Financials

ARE Holdings: 17 fiscal years of results, 2010–2026

Revenue · FYE Mar 2026
¥570bn
Operating profit · FYE Mar 2026
¥37bn
Net profit · FYE Mar 2026
¥24bn
Total assets
¥615bn
Equity ratio
37.5%
Fiscal years on record
17 · 2010–2026

This page carries 17 fiscal years of results, from 2010 to 2026. Revenue is at its highest on record in the latest year filed. The company reported a net loss in one year: 2017.

ARE Holdings: 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 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 *1 FYE Mar
Revenue JPY ¥83bn¥111bn¥151bn¥96bn¥94bn¥111bn¥119bn¥107bn¥116bn¥110bn¥136bn¥165bn¥192bn¥274bn¥322bn¥506bn¥570bn
YoY % —+33.8%+36.7%-36.2%-2.2%+18.1%+6.4%-9.7%+8.2%-4.7%+22.8%+21.5%+16.7%+42.5%+17.5%+57.1%+12.6%
Operating profit JPY ¥7.9bn¥11bn¥11bn¥7.5bn¥9.6bn¥11bn¥8.7bn¥2.0bn¥14bn¥13bn¥18bn¥25bn¥26bn¥16bn¥12bn¥20bn¥37bn
YoY % —+35.4%+4.7%-33.0%+28.0%+9.4%-17.1%-77.0%+590.0%-2.9%+34.3%+39.4%+5.2%-38.3%-23.9%+61.3%+85.5%
Ordinary profit JPY ¥7.9bn¥11bn¥11bn—¥10bn————————————
Net profit JPY ¥30bn¥34bn¥5.9bn¥4.5bn¥6.0bn¥5.8bn¥5.0bn-¥4.1bn¥9.4bn¥9.0bn¥9.8bn¥26bn¥19bn¥11bn¥25bn¥14bn¥24bn
YoY % —+14.7%-82.8%-23.7%+33.3%-3.3%-13.8%-182.0%—-4.3%+8.9%+162.2%-27.2%-41.7%+124.8%-41.6%+70.6%
Operating margin % 9.6%9.7%7.4%7.8%10.2%9.4%7.3%1.9%11.9%12.1%13.3%15.2%13.7%5.9%3.8%4.0%6.5%
Net margin % 36.2%31.0%3.9%4.7%6.4%5.2%4.2%-3.8%8.1%8.2%7.2%15.6%9.7%4.0%7.6%2.8%4.3%
Standard Japanese GAAPJapanese GAAPJapanese GAAPIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRSIFRS
Basis ConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidatedConsolidated
  • *1 Securities report
Cost structure Cost of sales SG&A Other operating costs 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 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 ¥83bn¥111bn¥151bn¥96bn¥94bn¥111bn¥118bn¥107bn¥116bn¥110bn¥136bn¥165bn¥192bn¥274bn¥322bn¥506bn¥570bn
YoY % —+33.8%+36.7%-36.2%-2.2%+18.2%+6.3%-9.8%+8.4%-4.7%+22.8%+21.5%+16.8%+42.5%+17.5%+57.1%+12.6%
Cost of sales JPY ¥70bn¥95bn¥135bn¥84bn¥79bn¥88bn¥93bn¥83bn¥88bn¥90bn¥109bn¥132bn¥158bn¥250bn¥301bn¥477bn¥525bn
SG&A JPY ¥4.3bn¥4.8bn¥4.9bn¥5.3bn¥5.6bn¥13bn¥17bn¥15bn¥14bn¥7.2bn¥7.2bn¥7.3bn¥7.7bn¥6.9bn¥8.2bn¥8.6bn¥9.6bn
Other operating costs JPY ———————¥7.1bn————————-¥1.8bn
Operating profit JPY ¥7.9bn¥11bn¥11bn¥7.5bn¥9.6bn¥10bn¥8.7bn¥2.0bn¥14bn¥13bn¥18bn¥25bn¥26bn¥16bn¥12bn¥20bn¥37bn
YoY % —+35.2%+5.2%-33.2%+28.5%+8.8%-16.9%-76.6%+576.7%-2.5%+34.0%+39.5%+5.3%-38.4%-24.0%+61.6%+85.6%
Operating margin % 9.5%9.6%7.4%7.8%10.2%9.4%7.3%1.9%11.9%12.2%13.3%15.2%13.7%5.9%3.8%3.9%6.5%
Change pp —+0.1pp-2.2pp+0.4pp+2.4pp-0.8pp-2.1pp-5.4pp+10.0pp+0.3pp+1.1pp+1.9pp-1.5pp-7.8pp-2.1pp+0.1pp+2.6pp
  • *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 ¥58bn¥62bn¥66bn¥105bn¥104bn¥87bn¥131bn¥160bn¥230bn¥245bn¥298bn¥287bn¥318bn¥490bn¥615bn
YoY % —+6.8%+6.2%+58.6%-1.2%-15.8%+50.8%+21.9%+43.5%+6.5%+21.9%-3.7%+10.6%+54.1%+25.6%
Equity JPY ¥39bn¥42bn¥46bn¥51bn¥51bn¥44bn¥64bn¥68bn¥69bn¥98bn¥105bn¥107bn¥126bn¥126bn¥231bn
YoY % —+8.0%+10.7%+8.8%+0.6%-14.3%+47.8%+5.2%+2.0%+41.5%+7.4%+1.7%+18.2%-0.2%+82.6%
Interest-bearing debt JPY ———¥33bn¥23bn—¥41bn¥64bn¥127bn¥105bn¥151bn¥144bn¥141bn¥290bn¥183bn
Equity ratio % 66.7%67.5%70.3%48.2%49.1%50.0%49.0%42.3%30.1%40.0%35.2%37.2%39.8%25.8%37.5%
Change pp —+0.8pp+2.8pp-22.1pp+0.9pp+0.9pp-1.0pp-6.7pp-12.2pp+9.9pp-4.8pp+2.0pp+2.6pp-14.0pp+11.7pp
  • *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 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 ¥6.2bn¥5.5bn¥11bn-¥0.4bn¥14bn¥9.4bn¥14bn¥3.3bn-¥13bn-¥21bn¥4.6bn-¥33bn¥11bn¥37bn¥13bn¥15bn-¥99bn
YoY % —-12.3%+107.0%-103.7%—-33.0%+51.7%-77.0%-507.7%——-829.5%—+231.0%-65.7%+16.4%-776.8%
Investing CF JPY -¥3.9bn-¥3.7bn-¥2.3bn-¥2.1bn-¥1.1bn-¥30bn-¥1.9bn-¥2.4bn-¥2.8bn-¥5.6bn¥1.9bn-¥2.8bn-¥7.8bn-¥3.9bn-¥29bn¥0.3bn-¥0.3bn
Financing CF JPY -¥2.5bn-¥1.1bn-¥7.7bn¥2.6bn-¥8.0bn¥21bn-¥6.5bn-¥6.6bn¥30bn¥18bn¥0.3bn¥24bn-¥6.0bn-¥24bn¥7.0bn-¥6.2bn¥92bn
Cash & equivalents JPY ¥1.7bn¥2.3bn¥3.5bn¥4.1bn¥9.5bn¥11bn¥17bn¥11bn¥24bn¥16bn¥23bn¥10bn¥6.1bn¥18bn¥6.9bn¥18bn¥10bn
YoY % —+31.5%+56.8%+17.4%+128.7%+14.5%+52.8%-34.8%+123.6%-32.5%+40.6%-56.2%-38.9%+193.0%-61.7%+155.1%-41.1%
  • *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 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 % 9.5%9.6%7.4%7.8%10.2%9.4%7.3%1.9%11.9%12.2%13.3%15.2%13.7%5.9%3.8%3.9%6.5%
Change pp —+0.1pp-2.2pp+0.4pp+2.4pp-0.8pp-2.1pp-5.4pp+10.0pp+0.3pp+1.1pp+1.9pp-1.5pp-7.8pp-2.1pp+0.1pp+2.6pp
Net margin % 36.2%31.1%3.9%4.7%6.3%5.2%4.2%-1.1%8.1%8.2%7.3%15.6%9.7%4.0%7.6%2.8%4.3%
Change pp —-5.1pp-27.2pp+0.8pp+1.6pp-1.1pp-1.0pp-5.3pp+9.2pp+0.1pp-0.9pp+8.3pp-5.9pp-5.7pp+3.6pp-4.8pp+1.5pp
ROE % ——15.2%10.8%12.8%11.4%9.9%-2.8%14.6%13.3%14.2%26.3%17.8%10.2%19.4%11.3%10.6%
Change pp ———-4.4pp+2.0pp-1.4pp-1.5pp-12.7pp+17.4pp-1.3pp+0.9pp+12.1pp-8.5pp-7.6pp+9.2pp-8.1pp-0.7pp
Equity ratio % ——66.7%67.5%70.3%48.2%49.1%50.0%49.0%42.3%30.1%40.0%35.2%37.2%39.8%25.8%37.5%
Change pp ———+0.8pp+2.8pp-22.1pp+0.9pp+0.9pp-1.0pp-6.7pp-12.2pp+9.9pp-4.8pp+2.0pp+2.6pp-14.0pp+11.7pp
  • *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 2010–2026, ARE Holdings’s revenue grew 6.9-fold in yen (12.8% a year). Converted at each year’s own average rate, the same span is 3.8-fold in dollars (8.8% a year), from $941m to $3.6bn. 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 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 $941m$1.4bn$1.9bn$988m$891m$921m$1.1bn$954m$1.0bn$1.0bn$1.3bn$1.5bn$1.5bn$2.0bn$2.1bn$3.4bn$3.6bn
YoY % —+47.2%+36.7%-47.8%-9.8%+3.3%+18.3%-12.4%+9.9%-3.4%+25.4%+18.2%-2.4%+33.2%+9.0%+59.0%+6.5%
Revenue as filed JPY ¥83bn¥111bn¥151bn¥96bn¥94bn¥111bn¥119bn¥107bn¥116bn¥110bn¥136bn¥165bn¥192bn¥274bn¥322bn¥506bn¥570bn
Rate applied ¥/US$ ¥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.

The series crosses 2 reporting regimes — consolidated Japanese GAAP for 2010–2012; and consolidated IFRS for 2013–2026. Figures are not strictly comparable across a change of basis: consolidation in particular adds subsidiaries that were previously outside the accounts.

Reporting regimes across the long series, oldest first.
Fiscal years Standard Basis Years
2010–2012 Japanese GAAP consolidated 3
2013–2026 IFRS consolidated 14
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

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

/api/5857/manifest.json ·/api/5857/history.json ·/api/5857/timeline.json ·/api/5857/decisions.json ·/api/5857/executives.json ·/api/5857/shareholders.json ·/api/5857/financials.json ·/api/5857/financials-longterm.json ·/api/5857/segments.json ·/api/5857/regions.json ·/api/5857/workforce.json · /api/5857/decisions/{slug}.json

/api/companies.json ·/api/decisions.json