MurakamiMURAKAMI CORPORATION7292東証スタンダード輸送用機器FY ending Mar 2026, consolidated, J-GAAP

Murakami revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +5.9% from the prior year, operating profit +3.3%.

Five-year trend

Revenue¥115.7B
FY ending Mar 2022: ¥73.6B¥73.6BFY ending Mar 2023: ¥90.6B¥90.6BFY ending Mar 2024: ¥104.6B¥104.6BFY ending Mar 2025: ¥109.2B¥109.2BFY ending Mar 2026: ¥115.7B¥115.7BFY22FY23FY24FY25FY26
Operating income¥9.16B
FY ending Mar 2022: ¥4.86B¥4.86BFY ending Mar 2023: ¥5.58B¥5.58BFY ending Mar 2024: ¥8.34B¥8.34BFY ending Mar 2025: ¥8.86B¥8.86BFY ending Mar 2026: ¥9.16B¥9.16BFY22FY23FY24FY25FY26
Operating margin7.9%
FY ending Mar 2022: 6.6%6.6%FY ending Mar 2023: 6.2%6.2%FY ending Mar 2024: 8.0%8.0%FY ending Mar 2025: 8.1%8.1%FY ending Mar 2026: 7.9%7.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.3%
Asset turnover0.97×
ROA5.1%
ROA5.1%
Financial leverage1.51×
ROE7.7%

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

Net margin5.3%
2022: 5.3%5.3%2023: 5.9%5.9%2024: 5.6%5.6%2025: 5.4%5.4%2026: 5.3%5.3%2223242526
Asset turnover0.97×
2022: 0.83×0.83×2023: 0.96×0.96×2024: 1.01×1.01×2025: 0.98×0.98×2026: 0.97×0.97×2223242526
ROA5.1%
2022: 4.3%4.3%2023: 5.7%5.7%2024: 5.7%5.7%2025: 5.3%5.3%2026: 5.1%5.1%2223242526
Financial leverage1.51×
2022: 1.34×1.34×2023: 1.38×1.38×2024: 1.44×1.44×2025: 1.48×1.48×2026: 1.51×1.51×2223242526
ROE7.7%
2022: 5.8%5.8%2023: 7.8%7.8%2024: 8.2%8.2%2025: 7.9%7.9%2026: 7.7%7.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20225.3%0.83×4.3%1.34×5.8%
20235.9%0.96×5.7%1.38×7.8%
20245.6%1.01×5.7%1.44×8.2%
20255.4%0.98×5.3%1.48×7.9%
20265.3%0.97×5.1%1.51×7.7%

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 ÷ revenue23.7%
2021: 32.8%32.8%2022: 32.2%32.2%2023: 26.7%26.7%2024: 23.5%23.5%2025: 23.8%23.8%2026: 23.7%23.7%212223242526
PPE ÷ total assets22.5%
2021: 28.7%28.7%2022: 26.6%26.6%2023: 24.1%24.1%2024: 23.0%23.0%2025: 22.5%22.5%2026: 22.5%22.5%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¥1.09B
2021: ¥1.1B¥1.1B2022: ¥1.31B¥1.31B2023: ¥1.02B¥1.02B2024: ¥924M¥924M2025: ¥1.09B¥1.09B2026: ¥1.09B¥1.09B212223242526
R&D / revenue0.9%
2021: 1.5%1.5%2022: 1.8%1.8%2023: 1.1%1.1%2024: 0.9%0.9%2025: 1.0%1.0%2026: 0.9%0.9%212223242526
Receivable days55d
2021: 59d59d2022: 57d57d2023: 58d58d2024: 51d51d2025: 55d55d2026: 55d55d212223242526
Payable days45d
2021: 45d45d2022: 45d45d2023: 47d47d2024: 42d42d2025: 48d48d2026: 45d45d212223242526

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
Revenue73,59590,643104,601109,205115,651
Cost of revenue61,52877,60588,52491,94197,214
Gross profit12,06613,03716,07617,26318,436
SG&A7,2027,4537,7408,4029,280
Operating income4,8645,5848,3368,8619,156
Pretax income5,9897,8759,4969,85710,133
Income tax1,4881,5112,6202,9392,904
Net income attributable to owners3,8655,3705,8875,9436,079
Operating margin6.6%6.2%8.0%8.1%7.9%

Balance sheet (reported items)

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

Assets

Cash 35%
Receivables 14%
Property, plant and equipment 23%
1%
7%
Other assets 20%

Funding

Trade payables 10%
Other liabilities 10%
Equity 80%

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¥33.7B¥37.6B¥41.3B¥45.2B¥43.2B
Total assets¥89.2B¥100.4B¥106.8B¥115.5B¥122.2B
Net assets¥72B¥79B¥86.1B¥92.3B¥98.1B
Share capital¥3.17B¥3.17B¥3.17B¥3.17B¥3.17B
Trade receivables¥11.5B¥14.3B¥14.6B¥16.6B¥17.3B
Property, plant and equipment¥23.7B¥24.2B¥24.6B¥26B¥27.5B
Intangible assets excluding goodwill¥1.4B¥1.36B¥1.22B¥1.18B¥1.3B
Investment securities¥4.43B¥3.99B¥5.56B¥4.83B¥8.03B
Current assets¥56.4B¥66.9B¥70.7B¥78.6B¥80.4B
Current liabilities¥14B¥19.5B¥17.7B¥20B¥20.2B
Trade payables¥7.57B¥9.89B¥10.3B¥12.1B¥12B
Long-term borrowings¥1.6B————
Total liabilities¥17.2B¥21.3B¥20.7B¥23.3B¥24.1B
Non-controlling interests¥2.33B¥2.92B¥3.08B¥3.34B¥3.25B
Equity attributable to owners of parent¥66.7B¥70.6B¥73.1B¥77B¥80.6B
Retained earnings¥61.6B¥66.1B¥68.2B¥72B¥75.5B
Treasury stock-¥1.56B-¥2.09B-¥1.66B-¥1.62B-¥1.59B

Sources

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

    有価証券報告書-第83期(2025/04/01-2026/03/31)

    ID S100YHRX2026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第82期(2024/04/01-2025/03/31)

    ID S100W6YA2025-06-26Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第81期(2023/04/01-2024/03/31)

    ID S100U0Q42024-07-09Open
  • EDINET (FSA Japan)

    有価証券報告書-第80期(2022/04/01-2023/03/31)

    ID S100R1IF2023-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第79期(令和3年4月1日-令和4年3月31日)

    ID S100OCV42022-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第78期(令和2年4月1日-令和3年3月31日)

    ID S100LS4Q2021-06-29Open

Extracted from XBRL: 52 / Derived from other figures: 1

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