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Daio PaperDaio Paper Corporation3880東証プライムパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Daio Paper revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed -0.3% from the prior year, operating profit +145.0%.

Five-year trend

Revenue¥666.8B
FY ending Mar 2022: ¥612.3B¥612.3BFY ending Mar 2023: ¥646.2B¥646.2BFY ending Mar 2024: ¥671.7B¥671.7BFY ending Mar 2025: ¥668.9B¥668.9BFY ending Mar 2026: ¥666.8B¥666.8BFY22FY23FY24FY25FY26
Operating income¥24B
FY ending Mar 2022: ¥37.6B¥37.6BFY ending Mar 2023: -¥21.4B-¥21.4BFY ending Mar 2024: ¥14.4B¥14.4BFY ending Mar 2025: ¥9.81B¥9.81BFY ending Mar 2026: ¥24B¥24BFY22FY23FY24FY25FY26
Operating margin3.6%
FY ending Mar 2022: 6.1%6.1%FY ending Mar 2023: -3.3%-3.3%FY ending Mar 2024: 2.1%2.1%FY ending Mar 2025: 1.5%1.5%FY ending Mar 2026: 3.6%3.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin1.3%
Asset turnover0.77×
ROA1.0%
ROA1.0%
Financial leverage4.27×
ROE4.4%

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

Net margin1.3%
2022: 3.9%3.9%2024: 0.7%0.7%2026: 1.3%1.3%2223242526
Asset turnover0.77×
2022: 0.73×0.73×2024: 0.72×0.72×2026: 0.77×0.77×2223242526
ROA1.0%
2022: 2.8%2.8%2023: -3.9%-3.9%2024: 0.5%0.5%2025: -1.2%-1.2%2026: 1.0%1.0%2223242526
Financial leverage4.27×
2022: 3.22×3.22×2024: 4.17×4.17×2026: 4.27×4.27×2223242526
ROE4.4%
2022: 9.1%9.1%2024: 2.0%2.0%2026: 4.4%4.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20223.9%0.73×2.8%3.22×9.1%
2023——×-3.9%—×—
20240.7%0.72×0.5%4.17×2.0%
2025——×-1.2%—×—
20261.3%0.77×1.0%4.27×4.4%

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 ÷ revenue57.8%
2021: 69.6%69.6%2022: 68.8%68.8%2023: 66.9%66.9%2024: 63.8%63.8%2025: 61.1%61.1%2026: 57.8%57.8%212223242526
PPE ÷ total assets45.1%
2021: 46.1%46.1%2022: 50.1%50.1%2023: 46.8%46.8%2024: 45.6%45.6%2025: 46.1%46.1%2026: 45.1%45.1%212223242526
Goodwill ÷ parent equity18.5%
2021: 23.1%23.1%2022: 19.3%19.3%2023: 20.6%20.6%2024: 20.2%20.2%2025: 18.7%18.7%2026: 18.5%18.5%212223242526
Goodwill balance¥37.1B
2021: ¥55.9B¥55.9B2022: ¥50.5B¥50.5B2023: ¥45.8B¥45.8B2024: ¥45.3B¥45.3B2025: ¥38.7B¥38.7B2026: ¥37.1B¥37.1B212223242526

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¥3.94B
2021: ¥3.11B¥3.11B2022: ¥3.55B¥3.55B2023: ¥3.53B¥3.53B2024: ¥3.34B¥3.34B2025: ¥3.75B¥3.75B2026: ¥3.94B¥3.94B212223242526
R&D / revenue0.6%
2021: 0.6%0.6%2022: 0.6%0.6%2023: 0.5%0.5%2024: 0.5%0.5%2025: 0.6%0.6%2026: 0.6%0.6%212223242526
Receivable days—
2021: 65d65d212223242526
Payable days51d
2021: 59d59d2022: 61d61d2023: 60d60d2024: 59d59d2025: 56d56d2026: 51d51d212223242526

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
Revenue612,314646,213671,688668,912666,770
Cost of revenue450,640536,012528,471524,895507,880
Gross profit161,674110,200143,217144,016158,890
SG&A124,105131,641128,849134,208134,857
Operating income37,569-21,44114,3679,80724,032
Pretax income36,588-39,20111,018-1,97721,321
Income tax12,717-4,2634,7827,72010,643
Net income attributable to owners23,721-34,7054,472-11,1978,886
Operating margin6.1%-3.3%2.1%1.5%3.6%

Balance sheet (reported items)

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

Assets

Cash 11%
Property, plant and equipment 45%
Intangibles and goodwill 12%
6%
Other assets 26%

Funding

8%
Interest-bearing debt 37%
Other liabilities 27%
Equity 28%
0%

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¥88.9B¥102.4B¥123.8B¥112.9B¥95.7B
Total assets¥840.4B¥923.5B¥939.7B¥886.1B¥853.9B
Net assets¥266.7B¥244.7B¥260.1B¥249.7B¥242.8B
Share capital¥53.9B¥53.9B¥53.9B¥53.9B¥53.9B
Property, plant and equipment¥421.2B¥432.1B¥428.5B¥408.7B¥385.3B
Intangible assets excluding goodwill¥82B¥84.5B¥81B¥68.6B¥63.9B
Goodwill¥50.5B¥45.8B¥45.3B¥38.7B¥37.1B
Investment securities¥21.9B¥21B¥23.6B¥21.4B¥48.4B
Current assets¥291.3B¥355.1B¥376.2B¥360.9B¥334.9B
Current liabilities¥238.3B¥252.8B¥281.2B¥266.7B¥271.4B
Trade payables¥75.4B¥88.2B¥84.8B¥79.9B¥70.8B
Short-term borrowings¥13.7B¥13.7B¥15.2B¥13.8B¥23.9B
Long-term borrowings¥239.3B¥324B¥308.4B¥298.1B¥268.7B
Bonds¥45B¥45.1B¥35B¥20B¥20B
Interest-bearing debt¥298.1Bderived¥382.8Bderived¥358.6Bderived¥331.9Bderived¥312.6Bderived
Total liabilities¥573.7B¥678.9B¥679.7B¥636.4B¥611.2B
Non-controlling interests¥7.61B¥9.55B¥12.4B¥13B¥15.8B
Equity attributable to owners of parent¥261.3B¥222.9B¥224.2B¥207.1B¥200.4B
Retained earnings¥156.4B¥117.5B¥118.5B¥101.3B¥108.2B
Treasury stock-¥4.12B-¥3.6B-¥3.28B-¥3.21B-¥16.8B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第115期(2025/04/01－2026/03/31)

    ID S100YJ8D2026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第114期(2024/04/01－2025/03/31)

    ID S100W7JF2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第113期(2023/04/01－2024/03/31)

    ID S100TSSV2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(2022/04/01－2023/03/31)

    ID S100R8GL2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第111期(令和3年4月1日－令和4年3月31日)

    ID S100OKAN2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第110期(令和2年4月1日－令和3年3月31日)

    ID S100LULS2021-06-29Open

Extracted from XBRL: 54 / Derived from other figures: 2

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