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AWA Paper & Technological CompanyAWA PAPER & TECHNOLOGICAL COMPANY, Inc.3896東証スタンダードパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

AWA Paper & Technological Company revenue and profit

Operating profit was close to zero, a slight profit per ¥100 of sales. Revenue changed +8.0% from the prior year, operating profit -86.4%.

Five-year trend

Revenue¥18.5B
FY ending Mar 2022: ¥15B¥15BFY ending Mar 2023: ¥17.3B¥17.3BFY ending Mar 2024: ¥16.1B¥16.1BFY ending Mar 2025: ¥17.1B¥17.1BFY ending Mar 2026: ¥18.5B¥18.5BFY22FY23FY24FY25FY26
Operating income¥58.7M
FY ending Mar 2022: ¥269.4M¥269.4MFY ending Mar 2023: ¥376.2M¥376.2MFY ending Mar 2024: ¥354.8M¥354.8MFY ending Mar 2025: ¥432.4M¥432.4MFY ending Mar 2026: ¥58.7M¥58.7MFY22FY23FY24FY25FY26
Operating margin0.3%
FY ending Mar 2022: 1.8%1.8%FY ending Mar 2023: 2.2%2.2%FY ending Mar 2024: 2.2%2.2%FY ending Mar 2025: 2.5%2.5%FY ending Mar 2026: 0.3%0.3%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin4.1%
Asset turnover0.66×
ROA2.7%
ROA2.7%
Financial leverage6.83×
ROE18.3%

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

Net margin4.1%
2022: 1.9%1.9%2023: 1.4%1.4%2024: 0.3%0.3%2025: 0.2%0.2%2026: 4.1%4.1%2223242526
Asset turnover0.66×
2022: 0.97×0.97×2023: 1.09×1.09×2024: 0.86×0.86×2025: 0.71×0.71×2026: 0.66×0.66×2223242526
ROA2.7%
2022: 1.8%1.8%2023: 1.5%1.5%2024: 0.3%0.3%2025: 0.1%0.1%2026: 2.7%2.7%2223242526
Financial leverage6.83×
2022: 4.49×4.49×2023: 4.45×4.45×2024: 5.07×5.07×2025: 6.52×6.52×2026: 6.83×6.83×2223242526
ROE18.3%
2022: 8.2%8.2%2023: 6.8%6.8%2024: 1.4%1.4%2025: 1.0%1.0%2026: 18.3%18.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.9%0.97×1.8%4.49×8.2%
20231.4%1.09×1.5%4.45×6.8%
20240.3%0.86×0.3%5.07×1.4%
20250.2%0.71×0.1%6.52×1.0%
20264.1%0.66×2.7%6.83×18.3%

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 ÷ revenue89.3%
2021: 70.1%70.1%2022: 55.3%55.3%2023: 45.0%45.0%2024: 78.5%78.5%2025: 99.5%99.5%2026: 89.3%89.3%212223242526
PPE ÷ total assets57.0%
2021: 55.9%55.9%2022: 53.5%53.5%2023: 47.9%47.9%2024: 59.5%59.5%2025: 62.7%62.7%2026: 57.0%57.0%212223242526

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¥509.5M
2021: ¥470.3M¥470.3M2022: ¥413.9M¥413.9M2023: ¥395.2M¥395.2M2024: ¥389.8M¥389.8M2025: ¥434.4M¥434.4M2026: ¥509.5M¥509.5M212223242526
R&D / revenue2.8%
2021: 3.7%3.7%2022: 2.8%2.8%2023: 2.3%2.3%2024: 2.4%2.4%2025: 2.5%2.5%2026: 2.8%2.8%212223242526
Receivable days64d
2021: 71d71d2022: 70d70d2023: 65d65d2024: 62d62d2025: 64d64d2026: 64d64d212223242526
Payable days41d
2021: 36d36d2022: 38d38d2023: 37d37d2024: 34d34d2025: 37d37d2026: 41d41d212223242526

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
Revenue15,02317,30916,11617,12418,494
Cost of revenue12,41014,58013,54514,38115,974
Gross profit2,6132,7292,5702,7442,521
SG&A2,3442,3532,2152,3122,462
Operating income26937635543259
Pretax income268-1362312411,265
Income tax-918766-43289
Net income attributable to owners2832435236754
Operating margin1.8%2.2%2.2%2.5%0.3%

Balance sheet (reported items)

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

Assets

6%
Receivables 11%
Property, plant and equipment 57%
1%
1%
Other assets 24%

Funding

6%
Other liabilities 63%
Equity 31%

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¥361.4M¥329.1M¥885.2M¥739.4M¥1.59B
Total assets¥15.5B¥16.3B¥21.2B¥27.2B¥29B
Net assets¥6.37B¥6.47B¥6.88B¥7.58B¥8.9B
Share capital¥1.39B¥1.39B¥1.39B¥1.39B¥1.39B
Trade receivables¥2.87B¥3.1B¥2.75B¥3.02B¥3.26B
Property, plant and equipment¥8.31B¥7.8B¥12.6B¥17B¥16.5B
Intangible assets excluding goodwill¥7.7M¥13M¥31.2M¥121.2M¥291.4M
Investment securities¥171.9M¥163.7M¥213.5M¥199.8M¥364.4M
Current assets¥6.5B¥7.7B¥7.84B¥9.25B¥10.9B
Current liabilities¥5.14B¥5.75B¥10.2B¥9.26B¥9.22B
Trade payables¥1.31B¥1.48B¥1.26B¥1.47B¥1.78B
Short-term borrowings¥925.4M¥521M¥3.69B¥2.4B¥2.73B
Long-term borrowings¥2.78B¥2.73B¥2.85B¥9.07B¥9.64B
Total liabilities¥9.16B¥9.81B¥14.4B¥19.6B¥20.1B
Non-controlling interests¥1.84B¥1.52B¥1.75B¥2.21B¥2.5B
Equity attributable to owners of parent¥3.46B¥3.7B¥3.7B¥3.73B¥4.5B
Retained earnings¥809.7M¥1.05B¥1.05B¥1.09B¥1.84B
Treasury stock-¥114.7M-¥114.7M-¥114.7M-¥114.7M-¥101M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第112期(2025/04/01－2026/03/31)

    ID S100YL592026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第111期(2024/04/01－2025/03/31)

    ID S100W4A32025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第110期(2023/04/01－2024/03/31)

    ID S100TW0M2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第109期(2022/04/01－2023/03/31)

    ID S100R6662023-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第108期(令和3年4月1日－令和4年3月31日)

    ID S100OGAD2022-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第107期(令和2年4月1日－令和3年3月31日)

    ID S100LR0G2021-06-28Open

Extracted from XBRL: 51 / Derived from other figures: 1

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