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Mitsubishi PencilMITSUBISHI PENCIL CO.,LTD.7976東証プライムその他製品FY ending Dec 2025, consolidated, J-GAAP

Mitsubishi Pencil revenue and profit

Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed +1.1% from the prior year, operating profit -20.5%.

Five-year trend

Revenue¥89.8B
FY ending Dec 2021: ¥61.9B¥61.9BFY ending Dec 2022: ¥69B¥69BFY ending Dec 2023: ¥74.8B¥74.8BFY ending Dec 2024: ¥88.8B¥88.8BFY ending Dec 2025: ¥89.8B¥89.8BFY21FY22FY23FY24FY25
Operating income¥9.69B
FY ending Dec 2021: ¥7.52B¥7.52BFY ending Dec 2022: ¥9.24B¥9.24BFY ending Dec 2023: ¥11.9B¥11.9BFY ending Dec 2024: ¥12.2B¥12.2BFY ending Dec 2025: ¥9.69B¥9.69BFY21FY22FY23FY24FY25
Operating margin10.8%
FY ending Dec 2021: 12.1%12.1%FY ending Dec 2022: 13.4%13.4%FY ending Dec 2023: 15.8%15.8%FY ending Dec 2024: 13.7%13.7%FY ending Dec 2025: 10.8%10.8%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin6.9%
Asset turnover0.50×
ROA3.5%
ROA3.5%
Financial leverage1.65×
ROE5.7%

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

Net margin6.9%
2021: 9.1%9.1%2022: 10.1%10.1%2023: 13.6%13.6%2024: 12.7%12.7%2025: 6.9%6.9%2122232425
Asset turnover0.50×
2021: 0.50×0.50×2022: 0.54×0.54×2023: 0.54×0.54×2024: 0.55×0.55×2025: 0.50×0.50×2122232425
ROA3.5%
2021: 4.6%4.6%2022: 5.5%5.5%2023: 7.3%7.3%2024: 7.0%7.0%2025: 3.5%3.5%2122232425
Financial leverage1.65×
2021: 1.39×1.39×2022: 1.40×1.40×2023: 1.43×1.43×2024: 1.55×1.55×2025: 1.65×1.65×2122232425
ROE5.7%
2021: 6.3%6.3%2022: 7.6%7.6%2023: 10.5%10.5%2024: 10.8%10.8%2025: 5.7%5.7%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20219.1%0.50×4.6%1.39×6.3%
202210.1%0.54×5.5%1.40×7.6%
202313.6%0.54×7.3%1.43×10.5%
202412.7%0.55×7.0%1.55×10.8%
20256.9%0.50×3.5%1.65×5.7%

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 ÷ revenue37.0%
2020: 43.2%43.2%2021: 39.8%39.8%2022: 34.8%34.8%2023: 30.1%30.1%2024: 35.8%35.8%2025: 37.0%37.0%202122232425
PPE ÷ total assets18.2%
2020: 20.7%20.7%2021: 19.9%19.9%2022: 18.3%18.3%2023: 15.4%15.4%2024: 18.0%18.0%2025: 18.2%18.2%202122232425
Goodwill ÷ parent equity5.3%
2020: 0.3%0.3%2021: 0.2%0.2%2022: 0.0%0.0%2024: 5.3%5.3%2025: 5.3%5.3%202122232425
Goodwill balance¥5.84B
2020: ¥269M¥269M2021: ¥154M¥154M2022: ¥33M¥33M2024: ¥5.74B¥5.74B2025: ¥5.84B¥5.84B202122232425

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¥4.21B
2020: ¥3.01B¥3.01B2021: ¥3.24B¥3.24B2022: ¥3.34B¥3.34B2023: ¥3.68B¥3.68B2024: ¥4.39B¥4.39B2025: ¥4.21B¥4.21B202122232425
R&D / revenue4.7%
2020: 5.5%5.5%2021: 5.2%5.2%2022: 4.8%4.8%2023: 4.9%4.9%2024: 4.9%4.9%2025: 4.7%4.7%202122232425
Cash conversion cycle305d
2020: 232d232d2021: 221d221d2022: 214d214d2023: 198d198d2024: 258d258d2025: 305d305d202122232425
Receivable days83d
2020: 100d100d2021: 98d98d2022: 86d86d2023: 84d84d2024: 80d80d2025: 83d83d202122232425
Inventory days248d
2020: 215d215d2021: 220d220d2022: 212d212d2023: 207d207d2024: 265d265d2025: 248d248d202122232425
Payable days25d
2020: 83d83d2021: 97d97d2022: 84d84d2023: 93d93d2024: 87d87d2025: 25d25d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue61,89468,99774,80188,82089,814
Cost of revenue31,22635,04436,35541,98045,291
Gross profit30,66733,95338,44646,84044,522
SG&A23,14624,70926,59434,65034,830
Operating income7,5209,24311,85112,1899,692
Pretax income8,09510,18014,29616,6429,743
Income tax2,1823,0813,8515,0803,266
Net income attributable to owners5,6586,95110,16611,2726,235
Operating margin12.1%13.4%15.8%13.7%10.8%

Balance sheet (reported items)

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

Assets

Cash 18%
Receivables 11%
Inventories 17%
Property, plant and equipment 18%
Intangibles and goodwill 10%
Investment securities 18%
8%

Funding

2%
Other liabilities 21%
Equity 77%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥44.5B¥47.1B¥55.9B¥39.6B¥32.8B
Total assets¥123.8B¥130.8B¥146B¥176.9B¥183B
Net assets¥97.7B¥105B¥116.9B¥130.7B¥140.4B
Share capital¥4.5B¥4.5B¥4.5B¥4.5B¥4.5B
Trade receivables¥16.6B¥16.3B¥17.3B¥19.6B¥20.3B
Inventories¥18.8B¥20.4B¥20.7B¥30.4B¥30.8B
Property, plant and equipment¥24.6B¥24B¥22.5B¥31.8B¥33.3B
Intangible assets excluding goodwill¥1.4B¥1.22B¥1.09B¥12.2B¥12.7B
Goodwill¥154M¥33M—¥5.74B¥5.84B
Investment securities¥14.2B¥16.5B¥20B¥26.1B¥32B
Current assets¥81.4B¥86.4B¥98.3B¥95.2B¥91.8B
Current liabilities¥17.6B¥17.3B¥19.8B¥24.4B¥14.7B
Trade payables¥8.31B¥8.07B¥9.3B¥10B¥3.14B
Short-term borrowings¥1.52B¥1.52B¥1.52B¥1.74B¥1.74B
Long-term borrowings¥3.3B¥2.58B¥1.86B¥9.89B¥13.2B
Total liabilities¥26.1B¥25.8B¥29.1B¥46.2B¥42.6B
Non-controlling interests¥1.79B¥1.91B¥2.19B¥2.35B¥1.91B
Equity attributable to owners of parent¥89.2B¥93.2B¥100.5B¥107.9B¥109.8B
Retained earnings¥87.7B¥91.8B¥100B¥104.6B¥106.5B
Treasury stock-¥6.95B-¥7.1B-¥8.01B-¥5.16B-¥6B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第151期(2025/01/01－2025/12/31)

    ID S100XRVX2026-03-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第150期(2024/01/01－2024/12/31)

    ID S100VH8V2025-03-27Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第149期(2023/01/01－2023/12/31)

    ID S100ULUZ2024-10-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第148期(2022/01/01－2022/12/31)

    ID S100QHKS2023-03-30Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第147期(令和3年1月1日－令和3年12月31日)

    ID S100PS4Y2022-12-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第146期(令和2年1月1日－令和2年12月31日)

    ID S100L1G52021-03-30Open

Extracted from XBRL: 56 / Derived from other figures: 1

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