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J.S.B.J.S.B.Co.,Ltd.3480東証プライム不動産業FY ending Oct 2025, consolidated, J-GAAP

J.S.B. revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +9.4% from the prior year, operating profit -5.5%.

Five-year trend

Revenue¥76B
FY ending Oct 2021: ¥52.8B¥52.8BFY ending Oct 2022: ¥57.9B¥57.9BFY ending Oct 2023: ¥63.8B¥63.8BFY ending Oct 2024: ¥69.5B¥69.5BFY ending Oct 2025: ¥76B¥76BFY21FY22FY23FY24FY25
Operating income¥7.66B
FY ending Oct 2021: ¥5.34B¥5.34BFY ending Oct 2022: ¥6.31B¥6.31BFY ending Oct 2023: ¥7.19B¥7.19BFY ending Oct 2024: ¥8.11B¥8.11BFY ending Oct 2025: ¥7.66B¥7.66BFY21FY22FY23FY24FY25
Operating margin10.1%
FY ending Oct 2021: 10.1%10.1%FY ending Oct 2022: 10.9%10.9%FY ending Oct 2023: 11.3%11.3%FY ending Oct 2024: 11.7%11.7%FY ending Oct 2025: 10.1%10.1%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin6.8%
Asset turnover0.90×
ROA6.1%
ROA6.1%
Financial leverage2.16×
ROE13.2%

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

Net margin6.8%
2021: 6.2%6.2%2022: 7.4%7.4%2023: 7.5%7.5%2024: 10.7%10.7%2025: 6.8%6.8%2122232425
Asset turnover0.90×
2021: 1.05×1.05×2022: 1.06×1.06×2023: 1.02×1.02×2024: 0.95×0.95×2025: 0.90×0.90×2122232425
ROA6.1%
2021: 6.5%6.5%2022: 7.9%7.9%2023: 7.6%7.6%2024: 10.2%10.2%2025: 6.1%6.1%2122232425
Financial leverage2.16×
2021: 2.22×2.22×2022: 2.23×2.23×2023: 2.22×2.22×2024: 2.17×2.17×2025: 2.16×2.16×2122232425
ROE13.2%
2021: 14.4%14.4%2022: 17.6%17.6%2023: 16.9%16.9%2024: 22.0%22.0%2025: 13.2%13.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20216.2%1.05×6.5%2.22×14.4%
20227.4%1.06×7.9%2.23×17.6%
20237.5%1.02×7.6%2.22×16.9%
202410.7%0.95×10.2%2.17×22.0%
20256.8%0.90×6.1%2.16×13.2%

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 ÷ revenue78.9%
2020: 48.2%48.2%2021: 55.3%55.3%2022: 60.4%60.4%2023: 70.0%70.0%2024: 74.3%74.3%2025: 78.9%78.9%202122232425
PPE ÷ total assets67.4%
2020: 57.5%57.5%2021: 58.0%58.0%2022: 59.3%59.3%2023: 67.0%67.0%2024: 64.6%64.6%2025: 67.4%67.4%202122232425
Goodwill ÷ parent equity1.4%
2020: 3.7%3.7%2021: 1.5%1.5%2022: 1.2%1.2%2023: 0.7%0.7%2024: 1.7%1.7%2025: 1.4%1.4%202122232425
Goodwill balance¥567.4M
2020: ¥618.8M¥618.8M2021: ¥347.2M¥347.2M2022: ¥310.5M¥310.5M2023: ¥218.9M¥218.9M2024: ¥633.2M¥633.2M2025: ¥567.4M¥567.4M202122232425

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.

Inventory days2d
2020: 2d2d2021: 2d2d2022: 2d2d2023: 2d2d2024: 2d2d2025: 2d2d202122232425

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
Revenue52,78857,92363,78169,53076,046
Cost of revenue43,78647,64852,40957,08862,361
Gross profit9,00210,27511,37212,44113,684
SG&A3,6643,9634,1854,3356,025
Operating income5,3386,3127,1878,1077,659
Pretax income5,0506,4767,10810,9897,512
Income tax1,8052,1752,3363,5372,360
Net income attributable to owners3,2534,3044,7757,4535,151
Operating margin10.1%10.9%11.3%11.7%10.1%

Balance sheet (reported items)

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

Assets

Cash 19%
0%
Property, plant and equipment 68%
2%
1%
Other assets 10%

Funding

Other liabilities 53%
Equity 47%

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¥12.7B¥14.6B¥11.7B¥17.2B¥17.3B
Total assets¥50.3B¥58.9B¥66.6B¥80B¥88.9B
Net assets¥23.2B¥26.8B¥31B¥37.9B¥41.6B
Share capital¥4.16B¥4.23B¥4.26B¥4.3B¥4.31B
Inventories¥182.3M¥202.2M¥221.6M¥251.5M¥256.7M
Property, plant and equipment¥29.2B¥35B¥44.7B¥51.7B¥60B
Intangible assets excluding goodwill¥886.7M¥769.6M¥610.2M¥920.3M¥909.9M
Goodwill¥347.2M¥310.5M¥218.9M¥633.2M¥567.4M
Investment securities¥1.13B¥1.07B¥1.21B¥1.26B¥1.26B
Current assets¥14.4B¥16.6B¥14.1B¥19.8B¥19.9B
Current liabilities¥9.25B¥10.5B¥12B¥13.8B¥15.3B
Short-term borrowings¥50M¥50M¥50M¥50M¥50M
Long-term borrowings¥14.8B¥18.4B¥20.1B¥24.7B¥28.3B
Bonds¥30M¥10M———
Interest-bearing debt¥14.9Bderived¥18.5Bderived———
Total liabilities¥27.1B¥32.1B¥35.6B¥42.1B¥47.3B
Non-controlling interests¥24.6M¥25.6M¥22.3M——
Equity attributable to owners of parent¥22.6B¥26.3B¥30.4B¥37.2B¥40.9B
Retained earnings¥15.1B¥19B¥23.3B¥30.1B¥33.7B
Treasury stock-¥674.4M-¥1.07B-¥1.43B-¥1.43B-¥1.43B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第37期(2024/11/01－2025/10/31)

    ID S100XHE22026-01-26Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第36期(2023/11/01－2024/10/31)

    ID S100VBJG2025-02-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第35期(2022/11/01－2023/10/31)

    ID S100SOD92024-01-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第34期(2021/11/01－2022/10/31)

    ID S100Q1312023-01-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第33期(令和2年11月1日－令和3年10月31日)

    ID S100NA1T2022-01-27Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第32期(令和1年11月1日－令和2年10月31日)

    ID S100M0TK2021-07-20Open

Extracted from XBRL: 52 / Derived from other figures: 1

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