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TotoTOTO LTD.5332東証プライムガラス・土石製品FY ending Mar 2026, consolidated, J-GAAP

Toto revenue and profit

Out of every ¥100 of sales, about ¥7 is left as operating profit. Revenue changed +1.8% from the prior year, operating profit +10.9%.

Five-year trend

Revenue¥737.4B
FY ending Mar 2022: ¥645.3B¥645.3BFY ending Mar 2023: ¥701.2B¥701.2BFY ending Mar 2024: ¥702.3B¥702.3BFY ending Mar 2025: ¥724.5B¥724.5BFY ending Mar 2026: ¥737.4B¥737.4BFY22FY23FY24FY25FY26
Operating income¥53.8B
FY ending Mar 2022: ¥52.2B¥52.2BFY ending Mar 2023: ¥49.1B¥49.1BFY ending Mar 2024: ¥42.8B¥42.8BFY ending Mar 2025: ¥48.5B¥48.5BFY ending Mar 2026: ¥53.8B¥53.8BFY22FY23FY24FY25FY26
Operating margin7.3%
FY ending Mar 2022: 8.1%8.1%FY ending Mar 2023: 7.0%7.0%FY ending Mar 2024: 6.1%6.1%FY ending Mar 2025: 6.7%6.7%FY ending Mar 2026: 7.3%7.3%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin5.5%
Asset turnover0.90×
ROA4.9%
ROA4.9%
Financial leverage1.98×
ROE9.7%

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

Net margin5.5%
2022: 6.2%6.2%2023: 5.6%5.6%2024: 5.3%5.3%2025: 1.7%1.7%2026: 5.5%5.5%2223242526
Asset turnover0.90×
2022: 1.01×1.01×2023: 1.02×1.02×2024: 0.92×0.92×2025: 0.90×0.90×2026: 0.90×0.90×2223242526
ROA4.9%
2022: 6.3%6.3%2023: 5.7%5.7%2024: 4.9%4.9%2025: 1.5%1.5%2026: 4.9%4.9%2223242526
Financial leverage1.98×
2022: 1.71×1.71×2023: 1.78×1.78×2024: 1.87×1.87×2025: 1.94×1.94×2026: 1.98×1.98×2223242526
ROE9.7%
2022: 10.7%10.7%2023: 10.1%10.1%2024: 9.2%9.2%2025: 2.9%2.9%2026: 9.7%9.7%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20226.2%1.01×6.3%1.71×10.7%
20235.6%1.02×5.7%1.78×10.1%
20245.3%0.92×4.9%1.87×9.2%
20251.7%0.90×1.5%1.94×2.9%
20265.5%0.90×4.9%1.98×9.7%

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 ÷ revenue36.3%
2021: 37.9%37.9%2022: 35.9%35.9%2023: 34.6%34.6%2024: 38.3%38.3%2025: 36.1%36.1%2026: 36.3%36.3%212223242526
PPE ÷ total assets32.4%
2021: 33.9%33.9%2022: 36.2%36.2%2023: 33.1%33.1%2024: 34.0%34.0%2025: 32.1%32.1%2026: 32.4%32.4%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¥26.3B
2021: ¥22.4B¥22.4B2022: ¥24B¥24B2023: ¥21.5B¥21.5B2024: ¥23.1B¥23.1B2025: ¥25.1B¥25.1B2026: ¥26.3B¥26.3B212223242526
R&D / revenue3.6%
2021: 3.9%3.9%2022: 3.7%3.7%2023: 3.1%3.1%2024: 3.3%3.3%2025: 3.5%3.5%2026: 3.6%3.6%212223242526
Receivable days—
2021: 58d58d212223242526
Payable days62d
2021: 69d69d2022: 70d70d2023: 68d68d2024: 60d60d2025: 64d64d2026: 62d62d212223242526

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
Revenue645,273701,187702,284724,454737,441
Cost of revenue408,382458,217463,284470,386474,861
Gross profit236,890242,969238,999254,068262,579
SG&A184,710193,848196,233205,588208,820
Operating income52,18049,12142,76648,47953,759
Pretax income57,86759,97554,20624,33158,661
Income tax17,19218,89316,35511,80720,435
Net income attributable to owners40,13138,94337,19612,16840,257
Operating margin8.1%7.0%6.1%6.7%7.3%

Balance sheet (reported items)

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

Assets

Cash 16%
Property, plant and equipment 32%
5%
8%
Other assets 39%

Funding

Trade payables 10%
Other liabilities 26%
Equity 64%
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¥89.6B¥97.5B¥102.6B¥120.7B¥131.2B
Total assets¥641B¥731.6B¥790.3B¥813.9B¥827.5B
Net assets¥413.4B¥461.1B¥510.6B¥530.4B¥533.9B
Share capital¥35.6B¥35.6B¥35.6B¥35.6B¥35.6B
Property, plant and equipment¥231.8B¥242.5B¥268.6B¥261.4B¥267.9B
Intangible assets excluding goodwill¥24B¥29.5B¥33.4B¥36.5B¥39B
Investment securities¥54.4B¥60.9B¥81.2B¥67.5B¥63.4B
Current assets¥307.6B¥359.3B¥354B¥374.6B¥372.1B
Current liabilities¥199.5B¥228.8B¥224.2B¥230.8B¥238.4B
Trade payables¥78.5B¥85B¥76.7B¥82.6B¥80.7B
Short-term borrowings¥23.7B¥23.1B¥23.2B¥23.7B¥23.3B
Long-term borrowings¥1.12B¥1.58B¥1.47B¥1.02B¥1.31B
Total liabilities¥227.7B¥270.5B¥279.7B¥283.5B¥293.6B
Non-controlling interests¥7.64B¥7.29B¥7.84B¥8.13B¥5.69B
Equity attributable to owners of parent¥374.1B¥396.3B¥416.6B¥411.9B¥415.6B
Retained earnings¥323B¥345B¥365.2B¥360.4B¥356B
Treasury stock-¥13.8B-¥13.7B-¥13.7B-¥13.6B-¥5.17B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第160期(2025/04/01－2026/03/31)

    ID S100YC722026-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第159期(2024/04/01－2025/03/31)

    ID S100W0X92025-06-20Open

  • EDINET (FSA Japan)

    有価証券報告書－第158期(2023/04/01－2024/03/31)

    ID S100TRCX2024-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第157期(2022/04/01－2023/03/31)

    ID S100R4UY2023-06-27Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第156期(令和3年4月1日－令和4年3月31日)

    ID S100ONXC2022-07-05Open

  • EDINET (FSA Japan)

    有価証券報告書－第155期(令和2年4月1日－令和3年3月31日)

    ID S100LQEI2021-06-25Open

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

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