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Shoei FoodsSHOEI FOODS CORPORATION8079東証プライム卸売業FY ending Oct 2025, consolidated, J-GAAP

Shoei Foods revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed +8.4% from the prior year, operating profit +2.0%.

Five-year trend

Revenue¥124.9B
FY ending Oct 2021: ¥99.6B¥99.6BFY ending Oct 2022: ¥103.2B¥103.2BFY ending Oct 2023: ¥109.6B¥109.6BFY ending Oct 2024: ¥115.2B¥115.2BFY ending Oct 2025: ¥124.9B¥124.9BFY21FY22FY23FY24FY25
Operating income¥4.94B
FY ending Oct 2021: ¥4.18B¥4.18BFY ending Oct 2022: ¥3.75B¥3.75BFY ending Oct 2023: ¥4.03B¥4.03BFY ending Oct 2024: ¥4.84B¥4.84BFY ending Oct 2025: ¥4.94B¥4.94BFY21FY22FY23FY24FY25
Operating margin4.0%
FY ending Oct 2021: 4.2%4.2%FY ending Oct 2022: 3.6%3.6%FY ending Oct 2023: 3.7%3.7%FY ending Oct 2024: 4.2%4.2%FY ending Oct 2025: 4.0%4.0%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin2.4%
Asset turnover1.34×
ROA3.3%
ROA3.3%
Financial leverage1.95×
ROE6.4%

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

Net margin2.4%
2021: 2.8%2.8%2022: 2.7%2.7%2023: 2.6%2.6%2024: 2.8%2.8%2025: 2.4%2.4%2122232425
Asset turnover1.34×
2021: 1.27×1.27×2022: 1.28×1.28×2023: 1.29×1.29×2024: 1.30×1.30×2025: 1.34×1.34×2122232425
ROA3.3%
2021: 3.6%3.6%2022: 3.5%3.5%2023: 3.3%3.3%2024: 3.6%3.6%2025: 3.3%3.3%2122232425
Financial leverage1.95×
2021: 1.92×1.92×2022: 1.93×1.93×2023: 1.94×1.94×2024: 1.92×1.92×2025: 1.95×1.95×2122232425
ROE6.4%
2021: 6.8%6.8%2022: 6.7%6.7%2023: 6.4%6.4%2024: 6.9%6.9%2025: 6.4%6.4%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20212.8%1.27×3.6%1.92×6.8%
20222.7%1.28×3.5%1.93×6.7%
20232.6%1.29×3.3%1.94×6.4%
20242.8%1.30×3.6%1.92×6.9%
20252.4%1.34×3.3%1.95×6.4%

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 ÷ revenue18.2%
2020: 24.2%24.2%2021: 25.3%25.3%2022: 24.1%24.1%2023: 22.0%22.0%2024: 20.3%20.3%2025: 18.2%18.2%202122232425
PPE ÷ total assets23.6%
2020: 31.8%31.8%2021: 32.1%32.1%2022: 30.1%30.1%2023: 27.6%27.6%2024: 26.1%26.1%2025: 23.6%23.6%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.

Receivable days69d
2020: 72d72d2021: 72d72d2022: 72d72d2023: 70d70d2024: 69d69d2025: 69d69d202122232425
Payable days37d
2020: 43d43d2021: 46d46d2022: 45d45d2023: 39d39d2024: 44d44d2025: 37d37d202122232425

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 Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Revenue99,631103,188109,594115,209124,898
Cost of revenue83,05886,58492,04296,591105,249
Gross profit16,57316,60517,55318,61819,649
SG&A12,39012,85613,51813,77314,706
Operating income4,1823,7494,0354,8454,943
Pretax income4,2624,0994,1174,9594,521
Income tax1,4191,2511,2671,7111,391
Net income attributable to owners2,7892,7882,8093,1703,036
Operating margin4.2%3.6%3.7%4.2%4.0%

Balance sheet (reported items)

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

Assets

Cash 12%
Receivables 25%
Property, plant and equipment 24%
0%
5%
Other assets 34%

Funding

Trade payables 11%
Other liabilities 31%
Equity 58%
0%

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

ItemFY ending Oct 2021FY ending Oct 2022FY ending Oct 2023FY ending Oct 2024FY ending Oct 2025
Cash and equivalents¥9.86B¥7.87B¥12.9B¥11.2B¥11.5B
Total assets¥78.5B¥82.9B¥87.5B¥89.9B¥96.6B
Net assets¥44.4B¥49.2B¥52B¥54.2B¥55.9B
Share capital¥3.38B¥3.38B¥3.38B¥3.38B¥3.38B
Trade receivables¥19.6B¥20.3B¥21.1B¥21.8B¥23.8B
Property, plant and equipment¥25.2B¥24.9B¥24.1B¥23.4B¥22.8B
Intangible assets excluding goodwill¥267.6M¥279.2M¥291.7M¥631.1M¥491.1M
Investment securities¥3.73B¥3.57B¥4.25B¥4.49B¥4.69B
Current assets¥47B¥51.6B¥56.3B¥59.1B¥65.8B
Current liabilities¥24.2B¥27.1B¥27.2B¥25.8B¥33.8B
Trade payables¥10.5B¥10.6B¥9.91B¥11.7B¥10.7B
Short-term borrowings¥9.28B¥8.8B¥9.68B¥8.83B¥14B
Long-term borrowings¥8.29B¥5.04B¥6.66B¥8.29B¥5.45B
Total liabilities¥34.1B¥33.7B¥35.4B¥35.7B¥40.7B
Non-controlling interests¥835.8M¥886.5M¥928.1M¥999.6M¥1.1B
Equity attributable to owners of parent¥40.9B¥42.9B¥44.9B¥47.3B¥48.3B
Retained earnings¥35.4B¥37.3B¥39.3B¥41.7B¥43.8B
Treasury stock-¥928.6M-¥910.6M-¥890.8M-¥873.8M-¥1.98B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第78期(2024/11/01－2025/10/31)

    ID S100XHU72026-01-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(2023/11/01－2024/10/31)

    ID S100V5UM2025-01-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(2022/11/01－2023/10/31)

    ID S100SOQ12024-01-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第75期(2021/11/01－2022/10/31)

    ID S100Q0U52023-01-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第74期(令和2年11月1日－令和3年10月31日)

    ID S100NACS2022-01-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第73期(令和1年11月1日－令和2年10月31日)

    ID S100KL6N2021-01-28Open

Extracted from XBRL: 53 / Derived from other figures: 1

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