# AXYZ Co., Ltd: business model and financials

> Latest period: FY ending Jun 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第64期(2025/07/01－2026/06/30) (S100Z3O7)
> Page: https://vizora.meequs.com/en/company/axyz
> Retrieved: 2026-09-30T18:48:01.659Z

## Company

Axyz, founded in 1962, is a company in Electric Power & Gas listed on TSE Standard. It has 1,290 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | AXYZ Co.,Ltd. |
| Ticker | 1381 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1381.T) |
| Listing | TSE Standard |
| Head office | 鹿児島県鹿児島市草牟田二丁目1番8号 |
| Representative (per filing) | 代表取締役社長 伊地知 高正 |
| Founded | Nov 1962 |
| Share capital | ¥452M |
| Employees (consolidated) | 1,290 |
| Average salary (parent only) | ¥5.1M |
| Fiscal year end | June |
| Corporate number | 5340001000258 |
| EDINET | E00009 |
| Industries (Vizora) | Electric Power & Gas, Meat Processing, Livestock, Feed & Fertilizer, Fast Food & Quick Service |

> Profile source: annual securities report (S100Z3O7, filed 2026-09-24). As of filing

## Five-axis industry profile

Primary industry: Meat Processing (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 86.4 | 11 |
| Profitability | 95.5 | 11 |
| Cash conversion | 61.1 | 9 |
| Efficiency | 4.2 | 12 |

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 84% of Axyz's sales come from FoodBusiness, with FoodService and Energy Business making up much of the rest.
- Out of every ¥100 of sales, about ¥13 is left as operating profit.
- Revenue changed +10.7% from the prior year, operating profit +84.1%.

## Company structure

- Segment revenue mix: FoodBusiness 84.4%、FoodService 14.1%、Energy Business 1.6%
- Revenue → net income: ¥29244000000 → ¥2925000000
- Net income → operating cash flow: ¥2925000000 → ¥4885000000（difference ¥1960000000）
- Main uses of operating cash flow: CapEx ¥1521000000 / dividends ¥631000000 / buybacks ¥0
- Change in cash: ¥2679000000
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 | ¥29.2B |  |
| Operating income | ¥3.9B | Margin 13.4% |
| Net income | ¥2.92B | Margin 10.0% |
| Free cash flow | ¥3.36B |  |
| Largest business | FoodBusiness | of segment revenue 84.4% |
| Employees (consolidated) | 1,290 |  |
| EPS | ¥592.88 |  |
| Book value per share | ¥3828.49 |  |
| Equity ratio | 84.6% |  |
| Shares outstanding | 5,617,000 |  |
| Treasury shares | 1,800 |  |
| Shareholders | 1,823 |  |
| Average salary (parent only) | ¥5.1M | Filing company only |
| Cash ratio | 36.6% | Cash ÷ revenue 35.6% |
| Vs. industry median margin | +11.1 pp | Meat Processing |
| ROE | 13.0% | Derived from disclosed figures |
| ROA | 10.9% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 85% of positive segment profit
- FY2026, cash is 37% of total assets

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥21160000000 | ¥29244000000 | +38.2% |
| Operating income | ¥3372000000 | ¥3905000000 | +15.8% |
| Operating margin | 15.9% | 13.4% | -2.6 pp |
| Employees | 1,303 people | 1,290 people | -1.0% |
| Cash and equivalents | ¥7894000000 | ¥10412000000 | +31.9% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 食品 → 事業再編・廃止 | 80.6% |
| 外食 → 事業再編・廃止 | 14.7% |
| その他 → 事業再編・廃止 | 2.3% |
| エネルギー → 事業再編・廃止 | 2.3% |
| 新設・再編 → 食品 | 84.4% |
| 新設・再編 → 外食 | 14.1% |
| 新設・再編 → エネルギー | 1.6% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| FoodBusiness | 4 years | +8.2% | ¥24674000000 | 13.5% | 2 |
| FoodService | 4 years | +6.5% | ¥4112000000 | 5.6% | 2 |
| Energy Business | 4 years | -2.8% | ¥457000000 | 74.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,244 | 100.0% | S100Z3O7 |
| Cost of revenue | 20,343 | 69.6% | S100Z3O7 |
| Gross profit | 8,901 | 30.4% | S100Z3O7 |
| SG&A | 4,996 | 17.1% | S100Z3O7 |
| Operating income | 3,905 | 13.4% | S100Z3O7 |
| Ordinary income | 4,098 | 14.0% | S100Z3O7 |
| Pretax income | 4,093 | 14.0% | S100Z3O7 |
| Income tax | 1,168 | 4.0% | S100Z3O7 |
| Net income | 2,925 | 10.0% | S100Z3O7 |
| Net income attributable to owners | 2,925 | 10.0% | S100Z3O7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 70 |
| SG&A | 17 |
| Operating income | 13 |
| (Ref.) Net income | 10 |

### Margin funnel

Gross margin 30.4% → Operating margin 13.4% → Net margin 10.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.7%; Core profit growth: +84.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 7.89×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 26,426 | 29,244 | 2,818 | +10.7% |
| Gross profit | 6,663 | 8,901 | 2,238 | +33.6% |
| Operating income | 2,121 | 3,905 | 1,784 | +84.1% |
| Net income attributable to owners | 1,720 | 2,925 | 1,205 | +70.1% |
| Operating cash flow | 2,915 | 4,885 | 1,970 | +67.6% |
| Free cash flow | 870 | 3,364 | 2,494 | +286.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 19,770 | 2,736 | 13.8% | 1,973 | 2,757 | 1,635 | S100MHCR |
| FY ending Jun 2021 | 21,160 | 3,372 | 15.9% | 2,412 | 2,934 | 594 | S100P81H |
| FY ending Jun 2022 | 21,725 | 2,453 | 11.3% | 1,943 | 2,027 | -1,080 | S100RVVU |
| FY ending Jun 2023 | 24,101 | 1,911 | 7.9% | 1,410 | 2,635 | 501 | S100UEB6 |
| FY ending Jun 2024 | 25,836 | 1,570 | 6.1% | 1,239 | 3,729 | 1,569 | S100WPSG |
| FY ending Jun 2025 | 26,426 | 2,121 | 8.0% | 1,720 | 2,915 | 870 | S100Z3O7 |
| FY ending Jun 2026 | 29,244 | 3,905 | 13.4% | 2,925 | 4,885 | 3,364 | S100Z3O7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥22.7M |
| Operating income per employee (consolidated) | ¥3M |
| Net income per employee (consolidated) | ¥2.3M |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,263 | 1,247 | 1,320 | 1,282 | 1,290 |
| Average salary (parent company) | ¥4.5M | ¥4.5M | ¥4.9M | ¥4.9M | ¥5.1M |
| Average age (parent company) | 40.8 years | 43.1 years | 43.7 years | 42.9 years | 43.8 years |
| Average tenure (parent company) | 9.6 years | 9.8 years | 10.9 years | 10.0 years | 10.7 years |

Year over year: Employees (consolidated) +0.6% · Revenue (consolidated) +10.7%

## Segments（FY ending Jun 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| FoodBusiness | 24,674 | 84.4% | 3,332 | 13.5% |
| FoodService | 4,112 | 14.1% | 230 | 5.6% |
| Energy Business | 457 | 1.6% | 341 | 74.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| FoodBusiness | 84.4% | 85.4% | 1.0 | 13.5% |
| FoodService | 14.1% | 5.9% | -8.2 | 5.6% |
| Energy Business | 1.6% | 8.7% | 7.2 | 74.6% |

Segment → industry: Energy Business → Electric Power & Gas / FoodBusiness → Meat Processing / FoodBusiness → Livestock, Feed & Fertilizer / FoodService → Fast Food & Quick Service

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 4,885 | 16.7% | S100Z3O7 |
| Capital expenditure | 1,521 | 5.2% | S100Z3O7 |
| Free cash flow | 3,364 | 11.5% | 算出 |
| Investing cash flow | -1,534 | -5.2% | S100Z3O7 |
| Financing cash flow | -671 | -2.3% | S100Z3O7 |
| Dividends paid | 631 | 2.2% | S100Z3O7 |
| Share buyback | 0 | 0.0% | S100Z3O7 |
| Change in cash | 2,679 | 9.2% | S100Z3O7 |
| Cash and equivalents | 10,412 | 35.6% | S100Z3O7 |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 6,270 | 6,152 | 7,115 | 7,733 | 10,412 | S100UEB6, S100WPSG, S100Z3O7 |
| Total assets | 21,408 | 22,636 | 24,451 | 25,075 | 28,461 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Net assets | 18,772 | 19,750 | 20,723 | 21,601 | 24,084 | S100UEB6, S100WPSG, S100Z3O7 |
| Share capital | 452 | 452 | 452 | 452 | 452 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Property, plant and equipment | 9,466 | 10,037 | 10,918 | 10,886 | 10,918 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Intangible assets excluding goodwill | 1 | 7 | 14 | 27 | 20 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Goodwill | 0 | — | 2 | — | — | S100RVVU, S100WPSG |
| Investment securities | 523 | 699 | 1,122 | 631 | 938 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Current assets | 11,003 | 11,548 | 12,104 | 13,081 | 16,229 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Current liabilities | 2,202 | 2,353 | 3,174 | 2,945 | 3,815 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Bonds | 35 | 35 | — | 48 | 48 | S100RVVU, S100UEB6, S100Z3O7 |
| Total liabilities | 2,635 | 2,886 | 3,728 | 3,473 | 4,376 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Equity attributable to owners of parent | 18,656 | 19,533 | 20,230 | 21,398 | 23,691 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Retained earnings | 17,777 | 18,654 | 19,352 | 20,519 | 22,813 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |
| Treasury stock | -2 | -2 | -2 | -2 | -2 | S100RVVU, S100UEB6, S100WPSG, S100Z3O7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 37% | S100Z3O7 |
| Property, plant and equipment | 38% | S100Z3O7 |
| Intangibles and goodwill | 0% | S100Z3O7 |
| Investment securities | 3% | S100Z3O7 |
| Other assets | 22% | S100Z3O7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 15% | S100Z3O7 |
| Equity | 85% | S100Z3O7 |
| Other liabilities | 0% | S100Z3O7 |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 21,408 | 22,636 | 24,451 | 25,075 | 28,461 |
| Equity | 18,772 | 19,750 | 20,723 | 21,601 | 24,084 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,270 | 6,152 | 7,115 | 7,733 | 10,412 |

## 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) | 37.3% | S100Z3O7 |
| Fixed assets ÷ total assets | 38.4% | S100Z3O7 |
| Goodwill ÷ parent equity | — | —, S100Z3O7 |

### 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) | 36.6% |
| Cash ÷ revenue | 35.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 125.1% |
| Cash vs. profit gap | 1,960 JPY mn (of net income 67.0%) |
| Shareholder returns / net income | 21.6% |
| Shareholder returns / FCF | 18.8% |
| Shareholder payments — dividends / net income | 21.6% |
| Shareholder payments — dividends / FCF | 18.8% |
| CapEx intensity (capex ÷ revenue) | 5.2% |
| Investing CF relative to operating CF | 31.4% |

## 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% | 1.01× | 9.1% | 1.15× | 10.4% | S100RVVU |
| 2023 | 5.9% | 1.09× | 6.4% | 1.15× | 7.4% | S100UEB6 |
| 2024 | 4.8% | 1.10× | 5.3% | 1.18× | 6.2% | S100WPSG |
| 2025 | 6.5% | 1.07× | 6.9% | 1.19× | 8.3% | S100Z3O7 |
| 2026 | 10.0% | 1.09× | 10.9% | 1.19× | 13.0% | S100Z3O7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社照国興産 | Major shareholder | 10.7% | 2026-06-30 |
| 伊地知 芳正 | Major shareholder | 8.9% | 2026-06-30 |
| 伊地知 高正 | Major shareholder | 8.9% | 2026-06-30 |
| 日本ハム株式会社 | Major shareholder | 8.9% | 2026-06-30 |
| 株式会社鹿児島銀行 | Major shareholder | 5.0% | 2026-06-30 |
| 伊地知 恭正 | Major shareholder | 4.5% | 2026-06-30 |
| 伊地知 昭正 | Major shareholder | 4.5% | 2026-06-30 |
| 村尾 万紀子 | Major shareholder | 3.3% | 2026-06-30 |
| 伊地知 剛正 | Major shareholder | 3.3% | 2026-06-30 |
| 伊地知 洋正 | Major shareholder | 3.3% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第64期(2025/07/01－2026/06/30) | S100Z3O7 | 2026-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z3O7,, |
| 有価証券報告書－第63期(2024/07/01－2025/06/30) | S100WPSG | 2025-09-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WPSG,, |
| 有価証券報告書－第62期(2023/07/01－2024/06/30) | S100UEB6 | 2024-09-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UEB6,, |
| 有価証券報告書－第61期(2022/07/01－2023/06/30) | S100RVVU | 2023-09-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RVVU,, |
| 有価証券報告書－第60期(令和3年7月1日－令和4年6月30日) | S100P81H | 2022-09-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P81H,, |
| 訂正有価証券報告書－第59期(令和2年7月1日－令和3年6月30日) | S100MHCR | 2021-09-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MHCR,, |

## 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).