Ncs&aNCS&A CO.,LTD.9709東証スタンダード情報・通信業FY ending Mar 2026, consolidated, J-GAAP

Ncs&a revenue and profit

Out of every ¥100 of sales, about ¥12 is left as operating profit. Revenue changed +9.7% from the prior year, operating profit +36.1%.

Five-year trend

Revenue¥22.5B
FY ending Mar 2022: ¥20.5B¥20.5BFY ending Mar 2023: ¥19.4B¥19.4BFY ending Mar 2024: ¥18.9B¥18.9BFY ending Mar 2025: ¥20.5B¥20.5BFY ending Mar 2026: ¥22.5B¥22.5BFY22FY23FY24FY25FY26
Operating income¥2.71B
FY ending Mar 2022: ¥1.3B¥1.3BFY ending Mar 2023: ¥1.54B¥1.54BFY ending Mar 2024: ¥1.64B¥1.64BFY ending Mar 2025: ¥1.99B¥1.99BFY ending Mar 2026: ¥2.71B¥2.71BFY22FY23FY24FY25FY26
Operating margin12.1%
FY ending Mar 2022: 6.3%6.3%FY ending Mar 2023: 7.9%7.9%FY ending Mar 2024: 8.7%8.7%FY ending Mar 2025: 9.7%9.7%FY ending Mar 2026: 12.1%12.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin9.2%
Asset turnover1.05×
ROA9.7%
ROA9.7%
Financial leverage1.60×
ROE15.5%

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

Net margin9.2%
2022: 4.8%4.8%2023: 6.6%6.6%2024: 8.1%8.1%2025: 10.3%10.3%2026: 9.2%9.2%2223242526
Asset turnover1.05×
2022: 1.16×1.16×2023: 1.07×1.07×2024: 1.00×1.00×2025: 1.01×1.01×2026: 1.05×1.05×2223242526
ROA9.7%
2022: 5.5%5.5%2023: 7.0%7.0%2024: 8.1%8.1%2025: 10.4%10.4%2026: 9.7%9.7%2223242526
Financial leverage1.60×
2022: 1.75×1.75×2023: 1.73×1.73×2024: 1.67×1.67×2025: 1.59×1.59×2026: 1.60×1.60×2223242526
ROE15.5%
2022: 9.7%9.7%2023: 12.2%12.2%2024: 13.6%13.6%2025: 16.6%16.6%2026: 15.5%15.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20224.8%1.16×5.5%1.75×9.7%
20236.6%1.07×7.0%1.73×12.2%
20248.1%1.00×8.1%1.67×13.6%
202510.3%1.01×10.4%1.59×16.6%
20269.2%1.05×9.7%1.60×15.5%

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 ÷ revenue1.9%
2021: 1.9%1.9%2022: 2.5%2.5%2023: 2.4%2.4%2024: 2.3%2.3%2025: 1.9%1.9%2026: 1.9%1.9%212223242526
PPE ÷ total assets2.0%
2021: 2.2%2.2%2022: 2.9%2.9%2023: 2.6%2.6%2024: 2.3%2.3%2025: 1.8%1.8%2026: 2.0%2.0%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¥313.7M
2021: ¥91.6M¥91.6M2022: ¥136.1M¥136.1M2023: ¥186.1M¥186.1M2024: ¥179.3M¥179.3M2025: ¥297.8M¥297.8M2026: ¥313.7M¥313.7M212223242526
R&D / revenue1.4%
2021: 0.5%0.5%2022: 0.7%0.7%2023: 1.0%1.0%2024: 0.9%0.9%2025: 1.5%1.5%2026: 1.4%1.4%212223242526
Receivable days—
2021: 97d97d212223242526
Payable days13d
2021: 16d16d2022: 14d14d2023: 18d18d2024: 21d21d2025: 24d24d2026: 13d13d212223242526

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
Revenue20,45819,38618,90820,49322,486
Cost of revenue14,94913,93013,26814,24315,311
Gross profit5,5105,4555,6396,2507,174
SG&A4,2133,9154,0014,2564,460
Operating income1,2971,5411,6381,9942,714
Pretax income1,2201,6162,1182,1102,870
Income tax2423435821803
Net income attributable to owners9781,2731,5372,1092,068
Operating margin6.3%7.9%8.7%9.7%12.1%

Balance sheet (reported items)

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

Assets

Cash 51%
2%
5%
6%
Other assets 36%

Funding

2%
Other liabilities 33%
Equity 65%
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¥9.3B¥9.14B¥9.84B¥11.1B¥11B
Total assets¥17.7B¥18.6B¥19.2B¥21.3B¥21.4B
Net assets¥10.1B¥10.6B¥12.3B¥14.2B¥13.9B
Share capital¥3.78B¥3.78B¥3.78B¥3.78B¥3.78B
Property, plant and equipment¥516.7M¥474.9M¥438M¥381.2M¥428.3M
Intangible assets excluding goodwill¥343.7M¥431.2M¥552.4M¥813.6M¥990M
Investment securities¥938M¥912.2M¥1.07B¥1.1B¥1.2B
Current assets¥14.7B¥15.6B¥16.1B¥17.3B¥16.8B
Current liabilities¥4.16B¥4.51B¥4.32B¥4.85B¥5.37B
Trade payables¥570.2M¥686.7M¥751M¥934.4M¥537.9M
Total liabilities¥7.57B¥7.96B¥6.96B¥7.09B¥7.53B
Equity attributable to owners of parent¥10.1B¥10.8B¥11.9B¥13.6B¥13.1B
Retained earnings¥2.96B¥3.87B¥4.95B¥6.58B¥7.61B
Treasury stock-¥584.7M-¥844.7M-¥839.2M-¥799.7M-¥2.29B

Sources

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

    有価証券報告書-第60期(2025/04/01-2026/03/31)

    ID S100YAMN2026-06-12Open
  • EDINET (FSA Japan)

    有価証券報告書-第59期(2024/04/01-2025/03/31)

    ID S100W0HA2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第58期(2023/04/01-2024/03/31)

    ID S100TOW72024-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第57期(2022/04/01-2023/03/31)

    ID S100R03W2023-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第56期(令和3年4月1日-令和4年3月31日)

    ID S100OC0V2022-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第55期(令和2年4月1日-令和3年3月31日)

    ID S100LMEC2021-06-22Open

Extracted from XBRL: 47 / Derived from other figures: 1

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