HakutenHakuten Corporation2173東証グロースサービス業FY ending Dec 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed +23.8% from the prior year, operating profit +86.0%.
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 |
|---|---|---|---|---|---|
| 2023 | 4.0% | 2.82× | 11.2% | 2.49× | 27.8% |
| 2023 | 5.2% | 1.71× | 8.9% | 2.90× | 25.7% |
| 2024 | 5.3% | 2.42× | 12.8% | 2.60× | 33.3% |
| 2025 | 8.2% | 2.58× | 21.2% | 2.17× | 45.8% |
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
| Item | FY ending Mar 2023 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|
| Revenue | 13,943 | 13,137 | 18,845 | 23,336 |
| Cost of revenue | 10,066 | 9,172 | 13,152 | 15,846 |
| Gross profit | 3,877 | 3,965 | 5,693 | 7,491 |
| SG&A | 3,138 | 2,938 | 4,299 | 4,898 |
| Operating income | 739 | 1,027 | 1,394 | 2,593 |
| Pretax income | 719 | 965 | 1,381 | 2,598 |
| Income tax | 165 | 286 | 379 | 678 |
| Net income attributable to owners | 554 | 679 | 999 | 1,914 |
| Operating margin | 5.3% | 7.8% | 7.4% | 11.1% |
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 Mar 2023 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|
| Cash and equivalents | ¥1.03B | ¥2.53B | ¥2.64B | ¥4.5B |
| Total assets | ¥4.94B | ¥7.67B | ¥7.9B | ¥10.2B |
| Net assets | ¥1.99B | ¥2.64B | ¥3.36B | ¥5B |
| Share capital | ¥205.5M | ¥222.5M | ¥239.7M | ¥259.5M |
| Property, plant and equipment | ¥332.8M | ¥652.4M | ¥685.3M | ¥619M |
| Intangible assets excluding goodwill | ¥130.9M | ¥111.8M | ¥176M | ¥136.4M |
| Goodwill | — | — | ¥72.9M | ¥62.1M |
| Investment securities | ¥8.7M | ¥7.3M | ¥1.8M | — |
| Current assets | ¥4.02B | ¥6.37B | ¥6.49B | ¥8.75B |
| Current liabilities | ¥2.78B | ¥3.28B | ¥3.23B | ¥4.33B |
| Short-term borrowings | ¥800M | ¥30M | ¥20M | — |
| Long-term borrowings | ¥150.2M | ¥1.69B | ¥1.26B | ¥819.3M |
| Total liabilities | ¥2.95B | ¥5.02B | ¥4.54B | ¥5.18B |
| Non-controlling interests | — | — | ¥5.8M | ¥7.4M |
| Equity attributable to owners of parent | ¥1.99B | ¥2.64B | ¥3.35B | ¥5B |
| Retained earnings | ¥1.74B | ¥2.34B | ¥3B | ¥4.58B |
| Treasury stock | -¥276M | -¥259.4M | -¥239.1M | -¥218.4M |
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