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Kissei PharmaceuticalKISSEI PHARMACEUTICAL CO.,LTD.4547東証プライム医薬品FY ending Mar 2026, consolidated, J-GAAP

Kissei Pharmaceutical revenue and profit

It lost about ¥3 for every ¥100 of sales at the operating level. Revenue changed +10.3% from the prior year, operating profit -150.7%.

Five-year trend

Revenue¥97.4B
FY ending Mar 2022: ¥65.4B¥65.4BFY ending Mar 2023: ¥67.5B¥67.5BFY ending Mar 2024: ¥75.6B¥75.6BFY ending Mar 2025: ¥88.3B¥88.3BFY ending Mar 2026: ¥97.4B¥97.4BFY22FY23FY24FY25FY26
Operating income-¥2.93B
FY ending Mar 2022: -¥1.4B-¥1.4BFY ending Mar 2023: -¥1.13B-¥1.13BFY ending Mar 2024: ¥4.02B¥4.02BFY ending Mar 2025: ¥5.77B¥5.77BFY ending Mar 2026: -¥2.93B-¥2.93BFY22FY23FY24FY25FY26
Operating margin-3.0%
FY ending Mar 2022: -2.1%-2.1%FY ending Mar 2023: -1.7%-1.7%FY ending Mar 2024: 5.3%5.3%FY ending Mar 2025: 6.5%6.5%FY ending Mar 2026: -3.0%-3.0%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin14.1%
Asset turnover0.38×
ROA5.3%
ROA5.3%
Financial leverage1.55×
ROE8.2%

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

Net margin14.1%
2022: 19.8%19.8%2023: 15.6%15.6%2024: 14.8%14.8%2025: 13.5%13.5%2026: 14.1%14.1%2223242526
Asset turnover0.38×
2022: 0.27×0.27×2023: 0.29×0.29×2024: 0.31×0.31×2025: 0.35×0.35×2026: 0.38×0.38×2223242526
ROA5.3%
2022: 5.4%5.4%2023: 4.6%4.6%2024: 4.6%4.6%2025: 4.7%4.7%2026: 5.3%5.3%2223242526
Financial leverage1.55×
2022: 1.55×1.55×2023: 1.46×1.46×2024: 1.49×1.49×2025: 1.54×1.54×2026: 1.55×1.55×2223242526
ROE8.2%
2022: 8.4%8.4%2023: 6.7%6.7%2024: 6.9%6.9%2025: 7.3%7.3%2026: 8.2%8.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202219.8%0.27×5.4%1.55×8.4%
202315.6%0.29×4.6%1.46×6.7%
202414.8%0.31×4.6%1.49×6.9%
202513.5%0.35×4.7%1.54×7.3%
202614.1%0.38×5.3%1.55×8.2%

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 ÷ revenue28.8%
2021: 35.2%35.2%2022: 36.8%36.8%2023: 36.4%36.4%2024: 32.9%32.9%2025: 30.6%30.6%2026: 28.8%28.8%212223242526
PPE ÷ total assets10.2%
2021: 9.0%9.0%2022: 10.1%10.1%2023: 11.1%11.1%2024: 9.5%9.5%2025: 11.1%11.1%2026: 10.2%10.2%212223242526
Goodwill ÷ parent equity0.1%
2024: 0.2%0.2%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Goodwill balance¥176M
2024: ¥309M¥309M2025: ¥242M¥242M2026: ¥176M¥176M212223242526

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.

R&D spending¥22.5B
2021: ¥9.63B¥9.63B2022: ¥10.4B¥10.4B2023: ¥10.4B¥10.4B2024: ¥9.47B¥9.47B2025: ¥12.9B¥12.9B2026: ¥22.5B¥22.5B212223242526
R&D / revenue23.1%
2021: 13.9%13.9%2022: 15.9%15.9%2023: 15.4%15.4%2024: 12.5%12.5%2025: 14.6%14.6%2026: 23.1%23.1%212223242526
Receivable days—
2021: 122d122d212223242526
Payable days47d
2021: 79d79d2022: 44d44d2023: 48d48d2024: 47d47d2025: 38d38d2026: 47d47d212223242526

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
Revenue65,38167,49375,57988,33097,406
Cost of revenue34,14335,11838,23844,26551,587
Gross profit31,23832,37437,34144,06545,818
SG&A32,64033,50333,32438,29148,745
Operating income-1,402-1,1294,0175,773-2,927
Pretax income16,50713,68014,44915,61016,891
Income tax3,4753,0463,1593,6342,930
Net income attributable to owners12,92110,52811,16011,96113,779
Operating margin-2.1%-1.7%5.3%6.5%-3.0%

Balance sheet (reported items)

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

Assets

Cash 20%
Property, plant and equipment 10%
1%
Investment securities 38%
Other assets 31%

Funding

3%
Other liabilities 13%
Equity 84%

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¥53B¥48.9B¥45.9B¥48.2B¥54B
Total assets¥238.1B¥221.2B¥260.9B¥244.1B¥275.1B
Net assets¥202.2B¥194.8B¥221.1B¥210.1B¥231.5B
Share capital¥24.4B¥24.4B¥24.4B¥24.4B¥24.4B
Property, plant and equipment¥24.1B¥24.6B¥24.9B¥27.1B¥28.1B
Intangible assets excluding goodwill¥1.57B¥1.51B¥1.99B¥1.89B¥1.97B
Goodwill——¥309M¥242M¥176M
Investment securities¥96.6B¥74.8B¥106.4B¥84.9B¥104.3B
Current assets¥99.3B¥100.6B¥104.6B¥107B¥115B
Current liabilities¥18.7B¥15B¥17.7B¥16.6B¥21.7B
Trade payables¥4.1B¥4.62B¥4.89B¥4.6B¥6.66B
Short-term borrowings¥1.64B¥1.49B¥1.34B¥1.28B¥1.25B
Total liabilities¥35.9B¥26.4B¥39.8B¥33.9B¥43.5B
Non-controlling interests¥794M¥914M¥1.11B¥1.12B¥1.39B
Equity attributable to owners of parent¥153.9B¥161.2B¥162.7B¥165.6B¥169.3B
Retained earnings¥118.2B¥125.6B¥127.3B¥131.5B¥136.3B
Treasury stock-¥12.9B-¥12.9B-¥13.2B-¥14.5B-¥15.5B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第81期(2025/04/01－2026/03/31)

    ID S100YFN32026-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(2024/04/01－2025/03/31)

    ID S100W31F2025-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第79期(2023/04/01－2024/03/31)

    ID S100TRIA2024-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(2022/04/01－2023/03/31)

    ID S100R0YK2023-06-22Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第77期(令和3年4月1日－令和4年3月31日)

    ID S100OOE82022-07-06Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(令和2年4月1日－令和3年3月31日)

    ID S100LO0H2021-06-24Open

Extracted from XBRL: 53 / Derived from other figures: 1

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