{
  "docId": "019dd923-622b-71dc-a6dd-256464d6609c",
  "docSlug": "2723e45b96d8",
  "documentTitle": "Keisei Electric Railway (9009)",
  "authorId": "24_Palliser_Capital",
  "authorName": "Palliser",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-04-23 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.414603,
  "pageNumber": 42,
  "pageCount": 55,
  "prevPage": 41,
  "nextPage": 43,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "The slide uses a custom flow diagram to link operational cash flow and divestment to three specific capital allocation buckets.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "process_diagram",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dd-256464d6609c/42",
  "deckHref": "/decks/019dd923-622b-71dc-a6dd-256464d6609c",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-256464d6609c.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-256464d6609c#slide-42",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "A transparent and well-communicated capital allocation process that ensures the highest-returning utilization of capital combined with a fair shareholder returns policy will help create a compelling D2 plan",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee3d-779f-824c-8d6e5a56617f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "framework",
      "text": null,
      "attrs": null,
      "subkind": "instance",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "73c195af-2c4a-48cd-9b2b-109bcc751c31",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.75
      },
      "kind": "list",
      "text": "Develop a clear understanding of ROE thresholds/targets versus cost of equity; Engage with investors; Clearly communicate findings; Continue ongoing engagement.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f06e7d1a-bd4e-4182-8788-f9568dcb357f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Note: See TSE recommendations in its paper: Considering The Investor's Point of View in Regard to Management Conscious of Cost of Capital and Stock Price. 1 February 2024. Total Return ratio = (Dividend per share + The amount of acquisition of treasury shares per share) / EPS.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dc91f5da-de92-48e1-be78-c64b7aae9981",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "subtitle",
      "text": "A transparent and well-communicated capital allocation process that ensures the highest-returning utilization of capital combined with a fair shareholder returns policy will help create a compelling D2 plan",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2ffa0ce9-ed28-410e-8bfd-906aea9f9486",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.1,
        "y": 0.05
      },
      "kind": "title",
      "text": "A clear, transparent and properly calibrated capital allocation framework...",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8d94b025-3927-494e-bccb-e82f8b0a30b7",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "capital-allocation-framework",
      "slug": null,
      "matchId": "168773b4-8a3e-43e5-bf0e-e1c2327c7cc6",
      "evidence": "The slide explicitly outlines a three-pillar capital allocation strategy (Growth, Dividend, Shareholder Returns).",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 47,
      "from": 28,
      "beatId": "4a7f19f4-cb93-4a07-bee9-537139dc77d8",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The deck proposes a solution, including a transparent and well-communicated capital allocation process and improved management compensation structure",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}