# Cleanup 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73期(2025/04/01－2026/03/31) (S100YHN2)
> Page: https://vizora.meequs.com/en/company/cleanup
> Retrieved: 2026-09-30T20:56:05.426Z

## Company

Cleanup, founded in 1954, is a company in Housing Equipment & Building Materials listed on TSE Prime. It has 3,483 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Cleanup Corporation |
| Ticker | 7955 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7955.T) |
| Listing | TSE Prime |
| Head office | 東京都荒川区西日暮里6丁目22番22号 |
| Representative (per filing) | 代表取締役 竹内 宏 |
| Founded | Oct 1954 |
| Share capital | ¥13.3B |
| Employees (consolidated) | 3,483 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | March |
| Website | cleanup.jp (https://cleanup.jp/) |
| Corporate number | 6011501006231 |
| EDINET | E02406 |
| Industries (Vizora) | Housing Equipment & Building Materials |

> Profile source: annual securities report (S100YHN2, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 72.3 | 56 |
| Profitability | 38.8 | 58 |
| Cash conversion | 51 | 50 |
| Efficiency | 95.7 | 58 |

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)

- Cleanup brought in ¥134.5B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +3.5% from the prior year, operating profit +90.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥134487000000 → ¥3475000000
- Net income → operating cash flow: ¥3475000000 → ¥4182000000（difference ¥707000000）
- Main uses of operating cash flow: CapEx ¥3523000000 / dividends ¥1118000000 / buybacks ¥774000000
- Change in cash: ¥607000000
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 | ¥134.5B |  |
| Operating income | ¥3.95B | Margin 2.9% |
| Net income | ¥3.48B | Margin 2.6% |
| Free cash flow | ¥659M |  |
| Employees (consolidated) | 3,483 |  |
| EPS | ¥94.77 |  |
| Book value per share | ¥1605.69 |  |
| Equity ratio | 64.7% |  |
| Shares outstanding | 36,442,374 |  |
| Treasury shares | 1,177,600 |  |
| Shareholders | 10,525 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 20.7% | Cash ÷ revenue 14.4% |
| Vs. industry median margin | -1.5 pp | Housing Equipment & Building Materials |
| ROE | 6.2% | Derived from disclosed figures |
| ROA | 3.8% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -1% while operating income rose 91%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥104185000000 | ¥134487000000 | +29.1% |
| Operating income | ¥2614000000 | ¥3948000000 | +51.0% |
| Operating margin | 2.5% | 2.9% | +0.4 pp |
| Employees | 3,454 people | 3,483 people | +0.8% |
| Cash and equivalents | ¥22361000000 | ¥19375000000 | -13.4% |

### 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 | 134,487 | 100.0% | S100YHN2 |
| Cost of revenue | 90,266 | 67.1% | S100YHN2 |
| Gross profit | 44,220 | 32.9% | S100YHN2 |
| SG&A | 40,272 | 29.9% | S100YHN2 |
| Operating income | 3,948 | 2.9% | S100YHN2 |
| Ordinary income | 4,454 | 3.3% | S100YHN2 |
| Pretax income | 4,406 | 3.3% | S100YHN2 |
| Income tax | 931 | 0.7% | S100YHN2 |
| Net income | 3,475 | 2.6% | S100YHN2 |
| Net income attributable to owners | 3,475 | 2.6% | S100YHN2 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 67 |
| SG&A | 30 |
| Operating income | 3 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 32.9% → Operating margin 2.9% → Net margin 2.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.5%; Core profit growth: +90.7%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 26.21×
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 | 129,987 | 134,487 | 4,500 | +3.5% |
| Gross profit | 41,123 | 44,220 | 3,097 | +7.5% |
| Operating income | 2,070 | 3,948 | 1,878 | +90.7% |
| Net income attributable to owners | 1,719 | 3,475 | 1,756 | +102.2% |
| Operating cash flow | 4,348 | 4,182 | -166 | -3.8% |
| Free cash flow | -127 | 659 | 786 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 107,525 | 2,499 | 2.3% | 1,465 | 6,780 | 4,619 | S100LNFK |
| FY ending Mar 2021 | 104,185 | 2,614 | 2.5% | 1,746 | 2,663 | 1,029 | S100OHBW |
| FY ending Mar 2022 | 113,305 | 3,795 | 3.3% | 3,155 | 5,783 | 2,925 | S100R4M2 |
| FY ending Mar 2023 | 124,012 | 3,014 | 2.4% | 2,523 | 4,303 | 918 | S100TRVM |
| FY ending Mar 2024 | 127,982 | 1,282 | 1.0% | 1,468 | 2,433 | -3,621 | S100W3K6 |
| FY ending Mar 2025 | 129,987 | 2,070 | 1.6% | 1,719 | 4,348 | -127 | S100YHN2 |
| FY ending Mar 2026 | 134,487 | 3,948 | 2.9% | 3,475 | 4,182 | 659 | S100YHN2 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥38.6M |
| Operating income per employee (consolidated) | ¥1.1M |
| Net income per employee (consolidated) | ¥997.7K |

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) | 3,469 | 3,456 | 3,503 | 3,516 | 3,483 |
| Average salary (parent company) | ¥5.3M | ¥5.4M | ¥5.4M | ¥5.4M | ¥5.6M |
| Average age (parent company) | 41.0 years | 41.1 years | 41.1 years | 41.0 years | 41.1 years |
| Average tenure (parent company) | 16.0 years | 16.0 years | 16.0 years | 15.1 years | 15.1 years |

Year over year: Employees (consolidated) -0.9% · Revenue (consolidated) +3.5%

## 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 | 4,182 | 3.1% | S100YHN2 |
| Capital expenditure | 3,523 | 2.6% | S100YHN2 |
| Free cash flow | 659 | 0.5% | 算出 |
| Investing cash flow | -2,862 | -2.1% | S100YHN2 |
| Financing cash flow | -750 | -0.6% | S100YHN2 |
| Dividends paid | 1,118 | 0.8% | S100YHN2 |
| Share buyback | 774 | 0.6% | S100YHN2 |
| Change in cash | 607 | 0.5% | S100YHN2 |
| Cash and equivalents | 19,375 | 14.4% | S100YHN2 |

## 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 | 21,986 | 22,034 | 18,580 | 18,767 | 19,375 | S100TRVM, S100W3K6, S100YHN2 |
| Total assets | 85,289 | 87,938 | 91,192 | 90,485 | 93,440 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Net assets | 54,636 | 55,857 | 56,669 | 57,097 | 60,444 | S100TRVM, S100W3K6, S100YHN2 |
| Share capital | 13,267 | 13,267 | 13,267 | 13,267 | 13,267 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Property, plant and equipment | 20,166 | 20,091 | 21,731 | 21,338 | 21,358 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Intangible assets excluding goodwill | 3,255 | 4,170 | 5,488 | 5,628 | 5,027 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Investment securities | 4,663 | 4,210 | 4,768 | 4,811 | 5,700 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Current assets | 54,236 | 56,787 | 55,769 | 55,467 | 56,637 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Current liabilities | 26,376 | 26,387 | 28,113 | 27,812 | 23,857 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Short-term borrowings | 1,500 | — | — | 1,500 | — | S100R4M2, S100YHN2 |
| Long-term borrowings | 334 | 1,682 | 2,340 | 1,840 | 4,563 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Total liabilities | 30,653 | 32,081 | 34,523 | 33,388 | 32,996 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Equity attributable to owners of parent | 53,133 | 54,698 | 54,566 | 55,167 | 56,750 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Retained earnings | 27,934 | 29,499 | 30,008 | 30,609 | 32,124 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |
| Treasury stock | -419 | -419 | -1,060 | -1,060 | -992 | S100R4M2, S100TRVM, S100W3K6, S100YHN2 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 21% | S100YHN2 |
| Property, plant and equipment | 23% | S100YHN2 |
| Intangibles and goodwill | 5% | S100YHN2 |
| Investment securities | 6% | S100YHN2 |
| Other assets | 45% | S100YHN2 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 35% | S100YHN2 |
| Equity | 65% | S100YHN2 |

### 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 | 85,289 | 87,938 | 91,192 | 90,485 | 93,440 |
| Equity | 54,636 | 55,857 | 56,669 | 57,097 | 60,444 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 21,986 | 22,034 | 18,580 | 18,767 | 19,375 |

## 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) | 15.9% | S100YHN2 |
| Fixed assets ÷ total assets | 22.9% | S100YHN2 |
| Goodwill ÷ parent equity | — | —, S100YHN2 |

### 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) | 20.7% |
| Cash ÷ revenue | 14.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 105.9% |
| Cash vs. profit gap | 707 JPY mn (of net income 20.3%) |
| Shareholder returns / net income | 54.4% |
| Shareholder returns / FCF | 287.1% |
| Shareholder payments — dividends / net income | 32.2% |
| Shareholder payments — dividends / FCF | 169.7% |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | 68.4% |

## 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 | 2.8% | 1.33× | 3.7% | 1.61× | 5.9% | S100R4M2 |
| 2023 | 2.0% | 1.43× | 2.9% | 1.61× | 4.7% | S100TRVM |
| 2024 | 1.1% | 1.43× | 1.6% | 1.64× | 2.7% | S100W3K6 |
| 2025 | 1.3% | 1.43× | 1.9% | 1.66× | 3.1% | S100YHN2 |
| 2026 | 2.6% | 1.46× | 3.8% | 1.64× | 6.2% | S100YHN2 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社井上 | Major shareholder | 24.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社 | Major shareholder | 7.0% | 2026-03-31 |
| クリナップ真栄会 | Major shareholder | 6.8% | 2026-03-31 |
| クリナップ共進会 | Major shareholder | 6.5% | 2026-03-31 |
| 株式会社タカヤス | Major shareholder | 5.3% | 2026-03-31 |
| クリナップ社員持株会 | Major shareholder | 5.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY （常任代理人 株式会社みずほ銀行） | Major shareholder | 2.5% | 2026-03-31 |
| JP MORGAN CHASE BANK （常任代理人 株式会社みずほ銀行） | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社ミツウロコグループホールディングス | Major shareholder | 1.7% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第73期(2025/04/01－2026/03/31) | S100YHN2 | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHN2,, |
| 有価証券報告書－第72期(2024/04/01－2025/03/31) | S100W3K6 | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3K6,, |
| 有価証券報告書－第71期(2023/04/01－2024/03/31) | S100TRVM | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRVM,, |
| 有価証券報告書－第70期(2022/04/01－2023/03/31) | S100R4M2 | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4M2,, |
| 有価証券報告書－第69期(令和3年4月1日－令和4年3月31日) | S100OHBW | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHBW,, |
| 有価証券報告書－第68期(令和2年4月1日－令和3年3月31日) | S100LNFK | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNFK,, |

## 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).