Nihonwasou Holdings (TSE:2499) Operating Income: 円343 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2499 Nihonwasou Holdings Inc TSE:2499
54 GF Score
Price 円294.00
GF Value 円308.10
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is Nihonwasou Holdings Operating Income?

Nihonwasou Holdings TSE:2499 +0.34% 54 Operating Income is 円343 Mil as of Dec. 2025. GuruFocus rates TSE:2499 with a GF Score™ of 54/100 and a GF Value™ of 円308.10 (Fairly Valued). The stock has 4 warning signs investors should review.

Nihonwasou Holdings's Operating Income for the three months ended in Dec. 2025 was 円181 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was 円343 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Nihonwasou Holdings's Operating Income for the three months ended in Dec. 2025 was 円181 Mil. Nihonwasou Holdings's Revenue for the three months ended in Dec. 2025 was 円1,211 Mil. Therefore, Nihonwasou Holdings's Operating Margin % for the quarter that ended in Dec. 2025 was 14.91%.

Good Sign:

Nihonwasou Holdings Inc operating margin is expanding. Margin expansion is usually a good sign.

Nihonwasou Holdings's 5-Year average Growth Rate for Operating Margin % was 14.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Nihonwasou Holdings's annualized ROC % for the quarter that ended in Dec. 2025 was 9.10%. Nihonwasou Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 14.59%.


Nihonwasou Holdings  (TSE:2499) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Nihonwasou Holdings's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=722.42 * ( 1 - 22.63% )/( (6218.371 + 6059.769)/ 2 )
=558.936354/6139.07
=9.10 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8726.311 - 71.791 - ( 2436.149 - max(0, 3627.879 - 8484.99+2436.149))
=6218.371

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8771.683 - 201.309 - ( 2510.605 - max(0, 3618.256 - 8538.647+2510.605))
=6059.769

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Nihonwasou Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=725.508/( ( (111.891 + max(4923.088, 0)) + (182.852 + max(4727.764, 0)) )/ 2 )
=725.508/( ( 5034.979 + 4910.616 )/ 2 )
=725.508/4972.7975
=14.59 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5421.02 + 157.555 + 470.266) - (71.791 + 0 + 1053.962)
=4923.088

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5340.956 + 153.457 + 179.865) - (201.309 + 0 + 745.205)
=4727.764

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Nihonwasou Holdings's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=180.605/1211.34
=14.91 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Nihonwasou Holdings Operating Income Related Terms


Nihonwasou Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for Nihonwasou Holdings's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Nihonwasou Holdings Operating Income Chart

Nihonwasou Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 445.15 419.75 393.77 480.32 375.32

Nihonwasou Holdings Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -37.49 136.49 95.71 180.61 -69.84
TSE:2499
54GF Score
Nihonwasou Holdings Inc TSE:2499
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nihonwasou Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円343 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of 円343 Mil mean?
Nihonwasou Holdings (TSE:2499) has a Operating Income of 円343 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nihonwasou Holdings and its competitors.
Is Nihonwasou Holdings' Operating Income too high?
Nihonwasou Holdings' current Operating Income is 円343 Mil. Overall, Nihonwasou Holdings has a GF Score™ of 54/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nihonwasou Holdings' Operating Income compare to CTAS and CPRT?
Nihonwasou Holdings' Operating Income of 円343 Mil can be compared against companies in the Business Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Business Services company?
A good Operating Income depends on the Business Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nihonwasou Holdings and its competitors. Nihonwasou Holdings's current Operating Income is 円343 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nihonwasou Holdings stock overvalued right now?
Based on GuruFocus' analysis, Nihonwasou Holdings (TSE:2499) is currently considered Fairly Valued. The stock's GF Value™ is 円308.10, compared to a current price of 円294.00 — trading 4.6% below its estimated fair value. The current Operating Income is 円343 Mil. Nihonwasou Holdings' overall GF Score™ is 54/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Nihonwasou Holdings (TSE:2499), the current Operating Income is 円343 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Nihonwasou Holdings (TSE:2499) Overvalued in 2026?

Based on GuruFocus' analysis, Nihonwasou Holdings stock appears to be undervalued. The current stock price of 円294.00 is trading 4.6% below its estimated GF Value™ of 円308.10. GuruFocus considers Nihonwasou Holdings to be Fairly Valued.

Key valuation signals for TSE:2499:

  • Operating Income: 円343 Mil
  • GF Value™: 円308.10 vs. price of 円294.00 (4.6% below fair value)
  • GF Score™: 54/100 with 4 warning signs

No single metric tells the full story. See the TSE:2499 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Nihonwasou Holdings Business Description

Address 1-2-1 Tokio Marine & Nichido Annex Building 6F, Marunouchi, Chiyoda-ku, Tokyo, JPN
Nihonwasou Holdings Inc is engaged in the operation of kimono refreshment center, sales promotion agency, educational guidance for kimono and sewing, brokerage of sales contract for Japanese clothing and cosmetic items, tailoring Kimonos, kimono maintenance industry, and research and development and sale of jewelry accessories.
54GF Score

Get the complete analysis for TSE:2499

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円294.00
Price
円308.10
GF Value