Meiji HoldingsMeiji Holdings Co., Ltd.2269東証プライム食料品FY ending Mar 2026, consolidated, J-GAAP

Meiji Holdings revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +1.7% from the prior year, operating profit +10.2%.

Five-year trend

Revenue¥1.17T
FY ending Mar 2022: ¥1.01T¥1.01TFY ending Mar 2023: ¥1.06T¥1.06TFY ending Mar 2024: ¥1.11T¥1.11TFY ending Mar 2025: ¥1.15T¥1.15TFY ending Mar 2026: ¥1.17T¥1.17TFY22FY23FY24FY25FY26
Operating income¥93.3B
FY ending Mar 2022: ¥92.9B¥92.9BFY ending Mar 2023: ¥75.4B¥75.4BFY ending Mar 2024: ¥84.3B¥84.3BFY ending Mar 2025: ¥84.7B¥84.7BFY ending Mar 2026: ¥93.3B¥93.3BFY22FY23FY24FY25FY26
Operating margin7.9%
FY ending Mar 2022: 9.2%9.2%FY ending Mar 2023: 7.1%7.1%FY ending Mar 2024: 7.6%7.6%FY ending Mar 2025: 7.3%7.3%FY ending Mar 2026: 7.9%7.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.0%
Asset turnover0.96×
ROA2.9%
ROA2.9%
Financial leverage1.78×
ROE5.1%

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

Net margin3.0%
2022: 8.6%8.6%2023: 6.5%6.5%2024: 4.6%4.6%2025: 4.4%4.4%2026: 3.0%3.0%2223242526
Asset turnover0.96×
2022: 0.91×0.91×2023: 0.94×0.94×2024: 0.94×0.94×2025: 0.97×0.97×2026: 0.96×0.96×2223242526
ROA2.9%
2022: 7.8%7.8%2023: 6.2%6.2%2024: 4.3%4.3%2025: 4.3%4.3%2026: 2.9%2.9%2223242526
Financial leverage1.78×
2022: 1.77×1.77×2023: 1.74×1.74×2024: 1.73×1.73×2025: 1.74×1.74×2026: 1.78×1.78×2223242526
ROE5.1%
2022: 13.8%13.8%2023: 10.7%10.7%2024: 7.5%7.5%2025: 7.4%7.4%2026: 5.1%5.1%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20228.6%0.91×7.8%1.77×13.8%
20236.5%0.94×6.2%1.74×10.7%
20244.6%0.94×4.3%1.73×7.5%
20254.4%0.97×4.3%1.74×7.4%
20263.0%0.96×2.9%1.78×5.1%

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 ÷ revenue43.4%
2021: 38.2%38.2%2022: 47.7%47.7%2023: 45.9%45.9%2024: 43.5%43.5%2025: 41.9%41.9%2026: 43.4%43.4%212223242526
PPE ÷ total assets40.4%
2021: 42.6%42.6%2022: 43.3%43.3%2023: 42.9%42.9%2024: 39.9%39.9%2025: 40.9%40.9%2026: 40.4%40.4%212223242526
Goodwill ÷ parent equity—
2021: 0.0%0.0%2022: 0.0%0.0%2023: 0.0%0.0%212223242526
Goodwill balance—
2021: ¥42M¥42M2022: ¥26M¥26M2023: ¥11M¥11M212223242526

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¥37B
2021: ¥31.4B¥31.4B2022: ¥33.4B¥33.4B2023: ¥31B¥31B2024: ¥34.9B¥34.9B2025: ¥38.9B¥38.9B2026: ¥37B¥37B212223242526
R&D / revenue3.2%
2021: 2.6%2.6%2022: 3.3%3.3%2023: 2.9%2.9%2024: 3.2%3.2%2025: 3.4%3.4%2026: 3.2%3.2%212223242526
Receivable days61d
2021: 54d54d2022: 63d63d2023: 59d59d2024: 67d67d2025: 60d60d2026: 61d61d212223242526
Payable days45d
2021: 52d52d2022: 57d57d2023: 54d54d2024: 60d60d2025: 46d46d2026: 45d45d212223242526

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
Revenue1,013,0921,062,1571,105,4941,154,0741,173,688
Cost of revenue689,843755,354778,149814,973814,648
Gross profit323,249306,802327,345339,100359,040
SG&A230,327231,368243,023254,398265,733
Operating income92,92275,43384,32284,70293,307
Pretax income128,45595,41087,50782,48268,040
Income tax36,06823,91233,79228,39629,243
Net income attributable to owners87,49769,42450,67550,80035,076
Operating margin9.2%7.1%7.6%7.3%7.9%

Balance sheet (reported items)

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

Assets

4%
Receivables 16%
Property, plant and equipment 40%
2%
6%
Other assets 32%

Funding

8%
Other liabilities 27%
Equity 65%
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¥64.9B¥60.9B¥102.8B¥66.4B¥49.6B
Total assets¥1.12T¥1.14T¥1.21T¥1.18T¥1.26T
Net assets¥713B¥751.3B¥787.8B¥791.8B¥817.6B
Share capital¥30B¥30B¥30B¥30B¥30B
Trade receivables¥173.9B¥173B¥202.2B¥189.5B¥195.7B
Property, plant and equipment¥483.5B¥487.8B¥480.5B¥483.9B¥509.9B
Intangible assets excluding goodwill¥18.1B¥21.5B¥21B¥19.2B¥21.8B
Goodwill¥26M¥11M———
Investment securities¥124.1B¥112.6B¥87.9B¥78.4B¥75.3B
Current assets¥455.6B¥470.9B¥563B¥540.8B¥585.4B
Current liabilities¥286.8B¥266.3B¥322.3B¥307.1B¥313.3B
Trade payables¥107.6B¥112.3B¥127.3B¥102.8B¥101.1B
Short-term borrowings¥18.2B¥4.87B¥22.3B¥25.4B¥21.3B
Long-term borrowings¥33B¥39.5B¥17.6B¥12.4B¥67.3B
Bonds¥20B¥10B¥10B¥10B—
Interest-bearing debt¥71.3Bderived¥54.4Bderived¥49.9Bderived¥47.8Bderived—
Total liabilities¥404.4B¥384.9B¥417.5B¥392.7B¥444.2B
Non-controlling interests¥39.7B¥39.4B¥41.3B¥43.5B¥45B
Equity attributable to owners of parent¥632.9B¥665.1B¥690.3B¥684B¥688.8B
Retained earnings¥560.2B¥602B¥626.2B¥649.3B¥653.3B
Treasury stock-¥37.9B-¥47.5B-¥38.2B-¥34B-¥33.3B

Sources

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

    有価証券報告書-第17期(2025/04/01-2026/03/31)

    ID S100YILP2026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第16期(2024/04/01-2025/03/31)

    ID S100W6WK2025-06-26Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第15期(2023/04/01-2024/03/31)

    ID S100TZLX2024-07-04Open
  • EDINET (FSA Japan)

    有価証券報告書-第14期(2022/04/01-2023/03/31)

    ID S100R9C92023-06-29Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第13期(令和3年4月1日-令和4年3月31日)

    ID S100PUW92022-12-22Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第12期(令和2年4月1日-令和3年3月31日)

    ID S100M7HS2021-08-12Open

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

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