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Yamato KogyoYAMATO KOGYO CO.,LTD.5444東証プライム鉄鋼FY ending Mar 2026, consolidated, J-GAAP

Yamato Kogyo revenue and profit

Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed -4.7% from the prior year, operating profit -60.9%.

Five-year trend

Revenue¥160.4B
FY ending Mar 2022: ¥150B¥150BFY ending Mar 2023: ¥180.4B¥180.4BFY ending Mar 2024: ¥163.5B¥163.5BFY ending Mar 2025: ¥168.3B¥168.3BFY ending Mar 2026: ¥160.4B¥160.4BFY22FY23FY24FY25FY26
Operating income¥4.5B
FY ending Mar 2022: ¥13.3B¥13.3BFY ending Mar 2023: ¥16.8B¥16.8BFY ending Mar 2024: ¥17.3B¥17.3BFY ending Mar 2025: ¥11.5B¥11.5BFY ending Mar 2026: ¥4.5B¥4.5BFY22FY23FY24FY25FY26
Operating margin2.8%
FY ending Mar 2022: 8.9%8.9%FY ending Mar 2023: 9.3%9.3%FY ending Mar 2024: 10.6%10.6%FY ending Mar 2025: 6.8%6.8%FY ending Mar 2026: 2.8%2.8%FY22FY23FY24FY25FY26

What drives ROE

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

Net margin38.9%
Asset turnover0.25×
ROA9.7%
ROA9.7%
Financial leverage1.51×
ROE14.6%

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

Net margin38.9%
2022: 26.6%26.6%2023: 36.2%36.2%2024: 42.8%42.8%2025: 18.9%18.9%2026: 38.9%38.9%2223242526
Asset turnover0.25×
2022: 0.36×0.36×2023: 0.39×0.39×2024: 0.29×0.29×2025: 0.27×0.27×2026: 0.25×0.25×2223242526
ROA9.7%
2022: 9.6%9.6%2023: 14.0%14.0%2024: 12.5%12.5%2025: 5.0%5.0%2026: 9.7%9.7%2223242526
Financial leverage1.51×
2022: 1.27×1.27×2023: 1.32×1.32×2024: 1.40×1.40×2025: 1.49×1.49×2026: 1.51×1.51×2223242526
ROE14.6%
2022: 12.2%12.2%2023: 18.5%18.5%2024: 17.4%17.4%2025: 7.5%7.5%2026: 14.6%14.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202226.6%0.36×9.6%1.27×12.2%
202336.2%0.39×14.0%1.32×18.5%
202442.8%0.29×12.5%1.40×17.4%
202518.9%0.27×5.0%1.49×7.5%
202638.9%0.25×9.7%1.51×14.6%

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 ÷ revenue72.3%
2021: 45.7%45.7%2022: 39.8%39.8%2023: 35.1%35.1%2024: 41.9%41.9%2025: 68.4%68.4%2026: 72.3%72.3%212223242526
PPE ÷ total assets18.3%
2021: 17.3%17.3%2022: 14.4%14.4%2023: 12.3%12.3%2024: 11.2%11.2%2025: 17.5%17.5%2026: 18.3%18.3%212223242526
Goodwill ÷ parent equity2.8%
2021: 0.3%0.3%2022: 0.2%0.2%2023: 0.2%0.2%2024: 0.1%0.1%2025: 3.3%3.3%2026: 2.8%2.8%212223242526
Goodwill balance¥12.2B
2021: ¥912M¥912M2022: ¥810M¥810M2023: ¥707M¥707M2024: ¥605M¥605M2025: ¥13.9B¥13.9B2026: ¥12.2B¥12.2B212223242526

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¥123M
2021: ¥42M¥42M2022: ¥31M¥31M2023: ¥64M¥64M2024: ¥45M¥45M2025: ¥132M¥132M2026: ¥123M¥123M212223242526
R&D / revenue0.1%
2021: 0.0%0.0%2022: 0.0%0.0%2023: 0.0%0.0%2024: 0.0%0.0%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Receivable days—
2021: 47d47d212223242526
Payable days24d
2021: 24d24d2022: 33d33d2023: 26d26d2024: 30d30d2025: 27d27d2026: 24d24d212223242526

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
Revenue150,029180,438163,479168,268160,389
Cost of revenue123,788148,755131,678138,740138,074
Gross profit26,24131,68231,80029,52722,315
SG&A12,95014,86914,51718,03317,819
Operating income13,29016,81317,28211,4934,495
Pretax income57,37389,23596,52953,88380,490
Income tax13,65921,03024,40519,89216,560
Net income attributable to owners39,91765,31770,01831,83362,389
Operating margin8.9%9.3%10.6%6.8%2.8%

Balance sheet (reported items)

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

Assets

Cash 12%
Property, plant and equipment 18%
5%
7%
Other assets 58%

Funding

1%
7%
Equity 92%
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¥95.5B¥133.9B¥168.7B¥124B¥75.5B
Total assets¥414.9B¥515B¥608.8B¥657.5B¥633.5B
Net assets¥375.7B¥470.2B¥554.9B¥602.9B¥581.4B
Share capital¥8B¥8B¥8B¥8B¥8B
Property, plant and equipment¥59.8B¥63.4B¥68.5B¥115.1B¥115.9B
Intangible assets excluding goodwill¥1.63B¥1.84B¥1.91B¥17.7B¥15.9B
Goodwill¥810M¥707M¥605M¥13.9B¥12.2B
Investment securities¥56.3B¥73.2B¥91.4B¥74.4B¥46.9B
Current assets¥167.7B¥238.2B¥311.4B¥310.1B¥310.1B
Current liabilities¥19.4B¥21.5B¥25.3B¥25.3B¥22.4B
Trade payables¥11B¥10.6B¥10.9B¥10.2B¥9.1B
Long-term borrowings———¥782M—
Total liabilities¥39.2B¥44.8B¥53.8B¥54.5B¥52.1B
Non-controlling interests¥25.3B¥29.6B¥32.1B¥45.4B¥39.7B
Equity attributable to owners of parent¥327.4B¥376.9B¥427.9B¥420.4B¥432.6B
Retained earnings¥320.8B¥370.2B¥421.2B¥424.5B¥438.5B
Treasury stock-¥1.41B-¥1.38B-¥1.35B-¥12.3B-¥14.1B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第107期(2025/04/01－2026/03/31)

    ID S100YGVD2026-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第106期(2024/04/01－2025/03/31)

    ID S100W82O2025-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第105期(2023/04/01－2024/03/31)

    ID S100TS6N2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第104期(2022/04/01－2023/03/31)

    ID S100RA602023-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第103期(令和3年4月1日－令和4年3月31日)

    ID S100OJXF2022-06-30Open

  • EDINET (FSA Japan)

    有価証券報告書－第102期(令和2年4月1日－令和3年3月31日)

    ID S100LUWX2021-06-30Open

Extracted from XBRL: 52 / Derived from other figures: 1

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