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Chugoku Marine PaintsCHUGOKU MARINE PAINTS,LTD.4617東証プライム化学FY ending Mar 2026, consolidated, J-GAAP

Chugoku Marine Paints revenue and profit

Out of every ¥100 of sales, about ¥13 is left as operating profit. Revenue changed +6.3% from the prior year, operating profit +13.4%.

Five-year trend

Revenue¥139.4B
FY ending Mar 2022: ¥84.3B¥84.3BFY ending Mar 2023: ¥99.5B¥99.5BFY ending Mar 2024: ¥116.2B¥116.2BFY ending Mar 2025: ¥131.2B¥131.2BFY ending Mar 2026: ¥139.4B¥139.4BFY22FY23FY24FY25FY26
Operating income¥17.4B
FY ending Mar 2022: ¥687M¥687MFY ending Mar 2023: ¥3.89B¥3.89BFY ending Mar 2024: ¥12.2B¥12.2BFY ending Mar 2025: ¥15.4B¥15.4BFY ending Mar 2026: ¥17.4B¥17.4BFY22FY23FY24FY25FY26
Operating margin12.5%
FY ending Mar 2022: 0.8%0.8%FY ending Mar 2023: 3.9%3.9%FY ending Mar 2024: 10.5%10.5%FY ending Mar 2025: 11.7%11.7%FY ending Mar 2026: 12.5%12.5%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin7.9%
Asset turnover0.92×
ROA7.3%
ROA7.3%
Financial leverage2.18×
ROE15.8%

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

Net margin7.9%
2022: 0.3%0.3%2023: 3.9%3.9%2024: 8.5%8.5%2025: 10.5%10.5%2026: 7.9%7.9%2223242526
Asset turnover0.92×
2022: 0.81×0.81×2023: 0.92×0.92×2024: 0.95×0.95×2025: 0.95×0.95×2026: 0.92×0.92×2223242526
ROA7.3%
2022: 0.2%0.2%2023: 3.5%3.5%2024: 8.1%8.1%2025: 9.9%9.9%2026: 7.3%7.3%2223242526
Financial leverage2.18×
2022: 2.21×2.21×2023: 2.27×2.27×2024: 2.36×2.36×2025: 2.29×2.29×2026: 2.18×2.18×2223242526
ROE15.8%
2022: 0.5%0.5%2023: 8.0%8.0%2024: 19.1%19.1%2025: 22.7%22.7%2026: 15.8%15.8%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20220.3%0.81×0.2%2.21×0.5%
20233.9%0.92×3.5%2.27×8.0%
20248.5%0.95×8.1%2.36×19.1%
202510.5%0.95×9.9%2.29×22.7%
20267.9%0.92×7.3%2.18×15.8%

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 ÷ revenue16.2%
2021: 29.7%29.7%2022: 28.5%28.5%2023: 24.9%24.9%2024: 21.5%21.5%2025: 18.8%18.8%2026: 16.2%16.2%212223242526
PPE ÷ total assets14.4%
2021: 23.2%23.2%2022: 23.0%23.0%2023: 22.0%22.0%2024: 18.9%18.9%2025: 17.0%17.0%2026: 14.4%14.4%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¥1.84B
2021: ¥1.67B¥1.67B2022: ¥1.56B¥1.56B2023: ¥1.57B¥1.57B2024: ¥1.66B¥1.66B2025: ¥1.79B¥1.79B2026: ¥1.84B¥1.84B212223242526
R&D / revenue1.3%
2021: 2.0%2.0%2022: 1.9%1.9%2023: 1.6%1.6%2024: 1.4%1.4%2025: 1.4%1.4%2026: 1.3%1.3%212223242526
Receivable days—
2021: 124d124d2022: 117d117d2023: 116d116d2024: 116d116d212223242526
Payable days61d
2021: 60d60d2022: 58d58d2023: 56d56d2024: 56d56d2025: 60d60d2026: 61d61d212223242526

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
Revenue84,29599,481116,174131,152139,364
Cost of revenue64,63174,75080,83088,55392,584
Gross profit19,66424,73035,34342,59946,780
SG&A18,97620,84323,15827,21729,342
Operating income6873,88712,18515,38117,437
Pretax income1,6155,22812,60118,22817,899
Income tax1,1951,1461,9982,7035,223
Net income attributable to owners2573,8489,89213,72110,995
Operating margin0.8%3.9%10.5%11.7%12.5%

Balance sheet (reported items)

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

Assets

Cash 24%
Property, plant and equipment 15%
0%
8%
Other assets 53%

Funding

Trade payables 10%
Other liabilities 26%
Equity 64%

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¥17.1B¥18.2B¥27.7B¥32.2B¥38.1B
Total assets¥104.6B¥112.7B¥132.4B¥144.8B¥157.6B
Net assets¥60B¥63.1B¥76.2B¥89.4B¥101.8B
Share capital¥11.6B¥11.6B¥11.6B¥11.6B¥11.6B
Trade receivables¥27.1B¥31.7B¥36.8B——
Property, plant and equipment¥24.1B¥24.8B¥25B¥24.6B¥22.6B
Intangible assets excluding goodwill¥359M¥332M¥331M¥440M¥413M
Investment securities¥7.73B¥5.32B¥8.04B¥8.23B¥12.9B
Current assets¥71.5B¥81.1B¥97.4B¥108.4B¥117.7B
Current liabilities¥34.7B¥42.2B¥47.5B¥46.3B¥43.5B
Trade payables¥10.3B¥11.4B¥12.4B¥14.6B¥15.4B
Short-term borrowings¥17B¥20.4B¥22B¥17.1B¥13.7B
Long-term borrowings¥2.73B¥1B¥1.7B¥1B¥2.74B
Total liabilities¥44.6B¥49.6B¥56.2B¥55.3B¥55.8B
Non-controlling interests¥4.75B¥4.95B¥5.66B¥5.9B¥6.31B
Equity attributable to owners of parent¥47.4B¥48.2B¥55.6B¥65.5B¥73.5B
Retained earnings¥44.2B¥41.5B¥48.9B¥58.8B¥66.7B
Treasury stock-¥10B-¥4.92B-¥4.9B-¥4.89B-¥4.86B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第129期(2025/04/01－2026/03/31)

    ID S100YGSJ2026-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第128期(2024/04/01－2025/03/31)

    ID S100W4G32025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第127期(2023/04/01－2024/03/31)

    ID S100TSSK2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第126期(2022/04/01－2023/03/31)

    ID S100R1BQ2023-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第125期(令和3年4月1日－令和4年3月31日)

    ID S100OCZZ2022-06-23Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第124期(令和2年4月1日－令和3年3月31日)

    ID S100N55H2021-12-27Open

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

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