Improving Capital Efficiency, Including ROA, ROE and ROI
First written in FY2017. 5 of 14 entries say "Advanced", first in FY2019. Latest entry: FY2026.
Makiya moved to the "Worse" side of this theme in 2025, 1 year after the typical company in this theme (2024).
The whole theme swung hardest in 2023: 6 of 40 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「ROE was 6.81%, a decrease of 0.65% from the prior year. This was due to a 1.8% year-on-year decline in net income attributable to owners of the parent, together with a 7.7% year-on-year increase in equity.」
ROE fell from 7.45% in the prior fiscal year to 6.81%, and capital efficiency deteriorated due to an increase in equity and a decline in net income. - FY2026-H1RestatedAnnual report
「To achieve the medium-term management initiative for the fiscal years ending March 2025 through March 2027, "Improving capital efficiency (measures to improve ROE (return on equity))," the company is addressing each issue and implementing countermeasures.」
The company has reconfirmed improving capital efficiency through ROE improvement measures as a medium-term initiative for the fiscal years ending March 2025 through March 2027. - FY2025WorsenedAnnual report
「ROE was 7.45%, a decrease of 0.37% from the prior year. This was because net income attributable to owners of the parent increased 3.0% year on year, while equity increased 7.4% year on year.」
ROA fell from 4.06% to 3.84%, while ROE fell from 7.83% to 7.45%, indicating a deterioration in capital efficiency from the prior fiscal year. - FY2025-H1RestatedAnnual report
「To achieve the objectives of the medium-term management initiatives for the fiscal years ending March 2025 through March 2027, namely "Expanding profitability (increasing sales and improving the ordinary profit margin)," "Improving capital efficiency (measures to increase ROE (return on equity))," and "Enhancing shareholder returns (increasing the payout ratio and DOE (dividend on equity)),"」
The company has reconfirmed improving capital efficiency and measures to increase ROE as key pillars of its medium-term management initiatives for the fiscal years ending March 2025 through March 2027. - FY2024AdvancedAnnual report
「ROA (return on assets): 4.06%; ROE (return on equity): 7.83%」
ROA rose from 3.62% in the prior fiscal year to 4.06%, while ROE rose from 6.88% to 7.83%, indicating an improvement in capital efficiency. - FY2023WorsenedAnnual report
「ROA (return on assets): 3.62%; ROE (return on equity): 6.88%」
ROA fell from 4.11% in the prior fiscal year to 3.62%, while ROE fell from 8.27% to 6.88%, indicating a deterioration in capital efficiency from the prior fiscal year. - FY2021AdvancedAnnual report
「ROA (return on assets): 4.42%; ROE (return on equity): 9.50%」
ROA rose from 1.19% in the prior fiscal year to 4.42%, while ROE rose from 2.59% to 9.50%, indicating a significant improvement in capital efficiency. - FY2020AdvancedAnnual report
「ROE was 2.59%, an increase of 0.03% from the prior year.」
ROA rose from 1.18% in the prior fiscal year to 1.19%, while ROE rose from 2.56% to 2.59%, indicating a slight improvement in capital efficiency. - FY2019AdvancedAnnual report
「The trend in the management indicators targeted by the Group is as follows.」
ROA rose from 0.42% in the prior fiscal year to 1.18%, while ROE rose from 0.90% to 2.56%, indicating an improvement in capital efficiency. - FY2018RestatedAnnual report
「The Group places importance on management indicators focused on capital efficiency, including ROA (return on assets) and ROE (return on equity), as its target management indicators, and will work to improve its gross margin and labor productivity in order to improve these management metrics. It will also individually review the ROI (return on invested capital based on ordinary income) of new store and equipment investment projects included in each year's budget, with the aim of further improving operating efficiency and its financial position.」
The company reiterates its policy of prioritizing ROA, ROE and ROI and improving its gross margin, labor productivity and project-specific ROI. - FY2017First statedAnnual report
「The Group places importance on management indicators focused on capital efficiency, including ROA (return on assets) and ROE (return on equity), as its target management indicators, and will work to improve its gross margin and labor productivity in order to improve these management metrics. It will also individually review the ROI (return on invested capital based on ordinary income) of new store and equipment investment projects included in each year's budget, with the aim of further improving operating efficiency and its financial position.」
The company identifies ROA and ROE as key target indicators and plans to improve capital efficiency by improving its gross margin, increasing labor productivity and reviewing the ROI of each investment project.