Frontier ManagementFrontier Management Inc.7038東証プライムサービス業FY ending Dec 2025, consolidated, J-GAAP
It lost about ¥3 for every ¥100 of sales at the operating level. Revenue changed +45.6% from the prior year.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | 5.9% | 1.50× | 8.9% | 1.59× | 14.1% |
| 2022 | 7.0% | 1.67× | 11.7% | 1.78× | 20.9% |
| 2023 | 7.8% | 1.21× | 9.4% | 2.50× | 23.6% |
| 2024 | — | —× | -5.6% | —× | — |
| 2025 | — | —× | -6.8% | —× | — |
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 | 5,742 | 7,916 | 10,025 | 9,265 | 13,490 |
| Cost of revenue | 2,248 | 3,230 | 4,498 | 5,005 | 8,475 |
| Gross profit | 3,494 | 4,686 | 5,527 | 4,260 | 5,015 |
| SG&A | 2,992 | 3,777 | 4,276 | 4,892 | 5,350 |
| Operating income | 501 | 908 | 1,252 | -632 | -335 |
| Pretax income | 515 | 868 | 1,240 | -711 | -966 |
| Income tax | 176 | 302 | 448 | -4 | 192 |
| Net income attributable to owners | 339 | 557 | 781 | -695 | -1,107 |
| Operating margin | 8.7% | 11.5% | 12.5% | -6.8% | -2.5% |
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 | ¥1.78B | ¥3.2B | ¥5.84B | ¥7.56B | ¥3.92B |
| Total assets | ¥3.82B | ¥5.66B | ¥10.9B | ¥14.2B | ¥18.4B |
| Net assets | ¥2.45B | ¥3.02B | ¥6.82B | ¥10.7B | ¥9.94B |
| Share capital | ¥178.7M | ¥210.1M | ¥374.7M | ¥386.2M | ¥395M |
| Trade receivables | ¥1.07B | — | — | — | — |
| Property, plant and equipment | ¥208.3M | ¥313.7M | ¥282.3M | ¥223.4M | ¥935.6M |
| Intangible assets excluding goodwill | ¥11.4M | ¥294.5M | ¥259.8M | ¥244.1M | ¥3.91B |
| Goodwill | — | ¥265.1M | ¥235.7M | ¥206.2M | ¥3.08B |
| Investment securities | ¥56.8M | ¥3.6M | ¥296K | ¥296K | ¥296K |
| Current assets | ¥3B | ¥4.28B | ¥8.16B | ¥11.5B | ¥11.4B |
| Current liabilities | ¥1.28B | ¥1.87B | ¥2.57B | ¥2.12B | ¥3.78B |
| Short-term borrowings | — | — | — | — | ¥800M |
| Long-term borrowings | — | ¥639.3M | ¥1.35B | ¥1.15B | ¥4.05B |
| Total liabilities | ¥1.37B | ¥2.64B | ¥4.05B | ¥3.42B | ¥8.49B |
| Non-controlling interests | — | ¥54M | ¥3.07B | ¥8.05B | ¥8.2B |
| Equity attributable to owners of parent | ¥2.4B | ¥2.92B | ¥3.7B | ¥2.55B | ¥1.46B |
| Retained earnings | ¥1.7B | ¥2.14B | ¥2.6B | ¥1.42B | ¥317.5M |
| Treasury stock | -¥36.6M | -¥8.2M | -¥8.4M | -¥8.4M | -¥8.4M |
EDINET (FSA Japan)
訂正有価証券報告書－第19期(2025/01/01－2025/12/31)
EDINET (FSA Japan)
有価証券報告書－第18期(2024/01/01－2024/12/31)
EDINET (FSA Japan)
訂正有価証券報告書－第17期(2023/01/01－2023/12/31)
EDINET (FSA Japan)
有価証券報告書－第16期(2022/01/01－2022/12/31)
EDINET (FSA Japan)
有価証券報告書－第15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14期(令和2年1月1日－令和2年12月31日)
Extracted from XBRL: 47 / Derived from other figures: 1
Spotted an error? Report it (corrections keep the original record)
Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.