Fuso Pharmaceutical IndustriesFuso Pharmaceutical Industries,Ltd.4538東証プライム医薬品FY ending Mar 2026, non-consolidated, J-GAAP

Fuso Pharmaceutical Industries revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed +2.9% from the prior year, operating profit -36.1%.

Five-year trend

Revenue¥62.3B
FY ending Mar 2022: ¥49.6B¥49.6BFY ending Mar 2023: ¥51B¥51BFY ending Mar 2024: ¥55.4B¥55.4BFY ending Mar 2025: ¥60.6B¥60.6BFY ending Mar 2026: ¥62.3B¥62.3BFY22FY23FY24FY25FY26
Operating income¥2.64B
FY ending Mar 2022: ¥1.92B¥1.92BFY ending Mar 2023: ¥2.21B¥2.21BFY ending Mar 2024: ¥1.96B¥1.96BFY ending Mar 2025: ¥4.13B¥4.13BFY ending Mar 2026: ¥2.64B¥2.64BFY22FY23FY24FY25FY26
Operating margin4.2%
FY ending Mar 2022: 3.9%3.9%FY ending Mar 2023: 4.3%4.3%FY ending Mar 2024: 3.5%3.5%FY ending Mar 2025: 6.8%6.8%FY ending Mar 2026: 4.2%4.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.2%
Asset turnover0.72×
ROA2.3%
ROA2.3%
Financial leverage2.37×
ROE5.5%

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

Net margin3.2%
2022: 3.0%3.0%2023: 3.1%3.1%2024: 2.5%2.5%2026: 3.2%3.2%2223242526
Asset turnover0.72×
2022: 0.72×0.72×2023: 0.72×0.72×2024: 0.75×0.75×2026: 0.72×0.72×2223242526
ROA2.3%
2022: 2.1%2.1%2023: 2.3%2.3%2024: 1.9%1.9%2025: -4.2%-4.2%2026: 2.3%2.3%2223242526
Financial leverage2.37×
2022: 1.81×1.81×2023: 1.82×1.82×2024: 1.88×1.88×2026: 2.37×2.37×2223242526
ROE5.5%
2022: 3.9%3.9%2023: 4.1%4.1%2024: 3.5%3.5%2026: 5.5%5.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20223.0%0.72×2.1%1.81×3.9%
20233.1%0.72×2.3%1.82×4.1%
20242.5%0.75×1.9%1.88×3.5%
2025——×-4.2%—×—
20263.2%0.72×2.3%2.37×5.5%

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 ÷ revenue35.6%
2021: 50.0%50.0%2022: 47.9%47.9%2023: 46.6%46.6%2024: 44.1%44.1%2025: 38.2%38.2%2026: 35.6%35.6%212223242526
PPE ÷ total assets24.6%
2021: 35.3%35.3%2022: 34.3%34.3%2023: 32.8%32.8%2024: 32.2%32.2%2025: 28.3%28.3%2026: 24.6%24.6%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¥2.01B
2021: ¥1.46B¥1.46B2022: ¥1.44B¥1.44B2023: ¥1.35B¥1.35B2024: ¥1.47B¥1.47B2025: ¥1.72B¥1.72B2026: ¥2.01B¥2.01B212223242526
R&D / revenue3.2%
2021: 3.0%3.0%2022: 2.9%2.9%2023: 2.7%2.7%2024: 2.7%2.7%2025: 2.8%2.8%2026: 3.2%3.2%212223242526
Receivable days158d
2025: 160d160d2026: 158d158d212223242526

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
Revenue49,63251,01555,40760,56362,307
Cost of revenue36,23537,27541,56844,03046,312
Gross profit13,39713,74013,83816,53215,995
SG&A11,47311,53311,87412,40113,355
Operating income1,9242,2061,9644,1312,639
Pretax income1,9112,2051,767-4,9702,438
Income tax427599389-1,682426
Net income attributable to owners1,4831,6051,377-3,2882,011
Operating margin3.9%4.3%3.5%6.8%4.2%

Balance sheet (reported items)

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

Assets

5%
Receivables 30%
Property, plant and equipment 25%
1%
6%
Other assets 33%

Funding

Other liabilities 61%
Equity 39%
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¥7.35B¥8.01B¥5.12B¥6.26B¥4.85B
Total assets¥69.3B¥72.5B¥75.8B¥81.7B¥90.3B
Net assets¥34.5B¥35.6B¥36.7B¥33B¥35.1B
Share capital¥10.8B¥10.8B¥10.8B¥10.8B¥10.8B
Trade receivables———¥26.5B¥26.9B
Property, plant and equipment¥23.8B¥23.8B¥24.4B¥23.1B¥22.2B
Intangible assets excluding goodwill¥453M¥329M¥600M¥1.51B¥1.35B
Investment securities¥3.09B¥3.02B¥3.92B¥4.38B¥5.33B
Current assets¥39.8B¥43.2B¥44.9B¥48.3B¥57.3B
Current liabilities¥26.4B¥28.5B¥29.6B¥44.1B¥51.7B
Short-term borrowings¥2.35B¥2.35B¥2.35B¥18B¥26B
Long-term borrowings¥5.76B¥5.75B¥7.02B¥2.46B¥1.86B
Total liabilities¥34.8B¥36.8B¥39.1B¥48.7B¥55.3B
Equity attributable to owners of parent¥38.3B¥39.4B¥39.7B¥35.7B¥37B
Retained earnings¥14.7B¥15.8B¥16.5B¥12.6B¥13.9B
Treasury stock-¥2.17B-¥2.17B-¥2.59B-¥2.59B-¥2.6B

Sources

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

    有価証券報告書-第103期(2025/04/01-2026/03/31)

    ID S100YHSC2026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第102期(2024/04/01-2025/03/31)

    ID S100W3Q02025-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第101期(2023/04/01-2024/03/31)

    ID S100TRL62024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第100期(2022/04/01-2023/03/31)

    ID S100R6DG2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第99期(令和3年4月1日-令和4年3月31日)

    ID S100OL982022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第98期(令和2年4月1日-令和3年3月31日)

    ID S100LSH72021-06-29Open

Extracted from XBRL: 50 / Derived from other figures: 1

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