Inaba Denki SangyoINABA DENKI SANGYO CO.,LTD.9934東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Inaba Denki Sangyo revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +8.6% from the prior year, operating profit +16.3%.

Five-year trend

Revenue¥417B
FY ending Mar 2022: ¥289.1B¥289.1BFY ending Mar 2023: ¥316.9B¥316.9BFY ending Mar 2024: ¥345.4B¥345.4BFY ending Mar 2025: ¥384B¥384BFY ending Mar 2026: ¥417B¥417BFY22FY23FY24FY25FY26
Operating income¥29.7B
FY ending Mar 2022: ¥16.3B¥16.3BFY ending Mar 2023: ¥18.6B¥18.6BFY ending Mar 2024: ¥21.3B¥21.3BFY ending Mar 2025: ¥25.6B¥25.6BFY ending Mar 2026: ¥29.7B¥29.7BFY22FY23FY24FY25FY26
Operating margin7.1%
FY ending Mar 2022: 5.6%5.6%FY ending Mar 2023: 5.9%5.9%FY ending Mar 2024: 6.2%6.2%FY ending Mar 2025: 6.7%6.7%FY ending Mar 2026: 7.1%7.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.6%
Asset turnover1.41×
ROA7.9%
ROA7.9%
Financial leverage1.73×
ROE13.7%

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

Net margin5.6%
2022: 4.2%4.2%2023: 4.9%4.9%2024: 4.5%4.5%2025: 4.9%4.9%2026: 5.6%5.6%2223242526
Asset turnover1.41×
2022: 1.23×1.23×2023: 1.32×1.32×2024: 1.36×1.36×2025: 1.42×1.42×2026: 1.41×1.41×2223242526
ROA7.9%
2022: 5.2%5.2%2023: 6.4%6.4%2024: 6.1%6.1%2025: 6.9%6.9%2026: 7.9%7.9%2223242526
Financial leverage1.73×
2022: 1.74×1.74×2023: 1.72×1.72×2024: 1.70×1.70×2025: 1.70×1.70×2026: 1.73×1.73×2223242526
ROE13.7%
2022: 9.1%9.1%2023: 11.0%11.0%2024: 10.5%10.5%2025: 11.8%11.8%2026: 13.7%13.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20224.2%1.23×5.2%1.74×9.1%
20234.9%1.32×6.4%1.72×11.0%
20244.5%1.36×6.1%1.70×10.5%
20254.9%1.42×6.9%1.70×11.8%
20265.6%1.41×7.9%1.73×13.7%

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 ÷ revenue6.0%
2021: 7.8%7.8%2022: 7.5%7.5%2023: 6.8%6.8%2024: 6.3%6.3%2025: 5.6%5.6%2026: 6.0%6.0%212223242526
PPE ÷ total assets8.0%
2021: 9.9%9.9%2022: 9.2%9.2%2023: 8.8%8.8%2024: 8.2%8.2%2025: 7.7%7.7%2026: 8.0%8.0%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¥1.16B
2021: ¥965M¥965M2022: ¥913M¥913M2023: ¥926M¥926M2024: ¥1.03B¥1.03B2025: ¥1.05B¥1.05B2026: ¥1.16B¥1.16B212223242526
R&D / revenue0.3%
2021: 0.3%0.3%2022: 0.3%0.3%2023: 0.3%0.3%2024: 0.3%0.3%2025: 0.3%0.3%2026: 0.3%0.3%212223242526
Receivable days—
2021: 91d91d212223242526

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
Revenue289,071316,947345,369384,012417,023
Cost of revenue240,911264,624288,316318,926344,412
Gross profit48,16052,32357,05365,08672,610
SG&A31,89833,68235,73039,52942,898
Operating income16,26118,64121,32225,55629,711
Pretax income17,70421,08322,93226,65432,887
Income tax5,4385,6567,3097,8709,467
Net income attributable to owners12,26615,42715,62318,78323,420
Operating margin5.6%5.9%6.2%6.7%7.1%

Balance sheet (reported items)

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

Assets

Cash 24%
8%
1%
Investment securities 12%
Other assets 55%

Funding

Other liabilities 37%
Equity 63%
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¥72.6B¥53.9B¥61.5B¥66.1B¥76.2B
Total assets¥235.4B¥245.6B¥262.8B¥279B¥313.3B
Net assets¥141.3B¥151.2B¥162.3B¥173B¥197.4B
Share capital¥14B¥14B¥14B¥14.5B¥14.5B
Property, plant and equipment¥21.6B¥21.6B¥21.7B¥21.4B¥25.1B
Intangible assets excluding goodwill¥1.46B¥1.36B¥1.45B¥2.67B¥3.36B
Investment securities¥17B¥16.9B¥19.6B¥20B¥36.3B
Current assets¥192.4B¥196.3B¥205.6B¥215.7B¥227.6B
Current liabilities¥88.7B¥88.8B¥94.5B¥100.2B¥105.5B
Short-term borrowings¥343M¥382M¥413M¥232M¥247M
Total liabilities¥94.2B¥94.4B¥100.5B¥106B¥115.9B
Equity attributable to owners of parent¥135.1B¥144.7B¥153.6B¥164.7B¥178.4B
Retained earnings¥109.4B¥118.5B¥126.9B¥138.2B¥152.3B
Treasury stock-¥2.41B-¥1.98B-¥1.41B-¥2.76B-¥3.17B

Sources

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

    有価証券報告書-第78期(2025/04/01-2026/03/31)

    ID S100YFJE2026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第77期(2024/04/01-2025/03/31)

    ID S100W2KD2025-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第76期(2023/04/01-2024/03/31)

    ID S100TPGW2024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第75期(2022/04/01-2023/03/31)

    ID S100R34V2023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第74期(令和3年4月1日-令和4年3月31日)

    ID S100O9NU2022-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第73期(令和2年4月1日-令和3年3月31日)

    ID S100LIBI2021-06-22Open

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