Earnings quality
Compare earnings and operating cash flow for earnings quality.
Sekisui Chemical Co., Ltd.
Ticker 4204 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-12 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 8.1%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin8.1%
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
積水化学工業株式会社 is a Japanese listed company. Its reportable segments include Urban Infrastructure And Environmental Products, High Performance Plastics, Housing, Operating Segments Not Included In.
- Urban Infrastructure And Environmental Products
- High Performance Plastics
- Housing
- Operating Segments Not Included In
- Total Of
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
- Description Of Nature And Amounts Of Differences Between
Segments Urban Infrastructure And Environmental Products · High Performance Plastics · Housing · Operating Segments Not Included In · Total Of · Description Of
Compare trends
No phone/email found in this filing · Filing date 2026-06-12
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥1.3T | ¥1.3T |
| Cost of sales* | ¥877.1B | ¥885.1B |
| Gross profit | ¥420.6B | ¥424.2B |
| Operating profit (loss) | ¥108.0B | ¥106.5B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥35.9B | ¥27.7B |
| Profit (loss) | ¥84.1B | ¥77.4B |
| Profit (loss) attributable to owners | ¥81.9B | ¥75.2B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥120.9B | ¥92.4B |
| Current assets | ¥703.1B | ¥721.7B |
| Non-current assets | ¥627.7B | ¥706.2B |
| Total assets | ¥1.3T | ¥1.4T |
| Short-term borrowings | ¥2.3B | ¥20.0B |
| Current liabilities | ¥340.0B | ¥388.6B |
| Non-current liabilities* | ¥155.4B | ¥158.2B |
| Total liabilities | ¥495.4B | ¥546.8B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥119.2B | ¥78.3B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥61.2B | -¥46.5B |
| Net increase (decrease) in cash | -¥5.5B | -¥29.2B |
| Cash at end of period | ¥120.9B | ¥92.4B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥1.2T | ¥1.2T | ¥1.3T | ¥1.3T | ¥1.3T | |
| Operating profit | ¥97.0B | ¥104.2B | ¥105.9B | ¥111.0B | ¥117.2B | |
| Profit to owners | — | — | — | ¥81.9B | ¥75.2B | |
| Total assets | ¥1.2T | ¥1.2T | ¥1.3T | ¥1.3T | ¥1.4T | |
| Cash & equivalents | — | — | ¥126.4B | ¥120.9B | ¥92.4B | |
| Owners’ equity | ¥702.8B | ¥732.5B | ¥820.9B | ¥835.4B | ¥881.1B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from ¥1.3T to ¥1.3T (▲ +0.9%), so the top line did not break. Gross profit only slipped from ¥420.6B to ¥424.2B, while operating profit swung from ¥108.0B to ¥106.5B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥78.3B (prior ¥119.2B), and cash on the balance sheet rose to ¥92.4B from ¥120.9B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥546.8B while owners’ equity fell to —. ROE moved from 10.2% to 9.1%, and the equity ratio from 60.7% to 59.6%. Employee count is 26,752 vs 26,918 a year earlier.
Liquidity & leverage
Short-term borrowings jumped from ¥2.3B to ¥20.0B; watch refinancing and working-capital pressure even with a larger cash balance.
Capital buffer
Owners’ equity ratio fell from 60.7% to 59.6%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YBAY
(積水化学工業株式会社), period end 2026-03-31.