Seiko ElectricSEIKO ELECTRIC CO., LTD.6653東証プライム電気機器FY ending Dec 2025, consolidated, J-GAAP

Seiko Electric revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +7.8% from the prior year, operating profit +29.7%.

Five-year trend

Revenue¥31.4B
FY ending Dec 2021: ¥24.6B¥24.6BFY ending Dec 2022: ¥25B¥25BFY ending Dec 2023: ¥27.1B¥27.1BFY ending Dec 2024: ¥29.1B¥29.1BFY ending Dec 2025: ¥31.4B¥31.4BFY21FY22FY23FY24FY25
Operating income¥2.62B
FY ending Dec 2021: ¥1.41B¥1.41BFY ending Dec 2022: ¥1.44B¥1.44BFY ending Dec 2023: ¥1.62B¥1.62BFY ending Dec 2024: ¥2.02B¥2.02BFY ending Dec 2025: ¥2.62B¥2.62BFY21FY22FY23FY24FY25
Operating margin8.3%
FY ending Dec 2021: 5.7%5.7%FY ending Dec 2022: 5.8%5.8%FY ending Dec 2023: 6.0%6.0%FY ending Dec 2024: 6.9%6.9%FY ending Dec 2025: 8.3%8.3%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin6.5%
Asset turnover0.96×
ROA6.3%
ROA6.3%
Financial leverage2.21×
ROE13.8%

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

Net margin6.5%
2021: 4.3%4.3%2022: 4.3%4.3%2023: 4.4%4.4%2024: 5.3%5.3%2025: 6.5%6.5%2122232425
Asset turnover0.96×
2021: 0.95×0.95×2022: 0.93×0.93×2023: 0.95×0.95×2024: 0.98×0.98×2025: 0.96×0.96×2122232425
ROA6.3%
2021: 4.1%4.1%2022: 4.0%4.0%2023: 4.2%4.2%2024: 5.2%5.2%2025: 6.3%6.3%2122232425
Financial leverage2.21×
2021: 2.60×2.60×2022: 2.63×2.63×2023: 2.58×2.58×2024: 2.33×2.33×2025: 2.21×2.21×2122232425
ROE13.8%
2021: 10.7%10.7%2022: 10.6%10.6%2023: 10.9%10.9%2024: 12.1%12.1%2025: 13.8%13.8%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20214.3%0.95×4.1%2.60×10.7%
20224.3%0.93×4.0%2.63×10.6%
20234.4%0.95×4.2%2.58×10.9%
20245.3%0.98×5.2%2.33×12.1%
20256.5%0.96×6.3%2.21×13.8%

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 ÷ revenue23.7%
2020: 17.7%17.7%2021: 22.0%22.0%2022: 21.1%21.1%2023: 21.3%21.3%2024: 19.8%19.8%2025: 23.7%23.7%202122232425
PPE ÷ total assets21.4%
2020: 17.3%17.3%2021: 20.9%20.9%2022: 18.8%18.8%2023: 20.1%20.1%2024: 19.0%19.0%2025: 21.4%21.4%202122232425

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¥99M
2020: ¥113M¥113M2021: ¥103M¥103M2022: ¥84M¥84M2023: ¥129M¥129M2024: ¥121M¥121M2025: ¥99M¥99M202122232425
R&D / revenue0.3%
2020: 0.5%0.5%2021: 0.4%0.4%2022: 0.3%0.3%2023: 0.5%0.5%2024: 0.4%0.4%2025: 0.3%0.3%202122232425
Receivable days—
2020: 170d170d2021: 180d180d202122232425
Payable days88d
2020: 63d63d2021: 81d81d2022: 80d80d2023: 90d90d2024: 71d71d2025: 88d88d202122232425

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
Revenue24,59625,00727,07129,09931,380
Cost of revenue20,18120,53622,40023,90425,428
Gross profit4,4154,4704,6715,1945,951
SG&A3,0083,0303,0483,1783,336
Operating income1,4061,4401,6222,0162,615
Pretax income1,5401,6121,8162,3593,126
Income tax4845296138221,089
Net income attributable to owners1,0561,0821,2021,5362,036
Operating margin5.7%5.8%6.0%6.9%8.3%

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 21%
1%
Investment securities 15%
Other assets 54%

Funding

Trade payables 18%
Other liabilities 30%
Equity 52%

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¥1.84B¥2.32B¥2.25B¥3.16B¥3.25B
Total assets¥25.8B¥28.1B¥28.8B¥30.3B¥34.7B
Net assets¥10.9B¥11.6B¥13.2B¥15.9B¥18.1B
Share capital¥2.61B¥2.61B¥2.61B¥3.32B¥3.32B
Trade receivables¥12.2B————
Property, plant and equipment¥5.4B¥5.28B¥5.77B¥5.77B¥7.45B
Intangible assets excluding goodwill¥174M¥232M¥226M¥211M¥220M
Investment securities¥3.14B¥3.05B¥4.14B¥4.13B¥5.21B
Current assets¥16.9B¥19.4B¥18.5B¥20.1B¥21.6B
Current liabilities¥11.3B¥13.2B¥12.3B¥11.6B¥13.4B
Trade payables¥4.46B¥4.48B¥5.55B¥4.62B¥6.11B
Short-term borrowings¥2.48B¥4.25B¥2.47B¥2.16B¥655M
Long-term borrowings¥1.24B¥1.01B¥780M¥552M¥323M
Total liabilities¥14.9B¥16.5B¥15.5B¥14.4B¥16.6B
Equity attributable to owners of parent¥9.91B¥10.6B¥11.4B¥14B¥15.4B
Retained earnings¥5.57B¥6.23B¥7.04B¥8.12B¥9.54B
Treasury stock-¥225M-¥215M-¥204M-¥193M-¥179M

Sources

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

    有価証券報告書-第122期(2025/01/01-2025/12/31)

    ID S100XU9B2026-03-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第121期(2024/01/01-2024/12/31)

    ID S100VHDC2025-03-27Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第120期(2023/01/01-2023/12/31)

    ID S100UOL12024-11-08Open
  • EDINET (FSA Japan)

    有価証券報告書-第119期(2022/01/01-2022/12/31)

    ID S100QGYM2023-03-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第118期(令和3年1月1日-令和3年12月31日)

    ID S100NQST2022-03-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第117期(令和2年1月1日-令和2年12月31日)

    ID S100L2DR2021-03-30Open

Extracted from XBRL: 49 / Derived from other figures: 1

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