Vizora日本語

ON the PageON THE PAGE, Inc.9160東証スタンダードサービス業FY ending Dec 2025, consolidated, IFRS

ON the Page revenue and profit

Out of every ¥100 of sales, about ¥10 is left as operating profit. Revenue changed +14.2% from the prior year, operating profit +68.1%.

Five-year trend

Revenue¥22B
FY ending Dec 2021: ¥11.2B¥11.2BFY ending Dec 2022: ¥17.2B¥17.2BFY ending Dec 2023: ¥18.3B¥18.3BFY ending Dec 2024: ¥19.3B¥19.3BFY ending Dec 2025: ¥22B¥22BFY21FY22FY23FY24FY25
Operating income¥2.25B
FY ending Dec 2022: ¥2.78B¥2.78BFY ending Dec 2023: ¥1.54B¥1.54BFY ending Dec 2024: ¥1.34B¥1.34BFY ending Dec 2025: ¥2.25B¥2.25BFY21FY22FY23FY24FY25
Operating margin10.2%
FY ending Dec 2022: 16.1%16.1%FY ending Dec 2023: 8.4%8.4%FY ending Dec 2024: 6.9%6.9%FY ending Dec 2025: 10.2%10.2%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin5.7%
Asset turnover0.62×
ROA3.5%
ROA3.5%
Financial leverage3.77×
ROE13.3%

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

Net margin5.7%
2021: 3.3%3.3%2022: 9.6%9.6%2023: 5.2%5.2%2024: 3.4%3.4%2025: 5.7%5.7%2122232425
Asset turnover0.62×
2021: 0.34×0.34×2022: 0.53×0.53×2023: 0.57×0.57×2024: 0.58×0.58×2025: 0.62×0.62×2122232425
ROA3.5%
2021: 1.1%1.1%2022: 5.1%5.1%2023: 2.9%2.9%2024: 2.0%2.0%2025: 3.5%3.5%2122232425
Financial leverage3.77×
2021: 5.84×5.84×2022: 4.47×4.47×2023: 4.17×4.17×2024: 3.94×3.94×2025: 3.77×3.77×2122232425
ROE13.3%
2021: 6.7%6.7%2022: 22.9%22.9%2023: 12.2%12.2%2024: 7.8%7.8%2025: 13.3%13.3%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20213.3%0.34×1.1%5.84×6.7%
20229.6%0.53×5.1%4.47×22.9%
20235.2%0.57×2.9%4.17×12.2%
20243.4%0.58×2.0%3.94×7.8%
20255.7%0.62×3.5%3.77×13.3%

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 ÷ revenue79.5%
2022: 85.5%85.5%2023: 86.6%86.6%2024: 83.2%83.2%2025: 79.5%79.5%202122232425
PPE ÷ total assets47.6%
2022: 46.0%46.0%2023: 49.0%49.0%2024: 46.2%46.2%2025: 47.6%47.6%202122232425
Goodwill ÷ parent equity110.8%
2022: 154.9%154.9%2023: 137.0%137.0%2024: 126.6%126.6%2025: 110.8%110.8%202122232425
Goodwill balance¥11.2B
2022: ¥11.2B¥11.2B2023: ¥11.2B¥11.2B2024: ¥11.2B¥11.2B2025: ¥11.2B¥11.2B202122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue11,19217,22218,26519,30022,040
Cost of revenue—7,0808,0818,4409,804
Gross profit—10,14210,18510,86012,236
SG&A—7,6648,6219,54710,005
Operating income—2,7761,5401,3382,248
Pretax income5392,4851,2319761,850
Income tax—828289312593
Net income attributable to owners3741,6579426641,257
Operating margin—16.1%8.4%6.9%10.2%

Balance sheet (reported items)

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

Assets

Cash 9%
Property, plant and equipment 48%
Intangibles and goodwill 30%
Other assets 13%

Funding

Other liabilities 73%
Equity 27%

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¥2.25B¥2.8B¥1.72B¥3.55B¥3.42B
Total assets¥32.6B¥32B¥32.3B¥34.7B¥36.8B
Net assets¥5.59B¥7.23B¥8.18B¥8.85B¥10.1B
Share capital—¥100M¥100M¥100M¥30M
Property, plant and equipment—¥14.7B¥15.8B¥16.1B¥17.5B
Goodwill—¥11.2B¥11.2B¥11.2B¥11.2B
Current assets—¥3.52B¥2.52B¥4.38B¥4.43B
Total liabilities—¥24.7B¥24.1B¥25.9B¥26.7B
Equity attributable to owners of parent—¥7.23B¥8.18B¥8.85B¥10.1B
Retained earnings—¥923.7M¥1.87B¥2.53B¥8.54B

Sources

Show source documents (3)

  • EDINET (FSA Japan)

    有価証券報告書－第10期(2025/01/01－2025/12/31)

    ID S100XSAX2026-03-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第9期(2024/01/01－2024/12/31)

    ID S100VHZD2025-03-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第8期(2023/01/01－2023/12/31)

    ID S100T66W2024-03-28Open

Extracted from XBRL: 36 / Derived from other figures: 1

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