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SKY Perfect JSATSKY Perfect JSAT Corporation9412東証プライム情報・通信業FY ending Mar 2026, consolidated, J-GAAP

SKY Perfect JSAT revenue and profit

Out of every ¥100 of sales, about ¥28 is left as operating profit. Revenue changed +3.1% from the prior year, operating profit +28.3%.

Five-year trend

Revenue¥127.6B
FY ending Mar 2022: ¥119.6B¥119.6BFY ending Mar 2023: ¥121.1B¥121.1BFY ending Mar 2024: ¥121.9B¥121.9BFY ending Mar 2025: ¥123.7B¥123.7BFY ending Mar 2026: ¥127.6B¥127.6BFY22FY23FY24FY25FY26
Operating income¥35.3B
FY ending Mar 2022: ¥18.9B¥18.9BFY ending Mar 2023: ¥22.3B¥22.3BFY ending Mar 2024: ¥26.5B¥26.5BFY ending Mar 2025: ¥27.5B¥27.5BFY ending Mar 2026: ¥35.3B¥35.3BFY22FY23FY24FY25FY26
Operating margin27.6%
FY ending Mar 2022: 15.8%15.8%FY ending Mar 2023: 18.4%18.4%FY ending Mar 2024: 21.8%21.8%FY ending Mar 2025: 22.2%22.2%FY ending Mar 2026: 27.6%27.6%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin18.3%
Asset turnover0.31×
ROA5.7%
ROA5.7%
Financial leverage1.45×
ROE8.3%

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

Net margin18.3%
2022: 12.2%12.2%2023: 13.1%13.1%2024: 14.6%14.6%2025: 15.4%15.4%2026: 18.3%18.3%2223242526
Asset turnover0.31×
2022: 0.32×0.32×2023: 0.31×0.31×2024: 0.30×0.30×2025: 0.31×0.31×2026: 0.31×0.31×2223242526
ROA5.7%
2022: 3.9%3.9%2023: 4.1%4.1%2024: 4.4%4.4%2025: 4.7%4.7%2026: 5.7%5.7%2223242526
Financial leverage1.45×
2022: 1.56×1.56×2023: 1.57×1.57×2024: 1.57×1.57×2025: 1.52×1.52×2026: 1.45×1.45×2223242526
ROE8.3%
2022: 6.0%6.0%2023: 6.4%6.4%2024: 6.9%6.9%2025: 7.2%7.2%2026: 8.3%8.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202212.2%0.32×3.9%1.56×6.0%
202313.1%0.31×4.1%1.57×6.4%
202414.6%0.30×4.4%1.57×6.9%
202515.4%0.31×4.7%1.52×7.2%
202618.3%0.31×5.7%1.45×8.3%

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 ÷ revenue118.5%
2021: 96.0%96.0%2022: 99.6%99.6%2023: 95.3%95.3%2024: 91.3%91.3%2025: 93.1%93.1%2026: 118.5%118.5%212223242526
PPE ÷ total assets37.1%
2021: 34.7%34.7%2022: 31.5%31.5%2023: 28.9%28.9%2024: 27.5%27.5%2025: 28.6%28.6%2026: 37.1%37.1%212223242526
Goodwill ÷ parent equity—
2021: 0.4%0.4%2022: 0.0%0.0%212223242526
Goodwill balance—
2021: ¥945M¥945M2022: ¥67M¥67M212223242526

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¥112M
2021: ¥236M¥236M2022: ¥387M¥387M2023: ¥459M¥459M2024: ¥153M¥153M2025: ¥104M¥104M2026: ¥112M¥112M212223242526
R&D / revenue0.1%
2021: 0.2%0.2%2022: 0.3%0.3%2023: 0.4%0.4%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.1%0.1%212223242526

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
Revenue119,632121,139121,872123,721127,584
Cost of revenue—————
Gross profit—————
SG&A32,46729,75828,63729,83727,608
Operating income18,86222,32426,54527,48835,273
Pretax income20,27623,12226,25927,93734,908
Income tax5,4997,0228,1038,43511,253
Net income attributable to owners14,57915,81017,73919,10623,311
Operating margin15.8%18.4%21.8%22.2%27.6%

Balance sheet (reported items)

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

Assets

Cash 14%
Property, plant and equipment 37%
2%
Investment securities 13%
Other assets 34%

Funding

Other liabilities 25%
Equity 75%
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¥85.9B¥107.9B¥114.3B¥114.5B¥57.6B
Total assets¥378.2B¥399.1B¥405.4B¥403.4B¥407.8B
Net assets¥243.1B¥256.8B¥272B¥284.2B¥307B
Share capital¥10.1B¥10.1B¥10.1B¥10.2B¥10.2B
Property, plant and equipment¥119.2B¥115.4B¥111.3B¥115.2B¥151.2B
Intangible assets excluding goodwill¥5.14B¥4.34B¥4.6B¥5.4B¥5.63B
Goodwill¥67M————
Investment securities¥21.1B¥24.9B¥38.9B¥37.8B¥53.8B
Current assets¥206.3B¥228.9B¥231.3B¥228.6B¥186.6B
Current liabilities¥51.7B¥64.1B¥60.2B¥69.8B¥60.4B
Long-term borrowings¥61.6B¥53B¥45B¥32.1B¥23.7B
Bonds¥10B¥10B¥10B——
Total liabilities¥135.1B¥142.2B¥133.4B¥119.2B¥100.7B
Non-controlling interests¥1.09B¥1.4B¥1.76B¥2.46B¥3.48B
Equity attributable to owners of parent¥242.7B¥253.4B¥260.2B¥273.2B¥286.7B
Retained earnings¥103.7B¥114.3B¥126B¥138.9B¥152.3B
Treasury stock-¥3B-¥2.92B-¥7.92B-¥7.92B-¥7.88B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第19期(2025/04/01－2026/03/31)

    ID S100YBNS2026-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(2024/04/01－2025/03/31)

    ID S100VY952025-06-17Open

  • EDINET (FSA Japan)

    有価証券報告書－第17期(2023/04/01－2024/03/31)

    ID S100TOHH2024-06-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第16期(2022/04/01－2023/03/31)

    ID S100R11K2023-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第15期(令和3年4月1日－令和4年3月31日)

    ID S100OENK2022-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第14期(令和2年4月1日－令和3年3月31日)

    ID S100LPG32021-06-25Open

Extracted from XBRL: 48 / Derived from other figures: 1

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