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Kyowa KirinKyowa Kirin Co.,Ltd.4151東証プライム医薬品FY ending Dec 2025, consolidated, IFRS

Kyowa Kirin revenue and profit

Out of every ¥100 of sales, about ¥41 is left as operating profit. Revenue changed +0.3% from the prior year.

Five-year trend

Revenue¥496.8B
FY ending Dec 2021: ¥352.2B¥352.2BFY ending Dec 2022: ¥398.4B¥398.4BFY ending Dec 2023: ¥442.2B¥442.2BFY ending Dec 2024: ¥495.6B¥495.6BFY ending Dec 2025: ¥496.8B¥496.8BFY21FY22FY23FY24FY25

What drives ROE

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

Net margin13.5%
Asset turnover0.46×
ROA6.2%
ROA6.2%
Financial leverage1.25×
ROE7.7%

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

Net margin13.5%
2021: 14.9%14.9%2022: 13.4%13.4%2023: 18.4%18.4%2024: 12.1%12.1%2025: 13.5%13.5%2122232425
Asset turnover0.46×
2021: 0.38×0.38×2022: 0.43×0.43×2023: 0.45×0.45×2024: 0.47×0.47×2025: 0.46×0.46×2122232425
ROA6.2%
2021: 5.7%5.7%2022: 5.8%5.8%2023: 8.3%8.3%2024: 5.7%5.7%2025: 6.2%6.2%2122232425
Financial leverage1.25×
2021: 1.25×1.25×2022: 1.24×1.24×2023: 1.23×1.23×2024: 1.24×1.24×2025: 1.25×1.25×2122232425
ROE7.7%
2021: 7.1%7.1%2022: 7.1%7.1%2023: 10.2%10.2%2024: 7.1%7.1%2025: 7.7%7.7%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
202114.9%0.38×5.7%1.25×7.1%
202213.4%0.43×5.8%1.24×7.1%
202318.4%0.45×8.3%1.23×10.2%
202412.1%0.47×5.7%1.24×7.1%
202513.5%0.46×6.2%1.25×7.7%

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 ÷ revenue28.4%
2020: 23.9%23.9%2021: 22.3%22.3%2022: 22.4%22.4%2023: 21.4%21.4%2024: 22.5%22.5%2025: 28.4%28.4%202122232425
PPE ÷ total assets12.7%
2020: 9.5%9.5%2021: 8.5%8.5%2022: 9.5%9.5%2023: 9.2%9.2%2024: 10.4%10.4%2025: 12.7%12.7%202122232425
Goodwill ÷ parent equity20.5%
2020: 19.0%19.0%2021: 18.5%18.5%2022: 17.8%17.8%2023: 16.8%16.8%2024: 21.3%21.3%2025: 20.5%20.5%202122232425
Goodwill balance¥183.5B
2020: ¥132.7B¥132.7B2021: ¥136.4B¥136.4B2022: ¥135.8B¥135.8B2023: ¥140.4B¥140.4B2024: ¥181B¥181B2025: ¥183.5B¥183.5B202122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue352,246398,371442,233495,558496,826
Cost of revenue87,84986,915111,207132,611127,934
Gross profit264,398311,455331,026362,947368,892
SG&A145,608166,185163,078167,537165,434
Operating income—————
Pretax income60,05067,57297,24683,45387,221
Income tax7,70314,00016,05823,58320,182
Net income attributable to owners52,34753,57381,18859,87067,040
Operating margin—————

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 13%
Intangibles and goodwill 16%
Other assets 51%

Funding

Other liabilities 19%
Equity 81%

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¥335.1B¥339.2B¥403.1B¥244.7B¥218.8B
Total assets¥921.9B¥939.9B¥1.03T¥1.07T¥1.11T
Net assets¥737.2B¥762.8B¥836.4B¥850.8B¥893.3B
Share capital¥26.7B¥26.7B¥26.7B¥26.7B¥26.7B
Property, plant and equipment¥78.7B¥89.1B¥94.5B¥111.5B¥141.2B
Goodwill¥136.4B¥135.8B¥140.4B¥181B¥183.5B
Current assets¥518.2B¥542.2B¥611.1B¥504B¥493.3B
Total liabilities¥184.7B¥177.1B¥189.5B¥216.6B¥214.5B
Equity attributable to owners of parent¥737.2B¥762.8B¥836.4B¥850.8B¥893.3B
Retained earnings¥255.5B¥285.8B¥338.8B¥371.1B¥406.3B
Treasury stock-¥3.36B-¥3.18B-¥2.93B-¥5.89B-¥5.58B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第103期(2025/01/01－2025/12/31)

    ID S100XPTY2026-03-10Open

  • EDINET (FSA Japan)

    有価証券報告書－第102期(2024/01/01－2024/12/31)

    ID S100VDMK2025-03-11Open

  • EDINET (FSA Japan)

    有価証券報告書－第101期(2023/01/01－2023/12/31)

    ID S100T1DP2024-03-12Open

  • EDINET (FSA Japan)

    有価証券報告書－第100期(2022/01/01－2022/12/31)

    ID S100QCX22023-03-09Open

  • EDINET (FSA Japan)

    有価証券報告書－第99期(令和3年1月1日－令和3年12月31日)

    ID S100NMKA2022-03-08Open

  • EDINET (FSA Japan)

    有価証券報告書－第98期(令和2年1月1日－令和2年12月31日)

    ID S100KWXR2021-03-09Open

Extracted from XBRL: 42 / Derived from other figures: 1

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