Encourage TechnologiesEncourage Technologies Co.,Ltd.3682東証スタンダード情報・通信業FY ending Mar 2026, non-consolidated, J-GAAP

Encourage Technologies revenue and profit

Out of every ¥100 of sales, about ¥12 is left as operating profit. Revenue changed +3.3% from the prior year, operating profit +1.7%.

Five-year trend

Revenue¥2.58B
FY ending Mar 2022: ¥2.07B¥2.07BFY ending Mar 2023: ¥2.12B¥2.12BFY ending Mar 2024: ¥2.5B¥2.5BFY ending Mar 2025: ¥2.5B¥2.5BFY ending Mar 2026: ¥2.58B¥2.58BFY22FY23FY24FY25FY26
Operating income¥303M
FY ending Mar 2022: ¥348.4M¥348.4MFY ending Mar 2023: ¥243.5M¥243.5MFY ending Mar 2024: ¥318.9M¥318.9MFY ending Mar 2025: ¥298M¥298MFY ending Mar 2026: ¥303M¥303MFY22FY23FY24FY25FY26
Operating margin11.7%
FY ending Mar 2022: 16.8%16.8%FY ending Mar 2023: 11.5%11.5%FY ending Mar 2024: 12.8%12.8%FY ending Mar 2025: 11.9%11.9%FY ending Mar 2026: 11.7%11.7%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin8.2%
Asset turnover0.54×
ROA4.4%
ROA4.4%
Financial leverage1.36×
ROE6.0%

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

Net margin8.2%
2022: 12.0%12.0%2023: 8.2%8.2%2024: 8.8%8.8%2025: 8.8%8.8%2026: 8.2%8.2%2223242526
Asset turnover0.54×
2022: 0.47×0.47×2023: 0.49×0.49×2024: 0.55×0.55×2025: 0.52×0.52×2026: 0.54×0.54×2223242526
ROA4.4%
2022: 5.6%5.6%2023: 4.0%4.0%2024: 4.8%4.8%2025: 4.6%4.6%2026: 4.4%4.4%2223242526
Financial leverage1.36×
2022: 1.35×1.35×2023: 1.31×1.31×2024: 1.35×1.35×2025: 1.38×1.38×2026: 1.36×1.36×2223242526
ROE6.0%
2022: 7.6%7.6%2023: 5.3%5.3%2024: 6.5%6.5%2025: 6.4%6.4%2026: 6.0%6.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202212.0%0.47×5.6%1.35×7.6%
20238.2%0.49×4.0%1.31×5.3%
20248.8%0.55×4.8%1.35×6.5%
20258.8%0.52×4.6%1.38×6.4%
20268.2%0.54×4.4%1.36×6.0%

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 ÷ revenue2.2%
2021: 2.4%2.4%2022: 1.9%1.9%2023: 1.5%1.5%2024: 1.5%1.5%2025: 1.4%1.4%2026: 2.2%2.2%212223242526
PPE ÷ total assets1.1%
2021: 1.1%1.1%2022: 0.9%0.9%2023: 0.8%0.8%2024: 0.8%0.8%2025: 0.8%0.8%2026: 1.1%1.1%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¥37.7M
2021: ¥290M¥290M2022: ¥154.2M¥154.2M2023: ¥383.6M¥383.6M2024: ¥38.8M¥38.8M2025: ¥89.4M¥89.4M2026: ¥37.7M¥37.7M212223242526
R&D / revenue1.5%
2021: 16.1%16.1%2022: 7.5%7.5%2023: 18.1%18.1%2024: 1.6%1.6%2025: 3.6%3.6%2026: 1.5%1.5%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
Revenue2,0692,1202,4982,5022,585
Cost of revenue7737211,2281,2131,285
Gross profit1,2951,3991,2701,2891,299
SG&A9471,156951991996
Operating income348243319298303
Pretax income351239321303316
Income tax1026510283103
Net income attributable to owners249175219220213
Operating margin16.8%11.5%12.8%11.9%11.7%

Balance sheet (reported items)

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

Assets

Cash 43%
1%
4%
1%
Other assets 51%

Funding

Other liabilities 28%
Equity 72%

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¥2.54B¥2.19B¥2.56B¥2.51B¥2.15B
Total assets¥4.44B¥4.21B¥4.88B¥4.66B¥4.98B
Net assets¥3.29B¥3.34B¥3.43B¥3.51B¥3.57B
Share capital¥507.4M¥507.4M¥507.4M¥507.4M¥507.4M
Property, plant and equipment¥38.9M¥32M¥37.8M¥36.1M¥57.1M
Intangible assets excluding goodwill¥122.4M¥251.4M¥238.2M¥193.4M¥180.4M
Investment securities¥54.3M¥42.1M¥41.2M¥41.8M¥52.7M
Current assets¥3.95B¥3.65B¥4.22B¥4.06B¥4.36B
Current liabilities¥1.12B¥832.9M¥1.42B¥1.11B¥1.36B
Total liabilities¥1.15B¥866.1M¥1.46B¥1.15B¥1.41B
Equity attributable to owners of parent¥3.28B¥3.33B¥3.42B¥3.51B¥3.55B
Retained earnings¥2.5B¥2.56B¥2.64B¥2.73B¥2.77B
Treasury stock-¥218M-¥218M-¥218M-¥217.1M-¥215.7M

Sources

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

    有価証券報告書-第24期(2025/04/01-2026/03/31)

    ID S100YD542026-06-18Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第23期(2024/04/01-2025/03/31)

    ID S100WE3N2025-07-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第22期(2023/04/01-2024/03/31)

    ID S100TPP92024-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第21期(2022/04/01-2023/03/31)

    ID S100R2HA2023-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第20期(令和3年4月1日-令和4年3月31日)

    ID S100OFO72022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第19期(令和2年4月1日-令和3年3月31日)

    ID S100LQ152021-06-25Open

Extracted from XBRL: 44 / Derived from other figures: 1

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