MeidenshaMEIDENSHA CORPORATION6508東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

Meidensha revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +8.3% from the prior year, operating profit +26.1%.

Five-year trend

Revenue¥326.2B
FY ending Mar 2022: ¥255B¥255BFY ending Mar 2023: ¥272.6B¥272.6BFY ending Mar 2024: ¥287.9B¥287.9BFY ending Mar 2025: ¥301.1B¥301.1BFY ending Mar 2026: ¥326.2B¥326.2BFY22FY23FY24FY25FY26
Operating income¥27.1B
FY ending Mar 2022: ¥9.47B¥9.47BFY ending Mar 2023: ¥8.54B¥8.54BFY ending Mar 2024: ¥12.7B¥12.7BFY ending Mar 2025: ¥21.5B¥21.5BFY ending Mar 2026: ¥27.1B¥27.1BFY22FY23FY24FY25FY26
Operating margin8.3%
FY ending Mar 2022: 3.7%3.7%FY ending Mar 2023: 3.1%3.1%FY ending Mar 2024: 4.4%4.4%FY ending Mar 2025: 7.1%7.1%FY ending Mar 2026: 8.3%8.3%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin7.2%
Asset turnover0.91×
ROA6.6%
ROA6.6%
Financial leverage2.77×
ROE18.3%

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

Net margin7.2%
2022: 2.6%2.6%2023: 2.6%2.6%2024: 3.9%3.9%2025: 6.1%6.1%2026: 7.2%7.2%2223242526
Asset turnover0.91×
2022: 0.88×0.88×2023: 0.91×0.91×2024: 0.90×0.90×2025: 0.89×0.89×2026: 0.91×0.91×2223242526
ROA6.6%
2022: 2.3%2.3%2023: 2.4%2.4%2024: 3.5%3.5%2025: 5.5%5.5%2026: 6.6%6.6%2223242526
Financial leverage2.77×
2022: 3.16×3.16×2023: 3.17×3.17×2024: 3.17×3.17×2025: 2.99×2.99×2026: 2.77×2.77×2223242526
ROE18.3%
2022: 7.3%7.3%2023: 7.5%7.5%2024: 11.1%11.1%2025: 16.4%16.4%2026: 18.3%18.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.6%0.88×2.3%3.16×7.3%
20232.6%0.91×2.4%3.17×7.5%
20243.9%0.90×3.5%3.17×11.1%
20256.1%0.89×5.5%2.99×16.4%
20267.2%0.91×6.6%2.77×18.3%

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 ÷ revenue23.2%
2021: 32.7%32.7%2022: 29.4%29.4%2023: 27.8%27.8%2024: 26.2%26.2%2025: 24.9%24.9%2026: 23.2%23.2%212223242526
PPE ÷ total assets20.2%
2021: 27.1%27.1%2022: 25.8%25.8%2023: 24.7%24.7%2024: 22.5%22.5%2025: 22.0%22.0%2026: 20.2%20.2%212223242526
Goodwill ÷ parent equity0.6%
2021: 3.6%3.6%2022: 3.5%3.5%2023: 2.8%2.8%2024: 2.1%2.1%2025: 1.2%1.2%2026: 0.6%0.6%212223242526
Goodwill balance¥775M
2021: ¥3.21B¥3.21B2022: ¥3.27B¥3.27B2023: ¥2.67B¥2.67B2024: ¥2.17B¥2.17B2025: ¥1.43B¥1.43B2026: ¥775M¥775M212223242526

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¥13.5B
2021: ¥9.47B¥9.47B2022: ¥9.87B¥9.87B2023: ¥10.3B¥10.3B2024: ¥10.1B¥10.1B2025: ¥11.2B¥11.2B2026: ¥13.5B¥13.5B212223242526
R&D / revenue4.1%
2021: 4.1%4.1%2022: 3.9%3.9%2023: 3.8%3.8%2024: 3.5%3.5%2025: 3.7%3.7%2026: 4.1%4.1%212223242526
Receivable days—
2021: 138d138d212223242526
Payable days52d
2021: 66d66d2022: 65d65d2023: 68d68d2024: 60d60d2025: 57d57d2026: 52d52d212223242526

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
Revenue255,046272,578287,880301,101326,194
Cost of revenue193,923209,599218,887219,509233,647
Gross profit61,12362,97968,99381,59292,546
SG&A51,65454,43956,26260,08065,424
Operating income9,4688,53912,73121,51227,122
Pretax income9,98410,39715,75623,83630,820
Income tax3,0303,1364,4114,9616,814
Net income attributable to owners6,7337,12811,20518,48723,625
Operating margin3.7%3.1%4.4%7.1%8.3%

Balance sheet (reported items)

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

Assets

6%
Property, plant and equipment 20%
2%
Investment securities 10%
Other assets 62%

Funding

Trade payables 9%
Other liabilities 43%
Equity 48%
0%

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¥13.3B¥14.1B¥17.2B¥29.1B¥23.6B
Total assets¥290.9B¥307.4B¥334.8B¥341.3B¥373.7B
Net assets¥105.4B¥110.9B¥129.5B¥142.2B¥178.5B
Share capital¥17.1B¥17.1B¥17.1B¥17.1B¥17.1B
Property, plant and equipment¥74.9B¥75.8B¥75.4B¥75.1B¥75.6B
Intangible assets excluding goodwill¥9.56B¥8.46B¥7.65B¥6.69B¥5.82B
Goodwill¥3.27B¥2.67B¥2.17B¥1.43B¥775M
Investment securities¥17.1B¥16.7B¥26.6B¥23.5B¥36.9B
Current assets¥171.3B¥187.8B¥208.5B¥217.1B¥240.3B
Current liabilities¥104.4B¥118.3B¥124.2B¥118.1B¥126.4B
Trade payables¥34.8B¥39B¥35.9B¥34.5B¥33.6B
Short-term borrowings¥10.3B¥15.5B¥9.91B¥11.1B¥16.3B
Long-term borrowings¥25.2B¥21B¥28.8B¥27.5B¥23.1B
Bonds¥6B¥6B———
Interest-bearing debt¥41.5Bderived¥42.5Bderived———
Total liabilities¥185.5B¥196.5B¥205.3B¥199.1B¥195.1B
Non-controlling interests¥3.46B¥2.98B¥3.08B¥3.44B¥3.64B
Equity attributable to owners of parent¥92.2B¥96.7B¥105.7B¥120.4B¥137.8B
Retained earnings¥64.8B¥69.6B¥78.6B¥93.3B¥110.8B
Treasury stock-¥192M-¥194M-¥197M-¥202M-¥210M

Sources

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

    訂正有価証券報告書-第162期(2025/04/01-2026/03/31)

    ID S100YQ5Z2026-07-13Open
  • EDINET (FSA Japan)

    有価証券報告書-第161期(2024/04/01-2025/03/31)

    ID S100W34Y2025-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第160期(2023/04/01-2024/03/31)

    ID S100TR582024-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第159期(2022/04/01-2023/03/31)

    ID S100R33C2023-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第158期(令和3年4月1日-令和4年3月31日)

    ID S100O5E22022-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第157期(令和2年4月1日-令和3年3月31日)

    ID S100LMJU2021-06-24Open

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

Spotted an error? Report it (corrections keep the original record)

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.