Double StandardDouble Standard Inc.3925東証プライム情報・通信業FY ending Mar 2026, consolidated, J-GAAP

Double Standard revenue and profit

Out of every ¥100 of sales, about ¥25 is left as operating profit. Revenue changed -12.4% from the prior year, operating profit -33.9%.

Five-year trend

Revenue¥7.01B
FY ending Mar 2022: ¥7.08B¥7.08BFY ending Mar 2023: ¥6.91B¥6.91BFY ending Mar 2024: ¥7.15B¥7.15BFY ending Mar 2025: ¥8B¥8BFY ending Mar 2026: ¥7.01B¥7.01BFY22FY23FY24FY25FY26
Operating income¥1.72B
FY ending Mar 2022: ¥1.76B¥1.76BFY ending Mar 2023: ¥2.12B¥2.12BFY ending Mar 2024: ¥2.31B¥2.31BFY ending Mar 2025: ¥2.61B¥2.61BFY ending Mar 2026: ¥1.72B¥1.72BFY22FY23FY24FY25FY26
Operating margin24.6%
FY ending Mar 2022: 24.8%24.8%FY ending Mar 2023: 30.7%30.7%FY ending Mar 2024: 32.3%32.3%FY ending Mar 2025: 32.6%32.6%FY ending Mar 2026: 24.6%24.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin15.8%
Asset turnover0.94×
ROA14.9%
ROA14.9%
Financial leverage1.14×
ROE17.0%

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

Net margin15.8%
2022: 15.3%15.3%2023: 23.5%23.5%2024: 23.1%23.1%2025: 22.3%22.3%2026: 15.8%15.8%2223242526
Asset turnover0.94×
2022: 1.59×1.59×2023: 1.37×1.37×2024: 1.17×1.17×2025: 1.13×1.13×2026: 0.94×0.94×2223242526
ROA14.9%
2022: 24.3%24.3%2023: 32.3%32.3%2024: 27.1%27.1%2025: 25.3%25.3%2026: 14.9%14.9%2223242526
Financial leverage1.14×
2022: 1.28×1.28×2023: 1.25×1.25×2024: 1.22×1.22×2025: 1.19×1.19×2026: 1.14×1.14×2223242526
ROE17.0%
2022: 31.0%31.0%2023: 40.3%40.3%2024: 33.0%33.0%2025: 30.1%30.1%2026: 17.0%17.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202215.3%1.59×24.3%1.28×31.0%
202323.5%1.37×32.3%1.25×40.3%
202423.1%1.17×27.1%1.22×33.0%
202522.3%1.13×25.3%1.19×30.1%
202615.8%0.94×14.9%1.14×17.0%

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 ÷ revenue7.8%
2021: 0.8%0.8%2022: 1.2%1.2%2023: 1.1%1.1%2024: 5.9%5.9%2025: 7.9%7.9%2026: 7.8%7.8%212223242526
PPE ÷ total assets7.4%
2021: 1.1%1.1%2022: 1.9%1.9%2023: 1.4%1.4%2024: 6.4%6.4%2025: 8.4%8.4%2026: 7.4%7.4%212223242526
Goodwill ÷ parent equity3.4%
2023: 7.2%7.2%2024: 5.4%5.4%2025: 4.1%4.1%2026: 3.4%3.4%212223242526
Goodwill balance¥226.5M
2023: ¥327.2M¥327.2M2024: ¥293.6M¥293.6M2025: ¥260.1M¥260.1M2026: ¥226.5M¥226.5M212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue7,0786,9117,1488,0017,011
Cost of revenue4,5293,9503,8284,1254,131
Gross profit2,5492,9613,3193,8752,880
SG&A7918401,0101,2691,158
Operating income1,7582,1212,3092,6061,722
Pretax income1,5822,3162,4302,6141,624
Income tax499663754829516
Net income attributable to owners1,0831,6261,6551,7821,108
Operating margin24.8%30.7%32.3%32.6%24.6%

Balance sheet (reported items)

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

Assets

Cash 72%
7%
7%
Other assets 14%

Funding

Other liabilities 10%
Equity 90%

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¥3.14B¥4.16B¥4.46B¥5.35B¥5.29B
Total assets¥4.46B¥5.61B¥6.58B¥7.53B¥7.38B
Net assets¥3.53B¥4.66B¥5.57B¥6.38B¥6.68B
Share capital¥263.8M¥263.8M¥263.8M¥263.8M¥263.8M
Property, plant and equipment¥83.7M¥77.4M¥418.5M¥629M¥548.6M
Intangible assets excluding goodwill¥47.5M¥389.9M¥386.6M¥334.5M¥293.2M
Goodwill—¥327.2M¥293.6M¥260.1M¥226.5M
Investment securities¥249.6M¥0¥100M¥0¥0
Current assets¥3.95B¥5B¥5.53B¥6.4B¥6.39B
Current liabilities¥922.5M¥907.5M¥975.6M¥1.1B¥649.3M
Total liabilities¥922.5M¥949M¥1.02B¥1.14B¥703.7M
Non-controlling interests—¥92.6M¥114M——
Equity attributable to owners of parent¥3.49B¥4.57B¥5.45B¥6.38B¥6.68B
Retained earnings¥2.97B¥4.06B¥5.03B¥6.07B¥6.37B
Treasury stock-¥2M-¥2.1M-¥95.2M-¥95.2M-¥95.2M

Sources

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

    有価証券報告書-第14期(2025/04/01-2026/03/31)

    ID S100YN9T2026-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第13期(2024/04/01-2025/03/31)

    ID S100W6AS2025-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第12期(2023/04/01-2024/03/31)

    ID S100TR972024-06-28Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第11期(2022/04/01-2023/03/31)

    ID S100S1SA2023-10-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第10期(令和3年4月1日-令和4年3月31日)

    ID S100OJ3M2022-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第9期(令和2年4月1日-令和3年3月31日)

    ID S100LSNT2021-06-30Open

Extracted from XBRL: 46 / Derived from other figures: 1

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