# Chuo Gyorui Co., Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第79期(2025/04/01－2026/03/31) (S100YTB5)
> Page: https://vizora.meequs.com/en/company/chuo-gyorui
> Retrieved: 2026-09-30T21:37:52.188Z

## Company

Chuo Gyorui, founded in 1947, is a company in Real Estate Development & Leasing listed on TSE Standard. It has 794 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Chuo Gyorui Co., Ltd. |
| Ticker | 8030 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8030.T) |
| Listing | TSE Standard |
| Head office | 東京都江東区豊洲6丁目6番2号 |
| Representative (per filing) | 代表取締役社長執行役員 今村 忠如 |
| Founded | Jul 1947 |
| Share capital | ¥3B |
| Employees (consolidated) | 794 |
| Average salary (parent only) | ¥6.7M |
| Fiscal year end | March |
| Website | www.chuogyorui.com (https://www.chuogyorui.com/) |
| Corporate number | 5010001034859 |
| EDINET | E02566 |
| Industries (Vizora) | Real Estate Development & Leasing, Specialty Trading & Wholesale, Warehouses & Logistics Facilities |

> Profile source: annual securities report (S100YTB5, filed 2026-07-30). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 7 | 179 |
| Profitability | 35.4 | 185 |
| Cash conversion | 12.6 | 179 |
| Efficiency | 75.4 | 185 |

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 94% of Chuo Gyorui's sales come from Marine product wholesale, with Stock freezer and cargo work making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +5.8% from the prior year, operating profit +1.4%.

## Company structure

- Segment revenue mix: Marine product wholesale 94.1%、Stock freezer 5.1%、cargo work 0.4%、Real estate rental 0.4%
- Revenue → net income: ¥158598000000 → ¥3084000000
- Net income → operating cash flow: ¥3084000000 → ¥70000000（difference ¥-3014000000）
- Main uses of operating cash flow: CapEx ¥1447000000 / dividends ¥479000000 / buybacks ¥0
- Change in cash: ¥1877000000
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 | ¥158.6B |  |
| Operating income | ¥3.27B | Margin 2.1% |
| Net income | ¥2.94B | Margin 1.9% |
| Free cash flow | -¥1.38B |  |
| Largest business | Marine product wholesale | of segment revenue 94.1% |
| Employees (consolidated) | 794 |  |
| EPS | ¥486.23 |  |
| Book value per share | ¥6786.48 |  |
| Equity ratio | 44.1% |  |
| Shares outstanding | 4,315,300 |  |
| Treasury shares | 321,100 |  |
| Shareholders | 5,590 |  |
| Average salary (parent only) | ¥6.7M | Filing company only |
| Cash ratio | 8.9% | Cash ÷ revenue 4.7% |
| Vs. industry median margin | -0.8 pp | Specialty Trading & Wholesale |
| ROE | 11.1% | Derived from disclosed figures |
| ROA | 3.7% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by -37 points
- FY2026, employees -2% while operating income rose 1%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥187697000000 | ¥158598000000 | -15.5% |
| Operating income | ¥1422000000 | ¥3273000000 | +130.2% |
| Operating margin | 0.8% | 2.1% | +1.3 pp |
| Employees | 775 people | 794 people | +2.5% |
| Cash and equivalents | ¥9579000000 | ¥7396000000 | -22.8% |

### 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 |
| --- | ---: |
| 水産物卸売事業 → 水産物卸売事業 | 94.1% |
| 水産物卸売事業 → 事業再編・廃止 | 1.7% |
| 冷蔵倉庫事業 → 冷蔵倉庫事業 | 3.6% |
| 不動産賃貸事業 → 不動産賃貸事業 | 0.3% |
| 荷役事業 → 荷役事業 | 0.2% |
| 新設・再編 → 冷蔵倉庫事業 | 1.4% |
| 新設・再編 → 不動産賃貸事業 | 0.1% |
| 新設・再編 → 荷役事業 | 0.2% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Marine product wholesale | 5 years | -3.7% | ¥149281000000 | 1.2% | 2 |
| Stock freezer | 5 years | +3.3% | ¥8043000000 | 9.7% | 2 |
| cargo work | 5 years | +10.4% | ¥687000000 | 4.7% | 2 |
| Real estate rental | 5 years | +0.9% | ¥586000000 | 100.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 158,598 | 100.0% | S100YTB5 |
| Cost of revenue | 143,191 | 90.3% | S100YTB5 |
| Gross profit | 15,407 | 9.7% | S100YTB5 |
| SG&A | 12,134 | 7.7% | S100YTB5 |
| Operating income | 3,273 | 2.1% | S100YTB5 |
| Ordinary income | 3,746 | 2.4% | S100YTB5 |
| Pretax income | 4,309 | 2.7% | S100YTB5 |
| Income tax | 1,225 | 0.8% | S100YTB5 |
| Net income | 3,084 | 1.9% | S100YTB5 |
| Net income attributable to owners | 2,945 | 1.9% | S100YTB5 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 90 |
| SG&A | 8 |
| Operating income | 2 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 9.7% → Operating margin 2.1% → Net margin 1.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +5.8%; Core profit growth: +1.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.23×
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 | 149,902 | 158,598 | 8,696 | +5.8% |
| Gross profit | 14,657 | 15,407 | 750 | +5.1% |
| Operating income | 3,229 | 3,273 | 44 | +1.4% |
| Net income attributable to owners | 2,901 | 2,945 | 44 | +1.5% |
| Operating cash flow | 3,919 | 70 | -3,849 | -98.2% |
| Free cash flow | 3,051 | -1,377 | -4,428 | -145.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 193,923 | 1,095 | 0.6% | 683 | 5,791 | 2,262 | S100LUQL |
| FY ending Mar 2021 | 187,697 | 1,422 | 0.8% | 1,256 | 5,421 | 3,989 | S100OE18 |
| FY ending Mar 2022 | 121,842 | 1,981 | 1.6% | 1,152 | -814 | -2,674 | S100R286 |
| FY ending Mar 2023 | 137,482 | 2,014 | 1.5% | 1,387 | 3,342 | 2,357 | S100TWCW |
| FY ending Mar 2024 | 137,588 | 2,465 | 1.8% | 2,134 | 3,593 | 2,184 | S100W7AF |
| FY ending Mar 2025 | 149,902 | 3,229 | 2.2% | 2,901 | 3,919 | 3,051 | S100YTB5 |
| FY ending Mar 2026 | 158,598 | 3,273 | 2.1% | 2,945 | 70 | -1,377 | S100YTB5 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥199.7M |
| Operating income per employee (consolidated) | ¥4.1M |
| Net income per employee (consolidated) | ¥3.7M |

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) | 799 | 760 | 782 | 807 | 794 |
| Average salary (parent company) | ¥5.7M | ¥5.8M | ¥6.4M | ¥6.7M | ¥6.7M |
| Average age (parent company) | 43.8 years | 44.3 years | 44.5 years | 44.6 years | 44.2 years |
| Average tenure (parent company) | 14.7 years | 13.8 years | 13.8 years | 14.7 years | 14.8 years |

Year over year: Employees (consolidated) -1.6% · Revenue (consolidated) +5.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Marine product wholesale | 149,281 | 94.1% | 1,864 | 1.2% |
| Stock freezer | 8,043 | 5.1% | 783 | 9.7% |
| Real estate rental | 586 | 0.4% | 590 | 100.7% |
| cargo work | 687 | 0.4% | 32 | 4.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Marine product wholesale | 94.1% | 57.0% | -37.1 | 1.2% |
| Stock freezer | 5.1% | 24.0% | 18.9 | 9.7% |
| Real estate rental | 0.4% | 18.0% | 17.7 | 100.7% |
| cargo work | 0.4% | 1.0% | 0.5 | 4.7% |

Segment → industry: Real estate rental → Real Estate Development & Leasing / Marine product wholesale → Specialty Trading & Wholesale / cargo work → Warehouses & Logistics Facilities / Stock freezer → Warehouses & Logistics Facilities

## 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 | 70 | 0.0% | S100YTB5 |
| Capital expenditure | 1,447 | 0.9% | S100YTB5 |
| Free cash flow | -1,377 | -0.9% | 算出 |
| Investing cash flow | -656 | -0.4% | S100YTB5 |
| Financing cash flow | 2,463 | 1.6% | S100YTB5 |
| Dividends paid | 479 | 0.3% | S100YTB5 |
| Share buyback | 0 | 0.0% | S100YTB5 |
| Change in cash | 1,877 | 1.2% | S100YTB5 |
| Cash and equivalents | 7,396 | 4.7% | S100YTB5 |

## 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 | 7,532 | 8,350 | 7,096 | 5,519 | 7,396 | S100TWCW, S100W7AF, S100YTB5 |
| Total assets | 71,613 | 73,293 | 78,415 | 74,760 | 83,121 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Net assets | 29,031 | 26,121 | 30,999 | 33,811 | 38,488 | S100TWCW, S100W7AF, S100YTB5 |
| Share capital | 2,995 | 2,995 | 2,995 | 2,995 | 2,995 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Property, plant and equipment | 30,940 | 30,113 | 28,845 | 27,385 | 26,972 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Intangible assets excluding goodwill | 2,949 | 3,259 | 3,706 | 3,676 | 3,617 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Goodwill | 28 | — | — | — | — | S100R286 |
| Investment securities | 7,833 | 8,683 | 12,525 | 12,514 | 15,560 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Current assets | 28,402 | 29,815 | 31,803 | 29,590 | 35,349 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Current liabilities | 19,980 | 23,960 | 25,419 | 21,449 | 25,966 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Trade payables | 10,097 | 10,790 | 13,057 | 11,434 | 11,228 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Short-term borrowings | 4,400 | 7,050 | 6,100 | 3,525 | 9,075 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Long-term borrowings | 18,538 | 18,848 | 16,207 | 13,614 | 11,631 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Total liabilities | 42,582 | 47,172 | 47,415 | 40,948 | 44,633 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Non-controlling interests | 4,597 | 1,646 | 1,673 | 1,774 | 1,844 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Equity attributable to owners of parent | 21,285 | 20,865 | 22,738 | 25,319 | 27,785 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Retained earnings | 17,636 | 18,570 | 20,425 | 23,007 | 25,473 | S100R286, S100TWCW, S100W7AF, S100YTB5 |
| Treasury stock | -695 | -700 | -700 | -701 | -701 | S100R286, S100TWCW, S100W7AF, S100YTB5 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 9% | S100YTB5 |
| Property, plant and equipment | 32% | S100YTB5 |
| Intangibles and goodwill | 4% | S100YTB5 |
| Investment securities | 19% | S100YTB5 |
| Other assets | 36% | S100YTB5 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 14% | S100YTB5 |
| Other liabilities | 40% | S100YTB5 |
| Equity | 46% | S100YTB5 |

### 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 | 71,613 | 73,293 | 78,415 | 74,760 | 83,121 |
| Equity | 29,031 | 26,121 | 30,999 | 33,811 | 38,488 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,532 | 8,350 | 7,096 | 5,519 | 7,396 |

## 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) | 17.0% | S100YTB5 |
| Fixed assets ÷ total assets | 32.4% | S100YTB5 |
| Goodwill ÷ parent equity | — | —, S100YTB5 |

### 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) | 8.9% |
| Cash ÷ revenue | 4.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 2.1% |
| Cash vs. profit gap | -2,875 JPY mn (of net income -97.6%) |
| Shareholder returns / net income | 16.3% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 16.3% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.9% |
| Investing CF relative to operating CF | 937.1% |

## 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 | 0.9% | 1.70× | 1.6% | 3.36× | 5.4% | S100R286 |
| 2023 | 1.0% | 1.90× | 1.9% | 3.44× | 6.6% | S100TWCW |
| 2024 | 1.6% | 1.81× | 2.8% | 3.48× | 9.8% | S100W7AF |
| 2025 | 1.9% | 1.96× | 3.8% | 3.19× | 12.1% | S100YTB5 |
| 2026 | 1.9% | 2.01× | 3.7% | 2.97× | 11.1% | S100YTB5 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ニッスイ | Major shareholder | 12.0% | 2026-03-31 |
| 株式会社足利本店 | Major shareholder | 7.6% | 2026-03-31 |
| 株式会社極洋 | Major shareholder | 5.4% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 4.5% | 2026-03-31 |
| 株式会社みずほ銀行 （常任代理人 (株)日本カストディ銀行） | Major shareholder | 4.5% | 2026-03-31 |
| 東洋水産株式会社 | Major shareholder | 4.0% | 2026-03-31 |
| 株式会社築地蟹商 | Major shareholder | 2.7% | 2026-03-31 |
| 伊藤 裕康 | Major shareholder | 2.5% | 2026-03-31 |
| INTERACTIVE BROKERS LLC （常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社ニチレイフレッシュ | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第79期(2025/04/01－2026/03/31) | S100YTB5 | 2026-07-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YTB5,, |
| 有価証券報告書－第78期(2024/04/01－2025/03/31) | S100W7AF | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7AF,, |
| 有価証券報告書－第77期(2023/04/01－2024/03/31) | S100TWCW | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWCW,, |
| 有価証券報告書－第76期(2022/04/01－2023/03/31) | S100R286 | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R286,, |
| 有価証券報告書－第75期(令和3年4月1日－令和4年3月31日) | S100OE18 | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OE18,, |
| 有価証券報告書－第74期(令和2年4月1日－令和3年3月31日) | S100LUQL | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUQL,, |

## 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).