Meisei IndustrialMEISEI INDUSTRIAL Co.,Ltd.1976東証プライム建設業FY ending Mar 2026, consolidated, J-GAAP

Meisei Industrial revenue and profit

Out of every ¥100 of sales, about ¥13 is left as operating profit. Revenue changed -9.0% from the prior year, operating profit -27.7%.

Five-year trend

Revenue¥60.3B
FY ending Mar 2022: ¥48.4B¥48.4BFY ending Mar 2023: ¥55.9B¥55.9BFY ending Mar 2024: ¥60.4B¥60.4BFY ending Mar 2025: ¥66.3B¥66.3BFY ending Mar 2026: ¥60.3B¥60.3BFY22FY23FY24FY25FY26
Operating income¥7.67B
FY ending Mar 2022: ¥5.34B¥5.34BFY ending Mar 2023: ¥6.83B¥6.83BFY ending Mar 2024: ¥8.06B¥8.06BFY ending Mar 2025: ¥10.6B¥10.6BFY ending Mar 2026: ¥7.67B¥7.67BFY22FY23FY24FY25FY26
Operating margin12.7%
FY ending Mar 2022: 11.0%11.0%FY ending Mar 2023: 12.2%12.2%FY ending Mar 2024: 13.4%13.4%FY ending Mar 2025: 16.0%16.0%FY ending Mar 2026: 12.7%12.7%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin9.1%
Asset turnover0.69×
ROA6.3%
ROA6.3%
Financial leverage1.38×
ROE8.7%

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

Net margin9.1%
2022: 7.8%7.8%2023: 8.4%8.4%2024: 10.3%10.3%2025: 12.8%12.8%2026: 9.1%9.1%2223242526
Asset turnover0.69×
2022: 0.68×0.68×2023: 0.75×0.75×2024: 0.75×0.75×2025: 0.77×0.77×2026: 0.69×0.69×2223242526
ROA6.3%
2022: 5.3%5.3%2023: 6.3%6.3%2024: 7.7%7.7%2025: 9.8%9.8%2026: 6.3%6.3%2223242526
Financial leverage1.38×
2022: 1.34×1.34×2023: 1.36×1.36×2024: 1.40×1.40×2025: 1.41×1.41×2026: 1.38×1.38×2223242526
ROE8.7%
2022: 7.1%7.1%2023: 8.6%8.6%2024: 10.8%10.8%2025: 13.8%13.8%2026: 8.7%8.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20227.8%0.68×5.3%1.34×7.1%
20238.4%0.75×6.3%1.36×8.6%
202410.3%0.75×7.7%1.40×10.8%
202512.8%0.77×9.8%1.41×13.8%
20269.1%0.69×6.3%1.38×8.7%

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 ÷ revenue25.0%
2021: 30.5%30.5%2022: 31.2%31.2%2023: 27.5%27.5%2024: 27.7%27.7%2025: 27.5%27.5%2026: 25.0%25.0%212223242526
PPE ÷ total assets17.6%
2021: 22.4%22.4%2022: 21.2%21.2%2023: 19.8%19.8%2024: 19.8%19.8%2025: 20.6%20.6%2026: 17.6%17.6%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¥229M
2021: ¥177M¥177M2022: ¥187M¥187M2023: ¥209M¥209M2024: ¥205M¥205M2025: ¥211M¥211M2026: ¥229M¥229M212223242526
R&D / revenue0.4%
2021: 0.4%0.4%2022: 0.4%0.4%2023: 0.4%0.4%2024: 0.3%0.3%2025: 0.3%0.3%2026: 0.4%0.4%212223242526

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
Revenue48,38955,89060,37766,28360,299
Cost of revenue38,46444,30947,55150,54347,090
Gross profit9,92511,58012,82615,73913,208
SG&A4,5854,7504,7645,1255,532
Operating income5,3396,8308,06110,6137,675
Pretax income5,6416,9018,54811,8557,359
Income tax1,8462,2052,2123,1951,893
Net income attributable to owners3,7934,6806,2438,4545,494
Operating margin11.0%12.2%13.4%16.0%12.7%

Balance sheet (reported items)

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

Assets

Cash 43%
Property, plant and equipment 18%
0%
7%
Other assets 32%

Funding

Other liabilities 19%
Equity 81%
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¥27.2B¥29B¥31.4B¥33.4B¥36.7B
Total assets¥71.1B¥77.5B¥84.4B¥88.6B¥85.6B
Net assets¥55.9B¥59.4B¥63.9B¥69.2B¥69.5B
Share capital¥6.89B¥6.89B¥6.89B¥6.89B¥6.89B
Property, plant and equipment¥15.1B¥15.4B¥16.8B¥18.2B¥15B
Intangible assets excluding goodwill¥74M¥62M¥92M¥188M¥167M
Investment securities¥3.73B¥3.81B¥4.81B¥6.3B¥6.4B
Current assets¥49.8B¥55.7B¥60.1B¥61.2B¥61.2B
Current liabilities¥11.9B¥14.1B¥17B¥14.6B¥12.9B
Short-term borrowings¥960M————
Long-term borrowings—¥800M¥100M¥700M¥100M
Total liabilities¥15.2B¥18.1B¥20.6B¥19.4B¥16.1B
Non-controlling interests¥362M¥394M¥480M¥636M¥518M
Equity attributable to owners of parent¥53.1B¥56.2B¥59.4B¥63.3B¥63.2B
Retained earnings¥48.3B¥51.4B¥55.7B¥60.4B¥63B
Treasury stock-¥3.07B-¥3.05B-¥4.2B-¥5B-¥7.74B

Sources

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

    有価証券報告書-第84期(2025/04/01-2026/03/31)

    ID S100YFOI2026-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第83期(2024/04/01-2025/03/31)

    ID S100W3LA2025-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第82期(2023/04/01-2024/03/31)

    ID S100TOS32024-06-21Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第81期(2022/04/01-2023/03/31)

    ID S100RGMY2023-07-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第80期(令和3年4月1日-令和4年3月31日)

    ID S100OECF2022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第79期(令和2年4月1日-令和3年3月31日)

    ID S100LPJF2021-06-25Open

Extracted from XBRL: 51 / Derived from other figures: 1

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