Nitto Fuji Flour MillingNITTO FUJI FLOUR MILLING CO.,LTD.2003東証スタンダード食料品FY ending Mar 2026, consolidated, J-GAAP

Nitto Fuji Flour Milling revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +0.6% from the prior year, operating profit -25.1%.

Five-year trend

Revenue¥72.8B
FY ending Mar 2022: ¥59.3B¥59.3BFY ending Mar 2023: ¥69.5B¥69.5BFY ending Mar 2024: ¥72.6B¥72.6BFY ending Mar 2025: ¥72.3B¥72.3BFY ending Mar 2026: ¥72.8B¥72.8BFY22FY23FY24FY25FY26
Operating income¥3.82B
FY ending Mar 2022: ¥4.4B¥4.4BFY ending Mar 2023: ¥5.3B¥5.3BFY ending Mar 2024: ¥5.24B¥5.24BFY ending Mar 2025: ¥5.1B¥5.1BFY ending Mar 2026: ¥3.82B¥3.82BFY22FY23FY24FY25FY26
Operating margin5.2%
FY ending Mar 2022: 7.4%7.4%FY ending Mar 2023: 7.6%7.6%FY ending Mar 2024: 7.2%7.2%FY ending Mar 2025: 7.0%7.0%FY ending Mar 2026: 5.2%5.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin4.6%
Asset turnover1.15×
ROA5.2%
ROA5.2%
Financial leverage1.41×
ROE7.4%

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

Net margin4.6%
2022: 6.3%6.3%2023: 5.7%5.7%2024: 5.8%5.8%2025: 4.9%4.9%2026: 4.6%4.6%2223242526
Asset turnover1.15×
2022: 1.06×1.06×2023: 1.19×1.19×2024: 1.16×1.16×2025: 1.14×1.14×2026: 1.15×1.15×2223242526
ROA5.2%
2022: 6.6%6.6%2023: 6.8%6.8%2024: 6.8%6.8%2025: 5.6%5.6%2026: 5.2%5.2%2223242526
Financial leverage1.41×
2022: 1.46×1.46×2023: 1.48×1.48×2024: 1.49×1.49×2025: 1.45×1.45×2026: 1.41×1.41×2223242526
ROE7.4%
2022: 9.7%9.7%2023: 10.0%10.0%2024: 10.1%10.1%2025: 8.1%8.1%2026: 7.4%7.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20226.3%1.06×6.6%1.46×9.7%
20235.7%1.19×6.8%1.48×10.0%
20245.8%1.16×6.8%1.49×10.1%
20254.9%1.14×5.6%1.45×8.1%
20264.6%1.15×5.2%1.41×7.4%

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 ÷ revenue23.6%
2021: 23.1%23.1%2022: 23.5%23.5%2023: 22.4%22.4%2024: 23.1%23.1%2025: 24.4%24.4%2026: 23.6%23.6%212223242526
PPE ÷ total assets27.0%
2021: 25.0%25.0%2022: 24.9%24.9%2023: 25.6%25.6%2024: 26.1%26.1%2025: 28.0%28.0%2026: 27.0%27.0%212223242526
Goodwill ÷ parent equity—
2021: 0.2%0.2%2022: 0.1%0.1%2023: 0.0%0.0%212223242526
Goodwill balance—
2021: ¥60M¥60M2022: ¥38M¥38M2023: ¥13M¥13M212223242526

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¥116M
2021: ¥438M¥438M2022: ¥501M¥501M2023: ¥550M¥550M2024: ¥595M¥595M2025: ¥377M¥377M2026: ¥116M¥116M212223242526
R&D / revenue0.2%
2021: 0.8%0.8%2022: 0.8%0.8%2023: 0.8%0.8%2024: 0.8%0.8%2025: 0.5%0.5%2026: 0.2%0.2%212223242526
Receivable days49d
2021: 50d50d2022: 54d54d2023: 53d53d2024: 53d53d2025: 51d51d2026: 49d49d212223242526
Payable days—
2021: 41d41d2022: 49d49d2023: 42d42d2024: 32d32d212223242526

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
Revenue59,34069,54072,59872,34172,777
Cost of revenue44,86253,61356,00855,12855,963
Gross profit14,47815,92616,58917,21216,814
SG&A10,07310,62611,35212,11512,997
Operating income4,4045,2995,2375,0963,816
Pretax income5,4985,6785,7775,2494,892
Income tax1,7801,7011,5291,6851,556
Net income attributable to owners3,7143,9634,2383,5503,319
Operating margin7.4%7.6%7.2%7.0%5.2%

Balance sheet (reported items)

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

Assets

Cash 18%
Receivables 15%
Property, plant and equipment 27%
1%
Investment securities 13%
Other assets 26%

Funding

Other liabilities 21%
Equity 79%

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¥9.8B¥7.88B¥9.8B¥10.4B¥11.6B
Total assets¥55.9B¥60.9B¥64.2B¥62.9B¥63.7B
Net assets¥41.8B¥45.6B¥49.7B¥49.4B¥50.1B
Share capital¥2.5B¥2.5B¥2.5B¥2.5B¥2.5B
Trade receivables¥8.74B¥10.1B¥10.6B¥10.1B¥9.77B
Property, plant and equipment¥13.9B¥15.6B¥16.8B¥17.6B¥17.2B
Intangible assets excluding goodwill¥635M¥520M¥495M¥470M¥446M
Goodwill¥38M¥13M———
Investment securities¥7.49B¥9.33B¥10.4B¥8.39B¥7.94B
Current assets¥30.3B¥32.1B¥32.4B¥32.4B¥33.1B
Current liabilities¥10.7B¥11.4B¥10.3B¥9.89B¥9.41B
Trade payables¥5.98B¥6.15B¥4.91B——
Short-term borrowings¥500M¥500M¥400M¥420M¥400M
Total liabilities¥14.1B¥15.4B¥14.6B¥13.5B¥13.6B
Non-controlling interests¥51M¥59M¥57M¥74M¥74M
Equity attributable to owners of parent¥38.2B¥40.7B¥43.3B¥44.6B¥45.1B
Retained earnings¥32.1B¥34.6B¥37.3B¥38.5B¥39B
Treasury stock-¥474M-¥474M-¥477M-¥570M-¥572M

Sources

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

    有価証券報告書-第128期(2025/04/01-2026/03/31)

    ID S100YK992026-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第127期(2024/04/01-2025/03/31)

    ID S100W5K72025-06-26Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第126期(2023/04/01-2024/03/31)

    ID S100U3PM2024-07-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第125期(2022/04/01-2023/03/31)

    ID S100R9DI2023-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第124期(令和3年4月1日-令和4年3月31日)

    ID S100OKOS2022-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第123期(令和2年4月1日-令和3年3月31日)

    ID S100LUKD2021-06-30Open

Extracted from XBRL: 52 / Derived from other figures: 1

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