United ArrowsUNITED ARROWS LTD.7606東証プライム小売業FY ending Mar 2026, consolidated, J-GAAP

United Arrows revenue and profit

Out of every ¥100 of sales, about ¥5 is left as operating profit. Revenue changed +9.1% from the prior year, operating profit +14.3%.

Five-year trend

Revenue¥164.6B
FY ending Mar 2022: ¥118.4B¥118.4BFY ending Mar 2023: ¥130.1B¥130.1BFY ending Mar 2024: ¥134.3B¥134.3BFY ending Mar 2025: ¥150.9B¥150.9BFY ending Mar 2026: ¥164.6B¥164.6BFY22FY23FY24FY25FY26
Operating income¥9.13B
FY ending Mar 2022: ¥1.68B¥1.68BFY ending Mar 2023: ¥6.36B¥6.36BFY ending Mar 2024: ¥6.74B¥6.74BFY ending Mar 2025: ¥7.98B¥7.98BFY ending Mar 2026: ¥9.13B¥9.13BFY22FY23FY24FY25FY26
Operating margin5.5%
FY ending Mar 2022: 1.4%1.4%FY ending Mar 2023: 4.9%4.9%FY ending Mar 2024: 5.0%5.0%FY ending Mar 2025: 5.3%5.3%FY ending Mar 2026: 5.5%5.5%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin3.7%
Asset turnover2.32×
ROA8.6%
ROA8.6%
Financial leverage1.76×
ROE15.2%

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

Net margin3.7%
2022: 0.6%0.6%2023: 3.3%3.3%2024: 3.6%3.6%2025: 2.8%2.8%2026: 3.7%3.7%2223242526
Asset turnover2.32×
2022: 1.98×1.98×2023: 2.15×2.15×2024: 2.21×2.21×2025: 2.32×2.32×2026: 2.32×2.32×2223242526
ROA8.6%
2022: 1.2%1.2%2023: 7.2%7.2%2024: 8.0%8.0%2025: 6.6%6.6%2026: 8.6%8.6%2223242526
Financial leverage1.76×
2022: 1.98×1.98×2023: 1.89×1.89×2024: 1.75×1.75×2025: 1.77×1.77×2026: 1.76×1.76×2223242526
ROE15.2%
2022: 2.4%2.4%2023: 13.5%13.5%2024: 14.1%14.1%2025: 11.7%11.7%2026: 15.2%15.2%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20220.6%1.98×1.2%1.98×2.4%
20233.3%2.15×7.2%1.89×13.5%
20243.6%2.21×8.0%1.75×14.1%
20252.8%2.32×6.6%1.77×11.7%
20263.7%2.32×8.6%1.76×15.2%

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 ÷ revenue6.6%
2021: 5.6%5.6%2022: 4.4%4.4%2023: 3.8%3.8%2024: 3.7%3.7%2025: 5.4%5.4%2026: 6.6%6.6%212223242526
PPE ÷ total assets15.3%
2021: 10.7%10.7%2022: 8.8%8.8%2023: 8.1%8.1%2024: 8.3%8.3%2025: 11.7%11.7%2026: 15.3%15.3%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.

Receivable days—
2021: 0d0d2022: 1d1d2023: 0d0d2024: 0d0d2025: 0d0d212223242526
Payable days—
2021: 43d43d2022: 55d55d2023: 56d56d2024: 60d60d2025: 59d59d212223242526

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
Revenue118,384130,135134,269150,910164,603
Cost of revenue59,29362,95664,80772,28178,373
Gross profit59,09067,17869,46278,62986,230
SG&A57,40760,81662,72270,64577,103
Operating income1,6836,3626,7407,9849,126
Pretax income1,7596,5487,1557,0827,339
Income tax1,0262,2062,2782,8001,226
Net income attributable to owners7324,3414,8764,2826,112
Operating margin1.4%4.9%5.0%5.3%5.5%

Balance sheet (reported items)

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

Assets

5%
Property, plant and equipment 15%
7%
Other assets 73%

Funding

Other liabilities 41%
Equity 59%
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¥5.59B¥8.56B¥6.49B¥6.66B¥3.44B
Total assets¥59.7B¥61.2B¥60.2B¥70.1B¥71.5B
Net assets¥30.1B¥33.7B¥35B¥37.8B¥42.1B
Share capital¥3.03B¥3.03B¥3.03B¥3.03B¥3.03B
Trade receivables¥184M¥109M¥117M¥185M—
Property, plant and equipment¥5.23B¥4.97B¥5.01B¥8.21B¥10.9B
Intangible assets excluding goodwill¥1.36B¥1.68B¥3.21B¥5.8B¥4.91B
Current assets¥38.5B¥41.6B¥40.4B¥44.8B¥44.3B
Current liabilities¥25.4B¥23.5B¥21B¥27.8B¥25B
Trade payables¥8.86B¥9.73B¥10.6B¥11.6B—
Short-term borrowings¥7.8B¥2.5B¥202M¥1.03B¥1.9B
Total liabilities¥29.6B¥27.5B¥25.2B¥32.3B¥29.4B
Equity attributable to owners of parent¥30.2B¥33.9B¥35.3B¥38.1B¥42.4B
Retained earnings¥27.8B¥31.4B¥34.8B¥37.6B¥41.9B
Treasury stock-¥5.01B-¥5.01B-¥7.07B-¥7.04B-¥7.01B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第37期(2025/04/01-2026/03/31)

    ID S100YEY52026-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第36期(2024/04/01-2025/03/31)

    ID S100W3GR2025-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第35期(2023/04/01-2024/03/31)

    ID S100TVSH2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第34期(2022/04/01-2023/03/31)

    ID S100R5KH2023-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第33期(令和3年4月1日-令和4年3月31日)

    ID S100OIQA2022-06-28Open
  • EDINET (FSA Japan)

    有価証券報告書-第32期(令和2年4月1日-令和3年3月31日)

    ID S100LU2Z2021-06-29Open

Extracted from XBRL: 46 / Derived from other figures: 1

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