MipoxMipox Corporation5381東証スタンダードガラス・土石製品FY ending Mar 2026, consolidated, J-GAAP

Mipox revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +7.9% from the prior year, operating profit -38.5%.

Five-year trend

Revenue¥12.1B
FY ending Mar 2022: ¥10.4B¥10.4BFY ending Mar 2023: ¥10B¥10BFY ending Mar 2024: ¥9.35B¥9.35BFY ending Mar 2025: ¥11.2B¥11.2BFY ending Mar 2026: ¥12.1B¥12.1BFY22FY23FY24FY25FY26
Operating income¥579.4M
FY ending Mar 2022: ¥1.47B¥1.47BFY ending Mar 2023: ¥213M¥213MFY ending Mar 2024: -¥442.3M-¥442.3MFY ending Mar 2025: ¥942.2M¥942.2MFY ending Mar 2026: ¥579.4M¥579.4MFY22FY23FY24FY25FY26
Operating margin4.8%
FY ending Mar 2022: 14.0%14.0%FY ending Mar 2023: 2.1%2.1%FY ending Mar 2024: -4.7%-4.7%FY ending Mar 2025: 8.4%8.4%FY ending Mar 2026: 4.8%4.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin4.2%
Asset turnover0.71×
ROA3.0%
ROA3.0%
Financial leverage2.07×
ROE6.2%

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

Net margin4.2%
2022: 14.8%14.8%2023: 0.5%0.5%2025: 8.2%8.2%2026: 4.2%4.2%2223242526
Asset turnover0.71×
2022: 0.72×0.72×2023: 0.65×0.65×2025: 0.70×0.70×2026: 0.71×0.71×2223242526
ROA3.0%
2022: 10.6%10.6%2023: 0.3%0.3%2024: -2.5%-2.5%2025: 5.7%5.7%2026: 3.0%3.0%2223242526
Financial leverage2.07×
2022: 1.85×1.85×2023: 1.97×1.97×2025: 2.09×2.09×2026: 2.07×2.07×2223242526
ROE6.2%
2022: 19.6%19.6%2023: 0.6%0.6%2025: 11.9%11.9%2026: 6.2%6.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202214.8%0.72×10.6%1.85×19.6%
20230.5%0.65×0.3%1.97×0.6%
2024——×-2.5%—×—
20258.2%0.70×5.7%2.09×11.9%
20264.2%0.71×3.0%2.07×6.2%

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 ÷ revenue56.7%
2021: 43.1%43.1%2022: 32.1%32.1%2023: 66.4%66.4%2024: 70.5%70.5%2025: 60.3%60.3%2026: 56.7%56.7%212223242526
PPE ÷ total assets37.9%
2021: 28.1%28.1%2022: 22.9%22.9%2023: 41.1%41.1%2024: 41.3%41.3%2025: 42.3%42.3%2026: 37.9%37.9%212223242526
Goodwill ÷ parent equity0.3%
2022: 1.0%1.0%2023: 1.2%1.2%2024: 0.7%0.7%2025: 0.5%0.5%2026: 0.3%0.3%212223242526
Goodwill balance¥28M
2022: ¥81M¥81M2023: ¥92.5M¥92.5M2024: ¥52.7M¥52.7M2025: ¥40.3M¥40.3M2026: ¥28M¥28M212223242526

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¥212M
2021: ¥70M¥70M2022: ¥48M¥48M2023: ¥133M¥133M2024: ¥122M¥122M2025: ¥158M¥158M2026: ¥212M¥212M212223242526
R&D / revenue1.8%
2021: 1.0%1.0%2022: 0.5%0.5%2023: 1.3%1.3%2024: 1.3%1.3%2025: 1.4%1.4%2026: 1.8%1.8%212223242526
Receivable days—
2021: 95d95d212223242526
Payable days—
2021: 48d48d2022: 47d47d2023: 44d44d2024: 37d37d2025: 51d51d212223242526

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
Revenue10,44910,0299,35411,17212,059
Cost of revenue5,9016,5656,7776,8027,378
Gross profit4,5493,4642,5774,3704,681
SG&A3,0823,2513,0203,4274,101
Operating income1,467213-442942579
Pretax income1,419430-150858831
Income tax-131384259-54325
Net income attributable to owners1,55045-409912506
Operating margin14.0%2.1%-4.7%8.4%4.8%

Balance sheet (reported items)

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

Assets

Cash 17%
Property, plant and equipment 38%
1%
1%
Other assets 43%

Funding

Other liabilities 50%
Equity 50%
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¥2.23B¥2.45B¥2.49B¥2.31B¥3.08B
Total assets¥14.6B¥16.2B¥16B¥15.9B¥18.1B
Net assets¥8.09B¥8B¥7.48B¥8.46B¥8.95B
Share capital¥3.38B¥3.38B¥3.38B¥3.38B¥3.38B
Property, plant and equipment¥3.35B¥6.66B¥6.6B¥6.74B¥6.84B
Intangible assets excluding goodwill¥91.1M¥116M¥90.7M¥90M¥79.3M
Goodwill¥81M¥92.5M¥52.7M¥40.3M¥28M
Investment securities¥55M¥55M¥55M¥162.6M¥277.3M
Current assets¥10.6B¥9.03B¥8.77B¥8.47B¥10.4B
Current liabilities¥4B¥5.07B¥4.93B¥5.44B¥6.8B
Trade payables¥756.5M¥793.6M¥679.7M¥945.6M—
Short-term borrowings¥400M¥1.87B¥1.65B¥2.07B¥3.58B
Long-term borrowings¥2.17B¥2.85B¥3.14B¥1.86B¥1.87B
Bonds¥42.5M¥15M———
Interest-bearing debt¥2.62Bderived¥4.74Bderived———
Total liabilities¥6.52B¥8.2B¥8.49B¥7.47B¥9.12B
Equity attributable to owners of parent¥7.91B¥7.74B¥7.19B¥8.1B¥8.3B
Retained earnings¥1.71B¥1.54B¥985.4M¥1.9B¥2.26B
Treasury stock-¥104.2M-¥104.2M-¥104.3M-¥106M-¥262M

Sources

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

    有価証券報告書-第96期(2025/04/01-2026/03/31)

    ID S100YFK22026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第95期(2024/04/01-2025/03/31)

    ID S100W5W02025-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第94期(2023/04/01-2024/03/31)

    ID S100TUMP2024-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第93期(2022/04/01-2023/03/31)

    ID S100R4PD2023-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第92期(令和3年4月1日-令和4年3月31日)

    ID S100OIEL2022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第91期(令和2年4月1日-令和3年3月31日)

    ID S100LVLS2021-06-30Open

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

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