-period result against the target of recovering to 40% or higher. - FY2024AdvancedAnnual report
「ROA (EBITDA) for the current fiscal year was 12.7%.」
Against the fiscal 2025 target of 12% or higher, ROA (EBITDA) for the current fiscal year was 12.7%. The equity ratio was 36.5%, below the target in the 40% range, but rose from 33.6% in the previous fiscal year, while the dividend payout ratio was 32.4%. - FY2024-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 35.2% (33.6% at the end of the previous fiscal year).」
The equity ratio rose from 33.6% at the end of the previous fiscal year to 35.2%, updating the result at the end of the third quarter against the target of recovering to 40% or higher. - FY2024-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.9% (33.6% at the end of the previous fiscal year).」
The equity ratio rose from 33.6% at the end of the previous fiscal year to 34.9%, updating the result at the end of the second quarter against the target of recovering to 40% or higher. - FY2024-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.3% (33.6% at the end of the previous fiscal year).」
The equity ratio rose from 33.6% at the end of the previous fiscal year to 34.3%, updating the result at the end of the first quarter against the target of recovering to 40% or higher. - FY2023Update of fiscal 2022 performance indicatorsAnnual report
「ROA (EBITDA) for the current fiscal year was 4.0%. The equity ratio as of the end of the current fiscal year was 33.6%.」
ROA (EBITDA) for fiscal 2022 was 4.0% and the equity ratio was 33.6%, updating the results against the fiscal 2025 targets of ROA of 12% or higher and recovery of the equity ratio to the 40% range. - FY2023-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 33.3% (33.2% at the end of the previous fiscal year).」
The equity ratio rose from 33.2% at the end of the previous fiscal year to 33.3%, updating the result at the end of the third quarter against the target of recovering to 40% or higher. - FY2023-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 33.4% (33.2% at the end of the previous fiscal year).」
The equity ratio rose from 33.2% at the end of the previous fiscal year to 33.4%, updating the result at the end of the second quarter against the target of recovering to 40% or higher. - FY2023-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 33.0% (33.2% at the end of the previous fiscal year).」
The equity ratio declined from 33.2% at the end of the previous fiscal year to 33.0%. - FY2022Reaffirmation of the target of 40% or higherAnnual report
「The previous medium-term management plan stated that the company would aim to recover to 40% or higher from fiscal 2021 onward. Although the equity ratio has declined amid the business environment created by the COVID-19 pandemic, the company will continue to aim to maintain its A+ credit rating and achieve an early stabilization of its financial base, with the goal of recovering to 40% or higher.」
The new medium-term management plan explicitly set a target of recovering the equity ratio to 40% or higher, replacing the previous goal of achieving stability at an early stage. The equity ratio at the end of the fiscal year was 33.2%. - FY2022-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 31.6% (34.3% at the end of the previous fiscal year).」
The equity ratio declined from 34.3% at the end of the previous fiscal year to 31.6%. - FY2022-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 33.5% (34.3% at the end of the previous fiscal year).」
The equity ratio declined from 34.3% at the end of March 2021 to 33.5% at the end of September 2021. - FY2022-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 33.7% (34.3% at the end of the previous fiscal year).」
The equity ratio declined from 34.3% at the end of the previous fiscal year to 33.7%. - FY2021SoftenedAnnual report
「Although we believe that medium- to long-term passenger demand can be expected, near-term passenger trends are extremely uncertain. We would therefore like to present the target metrics for the next medium-term management plan once we are able to formulate a reliable business plan.」
Results against the previous plan were ROA (EBITDA) of -4.7%, operating margin of -112.3%, and an equity ratio of 34.3%. It was stated that targets for the next fiscal year would be presented after a reliable business plan had been formulated. - FY2021-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 27.6% (31.2% at the end of the previous consolidated fiscal year).」
The equity ratio declined from 31.2% at the end of the previous consolidated fiscal year to 27.6%. - FY2021-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 28.3% (31.2% at the end of the previous consolidated fiscal year).」
The equity ratio declined from 31.2% at the end of the previous consolidated fiscal year to 28.3%. - FY2021-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 30.2% (31.2% at the end of the previous consolidated fiscal year).」
The equity ratio declined from 31.2% at the end of the previous consolidated fiscal year to 30.2%. The former target of an equity ratio of at least 50% had already been changed to wording expressing an aim for early stabilization, and results in the 30% range were reported for the current quarter as well. - FY2020SoftenedAnnual report
「However, due to the impact of COVID-19, it is currently extremely difficult to achieve the target indicators.」
Regarding the fiscal 2020 targets of ROA (EBITDA) of 12.0%, operating margin of at least 8.0%, and early stabilization of the equity ratio, the wording changed to state that achievement was extremely difficult due to the impact of the infectious disease and that the target figures were being reconsidered. Fiscal 2019 results were ROA (EBITDA) of 7.5%, operating margin of 4.0%, and an equity ratio of 31.2%. - FY2020-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.5% (33.7% at the end of the previous consolidated fiscal year).」
Reported that the equity ratio increased from 33.7% at the end of the previous consolidated fiscal year to 34.5%. - FY2020-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 35.3% (33.7% at the end of the previous consolidated fiscal year).」
Reported that the equity ratio increased from 33.7% at the end of the previous consolidated fiscal year to 35.3%. - FY2020-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.6% (33.7% at the end of the previous consolidated fiscal year).」
Reported that the equity ratio increased from 33.7% at the end of the previous consolidated fiscal year to 34.6%. - FY2019AdvancedAnnual report
「The target for ROA (EBITDA), the overall strength indicator, is 12.0%, benchmarked against highly regarded airports worldwide. In light of TIAT, formerly an equity-method affiliate, becoming a consolidated subsidiary, the target for operating margin, the profitability indicator, is at least 8.0%. As the consolidation of TIAT, which also operates its business through project finance, reduced the equity ratio, the target for the equity ratio, the financial stability indicator, is to restore it at an early stage.」
The fiscal 2020 targets were stated as ROA (EBITDA) of 12.0%, operating margin of at least 8.0%, and early stabilization of the equity ratio. Fiscal 2018 results were 13.0%, 8.2% and 33.7%, respectively. - FY2019-Q3Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.0% (55.7% at the end of the previous consolidated fiscal year).」
Reported that the equity ratio was 34.0% at the end of the third quarter. - FY2019-Q2Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 34.0% (55.7% at the end of the previous consolidated fiscal year).」
At the end of the second quarter after TIAT became a consolidated subsidiary, the equity ratio was 34.0%, down from 55.7% at the end of the previous consolidated fiscal year. - FY2019-Q1Update of Equity Ratio ResultsAnnual report
「As a result, the equity ratio was 35.6% (55.7% at the end of the previous consolidated fiscal year).」
At the end of the first quarter after TIAT became a consolidated subsidiary, the equity ratio was 35.6%, down from 55.7% at the end of the previous consolidated fiscal year. - FY2018ReframedAnnual report
「Because Tokyo International Air Terminal Corporation (TIAT) had previously been reflected in the Group's consolidated financial statements as an equity-method affiliate, the Group had used ROA (ordinary income) as its overall strength indicator. As TIAT will now be reflected as a consolidated subsidiary, this indicator will change from ROA (ordinary income) to ROA (EBITDA), and operating margin will newly be used as the profitability indicator. The consolidation of TIAT as a subsidiary will substantially reduce the equity ratio, which is an indicator of financial stability, but the Group aims to restore stability at an early stage.」
Following the consolidation of TIAT as a subsidiary, the overall strength indicator changed from ROA (ordinary income) to ROA (EBITDA), and operating margin was newly adopted as the profitability indicator. The previous explicit target of maintaining an equity ratio of at least 50% was removed, and the wording now expresses an aim to restore the equity ratio quickly after its substantial decline. - FY2017First statedAnnual report
「The Group positions ROA (return on ordinary income to total assets) and ROE (return on net income to equity) as important management indicators. Recognizing the importance of pursuing management focused on maximizing returns on invested capital and enhancing shareholder value, the Group has set targets for ROA (ordinary income and EBITDA) in its medium-term management plan and is working further to increase the value of its assets, represented by passenger terminal buildings. It will also maintain an equity ratio of at least 50% and ensure financial soundness through appropriate management of debt and other liabilities.」
ROA and ROE were identified as important indicators, targets for ROA were set in the medium-term management plan, and a target of maintaining an equity ratio of at least 50% through management of debt and other liabilities was stated for the first time.