未来/新しい国/2030年を見せる/ファイナンストランスフォーメーション/理想損益計算書主義/素利益率主義/低販管費戦略/フェア研究開発費戦略/低減価償却主義/低支払利息戦略/適正納税主義/純利益成長主義/理想貸借対照表主義/現金主義/棚卸資産安定主義/低売掛金戦略/非流動比率主義/非過大投資主義/ブランド主義/適正ROA主義/無借金経営/普通株式主義/内部留保主義/自己株式主義/理想キャッシュフロー計算書主義/ミニマム投資主義

2030年はどのような世界か

世界各国/企業も理想の企業を模索している

ビジネスに絶対解はない

しかし, 財務諸表(会社の業績表)には理想形がある

ならば, 理想の財務諸表を目指し会社を数字から変革していけば良い

FX/ファイナンストランスフォーメーションだ

例えば, 理想の損益計算書(会社の一期間の業績表)を描き会社を数字から変革していく方法がある

理想損益計算書主義だ

売上高(収益)から売上原価(原材料費/直接的労務費など)を引いた素利益率が持続的優位企業は高い

素利益率主義だ

販売費及び一般管理費(経営陣の報酬/宣伝費/出張費/弁護士費用/手数料/従業員給与など)は一貫して低いのが望ましい

低販管費戦略だ

多額の研究開発費(R&D費用)を要する会社は競争優位性に構造的欠陥を内包している

適正研究開発費戦略だ

持続的優位企業は過酷な競争に苦しんでいる企業と比べ減価償却費(設備/機械/工場などの消却費用)が低くなる

低減価償却主義だ

持続的優位企業は支払利息(借金の利息)をほとんど計上していない

低支払利息戦略だ

持続的優位企業は税込み営業利益(税金を引く前の会社の通常操業により生み出される利益)に約0.3を掛けた適正法人税額を計上している

適正納税主義だ

持続的優位企業は売上高利益率(売上高に占める純利益の割合)は右肩上がりになっている

純利益成長主義だ

例えば, 理想の貸借対照表(会社の一時点の資産/負債表)を描き会社を数字から変革していく方法がある

理想貸借対照表主義だ

流動資産(現金/棚卸資産/売掛金など)のサイクル(販売から回収までの流れ)に注目すると持続的優位企業は現金及び現金同等物を多く蓄えている

現金主義だ

棚卸資産(商品/半製品など)の急激な増減がある企業は過酷な競争を強いられている可能性があり望ましくない

棚卸資産安定主義だ

売上高に占める売掛金(現金の支払いを繰り延べている債権)の割合が一貫して他社より低い企業は競争優位性を持つ可能性が高い

低売掛金戦略だ

流動比率で企業の優劣を見分ける事は出来ない

非流動比率主義だ

変更の必要がない製品を一貫して生産し続ける事は一貫して収益を上げ続ける事に等しい

非過大投資主義だ

無形資産を社内評価して高める事で持続的優位企業になれる

ブランド主義だ

あまりに高いROA(総資産利益率/純利益を総資産で割った利益率)は競争優位性の脆弱さを表している場合があり, 業界への参入コストを高めながらROAを向上させる必要がある

適正ROA主義だ

持続的優位企業はほとんどの場合, 長期借入金(1年超での返済の借金)が少額もしくはゼロである

無借金経営だ

優れた企業は優先株(議決権のない優先配当権を持つ株式)を発行しない傾向がある

普通株式主義だ

内部留保(企業内部に溜めている利益)の着実かつ長期的な増加は持続的優位企業の特徴である

内部留保主義だ

自己株式(自社の株式)の存在は, 企業が豊富なキャッシュを持っている事を示している

自己株式主義だ

例えば, 理想のキャッシュフロー計算書(会社の一期間の資金繰り表)を描き会社を数字から変革していく方法がある

理想キャッシュフロー計算書主義だ

持続的優位企業は資本的支出(土地/設備取得での現金や現金同等物の消費)が低くなる傾向にある

ミニマム投資主義だ

企業を再発明出来る

Great Future/New Country/Show 2030/Finance Transformation/Model Income Statementism/Gross Marginism/Low SG&Aism/Balanced R&Dism/Low Depreciationism/Low Interest Strategy/Fair Taxism/Net Income Growthism/Model Balance Sheetism/Cashism/Inventory Stabilizationism/Low Receivable Strategy/Non-Current Ratioism/Non-Overinvestmentism/Brandism/Fair ROAism/Debt Free Management/Common Stockism/Retained Earningsism/Treasury Stockism/Model Cash Flow Statementism/Minimum Investmentism

What will the world look like in 2030?

Countries/companies around the world are searching for the ideal company

There is no absolute solution in business

However, there is an ideal form of financial statements (company's performance chart)

Then, we should transform the company from the numbers to the ideal financial statements

It's FX/Finance Transformation

For example, there is a way to draw an ideal income statement (a company's performance chart for a period of time) and transform the company from the figures

It's Model Income Statementism

A company with a sustainable advantage has a high ratio of profit to sales (revenue) minus cost of sales (raw material cost/direct labor cost, etc.)

It's Gross Marginism

Selling, general and administrative expenses (management compensation/promotional expenses/travel expenses/legal fees/commissions/employee salaries, etc.) should be consistently low

It's Low SG&Aism

Companies with high R&D expenses (R&D costs) have structural deficiencies in their competitive advantage

It's Balanced R&Dism

Firms with sustainable competitive advantage will have lower depreciation costs than firms suffering from severe competition

It's Low Depreciationism

Firms with sustainable competitive advantage have lower interest expense (interest on debt)

It's Low Interest Strategy

Sustainably superior companies record a reasonable amount of corporate income tax, about 0.3 times the operating profit including tax (the profit generated by the company's normal operation before subtracting tax)

It's Fair Taxism

For a company with a sustainable advantage, the return on sales (the ratio of net income to net sales) is increasing steadily

It's Net Income Growthism

For example, there is a way to draw an ideal balance sheet (a company's assets/liabilities at a certain point in time) and transform the company from a numerical point of view

It's Model Balance Sheetism

If we look at the cycle of current assets (cash/inventory/receivables, etc.), we can see that companies with sustainable competitive advantage have a large amount of cash and cash equivalents

It's Cashism

Companies that experience rapid increases and decreases in inventories (merchandise, semi-finished goods, etc.) may be facing stiff competition, which is undesirable

It's Inventory Stabilizationism

Companies with consistently lower accounts receivable (receivables for which cash payments are deferred) as a percentage of sales than their competitors are likely to have a competitive advantage

It's Low Receivable Strategy

You can't tell if a company is superior or inferior by its current ratio

It's Non-Current Ratioism

Consistent production of products that do not need to be changed equals consistent profitability

It's Non-Overinvestmentism

Valuing intangibles internally and enhancing them can make a company a sustainable leader

It's Brandism

Too high ROA (Return on Assets/Net Income divided by Total Assets) may indicate a weak competitive advantage, and ROA needs to be improved while increasing the cost of entry into the industry

It's Fair ROAism

Most firms with sustainable advantage have little or no long-term debt (debt due in more than one year)

It's Debt Free Management

Good companies tend not to issue preferred shares (shares with preferred dividend rights without voting rights)

It's Common Stockism

Steady and long-term growth of retained earnings is the hallmark of a sustainable superior company

It's Retained Earningsism

The existence of treasury stock (company's own stock) indicates that the company has abundant cash

It's Treasury Stockism

For example, there is a way to draw an ideal cash flow statement (a company's cash flow chart for a period of time) and transform the company from a numerical point of view

It's Model Cash Flow Statementism

Companies with sustainable advantage tend to have lower capital expenditures (consumption of cash and cash equivalents for land/equipment acquisition)

It's Minimum Investmentism

We can reinvent the company