Nippon Ski Resort Development Co Ltd

Nippon Ski Resort Development Co Ltd maintains a strong liquidity position, with a current ratio of 2.82 and cash and equivalents amounting to ¥3.91 billion, which significantly exceeds its short-term obligations. The company's debt-to-equity ratio of 0.42 indicates a conservative capital structure, with long-term debt of ¥2.97 billion supported by total equity of ¥6.98 billion.

Profitability metrics show the company is performing well relative to its industry. Return on equity (ROE) of 12.8% and return on assets (ROA) of 7.72% suggest efficient use of equity and asset base, respectively. These figures are above the typical thresholds for the Leisure & Recreation industry, indicating strong operational performance.

The company's revenue is concentrated in Japan, with no disclosed international operations. This geographic concentration exposes the company to local economic conditions and seasonal demand fluctuations, particularly during the winter ski season. No material segment breakdown is available, but the primary revenue driver is ski resort operations.

Looking ahead, the company is projected to maintain stable revenue growth. The current fiscal year is expected to see a modest increase in revenue, with the next fiscal year showing a similar trend. Historical revenue data supports this outlook, with a consistent revenue base of ¥3.40 billion in the latest reporting period.

Risk factors for the company are currently low, with no immediate liquidity or dilution concerns identified. The company has not issued any recent equity, and there are no signs of near-term dilution pressure. The conservative capital structure and strong cash reserves further mitigate financial risk.

Recent filings and transcripts do not indicate any material changes in the company's operations or strategic direction. The company continues to focus on maintaining its ski resort facilities and optimizing seasonal demand. No significant new projects or partnerships have been disclosed in the latest available documents.

Revenue grew 26.9% year-over-year to JPY 10.46 billion in fiscal 2025, demonstrating strong top-line expansion.

Net income surged 45.0% to JPY 1.59 billion in fiscal 2025, reflecting significant profitability improvement.

Free cash flow turned negative to JPY -167 million in fiscal 2025, reversing the positive trend from the prior year.

Long-term debt increased substantially to JPY 3.41 billion in fiscal 2025, up from JPY 2.86 billion the previous year.

Debt-to-equity ratio of 0.42 is below the cohort median of 0.30, indicating higher relative leverage than peers.

Operating income growth of 44.7% in fiscal 2025 may be unsustainable given the high base from prior recovery years.

Negative free cash flow in fiscal 2025 suggests capital expenditures are currently outpacing operating cash generation.

Revenue ¥4.09B, +16,8% YoY; Operating income +10,1% YoY.

• ▍Revenue ¥4.09B, +16,8% YoY
• ▍Operating income +10,1% YoY
• ▍Net income +2,1% YoY
• ▍Net margin 20.3%

Revenue ¥1.36B, −6,4% YoY; Operating income −399,2% YoY.

• ▍Revenue ¥1.36B, −6,4% YoY
• ▍Operating income −399,2% YoY
• ▍Net income −676,9% YoY
• ▍Net margin -21.3%

Revenue ¥1.30B, +40,0% YoY; Operating income −42,4% YoY.

• ▍Revenue ¥1.30B, +40,0% YoY
• ▍Operating income −42,4% YoY
• ▍Net income −12,7% YoY
• ▍Net margin -25.0%

Revenue ¥4.20B, +23,7% YoY; Operating income +36,8% YoY.

• ▍Revenue ¥4.20B, +23,7% YoY
• ▍Operating income +36,8% YoY
• ▍Net income +27,2% YoY
• ▍Net margin 27.1%

Revenue ¥3.50B; Operating income ¥1.15B.

• ▍Revenue ¥3.50B
• ▍Operating income ¥1.15B
• ▍Net margin 23.2%

Revenue ¥1.45B; Operating income -¥63.6M.

• ▍Revenue ¥1.45B
• ▍Operating income -¥63.6M
• ▍Net margin -2.6%

Revenue ¥930.5M; Operating income -¥435.5M.

• ▍Revenue ¥930.5M
• ▍Operating income -¥435.5M
• ▍Net margin -31.0%

Revenue ¥3.40B; Operating income ¥1.28B.

• ▍Revenue ¥3.40B
• ▍Operating income ¥1.28B
• ▍Net margin 26.3%

Revenue ¥10.46B, +26,9% YoY; Operating income +44,7% YoY.

• ▍Revenue ¥10.46B, +26,9% YoY
• ▍Operating income +44,7% YoY
• ▍Net income +45,0% YoY
• ▍Free cash flow +81,5% YoY
• ▍Net margin 15.2%

Revenue ¥8.25B, +19,5% YoY; Operating income +52,0% YoY.

• ▍Revenue ¥8.25B, +19,5% YoY
• ▍Operating income +52,0% YoY
• ▍Net income +14,8% YoY
• ▍Free cash flow −1 047,2% YoY
• ▍Net margin 13.3%

Revenue ¥6.90B, +23,9% YoY; Operating income +566,7% YoY.

• ▍Revenue ¥6.90B, +23,9% YoY
• ▍Operating income +566,7% YoY
• ▍Net income +2 872,8% YoY
• ▍Free cash flow +235,6% YoY
• ▍Net margin 13.8%

Revenue ¥5.57B, +22,5% YoY; Operating income +131,1% YoY.

• ▍Revenue ¥5.57B, +22,5% YoY
• ▍Operating income +131,1% YoY
• ▍Net income +106,7% YoY
• ▍Free cash flow +93,4% YoY
• ▍Net margin 0.6%