NSWNSW Inc.9739東証プライム情報・通信業FY ending Mar 2026, consolidated, J-GAAP

NSW revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +4.8% from the prior year, operating profit -13.5%.

Five-year trend

Revenue¥52.4B
FY ending Mar 2022: ¥43.5B¥43.5BFY ending Mar 2023: ¥46.2B¥46.2BFY ending Mar 2024: ¥50.3B¥50.3BFY ending Mar 2025: ¥50B¥50BFY ending Mar 2026: ¥52.4B¥52.4BFY22FY23FY24FY25FY26
Operating income¥5.29B
FY ending Mar 2022: ¥4.92B¥4.92BFY ending Mar 2023: ¥5.39B¥5.39BFY ending Mar 2024: ¥5.86B¥5.86BFY ending Mar 2025: ¥6.12B¥6.12BFY ending Mar 2026: ¥5.29B¥5.29BFY22FY23FY24FY25FY26
Operating margin10.1%
FY ending Mar 2022: 11.3%11.3%FY ending Mar 2023: 11.7%11.7%FY ending Mar 2024: 11.7%11.7%FY ending Mar 2025: 12.2%12.2%FY ending Mar 2026: 10.1%10.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin7.1%
Asset turnover1.09×
ROA7.7%
ROA7.7%
Financial leverage1.32×
ROE10.1%

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

Net margin7.1%
2022: 8.0%8.0%2023: 8.9%8.9%2024: 8.5%8.5%2025: 7.3%7.3%2026: 7.1%7.1%2223242526
Asset turnover1.09×
2022: 1.18×1.18×2023: 1.19×1.19×2024: 1.19×1.19×2025: 1.10×1.10×2026: 1.09×1.09×2223242526
ROA7.7%
2022: 9.4%9.4%2023: 10.6%10.6%2024: 10.1%10.1%2025: 8.0%8.0%2026: 7.7%7.7%2223242526
Financial leverage1.32×
2022: 1.39×1.39×2023: 1.38×1.38×2024: 1.35×1.35×2025: 1.33×1.33×2026: 1.32×1.32×2223242526
ROE10.1%
2022: 13.1%13.1%2023: 14.5%14.5%2024: 13.6%13.6%2025: 10.7%10.7%2026: 10.1%10.1%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20228.0%1.18×9.4%1.39×13.1%
20238.9%1.19×10.6%1.38×14.5%
20248.5%1.19×10.1%1.35×13.6%
20257.3%1.10×8.0%1.33×10.7%
20267.1%1.09×7.7%1.32×10.1%

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 ÷ revenue11.4%
2021: 15.7%15.7%2022: 13.9%13.9%2023: 13.4%13.4%2024: 11.4%11.4%2025: 11.5%11.5%2026: 11.4%11.4%212223242526
PPE ÷ total assets12.1%
2021: 18.9%18.9%2022: 16.5%16.5%2023: 15.3%15.3%2024: 13.0%13.0%2025: 12.2%12.2%2026: 12.1%12.1%212223242526
Goodwill ÷ parent equity0.1%
2021: 0.0%0.0%2022: 0.7%0.7%2023: 0.5%0.5%2024: 0.2%0.2%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Goodwill balance¥32M
2021: ¥5M¥5M2022: ¥178M¥178M2023: ¥148M¥148M2024: ¥58M¥58M2025: ¥45M¥45M2026: ¥32M¥32M212223242526

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¥503M
2021: ¥620M¥620M2022: ¥579M¥579M2023: ¥498M¥498M2024: ¥378M¥378M2025: ¥450M¥450M2026: ¥503M¥503M212223242526
R&D / revenue1.0%
2021: 1.6%1.6%2022: 1.3%1.3%2023: 1.1%1.1%2024: 0.8%0.8%2025: 0.9%0.9%2026: 1.0%1.0%212223242526
Receivable days—
2021: 90d90d212223242526

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
Revenue43,45246,18850,29950,02852,431
Cost of revenue34,76836,78540,28739,51841,669
Gross profit8,6839,40310,01210,51010,762
SG&A3,7634,0154,1494,3945,472
Operating income4,9195,3875,8626,1165,290
Pretax income5,0805,4396,0685,4285,301
Income tax1,6101,3481,7811,7661,591
Net income attributable to owners3,4694,0904,2873,6623,709
Operating margin11.3%11.7%11.7%12.2%10.1%

Balance sheet (reported items)

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

Assets

Cash 40%
Property, plant and equipment 12%
1%
4%
Other assets 43%

Funding

Other liabilities 23%
Equity 77%
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¥15.2B¥15.4B¥10.8B¥19.7B¥19.6B
Total assets¥36.8B¥40.7B¥44.1B¥47.1B¥49.3B
Net assets¥26.5B¥29.9B¥33.2B¥35.4B¥37.9B
Share capital¥5.5B¥5.5B¥5.5B¥5.5B¥5.5B
Property, plant and equipment¥6.06B¥6.21B¥5.74B¥5.77B¥5.99B
Intangible assets excluding goodwill¥263M¥301M¥322M¥403M¥471M
Goodwill¥178M¥148M¥58M¥45M¥32M
Investment securities¥59M¥158M¥758M¥1B¥2B
Current assets¥27.9B¥30.7B¥34.2B¥36.9B¥37.9B
Current liabilities¥7.61B¥7.97B¥8.06B¥8.83B¥8.33B
Total liabilities¥10.3B¥10.8B¥11B¥11.7B¥11.4B
Equity attributable to owners of parent¥26.5B¥29.8B¥33.2B¥35.4B¥37.8B
Retained earnings¥20.9B¥24.2B¥27.6B¥29.8B¥32.3B
Treasury stock¥0¥0-¥1M-¥1M-¥1M

Sources

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

    有価証券報告書-第60期(2025/04/01-2026/03/31)

    ID S100YJ3Q2026-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第59期(2024/04/01-2025/03/31)

    ID S100W0XU2025-06-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第58期(2023/04/01-2024/03/31)

    ID S100TPWS2024-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第57期(2022/04/01-2023/03/31)

    ID S100QZYN2023-06-21Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第56期(2021/04/01-2022/03/31)

    ID S100QCNT2023-03-08Open
  • EDINET (FSA Japan)

    有価証券報告書-第55期(令和2年4月1日-令和3年3月31日)

    ID S100LM7X2021-06-23Open

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

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