Marufuji Sheet PilingMARUFUJI SHEET PILING CO., LTD.8046東証スタンダード卸売業FY ending Mar 2026, consolidated, J-GAAP

Marufuji Sheet Piling revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +13.4% from the prior year, operating profit +33.6%.

Five-year trend

Revenue¥40.3B
FY ending Mar 2022: ¥31.9B¥31.9BFY ending Mar 2023: ¥35.1B¥35.1BFY ending Mar 2024: ¥34.5B¥34.5BFY ending Mar 2025: ¥35.6B¥35.6BFY ending Mar 2026: ¥40.3B¥40.3BFY22FY23FY24FY25FY26
Operating income¥2.11B
FY ending Mar 2022: ¥559M¥559MFY ending Mar 2023: ¥1.06B¥1.06BFY ending Mar 2024: ¥1.41B¥1.41BFY ending Mar 2025: ¥1.58B¥1.58BFY ending Mar 2026: ¥2.11B¥2.11BFY22FY23FY24FY25FY26
Operating margin5.2%
FY ending Mar 2022: 1.8%1.8%FY ending Mar 2023: 3.0%3.0%FY ending Mar 2024: 4.1%4.1%FY ending Mar 2025: 4.4%4.4%FY ending Mar 2026: 5.2%5.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin4.9%
Asset turnover0.90×
ROA4.4%
ROA4.4%
Financial leverage1.48×
ROE6.5%

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

Net margin4.9%
2022: 2.3%2.3%2023: 3.0%3.0%2024: 4.0%4.0%2025: 4.3%4.3%2026: 4.9%4.9%2223242526
Asset turnover0.90×
2022: 0.74×0.74×2023: 0.81×0.81×2024: 0.79×0.79×2025: 0.82×0.82×2026: 0.90×0.90×2223242526
ROA4.4%
2022: 1.7%1.7%2023: 2.4%2.4%2024: 3.2%3.2%2025: 3.5%3.5%2026: 4.4%4.4%2223242526
Financial leverage1.48×
2022: 1.61×1.61×2023: 1.59×1.59×2024: 1.54×1.54×2025: 1.49×1.49×2026: 1.48×1.48×2223242526
ROE6.5%
2022: 2.8%2.8%2023: 3.8%3.8%2024: 4.9%4.9%2025: 5.2%5.2%2026: 6.5%6.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.3%0.74×1.7%1.61×2.8%
20233.0%0.81×2.4%1.59×3.8%
20244.0%0.79×3.2%1.54×4.9%
20254.3%0.82×3.5%1.49×5.2%
20264.9%0.90×4.4%1.48×6.5%

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 ÷ revenue19.4%
2021: 20.2%20.2%2022: 18.7%18.7%2023: 16.9%16.9%2024: 17.5%17.5%2025: 18.9%18.9%2026: 19.4%19.4%212223242526
PPE ÷ total assets17.0%
2021: 15.0%15.0%2022: 13.8%13.8%2023: 13.6%13.6%2024: 13.9%13.9%2025: 15.3%15.3%2026: 17.0%17.0%212223242526

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¥15M
2023: ¥19M¥19M2024: ¥25M¥25M2025: ¥12M¥12M2026: ¥15M¥15M212223242526
R&D / revenue0.0%
2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.0%0.0%2026: 0.0%0.0%212223242526
Receivable days—
2021: 113d113d212223242526
Payable days54d
2021: 90d90d2022: 78d78d2023: 74d74d2024: 65d65d2025: 56d56d2026: 54d54d212223242526

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
Revenue31,87635,10434,54335,58540,340
Cost of revenue27,14129,59428,41129,12432,505
Gross profit4,7345,5106,1326,4607,834
SG&A4,1754,4474,7214,8815,724
Operating income5591,0631,4101,5792,110
Pretax income1,1341,5982,0062,1732,832
Income tax384560634639866
Net income attributable to owners7491,0381,3721,5341,965
Operating margin1.8%3.0%4.1%4.4%5.2%

Balance sheet (reported items)

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

Assets

Cash 10%
Property, plant and equipment 17%
0%
5%
Other assets 68%

Funding

Trade payables 11%
Other liabilities 18%
Equity 71%

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¥4.34B¥3.33B¥4.86B¥5.09B¥4.38B
Total assets¥43.3B¥43.7B¥43.3B¥44B¥46B
Net assets¥27.5B¥28.2B¥29.8B¥30.9B¥32.7B
Share capital¥3.63B¥3.63B¥3.63B¥3.63B¥3.63B
Property, plant and equipment¥5.96B¥5.93B¥6.03B¥6.74B¥7.81B
Intangible assets excluding goodwill¥130M¥98M¥128M¥90M¥155M
Investment securities¥954M¥963M¥1.33B¥1.29B¥2.19B
Current assets¥33.6B¥34.2B¥32.9B¥32.9B¥31.9B
Current liabilities¥15.5B¥15.1B¥12.9B¥12.2B¥12.1B
Trade payables¥5.79B¥6B¥5.07B¥4.5B¥4.78B
Short-term borrowings¥2.84B¥1.54B¥500M¥500M¥500M
Total liabilities¥15.8B¥15.5B¥13.5B¥13B¥13.2B
Equity attributable to owners of parent¥27B¥27.7B¥28.8B¥29.9B¥30.7B
Retained earnings¥19.2B¥19.9B¥21B¥22.1B¥23.6B
Treasury stock-¥1.01B-¥1.01B-¥1.01B-¥1.01B-¥1.78B

Sources

Show source documents (6)
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    有価証券報告書-第78期(2025/04/01-2026/03/31)

    ID S100YF982026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第77期(2024/04/01-2025/03/31)

    ID S100VZJS2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第76期(2023/04/01-2024/03/31)

    ID S100TUR52024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第75期(2022/04/01-2023/03/31)

    ID S100R3DU2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第74期(令和3年4月1日-令和4年3月31日)

    ID S100OCQU2022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第73期(令和2年4月1日-令和3年3月31日)

    ID S100LJCV2021-06-29Open

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