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RolandRoland Corporation7944東証プライムその他製品FY ending Dec 2025, consolidated, J-GAAP

Roland revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +1.5% from the prior year, operating profit -5.4%.

Five-year trend

Revenue¥101B
FY ending Dec 2021: ¥80B¥80BFY ending Dec 2022: ¥95.8B¥95.8BFY ending Dec 2023: ¥102.4B¥102.4BFY ending Dec 2024: ¥99.4B¥99.4BFY ending Dec 2025: ¥101B¥101BFY21FY22FY23FY24FY25
Operating income¥9.41B
FY ending Dec 2021: ¥11.1B¥11.1BFY ending Dec 2022: ¥10.8B¥10.8BFY ending Dec 2023: ¥11.9B¥11.9BFY ending Dec 2024: ¥9.95B¥9.95BFY ending Dec 2025: ¥9.41B¥9.41BFY21FY22FY23FY24FY25
Operating margin9.3%
FY ending Dec 2021: 13.9%13.9%FY ending Dec 2022: 11.2%11.2%FY ending Dec 2023: 11.6%11.6%FY ending Dec 2024: 10.0%10.0%FY ending Dec 2025: 9.3%9.3%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin2.1%
Asset turnover1.22×
ROA2.6%
ROA2.6%
Financial leverage2.56×
ROE6.7%

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

Net margin2.1%
2021: 10.7%10.7%2022: 9.3%9.3%2023: 8.0%8.0%2024: 6.0%6.0%2025: 2.1%2.1%2122232425
Asset turnover1.22×
2021: 1.52×1.52×2022: 1.48×1.48×2023: 1.30×1.30×2024: 1.22×1.22×2025: 1.22×1.22×2122232425
ROA2.6%
2021: 16.3%16.3%2022: 13.8%13.8%2023: 10.3%10.3%2024: 7.4%7.4%2025: 2.6%2.6%2122232425
Financial leverage2.56×
2021: 1.88×1.88×2022: 2.19×2.19×2023: 2.39×2.39×2024: 2.28×2.28×2025: 2.56×2.56×2122232425
ROE6.7%
2021: 30.5%30.5%2022: 30.1%30.1%2023: 24.7%24.7%2024: 16.8%16.8%2025: 6.7%6.7%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
202110.7%1.52×16.3%1.88×30.5%
20229.3%1.48×13.8%2.19×30.1%
20238.0%1.30×10.3%2.39×24.7%
20246.0%1.22×7.4%2.28×16.8%
20252.1%1.22×2.6%2.56×6.7%

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 ÷ revenue14.1%
2020: 9.0%9.0%2021: 7.3%7.3%2022: 8.1%8.1%2023: 9.7%9.7%2024: 9.6%9.6%2025: 14.1%14.1%202122232425
PPE ÷ total assets17.1%
2020: 12.5%12.5%2021: 11.1%11.1%2022: 10.1%10.1%2023: 12.3%12.3%2024: 11.7%11.7%2025: 17.1%17.1%202122232425
Goodwill ÷ parent equity0.0%
2021: 0.1%0.1%2022: 10.5%10.5%2023: 9.0%9.0%2024: 8.5%8.5%2025: 0.0%0.0%202122232425
Goodwill balance¥2M
2021: ¥20M¥20M2022: ¥3.27B¥3.27B2023: ¥3.13B¥3.13B2024: ¥3.09B¥3.09B2025: ¥2M¥2M202122232425

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¥5.44B
2020: ¥4.04B¥4.04B2021: ¥4.14B¥4.14B2022: ¥4.2B¥4.2B2023: ¥5.19B¥5.19B2024: ¥5.58B¥5.58B2025: ¥5.44B¥5.44B202122232425
R&D / revenue5.4%
2020: 6.3%6.3%2021: 5.2%5.2%2022: 4.4%4.4%2023: 5.1%5.1%2024: 5.6%5.6%2025: 5.4%5.4%202122232425
Receivable days—
2020: 34d34d2021: 34d34d202122232425
Payable days43d
2020: 57d57d2021: 53d53d2022: 36d36d2023: 39d39d2024: 30d30d2025: 43d43d202122232425

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
Revenue80,03295,840102,44599,433100,952
Cost of revenue43,89556,48458,51256,86258,307
Gross profit36,13739,35643,93242,57142,644
SG&A25,04328,60532,06032,61933,231
Operating income11,09310,75111,8719,9519,412
Pretax income10,23910,52911,1488,7825,272
Income tax1,6501,5752,9552,7883,089
Net income attributable to owners8,5868,9388,1515,9762,168
Operating margin13.9%11.2%11.6%10.0%9.3%

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 17%
4%
1%
Other assets 59%

Funding

8%
Other liabilities 42%
Equity 50%

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¥8.78B¥10.5B¥12.9B¥14.5B¥15.9B
Total assets¥52.8B¥77.1B¥81B¥81.6B¥83.5B
Net assets¥28.7B¥33.7B¥40.1B¥46.7B¥41.4B
Share capital¥9.59B¥9.61B¥9.64B¥9.64B¥9.64B
Trade receivables¥7.44B————
Property, plant and equipment¥5.86B¥7.77B¥9.96B¥9.57B¥14.2B
Intangible assets excluding goodwill¥632M¥6.09B¥6.24B¥7.45B¥3.03B
Goodwill¥20M¥3.27B¥3.13B¥3.09B¥2M
Investment securities¥1.25B¥938M¥1.11B¥724M¥759M
Current assets¥42.6B¥57.9B¥58.7B¥58B¥58.8B
Current liabilities¥16B¥32.5B¥28B¥21.1B¥20.2B
Trade payables¥6.39B¥5.61B¥6.27B¥4.73B¥6.84B
Short-term borrowings—¥17.7B¥4.3B¥5.3B¥1.1B
Long-term borrowings¥5.82B¥7.57B¥10.1B¥10.8B¥18.5B
Total liabilities¥24.1B¥43.3B¥40.9B¥34.9B¥42.1B
Non-controlling interests¥161M¥184M¥235M¥262M¥286M
Equity attributable to owners of parent¥28.2B¥31.1B¥34.9B¥36.3B¥28.3B
Retained earnings¥18.9B¥23.8B¥27.3B¥28.3B¥19B
Treasury stock-¥482M-¥2.41B-¥2.21B-¥1.6B-¥342M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第54期(2025/01/01－2025/12/31)

    ID S100XNYW2026-03-05Open

  • EDINET (FSA Japan)

    有価証券報告書－第53期(2024/01/01－2024/12/31)

    ID S100VC6D2025-03-05Open

  • EDINET (FSA Japan)

    有価証券報告書－第52期(2023/01/01－2023/12/31)

    ID S100SZWZ2024-03-05Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第51期(2022/01/01－2022/12/31)

    ID S100QRVI2023-05-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第50期(令和3年1月1日－令和3年12月31日)

    ID S100NMLC2022-03-09Open

  • EDINET (FSA Japan)

    有価証券報告書－第49期(令和2年1月1日－令和2年12月31日)

    ID S100L2H12021-03-31Open

Extracted from XBRL: 55 / Derived from other figures: 1

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