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Kato SangyoKATO SANGYO CO.,LTD.9869東証プライム卸売業FY ending Sep 2025, consolidated, J-GAAP

Kato Sangyo revenue and profit

Out of every ¥100 of sales, about ¥1 is left as operating profit. Revenue changed +3.8% from the prior year, operating profit +7.9%.

Five-year trend

Revenue¥1.18T
FY ending Sep 2021: ¥1.13T¥1.13TFY ending Sep 2022: ¥1T¥1TFY ending Sep 2023: ¥1.07T¥1.07TFY ending Sep 2024: ¥1.14T¥1.14TFY ending Sep 2025: ¥1.18T¥1.18TFY21FY22FY23FY24FY25
Operating income¥18.2B
FY ending Sep 2021: ¥11.6B¥11.6BFY ending Sep 2022: ¥13.4B¥13.4BFY ending Sep 2023: ¥16.7B¥16.7BFY ending Sep 2024: ¥16.9B¥16.9BFY ending Sep 2025: ¥18.2B¥18.2BFY21FY22FY23FY24FY25
Operating margin1.5%
FY ending Sep 2021: 1.0%1.0%FY ending Sep 2022: 1.3%1.3%FY ending Sep 2023: 1.6%1.6%FY ending Sep 2024: 1.5%1.5%FY ending Sep 2025: 1.5%1.5%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin1.1%
Asset turnover2.56×
ROA2.9%
ROA2.9%
Financial leverage3.48×
ROE10.0%

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

Net margin1.1%
2021: 0.7%0.7%2022: 1.1%1.1%2023: 1.1%1.1%2024: 1.3%1.3%2025: 1.1%1.1%2122232425
Asset turnover2.56×
2021: 2.94×2.94×2022: 2.56×2.56×2023: 2.50×2.50×2024: 2.50×2.50×2025: 2.56×2.56×2122232425
ROA2.9%
2021: 2.2%2.2%2022: 2.9%2.9%2023: 2.8%2.8%2024: 3.2%3.2%2025: 2.9%2.9%2122232425
Financial leverage3.48×
2021: 3.41×3.41×2022: 3.40×3.40×2023: 3.48×3.48×2024: 3.55×3.55×2025: 3.48×3.48×2122232425
ROE10.0%
2021: 7.4%7.4%2022: 9.8%9.8%2023: 9.8%9.8%2024: 11.3%11.3%2025: 10.0%10.0%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20210.7%2.94×2.2%3.41×7.4%
20221.1%2.56×2.9%3.40×9.8%
20231.1%2.50×2.8%3.48×9.8%
20241.3%2.50×3.2%3.55×11.3%
20251.1%2.56×2.9%3.48×10.0%

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 ÷ revenue5.4%
2020: 3.9%3.9%2021: 4.3%4.3%2022: 4.7%4.7%2023: 4.7%4.7%2024: 4.9%4.9%2025: 5.4%5.4%202122232425
PPE ÷ total assets13.7%
2020: 11.8%11.8%2021: 12.5%12.5%2022: 11.8%11.8%2023: 11.2%11.2%2024: 12.2%12.2%2025: 13.7%13.7%202122232425
Goodwill ÷ parent equity0.8%
2020: 0.6%0.6%2021: 0.8%0.8%2022: 0.6%0.6%2023: 0.8%0.8%2024: 1.3%1.3%2025: 0.8%0.8%202122232425
Goodwill balance¥1.09B
2020: ¥705M¥705M2021: ¥943M¥943M2022: ¥673M¥673M2023: ¥1.07B¥1.07B2024: ¥1.62B¥1.62B2025: ¥1.09B¥1.09B202122232425

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.

Receivable days—
2020: 43d43d2021: 44d44d202122232425
Payable days79d
2020: 69d69d2021: 70d70d2022: 83d83d2023: 91d91d2024: 82d82d2025: 79d79d202122232425

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 Sep 2021FY ending Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Revenue1,129,8881,003,2211,066,0721,135,7781,178,768
Cost of revenue1,056,536935,511992,9131,057,3261,096,043
Gross profit73,35267,71073,15878,45282,725
SG&A62,70558,32761,29566,56370,020
Operating income11,61213,41316,73116,85618,180
Pretax income12,89617,24818,80923,34620,669
Income tax4,2125,4605,9027,8546,557
Net income attributable to owners8,38511,27612,00214,45913,228
Operating margin1.0%1.3%1.6%1.5%1.5%

Balance sheet (reported items)

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

Assets

Cash 15%
Property, plant and equipment 14%
2%
Investment securities 14%
Other assets 55%

Funding

Trade payables 51%
Other liabilities 11%
Equity 38%

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

ItemFY ending Sep 2021FY ending Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Cash and equivalents¥81.3B¥82.2B¥83.5B¥90.3B¥70.9B
Total assets¥384.1B¥400.8B¥453B¥454.7B¥466.3B
Net assets¥135.6B¥140.2B¥155.7B¥162.9B¥177B
Share capital¥5.93B¥5.93B¥5.93B¥5.93B¥5.93B
Trade receivables¥136.9B————
Property, plant and equipment¥48.1B¥47.3B¥50.6B¥55.5B¥63.9B
Intangible assets excluding goodwill¥6.52B¥5.77B¥7.38B¥7.28B¥8.03B
Goodwill¥943M¥673M¥1.07B¥1.62B¥1.09B
Investment securities¥48.4B¥48.2B¥56.5B¥58.1B¥66.8B
Current assets¥255.5B¥271.6B¥311.4B¥305.5B¥297.8B
Current liabilities¥223.3B¥237.2B¥272.3B¥265.9B¥261.1B
Trade payables¥203B¥212.3B¥246.6B¥238B¥236.8B
Short-term borrowings¥3.69B¥4.23B¥5.65B¥4.9B¥4.52B
Long-term borrowings¥136M——¥273M¥211M
Total liabilities¥248.5B¥260.6B¥297.3B¥291.8B¥289.3B
Non-controlling interests¥5.36B¥5.06B¥5.99B¥7.14B¥7.99B
Equity attributable to owners of parent¥112.7B¥118.1B¥127.1B¥128.8B¥135.8B
Retained earnings¥107.7B¥116.4B¥116.4B¥127.4B¥136.4B
Treasury stock-¥9.7B-¥12.7B-¥3.86B-¥13B-¥14.9B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第79期(2024/10/01－2025/09/30)

    ID S100XA3X2025-12-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(2023/10/01－2024/09/30)

    ID S100UXYD2024-12-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(2022/10/01－2023/09/30)

    ID S100SH132023-12-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(令和3年10月1日－令和4年9月30日)

    ID S100PTJ72022-12-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第75期(令和2年10月1日－令和3年9月30日)

    ID S100N1H72021-12-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第74期(令和1年10月1日－令和2年9月30日)

    ID S100KCU42020-12-21Open

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