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Musashi Seimitsu IndustryMUSASHI SEIMITSU INDUSTRY CO.,LTD.7220東証プライム輸送用機器FY ending Mar 2026, consolidated, J-GAAP

Musashi Seimitsu Industry revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed +0.0% from the prior year, operating profit +4.1%.

Five-year trend

Revenue¥347.2B
FY ending Mar 2022: ¥241.9B¥241.9BFY ending Mar 2023: ¥301.5B¥301.5BFY ending Mar 2024: ¥349.9B¥349.9BFY ending Mar 2025: ¥347.2B¥347.2BFY ending Mar 2026: ¥347.2B¥347.2BFY22FY23FY24FY25FY26
Operating income¥20.5B
FY ending Mar 2022: ¥8.41B¥8.41BFY ending Mar 2023: ¥7.68B¥7.68BFY ending Mar 2024: ¥18.4B¥18.4BFY ending Mar 2025: ¥19.7B¥19.7BFY ending Mar 2026: ¥20.5B¥20.5BFY22FY23FY24FY25FY26
Operating margin5.9%
FY ending Mar 2022: 3.5%3.5%FY ending Mar 2023: 2.5%2.5%FY ending Mar 2024: 5.3%5.3%FY ending Mar 2025: 5.7%5.7%FY ending Mar 2026: 5.9%5.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin0.4%
Asset turnover1.18×
ROA0.4%
ROA0.4%
Financial leverage3.00×
ROE1.3%

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

Net margin0.4%
2022: 2.2%2.2%2023: 0.8%0.8%2024: 2.3%2.3%2025: 2.2%2.2%2026: 0.4%0.4%2223242526
Asset turnover1.18×
2022: 0.93×0.93×2023: 1.14×1.14×2024: 1.25×1.25×2025: 1.21×1.21×2026: 1.18×1.18×2223242526
ROA0.4%
2022: 2.1%2.1%2023: 0.9%0.9%2024: 2.8%2.8%2025: 2.7%2.7%2026: 0.4%0.4%2223242526
Financial leverage3.00×
2022: 2.70×2.70×2023: 2.76×2.76×2024: 2.95×2.95×2025: 2.98×2.98×2026: 3.00×3.00×2223242526
ROE1.3%
2022: 5.6%5.6%2023: 2.5%2.5%2024: 8.3%8.3%2025: 8.1%8.1%2026: 1.3%1.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.2%0.93×2.1%2.70×5.6%
20230.8%1.14×0.9%2.76×2.5%
20242.3%1.25×2.8%2.95×8.3%
20252.2%1.21×2.7%2.98×8.1%
20260.4%1.18×0.4%3.00×1.3%

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 ÷ revenue37.1%
2021: 49.9%49.9%2022: 46.2%46.2%2023: 36.8%36.8%2024: 33.2%33.2%2025: 32.0%32.0%2026: 37.1%37.1%212223242526
PPE ÷ total assets42.8%
2021: 45.2%45.2%2022: 43.0%43.0%2023: 41.2%41.2%2024: 40.0%40.0%2025: 39.0%39.0%2026: 42.8%42.8%212223242526
Goodwill ÷ parent equity0.6%
2021: 0.7%0.7%2022: 0.4%0.4%2023: 0.1%0.1%2024: 0.7%0.7%2025: 0.8%0.8%2026: 0.6%0.6%212223242526
Goodwill balance¥586M
2021: ¥694M¥694M2022: ¥416M¥416M2023: ¥138M¥138M2024: ¥674M¥674M2025: ¥815M¥815M2026: ¥586M¥586M212223242526

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¥5.7B
2021: ¥4.35B¥4.35B2022: ¥5.44B¥5.44B2023: ¥6.43B¥6.43B2024: ¥5.88B¥5.88B2025: ¥5.39B¥5.39B2026: ¥5.7B¥5.7B212223242526
R&D / revenue1.6%
2021: 2.1%2.1%2022: 2.2%2.2%2023: 2.1%2.1%2024: 1.7%1.7%2025: 1.6%1.6%2026: 1.6%1.6%212223242526
Receivable days53d
2021: 60d60d2022: 59d59d2023: 56d56d2024: 52d52d2025: 54d54d2026: 53d53d212223242526
Payable days26d
2021: 37d37d2022: 32d32d2023: 31d31d2024: 30d30d2025: 28d28d2026: 26d26d212223242526

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
Revenue241,896301,500349,917347,196347,200
Cost of revenue209,861266,049299,204294,535291,749
Gross profit32,03435,45150,71352,66055,451
SG&A23,62127,77332,33932,93934,913
Operating income8,4137,67718,37419,72020,538
Pretax income8,7126,99413,71415,3489,273
Income tax3,1364,5825,4026,3826,927
Net income attributable to owners5,4292,4367,9217,7821,264
Operating margin3.5%2.5%5.3%5.7%5.9%

Balance sheet (reported items)

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

Assets

Cash 11%
Receivables 17%
Property, plant and equipment 43%
1%
3%
Other assets 25%

Funding

7%
Other liabilities 50%
Equity 43%
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¥28.3B¥26.8B¥26.7B¥34.2B¥33.9B
Total assets¥260B¥269.3B¥290.3B¥285.1B¥301.6B
Net assets¥112.3B¥114.4B¥125.4B¥124B¥131.3B
Share capital¥5.43B¥5.46B¥5.6B¥5.64B¥5.67B
Trade receivables¥39.2B¥46.4B¥49.4B¥51B¥50.2B
Property, plant and equipment¥111.7B¥110.9B¥116.1B¥111.2B¥128.9B
Intangible assets excluding goodwill¥5.53B¥4.29B¥4.24B¥3.66B¥2.99B
Goodwill¥416M¥138M¥674M¥815M¥586M
Investment securities¥12.6B¥12.9B¥16.6B¥13.1B¥9.8B
Current assets¥122.2B¥132.2B¥141.8B¥146.9B¥150.1B
Current liabilities¥92.8B¥111.8B¥107B¥95B¥117.9B
Trade payables¥18.5B¥22.5B¥24.3B¥22.3B¥20.9B
Short-term borrowings¥42.4B¥57.3B¥49.6B¥35.9B¥45.2B
Long-term borrowings¥41.9B¥29.8B¥41.6B¥50B¥36.8B
Total liabilities¥147.7B¥154.8B¥164.9B¥161.2B¥170.4B
Non-controlling interests¥11.7B¥11.7B¥9.62B¥9.21B¥9.22B
Equity attributable to owners of parent¥96.3B¥95.5B¥94.2B¥98.8B¥96.9B
Retained earnings¥87.7B¥86.9B¥88.7B¥93.2B¥91.2B
Treasury stock-¥8M-¥8M-¥8M-¥8M-¥8M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第99期(2025/04/01－2026/03/31)

    ID S100YGX62026-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第98期(2024/04/01－2025/03/31)

    ID S100W0UJ2025-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第97期(2023/04/01－2024/03/31)

    ID S100TPEP2024-06-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第96期(2022/04/01－2023/03/31)

    ID S100R1Q12023-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第95期(令和3年4月1日－令和4年3月31日)

    ID S100OE102022-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第94期(令和2年4月1日－令和3年3月31日)

    ID S100LN4H2021-06-23Open

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

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