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Hankyu Hanshin HoldingsHankyu Hanshin Holdings,Inc.9042東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

Hankyu Hanshin Holdings revenue and profit

Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed +8.7% from the prior year, operating profit +14.7%.

Five-year trend

Revenue¥1.2T
FY ending Mar 2022: ¥746.2B¥746.2BFY ending Mar 2023: ¥968.3B¥968.3BFY ending Mar 2024: ¥997.6B¥997.6BFY ending Mar 2025: ¥1.11T¥1.11TFY ending Mar 2026: ¥1.2T¥1.2TFY22FY23FY24FY25FY26
Operating income¥127.1B
FY ending Mar 2022: ¥39.2B¥39.2BFY ending Mar 2023: ¥89.3B¥89.3BFY ending Mar 2024: ¥105.7B¥105.7BFY ending Mar 2025: ¥110.9B¥110.9BFY ending Mar 2026: ¥127.1B¥127.1BFY22FY23FY24FY25FY26
Operating margin10.6%
FY ending Mar 2022: 5.3%5.3%FY ending Mar 2023: 9.2%9.2%FY ending Mar 2024: 10.6%10.6%FY ending Mar 2025: 10.0%10.0%FY ending Mar 2026: 10.6%10.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin6.5%
Asset turnover0.35×
ROA2.3%
ROA2.3%
Financial leverage3.41×
ROE7.8%

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

Net margin6.5%
2022: 2.9%2.9%2023: 4.8%4.8%2024: 6.8%6.8%2025: 6.1%6.1%2026: 6.5%6.5%2223242526
Asset turnover0.35×
2022: 0.27×0.27×2023: 0.35×0.35×2024: 0.34×0.34×2025: 0.35×0.35×2026: 0.35×0.35×2223242526
ROA2.3%
2022: 0.8%0.8%2023: 1.7%1.7%2024: 2.3%2.3%2025: 2.1%2.1%2026: 2.3%2.3%2223242526
Financial leverage3.41×
2022: 3.23×3.23×2023: 3.25×3.25×2024: 3.27×3.27×2025: 3.32×3.32×2026: 3.41×3.41×2223242526
ROE7.8%
2022: 2.5%2.5%2023: 5.5%5.5%2024: 7.5%7.5%2025: 7.1%7.1%2026: 7.8%7.8%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.9%0.27×0.8%3.23×2.5%
20234.8%0.35×1.7%3.25×5.5%
20246.8%0.34×2.3%3.27×7.5%
20256.1%0.35×2.1%3.32×7.1%
20266.5%0.35×2.3%3.41×7.8%

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 ÷ revenue173.4%
2021: 324.8%324.8%2022: 257.7%257.7%2023: 204.6%204.6%2024: 201.4%201.4%2025: 186.9%186.9%2026: 173.4%173.4%212223242526
PPE ÷ total assets58.9%
2021: 70.5%70.5%2022: 70.6%70.6%2023: 69.1%69.1%2024: 65.8%65.8%2025: 63.0%63.0%2026: 58.9%58.9%212223242526
Goodwill ÷ parent equity—
2021: 1.4%1.4%2022: 1.1%1.1%2023: 0.8%0.8%212223242526
Goodwill balance—
2021: ¥12B¥12B2022: ¥9.65B¥9.65B2023: ¥7.33B¥7.33B212223242526

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.

Receivable days40d
2021: 47d47d2022: 55d55d2023: 45d45d2024: 38d38d2025: 34d34d2026: 40d40d212223242526

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
Revenue746,217968,300997,6111,106,8541,203,506
Cost of revenue—————
Gross profit—————
SG&A27,13929,81332,77233,56839,567
Operating income39,21289,350105,689110,879127,136
Pretax income38,59275,01284,246102,795114,919
Income tax13,25623,42213,19733,93531,451
Net income attributable to owners21,41846,95267,77467,38678,538
Operating margin5.3%9.2%10.6%10.0%10.6%

Balance sheet (reported items)

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

Assets

2%
4%
Property, plant and equipment 59%
1%
Investment securities 15%
Other assets 19%

Funding

1%
Interest-bearing debt 40%
Other liabilities 25%
Equity 34%
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¥29.4B¥41.4B¥53.8B¥56B¥69.6B
Total assets¥2.72T¥2.87T¥3.05T¥3.28T¥3.54T
Net assets¥915.4B¥980.9B¥1.07T¥1.13T¥1.2T
Share capital¥99.5B¥99.5B¥99.5B¥99.5B¥99.5B
Trade receivables¥112.6B¥120.1B¥103.4B¥102.3B¥131.1B
Property, plant and equipment¥1.92T¥1.98T¥2.01T¥2.07T¥2.09T
Intangible assets excluding goodwill¥37.5B¥35.5B¥36.3B¥43.2B¥46.3B
Goodwill¥9.65B¥7.33B———
Investment securities¥316.2B¥342.7B¥404.3B¥456.7B¥546.2B
Current assets¥365.8B¥428.1B¥513.4B¥618.1B¥756.7B
Current liabilities¥426.7B¥499.7B¥507B¥536B¥592.7B
Trade payables¥40.7B¥42B¥43.2B¥48.5B¥49.6B
Short-term borrowings¥145.7B¥188B¥189.9B¥169.4B¥227.3B
Long-term borrowings¥649.5B¥634.6B¥705.8B¥774B¥879.7B
Bonds¥230B¥230B¥250B¥295B¥305B
Interest-bearing debt¥1.03Tderived¥1.05Tderived¥1.15Tderived¥1.24Tderived¥1.41Tderived
Total liabilities¥1.81T¥1.88T¥1.98T¥2.15T¥2.34T
Non-controlling interests¥45B¥74.1B¥91.6B¥96.6B¥97.4B
Equity attributable to owners of parent¥843.3B¥878.1B¥930.3B¥975.6B¥1.03T
Retained earnings¥645.2B¥680B¥735.4B¥782.7B¥835.6B
Treasury stock-¥48.7B-¥48.7B-¥51.9B-¥53.7B-¥53.5B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第188期(2025/04/01－2026/03/31)

    ID S100YCBL2026-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第187期(2024/04/01－2025/03/31)

    ID S100VXO32025-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第186期(2023/04/01－2024/03/31)

    ID S100TMC42024-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第185期(2022/04/01－2023/03/31)

    ID S100QYR42023-06-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第184期(令和3年4月1日－令和4年3月31日)

    ID S100O99F2022-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第183期(令和2年4月1日－令和3年3月31日)

    ID S100LJHO2021-06-17Open

Extracted from XBRL: 53 / Derived from other figures: 2

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