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MiyoshiOil&FatCo.MiyoshiOil&FatCo.,Ltd.4404東証スタンダード食料品FY ending Dec 2025, consolidated, J-GAAP

MiyoshiOil&FatCo. 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 -33.8%.

Five-year trend

Revenue¥59.5B
FY ending Dec 2021: ¥47.5B¥47.5BFY ending Dec 2022: ¥52.7B¥52.7BFY ending Dec 2023: ¥56.2B¥56.2BFY ending Dec 2024: ¥57B¥57BFY ending Dec 2025: ¥59.5B¥59.5BFY21FY22FY23FY24FY25
Operating income¥1.96B
FY ending Dec 2021: ¥698M¥698MFY ending Dec 2022: -¥1.6B-¥1.6BFY ending Dec 2023: ¥2.37B¥2.37BFY ending Dec 2024: ¥2.96B¥2.96BFY ending Dec 2025: ¥1.96B¥1.96BFY21FY22FY23FY24FY25
Operating margin3.3%
FY ending Dec 2021: 1.5%1.5%FY ending Dec 2022: -3.0%-3.0%FY ending Dec 2023: 4.2%4.2%FY ending Dec 2024: 5.2%5.2%FY ending Dec 2025: 3.3%3.3%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin16.2%
Asset turnover0.76×
ROA12.3%
ROA12.3%
Financial leverage2.61×
ROE32.0%

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

Net margin16.2%
2021: 1.4%1.4%2023: 3.7%3.7%2024: 4.9%4.9%2025: 16.2%16.2%2122232425
Asset turnover0.76×
2021: 0.90×0.90×2023: 0.93×0.93×2024: 0.84×0.84×2025: 0.76×0.76×2122232425
ROA12.3%
2021: 1.3%1.3%2022: -0.5%-0.5%2023: 3.4%3.4%2024: 4.2%4.2%2025: 12.3%12.3%2122232425
Financial leverage2.61×
2021: 2.37×2.37×2023: 2.70×2.70×2024: 2.76×2.76×2025: 2.61×2.61×2122232425
ROE32.0%
2021: 3.0%3.0%2023: 9.3%9.3%2024: 11.5%11.5%2025: 32.0%32.0%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20211.4%0.90×1.3%2.37×3.0%
2022——×-0.5%—×—
20233.7%0.93×3.4%2.70×9.3%
20244.9%0.84×4.2%2.76×11.5%
202516.2%0.76×12.3%2.61×32.0%

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 ÷ revenue42.8%
2020: 36.3%36.3%2021: 33.1%33.1%2022: 28.4%28.4%2023: 26.3%26.3%2024: 39.1%39.1%2025: 42.8%42.8%202122232425
PPE ÷ total assets30.3%
2020: 31.8%31.8%2021: 29.9%29.9%2022: 25.5%25.5%2023: 23.7%23.7%2024: 30.7%30.7%2025: 30.3%30.3%202122232425

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¥1.4B
2020: ¥1.4B¥1.4B2021: ¥1.37B¥1.37B2022: ¥1.24B¥1.24B2023: ¥1.29B¥1.29B2024: ¥1.39B¥1.39B2025: ¥1.4B¥1.4B202122232425
R&D / revenue2.3%
2020: 3.2%3.2%2021: 2.9%2.9%2022: 2.4%2.4%2023: 2.3%2.3%2024: 2.4%2.4%2025: 2.3%2.3%202122232425
Receivable days94d
2020: 93d93d2021: 95d95d2022: 102d102d2023: 99d99d2024: 97d97d2025: 94d94d202122232425
Payable days99d
2020: 81d81d2021: 100d100d2022: 111d111d2023: 98d98d2024: 93d93d2025: 99d99d202122232425

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
Revenue47,47652,74356,23657,03359,474
Cost of revenue40,32247,65546,60945,40548,208
Gross profit7,1545,0879,62711,62711,265
SG&A6,4566,6917,2558,6659,304
Operating income698-1,6042,3722,9611,960
Pretax income954-3922,9833,65913,883
Income tax269-1328988474,259
Net income attributable to owners677-2682,0772,8199,616
Operating margin1.5%-3.0%4.2%5.2%3.3%

Balance sheet (reported items)

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

Assets

Cash 12%
Receivables 18%
Property, plant and equipment 30%
2%
Investment securities 13%
Other assets 25%

Funding

Trade payables 15%
Other liabilities 34%
Equity 51%
0%

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¥5.53B¥4.96B¥6.11B¥7.07B¥9.67B
Total assets¥52.6B¥58.7B¥62.4B¥72.7B¥84.2B
Net assets¥25.3B¥24.6B¥28.3B¥31.1B¥42.7B
Share capital¥9.02B¥9.02B¥9.02B¥9.02B¥9.02B
Trade receivables¥12.4B¥14.7B¥15.2B¥15.2B¥15.3B
Property, plant and equipment¥15.7B¥15B¥14.8B¥22.3B¥25.5B
Intangible assets excluding goodwill¥394M¥525M¥942M¥1.58B¥1.78B
Investment securities¥8B¥7.44B¥9.73B¥10.4B¥11.1B
Current assets¥25.5B¥32.2B¥32.7B¥33.8B¥37.7B
Current liabilities¥18.7B¥24.6B¥26.2B¥25.6B¥23.9B
Trade payables¥11.1B¥14.5B¥12.6B¥11.5B¥13.1B
Short-term borrowings¥3.92B¥6.42B¥6.42B¥6.83B¥4.83B
Long-term borrowings¥4.47B¥5.18B¥2.79B¥3.54B¥3.23B
Total liabilities¥27.3B¥34.1B¥34.2B¥41.6B¥41.5B
Non-controlling interests¥31M¥40M¥47M¥39M¥47M
Equity attributable to owners of parent¥22.2B¥21.5B¥23.3B¥25.6B¥34.5B
Retained earnings¥7.87B¥7.18B¥8.95B¥11.3B¥20.2B
Treasury stock-¥147M-¥147M-¥124M-¥188M-¥152M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第100期(2025/01/01－2025/12/31)

    ID S100XSY82026-03-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第99期(2024/01/01－2024/12/31)

    ID S100VH5M2025-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第98期(2023/01/01－2023/12/31)

    ID S100T4UL2024-03-27Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第97期(2022/01/01－2022/12/31)

    ID S100RCG42023-07-10Open

  • EDINET (FSA Japan)

    有価証券報告書－第96期(令和3年1月1日－令和3年12月31日)

    ID S100NRIE2022-03-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第95期(令和2年1月1日－令和2年12月31日)

    ID S100L0YF2021-03-26Open

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

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