Income Statement Keyware Solutions Inc.

Stocks

3799

JP3236150003

Software

Market Closed - Japan Exchange 02:04:40 2026-10-02 EDT			5-day change	1st Jan Change
1,110.00 ^JPY	+0.18%		-3.56%	-10.70%

08-12	Keyware Solutions Inc. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2027	CI
05-21	Keyware Solutions Inc. Announces Year End Dividend for the Fiscal Year Ended 2026, Payable on June 11, 2026	CI

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Published financial data: KEYWARE SOLUTIONS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Revenues	18.43B	19.17B	20.51B	21.1B	22.72B
Total Revenues	18.43B	19.17B	20.51B	21.1B	22.72B
Cost of Goods Sold, Total	15.47B	15.73B	16.68B	17.07B	18.03B
Gross Profit	2.96B	3.44B	3.84B	4.03B	4.69B
Selling General & Admin Expenses, Total	2.41B	2.7B	2.96B	3.11B	3.38B
Provision for Bad Debts	-1M	-1M	-	-	-
Other Operating Expenses	-	-	-	-	175M
Other Operating Expenses, Total	2.41B	2.7B	2.96B	3.11B	3.56B
Operating Income	551M	739M	873M	921M	1.13B
Interest Expense, Total	-9M	-2M	-1M	-1M	-
Interest And Investment Income	3M	3M	3M	5M	47M
Net Interest Expenses	-6M	1M	2M	4M	47M
Income (Loss) On Equity Invest.	234M	231M	221M	262M	-
Other Non Operating Income (Expenses)	-24M	-52M	-8M	36M	17M
EBT, Excl. Unusual Items	755M	919M	1.09B	1.22B	1.2B
Gain (Loss) On Sale Of Investments	-	-186M	-	184M	3M
Asset Writedown	-	-	-1M	-81M	-
Other Unusual Items	-	-	-	-1M	-
EBT, Incl. Unusual Items	755M	733M	1.09B	1.32B	1.2B
Income Tax Expense	199M	251M	358M	294M	397M
Earnings From Continuing Operations	556M	482M	729M	1.03B	801M
Net Income to Company	556M	482M	729M	1.03B	801M
Net Income - (IS)	556M	482M	729M	1.03B	801M
Net Income to Common Incl Extra Items	556M	482M	729M	1.03B	801M
Net Income to Common Excl. Extra Items	556M	482M	729M	1.03B	801M
Per Share Items
Net EPS - Basic	70.98	59.97	90.59	127.54	95.84
Basic EPS - Continuing Operations	70.98	59.97	90.59	127.54	95.84
Basic Weighted Average Shares Outstanding	7.83M	8.04M	8.05M	8.08M	8.36M
Net EPS - Diluted	70.98	59.97	90.59	127.54	95.84
Diluted EPS - Continuing Operations	70.98	59.97	90.59	127.54	95.84
Diluted Weighted Average Shares Outstanding	7.83M	8.04M	8.05M	8.08M	8.36M
Normalized Basic EPS	60.24	71.47	84.5	94.56	89.36
Normalized Diluted EPS	60.24	71.47	84.5	94.56	89.36
Dividend Per Share	12	12	20	32	34
Payout Ratio	15.29	20.54	13.58	16.1	50.94
Supplemental Items
EBITDA	631M	819M	1.08B	1.16B	1.4B
EBITA	572M	762M	902M	950M	1.15B
EBIT	551M	739M	873M	921M	1.13B
Effective Tax Rate - (Ratio)	26.36	34.24	32.93	22.19	33.14
Normalized Net Income	472M	574M	680M	764M	747M
Non-Cash Pension Expense	70M	1.25M	8.5M	8.42M	-

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	910M	1.04B	1.96B	1.86B	3.36B
Total Cash And Short Term Investments	910M	1.04B	1.96B	1.86B	3.36B
Accounts Receivable, Total	3.39B	4B	4.04B	4.07B	5.16B
Total Receivables	3.39B	4B	4.04B	4.07B	5.16B
Inventory	113M	21M	51M	84M	100M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	2.63B	2.31B	2.05B	2.54B	1.24B
Total Current Assets	7.05B	7.37B	8.1B	8.56B	9.86B
Net Property Plant And Equipment	88M	100M	353M	389M	325M
Long-term Investments	3.22B	3.17B	3.6B	1.1B	1.11B
Goodwill	127M	189M	159M	63M	42M
Other Intangibles, Total	239M	298M	285M	291M	236M
Deferred Tax Assets Long-Term	23M	30M	27M	373M	436M
Other Long-Term Assets, Total	2M	2M	2M	2M	1M
Total Assets	10.74B	11.15B	12.52B	10.78B	12.01B
Liabilities
Accounts Payable, Total	1.37B	1.1B	1.15B	1.14B	1.29B
Accrued Expenses, Total	616M	714M	810M	848M	825M
Short-term Borrowings	375M	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Income Taxes Payable	129M	214M	260M	134M	412M
Other Current Liabilities	676M	989M	1.1B	735M	1.41B
Total Current Liabilities	3.17B	3.02B	3.32B	2.85B	3.94B
Long-Term Debt	-	-	-	-	-
Pension & Other Post Retirement Benefits	-	195M	192M	-	-
Deferred Tax Liability Non Current	7M	12M	41M	-	-
Other Non Current Liabilities	116M	124M	336M	356M	73M
Total Liabilities	3.29B	3.35B	3.89B	3.21B	4.01B
Common Stock, Total	1.74B	1.74B	1.74B	1.74B	1.74B
Additional Paid In Capital	758M	757M	758M	761M	765M
Retained Earnings	5.51B	5.89B	6.52B	5.42B	5.81B
Treasury Stock	-634M	-629M	-622M	-449M	-442M
Comprehensive Income and Other	83M	48M	242M	100M	130M
Total Common Equity	7.46B	7.81B	8.64B	7.57B	8B
Total Equity	7.46B	7.81B	8.64B	7.57B	8B
Total Liabilities And Equity	10.74B	11.15B	12.52B	10.78B	12.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.03M	8.04M	8.05M	8.35M	8.36M
ECS Total Common Shares Outstanding	8.03M	8.04M	8.05M	8.35M	8.36M
Book Value / Share	928.4	971.03	1.07K	906.54	957.14
Tangible Book Value	7.09B	7.32B	8.2B	7.22B	7.72B
Tangible Book Value Per Share	882.82	910.45	1.02K	864.14	923.9
Total Debt	375M	0	0	0	0
Net Debt	-535M	-1.04B	-1.96B	-1.86B	-3.36B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	195M	193M	-	-
Inventories - Work In Process, Total	11M	10M	8M	19M	25M
Inventories - Finished Goods, Total	102M	10M	42M	65M	75M
Inventories - Others	-	1M	1M	-	-
Full Time Employees	1.16K	1.26K	1.27K	1.29K	1.3K
Accumulated Allowance for Doubtful Accounts (Supple)	3M	4M	4M	3M	4M
Order Backlog	5.2B	5.54B	6B	6.51B	5.64B

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Net Income	755M	734M	1.09B	1.33B	1.2B
Depreciation & Amortization - CF	59M	57M	177M	214M	248M
Amortization of Goodwill and Intangible Assets - (CF)	21M	23M	29M	29M	21M
Depreciation & Amortization, Total	80M	80M	206M	243M	269M
(Gain) Loss From Sale Of Asset	-	-	1M	81M	-
(Gain) Loss on Sale of Investments - (CF)	-	187M	2M	-186M	-6M
(Income) Loss On Equity Investments - (CF)	-234M	-231M	-221M	-262M	-
Other Operating Activities, Total	-96M	-127M	-259M	-575M	-187M
Change In Accounts Receivable	-206M	-173M	265M	-482M	170M
Change In Inventories	32M	127M	-29M	-33M	-15M
Change In Accounts Payable	296M	-40M	-105M	-120M	302M
Change in Other Net Operating Assets	-75M	96M	235M	-325M	255M
Cash from Operations	552M	653M	1.18B	-333M	1.99B
Capital Expenditure	-6M	-15M	-22M	-247M	-48M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	1.32B	-
Sale (Purchase) of Intangible assets	-173M	-107M	-71M	-99M	-47M
Investment in Marketable and Equity Securities, Total	-194M	7M	12M	-34M	14M
Other Investing Activities, Total	-21M	65M	-76M	-540M	4M
Cash from Investing	-394M	-50M	-157M	398M	-77M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-1.12B	-375M	-	-	-
Long-Term Debt Repaid, Total	-93M	-	-	-	-
Total Debt Repaid	-1.22B	-375M	-	-	-
Issuance of Common Stock	960M	-	-	-	-
Repurchase of Common Stock	-1M	-	-	-	-
Common Dividends Paid	-85M	-99M	-99M	-166M	-408M
Common & Preferred Stock Dividends Paid	-85M	-99M	-99M	-166M	-408M
Other Financing Activities, Total	1M	-	-	-	-
Cash from Financing	-343M	-474M	-99M	-166M	-408M
Miscellaneous Cash Flow Adjustments	1M	-1M	-1M	-	-1M
Net Change in Cash	-184M	128M	926M	-101M	1.5B
Supplemental Items
Cash Interest Paid	9M	2M	1M	1M	-
Cash Income Tax Paid (Refund)	151M	180M	315M	642M	189M
Levered Free Cash Flow	318M	450M	1.16B	-551M	2.16B
Unlevered Free Cash Flow	323M	451M	1.16B	-550M	2.16B
Change In Net Working Capital	-78M	-31M	-497M	1.02B	-1.28B
Net Debt Issued / Repaid	-1.22B	-375M	-	-	-

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Profitability
Return on Assets	3.27	4.22	4.61	4.94	6.2
Return on Total Capital	4.45	5.91	6.64	7.1	9.08
Return On Equity %	8.24	6.32	8.87	12.72	10.29
Return on Common Equity	8.24	6.32	8.87	12.72	10.29
Margin Analysis
Gross Profit Margin %	16.07	17.95	18.7	19.09	20.64
SG&A Margin	13.08	14.1	14.44	14.73	14.9
EBITDA Margin %	3.42	4.27	5.26	5.52	6.16
EBITA Margin %	3.1	3.97	4.4	4.5	5.07
EBIT Margin %	2.99	3.85	4.26	4.36	4.98
Income From Continuing Operations Margin %	3.02	2.51	3.55	4.89	3.52
Net Income Margin %	3.02	2.51	3.55	4.89	3.52
Net Avail. For Common Margin %	3.02	2.51	3.55	4.89	3.52
Normalized Net Income Margin	2.56	3	3.32	3.62	3.29
Levered Free Cash Flow Margin	1.72	2.34	5.63	-2.61	9.5
Unlevered Free Cash Flow Margin	1.75	2.35	5.63	-2.61	9.5
Asset Turnover
Asset Turnover	1.75	1.75	1.73	1.81	1.99
Fixed Assets Turnover	202.49	203.97	90.56	56.88	63.65
Receivables Turnover (Average Receivables)	4.06	5.19	5.1	5.21	4.93
Inventory Turnover (Average Inventory)	119.43	234.81	463.22	252.92	196.01
Short Term Liquidity
Current Ratio	2.23	2.44	2.44	3	2.51
Quick Ratio	1.36	1.67	1.81	2.08	2.17
Operating Cash Flow to Current Liabilities	0.17	0.22	0.36	-0.12	0.5
Days Sales Outstanding (Average Receivables)	89.82	70.39	71.72	70.11	74.11
Days Outstanding Inventory (Average Inventory)	3.06	1.55	0.79	1.44	1.86
Average Days Payable Outstanding	28.9	28.81	24.61	24.39	24.51
Cash Conversion Cycle (Average Days)	63.97	43.13	47.9	47.16	51.46
Long Term Solvency
Total Debt/Equity	5.03	-	-	-	-
Total Debt / Total Capital	4.79	-	-	-	-
LT Debt/Equity	-	-	-	-	-
Long-Term Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	30.62	30	31.03	29.78	33.37
EBIT / Interest Expense	61.22	369.5	873	921	-
EBITDA / Interest Expense	70.11	409.5	1.08K	1.16K	-
(EBITDA - Capex) / Interest Expense	69.44	402	1.06K	917	-
Total Debt / EBITDA	0.59	-	-	-	-
Net Debt / EBITDA	-0.85	-1.27	-1.82	-1.6	-2.4
Total Debt / (EBITDA - Capex)	0.6	-	-	-	-
Net Debt / (EBITDA - Capex)	-0.86	-1.29	-1.86	-2.03	-2.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.07	4.05	6.98	2.88	7.69
Gross Profit, 1 Yr. Growth %	-0.54	16.21	11.45	5.06	16.43
EBITDA, 1 Yr. Growth %	-11.13	29.79	31.75	7.88	20.27
EBITA, 1 Yr. Growth %	-12.8	33.22	18.37	5.32	21.26
EBIT, 1 Yr. Growth %	-13.23	34.12	18.13	5.5	22.8
Earnings From Cont. Operations, 1 Yr. Growth %	-18.83	-13.31	51.24	41.43	-22.31
Net Income, 1 Yr. Growth %	-18.83	-13.31	51.24	41.43	-22.31
Normalized Net Income, 1 Yr. Growth %	0.13	21.72	18.39	12.41	-2.29
Diluted EPS Before Extra, 1 Yr. Growth %	-26.43	-15.51	51.04	40.8	-24.85
Accounts Receivable, 1 Yr. Growth %	-40.19	17.88	0.92	0.74	26.84
Inventory, 1 Yr. Growth %	-22.6	-81.42	142.86	64.71	19.05
Net Property, Plant and Equip., 1 Yr. Growth %	-6.38	13.64	253	10.2	-16.45
Total Assets, 1 Yr. Growth %	4.22	3.8	12.3	-13.94	11.44
Tangible Book Value, 1 Yr. Growth %	22.41	3.26	11.95	-11.96	7.07
Common Equity, 1 Yr. Growth %	23.26	4.72	10.66	-12.39	5.73
Cash From Operations, 1 Yr. Growth %	-386.01	18.3	81.16	-128.15	-696.7
Capital Expenditures, 1 Yr. Growth %	-33.33	150	46.67	1.02K	-80.57
Levered Free Cash Flow, 1 Yr. Growth %	-170.47	41.5	156.88	-147.71	-491.99
Unlevered Free Cash Flow, 1 Yr. Growth %	-173.14	39.43	156.31	-147.63	-492.44
Dividend Per Share, 1 Yr. Growth %	0	0	66.67	60	6.25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-0	1.46	5.5	4.91	5.26
Gross Profit, 2 Yr. CAGR %	0	7.51	13.81	8.21	10.6
EBITDA, 2 Yr. CAGR %	1.96	7.4	30.77	19.22	13.91
EBITA, 2 Yr. CAGR %	12.12	7.78	25.58	11.66	13.01
EBIT, 2 Yr. CAGR %	12.68	7.88	25.87	11.64	13.82
Earnings From Cont. Operations, 2 Yr. CAGR %	26.58	-16.12	14.51	46.25	4.82
Net Income, 2 Yr. CAGR %	26.58	-16.12	14.51	46.25	4.82
Normalized Net Income, 2 Yr. CAGR %	18.24	10.4	20.04	15.36	4.8
Diluted EPS Before Extra, 2 Yr. CAGR %	30.39	-21.16	12.97	45.83	2.86
Accounts Receivable, 2 Yr. CAGR %	-15.35	-16.03	9.08	0.83	13.04
Inventory, 2 Yr. CAGR %	-21.85	-62.07	-32.82	100	40.03
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.72	3.14	100.28	97.23	-4.05
Total Assets, 2 Yr. CAGR %	7.67	4.01	7.97	-1.69	-2.07
Tangible Book Value, 2 Yr. CAGR %	8	12.43	7.52	-0.72	-2.91
Common Equity, 2 Yr. CAGR %	8.51	13.62	7.65	-1.54	-3.75
Cash From Operations, 2 Yr. CAGR %	-12.62	83.94	46.39	-28.59	29.6
Capital Expenditures, 2 Yr. CAGR %	-36.75	29.1	91.49	305.79	47.71
Levered Free Cash Flow, 2 Yr. CAGR %	-24.63	-0.14	90.66	10.7	36.75
Unlevered Free Cash Flow, 2 Yr. CAGR %	-24.09	0.98	89.04	10.48	36.71
Dividend Per Share, 2 Yr. CAGR %	0	0	29.1	63.3	30.38
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.62	1.33	3.26	4.62	5.83
Gross Profit, 3 Yr. CAGR %	2.78	5.14	8.81	10.81	10.88
EBITDA, 3 Yr. CAGR %	9.09	10.5	14.97	22.64	19.57
EBITA, 3 Yr. CAGR %	18.82	18.75	11.2	18.42	14.77
EBIT, 3 Yr. CAGR %	19.86	19.41	11.19	18.68	15.24
Earnings From Cont. Operations, 3 Yr. CAGR %	17.36	11.58	2.1	22.86	18.45
Net Income, 3 Yr. CAGR %	17.36	11.58	2.1	22.86	18.45
Normalized Net Income, 3 Yr. CAGR %	23.69	19.39	13	17.44	9.15
Diluted EPS Before Extra, 3 Yr. CAGR %	20.61	12.83	-2.08	21.57	16.91
Accounts Receivable, 3 Yr. CAGR %	-11.86	-5.47	-10.72	6.22	8.85
Inventory, 3 Yr. CAGR %	-13.4	-51.58	-29.57	-9.41	68.24
Net Property, Plant and Equip., 3 Yr. CAGR %	-3.85	0.34	55.44	64.12	48.12
Total Assets, 3 Yr. CAGR %	3.21	6.36	6.7	0.11	2.5
Tangible Book Value, 3 Yr. CAGR %	6.3	6.39	12.27	0.59	1.81
Common Equity, 3 Yr. CAGR %	5.8	7.24	12.62	0.51	0.83
Cash From Operations, 3 Yr. CAGR %	75.57	-3.34	83.01	-15.5	44.91
Capital Expenditures, 3 Yr. CAGR %	-15.66	0	34.71	245.29	47.36
Levered Free Cash Flow, 3 Yr. CAGR %	119.31	-7.02	36.83	20.14	68.73
Unlevered Free Cash Flow, 3 Yr. CAGR %	128.8	-7.04	37.75	19.39	68.57
Dividend Per Share, 3 Yr. CAGR %	0	0	18.56	38.67	41.5
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.69	2.74	3.15	2.75	4.06
Gross Profit, 5 Yr. CAGR %	4.21	4.46	7.06	6.35	9.52
EBITDA, 5 Yr. CAGR %	17.73	6.46	17.29	13.91	14.54
EBITA, 5 Yr. CAGR %	34.49	11.16	21.48	15.86	11.92
EBIT, 5 Yr. CAGR %	43.36	12.51	22.23	16.24	12.24
Earnings From Cont. Operations, 5 Yr. CAGR %	43.62	18.76	16.21	24.33	3.18
Net Income, 5 Yr. CAGR %	43.62	18.76	16.21	24.33	3.18
Normalized Net Income, 5 Yr. CAGR %	39.88	14.65	22.22	17.76	9.65
Diluted EPS Before Extra, 5 Yr. CAGR %	45.49	20.03	17.49	25.03	-0.13
Accounts Receivable, 5 Yr. CAGR %	-3.62	-2.79	-4.01	-3	-1.88
Inventory, 5 Yr. CAGR %	-3.64	-24.74	-21.76	-14.61	-7.29
Net Property, Plant and Equip., 5 Yr. CAGR %	-5.05	-1.16	28.95	31.48	28.16
Total Assets, 5 Yr. CAGR %	3.35	2.63	5.09	3.06	3.1
Tangible Book Value, 5 Yr. CAGR %	7.12	5.6	6.78	3.49	5.93
Common Equity, 5 Yr. CAGR %	5.09	5.25	6.54	3.64	5.76
Cash From Operations, 5 Yr. CAGR %	-11.8	3.46	63.26	-14.36	59.41
Capital Expenditures, 5 Yr. CAGR %	-14.33	16.47	17.08	75.11	39.77
Levered Free Cash Flow, 5 Yr. CAGR %	-19.74	1.47	107.36	-0.3	36.8
Unlevered Free Cash Flow, 5 Yr. CAGR %	-19.62	1.22	111.98	-0.39	37.33
Dividend Per Share, 5 Yr. CAGR %	19.14	8.45	10.76	21.67	23.16