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Mabuchi MotorMABUCHI MOTOR CO., LTD.6592東証プライム電気機器FY ending Dec 2025, consolidated, J-GAAP

Mabuchi Motor revenue and profit

Out of every ¥100 of sales, about ¥13 is left as operating profit. Revenue changed +2.1% from the prior year, operating profit +17.7%.

Five-year trend

Revenue¥200.4B
FY ending Dec 2021: ¥134.6B¥134.6BFY ending Dec 2022: ¥156.7B¥156.7BFY ending Dec 2023: ¥178.7B¥178.7BFY ending Dec 2024: ¥196.2B¥196.2BFY ending Dec 2025: ¥200.4B¥200.4BFY21FY22FY23FY24FY25
Operating income¥25.5B
FY ending Dec 2021: ¥13.8B¥13.8BFY ending Dec 2022: ¥10.8B¥10.8BFY ending Dec 2023: ¥15.5B¥15.5BFY ending Dec 2024: ¥21.6B¥21.6BFY ending Dec 2025: ¥25.5B¥25.5BFY21FY22FY23FY24FY25
Operating margin12.7%
FY ending Dec 2021: 10.3%10.3%FY ending Dec 2022: 6.9%6.9%FY ending Dec 2023: 8.7%8.7%FY ending Dec 2024: 11.0%11.0%FY ending Dec 2025: 12.7%12.7%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin13.1%
Asset turnover0.55×
ROA7.2%
ROA7.2%
Financial leverage1.38×
ROE10.0%

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

Net margin13.1%
2021: 10.6%10.6%2022: 9.1%9.1%2023: 10.9%10.9%2024: 6.5%6.5%2025: 13.1%13.1%2122232425
Asset turnover0.55×
2021: 0.47×0.47×2022: 0.53×0.53×2023: 0.55×0.55×2024: 0.57×0.57×2025: 0.55×0.55×2122232425
ROA7.2%
2021: 5.0%5.0%2022: 4.8%4.8%2023: 6.0%6.0%2024: 3.7%3.7%2025: 7.2%7.2%2122232425
Financial leverage1.38×
2021: 1.14×1.14×2022: 1.18×1.18×2023: 1.25×1.25×2024: 1.33×1.33×2025: 1.38×1.38×2122232425
ROE10.0%
2021: 5.7%5.7%2022: 5.7%5.7%2023: 7.5%7.5%2024: 4.9%4.9%2025: 10.0%10.0%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
202110.6%0.47×5.0%1.14×5.7%
20229.1%0.53×4.8%1.18×5.7%
202310.9%0.55×6.0%1.25×7.5%
20246.5%0.57×3.7%1.33×4.9%
202513.1%0.55×7.2%1.38×10.0%

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 ÷ revenue47.8%
2020: 66.1%66.1%2021: 62.2%62.2%2022: 57.7%57.7%2023: 56.0%56.0%2024: 48.7%48.7%2025: 47.8%47.8%202122232425
PPE ÷ total assets25.9%
2020: 29.3%29.3%2021: 29.3%29.3%2022: 29.4%29.4%2023: 29.7%29.7%2024: 26.9%26.9%2025: 25.9%25.9%202122232425
Goodwill ÷ parent equity1.4%
2021: 1.1%1.1%2022: 1.1%1.1%2023: 1.2%1.2%2024: 1.5%1.5%2025: 1.4%1.4%202122232425
Goodwill balance¥3.87B
2021: ¥2.71B¥2.71B2022: ¥2.85B¥2.85B2023: ¥3.06B¥3.06B2024: ¥3.81B¥3.81B2025: ¥3.87B¥3.87B202122232425

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¥7.76B
2020: ¥4.45B¥4.45B2021: ¥4.71B¥4.71B2022: ¥5.57B¥5.57B2023: ¥6.39B¥6.39B2024: ¥7B¥7B2025: ¥7.76B¥7.76B202122232425
R&D / revenue3.9%
2020: 3.8%3.8%2021: 3.5%3.5%2022: 3.6%3.6%2023: 3.6%3.6%2024: 3.6%3.6%2025: 3.9%3.9%202122232425
Receivable days71d
2020: 78d78d2021: 65d65d2022: 67d67d2023: 69d69d2024: 69d69d2025: 71d71d202122232425
Payable days27d
2020: 29d29d2021: 28d28d2022: 24d24d2023: 24d24d2024: 20d20d2025: 27d27d202122232425

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
Revenue134,595156,706178,663196,212200,417
Cost of revenue98,180119,243134,518143,336140,624
Gross profit36,41537,46244,14452,87559,793
SG&A22,61526,63828,60831,23034,325
Operating income13,80010,82415,53621,64425,467
Pretax income20,10220,76427,23223,71834,964
Income tax5,8506,4687,81510,8878,691
Net income attributable to owners14,25114,29519,41612,83126,272
Operating margin10.3%6.9%8.7%11.0%12.7%

Balance sheet (reported items)

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

Assets

Cash 38%
Receivables 10%
Property, plant and equipment 26%
3%
4%
Other assets 19%

Funding

3%
7%
Equity 90%

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¥103.5B¥101.3B¥112.3B¥130.6B¥139.9B
Total assets¥285.7B¥307.8B¥336.6B¥355B¥370.2B
Net assets¥259.9B¥280.2B¥305B¥319.6B¥334.2B
Share capital¥20.7B¥20.7B¥20.7B¥20.7B¥20.7B
Trade receivables¥24B¥28.9B¥33.9B¥37.3B¥38.7B
Property, plant and equipment¥83.8B¥90.4B¥100.1B¥95.5B¥95.9B
Intangible assets excluding goodwill¥5.5B¥5.48B¥5.58B¥5.89B¥6.81B
Goodwill¥2.71B¥2.85B¥3.06B¥3.81B¥3.87B
Investment securities¥8.73B¥9.06B¥10.6B¥12.4B¥16.4B
Current assets¥185.6B¥200.6B¥217.9B¥238.5B¥247.7B
Current liabilities¥21.1B¥21.4B¥24.9B¥28.8B¥28.3B
Trade payables¥7.44B¥7.99B¥8.87B¥7.69B¥10.4B
Long-term borrowings¥122M¥1.11B¥830M¥517M¥1.3B
Total liabilities¥25.8B¥27.6B¥31.6B¥35.4B¥35.9B
Equity attributable to owners of parent¥250B¥253.4B¥261.3B¥258.3B¥268.3B
Retained earnings¥219.8B¥222.6B¥230.3B¥227.3B¥243.9B
Treasury stock-¥10.9B-¥10.4B-¥10.2B-¥10.1B-¥16.8B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第85期(2025/01/01－2025/12/31)

    ID S100XUAX2026-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(2024/01/01－2024/12/31)

    ID S100VJ782025-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第83期(2023/01/01－2023/12/31)

    ID S100T6GJ2024-03-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第82期(2022/01/01－2022/12/31)

    ID S100QGBC2023-03-31Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第81期(令和3年1月1日－令和3年12月31日)

    ID S100O1AT2022-05-18Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(令和2年1月1日－令和2年12月31日)

    ID S100L3JX2021-03-31Open

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

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