NECNEC Corporation6701東証プライム電気機器FY ending Mar 2026, consolidated, IFRS

NEC revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +4.7% from the prior year, operating profit +40.3%.

Five-year trend

Revenue¥3.58T
FY ending Mar 2022: ¥3.01T¥3.01TFY ending Mar 2023: ¥3.31T¥3.31TFY ending Mar 2024: ¥3.48T¥3.48TFY ending Mar 2025: ¥3.42T¥3.42TFY ending Mar 2026: ¥3.58T¥3.58TFY22FY23FY24FY25FY26
Operating income¥359.9B
FY ending Mar 2022: ¥132.5B¥132.5BFY ending Mar 2023: ¥170.4B¥170.4BFY ending Mar 2024: ¥188B¥188BFY ending Mar 2025: ¥256.5B¥256.5BFY ending Mar 2026: ¥359.9B¥359.9BFY22FY23FY24FY25FY26
Operating margin10.0%
FY ending Mar 2022: 4.4%4.4%FY ending Mar 2023: 5.1%5.1%FY ending Mar 2024: 5.4%5.4%FY ending Mar 2025: 7.5%7.5%FY ending Mar 2026: 10.0%10.0%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin7.5%
Asset turnover0.82×
ROA6.2%
ROA6.2%
Financial leverage2.12×
ROE13.0%

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

Net margin7.5%
2022: 4.7%4.7%2023: 3.5%3.5%2024: 4.3%4.3%2025: 5.1%5.1%2026: 7.5%7.5%2223242526
Asset turnover0.82×
2022: 0.80×0.80×2023: 0.86×0.86×2024: 0.85×0.85×2025: 0.80×0.80×2026: 0.82×0.82×2223242526
ROA6.2%
2022: 3.8%3.8%2023: 3.0%3.0%2024: 3.6%3.6%2025: 4.1%4.1%2026: 6.2%6.2%2223242526
Financial leverage2.12×
2022: 2.49×2.49×2023: 2.47×2.47×2024: 2.32×2.32×2025: 2.21×2.21×2026: 2.12×2.12×2223242526
ROE13.0%
2022: 9.3%9.3%2023: 7.3%7.3%2024: 8.4%8.4%2025: 9.1%9.1%2026: 13.0%13.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20224.7%0.80×3.8%2.49×9.3%
20233.5%0.86×3.0%2.47×7.3%
20244.3%0.85×3.6%2.32×8.4%
20255.1%0.80×4.1%2.21×9.1%
20267.5%0.82×6.2%2.12×13.0%

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 ÷ revenue15.7%
2021: 18.5%18.5%2022: 17.9%17.9%2023: 17.0%17.0%2024: 14.7%14.7%2025: 16.9%16.9%2026: 15.7%15.7%212223242526
PPE ÷ total assets12.6%
2021: 15.1%15.1%2022: 14.4%14.4%2023: 14.1%14.1%2024: 12.1%12.1%2025: 13.4%13.4%2026: 12.6%12.6%212223242526
Goodwill ÷ parent equity20.5%
2021: 23.0%23.0%2022: 22.2%22.2%2023: 21.9%21.9%2024: 20.5%20.5%2025: 20.2%20.2%2026: 20.5%20.5%212223242526
Goodwill balance¥450.5B
2021: ¥300.5B¥300.5B2022: ¥336B¥336B2023: ¥355.6B¥355.6B2024: ¥392.3B¥392.3B2025: ¥393.9B¥393.9B2026: ¥450.5B¥450.5B212223242526

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¥105.2B
2021: ¥114.6B¥114.6B2022: ¥126.3B¥126.3B2023: ¥121.4B¥121.4B2024: ¥115.8B¥115.8B2025: ¥99.2B¥99.2B2026: ¥105.2B¥105.2B212223242526
R&D / revenue2.9%
2021: 3.8%3.8%2022: 4.2%4.2%2023: 3.7%3.7%2024: 3.3%3.3%2025: 2.9%2.9%2026: 2.9%2.9%212223242526

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
Revenue3,014,0953,313,0183,477,2623,423,4313,582,733
Cost of revenue2,127,6822,354,7702,471,4042,362,8752,401,437
Gross profit886,413958,2481,005,8581,060,5561,181,296
SG&A762,970793,700814,013777,424805,555
Operating income132,525170,447188,012256,497359,913
Pretax income144,436167,671185,011239,771398,175
Income tax-12,26736,15520,25955,107124,851
Net income attributable to owners141,277114,500149,521175,183270,228
Operating margin4.4%5.1%5.4%7.5%10.0%

Balance sheet (reported items)

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

Assets

Cash 15%
Property, plant and equipment 13%
Intangibles and goodwill 10%
Other assets 62%

Funding

Other liabilities 49%
Equity 51%

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¥430.8B¥419.5B¥476.5B¥584.6B¥659B
Total assets¥3.76T¥3.98T¥4.23T¥4.32T¥4.47T
Net assets¥1.79T¥1.91T¥2.09T¥2.07T¥2.28T
Share capital¥427.8B¥427.8B¥427.8B¥427.8B¥427.8B
Property, plant and equipment¥540.3B¥563.4B¥511B¥580.2B¥564.1B
Goodwill¥336B¥355.6B¥392.3B¥393.9B¥450.5B
Current assets¥1.84T¥2T¥2.14T¥2.22T¥2.46T
Total liabilities¥1.98T¥2.07T¥2.14T¥2.24T¥2.18T
Equity attributable to owners of parent¥1.51T¥1.62T¥1.92T¥1.95T¥2.2T
Retained earnings¥678.7B¥764.6B¥883.5B¥1.02T¥1.22T
Treasury stock-¥1.91B-¥31.6B-¥31.1B-¥30.7B-¥57.6B

Sources

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

    有価証券報告書-第188期(2025/04/01-2026/03/31)

    ID S100YBFV2026-06-18Open
  • EDINET (FSA Japan)

    有価証券報告書-第187期(2024/04/01-2025/03/31)

    ID S100VZ852025-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第186期(2023/04/01-2024/03/31)

    ID S100TNFD2024-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第185期(2022/04/01-2023/03/31)

    ID S100R0D02023-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第184期(令和3年4月1日-令和4年3月31日)

    ID S100OAPM2022-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第183期(令和2年4月1日-令和3年3月31日)

    ID S100LLHV2021-06-22Open

Extracted from XBRL: 45 / Derived from other figures: 1

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