Cash Allocation with the Cost of Capital and Share Price in Mind
First written in FY2024. 3 of 5 entries say "Reframed", first in FY2025. Latest entry: 2026-08-31.
The whole theme swung hardest in 2017: 1 of 7 companies on the "Worse" side.
47 other companies' latest entry also says "Advanced".
- 2026-08-31AdvancedM&A and Subsidiary Changes
「これらのシナジーを通じて、産業機器セグメントにおける電子事業の拡大をはじめとする重点戦略を加速させることが、当社グループの事業ポートフォリオ強化及び持続的な企業価値向上に資するものと判断し、本件株式取得を行うことを決定いたしました。」
M&A・資本提携の実行枠として掲げていた事業ポートフォリオ強化について、完全子会社化を具体的な案件として決定している。 - FY2026ReframedAnnual report
「In addition, as part of our efforts to achieve management that is conscious of the cost of capital and share price, we have formulated a cash allocation plan covering the fiscal years ending March 2027 through March 2029. Specifically, we have established allocations for investment in areas including logistics, research and development, DX and engineering, which are key functions for implementing the six priority measures described in “Part 2. Business Conditions, 1. Management Policy, Business Environment and Issues to Be Addressed, (3) Business Environment and Issues to Be Addressed,” as growth investments, shareholder returns equivalent to approximately 60% of the total payout ratio, and an execution budget for M&A and capital alliances.」
The cash allocation period has been updated to the fiscal years ending March 2027 through March 2029, and allocations for investment in logistics, research and development, DX and engineering, shareholder returns equivalent to approximately 60% of the total payout ratio, and M&A and capital alliances continue to be included. - 2026-06-16ReframedResults presentation
「具体的には、取引信用力やＢＣＰの観点から必要な運転資金を確保したうえで、６つの重点施策を実行するための「重点機能」である物流・開発・ＤＸ・エンジニアリング分野への投資枠を拡大しております。」
キャッシュ・アロケーションの対象期間を2027年3月期から2029年3月期へ更新し、重点機能への投資枠を拡大している。 - FY2025ReframedAnnual report
「In addition, as part of our efforts to achieve management that is conscious of the cost of capital and share price, we have formulated a cash allocation plan covering the fiscal years ending March 2026 through March 2028. Specifically, we have established allocations for investment in areas including logistics, research and development, DX and engineering, which are key functions for implementing the six priority measures described in “Part 2. Business Conditions, 1. Management Policy, Business Environment and Issues to Be Addressed, (3) Business Environment and Issues to Be Addressed,” as growth investments, shareholder returns equivalent to approximately 60% of the total payout ratio, and an execution budget for M&A and capital alliances.」
The cash allocation period has been updated to the fiscal years ending March 2026 through March 2028, with explicit allocations for investment in logistics, research and development, DX and engineering, shareholder returns equivalent to approximately 60% of the total payout ratio, and M&A and capital alliances. - FY2024First statedAnnual report
「In addition, as part of our efforts to achieve management that is conscious of the cost of capital and share price, we have formulated a cash allocation plan covering the fiscal years ending March 2025 through March 2027. By allocating operating cash flow generated through business activities and liquid assets on hand to growth investments and shareholder returns, we will seek to further improve capital efficiency. Specifically, we have established allocations for investment in areas including logistics, research and development, DX and engineering, which are key functions for implementing the six priority measures described in “Part 2. Business Conditions, 1. Management Policy, Business Environment and Issues to Be Addressed, (3) Business Environment and Issues to Be Addressed,” as growth investments, as well as targets for raising the total payout ratio and an execution budget for M&A and capital alliances.」
For the fiscal years ending March 2025 through March 2027, the company explicitly states for the first time its policy of allocating operating cash flow and liquid assets on hand to growth investments and shareholder returns, including investment in logistics, research and development, DX and engineering, an increase in the total payout ratio, and M&A and capital alliances.