In today’s briefing:
- Both the Reduction in Cash on Hand and the Reduction in Policy-Held Shares Are Still Underway
Both the Reduction in Cash on Hand and the Reduction in Policy-Held Shares Are Still Underway
- Listed companies have accumulated a great deal of cash over the years, so they are more than capable of balancing growth investments with shareholder returns.
- Since Net Profit Margin remains slower than Operating Profit Margin, this may be a sign that companies will book extraordinary losses and embark on business restructuring leading to future profits.
- Asset turnover has not improved. Not only have shareholder returns increased only in proportion to the rise in cash flow, but the cross-shareholding program is still in its early stages.
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