Nitto KogyoNITTO KOGYO CORPORATION6651東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

Nitto Kogyo revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +6.0% from the prior year, operating profit +15.0%.

Five-year trend

Revenue¥195.8B
FY ending Mar 2022: ¥132.7B¥132.7BFY ending Mar 2023: ¥146.7B¥146.7BFY ending Mar 2024: ¥160.7B¥160.7BFY ending Mar 2025: ¥184.7B¥184.7BFY ending Mar 2026: ¥195.8B¥195.8BFY22FY23FY24FY25FY26
Operating income¥15.4B
FY ending Mar 2022: ¥8.64B¥8.64BFY ending Mar 2023: ¥8.17B¥8.17BFY ending Mar 2024: ¥12B¥12BFY ending Mar 2025: ¥13.4B¥13.4BFY ending Mar 2026: ¥15.4B¥15.4BFY22FY23FY24FY25FY26
Operating margin7.9%
FY ending Mar 2022: 6.5%6.5%FY ending Mar 2023: 5.6%5.6%FY ending Mar 2024: 7.4%7.4%FY ending Mar 2025: 7.3%7.3%FY ending Mar 2026: 7.9%7.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.9%
Asset turnover1.06×
ROA6.2%
ROA6.2%
Financial leverage1.67×
ROE10.4%

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

Net margin5.9%
2022: 5.0%5.0%2023: 3.7%3.7%2024: 5.4%5.4%2025: 6.6%6.6%2026: 5.9%5.9%2223242526
Asset turnover1.06×
2022: 1.07×1.07×2023: 1.13×1.13×2024: 1.08×1.08×2025: 1.07×1.07×2026: 1.06×1.06×2223242526
ROA6.2%
2022: 5.3%5.3%2023: 4.2%4.2%2024: 5.9%5.9%2025: 7.0%7.0%2026: 6.2%6.2%2223242526
Financial leverage1.67×
2022: 1.28×1.28×2023: 1.33×1.33×2024: 1.48×1.48×2025: 1.65×1.65×2026: 1.67×1.67×2223242526
ROE10.4%
2022: 6.8%6.8%2023: 5.6%5.6%2024: 8.7%8.7%2025: 11.5%11.5%2026: 10.4%10.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20225.0%1.07×5.3%1.28×6.8%
20233.7%1.13×4.2%1.33×5.6%
20245.4%1.08×5.9%1.48×8.7%
20256.6%1.07×7.0%1.65×11.5%
20265.9%1.06×6.2%1.67×10.4%

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 ÷ revenue30.9%
2021: 25.2%25.2%2022: 26.8%26.8%2023: 29.6%29.6%2024: 34.9%34.9%2025: 33.1%33.1%2026: 30.9%30.9%212223242526
PPE ÷ total assets32.6%
2021: 27.2%27.2%2022: 28.7%28.7%2023: 32.0%32.0%2024: 34.7%34.7%2025: 33.2%33.2%2026: 32.6%32.6%212223242526
Goodwill ÷ parent equity0.2%
2021: 1.3%1.3%2022: 0.5%0.5%2023: 0.4%0.4%2024: 0.6%0.6%2025: 0.4%0.4%2026: 0.2%0.2%212223242526
Goodwill balance¥193M
2021: ¥1.25B¥1.25B2022: ¥516M¥516M2023: ¥399M¥399M2024: ¥583M¥583M2025: ¥431M¥431M2026: ¥193M¥193M212223242526

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¥3.69B
2021: ¥2.64B¥2.64B2022: ¥2.78B¥2.78B2023: ¥2.97B¥2.97B2024: ¥3.06B¥3.06B2025: ¥3.19B¥3.19B2026: ¥3.69B¥3.69B212223242526
R&D / revenue1.9%
2021: 1.9%1.9%2022: 2.1%2.1%2023: 2.0%2.0%2024: 1.9%1.9%2025: 1.7%1.7%2026: 1.9%1.9%212223242526
Receivable days—
2021: 78d78d212223242526
Payable days—
2021: 46d46d2022: 51d51d2023: 50d50d2024: 37d37d212223242526

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
Revenue132,735146,698160,709184,683195,783
Cost of revenue96,518109,401117,633135,264142,212
Gross profit36,21737,29743,07549,41953,571
SG&A27,57929,12431,10835,98638,125
Operating income8,6378,17211,96713,43215,446
Pretax income9,4188,19312,21715,74315,532
Income tax2,8542,7553,5163,7274,023
Net income attributable to owners6,6075,4798,71512,09711,493
Operating margin6.5%5.6%7.4%7.3%7.9%

Balance sheet (reported items)

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

Assets

Cash 18%
Property, plant and equipment 33%
2%
4%
Other assets 43%

Funding

Other liabilities 32%
Equity 68%
0%

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¥28.3B¥20.1B¥25.4B¥33.1B¥34.4B
Total assets¥124.3B¥135.6B¥161.7B¥183.9B¥185.3B
Net assets¥99.2B¥101.4B¥108.7B¥116.5B¥125.2B
Share capital¥6.58B¥6.58B¥6.58B¥6.58B¥6.58B
Property, plant and equipment¥35.6B¥43.4B¥56.1B¥61B¥60.4B
Intangible assets excluding goodwill¥3.71B¥3.66B¥3.56B¥3.23B¥2.94B
Goodwill¥516M¥399M¥583M¥431M¥193M
Investment securities¥3.11B¥4.37B¥5.56B¥5.97B¥7.92B
Current assets¥78.4B¥80.1B¥90.8B¥106.8B¥105.4B
Current liabilities¥22.4B¥24.7B¥33.8B¥39.9B¥35.2B
Trade payables¥13.4B¥14.9B¥11.8B——
Short-term borrowings¥84M¥11M¥8M¥52M—
Long-term borrowings—¥6.06B¥16.2B¥24B¥20B
Total liabilities¥25.1B¥34.2B¥53B¥67.4B¥60.1B
Non-controlling interests¥157M¥204M¥208M¥1.37B¥1.52B
Equity attributable to owners of parent¥97.1B¥98.3B¥102.1B¥107.6B¥113B
Retained earnings¥86.7B¥87.9B¥91.7B¥95.4B¥100.9B
Treasury stock-¥3.2B-¥3.2B-¥3.21B-¥3.2B-¥4.05B

Sources

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

    有価証券報告書-第78期(2025/04/01-2026/03/31)

    ID S100YIVN2026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第77期(2024/04/01-2025/03/31)

    ID S100W6YI2025-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第76期(2023/04/01-2024/03/31)

    ID S100TWX62024-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第75期(2022/04/01-2023/03/31)

    ID S100RA212023-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第74期(令和3年4月1日-令和4年3月31日)

    ID S100OIZ62022-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第73期(令和2年4月1日-令和3年3月31日)

    ID S100LV7T2021-06-30Open

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

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