As PartnersAs Partners CO.,LTD.160A東証スタンダードサービス業FY ending Mar 2026, non-consolidated, J-GAAP

As Partners revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed +32.1% from the prior year, operating profit +16.8%.

Five-year trend

Revenue¥23.7B
FY ending Mar 2023: ¥12.8B¥12.8BFY ending Mar 2024: ¥17.2B¥17.2BFY ending Mar 2025: ¥17.9B¥17.9BFY ending Mar 2026: ¥23.7B¥23.7BFY23FY24FY25FY26
Operating income¥1.52B
FY ending Mar 2023: ¥201.1M¥201.1MFY ending Mar 2024: ¥805.5M¥805.5MFY ending Mar 2025: ¥1.31B¥1.31BFY ending Mar 2026: ¥1.52B¥1.52BFY23FY24FY25FY26
Operating margin6.4%
FY ending Mar 2023: 1.6%1.6%FY ending Mar 2024: 4.7%4.7%FY ending Mar 2025: 7.3%7.3%FY ending Mar 2026: 6.4%6.4%FY23FY24FY25FY26

What drives ROE

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

Net margin5.0%
Asset turnover1.03×
ROA5.2%
ROA5.2%
Financial leverage4.91×
ROE25.4%

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

Net margin5.0%
2023: 1.8%1.8%2024: 3.3%3.3%2025: 5.3%5.3%2026: 5.0%5.0%23242526
Asset turnover1.03×
2023: 0.87×0.87×2024: 1.12×1.12×2025: 0.96×0.96×2026: 1.03×1.03×23242526
ROA5.2%
2023: 1.6%1.6%2024: 3.7%3.7%2025: 5.1%5.1%2026: 5.2%5.2%23242526
Financial leverage4.91×
2023: 7.91×7.91×2024: 7.23×7.23×2025: 5.71×5.71×2026: 4.91×4.91×23242526
ROE25.4%
2023: 12.3%12.3%2024: 26.6%26.6%2025: 29.2%29.2%2026: 25.4%25.4%23242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20231.8%0.87×1.6%7.91×12.3%
20243.3%1.12×3.7%7.23×26.6%
20255.3%0.96×5.1%5.71×29.2%
20265.0%1.03×5.2%4.91×25.4%

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 ÷ revenue18.7%
2023: 29.9%29.9%2024: 18.4%18.4%2025: 20.7%20.7%2026: 18.7%18.7%23242526
PPE ÷ total assets18.2%
2023: 25.9%25.9%2024: 19.8%19.8%2025: 17.3%17.3%2026: 18.2%18.2%23242526

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

Income statement (JPY millions)

ItemFY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue12,78217,15117,91823,661
Cost of revenue10,63014,04114,04419,394
Gross profit2,1523,1093,8744,267
SG&A1,9512,3042,5692,743
Operating income2018061,3051,524
Pretax income3408641,3501,610
Income tax110300393426
Net income attributable to owners2305649571,185
Operating margin1.6%4.7%7.3%6.4%

Balance sheet (reported items)

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

Assets

Cash 13%
Property, plant and equipment 18%
0%
Other assets 69%

Funding

Other liabilities 79%
Equity 21%
0%

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

ItemFY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥1.78B¥2.9B¥3.49B¥3.13B
Total assets¥14.7B¥16B¥21.4B¥24.4B
Net assets¥1.86B¥2.38B¥4.16B¥5.17B
Share capital¥122.8M¥122.8M¥593.5M¥601.8M
Property, plant and equipment¥3.82B¥3.15B¥3.71B¥4.43B
Intangible assets excluding goodwill¥102.2M¥92.6M¥82.5M¥82.5M
Current assets¥9.66B¥11.4B¥16.4B¥15.3B
Current liabilities¥8.5B¥9.14B¥8.93B¥14.6B
Short-term borrowings¥2.06B¥485.1M¥1.13B¥1.6B
Long-term borrowings¥3.94B¥3.49B¥7.26B¥3.25B
Bonds¥20M———
Interest-bearing debt¥6.02Bderived———
Total liabilities¥12.9B¥13.6B¥17.2B¥19.2B
Equity attributable to owners of parent¥1.86B¥2.38B¥4.16B¥5.17B
Retained earnings¥1.66B¥2.17B¥3.02B¥4B

Sources

Show source documents (3)
  • EDINET (FSA Japan)

    有価証券報告書-第22期(2025/04/01-2026/03/31)

    ID S100YIQV2026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第21期(2024/04/01-2025/03/31)

    ID S100W3HY2025-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第20期(2023/04/01-2024/03/31)

    ID S100TX4L2024-06-28Open

Extracted from XBRL: 44 / Derived from other figures: 1

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.