Seiyu KogyoSEIYU KOGYO Co.,Ltd.9170名古屋証券取引所サービス業FY ending Sep 2025, consolidated, J-GAAP

Seiyu Kogyo revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +11.6% from the prior year, operating profit +38.5%.

Five-year trend

Revenue¥15.3B
FY ending Sep 2022: ¥11.1B¥11.1BFY ending Sep 2023: ¥12.3B¥12.3BFY ending Sep 2024: ¥13.7B¥13.7BFY ending Sep 2025: ¥15.3B¥15.3BFY22FY23FY24FY25
Operating income¥1.14B
FY ending Sep 2022: ¥366.4M¥366.4MFY ending Sep 2023: ¥591.6M¥591.6MFY ending Sep 2024: ¥823.9M¥823.9MFY ending Sep 2025: ¥1.14B¥1.14BFY22FY23FY24FY25
Operating margin7.5%
FY ending Sep 2022: 3.3%3.3%FY ending Sep 2023: 4.8%4.8%FY ending Sep 2024: 6.0%6.0%FY ending Sep 2025: 7.5%7.5%FY22FY23FY24FY25

What drives ROE

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

Net margin3.9%
Asset turnover0.95×
ROA3.7%
ROA3.7%
Financial leverage3.14×
ROE11.7%

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

Net margin3.9%
2022: 2.5%2.5%2023: 2.9%2.9%2024: 3.5%3.5%2025: 3.9%3.9%22232425
Asset turnover0.95×
2022: 1.05×1.05×2023: 1.11×1.11×2024: 1.00×1.00×2025: 0.95×0.95×22232425
ROA3.7%
2022: 2.7%2.7%2023: 3.2%3.2%2024: 3.5%3.5%2025: 3.7%3.7%22232425
Financial leverage3.14×
2022: 2.86×2.86×2023: 2.89×2.89×2024: 3.10×3.10×2025: 3.14×3.14×22232425
ROE11.7%
2022: 7.6%7.6%2023: 9.4%9.4%2024: 10.8%10.8%2025: 11.7%11.7%22232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.5%1.05×2.7%2.86×7.6%
20232.9%1.11×3.2%2.89×9.4%
20243.5%1.00×3.5%3.10×10.8%
20253.9%0.95×3.7%3.14×11.7%

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 ÷ revenue58.8%
2022: 59.7%59.7%2023: 54.3%54.3%2024: 61.5%61.5%2025: 58.8%58.8%22232425
PPE ÷ total assets54.8%
2022: 62.8%62.8%2023: 57.4%57.4%2024: 53.2%53.2%2025: 54.8%54.8%22232425
Goodwill ÷ parent equity16.3%
2024: 19.2%19.2%2025: 16.3%16.3%22232425
Goodwill balance¥884.8M
2024: ¥939.9M¥939.9M2025: ¥884.8M¥884.8M22232425

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.

Receivable days39d
2022: 42d42d2023: 59d59d2024: 41d41d2025: 39d39d22232425
Payable days33d
2022: 43d43d2023: 44d44d2024: 37d37d2025: 33d33d22232425

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 Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Revenue11,07112,26213,71915,309
Cost of revenue9,83510,74711,85512,491
Gross profit1,2361,5151,8642,818
SG&A8709231,0401,676
Operating income3665928241,141
Pretax income4155557371,056
Income tax136196258395
Net income attributable to owners279359478603
Operating margin3.3%4.8%6.0%7.5%

Balance sheet (reported items)

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

Assets

Cash 15%
Receivables 10%
Property, plant and equipment 55%
Intangibles and goodwill 11%
0%
Other assets 9%

Funding

7%
Interest-bearing debt 34%
Other liabilities 25%
Equity 34%
0%

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

ItemFY ending Sep 2022FY ending Sep 2023FY ending Sep 2024FY ending Sep 2025
Cash and equivalents¥1.19B¥1.47B¥2.28B¥2.56B
Total assets¥10.5B¥11.6B¥15.9B¥16.4B
Net assets¥3.67B¥3.98B¥5B¥5.58B
Share capital¥293.8M¥293.8M¥371.3M¥375.4M
Trade receivables¥1.28B¥1.98B¥1.54B¥1.62B
Property, plant and equipment¥6.61B¥6.66B¥8.44B¥9B
Intangible assets excluding goodwill¥4.8M¥3.7M¥946.7M¥891.4M
Goodwill——¥939.9M¥884.8M
Investment securities¥2.8M¥5.1M¥7.9M¥12.1M
Current assets¥3.76B¥4.75B¥6.15B¥6.19B
Current liabilities¥3.56B¥3.72B¥4.56B¥5.02B
Trade payables¥1.16B¥1.28B¥1.22B¥1.14B
Short-term borrowings¥500M¥300M¥650M¥500M
Long-term borrowings¥3.08B¥2.91B¥5.11B¥4.52B
Bonds—¥600M¥621.5M¥602.5M
Interest-bearing debt—¥3.81Bderived¥6.38Bderived¥5.62Bderived
Total liabilities¥6.85B¥7.62B¥10.9B¥10.8B
Non-controlling interests——¥108.8M¥165.7M
Equity attributable to owners of parent¥3.67B¥3.98B¥4.89B¥5.42B
Retained earnings¥3.36B¥3.67B¥4.08B¥4.6B

Sources

Show source documents (3)
  • EDINET (FSA Japan)

    有価証券報告書-第51期(2024/10/01-2025/09/30)

    ID S100XB942025-12-18Open
  • EDINET (FSA Japan)

    有価証券報告書-第50期(2023/10/01-2024/09/30)

    ID S100UZL12024-12-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第49期(2022/10/01-2023/09/30)

    ID S100SJ612023-12-25Open

Extracted from XBRL: 54 / Derived from other figures: 2

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