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Tsurumi ManufacturingTSURUMI MANUFACTURING CO.,LTD.6351東証プライム機械FY ending Mar 2026, consolidated, J-GAAP

Tsurumi Manufacturing revenue and profit

Out of every ¥100 of sales, about ¥14 is left as operating profit. Revenue changed +13.5% from the prior year, operating profit +4.5%.

Five-year trend

Revenue¥77.2B
FY ending Mar 2022: ¥51.2B¥51.2BFY ending Mar 2023: ¥56.2B¥56.2BFY ending Mar 2024: ¥62.6B¥62.6BFY ending Mar 2025: ¥68.1B¥68.1BFY ending Mar 2026: ¥77.2B¥77.2BFY22FY23FY24FY25FY26
Operating income¥10.7B
FY ending Mar 2022: ¥5.51B¥5.51BFY ending Mar 2023: ¥7.26B¥7.26BFY ending Mar 2024: ¥8.94B¥8.94BFY ending Mar 2025: ¥10.3B¥10.3BFY ending Mar 2026: ¥10.7B¥10.7BFY22FY23FY24FY25FY26
Operating margin13.9%
FY ending Mar 2022: 10.8%10.8%FY ending Mar 2023: 12.9%12.9%FY ending Mar 2024: 14.3%14.3%FY ending Mar 2025: 15.1%15.1%FY ending Mar 2026: 13.9%13.9%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin6.7%
Asset turnover0.57×
ROA3.8%
ROA3.8%
Financial leverage1.56×
ROE6.0%

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

Net margin6.7%
2022: 9.4%9.4%2023: 11.1%11.1%2024: 13.2%13.2%2025: 12.9%12.9%2026: 6.7%6.7%2223242526
Asset turnover0.57×
2022: 0.59×0.59×2023: 0.60×0.60×2024: 0.58×0.58×2025: 0.55×0.55×2026: 0.57×0.57×2223242526
ROA3.8%
2022: 5.5%5.5%2023: 6.7%6.7%2024: 7.7%7.7%2025: 7.1%7.1%2026: 3.8%3.8%2223242526
Financial leverage1.56×
2022: 1.31×1.31×2023: 1.35×1.35×2024: 1.43×1.43×2025: 1.50×1.50×2026: 1.56×1.56×2223242526
ROE6.0%
2022: 7.2%7.2%2023: 9.1%9.1%2024: 11.0%11.0%2025: 10.7%10.7%2026: 6.0%6.0%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20229.4%0.59×5.5%1.31×7.2%
202311.1%0.60×6.7%1.35×9.1%
202413.2%0.58×7.7%1.43×11.0%
202512.9%0.55×7.1%1.50×10.7%
20266.7%0.57×3.8%1.56×6.0%

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: 31.8%31.8%2022: 31.0%31.0%2023: 31.3%31.3%2024: 34.0%34.0%2025: 41.0%41.0%2026: 36.3%36.3%212223242526
PPE ÷ total assets20.3%
2021: 17.7%17.7%2022: 18.2%18.2%2023: 17.8%17.8%2024: 18.5%18.5%2025: 21.2%21.2%2026: 20.3%20.3%212223242526
Goodwill ÷ parent equity0.0%
2024: 0.1%0.1%2025: 3.7%3.7%2026: 0.0%0.0%212223242526
Goodwill balance¥33M
2024: ¥100M¥100M2025: ¥3.18B¥3.18B2026: ¥33M¥33M212223242526

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¥543M
2021: ¥455M¥455M2022: ¥427M¥427M2023: ¥460M¥460M2024: ¥501M¥501M2025: ¥488M¥488M2026: ¥543M¥543M212223242526
R&D / revenue0.7%
2021: 1.0%1.0%2022: 0.8%0.8%2023: 0.8%0.8%2024: 0.8%0.8%2025: 0.7%0.7%2026: 0.7%0.7%212223242526
Receivable days—
2021: 149d149d212223242526
Payable days56d
2021: 79d79d2022: 76d76d2023: 68d68d2024: 57d57d2025: 74d74d2026: 56d56d212223242526

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
Revenue51,21456,21962,62968,05877,227
Cost of revenue34,54336,12940,16241,90548,111
Gross profit16,67120,08922,46626,15229,115
SG&A11,16212,82513,52515,90118,399
Operating income5,5087,2638,94110,25110,715
Pretax income7,3688,90412,15312,1129,081
Income tax2,5012,4763,5863,1833,690
Net income attributable to owners4,8176,2628,2888,7835,160
Operating margin10.8%12.9%14.3%15.1%13.9%

Balance sheet (reported items)

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

Assets

Cash 23%
Property, plant and equipment 20%
2%
Investment securities 11%
Other assets 44%

Funding

5%
Other liabilities 20%
Equity 75%

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¥14.3B¥19.4B¥26.8B¥28.1B¥32.2B
Total assets¥87.3B¥99B¥115.4B¥131.5B¥138.3B
Net assets¥71.8B¥78.2B¥90.2B¥95.9B¥103.6B
Share capital¥5.19B¥5.19B¥5.19B¥5.19B¥5.19B
Property, plant and equipment¥15.9B¥17.6B¥21.3B¥27.9B¥28B
Intangible assets excluding goodwill¥1.48B¥1.97B¥2.08B¥6.07B¥1.96B
Goodwill——¥100M¥3.18B¥33M
Investment securities¥13.9B¥14.8B¥16.7B¥12.7B¥15.8B
Current assets¥52.9B¥61.9B¥73B¥81.7B¥87.8B
Current liabilities¥12.7B¥13.2B¥15.1B¥25.8B¥23.5B
Trade payables¥7.17B¥6.73B¥6.27B¥8.48B¥7.44B
Short-term borrowings———¥6.7B¥6.9B
Long-term borrowings¥2.1B¥7.1B¥8.89B¥7.28B¥7.94B
Total liabilities¥15.5B¥20.8B¥25.2B¥35.7B¥34.7B
Non-controlling interests¥1.01B¥1.27B¥1.39B¥1.45B¥1.53B
Equity attributable to owners of parent¥66.6B¥71.3B¥79B¥85.1B¥88.1B
Retained earnings¥56B¥61.2B¥68.5B¥76B¥77.3B
Treasury stock-¥2.32B-¥3.12B-¥2.99B-¥4.42B-¥2.4B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第75期(2025/04/01－2026/03/31)

    ID S100YKE52026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第74期(2024/04/01－2025/03/31)

    ID S100W6PA2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第73期(2023/04/01－2024/03/31)

    ID S100TUTZ2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第72期(2022/04/01－2023/03/31)

    ID S100R6EI2023-06-28Open

  • EDINET (FSA Japan)

    有価証券報告書－第71期(令和3年4月1日－令和4年3月31日)

    ID S100OGEC2022-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第70期(令和2年4月1日－令和3年3月31日)

    ID S100LRR02021-06-28Open

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

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