# Canon Marketing Japan Inc.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第58期(2025/01/01－2025/12/31) (S100XS8C)
> Page: https://vizora.meequs.com/en/company/canon-marketing-japan
> Retrieved: 2026-09-30T18:29:26.529Z

## Company

Canon Marketing Japan, founded in 1968, is a company in Cameras & Optics listed on TSE Prime. It has 18,425 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Canon Marketing Japan Inc. |
| Ticker | 8060 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8060.T) |
| Listing | TSE Prime |
| Head office | 東京都港区港南二丁目16番6号 |
| Representative (per filing) | 代表取締役社長 足立正親 |
| Founded | Feb 1968 |
| Share capital | ¥73.3B |
| Employees (consolidated) | 18,425 |
| Average salary (parent only) | ¥8.5M |
| Fiscal year end | December |
| Corporate number | 5010401008297 |
| EDINET | E02644 |
| Industries (Vizora) | Cameras & Optics, IT Services & System Integration, Printers & Office Equipment, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100XS8C, filed 2026-03-24). As of filing

## Five-axis industry profile

Primary industry: IT Services & System Integration (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 22.6 | 157 |
| Profitability | 46.7 | 196 |
| Cash conversion | 45.7 | 185 |
| Efficiency | 49.2 | 196 |

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 37% of Canon Marketing Japan's sales come from Enterprise, with Area and Consumers making up much of the rest.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +4.0% from the prior year, operating profit +9.5%.

## Company structure

- Segment revenue mix: Enterprise 37.3%、Area 33.7%、Consumers 21.3%、Professional 7.0%、Other 0.7%
- Revenue → net income: ¥679799000000 → ¥41544000000
- Net income → operating cash flow: ¥41544000000 → ¥45912000000（difference ¥4368000000）
- Main uses of operating cash flow: CapEx ¥17739000000 / dividends ¥16330000000 / buybacks ¥11073000000
- Change in cash: ¥49347000000
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 | ¥679.8B |  |
| Operating income | ¥58.2B | Margin 8.6% |
| Net income | ¥41.5B | Margin 6.1% |
| Free cash flow | ¥28.2B |  |
| Largest business | Enterprise | of segment revenue 37.3% |
| Employees (consolidated) | 18,425 |  |
| EPS | ¥350.21 |  |
| Diluted EPS | ¥350.07 |  |
| Book value per share | ¥2955.58 |  |
| Equity ratio | 73.1% |  |
| Shares outstanding | 111,079,972 |  |
| Treasury shares | 3,866,600 |  |
| Shareholders | 9,034 |  |
| Average salary (parent only) | ¥8.5M | Filing company only |
| Cash ratio | 28.4% | Cash ÷ revenue 23.5% |
| Vs. industry median margin | -0.4 pp | IT Services & System Integration |
| ROE | 11.7% | Derived from disclosed figures |
| ROA | 7.6% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 28% of total assets

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥545060000000 | ¥679799000000 | +24.7% |
| Operating income | ¥31317000000 | ¥58188000000 | +85.8% |
| Operating margin | 5.7% | 8.6% | +2.8 pp |
| Employees | 16,544 people | 18,425 people | +11.4% |
| Cash and equivalents | ¥60131000000 | ¥160073000000 | +166.2% |

### Change in segment revenue mix

Span: FY ending Dec 2020 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| コンスーマ → コンスーマ | 21.3% |
| コンスーマ → 事業再編・廃止 | 1.6% |
| エンタープライズ → エンタープライズ | 32.0% |
| エリア → エリア | 33.7% |
| エリア → 事業再編・廃止 | 5.5% |
| プロフェッショナル → プロフェッショナル | 5.4% |
| その他 → その他 | 0.5% |
| 新設・再編 → エンタープライズ | 5.3% |
| 新設・再編 → プロフェッショナル | 1.6% |
| 新設・再編 → その他 | 0.2% |

Segment revenue source references: 10 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Enterprise | 5 years | +7.8% | ¥253509000000 | 8.3% | 2 |
| Area | 5 years | +1.4% | ¥229066000000 | 9.7% | 2 |
| Consumers | 5 years | +3.0% | ¥144782000000 | 9.0% | 2 |
| Professional | 5 years | +10.2% | ¥47484000000 | 11.7% | 2 |
| Other | 5 years | +11.4% | ¥4956000000 | -78.1% | 2 |

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 679,799 | 100.0% | S100XS8C |
| Cost of revenue | 462,103 | 68.0% | S100XS8C |
| Gross profit | 217,695 | 32.0% | S100XS8C |
| SG&A | 159,507 | 23.5% | S100XS8C |
| Operating income | 58,188 | 8.6% | S100XS8C |
| Ordinary income | 59,839 | 8.8% | S100XS8C |
| Pretax income | 60,630 | 8.9% | S100XS8C |
| Income tax | 19,086 | 2.8% | S100XS8C |
| Net income | 41,544 | 6.1% | S100XS8C |
| Net income attributable to owners | 41,458 | 6.1% | S100XS8C |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 68 |
| SG&A | 23 |
| Operating income | 9 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 32.0% → Operating margin 8.6% → Net margin 6.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.0%; Core profit growth: +9.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.41×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 653,919 | 679,799 | 25,880 | +4.0% |
| Gross profit | 210,847 | 217,695 | 6,848 | +3.2% |
| Operating income | 53,123 | 58,188 | 5,065 | +9.5% |
| Net income attributable to owners | 39,315 | 41,458 | 2,143 | +5.5% |
| Operating cash flow | 47,667 | 45,912 | -1,755 | -3.7% |
| Free cash flow | 35,419 | 28,173 | -7,246 | -20.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 621,134 | 32,439 | 5.2% | 22,250 | 22,052 | 8,951 | S100L0O4 |
| FY ending Dec 2020 | 545,060 | 31,317 | 5.7% | 21,997 | 38,490 | 20,066 | S100P6ED |
| FY ending Dec 2021 | 552,085 | 39,699 | 7.2% | 29,420 | 32,756 | 15,927 | S100QGGJ |
| FY ending Dec 2022 | 588,132 | 49,947 | 8.5% | 35,552 | 37,725 | 27,942 | S100T53R |
| FY ending Dec 2023 | 609,473 | 52,495 | 8.6% | 36,493 | 28,182 | 17,879 | S100VG7L |
| FY ending Dec 2024 | 653,919 | 53,123 | 8.1% | 39,315 | 47,667 | 35,419 | S100XS8C |
| FY ending Dec 2025 | 679,799 | 58,188 | 8.6% | 41,458 | 45,912 | 28,173 | S100XS8C |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥36.9M |
| Operating income per employee (consolidated) | ¥3.2M |
| 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 16,220 | 15,973 | 16,089 | 18,395 | 18,425 |
| Average salary (parent company) | ¥8.7M | ¥8.6M | ¥8.4M | ¥8.3M | ¥8.5M |
| Average age (parent company) | 48.5 years | 48.8 years | 48.8 years | 48.7 years | 48.4 years |
| Average tenure (parent company) | 25.0 years | 25.3 years | 25.2 years | 25.0 years | 24.6 years |

Year over year: Employees (consolidated) +0.2% · Revenue (consolidated) +4.0%

## Segments（FY ending Dec 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Consumers | 144,782 | 21.3% | 13,021 | 9.0% |
| Enterprise | 253,509 | 37.3% | 21,086 | 8.3% |
| Area | 229,066 | 33.7% | 22,324 | 9.7% |
| Professional | 47,484 | 7.0% | 5,545 | 11.7% |
| Other | 4,956 | 0.7% | -3,872 | -78.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Consumers | 21.3% | 21.0% | -0.3 | 9.0% |
| Enterprise | 37.3% | 34.0% | -3.3 | 8.3% |
| Area | 33.7% | 36.0% | 2.3 | 9.7% |
| Professional | 7.0% | 8.9% | 2.0 | 11.7% |
| Other | 0.7% | — | — | -78.1% |

Loss-making segment (excluded from profit shares): Other -3,872 JPY mn

Segment → industry: Consumers → Cameras & Optics / Area → IT Services & System Integration / Enterprise → IT Services & System Integration / Professional → Printers & Office Equipment / Professional → Specialty Trading & Wholesale / Consumers → Specialty Trading & Wholesale

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 45,912 | 6.8% | S100XS8C |
| Capital expenditure | 17,739 | 2.6% | S100XS8C |
| Free cash flow | 28,173 | 4.1% | 算出 |
| Investing cash flow | 31,055 | 4.6% | S100XS8C |
| Financing cash flow | -27,657 | -4.1% | S100XS8C |
| Dividends paid | 16,330 | 2.4% | S100XS8C |
| Share buyback | 11,073 | 1.6% | S100XS8C |
| Change in cash | 49,347 | 7.3% | S100XS8C |
| Cash and equivalents | 160,073 | 23.5% | S100XS8C |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 68,028 | 84,632 | 89,690 | 110,726 | 160,073 | S100T53R, S100VG7L, S100XS8C |
| Total assets | 526,418 | 543,740 | 557,366 | 524,591 | 564,426 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Net assets | 374,676 | 400,372 | 435,509 | 383,701 | 413,814 | S100T53R, S100VG7L, S100XS8C |
| Share capital | 73,303 | 73,303 | 73,303 | 73,303 | 73,303 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Trade receivables | 107,367 | — | — | — | — | S100QGGJ |
| Property, plant and equipment | 85,154 | 85,276 | 85,024 | 88,101 | 86,797 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Intangible assets excluding goodwill | 6,530 | 5,995 | 14,181 | 49,033 | 51,961 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Goodwill | — | 327 | 4,868 | 22,637 | 20,774 | S100T53R, S100VG7L, S100XS8C |
| Investment securities | 17,353 | 13,312 | 16,314 | 17,771 | 21,971 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Current assets | 396,082 | 419,708 | 418,611 | 332,185 | 339,646 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Current liabilities | 107,109 | 108,062 | 110,590 | 123,539 | 125,081 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Trade payables | 46,323 | 47,376 | 45,552 | 50,124 | 52,125 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Short-term borrowings | — | — | — | 1,100 | 1,100 | S100XS8C |
| Long-term borrowings | — | — | — | 1,699 | 1,489 | S100XS8C |
| Total liabilities | 151,741 | 143,368 | 121,856 | 140,889 | 150,612 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Non-controlling interests | 727 | 801 | 729 | 849 | 917 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Equity attributable to owners of parent | 362,859 | 387,392 | 410,817 | 347,637 | 361,696 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Retained earnings | 208,824 | 233,354 | 256,880 | 200,928 | 226,048 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |
| Treasury stock | -2,092 | -2,092 | -2,092 | -9,303 | -20,365 | S100QGGJ, S100T53R, S100VG7L, S100XS8C |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100XS8C |
| Property, plant and equipment | 15% | S100XS8C |
| Intangibles and goodwill | 13% | S100XS8C |
| Investment securities | 4% | S100XS8C |
| Other assets | 40% | S100XS8C |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 9% | S100XS8C |
| Other liabilities | 18% | S100XS8C |
| Equity | 73% | S100XS8C |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 526,418 | 543,740 | 557,366 | 524,591 | 564,426 |
| Equity | 374,676 | 400,372 | 435,509 | 383,701 | 413,814 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 68,028 | 84,632 | 89,690 | 110,726 | 160,073 |

## 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) | 12.8% | S100XS8C |
| Fixed assets ÷ total assets | 15.4% | S100XS8C |
| Goodwill ÷ parent equity | 5.7% | S100XS8C |

### 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) | 28.4% |
| Cash ÷ revenue | 23.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 78.9% |
| Cash vs. profit gap | 4,454 JPY mn (of net income 10.7%) |
| Shareholder returns / net income | 66.1% |
| Shareholder returns / FCF | 97.3% |
| Shareholder payments — dividends / net income | 39.4% |
| Shareholder payments — dividends / FCF | 58.0% |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | 67.6% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 5.3% | 1.05× | 5.6% | 1.45× | 8.1% | S100QGGJ |
| 2022 | 6.0% | 1.10× | 6.6% | 1.43× | 9.5% | S100T53R |
| 2023 | 6.0% | 1.11× | 6.6% | 1.38× | 9.1% | S100VG7L |
| 2024 | 6.0% | 1.21× | 7.3% | 1.43× | 10.4% | S100XS8C |
| 2025 | 6.1% | 1.25× | 7.6% | 1.54× | 11.7% | S100XS8C |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| キヤノン㈱ | Major shareholder | 52.0% | 2025-12-31 |
| 日本マスタートラスト信託銀行㈱(信託口) | Major shareholder | 6.8% | 2025-12-31 |
| キヤノンマーケティングジャパングループ社員持株会 | Major shareholder | 4.6% | 2025-12-31 |
| ㈱日本カストディ銀行(信託口) | Major shareholder | 3.5% | 2025-12-31 |
| ステート ストリート バンク アンド トラスト カンパニー 505001(常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 1.7% | 2025-12-31 |
| キヤノンマーケティングジャパン取引先持株会 | Major shareholder | 1.1% | 2025-12-31 |
| CEPLUX- THE INDEPENDENT UCITS PLATFORM 2 (常任代理人 シティバンク、エヌ・エイ東京支店) | Major shareholder | 1.0% | 2025-12-31 |
| ㈱みずほ銀行 | Major shareholder | 0.9% | 2025-12-31 |
| ザ バンク オブ ニユーヨーク トリーテイー ジヤスデツク アカウント(常任代理人 ㈱三菱UFJ銀行) | Major shareholder | 0.8% | 2025-12-31 |
| ジェーピー モルガン チェース バンク 385781 (常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 0.6% | 2025-12-31 |

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

- Revenue for FY ending Dec 2025 was ¥679.8B, up +4.0% from ¥653.9B.
- Operating income grew faster, from ¥53.1B to ¥58.2B (+9.5%), and net income rose +5.5% to ¥41.5B.
- Free cash flow fell -20.5%, from ¥35.4B to ¥28.2B.

### Drivers

- Maintenance, operations and outsourcing services grew steadily, along with IT product and system sales
- Business PC replacements brought more contracts for security software and IT support packages for small firms, lifting Area segment profit
- A gain from selling cross-held shares offset the loss of a one-off gain on a subsidiary sale booked the year before

### Risks

- Less office printing may keep shrinking copier maintenance and printer supply sales
- The industrial equipment business depends heavily on chipmakers' capital spending
- The company buys much of its product from its parent, Canon, so a shift in Canon's strategy would hit it hard

Cited: Annual securities report (FY ending Dec 2025) (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 (FY ending Dec 2025) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第58期(2025/01/01－2025/12/31) | S100XS8C | 2026-03-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XS8C,, |
| 有価証券報告書－第57期(2024/01/01－2024/12/31) | S100VG7L | 2025-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VG7L,, |
| 有価証券報告書－第56期(2023/01/01－2023/12/31) | S100T53R | 2024-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T53R,, |
| 有価証券報告書－第55期(2022/01/01－2022/12/31) | S100QGGJ | 2023-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QGGJ,, |
| 訂正有価証券報告書－第54期(令和3年1月1日－令和3年12月31日) | S100P6ED | 2022-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P6ED,, |
| 有価証券報告書－第53期(令和2年1月1日－令和2年12月31日) | S100L0O4 | 2021-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L0O4,, |

## 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).