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KeiwaKEIWA Incorporated4251東証プライム化学FY ending Dec 2025, consolidated, J-GAAP

Keiwa FY ending Dec 2023 results

About 38% of Keiwa's sales come from Optical sheets, with Optical Products Segment and Life and Environment Innovation Segment making up much of the rest.

Out of every ¥100 of sales, about ¥14 is left as operating profit.

Revenue changed -16.7% from the prior year, operating profit -55.9%.

Revenue and profit pattern

Revenue and profit down

Revenue -16.7% · profit -55.9%, calculated from disclosed figures.

Operating leverage: 3.34× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2022 → FY ending Dec 2023

Revenue
-16.7%¥21.1B → ¥17.6B
Gross profit
-29.0%¥10.2B → ¥7.24B
Operating income
-55.9%¥5.57B → ¥2.46B
Net income attributable to owners
-59.2%¥4.86B → ¥1.98B
Operating cash flow
-63.8%¥6.76B → ¥2.45B
Free cash flow
-123.8%¥2.19B → -¥520.2M

Where the money goes

FY ending Dec 2022 → FY ending Dec 2023

※ Segment revenues include inter-segment sales and are scaled to consolidated revenue

Where ¥100 of sales goes

For every ¥100 Keiwa sells, how much goes where, and how much is kept.

FY ending Dec 2023
Cost of sales
¥59
SG&A
¥27
Operating profit
¥14
Net profit kept
¥11

Annual margin trends

Gross margin41.2%
FY ending Dec 2019: 25.0%25.0%FY ending Dec 2020: 28.7%28.7%FY ending Dec 2021: 39.7%39.7%FY ending Dec 2022: 48.3%48.3%FY ending Dec 2023: 41.2%41.2%FY19FY20FY21FY22FY23
Operating margin14.0%
FY ending Dec 2019: 5.9%5.9%FY ending Dec 2020: 7.5%7.5%FY ending Dec 2021: 17.3%17.3%FY ending Dec 2022: 26.4%26.4%FY ending Dec 2023: 14.0%14.0%FY19FY20FY21FY22FY23
Net margin11.3%
FY ending Dec 2019: 4.4%4.4%FY ending Dec 2020: 5.0%5.0%FY ending Dec 2021: 14.2%14.2%FY ending Dec 2022: 23.0%23.0%FY ending Dec 2023: 11.3%11.3%FY19FY20FY21FY22FY23

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2023
  • Optical sheets¥13.4B
    38%
    Op. margin 41.6%
  • Optical Products Segment¥13.4B
    38%
    Op. margin 41.6%Industry: Chemicals
  • Life and Environment Innovation Segment¥4B
    11%
    Op. margin 8.5%
  • Functional Products Segment¥4B
    11%
    Op. margin 8.5%Industry: Chemicals
  • The Plaster Tape to Rescue the Earth Segment¥133.9M
    0%
    Op. margin -328.9%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第79期(2025/01/01－2025/12/31)

    ID S100XS6Z2026-03-23Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第78期(2024/01/01－2024/12/31)

    ID S100VNQX2025-04-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(2023/01/01－2023/12/31)

    ID S100T4BT2024-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(2022/01/01－2022/12/31)

    ID S100QGDP2023-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第75期(令和3年1月1日－令和3年12月31日)

    ID S100NQND2022-03-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第74期(令和2年1月1日－令和2年12月31日)

    ID S100L0IY2021-03-26Open

Extracted from XBRL: 51 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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