System IntegratorSystem Integrator Corp.3826東証スタンダード情報・通信業FY ending Feb 2026, consolidated, J-GAAP

System Integrator revenue and profit

Out of every ¥100 of sales, about ¥11 is left as operating profit. Revenue changed +16.5% from the prior year, operating profit +119.3%.

Five-year trend

Revenue¥5.56B
FY ending Feb 2022: ¥4.82B¥4.82BFY ending Feb 2023: ¥4.49B¥4.49BFY ending Feb 2024: ¥4.84B¥4.84BFY ending Feb 2025: ¥4.77B¥4.77BFY ending Feb 2026: ¥5.56B¥5.56BFY22FY23FY24FY25FY26
Operating income¥595.4M
FY ending Feb 2022: ¥587.2M¥587.2MFY ending Feb 2023: ¥406.8M¥406.8MFY ending Feb 2024: ¥328.5M¥328.5MFY ending Feb 2025: ¥271.5M¥271.5MFY ending Feb 2026: ¥595.4M¥595.4MFY22FY23FY24FY25FY26
Operating margin10.7%
FY ending Feb 2022: 12.2%12.2%FY ending Feb 2023: 9.1%9.1%FY ending Feb 2024: 6.8%6.8%FY ending Feb 2025: 5.7%5.7%FY ending Feb 2026: 10.7%10.7%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin8.2%
Asset turnover1.04×
ROA8.6%
ROA8.6%
Financial leverage1.24×
ROE10.7%

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

Net margin8.2%
2022: 8.1%8.1%2023: 6.2%6.2%2024: 19.5%19.5%2025: 12.2%12.2%2026: 8.2%8.2%2223242526
Asset turnover1.04×
2022: 1.35×1.35×2023: 1.22×1.22×2024: 1.13×1.13×2025: 0.96×0.96×2026: 1.04×1.04×2223242526
ROA8.6%
2022: 10.9%10.9%2023: 7.6%7.6%2024: 22.1%22.1%2025: 11.7%11.7%2026: 8.6%8.6%2223242526
Financial leverage1.24×
2022: 1.34×1.34×2023: 1.34×1.34×2024: 1.32×1.32×2025: 1.21×1.21×2026: 1.24×1.24×2223242526
ROE10.7%
2022: 14.6%14.6%2023: 10.2%10.2%2024: 29.2%29.2%2025: 14.2%14.2%2026: 10.7%10.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20228.1%1.35×10.9%1.34×14.6%
20236.2%1.22×7.6%1.34×10.2%
202419.5%1.13×22.1%1.32×29.2%
202512.2%0.96×11.7%1.21×14.2%
20268.2%1.04×8.6%1.24×10.7%

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 ÷ revenue2.0%
2025: 2.6%2.6%2026: 2.0%2.0%2526
PPE ÷ total assets2.0%
2025: 2.5%2.5%2026: 2.0%2.0%2526
Goodwill ÷ parent equity2.7%
2026: 2.7%2.7%2526
Goodwill balance¥122.6M
2026: ¥122.6M¥122.6M2526

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¥70.9M
2025: ¥98.7M¥98.7M2026: ¥70.9M¥70.9M2526
R&D / revenue1.3%
2025: 2.1%2.1%2026: 1.3%1.3%2526

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 Feb 2022FY ending Feb 2023FY ending Feb 2024FY ending Feb 2025FY ending Feb 2026
Revenue4,8184,4864,8364,7695,558
Cost of revenue3,1332,9093,2073,2203,635
Gross profit1,6851,5771,6291,5491,923
SG&A1,0981,1701,3001,2781,328
Operating income587407328272595
Pretax income5534151,290836648
Income tax162135346251190
Net income attributable to owners391280944583458
Operating margin12.2%9.1%6.8%5.7%10.7%

Balance sheet (reported items)

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

Assets

Cash 41%
2%
8%
2%
Other assets 47%

Funding

Other liabilities 21%
Equity 79%

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

ItemFY ending Feb 2022FY ending Feb 2023FY ending Feb 2024FY ending Feb 2025FY ending Feb 2026
Cash and equivalents¥1.63B¥1.96B¥2.99B¥2.46B¥2.35B
Total assets¥3.58B¥3.78B¥4.75B¥4.98B¥5.68B
Net assets¥2.71B¥2.87B¥3.67B¥4.12B¥4.47B
Share capital¥367.7M¥367.7M¥367.7M¥367.7M¥367.7M
Property, plant and equipment¥70.3M¥68M¥64M¥122.6M¥113.6M
Intangible assets excluding goodwill¥464.8M¥319M¥176.9M¥152.6M¥305.5M
Goodwill————¥122.6M
Investment securities¥73M¥98.2M¥10M¥10M¥123.3M
Current assets¥2.8B¥3.09B¥4.17B¥4.46B¥4.85B
Current liabilities¥860.7M¥910.8M¥1.09B¥855.5M¥1.17B
Long-term borrowings————¥9.9M
Total liabilities¥866.1M¥910.8M¥1.09B¥865.3M¥1.22B
Non-controlling interests———¥5.2M¥5M
Equity attributable to owners of parent¥2.67B¥2.81B¥3.67B¥4.11B¥4.46B
Retained earnings¥1.99B¥2.17B¥3.03B¥3.48B¥3.82B
Treasury stock-¥42.8M-¥90.6M-¥90.6M-¥90.6M-¥90.6M

Sources

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

    訂正有価証券報告書-第31期(2025/03/01-2026/02/28)

    ID S100YCIF2026-06-16Open
  • EDINET (FSA Japan)

    有価証券報告書-第30期(2024/03/01-2025/02/28)

    ID S100VUF52025-05-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第29期(2023/03/01-2024/02/29)

    ID S100TIQ32024-05-29Open
  • EDINET (FSA Japan)

    有価証券報告書-第28期(2022/03/01-2023/02/28)

    ID S100QTW32023-05-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第27期(令和3年3月1日-令和4年2月28日)

    ID S100O49P2022-05-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第26期(令和2年3月1日-令和3年2月28日)

    ID S100KLVZ2021-05-27Open

Extracted from XBRL: 50 / Derived from other figures: 1

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