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NodaNODA CORPORATION7879東証スタンダードその他製品FY ending Nov 2025, consolidated, J-GAAP

Noda revenue and profit

Operating profit was close to zero, a slight loss per ¥100 of sales. Revenue changed -3.5% from the prior year, operating profit -110.7%.

Five-year trend

Revenue¥64.7B
FY ending Nov 2021: ¥64.6B¥64.6BFY ending Nov 2022: ¥81B¥81BFY ending Nov 2023: ¥73.2B¥73.2BFY ending Nov 2024: ¥67B¥67BFY ending Nov 2025: ¥64.7B¥64.7BFY21FY22FY23FY24FY25
Operating income-¥47.5M
FY ending Nov 2021: ¥3.83B¥3.83BFY ending Nov 2022: ¥9.8B¥9.8BFY ending Nov 2023: ¥4.7B¥4.7BFY ending Nov 2024: ¥444.7M¥444.7MFY ending Nov 2025: -¥47.5M-¥47.5MFY21FY22FY23FY24FY25
Operating margin-0.1%
FY ending Nov 2021: 5.9%5.9%FY ending Nov 2022: 12.1%12.1%FY ending Nov 2023: 6.4%6.4%FY ending Nov 2024: 0.7%0.7%FY ending Nov 2025: -0.1%-0.1%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin—
2021: 3.9%3.9%2022: 7.5%7.5%2023: 3.9%3.9%2122232425
Asset turnover—
2021: 1.01×1.01×2022: 1.15×1.15×2023: 0.96×0.96×2122232425
ROA-1.1%
2021: 4.0%4.0%2022: 8.6%8.6%2023: 3.7%3.7%2024: -6.1%-6.1%2025: -1.1%-1.1%2122232425
Financial leverage—
2021: 2.11×2.11×2022: 2.15×2.15×2023: 2.12×2.12×2122232425
ROE—
2021: 8.4%8.4%2022: 18.5%18.5%2023: 7.8%7.8%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20213.9%1.01×4.0%2.11×8.4%
20227.5%1.15×8.6%2.15×18.5%
20233.9%0.96×3.7%2.12×7.8%
2024——×-6.1%—×—
2025——×-1.1%—×—

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 ÷ revenue27.5%
2020: 22.1%22.1%2021: 21.2%21.2%2022: 18.2%18.2%2023: 22.0%22.0%2024: 24.7%24.7%2025: 27.5%27.5%202122232425
PPE ÷ total assets24.4%
2020: 23.5%23.5%2021: 21.4%21.4%2022: 19.3%19.3%2023: 21.1%21.1%2024: 22.3%22.3%2025: 24.4%24.4%202122232425
Goodwill ÷ parent equity0.2%
2025: 0.2%0.2%202122232425
Goodwill balance¥46.7M
2025: ¥46.7M¥46.7M202122232425

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¥190.9M
2020: ¥193.7M¥193.7M2021: ¥207.8M¥207.8M2022: ¥236.4M¥236.4M2023: ¥194.3M¥194.3M2024: ¥192.7M¥192.7M2025: ¥190.9M¥190.9M202122232425
R&D / revenue0.3%
2020: 0.3%0.3%2021: 0.3%0.3%2022: 0.3%0.3%2023: 0.3%0.3%2024: 0.3%0.3%2025: 0.3%0.3%202122232425
Receivable days—
2020: 63d63d2021: 67d67d202122232425
Payable days66d
2020: 64d64d2021: 79d79d2022: 90d90d2023: 75d75d2024: 80d80d2025: 66d66d202122232425

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 Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Revenue64,58781,01273,22867,03964,687
Cost of revenue48,51957,76555,20053,53651,611
Gross profit16,06823,24718,02813,50313,076
SG&A12,23813,44913,32613,05813,123
Operating income3,8309,7984,702445-48
Pretax income4,10010,1624,900-1,581-554
Income tax1,2242,9531,3002,730131
Net income attributable to owners2,5356,0572,834-4,612-829
Operating margin5.9%12.1%6.4%0.7%-0.1%

Balance sheet (reported items)

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

Assets

Cash 26%
Property, plant and equipment 24%
1%
Investment securities 14%
Other assets 35%

Funding

Trade payables 13%
Other liabilities 33%
Equity 54%
0%

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

ItemFY ending Nov 2021FY ending Nov 2022FY ending Nov 2023FY ending Nov 2024FY ending Nov 2025
Cash and equivalents¥20.2B¥21.5B¥22.3B¥21.7B¥18.8B
Total assets¥64B¥76.6B¥76.4B¥74.2B¥72.8B
Net assets¥33.5B¥40.7B¥44B¥38.9B¥39.6B
Share capital¥2.14B¥2.14B¥2.14B¥2.14B¥2.14B
Trade receivables¥11.8B————
Property, plant and equipment¥13.7B¥14.8B¥16.1B¥16.6B¥17.8B
Intangible assets excluding goodwill¥868.7M¥759.7M¥540.3M¥350M¥360M
Goodwill————¥46.7M
Investment securities¥6.04B¥7.25B¥8.62B¥9.3B¥10.1B
Current assets¥40.9B¥51.4B¥48.8B¥47.2B¥43.7B
Current liabilities¥22.1B¥28.4B¥24B¥25.5B¥23.2B
Trade payables¥10.5B¥14.2B¥11.3B¥11.8B¥9.31B
Short-term borrowings¥6.23B¥6.26B¥7.47B¥7.2B¥8.02B
Long-term borrowings¥1.43B¥792.8M¥1.86B¥2.5B¥3.29B
Bonds¥21.6M————
Interest-bearing debt¥7.68Bderived————
Total liabilities¥30.5B¥35.9B¥32.3B¥35.3B¥33.3B
Non-controlling interests¥3.42B¥4.63B¥5.24B¥5.41B¥5.49B
Equity attributable to owners of parent¥30.3B¥35.2B¥37.1B¥31.3B¥29.8B
Retained earnings¥27B¥32.2B¥34.1B¥28.7B¥27.3B
Treasury stock-¥423.9M-¥706.2M-¥706.2M-¥1.17B-¥1.17B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第88期(2024/12/01－2025/11/30)

    ID S100XMYW2026-02-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第87期(2023/12/01－2024/11/30)

    ID S100VAPG2025-02-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第86期(2022/12/01－2023/11/30)

    ID S100SY252024-02-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第85期(2021/12/01－2022/11/30)

    ID S100QAIL2023-02-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(令和2年12月1日－令和3年11月30日)

    ID S100NJOT2022-02-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第83期(令和1年12月1日－令和2年11月30日)

    ID S100KUIS2021-02-25Open

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

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