Asahi PrintingASAHI PRINTING CO.,LTD.3951東証スタンダードパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Asahi Printing revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed +1.6% from the prior year, operating profit -21.8%.

Five-year trend

Revenue¥44.6B
FY ending Mar 2022: ¥38.8B¥38.8BFY ending Mar 2023: ¥40.3B¥40.3BFY ending Mar 2024: ¥41.9B¥41.9BFY ending Mar 2025: ¥43.9B¥43.9BFY ending Mar 2026: ¥44.6B¥44.6BFY22FY23FY24FY25FY26
Operating income¥1.62B
FY ending Mar 2022: ¥2.3B¥2.3BFY ending Mar 2023: ¥2.26B¥2.26BFY ending Mar 2024: ¥2.03B¥2.03BFY ending Mar 2025: ¥2.08B¥2.08BFY ending Mar 2026: ¥1.62B¥1.62BFY22FY23FY24FY25FY26
Operating margin3.6%
FY ending Mar 2022: 5.9%5.9%FY ending Mar 2023: 5.6%5.6%FY ending Mar 2024: 4.9%4.9%FY ending Mar 2025: 4.7%4.7%FY ending Mar 2026: 3.6%3.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.6%
Asset turnover0.64×
ROA2.3%
ROA2.3%
Financial leverage2.15×
ROE4.9%

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

Net margin3.6%
2022: 4.6%4.6%2023: 4.2%4.2%2024: 3.9%3.9%2025: 3.9%3.9%2026: 3.6%3.6%2223242526
Asset turnover0.64×
2022: 0.56×0.56×2023: 0.60×0.60×2024: 0.63×0.63×2025: 0.63×0.63×2026: 0.64×0.64×2223242526
ROA2.3%
2022: 2.6%2.6%2023: 2.5%2.5%2024: 2.4%2.4%2025: 2.4%2.4%2026: 2.3%2.3%2223242526
Financial leverage2.15×
2022: 2.31×2.31×2023: 2.20×2.20×2024: 2.14×2.14×2025: 2.18×2.18×2026: 2.15×2.15×2223242526
ROE4.9%
2022: 5.9%5.9%2023: 5.6%5.6%2024: 5.2%5.2%2025: 5.3%5.3%2026: 4.9%4.9%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20224.6%0.56×2.6%2.31×5.9%
20234.2%0.60×2.5%2.20×5.6%
20243.9%0.63×2.4%2.14×5.2%
20253.9%0.63×2.4%2.18×5.3%
20263.6%0.64×2.3%2.15×4.9%

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 ÷ revenue75.0%
2021: 77.7%77.7%2022: 75.8%75.8%2023: 72.2%72.2%2024: 72.9%72.9%2025: 73.8%73.8%2026: 75.0%75.0%212223242526
PPE ÷ total assets48.4%
2021: 49.1%49.1%2022: 42.5%42.5%2023: 44.6%44.6%2024: 44.4%44.4%2025: 46.0%46.0%2026: 48.4%48.4%212223242526
Goodwill ÷ parent equity3.8%
2021: 1.2%1.2%2022: 1.4%1.4%2023: 1.3%1.3%2024: 4.0%4.0%2025: 4.0%4.0%2026: 3.8%3.8%212223242526
Goodwill balance¥1.24B
2021: ¥348.6M¥348.6M2022: ¥405.4M¥405.4M2023: ¥391.6M¥391.6M2024: ¥1.26B¥1.26B2025: ¥1.29B¥1.29B2026: ¥1.24B¥1.24B212223242526

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.

R&D spending¥21M
2021: ¥30.9M¥30.9M2022: ¥35.7M¥35.7M2023: ¥34.9M¥34.9M2024: ¥25.7M¥25.7M2025: ¥26.3M¥26.3M2026: ¥21M¥21M212223242526
R&D / revenue0.0%
2021: 0.1%0.1%2022: 0.1%0.1%2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.0%0.0%212223242526
Receivable days—
2021: 125d125d212223242526
Payable days—
2021: 76d76d212223242526

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
Revenue38,80740,30341,87143,94544,642
Cost of revenue29,58930,98732,39034,05134,909
Gross profit9,2179,3169,4819,8939,732
SG&A6,9217,0567,4517,8178,108
Operating income2,2962,2602,0312,0761,623
Pretax income2,6832,5862,3962,5402,225
Income tax882861765778576
Net income attributable to owners1,7761,7081,6281,7041,592
Operating margin5.9%5.6%4.9%4.7%3.6%

Balance sheet (reported items)

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

Assets

Cash 10%
Property, plant and equipment 49%
5%
7%
Other assets 29%

Funding

Other liabilities 47%
Equity 53%

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¥14.7B¥10.9B¥8.94B¥9.98B¥6.61B
Total assets¥69.2B¥65.1B¥68.7B¥70.5B¥69.2B
Net assets¥31.6B¥32.8B¥34.2B¥35.6B¥36.7B
Share capital¥2.23B¥2.23B¥2.23B¥2.23B¥2.23B
Property, plant and equipment¥29.4B¥29.1B¥30.5B¥32.4B¥33.5B
Intangible assets excluding goodwill¥917.8M¥984.4M¥2.37B¥2.42B¥2.44B
Goodwill¥405.4M¥391.6M¥1.26B¥1.29B¥1.24B
Investment securities¥4.82B¥4.71B¥5.16B¥4.62B¥5.08B
Current assets¥32.7B¥28.9B¥29B¥29.6B¥26.3B
Current liabilities¥19.6B¥16.7B¥15.5B¥14.4B¥14.2B
Short-term borrowings¥30M¥30M¥75M¥99M¥30M
Long-term borrowings¥10.9B¥7.87B¥10.6B¥11.8B¥12.8B
Bonds¥3.5B¥3.5B¥3.5B¥3.5B—
Interest-bearing debt¥14.4Bderived¥11.4Bderived¥14.2Bderived¥15.4Bderived—
Total liabilities¥37.6B¥32.3B¥34.5B¥34.9B¥32.4B
Non-controlling interests¥314.1M¥331.4M¥1.12B¥1.3B¥1.1B
Equity attributable to owners of parent¥30B¥31.1B¥31.5B¥32.3B¥32.6B
Retained earnings¥26.9B¥27.9B¥28.7B¥29.3B¥30.1B
Treasury stock-¥1.52B-¥1.39B-¥1.86B-¥1.58B-¥2.07B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第110期(2025/04/01-2026/03/31)

    ID S100YEXW2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第109期(2024/04/01-2025/03/31)

    ID S100W1S22025-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第108期(2023/04/01-2024/03/31)

    ID S100TWHE2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第107期(2022/04/01-2023/03/31)

    ID S100R5TI2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第106期(令和3年4月1日-令和4年3月31日)

    ID S100OIL82022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第105期(令和2年4月1日-令和3年3月31日)

    ID S100LNO82021-06-25Open

Extracted from XBRL: 53 / Derived from other figures: 1

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