Financials

MARUWA: 25 fiscal years of results, 1995–2026

Revenue · FYE Mar 2026
¥74bn
Operating profit · FYE Mar 2026
¥25bn
Net profit · FYE Mar 2026
¥18bn
Total assets
¥163bn
Equity ratio
90.5%
Fiscal years on record
25 · 1995–2026

This page carries 25 fiscal years of results, from 1995 to 2026. 7 years in that range carry no figure on record and are left out rather than interpolated. It is stitched from 2 sources — securities reports for the modern years, and company yearbooks or printed corporate histories for the older ones. Each column in the table below is footnoted with the one it came from. Revenue is at its highest on record in the latest year filed. The company reported a net loss in one year: 2009.

MARUWA: long-term performance & turning pointsSales (revenue) and profit-margin ratio
Sales (¥ bn)Net margin (%)
Long-term results, every fiscal year on record (¥ bn). Scroll sideways for earlier years.
Fiscal year Unit 1995 *1 FYE Mar 1996 *1 FYE Mar 1997 *1 FYE Mar 1998 *1 FYE Mar 2006 FYE Mar 2007 FYE Mar 2008 FYE Mar 2009 FYE Mar 2010 FYE Mar 2011 FYE Mar 2012 FYE Mar 2013 FYE Mar 2014 FYE Mar 2015 FYE Mar 2016 FYE Mar 2017 FYE Mar 2018 FYE Mar 2019 FYE Mar 2020 FYE Mar 2021 FYE Mar 2022 FYE Mar 2023 FYE Mar 2024 FYE Mar 2025 FYE Mar 2026 *2 FYE Mar
Revenue JPY ¥5.8bn¥7.4bn¥7.1bn¥8.3bn¥20bn¥21bn¥21bn¥17bn¥15bn¥20bn¥21bn¥24bn¥34bn¥33bn¥31bn¥32bn¥39bn¥41bn¥41bn¥41bn¥54bn¥59bn¥62bn¥72bn¥75bn
YoY % +27.6%-4.1%+16.9%+3.9%-2.4%-18.9%-7.8%+29.9%+6.5%+14.6%+37.3%-2.1%-6.7%+5.2%+19.6%+7.0%0.0%+0.5%+31.2%+8.3%+4.8%+16.6%+3.8%
Operating profit JPY ¥1.7bn¥1.9bn¥1.6bn-¥0.5bn¥1.3bn¥3.0bn¥2.9bn¥2.3bn¥3.3bn¥2.4bn¥3.8bn¥5.0bn¥9.2bn¥9.6bn¥9.3bn¥10bn¥18bn¥20bn¥20bn¥27bn¥25bn
YoY % +11.8%-15.8%-131.2%+130.8%-3.3%-20.7%+43.5%-27.3%+58.3%+31.6%+84.0%+4.3%-3.1%+9.7%+78.4%+10.4%-1.5%+35.9%-7.1%
Ordinary profit JPY ¥1.1bn¥1.7bn¥1.3bn¥1.3bn¥1.9bn¥2.1bn¥1.8bn-¥0.1bn¥1.4bn¥3.1bn¥3.3bn¥3.1bn¥3.6bn¥2.8bn¥3.7bn¥5.0bn¥8.9bn¥9.9bn¥9.5bn¥10bn¥19bn¥21bn¥21bn¥27bn¥26bn
Net profit JPY ¥0.7bn¥1.0bn¥0.8bn¥0.2bn¥1.1bn¥1.3bn¥1.1bn-¥0.8bn¥1.1bn¥2.0bn¥2.1bn¥2.0bn¥2.6bn¥0.9bn¥2.3bn¥2.8bn¥5.5bn¥6.8bn¥5.9bn¥6.9bn¥13bn¥15bn¥15bn¥19bn¥18bn
YoY % +42.9%-20.0%-75.0%+18.2%-15.4%-172.7%+81.8%+5.0%-4.8%+30.0%-65.4%+155.6%+21.7%+96.4%+23.6%-13.2%+16.9%+94.2%+11.9%+1.3%+26.3%-5.2%
Operating margin % 8.4%9.0%7.8%-3.0%8.4%15.0%13.6%9.4%9.9%7.3%12.4%15.5%23.9%23.3%22.6%24.6%33.5%34.2%32.1%37.5%33.6%
Net margin % 12.1%13.5%11.3%2.4%5.4%6.2%5.3%-4.8%7.1%10.0%9.9%8.2%7.8%2.7%7.5%8.7%14.3%16.5%14.3%16.7%24.7%25.5%24.7%26.7%24.4%
Standard Japanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAPJapanese GAAP
Basis ConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidated
  • *1 証券 1999年2月号(51巻2号; 通巻599号)
  • *2 Securities report
Cost structure Cost of sales SG&A Operating profit Operating margin

Where each yen of revenue goes — cost of sales, SG&A and what is left as operating profit (¥ bn, stacked)

Revenue and its cost lines, every year the breakdown was filed (¥ bn).
Fiscal year Unit 2006 *1 FYE Mar 2007 *1 FYE Mar 2008 *1 FYE Mar 2009 *1 FYE Mar 2010 *1 FYE Mar 2011 *1 FYE Mar 2012 *1 FYE Mar 2013 *1 FYE Mar 2014 *1 FYE Mar 2015 *1 FYE Mar 2016 *1 FYE Mar 2017 *1 FYE Mar 2018 *1 FYE Mar 2019 *1 FYE Mar 2020 *1 FYE Mar 2021 *1 FYE Mar 2022 *1 FYE Mar 2023 *1 FYE Mar 2024 *1 FYE Mar 2025 *1 FYE Mar 2026 *1 FYE Mar
Revenue JPY ¥20bn¥21bn¥21bn¥17bn¥15bn¥20bn¥21bn¥24bn¥33bn¥33bn¥31bn¥32bn¥39bn¥41bn¥41bn¥41bn¥54bn¥59bn¥62bn¥72bn¥74bn
YoY % +3.9%-2.0%-19.1%-7.7%+29.9%+6.5%+14.5%+37.2%-2.0%-6.8%+5.3%+19.7%+7.0%+0.1%+0.5%+31.1%+8.2%+4.7%+16.7%+3.7%
Cost of sales JPY ¥14bn¥15bn¥15bn¥14bn¥11bn¥13bn¥15bn¥17bn¥22bn¥23bn¥20bn¥20bn¥22bn¥23bn¥24bn¥23bn¥27bn¥28bn¥31bn¥32bn¥35bn
SG&A JPY ¥4.1bn¥4.1bn¥3.8bn¥3.3bn¥3.1bn¥3.7bn¥3.8bn¥4.7bn¥7.6bn¥7.4bn¥7.2bn¥6.9bn¥7.4bn¥8.4bn¥8.2bn¥8.1bn¥9.1bn¥10bn¥11bn¥13bn¥14bn
Operating profit JPY ¥1.7bn¥1.9bn¥1.6bn-¥0.5bn¥1.3bn¥3.0bn¥2.9bn¥2.3bn¥3.3bn¥2.4bn¥3.8bn¥5.0bn¥9.2bn¥9.6bn¥9.3bn¥10bn¥18bn¥20bn¥20bn¥27bn¥25bn
YoY % +13.6%-18.1%-132.4%+135.5%-3.4%-22.0%+46.4%-28.2%+58.6%+29.9%+85.2%+4.2%-2.2%+9.7%+77.7%+10.6%-1.7%+35.9%-7.2%
Operating margin % 8.3%9.1%7.6%-3.1%8.4%15.2%13.8%9.4%10.0%7.3%12.5%15.4%23.8%23.2%22.7%24.7%33.5%34.3%32.2%37.5%33.5%
Change pp +0.8pp-1.5pp-10.7pp+11.5pp+6.8pp-1.4pp-4.4pp+0.6pp-2.7pp+5.2pp+2.9pp+8.4pp-0.6pp-0.5pp+2.0pp+8.8pp+0.8pp-2.1pp+5.3pp-4.0pp
  • *1 Securities report (yuka shoken hokokusho), as filed
Balance sheet Total assets Equity Interest-bearing debt Equity ratio

Total assets, equity and interest-bearing debt (¥ bn), with the equity ratio (%)

Balance-sheet totals, every year on record (¥ bn).
Fiscal year Unit 2012 *1 FYE Mar 2013 *1 FYE Mar 2014 *1 FYE Mar 2015 *1 FYE Mar 2016 *1 FYE Mar 2017 *1 FYE Mar 2018 *1 FYE Mar 2019 *1 FYE Mar 2020 *1 FYE Mar 2021 *1 FYE Mar 2022 *1 FYE Mar 2023 *1 FYE Mar 2024 *1 FYE Mar 2025 *1 FYE Mar 2026 *1 FYE Mar
Total assets JPY ¥41bn¥46bn¥50bn¥49bn¥49bn¥51bn¥59bn¥65bn¥71bn¥78bn¥96bn¥108bn¥123bn¥142bn¥163bn
YoY % +11.8%+8.7%-0.3%-1.8%+4.2%+15.7%+10.4%+9.4%+10.4%+22.9%+12.7%+13.4%+16.1%+14.3%
Equity JPY ¥34bn¥37bn¥40bn¥41bn¥42bn¥43bn¥49bn¥55bn¥59bn¥66bn¥80bn¥94bn¥109bn¥128bn¥147bn
YoY % +7.9%+7.7%+2.5%+1.7%+3.9%+13.2%+12.1%+8.2%+11.6%+20.1%+18.2%+15.9%+17.1%+15.2%
Interest-bearing debt JPY ¥1.2bn¥0.3bn¥0.0bn¥2.1bn¥1.7bn¥0.8bn¥0.7bn¥0.4bn
Equity ratio % 84.3%81.4%80.7%82.9%85.9%85.6%83.8%85.0%84.1%85.0%83.1%87.2%89.1%89.9%90.5%
Change pp -2.9pp-0.7pp+2.2pp+3.0pp-0.3pp-1.8pp+1.2pp-0.9pp+0.9pp-1.9pp+4.1pp+1.9pp+0.8pp+0.6pp
  • *1 Securities report (yuka shoken hokokusho), as filed
Cash flow Operating CF Investing CF Financing CF

Cash generated by operations, spent on investment and raised or repaid in financing (¥ bn)

Cash flows as filed, every year on record (¥ bn). A negative figure is cash out.
Fiscal year Unit 2006 *1 FYE Mar 2007 *1 FYE Mar 2008 *1 FYE Mar 2009 *1 FYE Mar 2010 *1 FYE Mar 2011 *1 FYE Mar 2012 *1 FYE Mar 2013 *1 FYE Mar 2014 *1 FYE Mar 2015 *1 FYE Mar 2016 *1 FYE Mar 2017 *1 FYE Mar 2018 *1 FYE Mar 2019 *1 FYE Mar 2020 *1 FYE Mar 2021 *1 FYE Mar 2022 *1 FYE Mar 2023 *1 FYE Mar 2024 *1 FYE Mar 2025 *1 FYE Mar 2026 *1 FYE Mar
Operating CF JPY ¥2.0bn¥1.4bn¥2.6bn¥3.9bn¥2.9bn¥2.5bn¥1.9bn¥4.1bn¥4.1bn¥3.7bn¥4.2bn¥5.3bn¥7.5bn¥7.0bn¥11bn¥11bn¥15bn¥16bn¥17bn¥25bn¥17bn
YoY % -30.2%+82.1%+48.8%-24.2%-12.8%-25.1%+117.3%-2.2%-9.1%+12.6%+28.8%+41.0%-7.6%+53.9%-0.1%+37.7%+6.0%+10.1%+47.2%-33.2%
Investing CF JPY -¥1.2bn-¥3.0bn-¥1.9bn-¥2.2bn-¥0.9bn-¥2.6bn-¥4.4bn-¥3.4bn-¥1.9bn-¥1.9bn-¥1.7bn-¥1.2bn-¥2.9bn-¥5.7bn-¥5.3bn-¥5.4bn-¥3.5bn-¥8.8bn-¥11bn-¥7.7bn-¥22bn
Financing CF JPY ¥0.1bn-¥0.7bn-¥0.4bn-¥0.4bn-¥0.2bn-¥0.3bn¥4.3bn-¥0.9bn¥0.2bn-¥0.9bn-¥1.4bn-¥0.7bn-¥0.7bn-¥0.7bn¥1.4bn-¥0.8bn-¥1.1bn-¥1.9bn-¥1.4bn-¥1.5bn-¥1.2bn
Cash & equivalents JPY ¥7.9bn¥5.9bn¥6.1bn¥7.1bn¥8.9bn¥8.4bn¥10bn¥10bn¥13bn¥14bn¥15bn¥18bn¥22bn¥22bn¥29bn¥34bn¥44bn¥50bn¥55bn¥72bn¥67bn
YoY % -24.8%+3.5%+14.9%+25.5%-5.5%+20.2%-0.6%+24.9%+9.4%+6.3%+22.7%+22.2%+3.0%+29.7%+16.4%+31.0%+11.7%+10.9%+30.1%-6.4%
  • *1 Securities report (yuka shoken hokokusho), as filed
Key ratios Operating margin Net margin ROE Equity ratio

Profitability and balance-sheet strength (%). ROE uses year-end equity.

Ratios by fiscal year (%), with the year-on-year move in percentage points. Derived from the filed figures above.
Fiscal year Unit 2006 *1 FYE Mar 2007 *1 FYE Mar 2008 *1 FYE Mar 2009 *1 FYE Mar 2010 *1 FYE Mar 2011 *1 FYE Mar 2012 *1 FYE Mar 2013 *1 FYE Mar 2014 *1 FYE Mar 2015 *1 FYE Mar 2016 *1 FYE Mar 2017 *1 FYE Mar 2018 *1 FYE Mar 2019 *1 FYE Mar 2020 *1 FYE Mar 2021 *1 FYE Mar 2022 *1 FYE Mar 2023 *1 FYE Mar 2024 *1 FYE Mar 2025 *1 FYE Mar 2026 *1 FYE Mar
Operating margin % 8.3%9.1%7.6%-3.1%8.4%15.2%13.8%9.4%10.0%7.3%12.5%15.4%23.8%23.2%22.7%24.7%33.5%34.3%32.2%37.5%33.5%
Change pp +0.8pp-1.5pp-10.7pp+11.5pp+6.8pp-1.4pp-4.4pp+0.6pp-2.7pp+5.2pp+2.9pp+8.4pp-0.6pp-0.5pp+2.0pp+8.8pp+0.8pp-2.1pp+5.3pp-4.0pp
Net margin % 5.6%6.3%5.3%-4.6%7.2%10.1%9.9%8.4%7.7%2.7%7.5%8.9%14.4%16.4%14.3%16.7%24.6%25.5%24.7%26.8%24.4%
Change pp +0.7pp-1.0pp-9.9pp+11.8pp+2.9pp-0.2pp-1.5pp-0.7pp-5.0pp+4.8pp+1.4pp+5.5pp+2.0pp-2.1pp+2.4pp+7.9pp+0.9pp-0.8pp+2.1pp-2.4pp
ROE % 6.1%5.5%6.5%2.2%5.5%6.6%11.3%12.3%9.9%10.5%16.8%15.9%13.9%15.0%12.3%
Change pp -0.6pp+1.0pp-4.3pp+3.3pp+1.1pp+4.7pp+1.0pp-2.4pp+0.6pp+6.3pp-0.9pp-2.0pp+1.1pp-2.7pp
Equity ratio % 84.3%81.4%80.7%82.9%85.9%85.6%83.8%85.0%84.1%85.0%83.1%87.2%89.1%89.9%90.5%
Change pp -2.9pp-0.7pp+2.2pp+3.0pp-0.3pp-1.8pp+1.2pp-0.9pp+0.9pp-1.9pp+4.1pp+1.9pp+0.8pp+0.6pp
  • *1 Securities report (yuka shoken hokokusho), as filed
Revenue in US dollars Revenue (US$m)

The revenue line above, converted at the average ¥/US$ rate of each figure’s own year — never today’s.

Between 1995–2026, MARUWA’s revenue grew 13-fold in yen (8.6% a year). Converted at each year’s own average rate, the same span is 7.6-fold in dollars (6.8% a year), from $62m to $471m. The dollar figure grew more slowly because the yen weakened over the period: part of the growth an investor sees in yen does not survive translation into dollars.

Revenue in millions of US dollars, converted at each year’s own average rate, with the yen figure as filed and the rate applied.
Fiscal year Unit 1995 *4 FYE Mar 1996 *4 FYE Mar 1997 *4 FYE Mar 1998 *4 FYE Mar 2006 *4 FYE Mar 2007 *4 FYE Mar 2008 *4 FYE Mar 2009 *4 FYE Mar 2010 *4 FYE Mar 2011 *4 FYE Mar 2012 *4 FYE Mar 2013 *4 FYE Mar 2014 *4 FYE Mar 2015 *4 FYE Mar 2016 *4 FYE Mar 2017 *4 FYE Mar 2018 *4 FYE Mar 2019 *4 FYE Mar 2020 *4 FYE Mar 2021 *4 FYE Mar 2022 *4 FYE Mar 2023 *4 FYE Mar 2024 *4 FYE Mar 2025 *4 FYE Mar 2026 *4,5 FYE Mar
Revenue USD $62m$68m$59m$63m$175m$179m$199m$179m$175m$251m$267m$250m$317m$271m$281m$287m$349m$378m$386m$377m$413m$418m$407m$480m$471m
YoY % +10.3%-13.8%+8.1%+2.6%+11.3%-10.4%-1.7%+42.9%+6.5%-6.3%+26.6%-14.4%+3.7%+2.1%+21.5%+8.4%+2.1%-2.3%+9.6%+1.2%-2.8%+18.0%-1.8%
Revenue as filed JPY ¥5.8bn¥7.4bn¥7.1bn¥8.3bn¥20bn¥21bn¥21bn¥17bn¥15bn¥20bn¥21bn¥24bn¥34bn¥33bn¥31bn¥32bn¥39bn¥41bn¥41bn¥41bn¥54bn¥59bn¥62bn¥72bn¥75bn
Rate applied ¥/US$ ¥94.05¥108.77¥121.02¥130.89¥116.28¥117.77¥103.33¥93.53¥87.77¥79.78¥79.79¥97.60¥105.84¥121.02¥108.84¥112.16¥110.40¥109.01¥106.78¥109.78¥131.37¥140.51¥151.50¥149.65¥158.16
  • *1 1949-1971: Fixed Bretton Woods peg ¥360/$ (Dodge Line 1949; Smithsonian ¥308 from Dec 1971).
  • *2 1972: Smithsonian peg ¥308/$ (held until Feb 1973 float).
  • *3 1973-1979: JIL (Japan Institute for Labour Policy and Training) g0001.xlsx — fiscal-year (Apr–Mar) basis, integer-rounded. PROVISIONAL; upgrade to BOJ FXERM07 calendar-year later.
  • *4 1980-2026: Bank of Japan stat-search FM08'FXERM07 (Tokyo market, USD/JPY spot, 17:00 fixing, monthly average) — calendar-year average of monthly averages.
  • *5 Provisional — part-year average, not a full calendar year.

Every rate used, and where it comes from →

Reporting basis

Which accounting standard each stretch of the series was filed under, and whether the accounts are consolidated.

Every year on record was filed on the same basis — consolidated Japanese GAAP — so the series is comparable end to end.

Reporting regimes across the long series, oldest first.
Fiscal years Standard Basis Years
1995–2026 Japanese GAAP consolidated 25
Download the long-term series (CSV) → Compiled from securities reports and other public filings. We do not guarantee accuracy or currency, and do not track post-filing corrections. Check the primary sources before relying on these figures.

All figures are in Japanese yen as filed. Where a foreign-currency comparison is needed elsewhere on this site, yen amounts are converted at the average rate of each figure's own year — not today's rate. Exchange rates & sources →

Read the company history → 日本語版(詳細)— full financial data in Japanese →



Data API

MARUWA’s history, financials, executives and shareholders are published as static JSON — no key, plain GET. Full specification →

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