Earnings quality
Compare earnings and operating cash flow for earnings quality.
HOYA Corporation
Ticker 7741 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-05 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 78.4%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio78.4%
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
ＨＯＹＡ株式会社 is a Japanese listed company. Its reportable segments include Total Of, Other.
- Total Of
- Other
Segments Total Of · Other
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | — | — |
| Finance income | ¥16.4B | ¥13.3B |
| Finance costs | ¥1.5B | ¥2.0B |
| Income tax expense | ¥58.2B | ¥76.2B |
| Profit (loss) | ¥201.8B | ¥251.5B |
| Profit (loss) attributable to owners | ¥202.1B | ¥253.1B |
| Basic EPS (¥) | 581.45 | 743.93 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥534.0B | ¥574.1B |
| Current assets | ¥879.7B | ¥960.8B |
| Non-current assets | ¥354.5B | ¥340.1B |
| Total assets | ¥1.2T | ¥1.3T |
| Short-term borrowings | — | — |
| Current liabilities | ¥179.5B | ¥199.7B |
| Non-current liabilities* | ¥83.1B | ¥66.2B |
| Total liabilities | ¥262.6B | ¥265.9B |
| Equity attributable to owners | ¥974.0B | ¥1.0T |
| Total equity | ¥971.6B | ¥1.0T |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥235.1B | ¥278.4B |
| Cash flows from investing activities | -¥33.2B | -¥7.6B |
| Cash flows from financing activities | -¥190.4B | -¥261.3B |
| Net increase (decrease) in cash | — | — |
| Cash at end of period | ¥534.0B | ¥574.1B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥661.5B | ¥723.6B | ¥762.6B | ¥866.0B | ¥947.7B | |
| Profit to owners | — | — | — | ¥202.1B | ¥253.1B | |
| Total assets | ¥992.8B | ¥1.0T | ¥1.2T | ¥1.2T | ¥1.3T | |
| Cash & equivalents | ¥419.4B | ¥405.9B | ¥525.2B | ¥534.0B | ¥574.1B | |
| Owners’ equity | ¥803.9B | ¥818.3B | ¥967.8B | ¥974.0B | ¥1.0T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from — to — (—), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥278.4B (prior ¥235.1B), and cash on the balance sheet rose to ¥574.1B from ¥534.0B. 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 ¥265.9B while owners’ equity fell to ¥1.0T. ROE moved from 20.8% to 25.4%, and the equity ratio from 78.9% to 78.4%. Employee count is 37,752 vs 37,909 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 78.9% to 78.4%; the balance sheet absorbed a heavy loss year.
Was this page helpful?
Source: EDINET S100Y90T
(ＨＯＹＡ株式会社), period end 2026-03-31.