Fuji ElectricFUJI ELECTRIC CO., LTD.6504東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

Fuji Electric revenue and profit

Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed +9.3% from the prior year, operating profit +16.1%.

Five-year trend

Revenue¥1.23T
FY ending Mar 2022: ¥910.2B¥910.2BFY ending Mar 2023: ¥1.01T¥1.01TFY ending Mar 2024: ¥1.1T¥1.1TFY ending Mar 2025: ¥1.12T¥1.12TFY ending Mar 2026: ¥1.23T¥1.23TFY22FY23FY24FY25FY26
Operating income¥136.6B
FY ending Mar 2022: ¥74.8B¥74.8BFY ending Mar 2023: ¥88.9B¥88.9BFY ending Mar 2024: ¥106.1B¥106.1BFY ending Mar 2025: ¥117.6B¥117.6BFY ending Mar 2026: ¥136.6B¥136.6BFY22FY23FY24FY25FY26
Operating margin11.1%
FY ending Mar 2022: 8.2%8.2%FY ending Mar 2023: 8.8%8.8%FY ending Mar 2024: 9.6%9.6%FY ending Mar 2025: 10.5%10.5%FY ending Mar 2026: 11.1%11.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin8.0%
Asset turnover0.90×
ROA7.2%
ROA7.2%
Financial leverage2.13×
ROE15.4%

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

Net margin8.0%
2022: 6.4%6.4%2023: 6.1%6.1%2024: 6.8%6.8%2025: 8.2%8.2%2026: 8.0%8.0%2223242526
Asset turnover0.90×
2022: 0.81×0.81×2023: 0.88×0.88×2024: 0.90×0.90×2025: 0.87×0.87×2026: 0.90×0.90×2223242526
ROA7.2%
2022: 5.3%5.3%2023: 5.3%5.3%2024: 6.1%6.1%2025: 7.1%7.1%2026: 7.2%7.2%2223242526
Financial leverage2.13×
2022: 2.76×2.76×2023: 2.68×2.68×2024: 2.55×2.55×2025: 2.33×2.33×2026: 2.13×2.13×2223242526
ROE15.4%
2022: 14.5%14.5%2023: 14.3%14.3%2024: 15.7%15.7%2025: 16.6%16.6%2026: 15.4%15.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20226.4%0.81×5.3%2.76×14.5%
20236.1%0.88×5.3%2.68×14.3%
20246.8%0.90×6.1%2.55×15.7%
20258.2%0.87×7.1%2.33×16.6%
20268.0%0.90×7.2%2.13×15.4%

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 ÷ revenue28.4%
2021: 23.9%23.9%2022: 25.7%25.7%2023: 28.1%28.1%2024: 28.2%28.2%2025: 30.9%30.9%2026: 28.4%28.4%212223242526
PPE ÷ total assets24.8%
2021: 19.9%19.9%2022: 20.9%20.9%2023: 24.0%24.0%2024: 24.5%24.5%2025: 26.5%26.5%2026: 24.8%24.8%212223242526
Goodwill ÷ parent equity0.4%
2021: 1.8%1.8%2022: 1.5%1.5%2023: 1.1%1.1%2024: 1.0%1.0%2025: 0.6%0.6%2026: 0.4%0.4%212223242526
Goodwill balance¥2.8B
2021: ¥6.34B¥6.34B2022: ¥5.97B¥5.97B2023: ¥5.18B¥5.18B2024: ¥4.85B¥4.85B2025: ¥3.77B¥3.77B2026: ¥2.8B¥2.8B212223242526

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¥38.9B
2021: ¥33.6B¥33.6B2022: ¥33.8B¥33.8B2023: ¥36.2B¥36.2B2024: ¥36.1B¥36.1B2025: ¥37.8B¥37.8B2026: ¥38.9B¥38.9B212223242526
R&D / revenue3.2%
2021: 3.8%3.8%2022: 3.7%3.7%2023: 3.6%3.6%2024: 3.3%3.3%2025: 3.4%3.4%2026: 3.2%3.2%212223242526
Receivable days—
2021: 133d133d212223242526
Payable days79d
2021: 93d93d2022: 95d95d2023: 100d100d2024: 95d95d2025: 87d87d2026: 79d79d212223242526

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
Revenue910,2261,009,4471,103,2141,123,4071,227,595
Cost of revenue657,789732,528799,925805,505883,594
Gross profit252,436276,918303,289317,901344,001
SG&A177,601188,036197,222200,254207,380
Operating income74,83588,882106,066117,646136,620
Pretax income88,48795,746114,032133,661140,091
Income tax23,93127,11231,96136,98038,670
Net income attributable to owners58,66061,34875,35392,23998,030
Operating margin8.2%8.8%9.6%10.5%11.1%

Balance sheet (reported items)

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

Assets

5%
Property, plant and equipment 25%
3%
8%
Other assets 59%

Funding

Trade payables 13%
5%
Other liabilities 22%
Equity 60%
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¥91.3B¥84.2B¥65.5B¥62.7B¥69.9B
Total assets¥1.12T¥1.18T¥1.27T¥1.31T¥1.41T
Net assets¥523.7B¥572.1B¥661.5B¥730.7B¥842.9B
Share capital¥47.6B¥47.6B¥47.6B¥47.6B¥47.6B
Property, plant and equipment¥233.7B¥283.9B¥311.5B¥347.1B¥348.9B
Intangible assets excluding goodwill¥22.5B¥24B¥25.5B¥30.3B¥37.7B
Goodwill¥5.97B¥5.18B¥4.85B¥3.77B¥2.8B
Investment securities¥126.3B¥108.5B¥118.4B¥108.7B¥120.7B
Current assets¥682B¥713.6B¥763.1B¥766.7B¥831.8B
Current liabilities¥387B¥446.8B¥475.3B¥431.5B¥434B
Trade payables¥171.7B¥201.6B¥207.4B¥192.8B¥190.9B
Short-term borrowings¥45B¥46.9B¥40.3B¥10.7B¥21.8B
Long-term borrowings¥66.3B¥28.6B¥15.1B¥30.1B¥15.1B
Bonds¥35B¥20B¥20B¥30B¥30B
Interest-bearing debt¥146.3Bderived¥95.5Bderived¥75.4Bderived¥70.8Bderived¥66.9Bderived
Total liabilities¥593.4B¥609.5B¥609.7B¥581.5B¥563.7B
Non-controlling interests¥50.8B¥55B¥59B¥38.9B¥42.8B
Equity attributable to owners of parent¥405.5B¥451.1B¥509.3B¥601.8B¥673.6B
Retained earnings¥319.3B¥364.9B¥423.1B¥493.9B¥565.9B
Treasury stock-¥7.36B-¥7.37B-¥7.4B-¥4.27B-¥3.7B

Sources

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

    有価証券報告書-第150期(2025/04/01-2026/03/31)

    ID S100YEEB2026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第149期(2024/04/01-2025/03/31)

    ID S100W1782025-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第148期(2023/04/01-2024/03/31)

    ID S100TQ722024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第147期(2022/04/01-2023/03/31)

    ID S100R4BH2023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第146期(令和3年4月1日-令和4年3月31日)

    ID S100OI7U2022-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第145期(令和2年4月1日-令和3年3月31日)

    ID S100LP0P2021-06-25Open

Extracted from XBRL: 55 / Derived from other figures: 2

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