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Oenon HoldingsOenon Holdings, Inc.2533東証プライム食料品FY ending Dec 2025, consolidated, J-GAAP

Oenon Holdings revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +4.2% from the prior year, operating profit +20.0%.

Five-year trend

Revenue¥87.6B
FY ending Dec 2021: ¥78.6B¥78.6BFY ending Dec 2022: ¥81.1B¥81.1BFY ending Dec 2023: ¥84.9B¥84.9BFY ending Dec 2024: ¥84.1B¥84.1BFY ending Dec 2025: ¥87.6B¥87.6BFY21FY22FY23FY24FY25
Operating income¥4.14B
FY ending Dec 2021: ¥1.21B¥1.21BFY ending Dec 2022: -¥707M-¥707MFY ending Dec 2023: ¥3.58B¥3.58BFY ending Dec 2024: ¥3.45B¥3.45BFY ending Dec 2025: ¥4.14B¥4.14BFY21FY22FY23FY24FY25
Operating margin4.7%
FY ending Dec 2021: 1.5%1.5%FY ending Dec 2022: -0.9%-0.9%FY ending Dec 2023: 4.2%4.2%FY ending Dec 2024: 4.1%4.1%FY ending Dec 2025: 4.7%4.7%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin3.5%
Asset turnover1.52×
ROA5.4%
ROA5.4%
Financial leverage2.45×
ROE13.2%

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

Net margin3.5%
2021: 0.4%0.4%2023: 4.0%4.0%2024: 3.2%3.2%2025: 3.5%3.5%2122232425
Asset turnover1.52×
2021: 1.50×1.50×2023: 1.53×1.53×2024: 1.51×1.51×2025: 1.52×1.52×2122232425
ROA5.4%
2021: 0.6%0.6%2022: -2.3%-2.3%2023: 6.1%6.1%2024: 4.9%4.9%2025: 5.4%5.4%2122232425
Financial leverage2.45×
2021: 2.68×2.68×2023: 2.91×2.91×2024: 2.59×2.59×2025: 2.45×2.45×2122232425
ROE13.2%
2021: 1.5%1.5%2023: 17.8%17.8%2024: 12.7%12.7%2025: 13.2%13.2%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20210.4%1.50×0.6%2.68×1.5%
2022——×-2.3%—×—
20234.0%1.53×6.1%2.91×17.8%
20243.2%1.51×4.9%2.59×12.7%
20253.5%1.52×5.4%2.45×13.2%

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 ÷ revenue27.4%
2020: 30.0%30.0%2021: 30.2%30.2%2022: 31.6%31.6%2023: 29.0%29.0%2024: 29.1%29.1%2025: 27.4%27.4%202122232425
PPE ÷ total assets40.6%
2020: 45.0%45.0%2021: 45.5%45.5%2022: 46.2%46.2%2023: 44.5%44.5%2024: 43.9%43.9%2025: 40.6%40.6%202122232425
Goodwill ÷ parent equity—
2020: 0.0%0.0%2021: 0.0%0.0%2022: 0.0%0.0%2023: 0.0%0.0%2024: 0.0%0.0%202122232425
Goodwill balance—
2020: ¥9M¥9M2021: ¥7M¥7M2022: ¥5M¥5M2023: ¥3M¥3M2024: ¥1M¥1M202122232425

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¥591M
2020: ¥515M¥515M2021: ¥538M¥538M2022: ¥416M¥416M2023: ¥453M¥453M2024: ¥523M¥523M2025: ¥591M¥591M202122232425
R&D / revenue0.7%
2020: 0.7%0.7%2021: 0.7%0.7%2022: 0.5%0.5%2023: 0.5%0.5%2024: 0.6%0.6%2025: 0.7%0.7%202122232425
Receivable days82d
2020: 79d79d2021: 76d76d2022: 76d76d2023: 72d72d2024: 73d73d2025: 82d82d202122232425
Payable days26d
2020: 27d27d2021: 26d26d2022: 26d26d2023: 26d26d2024: 26d26d2025: 26d26d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue78,61881,12084,94784,10487,630
Cost of revenue65,96771,44970,96470,13972,168
Gross profit12,6519,67013,98313,96415,462
SG&A11,44410,37810,39710,51611,325
Operating income1,207-7073,5853,4484,136
Pretax income464-7773,6043,5924,134
Income tax2036642068631,067
Net income attributable to owners299-1,2573,3932,7293,102
Operating margin1.5%-0.9%4.2%4.1%4.7%

Balance sheet (reported items)

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

Assets

1%
Receivables 33%
Property, plant and equipment 41%
1%
7%
Other assets 17%

Funding

Trade payables 9%
Other liabilities 46%
Equity 45%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥986M¥894M¥824M¥882M¥879M
Total assets¥52.3B¥55.5B¥55.4B¥55.7B¥59.2B
Net assets¥22B¥19.6B¥22.2B¥24.5B¥27B
Share capital¥6.95B¥6.95B¥6.95B¥6.95B¥6.95B
Trade receivables¥16.3B¥17B¥16.8B¥16.7B¥19.7B
Property, plant and equipment¥23.8B¥25.6B¥24.7B¥24.5B¥24B
Intangible assets excluding goodwill¥298M¥554M¥508M¥429M¥314M
Goodwill¥7M¥5M¥3M¥1M—
Investment securities¥1.4B¥1.54B¥3.1B¥3.65B¥4.36B
Current assets¥25.6B¥27B¥26.1B¥26.2B¥29.5B
Current liabilities¥25.4B¥28.5B¥26.3B¥24.9B¥26.6B
Trade payables¥4.7B¥5.04B¥4.98B¥4.93B¥5.14B
Short-term borrowings¥3.7B¥6.95B¥3.2B¥1.85B¥1.95B
Long-term borrowings—¥2.4B¥1.8B¥1.2B¥600M
Total liabilities¥30.2B¥35.9B¥33.2B¥31.3B¥32.3B
Non-controlling interests¥2.03B¥1.84B¥846M¥840M¥793M
Equity attributable to owners of parent¥19.5B¥17.5B¥20.6B¥22.4B¥24.5B
Retained earnings¥8.56B¥6.87B¥9.97B¥12.2B¥14.8B
Treasury stock-¥1.58B-¥1.93B-¥1.95B-¥2.41B-¥2.84B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第119期(2025/01/01－2025/12/31)

    ID S100XRFQ2026-03-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第118期(2024/01/01－2024/12/31)

    ID S100VG4C2025-03-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第117期(2023/01/01－2023/12/31)

    ID S100T22Q2024-03-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第116期(2022/01/01－2022/12/31)

    ID S100QE1B2023-03-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第115期(令和3年1月1日－令和3年12月31日)

    ID S100NPBX2022-03-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第114期(令和2年1月1日－令和2年12月31日)

    ID S100KZT42021-03-23Open

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