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MitsubaMITSUBA Corporation7280東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

Mitsuba revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed -0.2% from the prior year, operating profit +14.2%.

Five-year trend

Revenue¥348.6B
FY ending Mar 2022: ¥286.5B¥286.5BFY ending Mar 2023: ¥319.5B¥319.5BFY ending Mar 2024: ¥344.2B¥344.2BFY ending Mar 2025: ¥349.4B¥349.4BFY ending Mar 2026: ¥348.6B¥348.6BFY22FY23FY24FY25FY26
Operating income¥23.9B
FY ending Mar 2022: ¥7.19B¥7.19BFY ending Mar 2023: ¥6.72B¥6.72BFY ending Mar 2024: ¥21.2B¥21.2BFY ending Mar 2025: ¥20.9B¥20.9BFY ending Mar 2026: ¥23.9B¥23.9BFY22FY23FY24FY25FY26
Operating margin6.9%
FY ending Mar 2022: 2.5%2.5%FY ending Mar 2023: 2.1%2.1%FY ending Mar 2024: 6.1%6.1%FY ending Mar 2025: 6.0%6.0%FY ending Mar 2026: 6.9%6.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.4%
Asset turnover1.02×
ROA3.5%
ROA3.5%
Financial leverage4.22×
ROE14.6%

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

Net margin3.4%
2022: 0.0%0.0%2023: 0.4%0.4%2024: 4.0%4.0%2025: 3.4%3.4%2026: 3.4%3.4%2223242526
Asset turnover1.02×
2022: 0.84×0.84×2023: 0.95×0.95×2024: 1.00×1.00×2025: 1.01×1.01×2026: 1.02×1.02×2223242526
ROA3.5%
2022: 0.0%0.0%2023: 0.4%0.4%2024: 4.0%4.0%2025: 3.4%3.4%2026: 3.5%3.5%2223242526
Financial leverage4.22×
2022: 5.27×5.27×2023: 5.41×5.41×2024: 5.10×5.10×2025: 4.60×4.60×2026: 4.22×4.22×2223242526
ROE14.6%
2022: 0.1%0.1%2023: 1.9%1.9%2024: 20.4%20.4%2025: 15.8%15.8%2026: 14.6%14.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20220.0%0.84×0.0%5.27×0.1%
20230.4%0.95×0.4%5.41×1.9%
20244.0%1.00×4.0%5.10×20.4%
20253.4%1.01×3.4%4.60×15.8%
20263.4%1.02×3.5%4.22×14.6%

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 ÷ revenue22.2%
2021: 37.4%37.4%2022: 34.7%34.7%2023: 29.3%29.3%2024: 27.4%27.4%2025: 24.0%24.0%2026: 22.2%22.2%212223242526
PPE ÷ total assets22.2%
2021: 29.4%29.4%2022: 29.0%29.0%2023: 28.5%28.5%2024: 26.4%26.4%2025: 25.1%25.1%2026: 22.2%22.2%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¥16.5B
2021: ¥11.7B¥11.7B2022: ¥13.3B¥13.3B2023: ¥13.9B¥13.9B2024: ¥14.9B¥14.9B2025: ¥15.8B¥15.8B2026: ¥16.5B¥16.5B212223242526
R&D / revenue4.7%
2021: 4.4%4.4%2022: 4.7%4.7%2023: 4.4%4.4%2024: 4.3%4.3%2025: 4.5%4.5%2026: 4.7%4.7%212223242526
Receivable days—
2021: 69d69d212223242526
Payable days29d
2021: 44d44d2022: 37d37d2023: 27d27d2024: 27d27d2025: 26d26d2026: 29d29d212223242526

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
Revenue286,482319,500344,154349,353348,599
Cost of revenue247,573279,457291,677295,067291,617
Gross profit38,90840,04352,47754,28656,981
SG&A31,72133,32431,32433,35533,072
Operating income7,1876,71821,15220,93023,908
Pretax income4,8985,85518,51618,09117,706
Income tax3,0822,9852,8564,4696,551
Net income attributable to owners831,18513,74111,86411,820
Operating margin2.5%2.1%6.1%6.0%6.9%

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 22%
1%
5%
Other assets 43%

Funding

7%
Other liabilities 55%
Equity 38%

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¥73.3B¥74.3B¥101.5B¥97.1B¥100.6B
Total assets¥342.8B¥328.5B¥357.5B¥333.5B¥348.7B
Net assets¥88.2B¥87B¥122.6B¥110.9B¥133.5B
Share capital¥5B¥5B¥5B¥5B¥5B
Property, plant and equipment¥99.4B¥93.7B¥94.3B¥83.9B¥77.3B
Intangible assets excluding goodwill¥3.42B¥3.68B¥3.41B¥3.11B¥2.67B
Investment securities¥15.9B¥15.7B¥18.3B¥16.2B¥16.2B
Current assets¥206.7B¥198.2B¥221B¥210.6B¥227.6B
Current liabilities¥115.4B¥130.5B¥168.6B¥152.3B¥131B
Trade payables¥25.4B¥20.4B¥21.6B¥20.6B¥23.6B
Short-term borrowings¥56.7B¥75.8B¥114.2B¥98.7B¥73B
Long-term borrowings¥121.8B¥93.6B¥48.9B¥51.9B¥64.6B
Bonds¥1.04B¥1.01B¥1B¥1B—
Interest-bearing debt¥179.6Bderived¥170.4Bderived¥164.1Bderived¥151.6Bderived—
Total liabilities¥254.5B¥241.5B¥234.9B¥222.6B¥215.2B
Non-controlling interests¥20.2B¥20.2B¥20.9B¥15.2B¥13.6B
Equity attributable to owners of parent¥65.1B¥59B¥75.4B¥74.8B¥86.9B
Retained earnings¥27.2B¥28.3B¥45.2B¥56.2B¥67B
Treasury stock-¥603M-¥603M-¥603M-¥604M-¥124M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第81期(2025/04/01－2026/03/31)

    ID S100Y9OD2026-06-24Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第80期(2024/04/01－2025/03/31)

    ID S100W8I72025-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第79期(2023/04/01－2024/03/31)

    ID S100TNHY2024-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第78期(2022/04/01－2023/03/31)

    ID S100QYZZ2023-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(令和3年4月1日－令和4年3月31日)

    ID S100OBF42022-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(令和2年4月1日－令和3年3月31日)

    ID S100LKF52021-06-25Open

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

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