Japan Investment AdviserJapan Investment Adviser Co., Ltd.7172東証プライム証券、商品先物取引業FY ending Dec 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥49 is left as operating profit. Revenue changed +24.4% from the prior year, operating profit +55.9%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | 20.7% | 0.14× | 2.9% | 2.49× | 7.2% |
| 2022 | 24.4% | 0.13× | 3.2% | 3.26× | 10.4% |
| 2023 | 10.8% | 0.11× | 1.2% | 4.31× | 5.2% |
| 2024 | 25.9% | 0.14× | 3.5% | 4.20× | 14.8% |
| 2025 | 27.2% | 0.14× | 3.9% | 4.04× | 15.8% |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 14,105 | 18,045 | 21,818 | 31,129 | 38,738 |
| Cost of revenue | 5,445 | 11,018 | 9,631 | 10,296 | 9,597 |
| Gross profit | 8,659 | 7,027 | 12,187 | 20,833 | 29,140 |
| SG&A | 4,886 | 5,728 | 6,694 | 8,722 | 10,256 |
| Operating income | 3,773 | 1,298 | 5,492 | 12,110 | 18,884 |
| Pretax income | 4,749 | 6,268 | 3,656 | 11,616 | 16,506 |
| Income tax | 1,757 | 1,860 | 1,356 | 3,640 | 5,744 |
| Net income attributable to owners | 2,921 | 4,412 | 2,359 | 8,055 | 10,542 |
| Operating margin | 26.7% | 7.2% | 25.2% | 38.9% | 48.7% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥12.2B | ¥20.8B | ¥28.2B | ¥51.5B | ¥64.8B |
| Total assets | ¥101.8B | ¥175.9B | ¥211.8B | ¥244.9B | ¥293.6B |
| Net assets | ¥41.7B | ¥46.8B | ¥48.8B | ¥67.7B | ¥80.5B |
| Share capital | ¥11.7B | ¥11.7B | ¥11.7B | ¥16.9B | ¥16.9B |
| Property, plant and equipment | ¥355M | ¥460M | ¥437M | ¥1.01B | ¥983M |
| Intangible assets excluding goodwill | ¥360M | ¥425M | ¥203M | ¥192M | ¥129M |
| Goodwill | ¥244M | ¥329M | ¥137M | ¥113M | ¥55M |
| Investment securities | ¥11.5B | ¥17.4B | ¥18.9B | ¥10.4B | ¥13.7B |
| Current assets | ¥76.7B | ¥137B | ¥177.1B | ¥221.6B | ¥270B |
| Current liabilities | ¥48.3B | ¥106.9B | ¥149.4B | ¥160.5B | ¥197.3B |
| Short-term borrowings | ¥38.9B | ¥86.8B | ¥119.4B | ¥125.6B | ¥157.3B |
| Long-term borrowings | ¥5.7B | ¥5.42B | ¥5.7B | ¥4.86B | ¥5.57B |
| Bonds | ¥5.75B | ¥3.22B | ¥6.18B | ¥4.41B | ¥4.97B |
| Interest-bearing debt | ¥50.4Bderived | ¥95.4Bderived | ¥131.3Bderived | ¥134.9Bderived | ¥167.9Bderived |
| Total liabilities | ¥60.1B | ¥129.1B | ¥162.9B | ¥177.2B | ¥213.2B |
| Non-controlling interests | ¥121M | ¥1.01B | ¥950M | ¥849M | ¥6.97B |
| Equity attributable to owners of parent | ¥40.8B | ¥44.3B | ¥45.7B | ¥63.1B | ¥70.2B |
| Retained earnings | ¥19B | ¥22.5B | ¥23.8B | ¥30.8B | ¥37.8B |
| Treasury stock | -¥1.47B | -¥1.47B | -¥1.47B | -¥1.47B | -¥1.28B |
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Extracted from XBRL: 52 / Derived from other figures: 2
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