In today’s briefing:
- Focus on Cash Flow Recovery from Investments as Planned, as Well as Appropriate Cash Allocation
Focus on Cash Flow Recovery from Investments as Planned, as Well as Appropriate Cash Allocation
- Last year’s CAPEX plan was also a record high, but ROE growth was limited. We should closely monitor whether the allocation of CAPEX, shareholder returns, and retained earnings is appropriate.
- When a company finally begins using cash on hand for investments and lacks reliable track records, it should be monitored to ensure that it’s generating sufficient cash flow from CAPEX.
- The trend continues to remain that most investments are directed overseas. Note that many Japanese companies have a history of having difficulty managing their overseas operations.
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