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Toho Chemical IndustryTOHO CHEMICAL INDUSTRY COMPANY,LIMITED4409東証スタンダード化学FY ending Mar 2026, consolidated, J-GAAP

Toho Chemical Industry revenue and profit

Out of every ¥100 of sales, about ¥4 is left as operating profit. Revenue changed +0.0% from the prior year, operating profit +15.0%.

Five-year trend

Revenue¥53.6B
FY ending Mar 2022: ¥49.9B¥49.9BFY ending Mar 2023: ¥55.4B¥55.4BFY ending Mar 2024: ¥50.6B¥50.6BFY ending Mar 2025: ¥53.6B¥53.6BFY ending Mar 2026: ¥53.6B¥53.6BFY22FY23FY24FY25FY26
Operating income¥2.09B
FY ending Mar 2022: ¥1.34B¥1.34BFY ending Mar 2023: ¥1.38B¥1.38BFY ending Mar 2024: ¥771M¥771MFY ending Mar 2025: ¥1.81B¥1.81BFY ending Mar 2026: ¥2.09B¥2.09BFY22FY23FY24FY25FY26
Operating margin3.9%
FY ending Mar 2022: 2.7%2.7%FY ending Mar 2023: 2.5%2.5%FY ending Mar 2024: 1.5%1.5%FY ending Mar 2025: 3.4%3.4%FY ending Mar 2026: 3.9%3.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin2.8%
Asset turnover0.77×
ROA2.2%
ROA2.2%
Financial leverage4.22×
ROE9.3%

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

Net margin2.8%
2022: 2.8%2.8%2023: 1.8%1.8%2024: 1.1%1.1%2025: 2.9%2.9%2026: 2.8%2.8%2223242526
Asset turnover0.77×
2022: 0.75×0.75×2023: 0.82×0.82×2024: 0.73×0.73×2025: 0.78×0.78×2026: 0.77×0.77×2223242526
ROA2.2%
2022: 2.1%2.1%2023: 1.5%1.5%2024: 0.8%0.8%2025: 2.2%2.2%2026: 2.2%2.2%2223242526
Financial leverage4.22×
2022: 4.76×4.76×2023: 4.73×4.73×2024: 4.73×4.73×2025: 4.51×4.51×2026: 4.22×4.22×2223242526
ROE9.3%
2022: 10.0%10.0%2023: 6.9%6.9%2024: 3.7%3.7%2025: 10.1%10.1%2026: 9.3%9.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.8%0.75×2.1%4.76×10.0%
20231.8%0.82×1.5%4.73×6.9%
20241.1%0.73×0.8%4.73×3.7%
20252.9%0.78×2.2%4.51×10.1%
20262.8%0.77×2.2%4.22×9.3%

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 ÷ revenue49.5%
2021: 52.4%52.4%2022: 49.5%49.5%2023: 43.7%43.7%2024: 48.1%48.1%2025: 45.6%45.6%2026: 49.5%49.5%212223242526
PPE ÷ total assets37.5%
2021: 36.4%36.4%2022: 37.2%37.2%2023: 35.6%35.6%2024: 34.8%34.8%2025: 36.0%36.0%2026: 37.5%37.5%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¥1.89B
2021: ¥1.62B¥1.62B2022: ¥1.73B¥1.73B2023: ¥1.78B¥1.78B2024: ¥1.85B¥1.85B2025: ¥1.89B¥1.89B2026: ¥1.89B¥1.89B212223242526
R&D / revenue3.5%
2021: 4.0%4.0%2022: 3.5%3.5%2023: 3.2%3.2%2024: 3.7%3.7%2025: 3.5%3.5%2026: 3.5%3.5%212223242526
Receivable days—
2021: 98d98d212223242526
Payable days66d
2021: 81d81d2022: 78d78d2023: 76d76d2024: 78d78d2025: 67d67d2026: 66d66d212223242526

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
Revenue49,88755,36150,59653,61353,625
Cost of revenue42,65648,06843,76045,43845,039
Gross profit7,2307,2936,8368,1748,585
SG&A5,8855,9086,0656,3596,497
Operating income1,3451,3847711,8152,088
Pretax income1,7661,1907221,9722,076
Income tax359222178425550
Net income attributable to owners1,3959775461,5431,527
Operating margin2.7%2.5%1.5%3.4%3.9%

Balance sheet (reported items)

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

Assets

7%
Property, plant and equipment 37%
2%
Investment securities 9%
Other assets 45%

Funding

Trade payables 12%
Interest-bearing debt 38%
Other liabilities 16%
Equity 34%
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¥7.31B¥5.88B¥6.56B¥5.7B¥5.15B
Total assets¥66.5B¥68B¥69.9B¥67.9B¥70.8B
Net assets¥16.9B¥17.8B¥19.2B¥21.1B¥24.1B
Share capital¥1.75B¥1.75B¥1.75B¥1.75B¥1.75B
Property, plant and equipment¥24.7B¥24.2B¥24.3B¥24.5B¥26.6B
Intangible assets excluding goodwill¥1.32B¥1.23B¥1.16B¥1.06B¥1.07B
Investment securities¥4.03B¥3.76B¥4.83B¥3.73B¥6.42B
Current assets¥34.9B¥37B¥38.1B¥36.9B¥35.9B
Current liabilities¥25.6B¥25.6B¥25.3B¥23.8B¥23.4B
Trade payables¥9.11B¥9.96B¥9.32B¥8.35B¥8.12B
Short-term borrowings¥8.69B¥10.6B¥10.6B¥10.3B¥10.9B
Long-term borrowings¥14.8B¥15.3B¥15.6B¥14.8B¥15.3B
Bonds¥1.9B¥2B¥1.7B¥900M¥900M
Interest-bearing debt¥25.3Bderived¥27.9Bderived¥27.9Bderived¥26Bderived¥27.1Bderived
Total liabilities¥49.6B¥50.2B¥50.8B¥46.8B¥46.7B
Non-controlling interests¥91M¥77M¥77M¥87M¥87M
Equity attributable to owners of parent¥14B¥14.5B¥14.7B¥15.9B¥17B
Retained earnings¥11.3B¥12B¥12.2B¥13.4B¥14.5B
Treasury stock-¥6M-¥163M-¥163M-¥163M-¥163M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第89期(2025/04/01－2026/03/31)

    ID S100YGU82026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第88期(2024/04/01－2025/03/31)

    ID S100W3CH2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第87期(2023/04/01－2024/03/31)

    ID S100TSO22024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第86期(2022/04/01－2023/03/31)

    ID S100R4LB2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第85期(令和3年4月1日－令和4年3月31日)

    ID S100OC7S2022-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(令和2年4月1日－令和3年3月31日)

    ID S100LL2R2021-06-24Open

Extracted from XBRL: 53 / Derived from other figures: 2

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