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KokuyoKOKUYO CO.,LTD.7984東証プライムその他製品FY ending Dec 2025, consolidated, J-GAAP

Kokuyo revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +6.2% from the prior year, operating profit +16.5%.

Five-year trend

Revenue¥359.9B
FY ending Dec 2021: ¥320.2B¥320.2BFY ending Dec 2022: ¥300.9B¥300.9BFY ending Dec 2023: ¥328.8B¥328.8BFY ending Dec 2024: ¥338.8B¥338.8BFY ending Dec 2025: ¥359.9B¥359.9BFY21FY22FY23FY24FY25
Operating income¥26.2B
FY ending Dec 2021: ¥20B¥20BFY ending Dec 2022: ¥19.1B¥19.1BFY ending Dec 2023: ¥23.8B¥23.8BFY ending Dec 2024: ¥22.5B¥22.5BFY ending Dec 2025: ¥26.2B¥26.2BFY21FY22FY23FY24FY25
Operating margin7.3%
FY ending Dec 2021: 6.2%6.2%FY ending Dec 2022: 6.4%6.4%FY ending Dec 2023: 7.2%7.2%FY ending Dec 2024: 6.6%6.6%FY ending Dec 2025: 7.3%7.3%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin6.0%
Asset turnover1.00×
ROA6.0%
ROA6.0%
Financial leverage1.48×
ROE8.9%

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

Net margin6.0%
2021: 4.3%4.3%2022: 6.1%6.1%2023: 5.8%5.8%2024: 6.4%6.4%2025: 6.0%6.0%2122232425
Asset turnover1.00×
2021: 0.99×0.99×2022: 0.91×0.91×2023: 0.94×0.94×2024: 0.94×0.94×2025: 1.00×1.00×2122232425
ROA6.0%
2021: 4.2%4.2%2022: 5.5%5.5%2023: 5.5%5.5%2024: 6.0%6.0%2025: 6.0%6.0%2122232425
Financial leverage1.48×
2021: 1.53×1.53×2022: 1.53×1.53×2023: 1.53×1.53×2024: 1.51×1.51×2025: 1.48×1.48×2122232425
ROE8.9%
2021: 6.5%6.5%2022: 8.4%8.4%2023: 8.4%8.4%2024: 9.1%9.1%2025: 8.9%8.9%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20214.3%0.99×4.2%1.53×6.5%
20226.1%0.91×5.5%1.53×8.4%
20235.8%0.94×5.5%1.53×8.4%
20246.4%0.94×6.0%1.51×9.1%
20256.0%1.00×6.0%1.48×8.9%

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 ÷ revenue18.2%
2020: 19.5%19.5%2021: 18.6%18.6%2022: 20.3%20.3%2023: 18.7%18.7%2024: 18.7%18.7%2025: 18.2%18.2%202122232425
PPE ÷ total assets18.5%
2020: 18.3%18.3%2021: 18.4%18.4%2022: 18.1%18.1%2023: 17.2%17.2%2024: 17.4%17.4%2025: 18.5%18.5%202122232425
Goodwill ÷ parent equity0.2%
2020: 0.1%0.1%2021: 0.0%0.0%2022: 2.4%2.4%2023: 2.3%2.3%2024: 0.2%0.2%2025: 0.2%0.2%202122232425
Goodwill balance¥373M
2020: ¥105M¥105M2021: ¥86M¥86M2022: ¥5.32B¥5.32B2023: ¥5.42B¥5.42B2024: ¥471M¥471M2025: ¥373M¥373M202122232425

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¥1.54B
2020: ¥1.4B¥1.4B2021: ¥1.62B¥1.62B2022: ¥1.68B¥1.68B2023: ¥1.75B¥1.75B2024: ¥1.7B¥1.7B2025: ¥1.54B¥1.54B202122232425
R&D / revenue0.4%
2020: 0.5%0.5%2021: 0.5%0.5%2022: 0.6%0.6%2023: 0.5%0.5%2024: 0.5%0.5%2025: 0.4%0.4%202122232425
Receivable days—
2020: 76d76d2021: 73d73d202122232425
Payable days99d
2020: 97d97d2021: 94d94d2022: 107d107d2023: 100d100d2024: 97d97d2025: 99d99d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue320,170300,929328,753338,837359,876
Cost of revenue204,462184,258201,360205,413215,407
Gross profit115,707116,671127,392133,424144,469
SG&A95,70397,543103,561110,892118,222
Operating income20,00419,12823,83022,53126,247
Pretax income21,80023,17127,79334,13031,215
Income tax7,9934,7508,51712,2009,502
Net income attributable to owners13,70318,23719,06921,78721,473
Operating margin6.2%6.4%7.2%6.6%7.3%

Balance sheet (reported items)

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

Assets

Cash 31%
Property, plant and equipment 19%
4%
5%
Other assets 41%

Funding

Trade payables 16%
Other liabilities 12%
Equity 72%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥100.6B¥98.4B¥115.2B¥132.1B¥110.6B
Total assets¥324.6B¥337.5B¥358.4B¥363B¥355B
Net assets¥230.1B¥239.6B¥253.4B¥264.1B¥255.5B
Share capital¥15.8B¥15.8B¥15.8B¥15.8B¥15.8B
Trade receivables¥63.9B————
Property, plant and equipment¥59.6B¥61.1B¥61.5B¥63.2B¥65.6B
Intangible assets excluding goodwill¥7.26B¥16.5B¥16.6B¥13B¥15.1B
Goodwill¥86M¥5.32B¥5.42B¥471M¥373M
Investment securities¥45B¥35.6B¥40.1B¥22.4B¥18B
Current assets¥203.2B¥215B¥230.2B¥252.9B¥242.9B
Current liabilities¥77.5B¥79.5B¥91.3B¥87.7B¥89.1B
Trade payables¥52.5B¥54B¥55.2B¥54.4B¥58.3B
Short-term borrowings¥4.08B¥4.33B¥4.24B¥3.96B¥3.37B
Long-term borrowings¥5.12B¥5B—¥101M¥16M
Total liabilities¥94.5B¥97.9B¥105B¥98.9B¥99.6B
Non-controlling interests¥1.64B¥1.87B¥1.58B¥3.51B¥3.78B
Equity attributable to owners of parent¥211.5B¥222.5B¥232.5B¥246.2B¥238.1B
Retained earnings¥195.7B¥207.8B¥210.7B¥216.2B¥211.9B
Treasury stock-¥18.2B-¥19.2B-¥12.2B-¥4.03B-¥7.71B

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 S100XUE12026-03-26Open

  • EDINET (FSA Japan)

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

    ID S100VILU2025-03-31Open

  • EDINET (FSA Japan)

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

    ID S100T6572024-03-29Open

  • EDINET (FSA Japan)

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

    ID S100QI7E2023-03-31Open

  • 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 S100NSRY2022-03-31Open

  • 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 S100L2XS2021-03-31Open

Extracted from XBRL: 54 / Derived from other figures: 1

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