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TomokuTOMOKU CO.,LTD.3946東証プライムパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Tomoku revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +2.0% from the prior year, operating profit +21.6%.

Five-year trend

Revenue¥224.1B
FY ending Mar 2022: ¥206B¥206BFY ending Mar 2023: ¥212.8B¥212.8BFY ending Mar 2024: ¥211.5B¥211.5BFY ending Mar 2025: ¥219.6B¥219.6BFY ending Mar 2026: ¥224.1B¥224.1BFY22FY23FY24FY25FY26
Operating income¥11.4B
FY ending Mar 2022: ¥8.33B¥8.33BFY ending Mar 2023: ¥7.45B¥7.45BFY ending Mar 2024: ¥8.06B¥8.06BFY ending Mar 2025: ¥9.36B¥9.36BFY ending Mar 2026: ¥11.4B¥11.4BFY22FY23FY24FY25FY26
Operating margin5.1%
FY ending Mar 2022: 4.0%4.0%FY ending Mar 2023: 3.5%3.5%FY ending Mar 2024: 3.8%3.8%FY ending Mar 2025: 4.3%4.3%FY ending Mar 2026: 5.1%5.1%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.3%
Asset turnover1.04×
ROA3.4%
ROA3.4%
Financial leverage2.45×
ROE8.4%

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

Net margin3.3%
2022: 2.9%2.9%2023: 2.5%2.5%2024: 2.5%2.5%2025: 3.0%3.0%2026: 3.3%3.3%2223242526
Asset turnover1.04×
2022: 1.08×1.08×2023: 1.10×1.10×2024: 1.04×1.04×2025: 1.05×1.05×2026: 1.04×1.04×2223242526
ROA3.4%
2022: 3.1%3.1%2023: 2.7%2.7%2024: 2.6%2.6%2025: 3.1%3.1%2026: 3.4%3.4%2223242526
Financial leverage2.45×
2022: 2.67×2.67×2023: 2.62×2.62×2024: 2.63×2.63×2025: 2.55×2.55×2026: 2.45×2.45×2223242526
ROE8.4%
2022: 8.4%8.4%2023: 7.1%7.1%2024: 6.8%6.8%2025: 7.9%7.9%2026: 8.4%8.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20222.9%1.08×3.1%2.67×8.4%
20232.5%1.10×2.7%2.62×7.1%
20242.5%1.04×2.6%2.63×6.8%
20253.0%1.05×3.1%2.55×7.9%
20263.3%1.04×3.4%2.45×8.4%

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 ÷ revenue44.2%
2021: 47.5%47.5%2022: 44.1%44.1%2023: 44.4%44.4%2024: 45.5%45.5%2025: 43.4%43.4%2026: 44.2%44.2%212223242526
PPE ÷ total assets44.3%
2021: 46.4%46.4%2022: 47.8%47.8%2023: 48.4%48.4%2024: 45.2%45.2%2025: 46.1%46.1%2026: 44.3%44.3%212223242526
Goodwill ÷ parent equity0.1%
2021: 1.0%1.0%2022: 2.0%2.0%2023: 1.5%1.5%2024: 1.0%1.0%2025: 0.5%0.5%2026: 0.1%0.1%212223242526
Goodwill balance¥62M
2021: ¥678M¥678M2022: ¥1.41B¥1.41B2023: ¥1.14B¥1.14B2024: ¥776M¥776M2025: ¥446M¥446M2026: ¥62M¥62M212223242526

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¥244M
2021: ¥221M¥221M2022: ¥301M¥301M2023: ¥289M¥289M2024: ¥261M¥261M2025: ¥253M¥253M2026: ¥244M¥244M212223242526
R&D / revenue0.1%
2021: 0.1%0.1%2022: 0.1%0.1%2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Receivable days—
2021: 61d61d212223242526
Payable days49d
2021: 51d51d2022: 48d48d2023: 46d46d2024: 49d49d2025: 44d44d2026: 49d49d212223242526

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
Revenue206,007212,817211,526219,613224,090
Cost of revenue172,115179,233176,728182,670183,492
Gross profit33,89133,58334,79736,94240,597
SG&A25,55926,13126,74027,58229,218
Operating income8,3317,4528,0579,36011,378
Pretax income8,9767,8568,7059,51611,220
Income tax2,9252,5563,3322,9403,750
Net income attributable to owners5,9805,2515,3086,5087,361
Operating margin4.0%3.5%3.8%4.3%5.1%

Balance sheet (reported items)

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

Assets

Cash 11%
Property, plant and equipment 44%
0%
7%
Other assets 38%

Funding

Trade payables 11%
Other liabilities 43%
Equity 46%
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¥16.6B¥14.9B¥18B¥20.9B¥23.8B
Total assets¥190B¥195.4B¥213.4B¥206.8B¥223.8B
Net assets¥76.1B¥80.7B¥89.2B¥93.4B¥103B
Share capital¥13.7B¥13.7B¥13.7B¥13.7B¥13.7B
Property, plant and equipment¥90.9B¥94.6B¥96.3B¥95.4B¥99.1B
Intangible assets excluding goodwill¥1.73B¥1.43B¥1.05B¥718M¥364M
Goodwill¥1.41B¥1.14B¥776M¥446M¥62M
Investment securities¥7.86B¥7.63B¥12B¥11B¥15.2B
Current assets¥81.2B¥83.6B¥93.8B¥89.5B¥96.5B
Current liabilities¥49.4B¥67.6B¥66.5B¥53.5B¥65.7B
Trade payables¥22.6B¥22.8B¥23.5B¥22.2B¥24.5B
Short-term borrowings¥9.13B¥8.48B¥13.5B¥10.1B¥12.8B
Long-term borrowings¥54.2B¥37.3B¥47.4B¥50.3B¥44.2B
Total liabilities¥113.9B¥114.7B¥124.2B¥113.5B¥120.9B
Non-controlling interests¥464M¥509M¥579M¥637M¥819M
Equity attributable to owners of parent¥71.3B¥75.6B¥79.9B¥85.1B¥90.6B
Retained earnings¥50.6B¥54.9B¥59.1B¥64.5B¥69.9B
Treasury stock-¥4.21B-¥4.2B-¥4.18B-¥4.15B-¥4.1B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第87期(2025/04/01－2026/03/31)

    ID S100YFA22026-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第86期(2024/04/01－2025/03/31)

    ID S100W0802025-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第85期(2023/04/01－2024/03/31)

    ID S100TPY12024-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第84期(2022/04/01－2023/03/31)

    ID S100R35K2023-06-26Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第83期(令和3年4月1日－令和4年3月31日)

    ID S100OODA2022-07-06Open

  • EDINET (FSA Japan)

    有価証券報告書－第82期(令和2年4月1日－令和3年3月31日)

    ID S100LLOG2021-06-24Open

Extracted from XBRL: 54 / Derived from other figures: 1

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