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Resonac HoldingsResonac Holdings Corporation4004東証プライム化学FY ending Dec 2025, consolidated, IFRS

Resonac Holdings revenue and profit

Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed -3.2% from the prior year, operating profit -47.6%.

Five-year trend

Revenue¥1.35T
FY ending Dec 2021: ¥1.42T¥1.42TFY ending Dec 2022: ¥1.39T¥1.39TFY ending Dec 2023: ¥1.3T¥1.3TFY ending Dec 2024: ¥1.39T¥1.39TFY ending Dec 2025: ¥1.35T¥1.35TFY21FY22FY23FY24FY25
Operating income¥46.7B
FY ending Dec 2021: ¥87.2B¥87.2BFY ending Dec 2022: ¥61.7B¥61.7BFY ending Dec 2023: -¥9.41B-¥9.41BFY ending Dec 2024: ¥89B¥89BFY ending Dec 2025: ¥46.7B¥46.7BFY21FY22FY23FY24FY25
Operating margin3.5%
FY ending Dec 2021: 6.1%6.1%FY ending Dec 2022: 4.4%4.4%FY ending Dec 2023: -0.7%-0.7%FY ending Dec 2024: 6.4%6.4%FY ending Dec 2025: 3.5%3.5%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin2.2%
Asset turnover0.63×
ROA1.4%
ROA1.4%
Financial leverage3.14×
ROE4.3%

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

Net margin2.2%
2022: 2.3%2.3%2024: 5.3%5.3%2025: 2.2%2.2%2122232425
Asset turnover0.63×
2022: 0.65×0.65×2024: 0.66×0.66×2025: 0.63×0.63×2122232425
ROA1.4%
2021: -0.6%-0.6%2022: 1.5%1.5%2023: -0.3%-0.3%2024: 3.5%3.5%2025: 1.4%1.4%2122232425
Financial leverage3.14×
2022: 4.37×4.37×2024: 3.45×3.45×2025: 3.14×3.14×2122232425
ROE4.3%
2022: 6.7%6.7%2024: 12.0%12.0%2025: 4.3%4.3%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
2021——×-0.6%—×—
20222.3%0.65×1.5%4.37×6.7%
2023——×-0.3%—×—
20245.3%0.66×3.5%3.45×12.0%
20252.2%0.63×1.4%3.14×4.3%

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 ÷ revenue49.2%
2022: 48.2%48.2%2023: 51.6%51.6%2024: 48.2%48.2%2025: 49.2%49.2%22232425
PPE ÷ total assets31.5%
2022: 31.8%31.8%2023: 32.5%32.5%2024: 30.9%30.9%2025: 31.5%31.5%22232425
Goodwill ÷ parent equity39.4%
2022: 53.9%53.9%2023: 51.2%51.2%2024: 43.2%43.2%2025: 39.4%39.4%22232425
Goodwill balance¥275.5B
2022: ¥291B¥291B2023: ¥286.9B¥286.9B2024: ¥287B¥287B2025: ¥275.5B¥275.5B22232425

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¥46.5B
2022: ¥47.1B¥47.1B2023: ¥42.7B¥42.7B2024: ¥44.8B¥44.8B2025: ¥46.5B¥46.5B22232425
R&D / revenue3.4%
2022: 3.4%3.4%2023: 3.3%3.3%2024: 3.2%3.2%2025: 3.4%3.4%22232425
Receivable days—
2022: 70d70d2023: 75d75d22232425
Payable days—
2022: 65d65d2023: 61d61d22232425

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
Revenue1,419,6351,392,6211,295,3951,391,4801,347,125
Cost of revenue1,081,6421,087,7751,066,8221,080,3811,023,323
Gross profit337,994304,847228,573311,099323,802
SG&A250,796243,120246,476242,936265,692
Operating income87,19861,726-9,40789,03646,676
Pretax income22,92650,927-14,21884,64745,042
Income tax20,27011,240-7,7019,87513,994
Net income attributable to owners-12,09432,422-6,50573,50329,031
Operating margin6.1%4.4%-0.7%6.4%3.5%

Balance sheet (reported items)

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

Assets

Cash 12%
Property, plant and equipment 32%
Intangibles and goodwill 13%
Other assets 43%

Funding

Other liabilities 65%
Equity 35%

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¥234.6B¥188.7B¥190.6B¥294.7B¥262B
Total assets¥2.14T¥2.11T¥2.05T¥2.17T¥2.11T
Net assets¥818.5B¥566.6B¥586.5B¥692B¥727.6B
Share capital¥182.1B¥182.1B¥182.1B¥182.1B¥182.1B
Trade receivables¥278.6B¥266.1B¥266.1B——
Property, plant and equipment¥659.5B¥671.6B¥668.7B¥670.8B¥662.9B
Intangible assets excluding goodwill¥522.5B¥493.7B¥470.6B——
Goodwill¥311.8B¥291B¥286.9B¥287B¥275.5B
Investment securities¥103.8B¥83.3B¥72.5B——
Current assets¥798.5B¥792.8B¥765.4B¥886.5B¥853B
Current liabilities¥488.6B¥458.9B¥461.9B——
Trade payables¥207.7B¥194.1B¥177.4B——
Short-term borrowings¥59.5B¥72.4B¥52.5B——
Long-term borrowings¥536.5B¥672.4B¥625.8B——
Bonds¥146.9B¥260B¥250B——
Interest-bearing debt¥742.9Bderived¥1Tderived¥928.3Bderived——
Total liabilities¥1.32T¥1.54T¥1.47T¥1.48T¥1.38T
Non-controlling interests¥304.5B¥24.4B¥25.8B——
Equity attributable to owners of parent¥433.6B¥539.8B¥560.1B¥664.6B¥698.9B
Retained earnings¥143.3B¥260.4B¥249.8B¥318.6B¥343.6B
Treasury stock-¥11.7B-¥11.6B-¥11.6B-¥13.2B-¥12.4B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第117期(2025/01/01－2025/12/31)

    ID S100XTT82026-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第116期(2024/01/01－2024/12/31)

    ID S100VHA92025-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第115期(2023/01/01－2023/12/31)

    ID S100T4LL2024-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第114期(2022/01/01－2022/12/31)

    ID S100QICN2023-03-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第113期(令和3年1月1日－令和3年12月31日)

    ID S100NSKJ2022-03-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第112期(令和2年1月1日－令和2年12月31日)

    ID S100L2YX2021-03-30Open

Extracted from XBRL: 45 / Derived from other figures: 1

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