KEIWA (TSE:4251) Operating Income: 円4,214 Mil (TTM As of Jun. 2026)

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TSE:4251 KEIWA Inc TSE:4251
85 GF Score
Price 円1,181.00
GF Value 円1,079.20
Valuation Fairly Valued
! 3 Warning Signs
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What is KEIWA Operating Income?

KEIWA TSE:4251 -0.08% 85 Operating Income is 円4,214 Mil as of Jun. 2026. GuruFocus rates TSE:4251 with a GF Score™ of 85/100 and a GF Value™ of 円1,079.20 (Fairly Valued). The stock has 3 warning signs investors should review.

KEIWA's Operating Income for the three months ended in Jun. 2026 was 円0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was 円4,214 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. KEIWA's Operating Income for the three months ended in Jun. 2026 was 円0 Mil. KEIWA's Revenue for the three months ended in Jun. 2026 was 円0 Mil. Therefore, KEIWA's Operating Margin % for the quarter that ended in Jun. 2026 was %.

Good Sign:

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

KEIWA's 5-Year average Growth Rate for Operating Margin % was 16.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. KEIWA's annualized ROC % for the quarter that ended in Jun. 2026 was 0.00%. KEIWA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 0.00%.


KEIWA  (TSE:4251) Operating Income Explanation

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

KEIWA's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=0 * ( 1 - 0% )/( (16663.005 + 17392.324)/ 2 )
=0/17027.6645
=0.00 %

where

Invested Capital(Q: Mar. 2026 )
=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))
=31171.241 - 2219.113 - ( 12289.123 - max(0, 4745.614 - 18967.566+12289.123))
=16663.005

Invested Capital(Q: Jun. 2026 )
=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))
=31029.415 - 2372.053 - ( 11265.038 - max(0, 4084.068 - 18855.688+11265.038))
=17392.324

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

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

KEIWA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=0/( ( (11638.725 + max(2690.881, 0)) + (11564.509 + max(4264.634, 0)) )/ 2 )
=0/( ( 14329.606 + 15829.143 )/ 2 )
=0/15079.3745
=0.00 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3734.927 + 2381.952 + 561.564) - (2219.113 + 0 + 1768.449)
=2690.881

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4674.808 + 2131.382 + 784.46) - (2372.053 + 0 + 953.963)
=4264.634

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

KEIWA's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=0/0
= %

* 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.


KEIWA Operating Income Related Terms


KEIWA Operating Income Historical Data

* Premium members only.

The historical data trend for KEIWA'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.

KEIWA Operating Income Chart

KEIWA Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only 3,135.33 5,569.64 2,455.51 4,739.98 4,286.67

KEIWA Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 986.18 1,036.00 1,003.62 1,188.32 0.00
TSE:4251
85GF Score
KEIWA Inc TSE:4251
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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KEIWA 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 Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was 円4,214 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4,214 Mil mean?
KEIWA (TSE:4251) has a Operating Income of 円4,214 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on KEIWA and its competitors.
Is KEIWA's Operating Income too high?
KEIWA's current Operating Income is 円4,214 Mil. Overall, KEIWA has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KEIWA's Operating Income compare to APH and GLW?
KEIWA's Operating Income of 円4,214 Mil can be compared against companies in the Hardware 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 Hardware company?
A good Operating Income depends on the Hardware 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 KEIWA and its competitors. KEIWA's current Operating Income is 円4,214 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KEIWA stock overvalued right now?
Based on GuruFocus' analysis, KEIWA (TSE:4251) is currently considered Fairly Valued. The stock's GF Value™ is 円1,079.20, compared to a current price of 円1,181.00 — trading 9.4% above its estimated fair value. The current Operating Income is 円4,214 Mil. KEIWA's overall GF Score™ is 85/100 with 3 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 KEIWA (TSE:4251), the current Operating Income is 円4,214 Mil as of Jun. 2026. 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 KEIWA (TSE:4251) Overvalued in 2026?

Based on GuruFocus' analysis, KEIWA stock appears to be overvalued. The current stock price of 円1,181.00 is trading 9.4% above its estimated GF Value™ of 円1,079.20. GuruFocus considers KEIWA to be Fairly Valued.

Key valuation signals for TSE:4251:

  • Operating Income: 円4,214 Mil
  • GF Value™: 円1,079.20 vs. price of 円1,181.00 (9.4% above fair value)
  • GF Score™: 85/100 with 3 warning signs

No single metric tells the full story. See the TSE:4251 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KEIWA Business Description

Address 3rd Floor, Sumitomo Life Insurance Kayabacho Building, 2-10-5 Nihonbashi Kayabacho, Chuo-ku, Tokyo, JPN, 103-0025
KEIWA Inc is a Japanese based company involved in the optical sheet and functional product business. The optical sheet business includes components of special optical films such as light diffusion sheets and condensing film protective films used in backlight units for liquid crystal displays such as smartphones, whereas the Functional product includes industrial packaging materials with specific functions (moisture resistance, heat resistance, durability), clean energy materials, and other industrial materials such as building materials and agricultural materials.
85GF Score

Get the complete analysis for TSE:4251

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

円1,181.00
Price
円1,079.20
GF Value