In today’s briefing:
- The Key Is when the Next Move Will Come that Steers Away from Increasing Cash on Hand
The Key Is when the Next Move Will Come that Steers Away from Increasing Cash on Hand
- Even as more companies shifted to cash flow-focused management, their cash reserves remained stubbornly high, and few announced cash allocation policies. Finally, cash reserves began to decline—driven by TSE’s request.
- ROE and P/B of companies that disclosed in response to TSE’s request haven’t improved. Consequently, the strategic intent behind share buybacks appears weak and isn’t being well received by investors.
- The decision to veer away from increasing cash reserves is the first step. How long will it take before the next move emerges to improve capital profitability and generate value?
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