Earnings quality
Compare earnings and operating cash flow for earnings quality.
USS Co., Ltd.
Ticker 4732 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-22 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 52.6%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin52.6%
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
株式会社ユー・エス・エス is a Japanese listed company. Its reportable segments include Auto Auction, Used Vehicle Sales Purchases, Operating Segments Not Included In, Total Of.
- Auto Auction
- Used Vehicle Sales Purchases
- Operating Segments Not Included In
- Total Of
- Recycling
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Auto Auction · Used Vehicle Sales Purchases · Operating Segments Not Included In · Total Of · Recycling · Description Of
Compare trends
No phone/email found in this filing · Filing date 2026-06-22
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥104.0B | ¥113.9B |
| Cost of sales* | ¥39.2B | ¥42.4B |
| Gross profit | ¥64.8B | ¥71.5B |
| Operating profit (loss) | ¥54.2B | ¥59.8B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥17.0B | ¥18.7B |
| Profit (loss) | ¥38.0B | ¥41.9B |
| Profit (loss) attributable to owners | ¥37.6B | ¥41.4B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥104.7B | ¥88.9B |
| Current assets | ¥144.6B | ¥141.7B |
| Non-current assets | ¥122.7B | ¥128.4B |
| Total assets | ¥267.3B | ¥270.1B |
| Short-term borrowings | ¥340.0M | ¥697.0M |
| Current liabilities | ¥51.2B | ¥52.2B |
| Non-current liabilities* | ¥8.8B | ¥7.0B |
| Total liabilities | ¥60.0B | ¥59.2B |
| 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 | ¥38.2B | ¥43.9B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥30.0B | -¥38.4B |
| Net increase (decrease) in cash | ¥2.2B | -¥15.8B |
| Cash at end of period | ¥104.7B | ¥88.9B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥81.5B | ¥88.8B | ¥97.6B | ¥104.0B | ¥113.9B | |
| Operating profit | ¥42.4B | ¥44.5B | ¥49.7B | ¥54.9B | ¥60.6B | |
| Profit to owners | — | — | — | ¥37.6B | ¥41.4B | |
| Total assets | ¥229.4B | ¥242.4B | ¥271.6B | ¥267.3B | ¥270.1B | |
| Cash & equivalents | — | — | ¥102.5B | ¥104.7B | ¥88.9B | |
| Owners’ equity | ¥182.5B | ¥194.2B | ¥199.0B | ¥207.4B | ¥211.0B |
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 ¥104.0B to ¥113.9B (▲ +9.5%), so the top line did not break. Gross profit only slipped from ¥64.8B to ¥71.5B, while operating profit swung from ¥54.2B to ¥59.8B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥43.9B (prior ¥38.2B), and cash on the balance sheet rose to ¥88.9B from ¥104.7B. 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.
Goodwill on the balance sheet fell from ¥6.7B to ¥6.2B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥59.2B while owners’ equity fell to —. ROE moved from 18.9% to 20.1%, and the equity ratio from 76.2% to 76.7%. Employee count is 1,211 vs 1,175 a year earlier.
Liquidity & leverage
Short-term borrowings jumped from ¥340.0M to ¥697.0M; watch refinancing and working-capital pressure even with a larger cash balance.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YGIC
(株式会社ユー・エス・エス), period end 2026-03-31.