Earnings quality
Compare earnings and operating cash flow for earnings quality.
TOPPAN Holdings Inc.
Ticker 7911 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-24 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 3.7%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin3.7%
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
ＴＯＰＰＡＮホールディングス株式会社 is a Japanese listed company. Its reportable segments include Electronics, Information And Communication, Living And Industry, Impairment Loss Disclosure Of Impairment Loss On Non Current Assets For Each.
- Electronics
- Information And Communication
- Living And Industry
- Impairment Loss Disclosure Of Impairment Loss On Non Current Assets For Each
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
- Description Of Impairment Loss Not Allocated To
Segments Electronics · Information And Communication · Living And Industry · Impairment Loss Disclosure Of Impairment Loss On Non Current Assets For Each · Description Of · Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Compare trends
No phone/email found in this filing · Filing date 2026-06-24
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥1.7T | ¥1.8T |
| Cost of sales* | ¥1.3T | ¥1.4T |
| Gross profit | ¥413.3B | ¥424.2B |
| Operating profit (loss) | ¥85.1B | ¥67.1B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥85.2B | ¥34.2B |
| Profit (loss) | ¥100.1B | ¥71.2B |
| Profit (loss) attributable to owners | ¥90.1B | ¥64.8B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥753.1B | ¥411.2B |
| Current assets | ¥1.4T | ¥1.2T |
| Non-current assets | ¥1.1T | ¥1.4T |
| Total assets | ¥2.5T | ¥2.6T |
| Short-term borrowings | ¥312.8B | ¥125.1B |
| Current liabilities | ¥822.9B | ¥629.3B |
| Non-current liabilities* | ¥273.6B | ¥518.9B |
| Total liabilities | ¥1.1T | ¥1.1T |
| 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 | ¥66.3B | ¥86.1B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥121.5B | -¥28.9B |
| Net increase (decrease) in cash | ¥230.3B | -¥311.2B |
| Cash at end of period | ¥753.1B | ¥411.2B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥1.5T | ¥1.6T | ¥1.7T | ¥1.7T | ¥1.8T | |
| Operating profit | ¥76.3B | ¥81.2B | ¥82.5B | ¥89.6B | ¥75.7B | |
| Profit to owners | — | — | — | ¥90.1B | ¥64.8B | |
| Total assets | ¥2.3T | ¥2.2T | ¥2.4T | ¥2.5T | ¥2.6T | |
| Cash & equivalents | — | — | ¥522.8B | ¥753.1B | ¥411.2B | |
| Owners’ equity | ¥1.4T | ¥1.5T | ¥1.6T | ¥1.4T | ¥1.4T |
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 ¥1.7T to ¥1.8T (▲ +5.0%), so the top line did not break. Gross profit only slipped from ¥413.3B to ¥424.2B, while operating profit swung from ¥85.1B to ¥67.1B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥86.1B (prior ¥66.3B), and cash on the balance sheet rose to ¥411.2B from ¥753.1B. 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 ¥1.1T while owners’ equity fell to —. ROE moved from 6.7% to 4.9%, and the equity ratio from 51.4% to 52.3%. Employee count is 54,371 vs 51,988 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YIAY
(ＴＯＰＰＡＮホールディングス株式会社), period end 2026-03-31.