Nittoc ConstructionNITTOC CONSTRUCTION CO.,LTD.1929東証プライム建設業FY ending Mar 2026, consolidated, J-GAAP

Nittoc Construction revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +24.7% from the prior year, operating profit +58.4%.

Five-year trend

Revenue¥83.8B
FY ending Mar 2022: ¥66.1B¥66.1BFY ending Mar 2023: ¥72.9B¥72.9BFY ending Mar 2024: ¥71.9B¥71.9BFY ending Mar 2025: ¥67.2B¥67.2BFY ending Mar 2026: ¥83.8B¥83.8BFY22FY23FY24FY25FY26
Operating income¥5.83B
FY ending Mar 2022: ¥4.52B¥4.52BFY ending Mar 2023: ¥5.45B¥5.45BFY ending Mar 2024: ¥4.36B¥4.36BFY ending Mar 2025: ¥3.68B¥3.68BFY ending Mar 2026: ¥5.83B¥5.83BFY22FY23FY24FY25FY26
Operating margin7.0%
FY ending Mar 2022: 6.8%6.8%FY ending Mar 2023: 7.5%7.5%FY ending Mar 2024: 6.1%6.1%FY ending Mar 2025: 5.5%5.5%FY ending Mar 2026: 7.0%7.0%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.0%
Asset turnover1.40×
ROA7.0%
ROA7.0%
Financial leverage1.73×
ROE12.1%

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

Net margin5.0%
2022: 5.0%5.0%2023: 4.8%4.8%2024: 4.3%4.3%2025: 3.6%3.6%2026: 5.0%5.0%2223242526
Asset turnover1.40×
2022: 1.28×1.28×2023: 1.40×1.40×2024: 1.34×1.34×2025: 1.21×1.21×2026: 1.40×1.40×2223242526
ROA7.0%
2022: 6.4%6.4%2023: 6.7%6.7%2024: 5.7%5.7%2025: 4.3%4.3%2026: 7.0%7.0%2223242526
Financial leverage1.73×
2022: 1.70×1.70×2023: 1.68×1.68×2024: 1.66×1.66×2025: 1.68×1.68×2026: 1.73×1.73×2223242526
ROE12.1%
2022: 11.0%11.0%2023: 11.4%11.4%2024: 9.5%9.5%2025: 7.3%7.3%2026: 12.1%12.1%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20225.0%1.28×6.4%1.70×11.0%
20234.8%1.40×6.7%1.68×11.4%
20244.3%1.34×5.7%1.66×9.5%
20253.6%1.21×4.3%1.68×7.3%
20265.0%1.40×7.0%1.73×12.1%

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 ÷ revenue12.4%
2021: 8.2%8.2%2022: 8.8%8.8%2023: 8.8%8.8%2024: 9.2%9.2%2025: 14.7%14.7%2026: 12.4%12.4%212223242526
PPE ÷ total assets16.7%
2021: 10.8%10.8%2022: 11.2%11.2%2023: 12.2%12.2%2024: 12.1%12.1%2025: 17.3%17.3%2026: 16.7%16.7%212223242526

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¥628M
2021: ¥336M¥336M2022: ¥391M¥391M2023: ¥387M¥387M2024: ¥527M¥527M2025: ¥454M¥454M2026: ¥628M¥628M212223242526
R&D / revenue0.7%
2021: 0.5%0.5%2022: 0.6%0.6%2023: 0.5%0.5%2024: 0.7%0.7%2025: 0.7%0.7%2026: 0.7%0.7%212223242526

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
Revenue66,07672,91871,88067,21683,797
Cost of revenue53,94159,23359,17254,65367,945
Gross profit12,13413,68512,70812,56215,852
SG&A7,6118,2338,3518,88310,024
Operating income4,5235,4514,3563,6795,827
Pretax income4,9865,4354,5033,7145,965
Income tax1,6681,8261,5501,2751,737
Net income attributable to owners3,3293,5263,0662,4084,165
Operating margin6.8%7.5%6.1%5.5%7.0%

Balance sheet (reported items)

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

Assets

Cash 28%
Property, plant and equipment 17%
1%
Investment securities 9%
Other assets 45%

Funding

Other liabilities 39%
Equity 61%

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¥20.7B¥19.5B¥19.6B¥18.2B¥17.7B
Total assets¥51.7B¥52.8B¥54.4B¥56.9B¥62.4B
Net assets¥30.6B¥32.1B¥34B¥34.6B¥38B
Share capital¥6.05B¥6.05B¥6.06B¥6.08B¥6.09B
Property, plant and equipment¥5.79B¥6.43B¥6.6B¥9.88B¥10.4B
Intangible assets excluding goodwill¥607M¥578M¥557M¥476M¥370M
Investment securities¥417M¥1.04B¥3.12B¥4.29B¥5.98B
Current assets¥42.5B¥42.4B¥42.2B¥40.3B¥44B
Current liabilities¥16.8B¥16.6B¥16.4B¥17.5B¥19.8B
Long-term borrowings———¥519M¥351M
Total liabilities¥21.1B¥20.7B¥20.4B¥22.4B¥24.4B
Non-controlling interests¥188M¥278M¥179M¥196M¥266M
Equity attributable to owners of parent¥30.4B¥31.7B¥32.9B¥33.3B¥35.5B
Retained earnings¥22.6B¥23.9B¥25B¥25.5B¥27.6B
Treasury stock¥0-¥2M-¥3M-¥4M-¥5M

Sources

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

    有価証券報告書-第79期(2025/04/01-2026/03/31)

    ID S100YIDU2026-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第78期(2024/04/01-2025/03/31)

    ID S100W1KJ2025-06-20Open
  • EDINET (FSA Japan)

    有価証券報告書-第77期(2023/04/01-2024/03/31)

    ID S100TRAE2024-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第76期(2022/04/01-2023/03/31)

    ID S100R4ZD2023-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第75期(令和3年4月1日-令和4年3月31日)

    ID S100OHZD2022-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第74期(令和2年4月1日-令和3年3月31日)

    ID S100LRHG2021-06-25Open

Extracted from XBRL: 51 / Derived from other figures: 1

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