Seiko GroupSEIKO GROUP CORPORATION8050東証プライム精密機器FY ending Mar 2026, consolidated, J-GAAP

Seiko Group revenue and profit

Out of every ¥100 of sales, about ¥9 is left as operating profit. Revenue changed +10.2% from the prior year, operating profit +45.4%.

Five-year trend

Revenue¥335.7B
FY ending Mar 2022: ¥237.4B¥237.4BFY ending Mar 2023: ¥260.5B¥260.5BFY ending Mar 2024: ¥276.8B¥276.8BFY ending Mar 2025: ¥304.7B¥304.7BFY ending Mar 2026: ¥335.7B¥335.7BFY22FY23FY24FY25FY26
Operating income¥30.9B
FY ending Mar 2022: ¥8.77B¥8.77BFY ending Mar 2023: ¥11.2B¥11.2BFY ending Mar 2024: ¥14.7B¥14.7BFY ending Mar 2025: ¥21.2B¥21.2BFY ending Mar 2026: ¥30.9B¥30.9BFY22FY23FY24FY25FY26
Operating margin9.2%
FY ending Mar 2022: 3.7%3.7%FY ending Mar 2023: 4.3%4.3%FY ending Mar 2024: 5.3%5.3%FY ending Mar 2025: 7.0%7.0%FY ending Mar 2026: 9.2%9.2%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin6.5%
Asset turnover0.89×
ROA5.8%
ROA5.8%
Financial leverage3.07×
ROE17.9%

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

Net margin6.5%
2022: 2.7%2.7%2023: 1.9%1.9%2024: 3.6%3.6%2025: 4.4%4.4%2026: 6.5%6.5%2223242526
Asset turnover0.89×
2022: 0.72×0.72×2023: 0.76×0.76×2024: 0.76×0.76×2025: 0.82×0.82×2026: 0.89×0.89×2223242526
ROA5.8%
2022: 2.0%2.0%2023: 1.5%1.5%2024: 2.7%2.7%2025: 3.6%3.6%2026: 5.8%5.8%2223242526
Financial leverage3.07×
2022: 3.41×3.41×2023: 3.51×3.51×2024: 3.61×3.61×2025: 3.42×3.42×2026: 3.07×3.07×2223242526
ROE17.9%
2022: 6.7%6.7%2023: 5.2%5.2%2024: 9.9%9.9%2025: 12.2%12.2%2026: 17.9%17.9%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.7%0.72×2.0%3.41×6.7%
20231.9%0.76×1.5%3.51×5.2%
20243.6%0.76×2.7%3.61×9.9%
20254.4%0.82×3.6%3.42×12.2%
20266.5%0.89×5.8%3.07×17.9%

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 ÷ revenue34.1%
2021: 50.9%50.9%2022: 44.3%44.3%2023: 42.7%42.7%2024: 41.9%41.9%2025: 37.1%37.1%2026: 34.1%34.1%212223242526
PPE ÷ total assets29.8%
2021: 32.3%32.3%2022: 32.1%32.1%2023: 31.2%31.2%2024: 30.8%30.8%2025: 30.6%30.6%2026: 29.8%29.8%212223242526
Goodwill ÷ parent equity4.6%
2021: 7.9%7.9%2022: 6.7%6.7%2023: 7.0%7.0%2024: 7.7%7.7%2025: 5.6%5.6%2026: 4.6%4.6%212223242526
Goodwill balance¥6.09B
2021: ¥7.34B¥7.34B2022: ¥6.45B¥6.45B2023: ¥6.9B¥6.9B2024: ¥8.03B¥8.03B2025: ¥6.38B¥6.38B2026: ¥6.09B¥6.09B212223242526

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¥4.05B
2021: ¥4.09B¥4.09B2022: ¥4.11B¥4.11B2023: ¥3.98B¥3.98B2024: ¥3.61B¥3.61B2025: ¥4.26B¥4.26B2026: ¥4.05B¥4.05B212223242526
R&D / revenue1.2%
2021: 2.0%2.0%2022: 1.7%1.7%2023: 1.5%1.5%2024: 1.3%1.3%2025: 1.4%1.4%2026: 1.2%1.2%212223242526
Receivable days—
2021: 67d67d212223242526
Payable days57d
2021: 57d57d2022: 56d56d2023: 46d46d2024: 51d51d2025: 58d58d2026: 57d57d212223242526

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 Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue237,382260,504276,807304,744335,686
Cost of revenue138,203148,706154,120167,676180,483
Gross profit99,178111,798122,686137,068155,203
SG&A90,408100,564107,948115,827124,329
Operating income8,77011,23314,73721,24030,873
Pretax income8,8769,64215,12320,27331,807
Income tax2,2644,3464,7856,7659,730
Net income attributable to owners6,4155,02810,05113,31621,980
Operating margin3.7%4.3%5.3%7.0%9.2%

Balance sheet (reported items)

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

Assets

Cash 11%
Property, plant and equipment 30%
7%
Investment securities 13%
Other assets 39%

Funding

7%
Other liabilities 47%
Equity 46%
0%

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

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥30.7B¥36.2B¥32.7B¥39.4B¥43.5B
Total assets¥327.5B¥355.9B¥376.3B¥369.2B¥383.9B
Net assets¥121.6B¥131.7B¥151.3B¥158B¥177.5B
Share capital¥10B¥10B¥10B¥10B¥10B
Property, plant and equipment¥105.1B¥111.1B¥116B¥113B¥114.4B
Intangible assets excluding goodwill¥14.8B¥15.5B¥18.2B¥18B¥20B
Goodwill¥6.45B¥6.9B¥8.03B¥6.38B¥6.09B
Investment securities¥43.5B¥45.5B¥56.4B¥53.1B¥49.5B
Current assets¥154.8B¥173.4B¥174.7B¥174.2B¥187.9B
Current liabilities¥154.4B¥162.2B¥165.5B¥149.6B¥156.6B
Trade payables¥21B¥18.8B¥21.5B¥26.8B¥28.3B
Short-term borrowings¥63.7B¥72.6B¥64.3B¥50.5B¥42.6B
Long-term borrowings¥28.8B¥37.5B¥31.7B¥34B¥24.3B
Bonds¥300M————
Interest-bearing debt¥92.8Bderived————
Total liabilities¥205.9B¥224.2B¥224.9B¥211.2B¥206.4B
Non-controlling interests¥1.56B¥1.96B¥2.23B¥2.04B¥1.72B
Equity attributable to owners of parent¥96B¥98.5B¥104.1B¥114B¥131.1B
Retained earnings¥79.1B¥81.5B¥88.5B¥98.2B¥115.2B
Treasury stock-¥292M-¥248M-¥1.58B-¥1.38B-¥1.32B

Sources

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

    有価証券報告書-第165期(2025/04/01-2026/03/31)

    ID S100YHM22026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第164期(2024/04/01-2025/03/31)

    ID S100W5ES2025-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第163期(2023/04/01-2024/03/31)

    ID S100TUHU2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第162期(2022/04/01-2023/03/31)

    ID S100R7BJ2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第161期(令和3年4月1日-令和4年3月31日)

    ID S100OIX12022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第160期(令和2年4月1日-令和3年3月31日)

    ID S100LT8N2021-06-29Open

Extracted from XBRL: 54 / Derived from other figures: 1

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