Tsugami’s latest annual report tells a better story than simple sales growth. Revenue for the year to March 2026 reached ¥129.14 billion, profit before tax rose to ¥35.62 billion, profit attributable to owners of the parent hit ¥16.75 billion, and return on equity improved to 23.4%. The ratio of owners’ equity to gross assets also rose to 52.0%.
That mix matters because it suggests the improvement reached both the income statement and the balance sheet. Higher revenue is useful. Higher revenue paired with a better ROE is the figure worth circling, because it shows Tsugami earning more from shareholder capital at the same time as it expanded sales.
| Year ended March | Revenue | Pre-tax profit | ROE (as reported) |
|---|---|---|---|
| 2022 | ¥93,174,000,000 | ¥18,776,000,000 | 0.226 |
| 2023 | ¥94,963,000,000 | ¥16,467,000,000 | 0.159 |
| 2024 | ¥83,928,000,000 | ¥13,795,000,000 | 0.100 |
| 2025 | ¥107,411,000,000 | ¥23,709,000,000 | 0.182 |
| 2026 | ¥129,140,000,000 | ¥35,617,000,000 | 0.234 |
The historical series in the filing shows why the latest year stands out. Revenue in the five-year IFRS summary runs from ¥93,174,000,000 and ¥94,963,000,000 to a dip at ¥83,928,000,000, then rebounds to ¥107,411,000,000 and now ¥129,140,000,000. Profit before tax follows an even sharper path, from ¥18,776,000,000 and ¥16,467,000,000 down to ¥13,795,000,000, then up to ¥23,709,000,000 and finally ¥35,617,000,000. Profit attributable to owners of the parent also climbed to ¥16.75 billion from ¥10,901,000,000 a year earlier.
That makes the year to March 2026 the high point in this five-year snapshot for both revenue and pre-tax profit. The balance-sheet side moved in the same direction. Comprehensive income attributable to owners of the parent rose to ¥24.26 billion, total assets stood at ¥154.06 billion, and basic earnings per share reached 361.20 yen. The filing pairs a higher ROE with a higher owners’ equity ratio, rather than a trade-off between the two.
What remains unclear is the part investors usually ask about next: where, exactly, did the improvement come from? The summary figures here do not identify which export markets, customers or product lines drove the gain. That means the cleanest supported takeaway is also the simplest one. Tsugami ended the year to March 2026 with its strongest revenue and pre-tax profit in the five-year IFRS summary, plus a higher ROE to show the gains were not merely decorative.