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Tokyu ConstructionTOKYU CONSTRUCTION CO.,LTD.1720東証プライム建設業FY ending Mar 2026, consolidated, J-GAAP

Tokyu Construction revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +16.4% from the prior year, operating profit +84.5%.

Five-year trend

Revenue¥341.2B
FY ending Mar 2022: ¥258.1B¥258.1BFY ending Mar 2023: ¥288.9B¥288.9BFY ending Mar 2024: ¥285.7B¥285.7BFY ending Mar 2025: ¥293.1B¥293.1BFY ending Mar 2026: ¥341.2B¥341.2BFY22FY23FY24FY25FY26
Operating income¥16.3B
FY ending Mar 2022: -¥6.08B-¥6.08BFY ending Mar 2023: ¥5.11B¥5.11BFY ending Mar 2024: ¥8.15B¥8.15BFY ending Mar 2025: ¥8.84B¥8.84BFY ending Mar 2026: ¥16.3B¥16.3BFY22FY23FY24FY25FY26
Operating margin4.8%
FY ending Mar 2022: -2.4%-2.4%FY ending Mar 2023: 1.8%1.8%FY ending Mar 2024: 2.9%2.9%FY ending Mar 2025: 3.0%3.0%FY ending Mar 2026: 4.8%4.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.9%
Asset turnover1.17×
ROA4.6%
ROA4.6%
Financial leverage2.92×
ROE13.3%

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

Net margin3.9%
2023: 1.8%1.8%2024: 2.5%2.5%2025: 2.3%2.3%2026: 3.9%3.9%2223242526
Asset turnover1.17×
2023: 1.19×1.19×2024: 1.11×1.11×2025: 1.09×1.09×2026: 1.17×1.17×2223242526
ROA4.6%
2022: -3.1%-3.1%2023: 2.2%2.2%2024: 2.8%2.8%2025: 2.5%2.5%2026: 4.6%4.6%2223242526
Financial leverage2.92×
2023: 2.77×2.77×2024: 2.82×2.82×2025: 2.86×2.86×2026: 2.92×2.92×2223242526
ROE13.3%
2023: 6.0%6.0%2024: 8.0%8.0%2025: 7.0%7.0%2026: 13.3%13.3%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
2022——×-3.1%—×—
20231.8%1.19×2.2%2.77×6.0%
20242.5%1.11×2.8%2.82×8.0%
20252.3%1.09×2.5%2.86×7.0%
20263.9%1.17×4.6%2.92×13.3%

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 ÷ revenue6.0%
2021: 14.8%14.8%2022: 11.5%11.5%2023: 9.4%9.4%2024: 7.9%7.9%2025: 8.1%8.1%2026: 6.0%6.0%212223242526
PPE ÷ total assets6.5%
2021: 15.2%15.2%2022: 12.5%12.5%2023: 10.9%10.9%2024: 8.5%8.5%2025: 8.6%8.6%2026: 6.5%6.5%212223242526
Goodwill ÷ parent equity—
2021: 0.4%0.4%2022: 0.4%0.4%2023: 0.4%0.4%2024: 0.3%0.3%212223242526
Goodwill balance—
2021: ¥360M¥360M2022: ¥356M¥356M2023: ¥342M¥342M2024: ¥315M¥315M212223242526

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¥1.39B
2021: ¥1.04B¥1.04B2022: ¥1.31B¥1.31B2023: ¥1.18B¥1.18B2024: ¥1.11B¥1.11B2025: ¥1.24B¥1.24B2026: ¥1.39B¥1.39B212223242526
R&D / revenue0.4%
2021: 0.4%0.4%2022: 0.5%0.5%2023: 0.4%0.4%2024: 0.4%0.4%2025: 0.4%0.4%2026: 0.4%0.4%212223242526

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
Revenue258,083288,867285,681293,139341,181
Cost of revenue248,367266,988259,598264,422303,538
Gross profit9,71621,87926,08228,71637,643
SG&A15,79416,77117,92719,87621,336
Operating income-6,0785,1078,1558,83916,306
Pretax income-4,8647,7119,9589,84019,258
Income tax2,5372,2712,5363,0035,679
Net income attributable to owners-7,4595,2457,2666,63113,390
Operating margin-2.4%1.8%2.9%3.0%4.8%

Balance sheet (reported items)

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

Assets

Cash 16%
6%
1%
Investment securities 9%
Other assets 68%

Funding

Other liabilities 64%
Equity 36%

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¥38.6B¥58.7B¥31.9B¥39.7B¥49.6B
Total assets¥237.8B¥249.2B¥264.5B¥274.3B¥310.8B
Net assets¥93.1B¥96B¥100.8B¥102.7B¥112.7B
Share capital¥16.4B¥16.4B¥16.4B¥16.4B¥16.4B
Property, plant and equipment¥29.7B¥27.2B¥22.5B¥23.6B¥20.3B
Intangible assets excluding goodwill¥1.39B¥1.48B¥1.46B¥1.22B¥1.72B
Goodwill¥356M¥342M¥315M——
Investment securities¥30.2B¥28.8B¥30B¥27.9B¥28.6B
Current assets¥174B¥187.9B¥206.5B¥216.7B¥253.7B
Current liabilities¥115B¥144.7B¥137.4B¥147.3B¥193.6B
Short-term borrowings¥97M¥20.1B¥33.2B¥5.58B¥35.1B
Long-term borrowings¥22.3B¥1.89B¥21.5B¥21.1B¥985M
Total liabilities¥144.7B¥153.1B¥163.7B¥171.6B¥198.2B
Non-controlling interests¥574M¥771M¥823M¥1.03B¥1.23B
Equity attributable to owners of parent¥86.5B¥89.5B¥92.7B¥95.6B¥105.1B
Retained earnings¥67.3B¥70.1B¥73.6B¥76.1B¥85.5B
Treasury stock-¥1.28B-¥1.02B-¥769M-¥492M-¥284M

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第23期(2025/04/01－2026/03/31)

    ID S100YFDZ2026-06-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第22期(2024/04/01－2025/03/31)

    ID S100W0EF2025-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第21期(2023/04/01－2024/03/31)

    ID S100TUHH2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第20期(2022/04/01－2023/03/31)

    ID S100R6UJ2023-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第19期(令和3年4月1日－令和4年3月31日)

    ID S100OFLQ2022-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(令和2年4月1日－令和3年3月31日)

    ID S100LOJH2021-06-25Open

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