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NiproNIPRO CORPORATION8086東証プライム精密機器FY ending Mar 2026, consolidated, J-GAAP

Nipro revenue and profit

Out of every ¥100 of sales, about ¥6 is left as operating profit. Revenue changed +2.5% from the prior year, operating profit +41.5%.

Five-year trend

Revenue¥660.5B
FY ending Mar 2022: ¥494.8B¥494.8BFY ending Mar 2023: ¥545.2B¥545.2BFY ending Mar 2024: ¥586.8B¥586.8BFY ending Mar 2025: ¥644.6B¥644.6BFY ending Mar 2026: ¥660.5B¥660.5BFY22FY23FY24FY25FY26
Operating income¥37.6B
FY ending Mar 2022: ¥23.9B¥23.9BFY ending Mar 2023: ¥17.7B¥17.7BFY ending Mar 2024: ¥22.3B¥22.3BFY ending Mar 2025: ¥26.6B¥26.6BFY ending Mar 2026: ¥37.6B¥37.6BFY22FY23FY24FY25FY26
Operating margin5.7%
FY ending Mar 2022: 4.8%4.8%FY ending Mar 2023: 3.3%3.3%FY ending Mar 2024: 3.8%3.8%FY ending Mar 2025: 4.1%4.1%FY ending Mar 2026: 5.7%5.7%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin2.0%
Asset turnover0.55×
ROA1.1%
ROA1.1%
Financial leverage6.50×
ROE7.4%

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

Net margin2.0%
2022: 2.7%2.7%2023: 0.8%0.8%2024: 1.9%1.9%2025: 0.8%0.8%2026: 2.0%2.0%2223242526
Asset turnover0.55×
2022: 0.53×0.53×2023: 0.56×0.56×2024: 0.55×0.55×2025: 0.57×0.57×2026: 0.55×0.55×2223242526
ROA1.1%
2022: 1.4%1.4%2023: 0.5%0.5%2024: 1.0%1.0%2025: 0.4%0.4%2026: 1.1%1.1%2223242526
Financial leverage6.50×
2022: 5.53×5.53×2023: 5.80×5.80×2024: 6.16×6.16×2025: 6.40×6.40×2026: 6.50×6.50×2223242526
ROE7.4%
2022: 8.0%8.0%2023: 2.7%2.7%2024: 6.4%6.4%2025: 2.9%2.9%2026: 7.4%7.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.7%0.53×1.4%5.53×8.0%
20230.8%0.56×0.5%5.80×2.7%
20241.9%0.55×1.0%6.16×6.4%
20250.8%0.57×0.4%6.40×2.9%
20262.0%0.55×1.1%6.50×7.4%

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 ÷ revenue76.1%
2021: 73.7%73.7%2022: 76.3%76.3%2023: 79.3%79.3%2024: 82.1%82.1%2025: 78.2%78.2%2026: 76.1%76.1%212223242526
PPE ÷ total assets41.4%
2021: 39.3%39.3%2022: 40.6%40.6%2023: 42.1%42.1%2024: 43.4%43.4%2025: 43.0%43.0%2026: 41.4%41.4%212223242526
Goodwill ÷ parent equity17.1%
2021: 8.4%8.4%2022: 8.9%8.9%2023: 8.6%8.6%2024: 8.8%8.8%2025: 7.9%7.9%2026: 17.1%17.1%212223242526
Goodwill balance¥32.3B
2021: ¥13.6B¥13.6B2022: ¥15.1B¥15.1B2023: ¥14.5B¥14.5B2024: ¥15.6B¥15.6B2025: ¥14.1B¥14.1B2026: ¥32.3B¥32.3B212223242526

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¥26.8B
2021: ¥18.7B¥18.7B2022: ¥18.7B¥18.7B2023: ¥19.7B¥19.7B2024: ¥20.8B¥20.8B2025: ¥21.7B¥21.7B2026: ¥26.8B¥26.8B212223242526
R&D / revenue4.1%
2021: 4.1%4.1%2022: 3.8%3.8%2023: 3.6%3.6%2024: 3.6%3.6%2025: 3.4%3.4%2026: 4.1%4.1%212223242526
Receivable days97d
2021: 113d113d2022: 103d103d2023: 107d107d2024: 100d100d2025: 94d94d2026: 97d97d212223242526
Payable days69d
2021: 77d77d2022: 78d78d2023: 73d73d2024: 72d72d2025: 67d67d2026: 69d69d212223242526

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
Revenue494,789545,199586,785644,586660,538
Cost of revenue345,519381,749415,465453,702452,256
Gross profit149,269163,449171,320190,883208,282
SG&A125,386145,720148,985164,285170,657
Operating income23,88217,72922,33526,59837,624
Pretax income23,24316,77719,21919,08729,486
Income tax8,17710,8437,04912,41713,736
Net income attributable to owners13,4554,57411,1095,11313,504
Operating margin4.8%3.3%3.8%4.1%5.7%

Balance sheet (reported items)

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

Assets

7%
Receivables 15%
Property, plant and equipment 41%
7%
2%
Other assets 28%

Funding

7%
Interest-bearing debt 47%
Other liabilities 18%
Equity 28%

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¥90.1B¥84.7B¥96.6B¥101.7B¥88.4B
Total assets¥930.3B¥1.03T¥1.11T¥1.17T¥1.21T
Net assets¥199.9B¥242.2B¥269.8B¥311.6B¥334.8B
Share capital¥84.4B¥84.4B¥84.4B¥84.4B¥84.4B
Trade receivables¥140.3B¥160.3B¥160.2B¥166.9B¥175.7B
Property, plant and equipment¥377.8B¥432.6B¥481.5B¥503.8B¥502.6B
Intangible assets excluding goodwill¥32.8B¥34B¥35.1B¥35.5B¥51.7B
Goodwill¥15.1B¥14.5B¥15.6B¥14.1B¥32.3B
Investment securities¥45B¥37.2B¥32.9B¥15.3B¥18.9B
Current assets¥437.5B¥489.3B¥524.2B¥574.4B¥594.8B
Current liabilities¥312B¥302.9B¥366.5B¥350.5B¥428.5B
Trade payables¥73.5B¥76.1B¥81.5B¥83.8B¥85.3B
Short-term borrowings¥150.7B¥130.6B¥160.4B¥156.2B¥186B
Long-term borrowings¥267.6B¥316.6B¥302.8B¥310B¥279.4B
Bonds¥78.7B¥76.7B¥82B¥103B¥103.3B
Interest-bearing debt¥497Bderived¥523.8Bderived¥545.2Bderived¥569.2Bderived¥568.7Bderived
Total liabilities¥730.5B¥785.2B¥840B¥858.9B¥878.5B
Non-controlling interests¥14.6B¥35.9B¥37.1B¥59.2B¥60.7B
Equity attributable to owners of parent¥168.3B¥169.2B¥178B¥178.4B¥188.4B
Retained earnings¥94.7B¥95.5B¥104.3B¥104.8B¥114.8B
Treasury stock-¥10.7B-¥10.7B-¥10.7B-¥10.7B-¥10.7B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第73期(2025/04/01－2026/03/31)

    ID S100YJLK2026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第72期(2024/04/01－2025/03/31)

    ID S100W5PM2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第71期(2023/04/01－2024/03/31)

    ID S100TUDK2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第70期(2022/04/01－2023/03/31)

    ID S100R5KJ2023-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第69期(令和3年4月1日－令和4年3月31日)

    ID S100OJBW2022-06-28Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第68期(令和2年4月1日－令和3年3月31日)

    ID S100M0A92021-07-15Open

Extracted from XBRL: 57 / Derived from other figures: 2

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