Balance Sheet NJS Co., Ltd.

Equities

2325

JP3718600004

Environmental Services & Equipment

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-04-10 am EDT			5-day change	1st Jan Change
4,700.00 ^JPY	-2.99%		-0.11%	-7.84%

Feb. 13	NJS Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2025	CI
Feb. 13	NJS Co., Ltd. Announces Year-End Dividend for the Fiscal Year Ended December 31, 2025, Payable on March 30, 2026; Provides Second Quarter End Dividend Guidance for the Fiscal Year Ending December 31, 2026	CI

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Published financial data: NJS CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	19.32B	19.23B	22.03B	22.59B	24.85B
Total Revenues	19.32B	19.23B	22.03B	22.59B	24.85B
Cost of Goods Sold, Total	11.74B	11.71B	14.78B	13.26B	14.76B
Gross Profit	7.57B	7.52B	7.24B	9.33B	10.09B
Selling General & Admin Expenses, Total	4.12B	4.87B	4.68B	5.3B	5.67B
Provision for Bad Debts	-20M	-	15M	14M	31M
R&D Expenses	641M	618M	790M	873M	927M
Depreciation & Amortization - (IS)	53M	92M	114M	103M	110M
Amortization of Goodwill and Intangible Assets - (IS)	-	7M	23M	23M	61M
Other Operating Expenses	-	-	19M	27M	22M
Other Operating Expenses, Total	4.79B	5.59B	5.64B	6.34B	6.82B
Operating Income	2.78B	1.93B	1.61B	2.99B	3.27B
Interest Expense, Total	-	-	-	-	-
Interest And Investment Income	40M	35M	43M	78M	98M
Net Interest Expenses	40M	35M	43M	78M	98M
Currency Exchange Gains (Loss)	27M	20M	19M	18M	-17M
Other Non Operating Income (Expenses)	11M	22M	35M	51M	37M
EBT, Excl. Unusual Items	2.86B	2.01B	1.7B	3.14B	3.39B
Gain (Loss) On Sale Of Investments	-25M	72M	-	42M	-
Gain (Loss) On Sale Of Assets	-4M	-2M	1.3B	-2M	-3M
Asset Writedown	-	-	-166M	-	-
Legal Settlements	-	-	-	-33M	-35M
Other Unusual Items	20M	468M	27M	-	-124M
EBT, Incl. Unusual Items	2.85B	2.55B	2.87B	3.15B	3.22B
Income Tax Expense	919M	822M	861M	1.03B	1.04B
Earnings From Continuing Operations	1.93B	1.73B	2.01B	2.12B	2.18B
Net Income to Company	1.93B	1.73B	2.01B	2.12B	2.18B
Minority Interest	-1M	-1M	-9M	-5M	-2M
Net Income - (IS)	1.93B	1.73B	2B	2.12B	2.18B
Net Income to Common Incl Extra Items	1.93B	1.73B	2B	2.12B	2.18B
Net Income to Common Excl. Extra Items	1.93B	1.73B	2B	2.12B	2.18B
Per Share Items
Net EPS - Basic	202.37	180.96	209.31	222.16	229.2
Basic EPS - Continuing Operations	202.37	180.96	209.31	222.16	229.2
Basic Weighted Average Shares Outstanding	9.53M	9.54M	9.54M	9.52M	9.52M
Net EPS - Diluted	202.37	180.96	209.31	222.16	229.2
Diluted EPS - Continuing Operations	202.37	180.96	209.31	222.16	229.2
Diluted Weighted Average Shares Outstanding	9.53M	9.54M	9.54M	9.52M	9.52M
Normalized Basic EPS	187.29	131.67	110.68	205.55	222.09
Normalized Diluted EPS	187.29	131.67	110.68	205.55	222.09
Dividend Per Share	65	75	85	95	105
Payout Ratio	29.7	38.7	38.26	40.57	43.72
Supplemental Items
EBITDA	3B	2.21B	1.97B	3.37B	3.75B
EBITA	2.78B	1.94B	1.63B	3.02B	3.33B
EBIT	2.78B	1.93B	1.61B	2.99B	3.27B
EBITDAR	3.24B	2.48B	2.24B	3.65B	4.04B
Effective Tax Rate - (Ratio)	32.26	32.25	30.03	32.61	32.26
Normalized Net Income	1.79B	1.26B	1.06B	1.96B	2.11B
Non-Cash Pension Expense	40.19M	56.8M	-133M	-2.77M	-39M
Supplemental Operating Expense Items
General and Administrative Expenses	306M	281M	296M	284M	302M
Research And Development Expense From Footnotes	641M	618M	790M	873M	927M
Net Rental Expense, Total	244M	274M	271M	280M	284M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	13.46B	13.98B	17.19B	17.68B	17.83B
Short Term Investments	-	-	-	10M	-
Total Cash And Short Term Investments	13.46B	13.98B	17.19B	17.69B	17.83B
Accounts Receivable, Total	3.29B	1.47B	1.52B	1.69B	2.92B
Total Receivables	3.29B	1.47B	1.52B	1.69B	2.92B
Inventory	4.49B	1.72B	613M	965M	1.04B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	460M	4.37B	4.88B	5.11B	5.35B
Total Current Assets	21.7B	21.54B	24.2B	25.46B	27.14B
Net Property Plant And Equipment	2.64B	3.07B	1.18B	1.12B	1.4B
Long-term Investments	1.98B	2.22B	2.82B	3.33B	5.1B
Goodwill	-	110M	87M	63M	503M
Other Intangibles, Total	449M	603M	642M	659M	773M
Loans Receivable Long-Term	-	-	-	66M	150M
Deferred Tax Assets Long-Term	749M	628M	568M	415M	22M
Other Long-Term Assets, Total	2M	2M	-	2M	2M
Total Assets	27.52B	28.18B	29.49B	31.12B	35.1B
Liabilities
Accounts Payable, Total	1.14B	1.38B	785M	762M	826M
Accrued Expenses, Total	659M	770M	778M	792M	846M
Current Portion of Long-Term Debt	2M	1M	-	3M	-
Current Income Taxes Payable	611M	334M	592M	684M	573M
Unearned Revenue Current, Total	720M	-	-	-	-
Other Current Liabilities	1.7B	1.75B	2.02B	2.09B	3.3B
Total Current Liabilities	4.83B	4.24B	4.17B	4.33B	5.55B
Long-Term Debt	1M	-	-	-	-
Pension & Other Post Retirement Benefits	923M	570M	549M	416M	626M
Deferred Tax Liability Non Current	7M	38M	38M	40M	122M
Other Non Current Liabilities	249M	250M	185M	149M	226M
Total Liabilities	6.01B	5.1B	4.94B	4.93B	6.52B
Common Stock, Total	520M	520M	520M	520M	520M
Additional Paid In Capital	300M	276M	276M	276M	276M
Retained Earnings	21.06B	22.47B	23.7B	24.96B	26.19B
Treasury Stock	-806M	-792M	-792M	-874M	-854M
Comprehensive Income and Other	379M	552M	781M	1.24B	2.38B
Total Common Equity	21.45B	23.03B	24.49B	26.12B	28.5B
Minority Interest	50M	52M	61M	66M	69M
Total Equity	21.5B	23.08B	24.55B	26.19B	28.57B
Total Liabilities And Equity	27.52B	28.18B	29.49B	31.12B	35.1B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.53M	9.54M	9.54M	9.52M	9.52M
ECS Total Common Shares Outstanding	9.53M	9.54M	9.54M	9.52M	9.52M
Book Value / Share	2.25K	2.41K	2.57K	2.75K	2.99K
Tangible Book Value	21B	22.32B	23.76B	25.4B	27.23B
Tangible Book Value Per Share	2.2K	2.34K	2.49K	2.67K	2.86K
Total Debt	3M	1M	0	3M	0
Net Debt	-13.46B	-13.98B	-17.19B	-17.69B	-17.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	899M	534M	511M	404M	619M
Debt Equivalent Oper. Leases	1.95B	2.19B	2.17B	2.24B	2.27B
Minority Interest, Total (Incl. Fin. Div)	50M	52M	61M	66M	69M
Inventories - Work In Process, Total	4.49B	1.72B	613M	965M	1.04B
Full Time Employees	934	1.14K	1.36K	1.38K	1.47K
Accumulated Allowance for Doubtful Accounts (Supple)	25M	30M	28M	15M	44M
Order Backlog	23.12B	19.19B	20.04B	20.82B	29.32B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.85B	2.55B	2.87B	3.15B	3.22B
Depreciation & Amortization - CF	218M	270M	343M	354M	425M
Amortization of Goodwill and Intangible Assets - (CF)	-	7M	23M	23M	61M
Depreciation & Amortization, Total	218M	277M	366M	377M	486M
(Gain) Loss From Sale Of Asset	4M	2M	-1.13B	2M	3M
(Gain) Loss on Sale of Investments - (CF)	25M	1M	-	-	-
Other Operating Activities, Total	-574M	-520M	-615M	-1.11B	-1.14B
Change In Accounts Receivable	-1.94B	-2.03B	-514M	-251M	-1.25B
Change In Inventories	-426M	2.85B	1.12B	-318M	-109M
Change In Accounts Payable	366M	105M	-419M	2M	-165M
Change in Other Net Operating Assets	-299M	-1.28B	-124M	-66M	1.02B
Cash from Operations	227M	1.95B	1.55B	1.79B	2.08B
Capital Expenditure	-460M	-725M	-254M	-129M	-369M
Sale of Property, Plant, and Equipment	-	-	3.1B	-	-
Cash Acquisitions	-	51M	-	61M	-222M
Sale (Purchase) of Intangible assets	-239M	-277M	-243M	-253M	-292M
Investment in Marketable and Equity Securities, Total	144M	-13M	-10M	-46M	10M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-66M	-83M
Other Investing Activities, Total	4M	14M	-174M	60M	4M
Cash from Investing	-551M	-950M	2.42B	-373M	-952M
Issuance of Common Stock	-	-	-	2M	-
Repurchase of Common Stock	-	-	-	-89M	-
Common Dividends Paid	-573M	-668M	-764M	-858M	-954M
Common & Preferred Stock Dividends Paid	-573M	-668M	-764M	-858M	-954M
Other Financing Activities, Total	17M	-198M	-7M	-12M	-14M
Cash from Financing	-556M	-866M	-771M	-957M	-968M
Foreign Exchange Rate Adjustments	-1M	15M	9M	35M	-8M
Miscellaneous Cash Flow Adjustments	-1M	367M	1M	1M	-1M
Net Change in Cash	-882M	519M	3.21B	493M	146M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	616M	991M	643M	1.07B	1.1B
Levered Free Cash Flow	-560M	571M	1.36B	1.26B	1.55B
Unlevered Free Cash Flow	-560M	571M	1.36B	1.26B	1.55B
Change In Net Working Capital	1.82B	-87M	-483M	608M	321M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.53	4.34	3.48	6.17	6.17
Return on Total Capital	8.34	5.42	4.22	7.37	7.46
Return On Equity %	9.27	7.75	8.42	8.36	7.98
Return on Common Equity	9.28	7.76	8.4	8.36	7.99
Margin Analysis
Gross Profit Margin %	39.21	39.13	32.89	41.3	40.6
SG&A Margin	21.33	25.34	21.23	23.45	22.82
EBITDA Margin %	15.52	11.5	8.96	14.91	15.1
EBITA Margin %	14.39	10.09	7.4	13.34	13.39
EBIT Margin %	14.39	10.06	7.3	13.24	13.15
Income From Continuing Operations Margin %	9.99	8.98	9.11	9.38	8.79
Net Income Margin %	9.99	8.98	9.07	9.36	8.78
Net Avail. For Common Margin %	9.99	8.98	9.07	9.36	8.78
Normalized Net Income Margin	9.24	6.53	4.79	8.66	8.51
Levered Free Cash Flow Margin	-2.9	2.97	6.16	5.56	6.22
Unlevered Free Cash Flow Margin	-2.9	2.97	6.16	5.56	6.22
Asset Turnover
Asset Turnover	0.73	0.69	0.76	0.75	0.75
Fixed Assets Turnover	7.98	6.74	10.37	19.65	19.68
Receivables Turnover (Average Receivables)	8.42	8.08	14.72	14.05	10.77
Inventory Turnover (Average Inventory)	2.75	3.77	12.67	16.81	14.71
Short Term Liquidity
Current Ratio	4.49	5.08	5.8	5.88	4.89
Quick Ratio	3.47	3.64	4.49	4.48	3.74
Operating Cash Flow to Current Liabilities	0.05	0.46	0.37	0.41	0.37
Days Sales Outstanding (Average Receivables)	43.37	45.18	24.79	26.05	33.88
Days Outstanding Inventory (Average Inventory)	132.74	96.8	28.8	21.77	24.82
Average Days Payable Outstanding	26.52	51.54	28.94	20.79	19.53
Cash Conversion Cycle (Average Days)	149.59	90.44	24.65	27.03	39.18
Long Term Solvency
Total Debt/Equity	0.01	0	-	0.01	-
Total Debt / Total Capital	0.01	0	-	0.01	-
LT Debt/Equity	0	-	-	-	-
Long-Term Debt / Total Capital	0	-	-	-	-
Total Liabilities / Total Assets	21.85	18.09	16.76	15.85	18.58
EBIT / Interest Expense	-	-	-	-	-
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	0	0	-	0	-
Net Debt / EBITDA	-4.49	-6.32	-8.71	-5.25	-4.75
Total Debt / (EBITDA - Capex)	0	0	-	0	-
Net Debt / (EBITDA - Capex)	-5.3	-9.41	-10	-5.46	-5.27
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.92	-0.43	14.54	2.57	10
Gross Profit, 1 Yr. Growth %	2.37	-0.65	-3.73	28.81	8.13
EBITDA, 1 Yr. Growth %	12.83	-26.25	-10.76	70.76	11.43
EBITA, 1 Yr. Growth %	12.6	-30.18	-16.02	84.97	10.41
EBIT, 1 Yr. Growth %	12.6	-30.43	-16.91	86.19	9.22
Earnings From Cont. Operations, 1 Yr. Growth %	13.33	-10.52	16.16	5.68	3.02
Net Income, 1 Yr. Growth %	13.27	-10.52	15.7	5.91	3.17
Normalized Net Income, 1 Yr. Growth %	13.94	-29.65	-15.92	85.31	8.04
Diluted EPS Before Extra, 1 Yr. Growth %	13.26	-10.58	15.66	6.14	3.17
Accounts Receivable, 1 Yr. Growth %	153.35	-55.33	3.54	11.3	72.37
Inventory, 1 Yr. Growth %	10.81	-61.68	-64.36	57.42	8.08
Net Property, Plant and Equip., 1 Yr. Growth %	20.11	16.29	-61.66	-4.59	24.93
Total Assets, 1 Yr. Growth %	7.2	2.41	4.67	5.52	12.77
Tangible Book Value, 1 Yr. Growth %	5.9	6.24	6.48	6.91	7.19
Common Equity, 1 Yr. Growth %	6.53	7.34	6.34	6.67	9.11
Cash From Operations, 1 Yr. Growth %	-90.92	760.35	-20.64	15.29	16.12
Capital Expenditures, 1 Yr. Growth %	329.91	57.61	-64.97	-49.21	186.05
Levered Free Cash Flow, 1 Yr. Growth %	-125.69	-202.01	137.65	-7.33	23.03
Unlevered Free Cash Flow, 1 Yr. Growth %	-125.69	-202.01	137.65	-7.33	23.03
Dividend Per Share, 1 Yr. Growth %	18.18	15.38	13.33	11.76	10.53
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.54	0.74	6.79	8.39	6.22
Gross Profit, 2 Yr. CAGR %	4.67	0.85	-2.2	11.36	18.02
EBITDA, 2 Yr. CAGR %	10.71	-8.78	-18.88	23.44	37.94
EBITA, 2 Yr. CAGR %	10.98	-11.34	-23.43	24.63	42.91
EBIT, 2 Yr. CAGR %	10.98	-11.5	-23.97	24.38	42.6
Earnings From Cont. Operations, 2 Yr. CAGR %	7.28	0.7	1.95	10.8	4.34
Net Income, 2 Yr. CAGR %	7.25	0.67	1.75	10.7	4.53
Normalized Net Income, 2 Yr. CAGR %	11.18	-10.47	-23.09	24.83	41.5
Diluted EPS Before Extra, 2 Yr. CAGR %	7.57	0.64	1.7	10.8	4.64
Accounts Receivable, 2 Yr. CAGR %	40.93	6.38	-31.99	7.35	38.51
Inventory, 2 Yr. CAGR %	-3.5	-34.84	-63.05	-25.1	30.44
Net Property, Plant and Equip., 2 Yr. CAGR %	8.13	18.18	-33.23	-39.52	9.18
Total Assets, 2 Yr. CAGR %	3.79	4.78	3.53	5.09	9.08
Tangible Book Value, 2 Yr. CAGR %	4.94	6.07	6.36	6.69	7.05
Common Equity, 2 Yr. CAGR %	5.42	6.94	6.84	6.51	7.89
Cash From Operations, 2 Yr. CAGR %	-2.54	-11.61	161.31	-4.34	15.7
Capital Expenditures, 2 Yr. CAGR %	93.39	160.3	-25.69	-57.82	20.53
Levered Free Cash Flow, 2 Yr. CAGR %	40.95	-48.81	55.7	48.4	6.78
Unlevered Free Cash Flow, 2 Yr. CAGR %	40.95	-48.81	55.7	48.4	6.78
Dividend Per Share, 2 Yr. CAGR %	14.02	16.77	14.35	12.55	11.14
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.88	3.51	5.14	5.37	8.93
Gross Profit, 3 Yr. CAGR %	0.95	2.87	-0.7	7.2	10.27
EBITDA, 3 Yr. CAGR %	-0.56	-3.31	-9.45	3.97	19.3
EBITA, 3 Yr. CAGR %	-1.25	-4.9	-12.93	2.74	19.7
EBIT, 3 Yr. CAGR %	-1.25	-5.02	-13.34	2.48	19.11
Earnings From Cont. Operations, 3 Yr. CAGR %	0.05	0.98	5.61	3.18	8.14
Net Income, 3 Yr. CAGR %	0.03	0.96	5.45	3.12	8.13
Normalized Net Income, 3 Yr. CAGR %	-0.41	-4.55	-12.32	3.11	18.96
Diluted EPS Before Extra, 3 Yr. CAGR %	0.78	1.14	5.42	3.16	8.2
Accounts Receivable, 3 Yr. CAGR %	31.18	-3.91	5.42	-19.86	25.71
Inventory, 3 Yr. CAGR %	1.29	-29.08	-46.71	-40.1	-15.36
Net Property, Plant and Equip., 3 Yr. CAGR %	5.98	10.78	-18.8	-24.79	-22.97
Total Assets, 3 Yr. CAGR %	2.93	3.33	4.74	4.19	7.59
Tangible Book Value, 3 Yr. CAGR %	5.39	5.37	6.21	6.54	6.86
Common Equity, 3 Yr. CAGR %	5.79	6.05	6.74	6.79	7.37
Cash From Operations, 3 Yr. CAGR %	-60.77	101.42	-14.73	98.93	2.04
Capital Expenditures, 3 Yr. CAGR %	63.63	80.64	33.4	-34.54	-20.16
Levered Free Cash Flow, 3 Yr. CAGR %	-45.88	26.55	-14.61	30.97	39.41
Unlevered Free Cash Flow, 3 Yr. CAGR %	-45.88	26.55	-14.61	30.97	39.41
Dividend Per Share, 3 Yr. CAGR %	13.04	14.47	15.62	13.48	11.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.32	3	3.82	5.43	5.57
Gross Profit, 5 Yr. CAGR %	10.46	7.96	-0.33	6.18	6.4
EBITDA, 5 Yr. CAGR %	27.21	9.9	-8.34	6.61	7.16
EBITA, 5 Yr. CAGR %	29.48	9.39	-10.8	5.96	6.16
EBIT, 5 Yr. CAGR %	29.48	9.31	-11.06	5.8	5.77
Earnings From Cont. Operations, 5 Yr. CAGR %	43.79	19.46	0.81	4.8	5.1
Net Income, 5 Yr. CAGR %	43.77	19.44	0.72	4.75	5.08
Normalized Net Income, 5 Yr. CAGR %	27.92	10.06	-10.19	6.26	6.18
Diluted EPS Before Extra, 5 Yr. CAGR %	44.42	19.96	1.15	4.9	5.11
Accounts Receivable, 5 Yr. CAGR %	34.52	-0.32	0.86	0.44	17.59
Inventory, 5 Yr. CAGR %	-1.02	-16.49	-32.33	-27.51	-23.77
Net Property, Plant and Equip., 5 Yr. CAGR %	0.78	4.34	-11.9	-13.04	-8.59
Total Assets, 5 Yr. CAGR %	3.88	5.29	3.17	4.03	6.46
Tangible Book Value, 5 Yr. CAGR %	5.47	6.26	5.77	5.9	6.54
Common Equity, 5 Yr. CAGR %	5.78	6.77	6.21	6.24	7.2
Cash From Operations, 5 Yr. CAGR %	-33.89	23.78	-16.25	49.54	-3.66
Capital Expenditures, 5 Yr. CAGR %	35.42	66.89	19.32	0.96	28.09
Levered Free Cash Flow, 5 Yr. CAGR %	-19.15	-10.04	-17.41	34.88	-6.62
Unlevered Free Cash Flow, 5 Yr. CAGR %	-19.16	-10.04	-17.41	34.88	-6.62
Dividend Per Share, 5 Yr. CAGR %	10.2	13.4	13.56	13.7	13.81