In today’s briefing:
- Do Managers Who Give Small Amounts of Shareholder Return to Have Other Objectives?

Do Managers Who Give Small Amounts of Shareholder Return to Have Other Objectives?
- If large companies that posted conservative outlook for FY3/2026 revise their guidance upwards amid weakening of Japanese Yen, there is an expectation that the decline in ROE will be smaller.
- More companies are strengthening shareholder returns, but a few companies can maintain high enough ROE to create value by hiring large higher shareholder returns to have impact on ROE.
- In order to raise ROE to a level that creates value, it is necessary to make investments and shareholder returns to have much impact on ROE.
