NozawaNOZAWA CORPORATION5237東証スタンダードガラス・土石製品FY ending Mar 2026, consolidated, J-GAAP

Nozawa revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +1.6% from the prior year, operating profit +18.7%.

Five-year trend

Revenue¥22.3B
FY ending Mar 2022: ¥20.5B¥20.5BFY ending Mar 2023: ¥21B¥21BFY ending Mar 2024: ¥23.1B¥23.1BFY ending Mar 2025: ¥22B¥22BFY ending Mar 2026: ¥22.3B¥22.3BFY22FY23FY24FY25FY26
Operating income¥1.99B
FY ending Mar 2022: ¥1.85B¥1.85BFY ending Mar 2023: ¥1.01B¥1.01BFY ending Mar 2024: ¥1.78B¥1.78BFY ending Mar 2025: ¥1.68B¥1.68BFY ending Mar 2026: ¥1.99B¥1.99BFY22FY23FY24FY25FY26
Operating margin8.9%
FY ending Mar 2022: 9.0%9.0%FY ending Mar 2023: 4.8%4.8%FY ending Mar 2024: 7.7%7.7%FY ending Mar 2025: 7.7%7.7%FY ending Mar 2026: 8.9%8.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin2.7%
Asset turnover0.74×
ROA2.0%
ROA2.0%
Financial leverage1.89×
ROE3.8%

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

Net margin2.7%
2022: 8.3%8.3%2023: 2.3%2.3%2024: 3.8%3.8%2025: 5.3%5.3%2026: 2.7%2.7%2223242526
Asset turnover0.74×
2022: 0.74×0.74×2023: 0.75×0.75×2024: 0.80×0.80×2025: 0.74×0.74×2026: 0.74×0.74×2223242526
ROA2.0%
2022: 6.2%6.2%2023: 1.7%1.7%2024: 3.0%3.0%2025: 3.9%3.9%2026: 2.0%2.0%2223242526
Financial leverage1.89×
2022: 1.92×1.92×2023: 1.94×1.94×2024: 1.95×1.95×2025: 1.92×1.92×2026: 1.89×1.89×2223242526
ROE3.8%
2022: 11.8%11.8%2023: 3.4%3.4%2024: 5.9%5.9%2025: 7.4%7.4%2026: 3.8%3.8%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20228.3%0.74×6.2%1.92×11.8%
20232.3%0.75×1.7%1.94×3.4%
20243.8%0.80×3.0%1.95×5.9%
20255.3%0.74×3.9%1.92×7.4%
20262.7%0.74×2.0%1.89×3.8%

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 ÷ revenue45.6%
2021: 47.5%47.5%2022: 51.0%51.0%2023: 49.1%49.1%2024: 45.9%45.9%2025: 48.0%48.0%2026: 45.6%45.6%212223242526
PPE ÷ total assets33.4%
2021: 39.0%39.0%2022: 37.7%37.7%2023: 36.3%36.3%2024: 35.9%35.9%2025: 34.9%34.9%2026: 33.4%33.4%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¥323M
2021: ¥283M¥283M2022: ¥272M¥272M2023: ¥287M¥287M2024: ¥261M¥261M2025: ¥315M¥315M2026: ¥323M¥323M212223242526
R&D / revenue1.4%
2021: 1.3%1.3%2022: 1.3%1.3%2023: 1.4%1.4%2024: 1.1%1.1%2025: 1.4%1.4%2026: 1.4%1.4%212223242526
Receivable days—
2021: 81d81d212223242526
Payable days61d
2021: 80d80d2022: 85d85d2023: 87d87d2024: 81d81d2025: 73d73d2026: 61d61d212223242526

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
Revenue20,54720,97623,07521,95422,313
Cost of revenue13,77615,24016,50115,83716,002
Gross profit6,7705,7356,5746,1176,311
SG&A4,9224,7284,7944,4374,317
Operating income1,8491,0071,7801,6801,994
Pretax income2,2107521,4091,706715
Income tax485265534549110
Net income attributable to owners1,7144878751,157605
Operating margin9.0%4.8%7.7%7.7%8.9%

Balance sheet (reported items)

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

Assets

Cash 19%
Property, plant and equipment 34%
0%
Investment securities 16%
Other assets 31%

Funding

Trade payables 9%
Other liabilities 19%
Equity 72%
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¥7.02B¥6.99B¥7.39B¥6.75B¥5.72B
Total assets¥27.8B¥28.4B¥29.5B¥30.2B¥30.5B
Net assets¥18.3B¥18.5B¥19.8B¥20.7B¥21.9B
Share capital¥2.45B¥2.45B¥2.45B¥2.45B¥2.45B
Property, plant and equipment¥10.5B¥10.3B¥10.6B¥10.5B¥10.2B
Intangible assets excluding goodwill¥84.4M¥141.3M¥131.6M¥109.9M¥69.1M
Investment securities¥2.55B¥2.56B¥3.64B¥3.61B¥4.92B
Current assets¥13.6B¥14.4B¥14.3B¥14.9B¥14.4B
Current liabilities¥5.29B¥5.66B¥5.22B¥4.9B¥4.21B
Trade payables¥3.21B¥3.61B¥3.67B¥3.18B¥2.68B
Total liabilities¥9.46B¥9.91B¥9.67B¥9.57B¥8.52B
Equity attributable to owners of parent¥14.5B¥14.5B¥15.1B¥16B¥16.2B
Retained earnings¥10.8B¥10.9B¥11.3B¥12.1B¥12B
Treasury stock-¥260.8M-¥261.1M-¥208.7M-¥136.3M-¥67.7M

Sources

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

    有価証券報告書-第166期(2025/04/01-2026/03/31)

    ID S100YK4Z2026-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第165期(2024/04/01-2025/03/31)

    ID S100W6GR2025-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第164期(2023/04/01-2024/03/31)

    ID S100TWQO2024-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第163期(2022/04/01-2023/03/31)

    ID S100R8QX2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第162期(令和3年4月1日-令和4年3月31日)

    ID S100OK672022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第161期(令和2年4月1日-令和3年3月31日)

    ID S100LTOX2021-06-29Open

Extracted from XBRL: 48 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.