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Kyoei SteelKYOEI STEEL LTD.5440東証プライム鉄鋼FY ending Mar 2026, consolidated, J-GAAP

Kyoei Steel revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed -2.4% from the prior year, operating profit +10.7%.

Five-year trend

Revenue¥315.1B
FY ending Mar 2022: ¥292.7B¥292.7BFY ending Mar 2023: ¥355.7B¥355.7BFY ending Mar 2024: ¥321B¥321BFY ending Mar 2025: ¥322.8B¥322.8BFY ending Mar 2026: ¥315.1B¥315.1BFY22FY23FY24FY25FY26
Operating income¥17B
FY ending Mar 2022: ¥8.82B¥8.82BFY ending Mar 2023: ¥14.8B¥14.8BFY ending Mar 2024: ¥21.1B¥21.1BFY ending Mar 2025: ¥15.3B¥15.3BFY ending Mar 2026: ¥17B¥17BFY22FY23FY24FY25FY26
Operating margin5.4%
FY ending Mar 2022: 3.0%3.0%FY ending Mar 2023: 4.2%4.2%FY ending Mar 2024: 6.6%6.6%FY ending Mar 2025: 4.7%4.7%FY ending Mar 2026: 5.4%5.4%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.1%
Asset turnover0.87×
ROA2.7%
ROA2.7%
Financial leverage2.00×
ROE5.4%

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

Net margin3.1%
2022: 2.2%2.2%2023: 3.7%3.7%2024: 4.3%4.3%2025: 3.3%3.3%2026: 3.1%3.1%2223242526
Asset turnover0.87×
2022: 0.93×0.93×2023: 1.09×1.09×2024: 0.93×0.93×2025: 0.91×0.91×2026: 0.87×0.87×2223242526
ROA2.7%
2022: 2.0%2.0%2023: 4.0%4.0%2024: 4.0%4.0%2025: 3.1%3.1%2026: 2.7%2.7%2223242526
Financial leverage2.00×
2022: 2.07×2.07×2023: 2.08×2.08×2024: 2.07×2.07×2025: 2.02×2.02×2026: 2.00×2.00×2223242526
ROE5.4%
2022: 4.2%4.2%2023: 8.3%8.3%2024: 8.3%8.3%2025: 6.2%6.2%2026: 5.4%5.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.2%0.93×2.0%2.07×4.2%
20233.7%1.09×4.0%2.08×8.3%
20244.3%0.93×4.0%2.07×8.3%
20253.3%0.91×3.1%2.02×6.2%
20263.1%0.87×2.7%2.00×5.4%

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 ÷ revenue37.3%
2021: 41.7%41.7%2022: 33.9%33.9%2023: 28.7%28.7%2024: 31.6%31.6%2025: 34.0%34.0%2026: 37.3%37.3%212223242526
PPE ÷ total assets31.5%
2021: 33.4%33.4%2022: 31.6%31.6%2023: 30.3%30.3%2024: 28.6%28.6%2025: 31.1%31.1%2026: 31.5%31.5%212223242526
Goodwill ÷ parent equity0.3%
2021: 0.7%0.7%2022: 0.6%0.6%2023: 0.5%0.5%2024: 0.5%0.5%2025: 0.4%0.4%2026: 0.3%0.3%212223242526
Goodwill balance¥613M
2021: ¥978M¥978M2022: ¥856M¥856M2023: ¥829M¥829M2024: ¥797M¥797M2025: ¥702M¥702M2026: ¥613M¥613M212223242526

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¥345M
2021: ¥231M¥231M2022: ¥235M¥235M2023: ¥272M¥272M2024: ¥236M¥236M2025: ¥283M¥283M2026: ¥345M¥345M212223242526
R&D / revenue0.1%
2021: 0.1%0.1%2022: 0.1%0.1%2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Receivable days—
2021: 65d65d212223242526
Payable days32d
2021: 28d28d2022: 26d26d2023: 19d19d2024: 29d29d2025: 27d27d2026: 32d32d212223242526

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
Revenue292,719355,715320,982322,849315,106
Cost of revenue266,820321,441279,012284,523275,131
Gross profit25,89934,27441,96938,32739,975
SG&A17,08019,45520,91522,99423,008
Operating income8,81914,81921,05515,33216,967
Pretax income10,08113,62915,31616,28015,145
Income tax2,3472,0895,6625,6564,083
Net income attributable to owners6,32213,10813,82610,7919,864
Operating margin3.0%4.2%6.6%4.7%5.4%

Balance sheet (reported items)

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

Assets

Cash 12%
Property, plant and equipment 32%
1%
5%
Other assets 50%

Funding

6%
Interest-bearing debt 21%
Other liabilities 14%
Equity 59%

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¥27.2B¥32.4B¥26.1B¥38.1B¥46.4B
Total assets¥314.2B¥337.7B¥354.2B¥352.8B¥373.1B
Net assets¥175.7B¥190.2B¥201.4B¥209.2B¥218.8B
Share capital¥18.5B¥18.5B¥18.5B¥18.5B¥18.5B
Property, plant and equipment¥99.2B¥102.2B¥101.4B¥109.7B¥117.4B
Intangible assets excluding goodwill¥4.17B¥3.99B¥3.77B¥3.08B¥2.84B
Goodwill¥856M¥829M¥797M¥702M¥613M
Investment securities¥11.2B¥14.1B¥18.1B¥17.5B¥17.6B
Current assets¥194B¥210.6B¥220.9B¥211.3B¥221.1B
Current liabilities¥92.8B¥99.6B¥107.9B¥103.3B¥102.7B
Trade payables¥18.7B¥16.4B¥22.3B¥21.4B¥23.9B
Short-term borrowings¥54.4B¥58.3B¥55.4B¥50.4B¥41B
Long-term borrowings¥25.3B¥27B¥22.6B¥18.1B¥28.7B
Bonds¥10B¥10B¥10B¥10B¥10B
Interest-bearing debt¥89.7Bderived¥95.3Bderived¥88Bderived¥78.4Bderived¥79.6Bderived
Total liabilities¥138.5B¥147.5B¥152.8B¥143.7B¥154.3B
Non-controlling interests¥12.7B¥10.5B¥6.79B¥6.17B¥7.15B
Equity attributable to owners of parent¥152.1B¥162B¥172.3B¥178.5B¥184.4B
Retained earnings¥114.1B¥125.5B¥135.8B¥142B¥148B
Treasury stock-¥1.7B-¥1.7B-¥1.7B-¥1.7B-¥1.7B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第82期(2025/04/01－2026/03/31)

    ID S100YGQP2026-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第81期(2024/04/01－2025/03/31)

    ID S100W2DI2025-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(2023/04/01－2024/03/31)

    ID S100TSUG2024-06-26Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第79期(2022/04/01－2023/03/31)

    ID S100RWTG2023-09-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(令和3年4月1日－令和4年3月31日)

    ID S100OFNT2022-06-27Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第77期(令和2年4月1日－令和3年3月31日)

    ID S100NAS62022-01-31Open

Extracted from XBRL: 54 / Derived from other figures: 2

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