# Asahi Diamond Industrial Co.,Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第107期(2025/04/01－2026/03/31) (S100YJMM)
> Page: https://vizora.meequs.com/en/company/asahi-diamond-industrial
> Retrieved: 2026-09-30T20:32:38.632Z

## Company

Asahi Diamond Industrial, founded in 1937, is a company in Machine Tools listed on TSE Prime. It has 2,040 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Asahi Diamond Industrial Co., Ltd. |
| Ticker | 6140 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6140.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区麹町二丁目4番地1 (2026年5月5日から本店所在地 東京都千代田区紀尾井町4番1号が上記のように移転しております。) |
| Representative (per filing) | 代表取締役社長 片岡和喜 |
| Founded | Oct 1937 |
| Share capital | ¥4.1B |
| Employees (consolidated) | 2,040 |
| Average salary (parent only) | ¥7M |
| Fiscal year end | March |
| Website | www.asahidia.co.jp (https://www.asahidia.co.jp/) |
| Corporate number | 4010001008954 |
| EDINET | E01499 |
| Industries (Vizora) | Machine Tools |

> Profile source: annual securities report (S100YJMM, filed 2026-06-25). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 57.4 | 34 |
| Profitability | 42.6 | 34 |
| Cash conversion | 82.3 | 31 |
| Efficiency | 36.8 | 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)

- Asahi Diamond Industrial brought in ¥42B in revenue.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +2.4% from the prior year, operating profit +4.0%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥41983000000 → ¥2067000000
- Net income → operating cash flow: ¥2067000000 → ¥5412000000（difference ¥3345000000）
- Main uses of operating cash flow: CapEx ¥2956000000 / dividends ¥1511000000 / buybacks ¥2489000000
- Change in cash: ¥1346000000
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 | ¥42B |  |
| Operating income | ¥2.4B | Margin 5.7% |
| Net income | ¥2.01B | Margin 4.8% |
| Free cash flow | ¥2.46B |  |
| Employees (consolidated) | 2,040 |  |
| EPS | ¥28.42 |  |
| Book value per share | ¥928.56 |  |
| Equity ratio | 78.5% |  |
| Shares outstanding | 48,430,000 |  |
| Treasury shares | 6,700 |  |
| Shareholders | 41,747 |  |
| Average salary (parent only) | ¥7M | Filing company only |
| Cash ratio | 20.4% | Cash ÷ revenue 38.5% |
| Vs. industry median margin | -1.4 pp | Machine Tools |
| ROE | 3.7% | Derived from disclosed figures |
| ROA | 2.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.7× net income
- FY2026, buybacks were 1.6× dividends
- FY2026, employees -1% while operating income rose 4%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥30143000000 | ¥41983000000 | +39.3% |
| Operating income | ¥-732000000 | ¥2403000000 | — |
| Operating margin | -2.4% | 5.7% | +8.2 pp |
| Employees | 2,050 people | 2,040 people | -0.5% |
| Cash and equivalents | ¥10649000000 | ¥16156000000 | +51.7% |

### 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.

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 41,983 | 100.0% | S100YJMM |
| Cost of revenue | 30,164 | 71.8% | S100YJMM |
| Gross profit | 11,819 | 28.2% | S100YJMM |
| SG&A | 9,415 | 22.4% | S100YJMM |
| Operating income | 2,403 | 5.7% | S100YJMM |
| Ordinary income | 3,346 | 8.0% | S100YJMM |
| Pretax income | 3,378 | 8.0% | S100YJMM |
| Income tax | 1,310 | 3.1% | S100YJMM |
| Net income | 2,067 | 4.9% | S100YJMM |
| Net income attributable to owners | 2,009 | 4.8% | S100YJMM |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 72 |
| SG&A | 22 |
| Operating income | 6 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 28.2% → Operating margin 5.7% → Net margin 4.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.4%; Core profit growth: +4.0%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.67×
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 | 41,006 | 41,983 | 977 | +2.4% |
| Gross profit | 11,302 | 11,819 | 517 | +4.6% |
| Operating income | 2,311 | 2,403 | 92 | +4.0% |
| Net income attributable to owners | 2,493 | 2,009 | -484 | -19.4% |
| Operating cash flow | 5,765 | 5,412 | -353 | -6.1% |
| Free cash flow | 766 | 2,456 | 1,690 | +220.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 35,304 | 294 | 0.8% | -340 | 4,805 | -763 | S100LP97 |
| FY ending Mar 2021 | 30,143 | -732 | -2.4% | -331 | -90 | -6,546 | S100OEJL |
| FY ending Mar 2022 | 37,161 | 2,811 | 7.6% | 3,288 | 5,948 | 4,247 | S100R5WT |
| FY ending Mar 2023 | 39,320 | 2,506 | 6.4% | 2,765 | 4,979 | 3,081 | S100TTSO |
| FY ending Mar 2024 | 38,653 | 1,526 | 3.9% | 2,109 | 2,839 | -1,836 | S100W3H3 |
| FY ending Mar 2025 | 41,006 | 2,311 | 5.6% | 2,493 | 5,765 | 766 | S100YJMM |
| FY ending Mar 2026 | 41,983 | 2,403 | 5.7% | 2,009 | 5,412 | 2,456 | S100YJMM |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥20.6M |
| Operating income per employee (consolidated) | ¥1.2M |
| Net income per employee (consolidated) | ¥984.8K |

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) | 2,057 | 2,037 | 2,059 | 2,064 | 2,040 |
| Average salary (parent company) | ¥6.5M | ¥6.8M | ¥6.8M | ¥6.9M | ¥7M |
| Average age (parent company) | 43.7 years | 44.4 years | 44.5 years | 44.8 years | 44.9 years |
| Average tenure (parent company) | 20.7 years | 21.2 years | 21.1 years | 21.0 years | 21.0 years |

Year over year: Employees (consolidated) -1.2% · Revenue (consolidated) +2.4%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 5,412 | 12.9% | S100YJMM |
| Capital expenditure | 2,956 | 7.0% | S100YJMM |
| Free cash flow | 2,456 | 5.8% | 算出 |
| Investing cash flow | -2,120 | -5.0% | S100YJMM |
| Financing cash flow | -1,883 | -4.5% | S100YJMM |
| Dividends paid | 1,511 | 3.6% | S100YJMM |
| Share buyback | 2,489 | 5.9% | S100YJMM |
| Change in cash | 1,346 | 3.2% | S100YJMM |
| Cash and equivalents | 16,156 | 38.5% | S100YJMM |

## 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 | 15,548 | 16,389 | 12,818 | 14,810 | 16,156 | S100TTSO, S100W3H3, S100YJMM |
| Total assets | 72,241 | 74,177 | 73,901 | 76,351 | 79,203 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Net assets | 60,869 | 62,882 | 63,993 | 63,579 | 64,133 | S100TTSO, S100W3H3, S100YJMM |
| Share capital | 4,102 | 4,102 | 4,102 | 4,102 | 4,102 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Trade receivables | 10,642 | 10,059 | 10,387 | 10,038 | 10,757 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Property, plant and equipment | 25,434 | 25,061 | 26,655 | 28,845 | 26,443 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Intangible assets excluding goodwill | 240 | 190 | 351 | 408 | 1,057 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Investment securities | 10,715 | 12,861 | 13,164 | 10,778 | 13,252 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Current assets | 33,361 | 34,301 | 32,601 | 34,456 | 36,841 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Current liabilities | 5,081 | 5,255 | 6,185 | 6,640 | 6,712 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Trade payables | 1,489 | 1,477 | 1,424 | 1,658 | 1,733 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Short-term borrowings | 210 | 179 | 544 | 234 | 44 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Long-term borrowings | — | — | — | 2,000 | 4,500 | S100YJMM |
| Total liabilities | 11,372 | 11,295 | 9,908 | 12,772 | 15,070 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Non-controlling interests | 1,577 | 1,709 | 1,752 | 1,927 | 1,924 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Equity attributable to owners of parent | 56,263 | 56,032 | 54,829 | 55,615 | 53,620 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Retained earnings | 45,166 | 45,048 | 43,846 | 44,783 | 42,581 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |
| Treasury stock | -134 | -247 | -248 | -423 | -217 | S100R5WT, S100TTSO, S100W3H3, S100YJMM |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YJMM |
| Receivables | 14% | S100YJMM |
| Property, plant and equipment | 33% | S100YJMM |
| Intangibles and goodwill | 1% | S100YJMM |
| Investment securities | 17% | S100YJMM |
| Other assets | 15% | S100YJMM |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 2% | S100YJMM |
| Other liabilities | 17% | S100YJMM |
| Equity | 81% | S100YJMM |

### 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 | 72,241 | 74,177 | 73,901 | 76,351 | 79,203 |
| Equity | 60,869 | 62,882 | 63,993 | 63,579 | 64,133 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 15,548 | 16,389 | 12,818 | 14,810 | 16,156 |

## 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) | 63.0% | S100YJMM |
| Fixed assets ÷ total assets | 33.4% | S100YJMM |
| Goodwill ÷ parent equity | — | —, S100YJMM |

### 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) | 20.4% |
| Cash ÷ revenue | 38.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 225.2% |
| Cash vs. profit gap | 3,403 JPY mn (of net income 169.4%) |
| Shareholder returns / net income | 199.1% |
| Shareholder returns / FCF | 162.9% |
| Shareholder payments — dividends / net income | 75.2% |
| Shareholder payments — dividends / FCF | 61.5% |
| CapEx intensity (capex ÷ revenue) | 7.0% |
| Investing CF relative to operating CF | 39.2% |

## 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 | 8.8% | 0.51× | 4.6% | 1.28× | 5.8% | S100R5WT |
| 2023 | 7.0% | 0.54× | 3.8% | 1.30× | 4.9% | S100TTSO |
| 2024 | 5.5% | 0.52× | 2.8% | 1.34× | 3.8% | S100W3H3 |
| 2025 | 6.1% | 0.55× | 3.3% | 1.36× | 4.5% | S100YJMM |
| 2026 | 4.8% | 0.54× | 2.6% | 1.42× | 3.7% | S100YJMM |

## 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 | 9.3% | 2026-03-31 |
| 旭ダイヤモンド社員持株会 | Major shareholder | 4.2% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.5% | 2026-03-31 |
| 旭ダイヤ共栄持株会 | Major shareholder | 2.8% | 2026-03-31 |
| 日本生命保険相互会社(常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 2.1% | 2026-03-31 |
| ユニオンツール株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 1.5% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 1.4% | 2026-03-31 |
| JP JPMSE LUX RE BARCLAYS CAPITAL SEC LTD EQ CO(常任代理人 株式会社三菱ＵＦＪ銀行) | Major shareholder | 1.1% | 2026-03-31 |
| THE BANK OF NEW YORK MELLON 140044(常任代理人 株式会社みずほ銀行) | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第107期(2025/04/01－2026/03/31) | S100YJMM | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJMM,, |
| 有価証券報告書－第106期(2024/04/01－2025/03/31) | S100W3H3 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3H3,, |
| 有価証券報告書－第105期(2023/04/01－2024/03/31) | S100TTSO | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTSO,, |
| 有価証券報告書－第104期(2022/04/01－2023/03/31) | S100R5WT | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5WT,, |
| 有価証券報告書－第103期(令和3年4月1日－令和4年3月31日) | S100OEJL | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEJL,, |
| 有価証券報告書－第102期(令和2年4月1日－令和3年3月31日) | S100LP97 | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LP97,, |

## 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).