AxellAXELL CORPORATION6730東証スタンダード電気機器FY ending Mar 2026, consolidated, J-GAAP

Axell revenue and profit

Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed -3.9% from the prior year, operating profit +13.9%.

Five-year trend

Revenue¥14.7B
FY ending Mar 2022: ¥10.7B¥10.7BFY ending Mar 2023: ¥14.5B¥14.5BFY ending Mar 2024: ¥17.6B¥17.6BFY ending Mar 2025: ¥15.2B¥15.2BFY ending Mar 2026: ¥14.7B¥14.7BFY22FY23FY24FY25FY26
Operating income¥1.66B
FY ending Mar 2022: ¥839M¥839MFY ending Mar 2023: ¥1.61B¥1.61BFY ending Mar 2024: ¥2.43B¥2.43BFY ending Mar 2025: ¥1.46B¥1.46BFY ending Mar 2026: ¥1.66B¥1.66BFY22FY23FY24FY25FY26
Operating margin11.4%
FY ending Mar 2022: 7.9%7.9%FY ending Mar 2023: 11.2%11.2%FY ending Mar 2024: 13.8%13.8%FY ending Mar 2025: 9.6%9.6%FY ending Mar 2026: 11.4%11.4%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin8.4%
Asset turnover0.94×
ROA7.9%
ROA7.9%
Financial leverage1.22×
ROE9.6%

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

Net margin8.4%
2022: 8.1%8.1%2023: 9.3%9.3%2024: 10.1%10.1%2025: 6.4%6.4%2026: 8.4%8.4%2223242526
Asset turnover0.94×
2022: 0.87×0.87×2023: 1.11×1.11×2024: 1.19×1.19×2025: 1.00×1.00×2026: 0.94×0.94×2223242526
ROA7.9%
2022: 7.0%7.0%2023: 10.3%10.3%2024: 12.0%12.0%2025: 6.4%6.4%2026: 7.9%7.9%2223242526
Financial leverage1.22×
2022: 1.18×1.18×2023: 1.20×1.20×2024: 1.24×1.24×2025: 1.23×1.23×2026: 1.22×1.22×2223242526
ROE9.6%
2022: 8.3%8.3%2023: 12.4%12.4%2024: 14.9%14.9%2025: 7.8%7.8%2026: 9.6%9.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20228.1%0.87×7.0%1.18×8.3%
20239.3%1.11×10.3%1.20×12.4%
202410.1%1.19×12.0%1.24×14.9%
20256.4%1.00×6.4%1.23×7.8%
20268.4%0.94×7.9%1.22×9.6%

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 ÷ revenue1.3%
2021: 1.1%1.1%2022: 1.0%1.0%2023: 0.9%0.9%2024: 1.0%1.0%2025: 1.3%1.3%2026: 1.3%1.3%212223242526
PPE ÷ total assets1.2%
2021: 0.9%0.9%2022: 0.9%0.9%2023: 1.0%1.0%2024: 1.1%1.1%2025: 1.3%1.3%2026: 1.2%1.2%212223242526
Goodwill ÷ parent equity—
2021: 0.4%0.4%2022: 0.3%0.3%2023: 0.1%0.1%2024: 0.0%0.0%212223242526
Goodwill balance—
2021: ¥41M¥41M2022: ¥29M¥29M2023: ¥17M¥17M2024: ¥5M¥5M212223242526

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¥1.64B
2021: ¥1.47B¥1.47B2022: ¥1.52B¥1.52B2023: ¥1.55B¥1.55B2024: ¥1.58B¥1.58B2025: ¥1.55B¥1.55B2026: ¥1.64B¥1.64B212223242526
R&D / revenue11.2%
2021: 16.4%16.4%2022: 14.3%14.3%2023: 10.7%10.7%2024: 9.0%9.0%2025: 10.1%10.1%2026: 11.2%11.2%212223242526

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
Revenue10,66614,47417,57015,24414,656
Cost of revenue7,1509,92811,97210,8569,947
Gross profit3,5164,5465,5974,3884,709
SG&A2,6772,9313,1712,9263,044
Operating income8391,6142,4261,4611,664
Pretax income1,0001,7412,4461,4041,783
Income tax130359662418531
Net income attributable to owners8651,3531,7719781,230
Operating margin7.9%11.2%13.8%9.6%11.4%

Balance sheet (reported items)

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

Assets

Cash 35%
1%
0%
Investment securities 18%
Other assets 46%

Funding

Other liabilities 15%
Equity 85%

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¥9.1B¥10.7B¥9.82B¥6.6B¥5.67B
Total assets¥12.3B¥13.9B¥15.6B¥15B¥16.1B
Net assets¥10.6B¥11.7B¥12.9B¥13B¥13.7B
Share capital¥1.03B¥1.03B¥1.03B¥1.03B¥1.03B
Property, plant and equipment¥105M¥133M¥174M¥191M¥186M
Intangible assets excluding goodwill¥53M¥43M¥38M¥29M¥17M
Goodwill¥29M¥17M¥5M——
Investment securities¥834M¥763M¥1.6B¥2.18B¥2.82B
Current assets¥11B¥12.8B¥13.6B¥12.4B¥12.8B
Current liabilities¥1.6B¥2.15B¥2.64B¥1.98B¥2.33B
Total liabilities¥1.65B¥2.19B¥2.68B¥2.03B¥2.38B
Non-controlling interests¥49M¥77M¥101M¥108M¥130M
Equity attributable to owners of parent¥10.4B¥11.4B¥12.4B¥12.5B¥13.1B
Retained earnings¥8.78B¥9.7B¥10.6B¥10.7B¥11.5B
Treasury stock-¥301M-¥258M-¥217M-¥195M-¥391M

Sources

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

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

    ID S100YC4Y2026-06-16Open
  • EDINET (FSA Japan)

    有価証券報告書-第30期(2024/04/01-2025/03/31)

    ID S100VYP92025-06-18Open
  • EDINET (FSA Japan)

    有価証券報告書-第29期(2023/04/01-2024/03/31)

    ID S100TPG62024-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第28期(2022/04/01-2023/03/31)

    ID S100R27T2023-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第27期(令和3年4月1日-令和4年3月31日)

    ID S100OEPZ2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第26期(令和2年4月1日-令和3年3月31日)

    ID S100LVNR2021-06-30Open

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

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