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Hi-LexHI-LEX CORPORATION7279東証スタンダード輸送用機器FY ending Oct 2025, consolidated, J-GAAP

Hi-Lex revenue and profit

Out of every ¥100 of sales, about ¥1 is left as operating profit. Revenue changed -1.4% from the prior year, operating profit +829.0%.

Five-year trend

Revenue¥304.1B
FY ending Oct 2021: ¥217.8B¥217.8BFY ending Oct 2022: ¥255.6B¥255.6BFY ending Oct 2023: ¥298.6B¥298.6BFY ending Oct 2024: ¥308.4B¥308.4BFY ending Oct 2025: ¥304.1B¥304.1BFY21FY22FY23FY24FY25
Operating income¥3.39B
FY ending Oct 2021: ¥685M¥685MFY ending Oct 2022: -¥4.86B-¥4.86BFY ending Oct 2023: ¥2.98B¥2.98BFY ending Oct 2024: ¥365M¥365MFY ending Oct 2025: ¥3.39B¥3.39BFY21FY22FY23FY24FY25
Operating margin1.1%
FY ending Oct 2021: 0.3%0.3%FY ending Oct 2022: -1.9%-1.9%FY ending Oct 2023: 1.0%1.0%FY ending Oct 2024: 0.1%0.1%FY ending Oct 2025: 1.1%1.1%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin2.8%
Asset turnover1.11×
ROA3.1%
ROA3.1%
Financial leverage2.07×
ROE6.4%

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

Net margin2.8%
2021: 2.2%2.2%2024: 0.6%0.6%2025: 2.8%2.8%2122232425
Asset turnover1.11×
2021: 0.88×0.88×2024: 1.12×1.12×2025: 1.11×1.11×2122232425
ROA3.1%
2021: 2.0%2.0%2022: -2.7%-2.7%2023: -1.1%-1.1%2024: 0.7%0.7%2025: 3.1%3.1%2122232425
Financial leverage2.07×
2021: 1.73×1.73×2024: 2.11×2.11×2025: 2.07×2.07×2122232425
ROE6.4%
2021: 3.4%3.4%2024: 1.5%1.5%2025: 6.4%6.4%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20212.2%0.88×2.0%1.73×3.4%
2022——×-2.7%—×—
2023——×-1.1%—×—
20240.6%1.12×0.7%2.11×1.5%
20252.8%1.11×3.1%2.07×6.4%

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 ÷ revenue20.5%
2020: 30.9%30.9%2021: 28.9%28.9%2022: 26.9%26.9%2023: 22.1%22.1%2024: 20.5%20.5%2025: 20.5%20.5%202122232425
PPE ÷ total assets22.5%
2020: 25.2%25.2%2021: 25.4%25.4%2022: 25.4%25.4%2023: 23.5%23.5%2024: 23.4%23.4%2025: 22.5%22.5%202122232425
Goodwill ÷ parent equity0.7%
2020: 1.4%1.4%2021: 1.2%1.2%2022: 1.0%1.0%2023: 0.9%0.9%2024: 0.8%0.8%2025: 0.7%0.7%202122232425
Goodwill balance¥932M
2020: ¥1.96B¥1.96B2021: ¥1.67B¥1.67B2022: ¥1.42B¥1.42B2023: ¥1.24B¥1.24B2024: ¥1.05B¥1.05B2025: ¥932M¥932M202122232425

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¥4.63B
2020: ¥3.44B¥3.44B2021: ¥3.67B¥3.67B2022: ¥3.98B¥3.98B2023: ¥4.42B¥4.42B2024: ¥4.51B¥4.51B2025: ¥4.63B¥4.63B202122232425
R&D / revenue1.5%
2020: 1.8%1.8%2021: 1.7%1.7%2022: 1.6%1.6%2023: 1.5%1.5%2024: 1.5%1.5%2025: 1.5%1.5%202122232425
Receivable days—
2020: 66d66d2021: 54d54d202122232425
Payable days52d
2020: 56d56d2021: 48d48d2022: 55d55d2023: 54d54d2024: 48d48d2025: 52d52d202122232425

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 Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Revenue217,754255,616298,623308,382304,123
Cost of revenue194,158235,651267,120277,410270,165
Gross profit23,59519,96531,50230,97133,957
SG&A22,91024,82228,52230,60630,565
Operating income685-4,8562,9803653,391
Pretax income8,068-5,687-1,2065,77911,216
Income tax1,8823331,0492,2411,560
Net income attributable to owners4,896-7,120-2,9911,9738,419
Operating margin0.3%-1.9%1.0%0.1%1.1%

Balance sheet (reported items)

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

Assets

Cash 20%
Property, plant and equipment 22%
2%
Investment securities 16%
Other assets 40%

Funding

Trade payables 14%
Other liabilities 17%
Equity 69%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Cash and equivalents¥41.5B¥39.1B¥41.6B¥48.5B¥54.7B
Total assets¥248B¥270.3B¥281B¥270.3B¥277B
Net assets¥180.5B¥188.8B¥191.2B¥184.6B¥191.7B
Share capital¥5.66B¥5.66B¥5.66B¥5.66B¥5.66B
Trade receivables¥32.4B————
Property, plant and equipment¥63B¥68.8B¥66.1B¥63.3B¥62.2B
Intangible assets excluding goodwill¥3.78B¥3.6B¥4.03B¥3.97B¥3.57B
Goodwill¥1.67B¥1.42B¥1.24B¥1.05B¥932M
Investment securities¥51.8B¥46.3B¥50B¥45.6B¥43.7B
Current assets¥122.3B¥143.3B¥151.7B¥146.7B¥156.6B
Current liabilities¥50.7B¥67.3B¥74B¥69.7B¥72.2B
Trade payables¥25.6B¥35.7B¥39.5B¥36.2B¥38.7B
Short-term borrowings¥3.57B¥8.68B¥9.92B¥9.4B¥7.49B
Long-term borrowings¥1.87B¥1.74B¥1.37B¥1.42B¥1.01B
Total liabilities¥67.5B¥81.5B¥89.8B¥85.7B¥85.3B
Non-controlling interests¥15B¥16.4B¥15.8B¥15.6B¥16.5B
Equity attributable to owners of parent¥143.2B¥135.7B¥131.1B¥129.8B¥135.2B
Retained earnings¥131B¥122.6B¥118.3B¥117.5B¥124.4B
Treasury stock-¥1.29B-¥1.22B-¥1.22B-¥1.22B-¥2.69B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第82期(2024/11/01－2025/10/31)

    ID S100XGCL2026-01-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第81期(2023/11/01－2024/10/31)

    ID S100V3Z22025-01-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(2022/11/01－2023/10/31)

    ID S100SLCW2024-01-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第79期(2021/11/01－2022/10/31)

    ID S100PXOE2023-01-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(令和2年11月1日－令和3年10月31日)

    ID S100N2XK2022-01-31Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第77期(令和1年11月1日－令和2年10月31日)

    ID S100KZFA2021-03-19Open

Extracted from XBRL: 55 / Derived from other figures: 1

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