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AskaASKA CORPORATION7227名古屋証券取引所輸送用機器FY ending Nov 2025, consolidated, J-GAAP

Aska revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +1.9% from the prior year, operating profit +17.9%.

Five-year trend

Revenue¥46.4B
FY ending Nov 2021: ¥27.4B¥27.4BFY ending Nov 2022: ¥33.5B¥33.5BFY ending Nov 2023: ¥45.4B¥45.4BFY ending Nov 2024: ¥45.5B¥45.5BFY ending Nov 2025: ¥46.4B¥46.4BFY21FY22FY23FY24FY25
Operating income¥2.13B
FY ending Nov 2021: ¥918.2M¥918.2MFY ending Nov 2022: ¥881.4M¥881.4MFY ending Nov 2023: ¥1.72B¥1.72BFY ending Nov 2024: ¥1.81B¥1.81BFY ending Nov 2025: ¥2.13B¥2.13BFY21FY22FY23FY24FY25
Operating margin4.6%
FY ending Nov 2021: 3.4%3.4%FY ending Nov 2022: 2.6%2.6%FY ending Nov 2023: 3.8%3.8%FY ending Nov 2024: 4.0%4.0%FY ending Nov 2025: 4.6%4.6%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin3.3%
Asset turnover1.14×
ROA3.8%
ROA3.8%
Financial leverage3.51×
ROE13.2%

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

Net margin3.3%
2021: 3.8%3.8%2022: 3.2%3.2%2023: 3.1%3.1%2024: 2.8%2.8%2025: 3.3%3.3%2122232425
Asset turnover1.14×
2021: 0.87×0.87×2022: 0.99×0.99×2023: 1.21×1.21×2024: 1.14×1.14×2025: 1.14×1.14×2122232425
ROA3.8%
2021: 3.3%3.3%2022: 3.1%3.1%2023: 3.7%3.7%2024: 3.2%3.2%2025: 3.8%3.8%2122232425
Financial leverage3.51×
2021: 3.98×3.98×2022: 4.05×4.05×2023: 4.00×4.00×2024: 3.81×3.81×2025: 3.51×3.51×2122232425
ROE13.2%
2021: 13.2%13.2%2022: 12.7%12.7%2023: 14.9%14.9%2024: 12.2%12.2%2025: 13.2%13.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20213.8%0.87×3.3%3.98×13.2%
20223.2%0.99×3.1%4.05×12.7%
20233.1%1.21×3.7%4.00×14.9%
20242.8%1.14×3.2%3.81×12.2%
20253.3%1.14×3.8%3.51×13.2%

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 ÷ revenue44.9%
2020: 81.0%81.0%2021: 71.2%71.2%2022: 59.4%59.4%2023: 45.5%45.5%2024: 45.8%45.8%2025: 44.9%44.9%202122232425
PPE ÷ total assets51.5%
2020: 63.8%63.8%2021: 61.6%61.6%2022: 54.8%54.8%2023: 53.1%53.1%2024: 51.2%51.2%2025: 51.5%51.5%202122232425
Goodwill ÷ parent equity—
2020: 0.8%0.8%2021: 0.2%0.2%202122232425
Goodwill balance—
2020: ¥60M¥60M2021: ¥12M¥12M202122232425

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¥48.3M
2020: ¥52M¥52M2021: ¥48.5M¥48.5M2022: ¥34.9M¥34.9M2023: ¥38.5M¥38.5M2024: ¥39.1M¥39.1M2025: ¥48.3M¥48.3M202122232425
R&D / revenue0.1%
2020: 0.2%0.2%2021: 0.2%0.2%2022: 0.1%0.1%2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%202122232425
Receivable days—
2020: 65d65d2021: 65d65d202122232425
Payable days44d
2020: 42d42d2021: 48d48d2022: 57d57d2023: 50d50d2024: 60d60d2025: 44d44d202122232425

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 Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Revenue27,40333,47345,43445,48346,357
Cost of revenue24,58030,43141,52541,29741,708
Gross profit2,8233,0433,9094,1874,649
SG&A1,9052,1612,1872,3812,520
Operating income9188811,7221,8052,129
Pretax income1,3601,2931,7751,8472,168
Income tax312224370571646
Net income attributable to owners1,0481,0681,4041,2751,521
Operating margin3.4%2.6%3.8%4.0%4.6%

Balance sheet (reported items)

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

Assets

7%
Property, plant and equipment 51%
0%
Investment securities 11%
Other assets 31%

Funding

Trade payables 13%
Other liabilities 51%
Equity 36%
0%

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

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Cash and equivalents¥1.42B¥1.62B¥1.11B¥1.73B¥2.81B
Total assets¥31.7B¥36.3B¥38.9B¥40.7B¥40.4B
Net assets¥8.68B¥10.4B¥11.8B¥13B¥14.5B
Share capital¥903.8M¥903.8M¥903.8M¥903.8M¥903.8M
Trade receivables¥4.85B————
Property, plant and equipment¥19.5B¥19.9B¥20.7B¥20.8B¥20.8B
Intangible assets excluding goodwill¥46.4M¥29.2M¥27M¥20.7M¥28.2M
Goodwill¥12M————
Investment securities¥1.84B¥2.41B¥2.92B¥3.39B¥4.29B
Current assets¥9.58B¥13.4B¥14.9B¥16B¥14.8B
Current liabilities¥12.9B¥16.7B¥18.1B¥18.4B¥16.1B
Trade payables¥3.24B¥4.77B¥5.68B¥6.76B¥5.08B
Short-term borrowings¥2.03B¥3.54B¥2.37B¥1.6B¥965M
Long-term borrowings¥8.53B¥7.82B¥7.87B¥8.01B¥8.24B
Total liabilities¥23B¥25.8B¥27.1B¥27.8B¥25.9B
Non-controlling interests¥4.2M¥6.2M¥7.3M¥7.7M¥7.8M
Equity attributable to owners of parent¥7.97B¥8.82B¥10B¥10.9B¥12.2B
Retained earnings¥6.17B¥7.02B¥8.21B¥9.13B¥10.4B
Treasury stock-¥3.7M-¥3.7M-¥3.7M-¥3.8M-¥3.8M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第72期(2024/12/01－2025/11/30)

    ID S100XNA62026-02-26Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第71期(2023/12/01－2024/11/30)

    ID S100VKS32025-04-09Open

  • EDINET (FSA Japan)

    有価証券報告書－第70期(2022/12/01－2023/11/30)

    ID S100SY792024-02-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第69期(2021/12/01－2022/11/30)

    ID S100QAFC2023-02-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第68期(令和2年12月1日－令和3年11月30日)

    ID S100NK8H2022-02-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第67期(令和1年12月1日－令和2年11月30日)

    ID S100KUX62021-02-26Open

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