Income Statement Kyowa Corporation

Stocks

6570

JP3254830007

Leisure & Recreation

Market Closed - Japan Exchange 07:30:00 18/09/2026 BST			5-day change	1st Jan Change
3,500.00 ^JPY	+2.49%		-2.37%	+191.42%

11-11	Kyowa Corporation agreed to acquire DORAKU Co., Ltd. from Kosae Nishimura and Keisuke Yoshimura.	CI
05/06/24	Kyowa Kirin Repurchases 3.3 Million Shares in May	MT

fd.ISpi8zbUBJueRCtqEG5ULTPMRtczrp9TMZ3MEHAnDL8.a0kOykesKfroLQYJQwtjR0S6LrFGxd4bcMKdIQplbvRRGwyQbuxI6ugLXA

Published financial data: KYOWA CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Revenues	10.38B	12.44B	14.58B	16.7B	20.73B
Total Revenues	10.38B	12.44B	14.58B	16.7B	20.73B
Cost of Goods Sold, Total	4.61B	5.58B	6.9B	7.84B	10B
Gross Profit	5.78B	6.87B	7.68B	8.87B	10.73B
Selling General & Admin Expenses, Total	5.34B	5.98B	6.39B	7.3B	8.56B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	163M	170M	206M	267M	412M
Other Operating Expenses, Total	5.5B	6.15B	6.6B	7.57B	8.98B
Operating Income	274M	717M	1.08B	1.3B	1.76B
Interest Expense, Total	-26M	-26M	-25M	-33M	-53M
Interest And Investment Income	3M	4M	3M	7M	13M
Net Interest Expenses	-23M	-22M	-22M	-26M	-40M
Other Non Operating Income (Expenses)	32M	16M	49M	19M	23M
EBT, Excl. Unusual Items	283M	711M	1.11B	1.29B	1.74B
Gain (Loss) On Sale Of Investments	-	-18M	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-4M
Asset Writedown	-57M	-	-57M	-117M	-5M
Other Unusual Items	-12M	-1M	-	-	-
EBT, Incl. Unusual Items	214M	692M	1.05B	1.17B	1.73B
Income Tax Expense	86M	260M	407M	254M	609M
Earnings From Continuing Operations	128M	432M	646M	917M	1.12B
Net Income to Company	128M	432M	646M	917M	1.12B
Net Income - (IS)	128M	432M	646M	917M	1.12B
Net Income to Common Incl Extra Items	128M	432M	646M	917M	1.12B
Net Income to Common Excl. Extra Items	128M	432M	646M	917M	1.12B
Per Share Items
Net EPS - Basic	21.75	72.57	108.53	153.93	188.04
Basic EPS - Continuing Operations	21.75	72.57	108.53	153.93	188.04
Basic Weighted Average Shares Outstanding	5.88M	5.95M	5.95M	5.96M	5.97M
Net EPS - Diluted	21.75	72.41	108.12	153.23	187.41
Diluted EPS - Continuing Operations	21.75	72.41	108.12	153.23	187.41
Diluted Weighted Average Shares Outstanding	5.92M	5.98M	5.98M	5.99M	5.99M
Normalized Basic EPS	30.06	74.64	116.55	135.13	182.26
Normalized Diluted EPS	29.89	74.37	115.94	134.48	181.57
Dividend Per Share	17.5	17.5	20	20	25
Payout Ratio	80.47	24.07	17.49	12.98	11.94
Supplemental Items
EBITDA	1.47B	2.1B	2.81B	3.29B	4.07B
EBITA	290M	717M	1.08B	1.3B	1.76B
EBIT	274M	717M	1.08B	1.3B	1.76B
EBITDAR	3.42B	4.13B	5.1B	5.94B	7.13B
Effective Tax Rate - (Ratio)	40.19	37.57	38.65	21.69	35.18
Normalized Net Income	177M	444M	694M	805M	1.09B
Non-Cash Pension Expense	17M	16M	17M	19M	21M
Supplemental Operating Expense Items
Net Rental Expense, Total	1.95B	2.03B	2.29B	2.65B	3.06B
Imputed Operating Lease Interest Expense	-	71.25M	77.99M	117M	207M
Imputed Operating Lease Depreciation	-	1.96B	2.21B	2.53B	2.85B

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	4.9B	4.57B	5.12B	4.5B	5.02B
Short Term Investments	200M	200M	200M	200M	200M
Total Cash And Short Term Investments	5.1B	4.77B	5.32B	4.7B	5.22B
Accounts Receivable, Total	477M	654M	696M	1.1B	1.27B
Other Receivables	-	-	-	-	-
Total Receivables	477M	654M	696M	1.1B	1.27B
Inventory	303M	792M	583M	536M	867M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	321M	324M	333M	358M	358M
Total Current Assets	6.2B	6.54B	6.94B	6.69B	7.71B
Net Property Plant And Equipment	4.17B	4.99B	5.46B	6.4B	8.17B
Long-term Investments	1.63B	1.66B	1.75B	2.05B	2.28B
Goodwill	-	-	-	-	169M
Other Intangibles, Total	48M	45M	42M	43M	34M
Deferred Tax Assets Long-Term	46M	44M	19M	215M	270M
Other Long-Term Assets, Total	2M	1M	1M	2M	2M
Total Assets	12.09B	13.28B	14.21B	15.4B	18.63B
Liabilities
Accounts Payable, Total	918M	1.71B	1.33B	1.45B	1.78B
Accrued Expenses, Total	64M	87M	90M	103M	148M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	1.41B	1.82B	1.56B	1.56B	1.82B
Current Income Taxes Payable	999M	1.27B	1.28B	1.64B	1.89B
Other Current Liabilities	274M	600M	801M	764M	1.23B
Total Current Liabilities	3.66B	5.49B	5.06B	5.51B	6.86B
Long-Term Debt	4.82B	3.82B	4.54B	4.35B	4.82B
Other Non Current Liabilities	518M	567M	619M	663M	1.05B
Total Liabilities	9B	9.88B	10.22B	10.53B	12.73B
Common Stock, Total	709M	709M	709M	709M	709M
Additional Paid In Capital	505M	504M	504M	503M	501M
Retained Earnings	1.86B	2.19B	2.72B	3.52B	4.51B
Treasury Stock	-48M	-45M	-45M	-41M	-35M
Comprehensive Income and Other	60M	44M	98M	176M	210M
Total Common Equity	3.09B	3.4B	3.99B	4.87B	5.9B
Total Equity	3.09B	3.4B	3.99B	4.87B	5.9B
Total Liabilities And Equity	12.09B	13.28B	14.21B	15.4B	18.63B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	5.95M	5.95M	5.95M	5.96M	5.98M
ECS Total Common Shares Outstanding	5.95M	5.95M	5.95M	5.96M	5.98M
Book Value / Share	518.94	571.79	670.43	816.89	985.99
Tangible Book Value	3.04B	3.36B	3.95B	4.83B	5.69B
Tangible Book Value Per Share	510.88	564.23	663.38	809.68	952.05
Total Debt	6.23B	5.64B	6.1B	5.91B	6.64B
Net Debt	1.13B	868M	772M	1.21B	1.42B
Debt Equivalent Oper. Leases	15.62B	16.26B	18.3B	21.2B	24.48B
Inventories - Raw Materials, Total	186M	172M	203M	300M	348M
Inventories - Finished Goods, Total	116M	619M	380M	235M	518M
Inventories - Others	1M	1M	-	1M	1M
Full Time Employees	195	195	202	223	279
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Net Income	215M	692M	1.05B	1.17B	1.73B
Depreciation & Amortization - CF	1.18B	1.38B	1.73B	2B	2.32B
Amortization of Goodwill and Intangible Assets - (CF)	16M	-	-	-	-
Depreciation & Amortization, Total	1.2B	1.38B	1.73B	2B	2.32B
(Gain) Loss From Sale Of Asset	57M	-	57M	117M	9M
(Gain) Loss on Sale of Investments - (CF)	-	18M	-	-	-
Other Operating Activities, Total	-94M	-108M	-308M	-470M	-533M
Change In Accounts Receivable	225M	-188M	-38M	-160M	-227M
Change In Inventories	-94M	-482M	208M	47M	-173M
Change In Accounts Payable	-28M	990M	-150M	45M	694M
Change in Other Net Operating Assets	114M	246M	-16M	-236M	219M
Cash from Operations	1.59B	2.55B	2.54B	2.51B	4.04B
Capital Expenditure	-1.73B	-2.06B	-2.27B	-2.61B	-3.61B
Cash Acquisitions	-	-	-	-	-244M
Sale (Purchase) of Intangible assets	-20M	-7M	-8M	-14M	-8M
Investment in Marketable and Equity Securities, Total	-79M	-10M	-100M	95M	-202M
Other Investing Activities, Total	-107M	-108M	-59M	-199M	-218M
Cash from Investing	-1.93B	-2.18B	-2.44B	-2.73B	-4.28B
Long-Term Debt Issued, Total	2.1B	900M	2.4B	1.5B	2.5B
Total Debt Issued	2.1B	900M	2.4B	1.5B	2.5B
Long-Term Debt Repaid, Total	-1.44B	-1.49B	-1.94B	-1.69B	-1.81B
Total Debt Repaid	-1.44B	-1.49B	-1.94B	-1.69B	-1.81B
Issuance of Common Stock	6M	1M	-	2M	4M
Repurchase of Common Stock	-28M	-	-	-	-
Common Dividends Paid	-103M	-104M	-113M	-119M	-134M
Common & Preferred Stock Dividends Paid	-103M	-104M	-113M	-119M	-134M
Other Financing Activities, Total	-7M	-5M	-	-	-
Cash from Financing	528M	-698M	347M	-305M	559M
Miscellaneous Cash Flow Adjustments	1M	-	1M	1M	-
Net Change in Cash	189M	-326M	446M	-525M	315M
Supplemental Items
Cash Interest Paid	26M	26M	25M	33M	52M
Cash Income Tax Paid (Refund)	92M	109M	331M	472M	535M
Levered Free Cash Flow	-	503M	100M	232M	348M
Unlevered Free Cash Flow	-	519M	116M	252M	381M
Change In Net Working Capital	-	-749M	11M	-74M	-584M
Net Debt Issued / Repaid	660M	-590M	460M	-188M	689M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Profitability
Return on Assets	-	3.53	4.92	5.47	6.45
Return on Total Capital	-	4.88	7.08	7.76	9.42
Return On Equity %	-	13.31	17.47	20.7	20.84
Return on Common Equity	-	13.31	17.47	20.7	20.84
Margin Analysis
Gross Profit Margin %	55.62	55.18	52.67	53.07	51.78
SG&A Margin	51.41	48.06	43.83	43.72	41.31
EBITDA Margin %	14.16	16.88	19.28	19.69	19.64
EBITA Margin %	2.79	5.76	7.43	7.75	8.48
EBIT Margin %	2.64	5.76	7.43	7.75	8.48
Income From Continuing Operations Margin %	1.23	3.47	4.43	5.49	5.41
Net Income Margin %	1.23	3.47	4.43	5.49	5.41
Net Avail. For Common Margin %	1.23	3.47	4.43	5.49	5.41
Normalized Net Income Margin	1.7	3.57	4.76	4.82	5.25
Levered Free Cash Flow Margin	-	4.04	0.69	1.39	1.68
Unlevered Free Cash Flow Margin	-	4.17	0.79	1.51	1.84
Asset Turnover
Asset Turnover	-	0.98	1.06	1.13	1.22
Fixed Assets Turnover	-	2.72	2.79	2.82	2.85
Receivables Turnover (Average Receivables)	-	22.01	21.6	18.65	17.51
Inventory Turnover (Average Inventory)	-	10.19	10.04	14.01	14.25
Short Term Liquidity
Current Ratio	1.69	1.19	1.37	1.21	1.12
Quick Ratio	1.52	0.99	1.19	1.05	0.94
Operating Cash Flow to Current Liabilities	0.43	0.46	0.5	0.46	0.59
Days Sales Outstanding (Average Receivables)	-	16.59	16.94	19.57	20.84
Days Outstanding Inventory (Average Inventory)	-	35.83	36.46	26.05	25.61
Average Days Payable Outstanding	-	79.19	83.3	65.23	57.17
Cash Conversion Cycle (Average Days)	-	-26.77	-29.89	-19.61	-10.72
Long Term Solvency
Total Debt/Equity	201.59	165.6	152.77	121.29	112.57
Total Debt / Total Capital	66.84	62.35	60.44	54.81	52.96
LT Debt/Equity	156.07	112.25	113.81	89.37	81.74
Long-Term Debt / Total Capital	51.75	42.26	45.02	40.38	38.45
Total Liabilities / Total Assets	74.45	74.37	71.92	68.36	68.34
EBIT / Interest Expense	10.54	27.58	43.32	39.24	33.15
EBITDA / Interest Expense	56.58	80.81	112.44	99.7	76.83
(EBITDA - Capex) / Interest Expense	-9.81	1.77	21.64	20.55	8.75
Total Debt / EBITDA	4.23	2.68	2.17	1.8	1.63
Net Debt / EBITDA	0.77	0.41	0.27	0.37	0.35
Total Debt / (EBITDA - Capex)	-24.42	122.54	11.27	8.71	14.31
Net Debt / (EBITDA - Capex)	-4.44	18.87	1.43	1.78	3.07
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	19.83	17.16	14.57	24.09
Gross Profit, 1 Yr. Growth %	-	18.89	11.82	15.46	21.06
EBITDA, 1 Yr. Growth %	-	42.83	33.79	17.04	23.77
EBITA, 1 Yr. Growth %	-	147.24	51.05	19.58	35.68
EBIT, 1 Yr. Growth %	-	161.68	51.05	19.58	35.68
Earnings From Cont. Operations, 1 Yr. Growth %	-	237.5	49.54	41.95	22.36
Net Income, 1 Yr. Growth %	-	237.5	49.54	41.95	22.36
Normalized Net Income, 1 Yr. Growth %	-	151.24	56.12	16.04	35.09
Diluted EPS Before Extra, 1 Yr. Growth %	-	232.88	49.32	41.72	22.31
Accounts Receivable, 1 Yr. Growth %	-	37.11	6.42	57.33	16.16
Inventory, 1 Yr. Growth %	-	161.39	-26.39	-8.06	61.75
Net Property, Plant and Equip., 1 Yr. Growth %	-	19.7	9.48	17.18	27.61
Total Assets, 1 Yr. Growth %	-	9.86	7	8.35	20.99
Tangible Book Value, 1 Yr. Growth %	-	10.46	17.56	22.26	17.94
Common Equity, 1 Yr. Growth %	-	10.2	17.24	22.05	21.06
Cash From Operations, 1 Yr. Growth %	-	60.3	-0.67	-1.03	60.86
Capital Expenditures, 1 Yr. Growth %	-	19.06	10.46	15.07	38.13
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-80.06	131.17	50.16
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-77.68	117.8	51.02
Dividend Per Share, 1 Yr. Growth %	-	0	14.29	0	25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	18.49	15.86	19.24
Gross Profit, 2 Yr. CAGR %	-	-	15.3	13.63	18.22
EBITDA, 2 Yr. CAGR %	-	-	38.24	25.14	20.36
EBITA, 2 Yr. CAGR %	-	-	93.25	34.39	27.37
EBIT, 2 Yr. CAGR %	-	-	98.81	34.39	27.37
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	124.65	45.69	31.79
Net Income, 2 Yr. CAGR %	-	-	124.65	45.69	31.79
Normalized Net Income, 2 Yr. CAGR %	-	-	98.05	34.59	25.2
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	122.95	45.47	31.66
Accounts Receivable, 2 Yr. CAGR %	-	-	20.79	29.4	35.19
Inventory, 2 Yr. CAGR %	-	-	38.71	-17.73	21.95
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	14.48	13.26	22.28
Total Assets, 2 Yr. CAGR %	-	-	8.42	7.67	14.49
Tangible Book Value, 2 Yr. CAGR %	-	-	13.96	19.89	20.08
Common Equity, 2 Yr. CAGR %	-	-	13.67	19.62	21.56
Cash From Operations, 2 Yr. CAGR %	-	-	26.19	-0.85	26.18
Capital Expenditures, 2 Yr. CAGR %	-	-	14.68	12.74	26.07
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-32.11	86.31
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-30.28	81.36
Dividend Per Share, 2 Yr. CAGR %	-	-	6.9	6.9	11.8
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	17.17	18.54
Gross Profit, 3 Yr. CAGR %	-	-	-	15.35	16.05
EBITDA, 3 Yr. CAGR %	-	-	-	30.78	24.68
EBITA, 3 Yr. CAGR %	-	-	-	64.67	34.82
EBIT, 3 Yr. CAGR %	-	-	-	67.82	34.82
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	92.78	37.46
Net Income, 3 Yr. CAGR %	-	-	-	92.78	37.46
Normalized Net Income, 3 Yr. CAGR %	-	-	-	65.72	34.76
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	91.7	37.3
Accounts Receivable, 3 Yr. CAGR %	-	-	-	31.92	24.83
Inventory, 3 Yr. CAGR %	-	-	-	20.94	3.06
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	15.37	17.86
Total Assets, 3 Yr. CAGR %	-	-	-	8.4	11.94
Tangible Book Value, 3 Yr. CAGR %	-	-	-	16.66	19.23
Common Equity, 3 Yr. CAGR %	-	-	-	16.39	20.1
Cash From Operations, 3 Yr. CAGR %	-	-	-	16.37	16.51
Capital Expenditures, 3 Yr. CAGR %	-	-	-	14.81	20.64
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-11.55
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-9.79
Dividend Per Share, 3 Yr. CAGR %	-	-	-	4.55	12.62
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-2.81	-0.81	-	-	-
Gross Profit, 5 Yr. CAGR %	2.09	3.39	-	-	-
EBITDA, 5 Yr. CAGR %	-	5.85	-	-	-
EBITA, 5 Yr. CAGR %	-1.95	10.46	-	-	-
EBIT, 5 Yr. CAGR %	-3.06	10.46	-	-	-
Earnings From Cont. Operations, 5 Yr. CAGR %	-17.15	11.74	-	-	-
Net Income, 5 Yr. CAGR %	-17.15	11.74	-	-	-
Normalized Net Income, 5 Yr. CAGR %	-2.79	9.68	-	-	-
Diluted EPS Before Extra, 5 Yr. CAGR %	-20.69	6.84	-	-	-
Accounts Receivable, 5 Yr. CAGR %	-9.94	-1.8	-	-	-
Inventory, 5 Yr. CAGR %	14.79	34.79	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	0.37	4.57	-	-	-
Total Assets, 5 Yr. CAGR %	5.91	4.15	-	-	-
Tangible Book Value, 5 Yr. CAGR %	7.04	1.2	-	-	-
Common Equity, 5 Yr. CAGR %	7.18	1.21	-	-	-
Cash From Operations, 5 Yr. CAGR %	-	9.72	-	-	-
Capital Expenditures, 5 Yr. CAGR %	-	12.87	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	-	9.06	-	-	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	8.3	-	-	-
Dividend Per Share, 5 Yr. CAGR %	28.47	0.58	-	-	-