Showa PaxxsSHOWA PAXXS CORPORATION3954東証スタンダードパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Showa Paxxs revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +1.1% from the prior year, operating profit +18.5%.

Five-year trend

Revenue¥23.6B
FY ending Mar 2022: ¥21.6B¥21.6BFY ending Mar 2023: ¥22.3B¥22.3BFY ending Mar 2024: ¥21.7B¥21.7BFY ending Mar 2025: ¥23.3B¥23.3BFY ending Mar 2026: ¥23.6B¥23.6BFY22FY23FY24FY25FY26
Operating income¥1.63B
FY ending Mar 2022: ¥1.4B¥1.4BFY ending Mar 2023: ¥1.12B¥1.12BFY ending Mar 2024: ¥1.02B¥1.02BFY ending Mar 2025: ¥1.38B¥1.38BFY ending Mar 2026: ¥1.63B¥1.63BFY22FY23FY24FY25FY26
Operating margin6.9%
FY ending Mar 2022: 6.5%6.5%FY ending Mar 2023: 5.0%5.0%FY ending Mar 2024: 4.7%4.7%FY ending Mar 2025: 5.9%5.9%FY ending Mar 2026: 6.9%6.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.4%
Asset turnover0.67×
ROA3.7%
ROA3.7%
Financial leverage1.82×
ROE6.6%

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

Net margin5.4%
2022: 5.1%5.1%2023: 4.3%4.3%2024: 4.4%4.4%2025: 5.7%5.7%2026: 5.4%5.4%2223242526
Asset turnover0.67×
2022: 0.73×0.73×2023: 0.75×0.75×2024: 0.68×0.68×2025: 0.70×0.70×2026: 0.67×0.67×2223242526
ROA3.7%
2022: 3.7%3.7%2023: 3.2%3.2%2024: 3.0%3.0%2025: 4.0%4.0%2026: 3.7%3.7%2223242526
Financial leverage1.82×
2022: 1.81×1.81×2023: 1.80×1.80×2024: 1.83×1.83×2025: 1.82×1.82×2026: 1.82×1.82×2223242526
ROE6.6%
2022: 6.8%6.8%2023: 5.7%5.7%2024: 5.5%5.5%2025: 7.2%7.2%2026: 6.6%6.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20225.1%0.73×3.7%1.81×6.8%
20234.3%0.75×3.2%1.80×5.7%
20244.4%0.68×3.0%1.83×5.5%
20255.7%0.70×4.0%1.82×7.2%
20265.4%0.67×3.7%1.82×6.6%

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 ÷ revenue26.3%
2021: 23.8%23.8%2022: 22.7%22.7%2023: 23.2%23.2%2024: 23.9%23.9%2025: 25.1%25.1%2026: 26.3%26.3%212223242526
PPE ÷ total assets16.8%
2021: 17.1%17.1%2022: 16.7%16.7%2023: 17.0%17.0%2024: 15.5%15.5%2025: 17.5%17.5%2026: 16.8%16.8%212223242526

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¥236.8M
2021: ¥220.8M¥220.8M2022: ¥245.1M¥245.1M2023: ¥277.3M¥277.3M2024: ¥222.6M¥222.6M2025: ¥237.4M¥237.4M2026: ¥236.8M¥236.8M212223242526
R&D / revenue1.0%
2021: 1.1%1.1%2022: 1.1%1.1%2023: 1.2%1.2%2024: 1.0%1.0%2025: 1.0%1.0%2026: 1.0%1.0%212223242526
Receivable days94d
2021: 103d103d2022: 104d104d2023: 101d101d2024: 109d109d2025: 99d99d2026: 94d94d212223242526
Payable days54d
2021: 66d66d2022: 70d70d2023: 61d61d2024: 67d67d2025: 56d56d2026: 54d54d212223242526

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
Revenue21,59922,27721,65223,31723,564
Cost of revenue17,61718,53917,83419,05119,152
Gross profit3,9823,7383,8184,2664,412
SG&A2,5792,6232,7962,8882,779
Operating income1,4031,1161,0221,3781,632
Pretax income1,5781,3471,3351,8781,960
Income tax416338416532593
Net income attributable to owners1,1029489621,3201,283
Operating margin6.5%5.0%4.7%5.9%6.9%

Balance sheet (reported items)

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

Assets

Cash 22%
Receivables 17%
Property, plant and equipment 17%
0%
Investment securities 22%
Other assets 22%

Funding

8%
Other liabilities 18%
Equity 74%

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¥7.59B¥7.73B¥7.95B¥7.58B¥8.24B
Total assets¥29.4B¥30.4B¥33.3B¥33.4B¥36.9B
Net assets¥20.1B¥21.3B¥23.8B¥24.3B¥27.5B
Share capital¥640.5M¥640.5M¥640.5M¥640.5M¥640.5M
Trade receivables¥6.16B¥6.15B¥6.48B¥6.31B¥6.09B
Property, plant and equipment¥4.89B¥5.17B¥5.17B¥5.84B¥6.2B
Intangible assets excluding goodwill¥146M¥261.6M¥276.7M¥241M¥172.4M
Investment securities¥6.01B¥5.95B¥7.37B¥5.81B¥8.13B
Current assets¥17.5B¥18B¥19B¥19.3B¥19.9B
Current liabilities¥7.34B¥7.22B¥7.11B¥7.08B¥6.65B
Trade payables¥3.36B¥3.09B¥3.26B¥2.94B¥2.85B
Short-term borrowings¥1.06B¥1.29B¥1.2B¥1.18B¥1.16B
Long-term borrowings¥66M—¥42.2M¥31.2M¥40.7M
Total liabilities¥9.32B¥9.09B¥9.52B¥9.11B¥9.44B
Non-controlling interests¥683.8M¥770.3M¥754.2M¥828.4M¥764.1M
Equity attributable to owners of parent¥16.2B¥17B¥17.8B¥18.8B¥19.9B
Retained earnings¥15.3B¥16.1B¥16.8B¥18B¥19.1B
Treasury stock-¥9.4M-¥9.4M-¥9.4M-¥108.6M-¥108.6M

Sources

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

    有価証券報告書-第130期(2025/04/01-2026/03/31)

    ID S100YK0Y2026-06-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第129期(2024/04/01-2025/03/31)

    ID S100W6QJ2025-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第128期(2023/04/01-2024/03/31)

    ID S100TTIO2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第127期(2022/04/01-2023/03/31)

    ID S100R7MI2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第126期(令和3年4月1日-令和4年3月31日)

    ID S100OIRN2022-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第125期(令和2年4月1日-令和3年3月31日)

    ID S100LU6C2021-06-29Open

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

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