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Kintetsu Group HoldingsKintetsu Group Holdings Co.,Ltd.9041東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

Kintetsu Group Holdings revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +0.5% from the prior year, operating profit +6.0%.

Five-year trend

Revenue¥1.75T
FY ending Mar 2022: ¥691.5B¥691.5BFY ending Mar 2023: ¥1.56T¥1.56TFY ending Mar 2024: ¥1.63T¥1.63TFY ending Mar 2025: ¥1.74T¥1.74TFY ending Mar 2026: ¥1.75T¥1.75TFY22FY23FY24FY25FY26
Operating income¥89.4B
FY ending Mar 2022: ¥3.86B¥3.86BFY ending Mar 2023: ¥67.1B¥67.1BFY ending Mar 2024: ¥87.4B¥87.4BFY ending Mar 2025: ¥84.4B¥84.4BFY ending Mar 2026: ¥89.4B¥89.4BFY22FY23FY24FY25FY26
Operating margin5.1%
FY ending Mar 2022: 0.6%0.6%FY ending Mar 2023: 4.3%4.3%FY ending Mar 2024: 5.4%5.4%FY ending Mar 2025: 4.8%4.8%FY ending Mar 2026: 5.1%5.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.1%
Asset turnover0.69×
ROA2.1%
ROA2.1%
Financial leverage5.85×
ROE12.3%

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

Net margin3.1%
2022: 6.2%6.2%2023: 5.7%5.7%2024: 2.9%2.9%2025: 2.7%2.7%2026: 3.1%3.1%2223242526
Asset turnover0.69×
2022: 0.36×0.36×2023: 0.72×0.72×2024: 0.67×0.67×2025: 0.70×0.70×2026: 0.69×0.69×2223242526
ROA2.1%
2022: 2.3%2.3%2023: 4.1%4.1%2024: 2.0%2.0%2025: 1.9%1.9%2026: 2.1%2.1%2223242526
Financial leverage5.85×
2022: 7.08×7.08×2023: 7.08×7.08×2024: 6.73×6.73×2025: 6.22×6.22×2026: 5.85×5.85×2223242526
ROE12.3%
2022: 16.0%16.0%2023: 29.1%29.1%2024: 13.2%13.2%2025: 11.7%11.7%2026: 12.3%12.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20226.2%0.36×2.3%7.08×16.0%
20235.7%0.72×4.1%7.08×29.1%
20242.9%0.67×2.0%6.73×13.2%
20252.7%0.70×1.9%6.22×11.7%
20263.1%0.69×2.1%5.85×12.3%

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 ÷ revenue83.6%
2021: 194.9%194.9%2022: 186.4%186.4%2023: 87.4%87.4%2024: 84.0%84.0%2025: 79.5%79.5%2026: 83.6%83.6%212223242526
PPE ÷ total assets56.4%
2021: 69.5%69.5%2022: 68.0%68.0%2023: 56.3%56.3%2024: 55.8%55.8%2025: 55.2%55.2%2026: 56.4%56.4%212223242526
Goodwill ÷ parent equity10.8%
2021: 0.0%0.0%2022: 0.0%0.0%2023: 18.3%18.3%2024: 15.5%15.5%2025: 13.5%13.5%2026: 10.8%10.8%212223242526
Goodwill balance¥49.4B
2021: ¥22M¥22M2022: ¥13M¥13M2023: ¥62.5B¥62.5B2024: ¥59.3B¥59.3B2025: ¥56B¥56B2026: ¥49.4B¥49.4B212223242526

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—
2021: 23d23d212223242526

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
Revenue691,5121,561,0021,629,5291,741,7871,750,307
Cost of revenue—————
Gross profit—————
SG&A114,704187,869225,286236,609240,565
Operating income3,86467,14487,43084,39989,436
Pretax income52,138106,88477,07682,40682,568
Income tax9,13415,36424,08027,70720,024
Net income attributable to owners42,75588,77947,80846,71653,771
Operating margin0.6%4.3%5.4%4.8%5.1%

Balance sheet (reported items)

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

Assets

8%
Property, plant and equipment 56%
8%
3%
Other assets 25%

Funding

4%
Interest-bearing debt 49%
Other liabilities 20%
Equity 27%
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¥75.8B¥208.2B¥241.7B¥231.7B¥200.1B
Total assets¥1.9T¥2.42T¥2.45T¥2.51T¥2.59T
Net assets¥421.8B¥500.3B¥585.6B¥613.7B¥692B
Share capital¥126.5B¥126.5B¥126.5B¥126.5B¥126.5B
Property, plant and equipment¥1.29T¥1.36T¥1.37T¥1.39T¥1.46T
Intangible assets excluding goodwill¥14B¥169.9B¥167.5B¥161.3B¥151.9B
Goodwill¥13M¥62.5B¥59.3B¥56B¥49.4B
Investment securities¥141.3B¥58.8B¥66B¥70.1B¥91.5B
Current assets¥331.6B¥702B¥720.8B¥761.2B¥746.5B
Current liabilities¥504B¥779.8B¥713.3B¥761.6B¥640.5B
Trade payables¥49.1B¥133.5B¥122.4B¥117.7B¥121.1B
Short-term borrowings¥204B¥273.2B¥230.4B¥256.5B¥215.4B
Long-term borrowings¥503.1B¥575.9B¥634.4B¥641.5B¥733.4B
Bonds¥300.2B¥342.1B¥298.9B¥271.8B¥313.6B
Interest-bearing debt¥1.01Tderived¥1.19Tderived¥1.16Tderived¥1.17Tderived¥1.26Tderived
Total liabilities¥1.47T¥1.92T¥1.87T¥1.89T¥1.9T
Non-controlling interests¥43.1B¥58.4B¥63.8B¥69.6B¥80.3B
Equity attributable to owners of parent¥267.8B¥342B¥383.1B¥414.8B¥456.6B
Retained earnings¥80.6B¥161.8B¥203B¥234.8B¥275.6B
Treasury stock-¥1.15B-¥1.16B-¥1.19B-¥1.2B-¥1.25B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第115期(2025/04/01－2026/03/31)

    ID S100YCLR2026-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第114期(2024/04/01－2025/03/31)

    ID S100VZTK2025-06-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第113期(2023/04/01－2024/03/31)

    ID S100TPG92024-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(2022/04/01－2023/03/31)

    ID S100R63S2023-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第111期(令和3年4月1日－令和4年3月31日)

    ID S100O86D2022-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第110期(令和2年4月1日－令和3年3月31日)

    ID S100LKVC2021-06-21Open

Extracted from XBRL: 52 / Derived from other figures: 2

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