Narasaki SangyoNARASAKI SANGYO CO., LTD.8085東証スタンダード卸売業FY ending Mar 2026, consolidated, J-GAAP

Narasaki Sangyo revenue and profit

Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed +6.9% from the prior year, operating profit +0.2%.

Five-year trend

Revenue¥120.3B
FY ending Mar 2022: ¥94.8B¥94.8BFY ending Mar 2023: ¥99.9B¥99.9BFY ending Mar 2024: ¥107.5B¥107.5BFY ending Mar 2025: ¥112.5B¥112.5BFY ending Mar 2026: ¥120.3B¥120.3BFY22FY23FY24FY25FY26
Operating income¥3.07B
FY ending Mar 2022: ¥2.3B¥2.3BFY ending Mar 2023: ¥2.8B¥2.8BFY ending Mar 2024: ¥2.98B¥2.98BFY ending Mar 2025: ¥3.06B¥3.06BFY ending Mar 2026: ¥3.07B¥3.07BFY22FY23FY24FY25FY26
Operating margin2.6%
FY ending Mar 2022: 2.4%2.4%FY ending Mar 2023: 2.8%2.8%FY ending Mar 2024: 2.8%2.8%FY ending Mar 2025: 2.7%2.7%FY ending Mar 2026: 2.6%2.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin1.9%
Asset turnover2.02×
ROA3.8%
ROA3.8%
Financial leverage2.44×
ROE9.2%

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

Net margin1.9%
2022: 1.7%1.7%2023: 2.1%2.1%2024: 2.1%2.1%2025: 2.0%2.0%2026: 1.9%1.9%2223242526
Asset turnover2.02×
2022: 1.97×1.97×2023: 1.99×1.99×2024: 1.90×1.90×2025: 1.92×1.92×2026: 2.02×2.02×2223242526
ROA3.8%
2022: 3.2%3.2%2023: 4.3%4.3%2024: 4.1%4.1%2025: 3.8%3.8%2026: 3.8%3.8%2223242526
Financial leverage2.44×
2022: 2.73×2.73×2023: 2.70×2.70×2024: 2.74×2.74×2025: 2.59×2.59×2026: 2.44×2.44×2223242526
ROE9.2%
2022: 8.8%8.8%2023: 11.5%11.5%2024: 11.2%11.2%2025: 9.9%9.9%2026: 9.2%9.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.7%1.97×3.2%2.73×8.8%
20232.1%1.99×4.3%2.70×11.5%
20242.1%1.90×4.1%2.74×11.2%
20252.0%1.92×3.8%2.59×9.9%
20261.9%2.02×3.8%2.44×9.2%

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 ÷ revenue8.1%
2021: 10.2%10.2%2022: 9.1%9.1%2023: 8.4%8.4%2024: 7.1%7.1%2025: 7.8%7.8%2026: 8.1%8.1%212223242526
PPE ÷ total assets15.6%
2021: 18.8%18.8%2022: 17.8%17.8%2023: 16.1%16.1%2024: 12.7%12.7%2025: 15.6%15.6%2026: 15.6%15.6%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.

Receivable days—
2021: 65d65d212223242526
Payable days57d
2021: 65d65d2022: 53d53d2023: 57d57d2024: 64d64d2025: 49d49d2026: 57d57d212223242526

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
Revenue94,79799,927107,455112,512120,282
Cost of revenue84,94789,31996,178100,527107,428
Gross profit9,85010,60711,27711,98512,854
SG&A7,5477,8088,2948,9239,786
Operating income2,3032,7982,9823,0623,068
Pretax income2,3952,8713,3853,2483,341
Income tax7936891,0589671,061
Net income attributable to owners1,5662,1392,3012,2412,242
Operating margin2.4%2.8%2.8%2.7%2.6%

Balance sheet (reported items)

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

Assets

Cash 21%
Property, plant and equipment 16%
0%
7%
Other assets 56%

Funding

Trade payables 27%
Other liabilities 26%
Equity 47%

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¥11.1B¥12.8B¥15B¥12.6B¥12.9B
Total assets¥48.2B¥52.3B¥60.6B¥56.5B¥62.6B
Net assets¥19.2B¥21.3B¥24.6B¥26.7B¥29.5B
Share capital¥2.35B¥2.35B¥2.35B¥2.35B¥2.35B
Property, plant and equipment¥8.59B¥8.43B¥7.67B¥8.82B¥9.76B
Intangible assets excluding goodwill¥174M¥143M¥128M¥132M¥96M
Investment securities¥3.27B¥3.48B¥4.42B¥3.95B¥4.61B
Current assets¥33.9B¥37.8B¥44.7B¥39B¥41.9B
Current liabilities¥24.2B¥26.4B¥31.4B¥25.3B¥27.8B
Trade payables¥12.3B¥14B¥16.9B¥13.6B¥16.8B
Short-term borrowings¥1.35B¥1.35B¥1.25B¥1.2B¥1.2B
Long-term borrowings¥498M¥678M¥410M¥230M¥525M
Total liabilities¥29B¥31B¥36.1B¥29.8B¥33.1B
Non-controlling interests¥459M¥497M¥528M¥562M¥462M
Equity attributable to owners of parent¥17.7B¥19.6B¥21.6B¥23.7B¥25B
Retained earnings¥14.7B¥16.5B¥18.5B¥20.5B¥22.1B
Treasury stock-¥686M-¥606M-¥535M-¥471M-¥853M

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 S100YHOM2026-06-23Open
  • EDINET (FSA Japan)

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

    ID S100WDQG2025-07-17Open
  • EDINET (FSA Japan)

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

    ID S100TWEG2024-06-27Open
  • EDINET (FSA Japan)

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

    ID S100R9JE2023-06-29Open
  • 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 S100OL572022-06-29Open
  • 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 S100LUL02021-06-29Open

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

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