Vizora日本語

Aoyama TradingAOYAMA TRADING Co., Ltd.8219東証プライム小売業FY ending Mar 2026, consolidated, J-GAAP

Aoyama Trading revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed -3.4% from the prior year, operating profit -15.8%.

Five-year trend

Revenue¥189B
FY ending Mar 2022: ¥166B¥166BFY ending Mar 2023: ¥185.6B¥185.6BFY ending Mar 2024: ¥193.7B¥193.7BFY ending Mar 2025: ¥195.7B¥195.7BFY ending Mar 2026: ¥189B¥189BFY22FY23FY24FY25FY26
Operating income¥10.6B
FY ending Mar 2022: ¥2.18B¥2.18BFY ending Mar 2023: ¥7.47B¥7.47BFY ending Mar 2024: ¥11.9B¥11.9BFY ending Mar 2025: ¥12.6B¥12.6BFY ending Mar 2026: ¥10.6B¥10.6BFY22FY23FY24FY25FY26
Operating margin5.6%
FY ending Mar 2022: 1.3%1.3%FY ending Mar 2023: 4.0%4.0%FY ending Mar 2024: 6.2%6.2%FY ending Mar 2025: 6.4%6.4%FY ending Mar 2026: 5.6%5.6%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin3.7%
Asset turnover0.61×
ROA2.2%
ROA2.2%
Financial leverage1.66×
ROE3.7%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin3.7%
2022: 0.8%0.8%2023: 2.3%2.3%2024: 5.2%5.2%2025: 4.8%4.8%2026: 3.7%3.7%2223242526
Asset turnover0.61×
2022: 0.51×0.51×2023: 0.56×0.56×2024: 0.58×0.58×2025: 0.60×0.60×2026: 0.61×0.61×2223242526
ROA2.2%
2022: 0.4%0.4%2023: 1.3%1.3%2024: 3.0%3.0%2025: 2.9%2.9%2026: 2.2%2.2%2223242526
Financial leverage1.66×
2022: 1.83×1.83×2023: 1.85×1.85×2024: 1.82×1.82×2025: 1.72×1.72×2026: 1.66×1.66×2223242526
ROE3.7%
2022: 0.8%0.8%2023: 2.4%2.4%2024: 5.5%5.5%2025: 5.0%5.0%2026: 3.7%3.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20220.8%0.51×0.4%1.83×0.8%
20232.3%0.56×1.3%1.85×2.4%
20245.2%0.58×3.0%1.82×5.5%
20254.8%0.60×2.9%1.72×5.0%
20263.7%0.61×2.2%1.66×3.7%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue45.2%
2021: 54.5%54.5%2022: 50.6%50.6%2023: 45.4%45.4%2024: 43.3%43.3%2025: 42.4%42.4%2026: 45.2%45.2%212223242526
PPE ÷ total assets27.9%
2021: 26.7%26.7%2022: 26.0%26.0%2023: 25.0%25.0%2024: 25.0%25.0%2025: 26.0%26.0%2026: 27.9%27.9%212223242526
Goodwill ÷ parent equity1.5%
2021: 3.4%3.4%2022: 3.0%3.0%2023: 2.4%2.4%2024: 1.9%1.9%2025: 1.5%1.5%2026: 1.5%1.5%212223242526
Goodwill balance¥2.79B
2021: ¥5.9B¥5.9B2022: ¥5.37B¥5.37B2023: ¥4.38B¥4.38B2024: ¥3.57B¥3.57B2025: ¥2.9B¥2.9B2026: ¥2.79B¥2.79B212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

Receivable days—
2021: 37d37d212223242526
Payable days45d
2021: 48d48d2022: 48d48d2023: 58d58d2024: 50d50d2025: 43d43d2026: 45d45d212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue165,961185,580193,687195,714189,011
Cost of revenue82,25291,43393,83395,12890,838
Gross profit83,70994,14799,853100,58698,172
SG&A81,52786,67387,93488,01387,583
Operating income2,1817,47311,91812,57310,588
Pretax income2,9496,25111,43112,4429,820
Income tax1,8351,7181,2083,0552,833
Net income attributable to owners1,3504,27810,0899,3976,918
Operating margin1.3%4.0%6.2%6.4%5.6%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 16%
Property, plant and equipment 28%
4%
2%
Other assets 50%

Funding

4%
Interest-bearing debt 22%
Other liabilities 15%
Equity 59%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥60.3B¥75.7B¥67.7B¥66.1B¥48.5B
Total assets¥322.7B¥336.2B¥335.6B¥318.4B¥306.1B
Net assets¥164.5B¥170B¥180.9B¥181.5B¥180.9B
Share capital¥62.5B¥62.5B¥62.5B¥62.5B¥62.5B
Property, plant and equipment¥84B¥84.2B¥83.8B¥82.9B¥85.4B
Intangible assets excluding goodwill¥11B¥9.37B¥8.53B¥8.47B¥8.66B
Goodwill¥5.37B¥4.38B¥3.57B¥2.9B¥2.79B
Investment securities¥5.34B¥6.15B¥7.47B¥4.73B¥6.14B
Current assets¥188.2B¥208.2B¥207.1B¥193.9B¥179.7B
Current liabilities¥68.8B¥85.7B¥101.2B¥68.7B¥57.3B
Trade payables¥10.7B¥14.5B¥12.8B¥11.3B¥11.2B
Short-term borrowings¥30.5B¥36.2B¥36.3B¥25.7B¥15.5B
Long-term borrowings¥48.4B¥42.5B¥30.1B¥45.6B¥50.7B
Bonds¥22B¥21B¥6B¥6B¥1B
Interest-bearing debt¥100.9Bderived¥99.7Bderived¥72.4Bderived¥77.2Bderived¥67.2Bderived
Total liabilities¥158.2B¥166.2B¥154.7B¥136.9B¥125.2B
Non-controlling interests¥3.36B¥3.59B¥3.75B¥3.71B¥3.76B
Equity attributable to owners of parent¥176.4B¥180B¥188.8B¥190.3B¥186.5B
Retained earnings¥53.1B¥56.6B¥65.4B¥69.9B¥69B
Treasury stock-¥1.58B-¥1.51B-¥1.44B-¥4.18B-¥7.14B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第62期(2025/04/01－2026/03/31)

    ID S100YJ442026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第61期(2024/04/01－2025/03/31)

    ID S100W2TN2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第60期(2023/04/01－2024/03/31)

    ID S100TWZS2024-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第59期(2022/04/01－2023/03/31)

    ID S100R9TF2023-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第58期(令和3年4月1日－令和4年3月31日)

    ID S100OLTN2022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第57期(令和2年4月1日－令和3年3月31日)

    ID S100LUWN2021-06-30Open

Extracted from XBRL: 54 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.

Open MarkdownShare on XSave image