# AMADA CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第88期(2025/04/01－2026/03/31) (S100YKCP)
> Page: https://vizora.meequs.com/en/company/amada
> Retrieved: 2026-09-30T19:09:21.103Z

## Company

Amada, founded in 1948, is a company in Machine Tools listed on TSE Prime. It has 9,872 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AMADA CO., LTD. |
| Ticker | 6113 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6113.T) |
| Listing | TSE Prime |
| Head office | 神奈川県伊勢原市石田200番地 |
| Representative (per filing) | 代表取締役社長執行役員 山梨貴昭 |
| Founded | Jun 1948 |
| Share capital | ¥54.8B |
| Employees (consolidated) | 9,872 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.amada.co.jp (https://www.amada.co.jp/) |
| Corporate number | 7021001020895 |
| EDINET | E01486 |
| Industries (Vizora) | Machine Tools |

> Profile source: annual securities report (S100YKCP, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 86.8 | 34 |
| Profitability | 72.1 | 34 |
| Cash conversion | 43.5 | 31 |
| Efficiency | 51.5 | 34 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 75% of Amada's sales come from Metalworking Machinery, with Metalworking Machine Tools and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +10.3% from the prior year, operating profit -8.7%.

## Company structure

- Segment revenue mix: Metalworking Machinery 74.6%、Metalworking Machine Tools 20.2%、Other 5.2%
- Revenue → net income: ¥437372000000 → ¥30757000000
- Net income → operating cash flow: ¥30757000000 → ¥58065000000（difference ¥27308000000）
- Main uses of operating cash flow: CapEx ¥9599000000 / dividends ¥19754000000 / buybacks ¥20005000000
- Change in cash: ¥48785000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥437.4B |  |
| Operating income | ¥44.8B | Margin 10.2% |
| Net income | ¥30.6B | Margin 7.0% |
| Free cash flow | ¥48.5B |  |
| Largest business | Metalworking Machinery | of segment revenue 74.6% |
| Employees (consolidated) | 9,872 |  |
| EPS | ¥96.67 |  |
| Book value per share | ¥1187.42 |  |
| Equity ratio | 69.4% | Derived from disclosed figures |
| Shares outstanding | 317,451,000 |  |
| Treasury shares | 6,760,400 |  |
| Shareholders | 35,645 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 19.9% | Cash ÷ revenue 35.1% |
| Vs. industry median margin | +3.1 pp | Machine Tools |
| ROE | 5.8% | Derived from disclosed figures |
| ROA | 4.3% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.0× dividends
- FY2026, one segment accounts for 80% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥250448000000 | ¥437372000000 | +74.6% |
| Operating income | ¥26705000000 | ¥44798000000 | +67.8% |
| Operating margin | 10.7% | 10.2% | -0.4 pp |
| Employees | 8,906 people | 9,872 people | +10.8% |
| Cash and equivalents | ¥75868000000 | ¥153626000000 | +102.5% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 金属加工機械 → 金属加工機械 | 74.6% |
| 金属加工機械 → 事業再編・廃止 | 6.4% |
| 金属工作機械 → 金属工作機械 | 18.4% |
| その他 → その他 | 0.5% |
| 新設・再編 → 金属工作機械 | 1.8% |
| 新設・再編 → その他 | 4.7% |

Segment revenue source references: 6 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Metalworking Machinery | 5 years | +10.0% | ¥326485000000 | 11.4% | 2 |
| Metalworking Machine Tools | 5 years | +13.9% | ¥88345000000 | 10.4% | 2 |
| Other | 5 years | +80.3% | ¥22541000000 | -7.5% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 437,372 | 100.0% | S100YKCP |
| Cost of revenue | 259,831 | 59.4% | S100YKCP |
| Gross profit | 177,540 | 40.6% | S100YKCP |
| SG&A | 134,177 | 30.7% | S100YKCP |
| Operating income | 44,798 | 10.2% | S100YKCP |
| Pretax income | 45,706 | 10.5% | S100YKCP |
| Income tax | 14,948 | 3.4% | S100YKCP |
| Net income | 30,757 | 7.0% | S100YKCP |
| Net income attributable to owners | 30,554 | 7.0% | S100YKCP |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 59 |
| SG&A | 31 |
| Operating income | 10 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 40.6% → Operating margin 10.2% → Net margin 7.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +10.3%; Core profit growth: -8.7%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.85×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 396,670 | 437,372 | 40,702 | +10.3% |
| Gross profit | 172,388 | 177,540 | 5,152 | +3.0% |
| Operating income | 49,076 | 44,798 | -4,278 | -8.7% |
| Net income attributable to owners | 32,386 | 30,554 | -1,832 | -5.7% |
| Operating cash flow | 46,192 | 58,065 | 11,873 | +25.7% |
| Free cash flow | 34,991 | 48,466 | 13,475 | +38.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2018 | 301,732 | — | — | 27,094 | 32,586 | — | S100PEFE |
| FY ending Mar 2019 | 338,175 | — | — | 33,303 | 39,982 | — | S100R73S |
| FY ending Mar 2020 | 320,112 | 34,682 | 10.8% | 23,390 | 32,455 | 1,150 | S100LOLZ |
| FY ending Mar 2021 | 250,448 | 26,705 | 10.7% | 18,564 | 57,579 | 37,875 | S100PEFE |
| FY ending Mar 2022 | 312,658 | 38,538 | 12.3% | 27,769 | 56,865 | 41,594 | S100R73S |
| FY ending Mar 2023 | 365,687 | 49,867 | 13.6% | 34,158 | 24,949 | 0 | S100TTTE |
| FY ending Mar 2024 | 403,500 | 56,507 | 14.0% | 40,638 | 47,595 | 31,550 | S100W4AI |
| FY ending Mar 2025 | 396,670 | 49,076 | 12.4% | 32,386 | 46,192 | 34,991 | S100YKCP |
| FY ending Mar 2026 | 437,372 | 44,798 | 10.2% | 30,554 | 58,065 | 48,466 | S100YKCP |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥44.3M |
| Operating income per employee (consolidated) | ¥4.5M |
| Net income per employee (consolidated) | ¥3.1M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 8,774 | 8,958 | 9,005 | 8,997 | 9,872 |
| Average salary (parent company) | ¥6.3M | ¥6.7M | ¥7M | ¥7.3M | ¥7.4M |
| Average age (parent company) | 43.2 years | 43.4 years | 43.7 years | 44.3 years | 44.6 years |
| Average tenure (parent company) | 17.6 years | 17.6 years | 17.9 years | 18.3 years | 18.5 years |

Year over year: Employees (consolidated) +9.7% · Revenue (consolidated) +10.3%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Metalworking Machinery | 326,485 | 74.6% | 37,333 | 11.4% |
| Metalworking Machine Tools | 88,345 | 20.2% | 9,161 | 10.4% |
| Other | 22,541 | 5.2% | -1,696 | -7.5% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Metalworking Machinery | 74.6% | 80.3% | 5.6 | 11.4% |
| Metalworking Machine Tools | 20.2% | 19.7% | -0.5 | 10.4% |
| Other | 5.2% | — | — | -7.5% |

Loss-making segment (excluded from profit shares): Other -1,696 JPY mn

Segment → industry: Other → Machine Tools / Metalworking Machine Tools → Machine Tools / Metalworking Machinery → Machine Tools

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 58,065 | 13.3% | S100YKCP |
| Capital expenditure | 9,599 | 2.2% | S100YKCP |
| Free cash flow | 48,466 | 11.1% | 算出 |
| Investing cash flow | -25,168 | -5.8% | S100YKCP |
| Financing cash flow | 13,741 | 3.1% | S100YKCP |
| Dividends paid | 19,754 | 4.5% | S100YKCP |
| Share buyback | 20,005 | 4.6% | S100YKCP |
| Change in cash | 48,785 | 11.2% | S100YKCP |
| Cash and equivalents | 153,626 | 35.1% | S100YKCP |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 106,791 | 98,556 | 93,420 | 104,841 | 153,626 | S100TTTE, S100W4AI, S100YKCP |
| Total assets | 614,439 | 647,562 | 681,053 | 649,891 | 772,109 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Net assets | 484,034 | 508,521 | 534,396 | 523,750 | 540,358 | S100TTTE, S100W4AI, S100YKCP |
| Share capital | 54,768 | 54,768 | 54,768 | 54,768 | 54,768 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Property, plant and equipment | 164,429 | 176,668 | 183,700 | 175,797 | 182,199 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Goodwill | 6,251 | 6,426 | 6,781 | 6,748 | 31,104 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Current assets | 364,132 | 398,716 | 429,309 | 414,511 | 498,034 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Total liabilities | 130,405 | 139,041 | 146,656 | 126,141 | 231,751 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Equity attributable to owners of parent | 479,788 | 504,127 | 529,661 | 519,212 | 535,467 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Retained earnings | 269,067 | 288,300 | 311,076 | 323,203 | 339,023 | S100R73S, S100TTTE, S100W4AI, S100YKCP |
| Treasury stock | -12,095 | -12,099 | -8,760 | -10,106 | -11,791 | S100R73S, S100TTTE, S100W4AI, S100YKCP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YKCP |
| Property, plant and equipment | 24% | S100YKCP |
| Intangibles and goodwill | 4% | — |
| Other assets | 52% | S100YKCP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 30% | S100YKCP |
| Equity | 70% | S100YKCP |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 614,439 | 647,562 | 681,053 | 649,891 | 772,109 |
| Equity | 484,034 | 508,521 | 534,396 | 523,750 | 540,358 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 106,791 | 98,556 | 93,420 | 104,841 | 153,626 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 41.7% | S100YKCP |
| Fixed assets ÷ total assets | 23.6% | S100YKCP |
| Goodwill ÷ parent equity | 5.8% | S100YKCP |

Goodwill over 4 years: 6,251 → 31,104 JPY; total investing cash flow: -53,749 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 19.9% |
| Cash ÷ revenue | 35.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 129.6% |
| Cash vs. profit gap | 27,511 JPY mn (of net income 90.0%) |
| Shareholder returns / net income | 130.1% |
| Shareholder returns / FCF | 82.0% |
| Shareholder payments — dividends / net income | 64.7% |
| Shareholder payments — dividends / FCF | 40.8% |
| CapEx intensity (capex ÷ revenue) | 2.2% |
| Investing CF relative to operating CF | 43.3% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 8.9% | 0.51× | 4.5% | 1.28× | 5.8% | S100R73S |
| 2023 | 9.3% | 0.58× | 5.4% | 1.28× | 6.9% | S100TTTE |
| 2024 | 10.1% | 0.61× | 6.1% | 1.29× | 7.9% | S100W4AI |
| 2025 | 8.2% | 0.60× | 4.9% | 1.27× | 6.2% | S100YKCP |
| 2026 | 7.0% | 0.62× | 4.3% | 1.35× | 5.8% | S100YKCP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 21.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 11.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 3.4% | 2026-03-31 |
| 公益財団法人天田財団 | Major shareholder | 3.2% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 2.5% | 2026-03-31 |
| ゴールドマン・サックス証券株式会社 ＢＮＹＭ | Major shareholder | 2.1% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口４） | Major shareholder | 1.9% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 1.3% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue grew +10.3% to ¥437.4B in FY ending Mar 2026, up from ¥396.7B.
- Profit went the other way: operating income fell -8.7% to ¥44.8B and net income fell -5.7% to ¥30.6B.
- Cash generation improved, with operating cash flow up +25.7% to ¥58.1B and free cash flow up +38.5% to ¥48.5B.

### Drivers

- Two acquisitions, press maker H&F and circuit-board drilling specialist Via Mechanics, added new revenue.
- Data center spending tied to the spread of AI supported sales, especially in Japan and North America.
- US tariffs and rising labor costs pushed operating income down.
- Tighter inventory control and faster collection of receivables raised operating cash flow.

### Risks

- The company says overall capital spending by manufacturers can move its results.
- Most sales are overseas, so conflicts, policy changes and exchange rates can affect results.
- Price competition is intense and could push selling prices down.

Cited: Annual securities report (88th term) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual securities report (88th term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第88期(2025/04/01－2026/03/31) | S100YKCP | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKCP,, |
| 有価証券報告書－第87期(2024/04/01－2025/03/31) | S100W4AI | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4AI,, |
| 有価証券報告書－第86期(2023/04/01－2024/03/31) | S100TTTE | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTTE,, |
| 有価証券報告書－第85期(2022/04/01－2023/03/31) | S100R73S | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R73S,, |
| 訂正有価証券報告書－第84期(令和3年4月1日－令和4年3月31日) | S100PEFE | 2022-10-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PEFE,, |
| 有価証券報告書－第83期(令和2年4月1日－令和3年3月31日) | S100LOLZ | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOLZ,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).