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Seino HoldingsSEINO HOLDINGS CO.,LTD.9076東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

Seino Holdings revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +10.3% from the prior year, operating profit +25.8%.

Five-year trend

Revenue¥813B
FY ending Mar 2022: ¥607.7B¥607.7BFY ending Mar 2023: ¥631.5B¥631.5BFY ending Mar 2024: ¥642.8B¥642.8BFY ending Mar 2025: ¥737.4B¥737.4BFY ending Mar 2026: ¥813B¥813BFY22FY23FY24FY25FY26
Operating income¥37.6B
FY ending Mar 2022: ¥27.5B¥27.5BFY ending Mar 2023: ¥28.5B¥28.5BFY ending Mar 2024: ¥23.4B¥23.4BFY ending Mar 2025: ¥29.9B¥29.9BFY ending Mar 2026: ¥37.6B¥37.6BFY22FY23FY24FY25FY26
Operating margin4.6%
FY ending Mar 2022: 4.5%4.5%FY ending Mar 2023: 4.5%4.5%FY ending Mar 2024: 3.6%3.6%FY ending Mar 2025: 4.1%4.1%FY ending Mar 2026: 4.6%4.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin2.9%
Asset turnover1.04×
ROA3.0%
ROA3.0%
Financial leverage2.04×
ROE6.2%

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

Net margin2.9%
2022: 2.8%2.8%2023: 3.0%3.0%2024: 2.3%2.3%2025: 2.6%2.6%2026: 2.9%2.9%2223242526
Asset turnover1.04×
2022: 0.89×0.89×2023: 0.91×0.91×2024: 0.92×0.92×2025: 1.01×1.01×2026: 1.04×1.04×2223242526
ROA3.0%
2022: 2.5%2.5%2023: 2.7%2.7%2024: 2.1%2.1%2025: 2.6%2.6%2026: 3.0%3.0%2223242526
Financial leverage2.04×
2022: 1.63×1.63×2023: 1.63×1.63×2024: 1.67×1.67×2025: 1.90×1.90×2026: 2.04×2.04×2223242526
ROE6.2%
2022: 4.1%4.1%2023: 4.5%4.5%2024: 3.5%3.5%2025: 5.0%5.0%2026: 6.2%6.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.8%0.89×2.5%1.63×4.1%
20233.0%0.91×2.7%1.63×4.5%
20242.3%0.92×2.1%1.67×3.5%
20252.6%1.01×2.6%1.90×5.0%
20262.9%1.04×3.0%2.04×6.2%

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 ÷ revenue53.4%
2021: 56.5%56.5%2022: 56.2%56.2%2023: 54.4%54.4%2024: 53.8%53.8%2025: 57.6%57.6%2026: 53.4%53.4%212223242526
PPE ÷ total assets54.9%
2021: 49.8%49.8%2022: 49.9%49.9%2023: 48.8%48.8%2024: 50.1%50.1%2025: 55.1%55.1%2026: 54.9%54.9%212223242526
Goodwill ÷ parent equity1.8%
2021: 2.8%2.8%2022: 2.7%2.7%2023: 2.7%2.7%2024: 2.3%2.3%2025: 2.4%2.4%2026: 1.8%1.8%212223242526
Goodwill balance¥7.27B
2021: ¥11.5B¥11.5B2022: ¥11.1B¥11.1B2023: ¥11.6B¥11.6B2024: ¥9.47B¥9.47B2025: ¥8.95B¥8.95B2026: ¥7.27B¥7.27B212223242526

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.

Inventory days11d
2021: 9d9d2022: 8d8d2023: 11d11d2024: 13d13d2025: 11d11d2026: 11d11d212223242526

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
Revenue607,657631,507642,811737,377812,965
Cost of revenue536,078554,998569,213650,763715,167
Gross profit71,57976,50973,59786,61497,797
SG&A44,03348,00750,19456,73060,192
Operating income27,54528,50123,40329,88337,605
Pretax income28,34531,35125,61732,50041,609
Income tax10,69811,89111,14912,12316,187
Net income attributable to owners17,25519,01314,56119,25323,638
Operating margin4.5%4.5%3.6%4.1%4.6%

Balance sheet (reported items)

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

Assets

Cash 11%
3%
Property, plant and equipment 55%
3%
Investment securities 11%
Other assets 17%

Funding

Other liabilities 40%
Equity 60%
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¥99.5B¥101.1B¥75.4B¥77.4B¥84.1B
Total assets¥685.3B¥703.9B¥689.5B¥770.8B¥790.1B
Net assets¥433.5B¥449.7B¥435.6B¥423.6B¥471.3B
Share capital¥42.5B¥42.5B¥42.5B¥42.5B¥42.5B
Inventories¥11.2B¥16.4B¥20.6B¥19.5B¥22B
Property, plant and equipment¥341.7B¥343.2B¥345.7B¥424.9B¥434.1B
Intangible assets excluding goodwill¥16.6B¥17.5B¥15.3B¥17.1B¥16.3B
Goodwill¥11.1B¥11.6B¥9.47B¥8.95B¥7.27B
Investment securities¥60.8B¥65.3B¥81.5B¥71.1B¥89.8B
Current assets¥245.6B¥255.4B¥230.4B¥233.6B¥229.8B
Current liabilities¥110B¥113B¥119.8B¥232.3B¥129.7B
Short-term borrowings¥3.24B¥4.76B¥3.75B¥83.2B¥6.88B
Long-term borrowings¥9.82B¥9.39B¥6.93B¥5.88B¥82.6B
Total liabilities¥251.7B¥254.2B¥253.9B¥347.3B¥318.8B
Non-controlling interests¥3.63B¥4.88B¥5.19B¥26.6B¥27.7B
Equity attributable to owners of parent¥419.1B¥433.4B¥403.4B¥365.5B¥399.1B
Retained earnings¥332.9B¥346.4B¥321.3B¥323.3B¥329.7B
Treasury stock-¥37.1B-¥36.4B-¥37.6B-¥77.7B-¥50.3B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第105期(2025/04/01－2026/03/31)

    ID S100YI522026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第104期(2024/04/01－2025/03/31)

    ID S100W4TE2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第103期(2023/04/01－2024/03/31)

    ID S100TWCC2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第102期(2022/04/01－2023/03/31)

    ID S100R7O72023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第101期(令和3年4月1日－令和4年3月31日)

    ID S100OKLK2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第100期(令和2年4月1日－令和3年3月31日)

    ID S100LOQ02021-06-25Open

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