# BIKEN TECHNO CORPORATION: 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63期(2025/04/01－2026/03/31) (S100YJP6)
> Page: https://vizora.meequs.com/en/company/biken-techno
> Retrieved: 2026-09-30T17:49:13.205Z

## Company

Biken Techno, founded in 1963, is a company in Real Estate Development & Leasing listed on TSE Standard. It has 2,427 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | BIKEN TECHNO CORPORATION |
| Ticker | 9791 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9791.T) |
| Listing | TSE Standard |
| Head office | 大阪府吹田市南金田2丁目12番1号 |
| Representative (per filing) | 代表取締役社長 梶山 龍誠 |
| Founded | May 1963 |
| Share capital | ¥1.81B |
| Employees (consolidated) | 2,427 |
| Average salary (parent only) | ¥4M |
| Fiscal year end | March |
| Website | www.bikentechno.co.jp (https://www.bikentechno.co.jp/) |
| Corporate number | 5120901008067 |
| EDINET | E04932 |
| Industries (Vizora) | Real Estate Development & Leasing, Real Estate Brokerage & Management, Fast Food & Quick Service, Hotels & Inns, Nursing Care |

> Profile source: annual securities report (S100YJP6, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Real Estate Brokerage & Management (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 6 | 25 |
| Profitability | 25 | 26 |
| Cash conversion | 40.4 | 26 |
| Efficiency | 48.1 | 26 |

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 87% of Biken Techno's sales come from Building maintenance business, with Real estate business and Hotel business making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +5.3% from the prior year, operating profit +44.0%.

## Company structure

- Segment revenue mix: Building maintenance business 86.9%、Real estate business 4.9%、Hotel business 2.7%、Franchise business 2.4%、Nursing care business 2.3%
- Revenue → net income: ¥36505822000 → ¥1421703000
- Net income → operating cash flow: ¥1421703000 → ¥1578547000（difference ¥156844000）
- Main uses of operating cash flow: CapEx ¥921358000 / dividends ¥242634000 / buybacks —
- Change in cash: ¥-1798221000
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 | ¥36.5B |  |
| Operating income | ¥2.05B | Margin 5.6% |
| Net income | ¥1.42B | Margin 3.9% |
| Free cash flow | ¥657.2M |  |
| Largest business | Building maintenance business | of segment revenue 86.9% |
| Employees (consolidated) | 2,427 |  |
| EPS | ¥131.78 |  |
| Book value per share | ¥2384.12 |  |
| Equity ratio | 58.9% |  |
| Shares outstanding | 7,718,000 |  |
| Treasury shares | 179,300 |  |
| Shareholders | 1,746 |  |
| Average salary (parent only) | ¥4M | Filing company only |
| Cash ratio | 19.4% | Cash ÷ revenue 20.6% |
| Vs. industry median margin | -3.4 pp | Real Estate Brokerage & Management |
| ROE | 6.4% | Derived from disclosed figures |
| ROA | 3.6% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 82% of positive segment profit
- FY2026, employees -4% while operating income rose 44%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥34603438000 | ¥36505822000 | +5.5% |
| Operating income | ¥1121956000 | ¥2052042000 | +82.9% |
| Operating margin | 3.2% | 5.6% | +2.4 pp |
| Employees | 2,263 people | 2,427 people | +7.2% |
| Cash and equivalents | ¥6654518000 | ¥7523983000 | +13.1% |

### 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 |
| --- | ---: |
| ビルメンテナンス事業 → ビルメンテナンス事業 | 72.0% |
| 不動産事業 → 不動産事業 | 4.9% |
| 不動産事業 → 事業再編・廃止 | 15.6% |
| 介護事業 → 介護事業 | 2.3% |
| 介護事業 → 事業再編・廃止 | 0.7% |
| フランチャイズ事業 → フランチャイズ事業 | 2.4% |
| フランチャイズ事業 → 事業再編・廃止 | 0.6% |
| ホテル事業 → ホテル事業 | 0.5% |
| その他 → その他 | 0.8% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → ビルメンテナンス事業 | 14.9% |
| 新設・再編 → ホテル事業 | 2.2% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Building maintenance business | 5 years | +4.9% | ¥31731877000 | 11.4% | 2 |
| Real estate business | 5 years | -24.2% | ¥1778234000 | 27.9% | 2 |
| Hotel business | 5 years | +40.2% | ¥977960000 | 33.2% | 2 |
| Franchise business | 5 years | -3.4% | ¥876815000 | -0.2% | 2 |
| Nursing care business | 5 years | -4.1% | ¥838121000 | -18.3% | 2 |
| Other | 5 years | -2.0% | ¥302811000 | -0.2% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 36,506 | 100.0% | S100YJP6 |
| Cost of revenue | 28,357 | 77.7% | S100YJP6 |
| Gross profit | 8,149 | 22.3% | S100YJP6 |
| SG&A | 6,097 | 16.7% | S100YJP6 |
| Operating income | 2,052 | 5.6% | S100YJP6 |
| Ordinary income | 2,209 | 6.1% | S100YJP6 |
| Pretax income | 2,211 | 6.1% | S100YJP6 |
| Income tax | 789 | 2.2% | S100YJP6 |
| Net income | 1,422 | 3.9% | S100YJP6 |
| Net income attributable to owners | 1,422 | 3.9% | S100YJP6 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 17 |
| Operating income | 5 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 22.3% → Operating margin 5.6% → Net margin 3.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +5.3%; Core profit growth: +44.0%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 8.31×
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 | 34,669 | 36,506 | 1,837 | +5.3% |
| Gross profit | 7,432 | 8,149 | 717 | +9.6% |
| Operating income | 1,425 | 2,052 | 627 | +44.0% |
| Net income attributable to owners | 979 | 1,422 | 443 | +45.2% |
| Operating cash flow | -2,152 | 1,579 | 3,730 | — |
| Free cash flow | -2,565 | 657 | 3,222 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 36,847 | 2,052 | 5.6% | 1,001 | 182 | -99 | S100LSTC |
| FY ending Mar 2021 | 34,603 | 1,122 | 3.2% | 1,048 | 5,478 | 5,361 | S100OKXJ |
| FY ending Mar 2022 | 31,394 | 1,414 | 4.5% | 1,357 | -488 | -782 | S100R5Z9 |
| FY ending Mar 2023 | 34,690 | 1,968 | 5.7% | 1,670 | 2,530 | 2,226 | S100TW6Z |
| FY ending Mar 2024 | 38,372 | 2,131 | 5.6% | 1,310 | 3,506 | 1,056 | S100WGU0 |
| FY ending Mar 2025 | 34,669 | 1,425 | 4.1% | 979 | -2,152 | -2,565 | S100YJP6 |
| FY ending Mar 2026 | 36,506 | 2,052 | 5.6% | 1,422 | 1,579 | 657 | S100YJP6 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥15M |
| Operating income per employee (consolidated) | ¥845.5K |
| Net income per employee (consolidated) | ¥585.8K |

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) | 2,498 | 2,573 | 2,517 | 2,538 | 2,427 |
| Average salary (parent company) | ¥3.6M | ¥3.6M | ¥3.8M | ¥3.8M | ¥4M |
| Average age (parent company) | 53.4 years | 53.6 years | 53.0 years | 52.2 years | 52.1 years |
| Average tenure (parent company) | 8.7 years | 8.7 years | 9.1 years | 9.0 years | 9.6 years |

Year over year: Employees (consolidated) -4.4% · Revenue (consolidated) +5.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Building maintenance business | 31,732 | 86.9% | 3,628 | 11.4% |
| Real estate business | 1,778 | 4.9% | 497 | 27.9% |
| Nursing care business | 838 | 2.3% | -154 | -18.3% |
| Franchise business | 877 | 2.4% | -1 | -0.2% |
| Hotel business | 978 | 2.7% | 325 | 33.2% |
| Other | 303 | 0.8% | -0 | -0.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Building maintenance business | 86.9% | 81.5% | -5.4 | 11.4% |
| Real estate business | 4.9% | 11.2% | 6.3 | 27.9% |
| Nursing care business | 2.3% | — | — | -18.3% |
| Franchise business | 2.4% | — | — | -0.2% |
| Hotel business | 2.7% | 7.3% | 4.6 | 33.2% |
| Other | 0.8% | — | — | -0.2% |

Loss-making segment (excluded from profit shares): Nursing care business -154 JPY mn

Loss-making segment (excluded from profit shares): Franchise business -1 JPY mn

Loss-making segment (excluded from profit shares): Other -0 JPY mn

Segment → industry: Real estate business → Real Estate Development & Leasing / Building maintenance business → Real Estate Brokerage & Management / Franchise business → Fast Food & Quick Service / Hotel business → Hotels & Inns / Nursing care business → Nursing Care

## 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 | 1,579 | 4.3% | S100YJP6 |
| Capital expenditure | 921 | 2.5% | S100YJP6 |
| Free cash flow | 657 | 1.8% | 算出 |
| Investing cash flow | -673 | -1.8% | S100YJP6 |
| Financing cash flow | -2,708 | -7.4% | S100YJP6 |
| Dividends paid | 243 | 0.7% | S100YJP6 |
| Change in cash | -1,798 | -4.9% | S100YJP6 |
| Cash and equivalents | 7,524 | 20.6% | S100YJP6 |

## 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 | 7,140 | 7,788 | 10,780 | 9,322 | 7,524 | S100TW6Z, S100WGU0, S100YJP6 |
| Total assets | 39,741 | 39,240 | 41,183 | 40,351 | 38,858 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Net assets | 18,293 | 19,672 | 20,806 | 21,651 | 22,872 | S100TW6Z, S100WGU0, S100YJP6 |
| Share capital | 1,809 | 1,809 | 1,809 | 1,809 | 1,809 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Property, plant and equipment | 15,635 | 15,462 | 15,212 | 15,229 | 15,494 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Intangible assets excluding goodwill | 1,027 | 913 | 859 | 762 | 663 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Goodwill | 831 | 727 | 624 | 521 | 418 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Investment securities | 1,225 | 1,383 | 1,835 | 1,792 | 2,045 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Current assets | 18,593 | 18,279 | 20,125 | 20,677 | 18,420 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Current liabilities | 12,249 | 10,882 | 10,696 | 10,588 | 8,921 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Trade payables | 2,147 | 2,181 | 2,757 | 2,730 | 1,603 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Short-term borrowings | 3,200 | 1,800 | 600 | 1,700 | 700 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Long-term borrowings | 7,303 | 6,982 | 7,956 | 6,306 | 5,144 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Total liabilities | 21,448 | 19,568 | 20,376 | 18,701 | 15,986 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Equity attributable to owners of parent | 18,230 | 19,729 | 20,829 | 21,596 | 22,777 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Retained earnings | 14,807 | 16,326 | 17,425 | 18,193 | 19,373 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |
| Treasury stock | -79 | -79 | -79 | -79 | -79 | S100R5Z9, S100TW6Z, S100WGU0, S100YJP6 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YJP6 |
| Property, plant and equipment | 40% | S100YJP6 |
| Intangibles and goodwill | 3% | S100YJP6 |
| Investment securities | 5% | S100YJP6 |
| Other assets | 33% | S100YJP6 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YJP6 |
| Other liabilities | 37% | S100YJP6 |
| Equity | 59% | S100YJP6 |

### 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 | 39,741 | 39,240 | 41,183 | 40,351 | 38,858 |
| Equity | 18,293 | 19,672 | 20,806 | 21,651 | 22,872 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,140 | 7,788 | 10,780 | 9,322 | 7,524 |

## 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) | 42.4% | S100YJP6 |
| Fixed assets ÷ total assets | 39.9% | S100YJP6 |
| Goodwill ÷ parent equity | 1.8% | S100YJP6 |

Goodwill over 4 years: 831 → 418 JPY; total investing cash flow: 378 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) | 19.4% |
| Cash ÷ revenue | 20.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 76.9% |
| Cash vs. profit gap | 157 JPY mn (of net income 11.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 17.1% |
| Shareholder payments — dividends / FCF | 36.9% |
| CapEx intensity (capex ÷ revenue) | 2.5% |
| Investing CF relative to operating CF | 42.6% |

## 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 | 4.3% | 0.79× | 3.4% | 2.18× | 7.4% | S100R5Z9 |
| 2023 | 4.8% | 0.88× | 4.2% | 2.08× | 8.8% | S100TW6Z |
| 2024 | 3.4% | 0.95× | 3.3% | 1.98× | 6.5% | S100WGU0 |
| 2025 | 2.8% | 0.85× | 2.4% | 1.92× | 4.6% | S100YJP6 |
| 2026 | 3.9% | 0.92× | 3.6% | 1.79× | 6.4% | S100YJP6 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社東洋商事 | Major shareholder | 28.4% | 2026-03-31 |
| ビケンテクノ取引先持株会 | Major shareholder | 13.0% | 2026-03-31 |
| 公益財団法人梶山高志・ビケンテクノ奨学財団 | Major shareholder | 7.1% | 2026-03-31 |
| 内藤征吾 | Major shareholder | 3.1% | 2026-03-31 |
| 梶山龍誠 | Major shareholder | 3.0% | 2026-03-31 |
| 梶山孝清 | Major shareholder | 3.0% | 2026-03-31 |
| 上田八木短資株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| アース環境サービス株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| ビケンテクノ社員持株会 | Major shareholder | 2.0% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 1.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YJP6 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJP6,, |
| 訂正有価証券報告書－第62期(2024/04/01－2025/03/31) | S100WGU0 | 2025-09-02 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WGU0,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TW6Z | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW6Z,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R5Z9 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5Z9,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OKXJ | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKXJ,, |
| 有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LSTC | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSTC,, |

## 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).