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Nishio HoldingsNISHIO HOLDINGS CO., LTD.9699東証プライムサービス業FY ending Sep 2025, consolidated, J-GAAP

Nishio Holdings revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +8.0% from the prior year, operating profit +8.6%.

Five-year trend

Revenue¥215B
FY ending Sep 2021: ¥161.8B¥161.8BFY ending Sep 2022: ¥170.6B¥170.6BFY ending Sep 2023: ¥185.7B¥185.7BFY ending Sep 2024: ¥199B¥199BFY ending Sep 2025: ¥215B¥215BFY21FY22FY23FY24FY25
Operating income¥19.6B
FY ending Sep 2021: ¥13.7B¥13.7BFY ending Sep 2022: ¥14.9B¥14.9BFY ending Sep 2023: ¥16.3B¥16.3BFY ending Sep 2024: ¥18B¥18BFY ending Sep 2025: ¥19.6B¥19.6BFY21FY22FY23FY24FY25
Operating margin9.1%
FY ending Sep 2021: 8.5%8.5%FY ending Sep 2022: 8.7%8.7%FY ending Sep 2023: 8.8%8.8%FY ending Sep 2024: 9.1%9.1%FY ending Sep 2025: 9.1%9.1%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin5.6%
Asset turnover0.73×
ROA4.1%
ROA4.1%
Financial leverage2.23×
ROE9.2%

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

Net margin5.6%
2021: 5.5%5.5%2022: 5.4%5.4%2023: 5.5%5.5%2024: 5.8%5.8%2025: 5.6%5.6%2122232425
Asset turnover0.73×
2021: 0.65×0.65×2022: 0.67×0.67×2023: 0.70×0.70×2024: 0.71×0.71×2025: 0.73×0.73×2122232425
ROA4.1%
2021: 3.5%3.5%2022: 3.6%3.6%2023: 3.9%3.9%2024: 4.1%4.1%2025: 4.1%4.1%2122232425
Financial leverage2.23×
2021: 2.33×2.33×2022: 2.32×2.32×2023: 2.30×2.30×2024: 2.27×2.27×2025: 2.23×2.23×2122232425
ROE9.2%
2021: 8.3%8.3%2022: 8.3%8.3%2023: 8.8%8.8%2024: 9.4%9.4%2025: 9.2%9.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20215.5%0.65×3.5%2.33×8.3%
20225.4%0.67×3.6%2.32×8.3%
20235.5%0.70×3.9%2.30×8.8%
20245.8%0.71×4.1%2.27×9.4%
20255.6%0.73×4.1%2.23×9.2%

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 ÷ revenue75.6%
2020: 85.6%85.6%2021: 83.7%83.7%2022: 84.3%84.3%2023: 83.8%83.8%2024: 82.9%82.9%2025: 75.6%75.6%202122232425
PPE ÷ total assets54.7%
2020: 57.6%57.6%2021: 54.4%54.4%2022: 55.0%55.0%2023: 57.1%57.1%2024: 56.8%56.8%2025: 54.7%54.7%202122232425
Goodwill ÷ parent equity0.5%
2020: 2.5%2.5%2021: 1.9%1.9%2022: 1.4%1.4%2023: 1.0%1.0%2024: 0.8%0.8%2025: 0.5%0.5%202122232425
Goodwill balance¥627M
2020: ¥2.48B¥2.48B2021: ¥2.02B¥2.02B2022: ¥1.61B¥1.61B2023: ¥1.25B¥1.25B2024: ¥1.02B¥1.02B2025: ¥627M¥627M202122232425

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—
2020: 92d92d2021: 94d94d202122232425
Payable days76d
2020: 78d78d2021: 80d80d2022: 80d80d2023: 79d79d2024: 82d82d2025: 76d76d202122232425

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 Sep 2021FY ending Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Revenue161,756170,634185,660198,995214,954
Cost of revenue97,123102,385111,479118,097127,855
Gross profit64,63268,24874,18180,89787,099
SG&A50,91753,36457,84462,85267,496
Operating income13,71414,88416,33718,04419,602
Pretax income13,43614,27115,71517,57218,056
Income tax4,3214,9315,2055,8665,883
Net income attributable to owners8,8299,16710,28611,59912,109
Operating margin8.5%8.7%8.8%9.1%9.1%

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 54%
1%
1%
Other assets 23%

Funding

Trade payables 9%
Other liabilities 44%
Equity 47%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Sep 2021FY ending Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Cash and equivalents¥47.4B¥47.5B¥42.8B¥49.6B¥62B
Total assets¥248.9B¥261.7B¥272.6B¥290.7B¥297.3B
Net assets¥110.8B¥116.8B¥124.4B¥134.3B¥140.3B
Share capital¥8.1B¥8.1B¥8.1B¥8.1B¥8.1B
Trade receivables¥41.6B————
Property, plant and equipment¥135.4B¥143.8B¥155.6B¥165B¥162.6B
Intangible assets excluding goodwill¥4.01B¥3.55B¥3.07B¥2.66B¥2.17B
Goodwill¥2.02B¥1.61B¥1.25B¥1.02B¥627M
Investment securities¥2.02B¥2.15B¥2.55B¥2.75B¥2.29B
Current assets¥101.7B¥105.9B¥105.5B¥112.7B¥123B
Current liabilities¥73.2B¥76.3B¥78.9B¥86.6B¥87.7B
Trade payables¥21.3B¥22.5B¥24B¥26.5B¥26.8B
Short-term borrowings¥4.47B¥5.53B¥5.4B¥5.53B¥5.29B
Long-term borrowings¥32.2B¥36.8B¥37.9B¥38.7B¥38.6B
Bonds¥975M¥825M¥675M¥525M—
Interest-bearing debt¥37.6Bderived¥43.2Bderived¥44Bderived¥44.8Bderived—
Total liabilities¥138.1B¥144.9B¥148.2B¥156.4B¥157B
Non-controlling interests¥3.57B¥2.2B¥2.16B¥2.15B¥1.75B
Equity attributable to owners of parent¥107B¥112.9B¥119.7B¥127.9B¥135.5B
Retained earnings¥91.7B¥98.5B¥106B¥114.5B¥122.6B
Treasury stock-¥1.91B-¥1.9B-¥1.88B-¥1.88B-¥1.88B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第67期(2024/10/01－2025/09/30)

    ID S100XB092025-12-18Open

  • EDINET (FSA Japan)

    有価証券報告書－第66期(2023/10/01－2024/09/30)

    ID S100UYS52024-12-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第65期(2022/10/01－2023/09/30)

    ID S100SHP92023-12-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第64期(令和3年10月1日－令和4年9月30日)

    ID S100PU9I2022-12-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第63期(令和2年10月1日－令和3年9月30日)

    ID S100N2XQ2021-12-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第62期(令和1年10月1日－令和2年9月30日)

    ID S100KDTZ2020-12-21Open

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