Meiji Electric IndustriesMEIJI ELECTRIC INDUSTRIES CO., LTD.3388東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Meiji Electric Industries revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed -2.9% from the prior year, operating profit +11.4%.

Five-year trend

Revenue¥76.4B
FY ending Mar 2022: ¥67.7B¥67.7BFY ending Mar 2023: ¥70.9B¥70.9BFY ending Mar 2024: ¥74.6B¥74.6BFY ending Mar 2025: ¥78.7B¥78.7BFY ending Mar 2026: ¥76.4B¥76.4BFY22FY23FY24FY25FY26
Operating income¥3.67B
FY ending Mar 2022: ¥2.01B¥2.01BFY ending Mar 2023: ¥2.72B¥2.72BFY ending Mar 2024: ¥2.91B¥2.91BFY ending Mar 2025: ¥3.29B¥3.29BFY ending Mar 2026: ¥3.67B¥3.67BFY22FY23FY24FY25FY26
Operating margin4.8%
FY ending Mar 2022: 3.0%3.0%FY ending Mar 2023: 3.8%3.8%FY ending Mar 2024: 3.9%3.9%FY ending Mar 2025: 4.2%4.2%FY ending Mar 2026: 4.8%4.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.7%
Asset turnover1.37×
ROA5.1%
ROA5.1%
Financial leverage1.75×
ROE8.9%

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

Net margin3.7%
2022: 2.6%2.6%2023: 3.1%3.1%2024: 3.3%3.3%2025: 3.1%3.1%2026: 3.7%3.7%2223242526
Asset turnover1.37×
2022: 1.52×1.52×2023: 1.48×1.48×2024: 1.44×1.44×2025: 1.48×1.48×2026: 1.37×1.37×2223242526
ROA5.1%
2022: 4.0%4.0%2023: 4.6%4.6%2024: 4.7%4.7%2025: 4.6%4.6%2026: 5.1%5.1%2223242526
Financial leverage1.75×
2022: 1.73×1.73×2023: 1.81×1.81×2024: 1.83×1.83×2025: 1.77×1.77×2026: 1.75×1.75×2223242526
ROE8.9%
2022: 6.9%6.9%2023: 8.3%8.3%2024: 8.6%8.6%2025: 8.1%8.1%2026: 8.9%8.9%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.6%1.52×4.0%1.73×6.9%
20233.1%1.48×4.6%1.81×8.3%
20243.3%1.44×4.7%1.83×8.6%
20253.1%1.48×4.6%1.77×8.1%
20263.7%1.37×5.1%1.75×8.9%

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 ÷ revenue6.2%
2021: 4.9%4.9%2022: 5.4%5.4%2023: 5.9%5.9%2024: 5.6%5.6%2025: 5.7%5.7%2026: 6.2%6.2%212223242526
PPE ÷ total assets8.3%
2021: 7.5%7.5%2022: 8.2%8.2%2023: 8.1%8.1%2024: 8.1%8.1%2025: 8.2%8.2%2026: 8.3%8.3%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¥17.3M
2022: ¥22.5M¥22.5M2023: ¥22.3M¥22.3M2024: ¥14M¥14M2025: ¥1.1M¥1.1M2026: ¥17.3M¥17.3M212223242526
R&D / revenue0.0%
2022: 0.0%0.0%2023: 0.0%0.0%2024: 0.0%0.0%2025: 0.0%0.0%2026: 0.0%0.0%212223242526
Receivable days82d
2021: 115d115d2022: 88d88d2023: 103d103d2024: 87d87d2025: 89d89d2026: 82d82d212223242526
Payable days49d
2021: 57d57d2022: 54d54d2023: 62d62d2024: 51d51d2025: 49d49d2026: 49d49d212223242526

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
Revenue67,74970,94774,58178,67376,360
Cost of revenue58,74460,69363,58866,87863,972
Gross profit9,00510,25410,99211,79512,388
SG&A6,9967,5308,0788,5008,718
Operating income2,0092,7242,9143,2953,670
Pretax income2,5233,1253,4863,6024,079
Income tax7249211,0271,1121,199
Net income attributable to owners1,7812,1922,4262,4362,844
Operating margin3.0%3.8%3.9%4.2%4.8%

Balance sheet (reported items)

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

Assets

Cash 26%
Receivables 30%
8%
1%
Investment securities 9%
Other assets 26%

Funding

Trade payables 15%
Other liabilities 18%
Equity 67%

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¥7.75B¥4.88B¥7.33B¥7.91B¥14.8B
Total assets¥44.7B¥51.4B¥52.1B¥54.2B¥57.1B
Net assets¥27.3B¥29.4B¥33.1B¥34.8B¥38.3B
Share capital¥1.62B¥1.62B¥1.66B¥1.66B¥1.66B
Trade receivables¥16.3B¥19.9B¥17.8B¥19.1B¥17.1B
Property, plant and equipment¥3.66B¥4.17B¥4.21B¥4.45B¥4.74B
Intangible assets excluding goodwill¥240.8M¥590.6M¥699.3M¥522.1M¥393.2M
Investment securities¥2.79B¥3B¥4.14B¥3.98B¥5.41B
Current assets¥37.5B¥43B¥41.4B¥43.7B¥44B
Current liabilities¥17B¥21.4B¥18B¥18.4B¥17.1B
Trade payables¥8.76B¥10.3B¥8.86B¥9.01B¥8.58B
Short-term borrowings¥225.7M¥2.5B¥25.8M——
Total liabilities¥17.3B¥21.9B¥19.1B¥19.4B¥18.8B
Non-controlling interests¥195.9M¥230.6M¥285.4M¥378.3M¥444.8M
Equity attributable to owners of parent¥25.8B¥27.4B¥29.2B¥30.8B¥32.8B
Retained earnings¥22.2B¥23.8B¥25.6B¥27.1B¥29B
Treasury stock-¥32.8M-¥32.8M-¥23.6M-¥14.8M-¥6.2M

Sources

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

    有価証券報告書-第70期(2025/04/01-2026/03/31)

    ID S100YKYA2026-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第69期(2024/04/01-2025/03/31)

    ID S100W7AD2025-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第68期(2023/04/01-2024/03/31)

    ID S100TUHW2024-06-26Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第67期(2022/04/01-2023/03/31)

    ID S100RC0M2023-07-05Open
  • EDINET (FSA Japan)

    有価証券報告書-第66期(令和3年4月1日-令和4年3月31日)

    ID S100OFPG2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第65期(令和2年4月1日-令和3年3月31日)

    ID S100LOZ72021-06-24Open

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