Miahelsa HoldingsMiahelsa Holdings Corporation7129東証スタンダード小売業FY ending Mar 2026, consolidated, J-GAAP

Miahelsa Holdings revenue and profit

Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed +4.3% from the prior year, operating profit +28.6%.

Five-year trend

Revenue¥24.9B
FY ending Mar 2022: ¥19.5B¥19.5BFY ending Mar 2023: ¥22.2B¥22.2BFY ending Mar 2024: ¥22.7B¥22.7BFY ending Mar 2025: ¥23.8B¥23.8BFY ending Mar 2026: ¥24.9B¥24.9BFY22FY23FY24FY25FY26
Operating income¥824.3M
FY ending Mar 2022: ¥186.4M¥186.4MFY ending Mar 2023: ¥191.1M¥191.1MFY ending Mar 2024: ¥395.2M¥395.2MFY ending Mar 2025: ¥641.2M¥641.2MFY ending Mar 2026: ¥824.3M¥824.3MFY22FY23FY24FY25FY26
Operating margin3.3%
FY ending Mar 2022: 1.0%1.0%FY ending Mar 2023: 0.9%0.9%FY ending Mar 2024: 1.7%1.7%FY ending Mar 2025: 2.7%2.7%FY ending Mar 2026: 3.3%3.3%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin0.8%
Asset turnover1.72×
ROA1.4%
ROA1.4%
Financial leverage3.75×
ROE5.2%

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

Net margin0.8%
2022: 1.5%1.5%2023: 0.9%0.9%2024: 0.0%0.0%2025: 1.3%1.3%2026: 0.8%0.8%2223242526
Asset turnover1.72×
2022: 1.37×1.37×2023: 1.57×1.57×2024: 1.63×1.63×2025: 1.76×1.76×2026: 1.72×1.72×2223242526
ROA1.4%
2022: 2.1%2.1%2023: 1.5%1.5%2024: 0.0%0.0%2025: 2.2%2.2%2026: 1.4%1.4%2223242526
Financial leverage3.75×
2022: 4.44×4.44×2023: 4.33×4.33×2024: 4.21×4.21×2025: 3.82×3.82×2026: 3.75×3.75×2223242526
ROE5.2%
2022: 9.1%9.1%2023: 6.4%6.4%2024: 0.2%0.2%2025: 8.4%8.4%2026: 5.2%5.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.5%1.37×2.1%4.44×9.1%
20230.9%1.57×1.5%4.33×6.4%
20240.0%1.63×0.0%4.21×0.2%
20251.3%1.76×2.2%3.82×8.4%
20260.8%1.72×1.4%3.75×5.2%

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 ÷ revenue21.1%
2022: 34.7%34.7%2023: 30.4%30.4%2024: 27.3%27.3%2025: 24.3%24.3%2026: 21.1%21.1%2223242526
PPE ÷ total assets33.6%
2022: 47.7%47.7%2023: 47.9%47.9%2024: 44.9%44.9%2025: 43.5%43.5%2026: 33.6%33.6%2223242526
Goodwill ÷ parent equity2.9%
2022: 11.0%11.0%2023: 8.4%8.4%2024: 6.5%6.5%2025: 4.0%4.0%2026: 2.9%2.9%2223242526
Goodwill balance¥111.6M
2022: ¥351.7M¥351.7M2023: ¥278.8M¥278.8M2024: ¥215.1M¥215.1M2025: ¥151.5M¥151.5M2026: ¥111.6M¥111.6M2223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue19,51022,24922,72323,82624,851
Cost of revenue17,61320,23720,55821,43422,181
Gross profit1,8982,0122,1652,3922,669
SG&A1,7111,8211,7691,7511,845
Operating income186191395641824
Pretax income53434864486437
Income tax24213858186236
Net income attributable to owners2922106300201
Operating margin1.0%0.9%1.7%2.7%3.3%

Balance sheet (reported items)

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

Assets

Cash 29%
Property, plant and equipment 33%
3%
Other assets 35%

Funding

Other liabilities 75%
Equity 25%
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¥1.09B¥1.18B¥1.83B¥1.53B¥4.48B
Total assets¥14.2B¥14.1B¥13.8B¥13.3B¥15.6B
Net assets¥3.2B¥3.34B¥3.31B¥3.79B¥3.91B
Share capital¥300.6M¥300.6M¥318.7M¥452.4M¥453.6M
Property, plant and equipment¥6.78B¥6.76B¥6.2B¥5.78B¥5.24B
Intangible assets excluding goodwill¥594.7M¥510.4M¥439.1M¥393.1M¥344M
Goodwill¥351.7M¥278.8M¥215.1M¥151.5M¥111.6M
Current assets¥4.89B¥5.05B¥5.45B¥5.46B¥8.4B
Current liabilities¥6.15B¥6.58B¥6.84B¥6.48B¥8.44B
Short-term borrowings¥1.74B¥2.09B¥1.82B¥1.2B¥3.39B
Long-term borrowings¥2.4B¥1.88B¥1.6B¥1.28B¥1.51B
Bonds¥65.5M¥34.5M¥13.5M——
Interest-bearing debt¥4.2Bderived¥4Bderived¥3.44Bderived——
Total liabilities¥11B¥10.8B¥10.5B¥9.48B¥11.7B
Equity attributable to owners of parent¥3.2B¥3.34B¥3.3B¥3.79B¥3.91B
Retained earnings¥2.38B¥2.52B¥2.45B¥2.67B¥2.79B
Treasury stock-¥63K-¥100K-¥100K-¥149K-¥149K

Sources

Show source documents (5)
  • EDINET (FSA Japan)

    有価証券報告書-第5期(2025/04/01-2026/03/31)

    ID S100YK3E2026-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第4期(2024/04/01-2025/03/31)

    ID S100W4QZ2025-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第3期(2023/04/01-2024/03/31)

    ID S100TX1I2024-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第2期(2022/04/01-2023/03/31)

    ID S100R6MQ2023-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第1期(令和3年10月1日-令和4年3月31日)

    ID S100OG2Y2022-06-27Open

Extracted from XBRL: 46 / Derived from other figures: 1

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