StarzenStarzen Company Limited8043東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Starzen revenue and profit

Out of every ¥100 of sales, about ¥2 is left as operating profit. Revenue changed +2.8% from the prior year, operating profit -3.1%.

Five-year trend

Revenue¥448.2B
FY ending Mar 2022: ¥381.4B¥381.4BFY ending Mar 2023: ¥425.2B¥425.2BFY ending Mar 2024: ¥410.5B¥410.5BFY ending Mar 2025: ¥436.1B¥436.1BFY ending Mar 2026: ¥448.2B¥448.2BFY22FY23FY24FY25FY26
Operating income¥8.76B
FY ending Mar 2022: ¥6.91B¥6.91BFY ending Mar 2023: ¥8.16B¥8.16BFY ending Mar 2024: ¥8.98B¥8.98BFY ending Mar 2025: ¥9.05B¥9.05BFY ending Mar 2026: ¥8.76B¥8.76BFY22FY23FY24FY25FY26
Operating margin2.0%
FY ending Mar 2022: 1.8%1.8%FY ending Mar 2023: 1.9%1.9%FY ending Mar 2024: 2.2%2.2%FY ending Mar 2025: 2.1%2.1%FY ending Mar 2026: 2.0%2.0%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin1.9%
Asset turnover2.40×
ROA4.5%
ROA4.5%
Financial leverage2.14×
ROE9.5%

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

Net margin1.9%
2022: 1.6%1.6%2023: 1.8%1.8%2024: 1.8%1.8%2025: 2.8%2.8%2026: 1.9%1.9%2223242526
Asset turnover2.40×
2022: 2.68×2.68×2023: 2.94×2.94×2024: 2.67×2.67×2025: 2.62×2.62×2026: 2.40×2.40×2223242526
ROA4.5%
2022: 4.2%4.2%2023: 5.2%5.2%2024: 4.9%4.9%2025: 7.3%7.3%2026: 4.5%4.5%2223242526
Financial leverage2.14×
2022: 2.29×2.29×2023: 2.21×2.21×2024: 2.16×2.16×2025: 2.09×2.09×2026: 2.14×2.14×2223242526
ROE9.5%
2022: 9.6%9.6%2023: 11.5%11.5%2024: 10.5%10.5%2025: 15.3%15.3%2026: 9.5%9.5%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20221.6%2.68×4.2%2.29×9.6%
20231.8%2.94×5.2%2.21×11.5%
20241.8%2.67×4.9%2.16×10.5%
20252.8%2.62×7.3%2.09×15.3%
20261.9%2.40×4.5%2.14×9.5%

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 ÷ revenue9.4%
2021: 8.5%8.5%2022: 7.6%7.6%2023: 6.8%6.8%2024: 7.5%7.5%2025: 7.6%7.6%2026: 9.4%9.4%212223242526
PPE ÷ total assets20.9%
2021: 22.6%22.6%2022: 20.3%20.3%2023: 19.7%19.7%2024: 19.2%19.2%2025: 19.3%19.3%2026: 20.9%20.9%212223242526
Goodwill ÷ parent equity2.6%
2021: 0.0%0.0%2026: 2.6%2.6%212223242526
Goodwill balance¥2.32B
2021: ¥6M¥6M2026: ¥2.32B¥2.32B212223242526

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¥97M
2021: ¥86M¥86M2022: ¥79M¥79M2023: ¥76M¥76M2024: ¥86M¥86M2025: ¥94M¥94M2026: ¥97M¥97M212223242526
R&D / revenue0.0%
2021: 0.0%0.0%2022: 0.0%0.0%2023: 0.0%0.0%2024: 0.0%0.0%2025: 0.0%0.0%2026: 0.0%0.0%212223242526
Receivable days—
2021: 36d36d212223242526

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
Revenue381,432425,173410,534436,112448,213
Cost of revenue345,981386,603369,658394,230404,051
Gross profit35,45138,56940,87541,88244,162
SG&A28,54530,40731,89632,83635,400
Operating income6,9058,1628,9789,0468,762
Pretax income8,48910,24511,03317,58711,560
Income tax2,6852,8173,5195,3883,220
Net income attributable to owners5,9847,4837,51212,1978,338
Operating margin1.8%1.9%2.2%2.1%2.0%

Balance sheet (reported items)

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

Assets

Cash 9%
Property, plant and equipment 21%
5%
Investment securities 12%
Other assets 53%

Funding

Other liabilities 53%
Equity 47%
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¥11B¥10.9B¥16.8B¥16.1B¥18B
Total assets¥142.4B¥146.5B¥161.2B¥171.9B¥202.1B
Net assets¥64B¥70.2B¥78B¥88.7B¥95.7B
Share capital¥11.7B¥11.7B¥11.7B¥11.7B¥11.7B
Property, plant and equipment¥28.8B¥28.9B¥30.9B¥33.2B¥42.2B
Intangible assets excluding goodwill¥1.95B¥2.67B¥3.54B¥4.09B¥6.75B
Goodwill————¥2.32B
Investment securities¥15.9B¥17.9B¥20B¥21.6B¥24.7B
Current assets¥93.6B¥95.5B¥105.2B¥111.4B¥125.4B
Current liabilities¥55.1B¥49.5B¥54.4B¥50.3B¥68.2B
Short-term borrowings¥10.8B¥8.74B¥5.82B¥7.2B¥13B
Long-term borrowings¥13.6B¥17.3B¥18.5B¥20.7B¥29.1B
Bonds¥5B¥5B¥5B¥5B—
Interest-bearing debt¥29.5Bderived¥31Bderived¥29.3Bderived¥32.9Bderived—
Total liabilities¥78.4B¥76.3B¥83.2B¥83.2B¥106.4B
Non-controlling interests-¥177M-¥233M¥2M¥3M¥4M
Equity attributable to owners of parent¥62.2B¥68.4B¥74.3B¥85.1B¥89.8B
Retained earnings¥38.1B¥44.3B¥50.4B¥61B¥67.2B
Treasury stock-¥105M-¥52M-¥190M-¥100M-¥1.6B

Sources

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

    有価証券報告書-第87期(2025/04/01-2026/03/31)

    ID S100YIM92026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第86期(2024/04/01-2025/03/31)

    ID S100W6HO2025-06-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第85期(2023/04/01-2024/03/31)

    ID S100TVDV2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第84期(2022/04/01-2023/03/31)

    ID S100R8OS2023-06-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第83期(令和3年4月1日-令和4年3月31日)

    ID S100OM8Q2022-06-30Open
  • EDINET (FSA Japan)

    有価証券報告書-第82期(令和2年4月1日-令和3年3月31日)

    ID S100LSW22021-06-29Open

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

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