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TechnoflexTECHNOFLEX CORPORATION3449東証スタンダード金属製品FY ending Dec 2025, consolidated, J-GAAP

Technoflex revenue and profit

Out of every ¥100 of sales, about ¥15 is left as operating profit. Revenue changed +18.1% from the prior year, operating profit +78.4%.

Five-year trend

Revenue¥26B
FY ending Dec 2021: ¥19.6B¥19.6BFY ending Dec 2022: ¥22.2B¥22.2BFY ending Dec 2023: ¥21.2B¥21.2BFY ending Dec 2024: ¥22B¥22BFY ending Dec 2025: ¥26B¥26BFY21FY22FY23FY24FY25
Operating income¥3.92B
FY ending Dec 2021: ¥2.62B¥2.62BFY ending Dec 2022: ¥2.75B¥2.75BFY ending Dec 2023: ¥1.48B¥1.48BFY ending Dec 2024: ¥2.2B¥2.2BFY ending Dec 2025: ¥3.92B¥3.92BFY21FY22FY23FY24FY25
Operating margin15.1%
FY ending Dec 2021: 13.3%13.3%FY ending Dec 2022: 12.4%12.4%FY ending Dec 2023: 7.0%7.0%FY ending Dec 2024: 10.0%10.0%FY ending Dec 2025: 15.1%15.1%FY21FY22FY23FY24FY25

What drives ROE

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

Net margin12.0%
Asset turnover0.70×
ROA8.3%
ROA8.3%
Financial leverage1.66×
ROE13.8%

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

Net margin12.0%
2021: 8.8%8.8%2022: 10.9%10.9%2023: 4.5%4.5%2024: 6.0%6.0%2025: 12.0%12.0%2122232425
Asset turnover0.70×
2021: 0.68×0.68×2022: 0.71×0.71×2023: 0.65×0.65×2024: 0.65×0.65×2025: 0.70×0.70×2122232425
ROA8.3%
2021: 5.9%5.9%2022: 7.8%7.8%2023: 3.0%3.0%2024: 3.8%3.8%2025: 8.3%8.3%2122232425
Financial leverage1.66×
2021: 1.48×1.48×2022: 1.52×1.52×2023: 1.54×1.54×2024: 1.60×1.60×2025: 1.66×1.66×2122232425
ROE13.8%
2021: 8.8%8.8%2022: 11.8%11.8%2023: 4.5%4.5%2024: 6.1%6.1%2025: 13.8%13.8%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
20218.8%0.68×5.9%1.48×8.8%
202210.9%0.71×7.8%1.52×11.8%
20234.5%0.65×3.0%1.54×4.5%
20246.0%0.65×3.8%1.60×6.1%
202512.0%0.70×8.3%1.66×13.8%

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 ÷ revenue68.4%
2020: 63.8%63.8%2021: 62.7%62.7%2022: 61.3%61.3%2023: 75.1%75.1%2024: 81.7%81.7%2025: 68.4%68.4%202122232425
PPE ÷ total assets45.7%
2020: 45.1%45.1%2021: 42.5%42.5%2022: 41.1%41.1%2023: 49.2%49.2%2024: 50.2%50.2%2025: 45.7%45.7%202122232425
Goodwill ÷ parent equity0.3%
2020: 1.7%1.7%2021: 1.4%1.4%2022: 1.2%1.2%2023: 0.8%0.8%2024: 0.5%0.5%2025: 0.3%0.3%202122232425
Goodwill balance¥64.2M
2020: ¥320.9M¥320.9M2021: ¥269.6M¥269.6M2022: ¥251.6M¥251.6M2023: ¥175.8M¥175.8M2024: ¥115.5M¥115.5M2025: ¥64.2M¥64.2M202122232425

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¥83.4M
2020: ¥142.2M¥142.2M2021: ¥120.3M¥120.3M2022: ¥90.5M¥90.5M2023: ¥71.6M¥71.6M2024: ¥70.3M¥70.3M2025: ¥83.4M¥83.4M202122232425
R&D / revenue0.3%
2020: 0.8%0.8%2021: 0.6%0.6%2022: 0.4%0.4%2023: 0.3%0.3%2024: 0.3%0.3%2025: 0.3%0.3%202122232425
Receivable days—
2020: 56d56d2021: 75d75d202122232425

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 Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue19,63322,17421,24322,04126,025
Cost of revenue12,67214,94615,45815,38817,129
Gross profit6,9617,2285,7856,6538,896
SG&A4,3454,4764,3024,4564,976
Operating income2,6152,7521,4832,1973,919
Pretax income2,7552,8231,5011,9754,556
Income tax1,0263775256621,432
Net income attributable to owners1,7192,4139661,3133,123
Operating margin13.3%12.4%7.0%10.0%15.1%

Balance sheet (reported items)

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

Assets

Cash 20%
Property, plant and equipment 46%
1%
1%
Other assets 32%

Funding

Other liabilities 34%
Equity 66%

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

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥4.59B¥6.23B¥4.02B¥5.11B¥7.87B
Total assets¥29B¥33.1B¥32.5B¥35.9B¥39B
Net assets¥20.5B¥22.6B¥22.4B¥23.4B¥25.7B
Share capital¥1B¥1B¥1B¥1B¥1B
Trade receivables¥4.06B————
Property, plant and equipment¥12.3B¥13.6B¥16B¥18B¥17.8B
Intangible assets excluding goodwill¥795.6M¥738.6M¥583.3M¥441.4M¥313.3M
Goodwill¥269.6M¥251.6M¥175.8M¥115.5M¥64.2M
Investment securities¥264.8M¥309.8M¥360.7M¥431.3M¥533.5M
Current assets¥15.2B¥17.8B¥15B¥16.5B¥19.9B
Current liabilities¥6.87B¥4.8B¥4.16B¥6.28B¥7.48B
Short-term borrowings¥2.3B¥300M¥300M¥2.2B¥1.2B
Long-term borrowings¥191.2M¥4.47B¥4.7B¥5.12B¥4.61B
Total liabilities¥8.52B¥10.5B¥10B¥12.5B¥13.3B
Non-controlling interests¥279.4M¥316.5M———
Equity attributable to owners of parent¥19.6B¥21.4B¥21.2B¥21.6B¥23.7B
Retained earnings¥19.1B¥20.8B¥20.7B¥21B¥23.1B
Treasury stock-¥949.5M-¥929M-¥926.4M-¥925.5M-¥922.8M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第25期(2025/01/01－2025/12/31)

    ID S100XU8H2026-03-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第24期(2024/01/01－2024/12/31)

    ID S100VJ0H2025-03-31Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第23期(2023/01/01－2023/12/31)

    ID S100TKW02024-06-10Open

  • EDINET (FSA Japan)

    有価証券報告書－第22期(2022/01/01－2022/12/31)

    ID S100QHD42023-03-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第21期(令和3年1月1日－令和3年12月31日)

    ID S100NQQJ2022-03-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第20期(令和2年1月1日－令和2年12月31日)

    ID S100L1ML2021-03-26Open

Extracted from XBRL: 52 / Derived from other figures: 1

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