- IR Information
- Management Policy
Policy for realizing management that is conscious of the cost of capital and stock price
Assessment of Current Status
- ・
June 2024: "Policy for realizing management that is conscious of the cost of capital and stock price" announced
- ・
In June 2024, the company announced the "Mid-term management goals(2028 year ended March 31," and is currently promoting initiatives to achieve sustainable earnings growth through business growth and earnings growth.
- ・
PBR continued to improve, reaching 0.72x in the fiscal year ended March 31, 2024. However, it dropped to 0.50x in the second quarter (interim) of the fiscal year ending March 2025. This decline was due to a discrepancy from the performance forecast (a 17.6% decrease in interim net income compared to the forecast) and instability in the stock market.
- ・
For investors, the growth strategy promoted by our group has not penetrated, and we have not acquired an evaluation.
- ・
There is a gap between the value of our group that investors are thinking about and what we believe
PBR (times)
Year-end stock price and BPS (yen)
ROE（％）
PER (times)
- ・
In the fiscal year ended March 31, 2025, net sales of Ready-made Meals Business and the Logistics and Food Processing Business were solid.
Decrease in sales in the Store Asset & Solution Business due to the extension of real estate sales - ・
The Logistics and Food Processing Business has performed strongly, with net sales achieving a CAGR of 55.0% and operating income achieving a CAGR of 157.5% since the fiscal year ended March 2022.
- ・
Net income declined due to a rise in the cost of Ready-made Meals Business, mainly in rice prices, and real estate sales in the Store Asset & Solution Business.
Profits declined due to the absence of the gain on sale and the recording of an impairment loss due to an extraordinary loss, and the net income margin also decreased. - ・
Total asset turnover ratio decreased due to an increase in total assets associated with the conversion of HOSOYA CORPORATION.CO.,LTD. to a subsidiary.
- ・
Financial leverage increased due to an increase in interest-bearing debt.
SWIPE
| Year ended March 31, 2022 | Year ended March 31, 2023 | Year ended March 31, 2024 | Year ended March 31, 2025 | |
|---|---|---|---|---|
| PBR (times) | 0.41 | 0.63 | 0.72 | 0.50 |
| ROE（％） | 4.6 | 4.7 | 6.9 | 4.9 |
| PER (times) | 9.1 | 13.6 | 10.9 | 10.3 |
SWIPE
| Year ended March 31, 2022 | Year ended March 31, 2023 | Year ended March 31, 2024 | Year ended March 31, 2025 | |
|---|---|---|---|---|
| Ratio of net income to revenues (%) | 3.1 | 2.9 | 3.4 | 2.7 |
| Net assets turnover (times) | 0.66 | 0.61 | 0.73 | 0.62 |
| Financial Leveraged (times) | 2.23 | 2.59 | 2.67 | 2.98 |
SWIPE
| Year ended March 31, 2022 | Year ended March 31, 2023 | Year ended March 31, 2024 | Year ended March 31, 2025 | |
|---|---|---|---|---|
| Stock price (year-end closing price (yen)) | 483 | 775 | 945 | 668 |
| Net Sales (millions of yen) | 31,722 | 35,613 | 46,761 | 45,175 |
| Net Income (millions of yen) | 978 | 1,047 | 1,601 | 1,204 |
| EBITDA (millions of yen) | 1,994 | 2,506 | 3,764 | 3,538 |
| 総資産（百万円） | 48,164 | 58,514 | 64,398 | 73,427 |
| Net assets (millions of yen) | 21,621 | 22,562 | 24,155 | 24,662 |
| BPS (yen) | 1,174.8 | 1,226.1 | 1,307.3 | 1,333.2 |
| EPS (yen) | 53.17 | 56.94 | 86.87 | 65.1 |
BPS (Net Assets per Share) EPS (Net Income per Share)
Ratio of net income to revenues (%)
Net assets turnover (times)
Financial Leveraged (times)
Net Sales (millions of yen)
Net Income (millions of yen)
EBITDA (millions of yen)
Initiatives
Improving profitability and improving asset efficiency
Implementation of the Medium-Term Management Targets for Sustainable Profit Growth through Business Growth and Profit Growth (Fiscal Year Ending March 2028) announced on June 3, 2024
Outline of Medium-Term Management Targets (Fiscal Year Ending March 31, 2028)
ROE8.3%, Allocate 17.8 billion yen (M&A of 12 billion yen and capital investment of 5.8 billion yen) to growth investment over the medium-term management target period of 4 years
EBITDA: ¥5.6 billion (up 47.4% from ¥3.8 billion in 2024), EPS growth rate: 54.8% (up ¥134.5 from ¥86.87 in 2024)
Improve profitability (Net income margin >Operating income margin)
Improve profitability by reforming business structure (portfolio) through M&A
Efficiency of assets (Improvement of total asset turnover)
Promote non-asset businesses such as reviewing the asset content of the balance sheet and shortening the inventory turnover period of real estate for sale
Increase in recurring revenue due to an increase in the number of stores in operation in the Store Asset & Solution Business segment, including the number of stores with lease transactions and the number of tenants for real estate management. Growth in consulting for foreigners with specific skills, staffing services, and store operators.
Cash flow allocation
Cumulative from 2025 to 2028
Capital management and shareholder value
Optimal capital structures
Consider and implement an optimal capital structure based on the business characteristics in pursuing business structure (portfolio) transformation with a sense of speed
Shareholder Returns
Our dividend policy is based on a basic policy of continuing to pay stable dividends. In addition to allocating profits to growth investments for the future, we aim to increase cash dividends by not less than the previous year in line with growth in net income per share in order to clarify our stance of emphasizing returns to shareholders.
In addition, the Company's policy is to flexibly acquire treasury shares based on a comprehensive consideration of factors such as capital levels, stock-market conditions, ROE, and growth in net income per share.
The Company will inform the Board of Directors of the total amount of share repurchases and the period of repurchase, if any.
The revised policy will be applied from the year ended March 31, 2025.
DPS and DOE Trends
Strengthen investor relations activities
Strengthen and increase the number of departments dedicated to IR
Established a department dedicated to IR at the Osaka/Tokyo headquarters to increase the number of employees and strengthen IR activities
Increase dialogue with shareholders, investors, and stock market participants and enhance information disclosure
Expansion of information disclosure (supplementary briefing material on financial results, etc.)
Improve understanding of the market by enhancing quantitative and qualitative information as a result of dialogue with shareholders, investors, and stock market participants
Promote and deepen understanding of the quality of our group through media such as Web, newspapers, and magazines
Continuous review of IR websites with enhanced convenience for investors
Aggressive IR
Proactively approach securities companies, institutional investors, and individual investors
Regular press conferences for the media at the time of earnings announcements
Holding conferences for individual investors
Holding briefings for analysts and institutional investors
Report to the President and the Board of Directors
Every week, the person in charge of IR reports to the Chairman and President on the status of dialogue, stock price trends, indicators, etc., and discusses and implements the required countermeasures.
Reports to the Board of Directors and conducts reviews as needed.