First BakingFIRST BAKING CO.,LTD.2215東証スタンダード食料品FY ending Dec 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥2 is left as operating profit. Revenue changed +6.5% from the prior year, operating profit -22.8%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | — | —× | -4.1% | —× | — |
| 2022 | — | —× | -6.5% | —× | — |
| 2023 | 1.8% | 1.52× | 2.7% | 2.94× | 8.0% |
| 2024 | 7.6% | 1.62× | 12.3% | 2.33× | 28.6% |
| 2025 | 1.1% | 1.80× | 2.0% | 1.92× | 3.8% |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
Track R&D investment and how long operating capital remains tied up before sales turn into cash.
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.
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 23,864 | 24,552 | 26,442 | 27,183 | 28,957 |
| Cost of revenue | 17,602 | 18,695 | 19,405 | 19,726 | 21,463 |
| Gross profit | 6,261 | 5,856 | 7,037 | 7,456 | 7,493 |
| SG&A | 6,894 | 6,403 | 6,439 | 6,851 | 7,027 |
| Operating income | -633 | -547 | 597 | 604 | 466 |
| Pretax income | -699 | -1,105 | 515 | 1,823 | 446 |
| Income tax | 39 | 39 | 41 | -231 | 126 |
| Net income attributable to owners | -739 | -1,145 | 474 | 2,055 | 320 |
| Operating margin | -2.7% | -2.2% | 2.3% | 2.2% | 1.6% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥1.32B | ¥2.03B | ¥2.92B | ¥3.93B | ¥2.48B |
| Total assets | ¥18B | ¥17.1B | ¥17.7B | ¥15.8B | ¥16.3B |
| Net assets | ¥7.49B | ¥5.84B | ¥6.21B | ¥8.05B | ¥8.55B |
| Share capital | ¥3.31B | ¥3.31B | ¥3.31B | ¥3.31B | ¥3.31B |
| Trade receivables | ¥3.46B | ¥3.62B | ¥3.62B | ¥3.49B | ¥3.81B |
| Property, plant and equipment | ¥7.83B | ¥10.5B | ¥10.2B | ¥7.34B | ¥8.25B |
| Intangible assets excluding goodwill | ¥66M | ¥52M | ¥52M | ¥53M | ¥46M |
| Investment securities | ¥1.21B | ¥30M | ¥16M | ¥16M | ¥16M |
| Current assets | ¥5.69B | ¥6.45B | ¥7.38B | ¥8.13B | ¥7.86B |
| Current liabilities | ¥6.94B | ¥7.65B | ¥7.63B | ¥4.46B | ¥4.25B |
| Trade payables | ¥971M | ¥1.75B | ¥1.78B | ¥1.83B | ¥2.13B |
| Short-term borrowings | ¥4.11B | ¥3.4B | ¥3.8B | — | — |
| Bonds | ¥86M | ¥42M | ¥14M | — | — |
| Total liabilities | ¥10.5B | ¥11.2B | ¥11.5B | ¥7.73B | ¥7.79B |
| Equity attributable to owners of parent | ¥6.82B | ¥5.68B | ¥6.15B | ¥8.21B | ¥8.53B |
| Retained earnings | -¥132M | -¥1.28B | -¥803M | ¥1.25B | ¥1.57B |
| Treasury stock | -¥9M | -¥9M | -¥9M | -¥9M | -¥9M |
EDINET (FSA Japan)
有価証券報告書－第84期(2025/01/01－2025/12/31)
EDINET (FSA Japan)
有価証券報告書－第83期(2024/01/01－2024/12/31)
EDINET (FSA Japan)
有価証券報告書－第82期(2023/01/01－2023/12/31)
EDINET (FSA Japan)
有価証券報告書－第81期(2022/01/01－2022/12/31)
EDINET (FSA Japan)
有価証券報告書－第80期(令和3年1月1日－令和3年12月31日)
EDINET (FSA Japan)
有価証券報告書－第79期(令和2年1月1日－令和2年12月31日)
Extracted from XBRL: 44 / Derived from other figures: 1
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