Meiko ElectronicsMeiko Electronics Co., Ltd.6787東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

Meiko Electronics revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +16.3% from the prior year, operating profit +28.8%.

Five-year trend

Revenue¥240.6B
FY ending Mar 2022: ¥151.3B¥151.3BFY ending Mar 2023: ¥167.3B¥167.3BFY ending Mar 2024: ¥179.5B¥179.5BFY ending Mar 2025: ¥206.8B¥206.8BFY ending Mar 2026: ¥240.6B¥240.6BFY22FY23FY24FY25FY26
Operating income¥24.6B
FY ending Mar 2022: ¥13.3B¥13.3BFY ending Mar 2023: ¥9.57B¥9.57BFY ending Mar 2024: ¥11.7B¥11.7BFY ending Mar 2025: ¥19.1B¥19.1BFY ending Mar 2026: ¥24.6B¥24.6BFY22FY23FY24FY25FY26
Operating margin10.2%
FY ending Mar 2022: 8.8%8.8%FY ending Mar 2023: 5.7%5.7%FY ending Mar 2024: 6.5%6.5%FY ending Mar 2025: 9.2%9.2%FY ending Mar 2026: 10.2%10.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin8.2%
Asset turnover0.81×
ROA6.7%
ROA6.7%
Financial leverage3.28×
ROE21.9%

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

Net margin8.2%
2022: 7.6%7.6%2023: 5.3%5.3%2024: 6.3%6.3%2025: 7.2%7.2%2026: 8.2%8.2%2223242526
Asset turnover0.81×
2022: 0.90×0.90×2023: 0.90×0.90×2024: 0.83×0.83×2025: 0.85×0.85×2026: 0.81×0.81×2223242526
ROA6.7%
2022: 6.8%6.8%2023: 4.8%4.8%2024: 5.2%5.2%2025: 6.1%6.1%2026: 6.7%6.7%2223242526
Financial leverage3.28×
2022: 3.70×3.70×2023: 3.52×3.52×2024: 3.34×3.34×2025: 3.22×3.22×2026: 3.28×3.28×2223242526
ROE21.9%
2022: 25.2%25.2%2023: 16.8%16.8%2024: 17.5%17.5%2025: 19.7%19.7%2026: 21.9%21.9%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20227.6%0.90×6.8%3.70×25.2%
20235.3%0.90×4.8%3.52×16.8%
20246.3%0.83×5.2%3.34×17.5%
20257.2%0.85×6.1%3.22×19.7%
20268.2%0.81×6.7%3.28×21.9%

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 ÷ revenue72.7%
2021: 57.7%57.7%2022: 54.6%54.6%2023: 57.1%57.1%2024: 62.4%62.4%2025: 62.7%62.7%2026: 72.7%72.7%212223242526
PPE ÷ total assets52.2%
2021: 48.4%48.4%2022: 49.0%49.0%2023: 47.2%47.2%2024: 48.7%48.7%2025: 50.5%50.5%2026: 52.2%52.2%212223242526
Goodwill ÷ parent equity4.3%
2022: 0.7%0.7%2023: 10.5%10.5%2024: 8.1%8.1%2025: 6.1%6.1%2026: 4.3%4.3%212223242526
Goodwill balance¥4.27B
2022: ¥304M¥304M2023: ¥6.3B¥6.3B2024: ¥5.63B¥5.63B2025: ¥4.95B¥4.95B2026: ¥4.27B¥4.27B212223242526

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¥8.42B
2021: ¥1.43B¥1.43B2022: ¥3.07B¥3.07B2023: ¥4.47B¥4.47B2024: ¥5.34B¥5.34B2025: ¥6.26B¥6.26B2026: ¥8.42B¥8.42B212223242526
R&D / revenue3.5%
2021: 1.2%1.2%2022: 2.0%2.0%2023: 2.7%2.7%2024: 3.0%3.0%2025: 3.0%3.0%2026: 3.5%3.5%212223242526
Receivable days—
2021: 90d90d212223242526
Payable days75d
2021: 73d73d2022: 72d72d2023: 59d59d2024: 66d66d2025: 65d65d2026: 75d75d212223242526

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
Revenue151,275167,276179,458206,806240,574
Cost of revenue123,880141,260148,910167,030190,144
Gross profit27,39426,01530,54839,77550,430
SG&A14,13916,44018,88720,69225,857
Operating income13,2559,57511,66019,08324,572
Pretax income12,61210,67213,87318,54427,410
Income tax1,1751,8872,4583,4487,457
Net income attributable to owners11,4518,84711,31014,92419,782
Operating margin8.8%5.7%6.5%9.2%10.2%

Balance sheet (reported items)

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

Assets

8%
Property, plant and equipment 52%
3%
2%
Other assets 35%

Funding

Trade payables 12%
Other liabilities 45%
Equity 43%

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¥10.4B¥17.3B¥21.4B¥22.9B¥26.5B
Total assets¥168.3B¥202.4B¥230B¥256.4B¥335.3B
Net assets¥58.7B¥84.5B¥105.5B¥115.6B¥143.8B
Share capital¥12.9B¥12.9B¥12.9B¥12.9B¥12.9B
Property, plant and equipment¥82.6B¥95.5B¥112.1B¥129.6B¥174.9B
Intangible assets excluding goodwill¥954M¥7B¥6.42B¥5.7B¥5.03B
Goodwill¥304M¥6.3B¥5.63B¥4.95B¥4.27B
Investment securities¥2.55B¥3.04B¥2.99B¥2.15B¥6.8B
Current assets¥78.4B¥91.9B¥102.8B¥114.1B¥142.5B
Current liabilities¥73B¥73.7B¥81.7B¥100.3B¥128.3B
Trade payables¥24.3B¥22.8B¥27B¥29.6B¥39B
Short-term borrowings¥28.2B¥29.7B¥32.2B¥40.4B¥43B
Long-term borrowings¥32.3B¥38.5B¥37.3B¥34.7B¥57.6B
Total liabilities¥109.6B¥117.9B¥124.5B¥140.8B¥191.5B
Non-controlling interests¥197M¥7.15B¥7.27B¥7.37B¥7.54B
Equity attributable to owners of parent¥45.5B¥60B¥69.6B¥81.7B¥98.8B
Retained earnings¥28.1B¥35.6B¥45.1B¥57.6B¥74.7B
Treasury stock-¥2.19B-¥2.18B-¥2.71B-¥2.67B-¥2.64B

Sources

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

    有価証券報告書-第51期(2025/04/01-2026/03/31)

    ID S100YIE82026-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第50期(2024/04/01-2025/03/31)

    ID S100W3632025-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第49期(2023/04/01-2024/03/31)

    ID S100TQVT2024-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第48期(2022/04/01-2023/03/31)

    ID S100R54V2023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第47期(令和3年4月1日-令和4年3月31日)

    ID S100OD702022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第46期(令和2年4月1日-令和3年3月31日)

    ID S100LN8T2021-06-24Open

Extracted from XBRL: 54 / Derived from other figures: 1

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