TokyotokeibaTOKYOTOKEIBA CO.,LTD.9672東証プライムサービス業FY ending Dec 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥37 is left as operating profit. Revenue changed +3.3% from the prior year, operating profit +10.7%.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | 28.6% | 0.29× | 8.2% | 1.52× | 12.5% |
| 2022 | 26.5% | 0.30× | 8.0% | 1.54× | 12.3% |
| 2023 | 22.5% | 0.31× | 7.0% | 1.44× | 10.2% |
| 2024 | 24.0% | 0.34× | 8.1% | 1.35× | 11.0% |
| 2025 | 25.1% | 0.34× | 8.4% | 1.35× | 11.4% |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 31,801 | 35,450 | 37,545 | 40,444 | 41,759 |
| Cost of revenue | 17,295 | 19,493 | 22,128 | 24,356 | 24,082 |
| Gross profit | 14,505 | 15,957 | 15,417 | 16,088 | 17,677 |
| SG&A | 1,702 | 1,793 | 2,055 | 2,162 | 2,263 |
| Operating income | 12,803 | 14,164 | 13,363 | 13,926 | 15,414 |
| Pretax income | 13,111 | 13,354 | 12,150 | 14,086 | 15,111 |
| Income tax | 4,027 | 3,968 | 3,733 | 4,337 | 4,622 |
| Net income attributable to owners | 9,084 | 9,386 | 8,452 | 9,706 | 10,462 |
| Operating margin | 40.3% | 40.0% | 35.6% | 34.4% | 36.9% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥20.9B | ¥18B | ¥13.8B | ¥15.9B | ¥14.2B |
| Total assets | ¥110.1B | ¥124.6B | ¥115.8B | ¥122.4B | ¥125.8B |
| Net assets | ¥72.8B | ¥80.3B | ¥86.8B | ¥91.1B | ¥94.9B |
| Share capital | ¥10.6B | ¥10.6B | ¥10.6B | ¥10.6B | ¥10.6B |
| Property, plant and equipment | ¥72.5B | ¥76.3B | ¥83.2B | ¥87B | ¥88.5B |
| Intangible assets excluding goodwill | ¥2.8B | ¥6.33B | ¥5.7B | ¥6.25B | ¥4.85B |
| Investment securities | ¥1.96B | ¥1.62B | ¥1.81B | ¥2.26B | ¥2.67B |
| Current assets | ¥30.5B | ¥37.5B | ¥21.8B | ¥23.9B | ¥27.2B |
| Current liabilities | ¥8.42B | ¥26.5B | ¥7.91B | ¥9.7B | ¥20.9B |
| Short-term borrowings | ¥21.5M | ¥41.2M | ¥41.2M | ¥16.6M | ¥16.6M |
| Long-term borrowings | ¥5B | ¥4B | ¥7.25B | ¥7.45B | ¥5.75B |
| Bonds | ¥20B | ¥10B | ¥10B | ¥10B | — |
| Interest-bearing debt | ¥25Bderived | ¥14Bderived | ¥17.3Bderived | ¥17.5Bderived | — |
| Total liabilities | ¥37.3B | ¥44.4B | ¥29B | ¥31.3B | ¥30.9B |
| Non-controlling interests | — | — | ¥71.7M | ¥114M | ¥141.2M |
| Equity attributable to owners of parent | ¥72.5B | ¥80.1B | ¥86.4B | ¥90.4B | ¥93.9B |
| Retained earnings | ¥60.5B | ¥68.1B | ¥74.5B | ¥81.5B | ¥88.8B |
| Treasury stock | -¥5.49B | -¥5.5B | -¥5.52B | -¥8.5B | -¥12.4B |
EDINET (FSA Japan)
有価証券報告書－第102期(2025/01/01－2025/12/31)
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EDINET (FSA Japan)
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Extracted from XBRL: 51 / Derived from other figures: 1
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