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NIKKON HoldingsNIKKON Holdings Co.,Ltd.9072東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

NIKKON Holdings revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +8.9% from the prior year, operating profit +2.9%.

Five-year trend

Revenue¥269.9B
FY ending Mar 2022: ¥198.2B¥198.2BFY ending Mar 2023: ¥212.1B¥212.1BFY ending Mar 2024: ¥222.3B¥222.3BFY ending Mar 2025: ¥247.9B¥247.9BFY ending Mar 2026: ¥269.9B¥269.9BFY22FY23FY24FY25FY26
Operating income¥23.8B
FY ending Mar 2022: ¥19.5B¥19.5BFY ending Mar 2023: ¥19.6B¥19.6BFY ending Mar 2024: ¥21.2B¥21.2BFY ending Mar 2025: ¥23.2B¥23.2BFY ending Mar 2026: ¥23.8B¥23.8BFY22FY23FY24FY25FY26
Operating margin8.8%
FY ending Mar 2022: 9.8%9.8%FY ending Mar 2023: 9.2%9.2%FY ending Mar 2024: 9.6%9.6%FY ending Mar 2025: 9.3%9.3%FY ending Mar 2026: 8.8%8.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin6.5%
Asset turnover0.62×
ROA4.0%
ROA4.0%
Financial leverage1.99×
ROE8.0%

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

Net margin6.5%
2022: 7.4%7.4%2023: 7.5%7.5%2024: 7.5%7.5%2025: 6.7%6.7%2026: 6.5%6.5%2223242526
Asset turnover0.62×
2022: 0.58×0.58×2023: 0.61×0.61×2024: 0.59×0.59×2025: 0.60×0.60×2026: 0.62×0.62×2223242526
ROA4.0%
2022: 4.3%4.3%2023: 4.5%4.5%2024: 4.4%4.4%2025: 4.0%4.0%2026: 4.0%4.0%2223242526
Financial leverage1.99×
2022: 1.64×1.64×2023: 1.66×1.66×2024: 1.72×1.72×2025: 1.85×1.85×2026: 1.99×1.99×2223242526
ROE8.0%
2022: 7.1%7.1%2023: 7.5%7.5%2024: 7.6%7.6%2025: 7.5%7.5%2026: 8.0%8.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20227.4%0.58×4.3%1.64×7.1%
20237.5%0.61×4.5%1.66×7.5%
20247.5%0.59×4.4%1.72×7.6%
20256.7%0.60×4.0%1.85×7.5%
20266.5%0.62×4.0%1.99×8.0%

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 ÷ revenue104.2%
2021: 117.2%117.2%2022: 117.2%117.2%2023: 114.4%114.4%2024: 114.3%114.3%2025: 110.1%110.1%2026: 104.2%104.2%212223242526
PPE ÷ total assets64.4%
2021: 66.4%66.4%2022: 68.4%68.4%2023: 67.3%67.3%2024: 65.4%65.4%2025: 63.3%63.3%2026: 64.4%64.4%212223242526
Goodwill ÷ parent equity3.9%
2024: 0.0%0.0%2025: 4.4%4.4%2026: 3.9%3.9%212223242526
Goodwill balance¥8.45B
2024: ¥2M¥2M2025: ¥9.8B¥9.8B2026: ¥8.45B¥8.45B212223242526

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 days48d
2021: 67d67d2022: 65d65d2023: 57d57d2024: 54d54d2025: 55d55d2026: 48d48d212223242526
Payable days21d
2021: 23d23d2022: 25d25d2023: 23d23d2024: 20d20d2025: 20d20d2026: 21d21d212223242526

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
Revenue198,159212,071222,324247,890269,862
Cost of revenue168,665181,502189,549209,086227,012
Gross profit29,49330,56932,77438,80342,849
SG&A9,98010,98811,53915,64819,031
Operating income19,51219,58021,23523,15523,818
Pretax income21,63722,77623,63424,14026,291
Income tax6,8846,8816,9987,3298,666
Net income attributable to owners14,74115,91316,60816,55017,493
Operating margin9.8%9.2%9.6%9.3%8.8%

Balance sheet (reported items)

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

Assets

8%
8%
Property, plant and equipment 65%
Intangibles and goodwill 9%
6%
4%

Funding

3%
Interest-bearing debt 24%
Other liabilities 18%
Equity 55%

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¥29.2B¥39.5B¥42.8B¥35.9B¥36.7B
Total assets¥339.5B¥360.7B¥388.4B¥431.3B¥436.4B
Net assets¥219B¥229.4B¥246.4B¥250.6B¥242.8B
Share capital¥11.3B¥11.3B¥11.3B¥11.3B¥11.3B
Trade receivables¥35.1B¥33.4B¥32.6B¥37.1B¥35.8B
Property, plant and equipment¥232.3B¥242.7B¥254.1B¥272.9B¥281.1B
Intangible assets excluding goodwill¥2.17B¥2.37B¥2.5B¥31.4B¥29.1B
Goodwill——¥2M¥9.8B¥8.45B
Investment securities¥20.9B¥22.2B¥33B¥28B¥27.3B
Current assets¥74.7B¥83B¥88B¥87B¥85.8B
Current liabilities¥44.4B¥58.4B¥59.4B¥76.6B¥59.8B
Trade payables¥11.5B¥11.2B¥10.6B¥11.2B¥12.9B
Short-term borrowings¥1.82B¥13.2B¥2.02B¥20.5B¥7.36B
Long-term borrowings¥13.2B¥10.1B¥27B¥25.7B¥56.1B
Bonds¥50B¥50B¥40B¥40B¥40B
Interest-bearing debt¥65Bderived¥73.2Bderived¥69.1Bderived¥86.2Bderived¥103.5Bderived
Total liabilities¥120.4B¥131.3B¥142B¥180.6B¥193.6B
Non-controlling interests¥328M¥314M¥344M¥8.86B¥4.92B
Equity attributable to owners of parent¥207.4B¥214.9B¥221.3B¥221.3B¥214.8B
Retained earnings¥190.3B¥194.9B¥198.2B¥207.9B¥217.7B
Treasury stock-¥6.61B-¥3.6B-¥552M-¥10.5B-¥25.5B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    訂正有価証券報告書－第85期(2025/04/01－2026/03/31)

    ID S100YVHV2026-08-07Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(2024/04/01－2025/03/31)

    ID S100W5BJ2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第83期(2023/04/01－2024/03/31)

    ID S100TVDD2024-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第82期(2022/04/01－2023/03/31)

    ID S100R9032023-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第81期(令和3年4月1日－令和4年3月31日)

    ID S100OJPY2022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第80期(令和2年4月1日－令和3年3月31日)

    ID S100LU9W2021-06-30Open

Extracted from XBRL: 56 / Derived from other figures: 2

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