KyowaKyowa Corporation6570東証スタンダードサービス業FY ending Mar 2026, consolidated, J-GAAP

Kyowa revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +24.1% from the prior year, operating profit +35.7%.

Five-year trend

Revenue¥20.7B
FY ending Mar 2022: ¥10.4B¥10.4BFY ending Mar 2023: ¥12.4B¥12.4BFY ending Mar 2024: ¥14.6B¥14.6BFY ending Mar 2025: ¥16.7B¥16.7BFY ending Mar 2026: ¥20.7B¥20.7BFY22FY23FY24FY25FY26
Operating income¥1.76B
FY ending Mar 2022: ¥274.5M¥274.5MFY ending Mar 2023: ¥717.2M¥717.2MFY ending Mar 2024: ¥1.08B¥1.08BFY ending Mar 2025: ¥1.29B¥1.29BFY ending Mar 2026: ¥1.76B¥1.76BFY22FY23FY24FY25FY26
Operating margin8.5%
FY ending Mar 2022: 2.6%2.6%FY ending Mar 2023: 5.8%5.8%FY ending Mar 2024: 7.4%7.4%FY ending Mar 2025: 7.8%7.8%FY ending Mar 2026: 8.5%8.5%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.4%
Asset turnover1.22×
ROA6.6%
ROA6.6%
Financial leverage3.28×
ROE21.6%

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

Net margin5.4%
2022: 1.2%1.2%2023: 3.5%3.5%2024: 4.4%4.4%2025: 5.5%5.5%2026: 5.4%5.4%2223242526
Asset turnover1.22×
2022: 0.86×0.86×2023: 0.98×0.98×2024: 1.06×1.06×2025: 1.13×1.13×2026: 1.22×1.22×2223242526
ROA6.6%
2022: 1.1%1.1%2023: 3.4%3.4%2024: 4.7%4.7%2025: 6.2%6.2%2026: 6.6%6.6%2223242526
Financial leverage3.28×
2022: 3.99×3.99×2023: 3.97×3.97×2024: 3.79×3.79×2025: 3.45×3.45×2026: 3.28×3.28×2223242526
ROE21.6%
2022: 4.3%4.3%2023: 13.5%13.5%2024: 17.8%17.8%2025: 21.4%21.4%2026: 21.6%21.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.2%0.86×1.1%3.99×4.3%
20233.5%0.98×3.4%3.97×13.5%
20244.4%1.06×4.7%3.79×17.8%
20255.5%1.13×6.2%3.45×21.4%
20265.4%1.22×6.6%3.28×21.6%

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 ÷ revenue39.4%
2022: 40.1%40.1%2023: 40.1%40.1%2024: 37.5%37.5%2025: 38.3%38.3%2026: 39.4%39.4%2223242526
PPE ÷ total assets43.8%
2022: 34.5%34.5%2023: 37.6%37.6%2024: 38.4%38.4%2025: 41.6%41.6%2026: 43.8%43.8%2223242526
Goodwill ÷ parent equity3.0%
2026: 3.0%3.0%2223242526
Goodwill balance¥169.3M
2026: ¥169.3M¥169.3M2223242526

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.

Payable days65d
2022: 73d73d2023: 112d112d2024: 70d70d2025: 68d68d2026: 65d65d2223242526

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
Revenue10,38612,44414,58016,70520,730
Cost of revenue4,6095,5776,9017,8399,996
Gross profit5,7776,8687,6798,86710,734
SG&A5,5036,1506,5967,5728,977
Operating income2747171,0831,2951,757
Pretax income2166931,0541,1711,732
Income tax87260407254610
Net income attributable to owners1294336479171,123
Operating margin2.6%5.8%7.4%7.8%8.5%

Balance sheet (reported items)

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

Assets

Cash 23%
Property, plant and equipment 44%
2%
2%
Other assets 29%

Funding

Trade payables 9%
Other liabilities 59%
Equity 32%

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¥4.47B¥4.14B¥4.59B¥4.06B¥4.38B
Total assets¥12.1B¥13.3B¥14.2B¥15.4B¥18.6B
Net assets¥3.09B¥3.4B¥3.99B¥4.87B¥5.9B
Share capital¥709.7M¥709.7M¥709.7M¥709.7M¥709.7M
Property, plant and equipment¥4.17B¥4.99B¥5.46B¥6.4B¥8.17B
Intangible assets excluding goodwill¥48.6M¥45.4M¥42.8M¥43.2M¥203.8M
Goodwill————¥169.3M
Investment securities¥154.3M¥141.8M¥206.5M¥330.7M¥381.1M
Current assets¥6.2B¥6.54B¥6.94B¥6.69B¥7.71B
Current liabilities¥3.66B¥5.49B¥5.06B¥5.51B¥6.87B
Trade payables¥918M¥1.71B¥1.33B¥1.45B¥1.78B
Long-term borrowings¥4.82B¥3.82B¥4.54B¥4.35B¥4.82B
Total liabilities¥9B¥9.88B¥10.2B¥10.5B¥12.7B
Equity attributable to owners of parent¥3.03B¥3.36B¥3.9B¥4.7B¥5.69B
Retained earnings¥1.86B¥2.19B¥2.73B¥3.52B¥4.51B
Treasury stock-¥48.1M-¥45.9M-¥45.2M-¥41.7M-¥35.4M

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第40期(2025/04/01-2026/03/31)

    ID S100YF8W2026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第39期(2024/04/01-2025/03/31)

    ID S100W6S22025-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第38期(2023/04/01-2024/03/31)

    ID S100TTRS2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第37期(2022/04/01-2023/03/31)

    ID S100QZTJ2023-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第36期(令和3年4月1日-令和4年3月31日)

    ID S100OE362022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第35期(令和2年4月1日-令和3年3月31日)

    ID S100LM472021-06-25Open

Extracted from XBRL: 50 / Derived from other figures: 1

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