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Ichikoh IndustriesICHIKOH INDUSTRIES, LTD.7244東証プライム電気機器FY ending Dec 2025, consolidated, J-GAAP

Ichikoh Industries revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed -6.7% from the prior year, operating profit +19.1%.

Five-year trend

Revenue¥117.1B
FY ending Dec 2021: ¥125.5B¥125.5BFY ending Dec 2022: ¥135.5B¥135.5BFY ending Dec 2023: ¥145.9B¥145.9BFY ending Dec 2024: ¥125.5B¥125.5BFY ending Dec 2025: ¥117.1B¥117.1BFY21FY22FY23FY24FY25
Operating income¥5.82B
FY ending Dec 2021: ¥5.56B¥5.56BFY ending Dec 2022: ¥3.94B¥3.94BFY ending Dec 2023: ¥7.42B¥7.42BFY ending Dec 2024: ¥4.88B¥4.88BFY ending Dec 2025: ¥5.82B¥5.82BFY21FY22FY23FY24FY25
Operating margin5.0%
FY ending Dec 2021: 4.4%4.4%FY ending Dec 2022: 2.9%2.9%FY ending Dec 2023: 5.1%5.1%FY ending Dec 2024: 3.9%3.9%FY ending Dec 2025: 5.0%5.0%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin5.3%
Asset turnover0.90×
ROA4.8%
ROA4.8%
Financial leverage1.89×
ROE9.0%

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

Net margin5.3%
2021: 3.2%3.2%2022: 3.3%3.3%2023: 5.4%5.4%2024: 3.6%3.6%2025: 5.3%5.3%2122232425
Asset turnover0.90×
2021: 1.12×1.12×2022: 1.14×1.14×2023: 1.14×1.14×2024: 0.97×0.97×2025: 0.90×0.90×2122232425
ROA4.8%
2021: 3.5%3.5%2022: 3.7%3.7%2023: 6.1%6.1%2024: 3.4%3.4%2025: 4.8%4.8%2122232425
Financial leverage1.89×
2021: 2.18×2.18×2022: 2.22×2.22×2023: 2.14×2.14×2024: 2.01×2.01×2025: 1.89×1.89×2122232425
ROE9.0%
2021: 7.7%7.7%2022: 8.2%8.2%2023: 13.2%13.2%2024: 6.9%6.9%2025: 9.0%9.0%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20213.2%1.12×3.5%2.18×7.7%
20223.3%1.14×3.7%2.22×8.2%
20235.4%1.14×6.1%2.14×13.2%
20243.6%0.97×3.4%2.01×6.9%
20255.3%0.90×4.8%1.89×9.0%

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 ÷ revenue32.2%
2020: 40.4%40.4%2021: 36.1%36.1%2022: 30.8%30.8%2023: 27.2%27.2%2024: 30.6%30.6%2025: 32.2%32.2%202122232425
PPE ÷ total assets29.1%
2020: 41.9%41.9%2021: 40.3%40.3%2022: 33.1%33.1%2023: 30.7%30.7%2024: 29.6%29.6%2025: 29.1%29.1%202122232425

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¥5.59B
2020: ¥7.2B¥7.2B2021: ¥6.41B¥6.41B2022: ¥6.31B¥6.31B2023: ¥7.17B¥7.17B2024: ¥5.8B¥5.8B2025: ¥5.59B¥5.59B202122232425
R&D / revenue4.8%
2020: 6.3%6.3%2021: 5.1%5.1%2022: 4.7%4.7%2023: 4.9%4.9%2024: 4.6%4.6%2025: 4.8%4.8%202122232425
Receivable days—
2020: 67d67d2021: 56d56d2022: 73d73d2023: 61d61d2024: 48d48d202122232425
Payable days—
2020: 119d119d2021: 106d106d2022: 61d61d2023: 49d49d2024: 50d50d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue125,510135,451145,897125,544117,089
Cost of revenue100,740112,253118,172103,63996,169
Gross profit24,77023,19827,72421,90420,919
SG&A19,20719,26020,30117,02115,103
Operating income5,5623,9377,4224,8835,815
Pretax income6,0284,4089,8066,8617,351
Income tax1,978-941,9142,2721,010
Net income attributable to owners3,9834,4237,8384,4706,203
Operating margin4.4%2.9%5.1%3.9%5.0%

Balance sheet (reported items)

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

Assets

Cash 10%
Property, plant and equipment 29%
0%
3%
Other assets 58%

Funding

Other liabilities 38%
Equity 62%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥5.72B¥8.63B¥8.94B¥12.6B¥12.4B
Total assets¥112.5B¥125.9B¥129.4B¥130.1B¥129.6B
Net assets¥49.5B¥55B¥64.7B¥71B¥80.1B
Share capital¥8.99B¥8.99B¥9B¥9B¥9.02B
Trade receivables¥19.1B¥27.1B¥24.4B¥16.6B—
Property, plant and equipment¥45.4B¥41.7B¥39.7B¥38.5B¥37.8B
Intangible assets excluding goodwill¥995M¥859M¥123M¥38M¥41M
Investment securities¥1.37B¥2.27B¥2.96B¥3.47B¥4.37B
Current assets¥48.2B¥63.3B¥67.3B¥66.5B¥69.4B
Current liabilities¥49.3B¥58.5B¥53.9B¥48.1B¥38.8B
Trade payables¥29.2B¥18.7B¥15.7B¥14.1B—
Short-term borrowings¥300M¥1.4B¥1.15B¥13M—
Long-term borrowings¥2.94B¥920M———
Total liabilities¥63B¥70.9B¥64.7B¥59.1B¥49.5B
Non-controlling interests¥603M¥673M¥692M¥902M¥1.01B
Equity attributable to owners of parent¥51.5B¥56.1B¥63B¥66.3B¥71.3B
Retained earnings¥40.1B¥44.7B¥51.5B¥54.9B¥59.8B
Treasury stock-¥54M-¥55M-¥55M-¥56M-¥56M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第96期(2025/01/01－2025/12/31)

    ID S100XTYP2026-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第95期(2024/01/01－2024/12/31)

    ID S100VIK22025-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第94期(2023/01/01－2023/12/31)

    ID S100T5XW2024-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第93期(2022/01/01－2022/12/31)

    ID S100QGMY2023-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第92期(令和3年1月1日－令和3年12月31日)

    ID S100NQZ42022-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第91期(令和2年1月1日－令和2年12月31日)

    ID S100L1N02021-03-26Open

Extracted from XBRL: 49 / Derived from other figures: 1

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