Business
Kinden : Capital Policy in the Medium-term Management Plan～Update based on dialogue with the capital markets～
Kinden : Capital Policy in the Medium-term Management Plan～Update based on dialogue with the capital
About this update from Kinden Corporation
[{"type":"text","content":"\n Capital Policy in the Medium-term Management Plan\n 〜Update based on dialogue with the capital markets〜\n January 31, 2025\n \n \n 0\n \n \n Contents\n \n Introduction\n \n \n ... P.2\n Capital Policy Update: Highlights\n \n \n ... P.3\n Capital Policy Update: Basic Concepts\n \n \n ... P.4-7\n Capital Policy Update: Initiatives\n \n \n 1.\n \n \n Reduction of Cross-shareholdings\n \n \n ... P.8\n \n \n 2.\n \n \n Shareholder Returns\n \n \n ... P.9\n \n \n 3.\n \n \n Capital Efficiency\n \n \n ... P.10\n \n 1\n \n Introduction\n The medium-term management plan \"Sustainable Growth 2026: People, Passion, and the Future\" has entered the second half of the six-year plan, and we are steadily making progress in our initiatives to achieve the growth vision.\n In this context, in the \"Growth Investments in the Medium-term Management Plan and Initiatives to Enhance Corporate Value\" released on January 31, 2024, we presented our \"Approach to Capital Policy,\" which stipulates strengthening shareholder returns based on the \"Approach to Value Co-creation with Multi-stakeholders\" and \"Growth Investments Centered on Human Resources.\"\n Based on our dialogue with the capital markets following the disclosure of our \"Approach to Capital Policy,\" we will disclose an update on our policy of reducing cross-shareholdings and capital efficiency improvement as further initiatives to enhance corporate value.\n \n 2\n \n Capital Policy Update: Highlights\n Items\n \n \n Initiatives toward FY2026\n \n \n Before the Update\n \n \n After the Update\n \n \n Ongoing\n \n \n \"Aiming for management with consolidated sales of on a scale 700 billion yen\"\n \n \n Growth Vision for\n \n \n As growth indicators: consolidated sales of around 700 billion yen,\n \n \n FY2026\n \n \n and consolidated operating income of around 50 billion yen\n \n \n Cross-shareholdings: Plan to reduce\n \n \n Updated\n \n \n •\n \n \n • Cross-shareholdings:Promote\n Reduction of cross-\n \n \n holdings from 117 stocks in FY2022 to 88\n \n \n reduction to a target of approximately\n \n \n shareholdings\n \n \n stocks during the period of the medium-term\n \n \n 10% of net assets during the medium-\n management plan (reduction amount:\n \n \n term management plan\n \n \n approximately 11 billion yen)\n \n \n Ongoing\n \n \n • Targeting a dividend payout ratio of ...