# DAIICHI JITSUGYO CO., LTD.: 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103期(2025/04/01－2026/03/31) (S100YGOV)
> Page: https://vizora.meequs.com/en/company/daiichi-jitsugyo
> Retrieved: 2026-09-30T21:04:58.085Z

## Company

Daiichi Jitsugyo, founded in 1948, is a company in Specialty Trading & Wholesale listed on TSE Prime. It has 1,564 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAIICHI JITSUGYO CO., LTD. |
| Ticker | 8059 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8059.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区神田駿河台4丁目6番地(御茶ノ水ソラシティ) |
| Representative (per filing) | 代表取締役 社長執行役員 船渡雄司 |
| Founded | Aug 1948 |
| Share capital | ¥5.11B |
| Employees (consolidated) | 1,564 |
| Average salary (parent only) | ¥9.7M |
| Fiscal year end | March |
| Website | www.djk.co.jp (https://www.djk.co.jp/) |
| Corporate number | 5010001008714 |
| EDINET | E02578 |
| Industries (Vizora) | Specialty Trading & Wholesale, Leasing |

> Profile source: annual securities report (S100YGOV, filed 2026-06-23). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 80.7 | 179 |
| Profitability | 84.6 | 185 |
| Cash conversion | 61.7 | 179 |
| Efficiency | 30 | 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 23% of Daiichi Jitsugyo's sales come from Electronics business, with Construction in progress - automobile and Energy solutions business making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed -1.2% from the prior year, operating profit +4.5%.

## Company structure

- Segment revenue mix: Electronics business 23.3%、Construction in progress - automobile 19.4%、Energy solutions business 18.3%、Industrial machinery 12.4%、Healthcare business 10.9%
- Revenue → net income: ¥219140000000 → ¥10005000000
- Net income → operating cash flow: ¥10005000000 → ¥16136000000（difference ¥6131000000）
- Main uses of operating cash flow: CapEx ¥910000000 / dividends ¥3250000000 / buybacks ¥0
- Change in cash: ¥17946000000
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 | ¥219.1B |  |
| Operating income | ¥13.7B | Margin 6.2% |
| Net income | ¥9.95B | Margin 4.5% |
| Free cash flow | ¥15.2B |  |
| Largest business | Electronics business | of segment revenue 23.3% |
| Employees (consolidated) | 1,564 |  |
| EPS | ¥265.04 |  |
| Diluted EPS | ¥264.37 |  |
| Book value per share | ¥1997.61 |  |
| Equity ratio | 51.5% |  |
| Shares outstanding | 32,759,000 |  |
| Treasury shares | 830,300 |  |
| Shareholders | 4,382 |  |
| Average salary (parent only) | ¥9.7M | Filing company only |
| Cash ratio | 29.5% | Cash ÷ revenue 23.7% |
| Vs. industry median margin | +3.4 pp | Specialty Trading & Wholesale |
| ROE | 13.4% | Derived from disclosed figures |
| ROA | 5.7% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 30% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥140029000000 | ¥219140000000 | +56.5% |
| Operating income | ¥5729000000 | ¥13696000000 | +139.1% |
| Operating margin | 4.1% | 6.2% | +2.2 pp |
| Employees | 1,229 people | 1,564 people | +27.3% |
| Cash and equivalents | ¥31267000000 | ¥51829000000 | +65.8% |

### 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 |
| --- | ---: |
| プラント・エネルギー事業 → プラント・エネルギー事業 | 10.2% |
| プラント・エネルギー事業 → 事業再編・廃止 | 2.5% |
| プラント・エネルギー事業 → 事業再編・廃止 | 18.0% |
| エナジーソリューションズ事業 → エナジーソリューションズ事業 | 5.4% |
| 産業機械事業 → 産業機械事業 | 8.0% |
| エレクトロニクス事業 → 事業再編・廃止 | 16.0% |
| エレクトロニクス事業 → エレクトロニクス事業 | 16.0% |
| 自動車事業 → 自動車事業 | 14.3% |
| ヘルスケア事業 → ヘルスケア事業 | 4.8% |
| 航空事業 → 事業再編・廃止 | 2.3% |
| 航空・インフラ事業 → 航空・インフラ事業 | 2.3% |
| その他 → その他 | 0.0% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → エナジーソリューションズ事業 | 12.9% |
| 新設・再編 → 産業機械事業 | 4.4% |
| 新設・再編 → エレクトロニクス事業 | 7.3% |
| 新設・再編 → 自動車事業 | 5.1% |
| 新設・再編 → ヘルスケア事業 | 6.0% |
| 新設・再編 → 航空・インフラ事業 | 3.2% |

Segment revenue source references: 19 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Electronics business | 5 years | +7.7% | ¥51073000000 | 5.4% | 2 |
| Construction in progress - automobile | 5 years | +6.2% | ¥42508000000 | 6.1% | 2 |
| Energy solutions business | 5 years | +27.7% | ¥40044000000 | 6.6% | 2 |
| Industrial machinery | 5 years | +9.0% | ¥27210000000 | 2.7% | 2 |
| Healthcare business | 5 years | +17.5% | ¥23826000000 | 10.1% | 2 |
| Plant and energy business | 5 years | -4.3% | ¥22415000000 | 7.2% | 2 |
| Aviation Social infrastructure business | 5 years | +18.8% | ¥11990000000 | 8.7% | 2 |
| Other | 5 years | -22.5% | ¥71000000 | 78.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 219,140 | 100.0% | S100YGOV |
| Cost of revenue | 180,030 | 82.2% | S100YGOV |
| Gross profit | 39,109 | 17.8% | S100YGOV |
| SG&A | 25,413 | 11.6% | S100YGOV |
| Operating income | 13,696 | 6.2% | S100YGOV |
| Ordinary income | 14,353 | 6.5% | S100YGOV |
| Pretax income | 14,665 | 6.7% | S100YGOV |
| Income tax | 4,659 | 2.1% | S100YGOV |
| Net income | 10,005 | 4.6% | S100YGOV |
| Net income attributable to owners | 9,951 | 4.5% | S100YGOV |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 12 |
| Operating income | 6 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 17.8% → Operating margin 6.2% → Net margin 4.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -1.2%; Core profit growth: +4.5%
Operating leverage (core profit growth ÷ revenue growth): -3.84×
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 | 221,755 | 219,140 | -2,615 | -1.2% |
| Gross profit | 37,771 | 39,109 | 1,338 | +3.5% |
| Operating income | 13,103 | 13,696 | 593 | +4.5% |
| Net income attributable to owners | 8,841 | 9,951 | 1,110 | +12.6% |
| Operating cash flow | 11,594 | 16,136 | 4,542 | +39.2% |
| Free cash flow | 10,826 | 15,226 | 4,400 | +40.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 161,476 | 6,998 | 4.3% | 4,876 | 5,006 | 4,214 | S100LN0W |
| FY ending Mar 2021 | 140,029 | 5,729 | 4.1% | 4,754 | 11,141 | 10,170 | S100OEE3 |
| FY ending Mar 2022 | 148,075 | 6,866 | 4.6% | 5,363 | -3,426 | -4,000 | S100R1DD |
| FY ending Mar 2023 | 153,674 | 6,717 | 4.4% | 6,316 | 8,940 | 8,104 | S100TRHF |
| FY ending Mar 2024 | 187,790 | 9,090 | 4.8% | 7,461 | -1,705 | -2,447 | S100W0GD |
| FY ending Mar 2025 | 221,755 | 13,103 | 5.9% | 8,841 | 11,594 | 10,826 | S100YGOV |
| FY ending Mar 2026 | 219,140 | 13,696 | 6.2% | 9,951 | 16,136 | 15,226 | S100YGOV |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥140.1M |
| Operating income per employee (consolidated) | ¥8.8M |
| Net income per employee (consolidated) | ¥6.4M |

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) | 1,258 | 1,319 | 1,402 | 1,467 | 1,564 |
| Average salary (parent company) | ¥8.9M | ¥9M | ¥9.4M | ¥10.1M | ¥9.7M |
| Average age (parent company) | 40.7 years | 40.3 years | 40.4 years | 40.5 years | 40.8 years |
| Average tenure (parent company) | 12.6 years | 12.6 years | 11.3 years | 11.3 years | 11.2 years |

Year over year: Employees (consolidated) +6.6% · Revenue (consolidated) -1.2%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Plant and energy business | 22,415 | 10.2% | 1,625 | 7.2% |
| Energy solutions business | 40,044 | 18.3% | 2,644 | 6.6% |
| Industrial machinery | 27,210 | 12.4% | 740 | 2.7% |
| Electronics business | 51,073 | 23.3% | 2,747 | 5.4% |
| Construction in progress - automobile | 42,508 | 19.4% | 2,581 | 6.1% |
| Healthcare business | 23,826 | 10.9% | 2,400 | 10.1% |
| Aviation Social infrastructure business | 11,990 | 5.5% | 1,049 | 8.7% |
| Other | 71 | 0.0% | 56 | 78.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Plant and energy business | 10.2% | 11.7% | 1.5 | 7.2% |
| Energy solutions business | 18.3% | 19.1% | 0.8 | 6.6% |
| Industrial machinery | 12.4% | 5.3% | -7.1 | 2.7% |
| Electronics business | 23.3% | 19.8% | -3.5 | 5.4% |
| Construction in progress - automobile | 19.4% | 18.6% | -0.8 | 6.1% |
| Healthcare business | 10.9% | 17.3% | 6.5 | 10.1% |
| Aviation Social infrastructure business | 5.5% | 7.6% | 2.1 | 8.7% |
| Other | 0.0% | 0.4% | 0.4 | 78.9% |

Segment → industry: Plant and energy business → Specialty Trading & Wholesale / Energy solutions business → Specialty Trading & Wholesale / Industrial machinery → Specialty Trading & Wholesale / Electronics business → Specialty Trading & Wholesale / Construction in progress - automobile → Specialty Trading & Wholesale / Healthcare business → Specialty Trading & Wholesale / Aviation Social infrastructure business → Specialty Trading & Wholesale / Other → Leasing

## 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 | 16,136 | 7.4% | S100YGOV |
| Capital expenditure | 910 | 0.4% | S100YGOV |
| Free cash flow | 15,226 | 6.9% | 算出 |
| Investing cash flow | -188 | -0.1% | S100YGOV |
| Financing cash flow | 1,221 | 0.6% | S100YGOV |
| Dividends paid | 3,250 | 1.5% | S100YGOV |
| Share buyback | 0 | 0.0% | S100YGOV |
| Change in cash | 17,946 | 8.2% | S100YGOV |
| Cash and equivalents | 51,829 | 23.7% | S100YGOV |

## 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 | 26,782 | 32,309 | 30,217 | 33,882 | 51,829 | S100TRHF, S100W0GD, S100YGOV |
| Total assets | 132,235 | 152,535 | 193,795 | 171,373 | 175,639 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Net assets | 58,722 | 63,658 | 73,441 | 79,852 | 90,701 | S100TRHF, S100W0GD, S100YGOV |
| Share capital | 5,105 | 5,105 | 5,105 | 5,105 | 5,105 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Trade receivables | 35,184 | — | — | — | — | S100R1DD |
| Property, plant and equipment | 3,073 | 3,200 | 3,540 | 3,343 | 3,397 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Intangible assets excluding goodwill | 1,651 | 1,413 | 2,183 | 2,087 | 1,946 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Goodwill | — | — | 1,065 | 953 | 841 | S100W0GD, S100YGOV |
| Investment securities | 9,858 | 10,041 | 13,100 | 12,709 | 17,527 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Current assets | 115,021 | 135,278 | 171,589 | 149,940 | 149,260 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Current liabilities | 71,292 | 86,511 | 116,894 | 87,777 | 79,258 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Trade payables | 28,682 | 33,724 | 39,380 | 31,977 | 26,285 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Short-term borrowings | 6,962 | 5,023 | 6,670 | 2,100 | 6,400 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Long-term borrowings | 360 | 240 | 120 | — | 480 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Total liabilities | 73,512 | 88,877 | 120,354 | 91,521 | 84,937 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Non-controlling interests | 38 | 62 | 44 | 86 | 151 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Equity attributable to owners of parent | 54,742 | 58,704 | 64,191 | 70,826 | 77,607 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Retained earnings | 46,683 | 51,319 | 56,753 | 62,792 | 69,489 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |
| Treasury stock | -858 | -1,546 | -1,508 | -858 | -807 | S100R1DD, S100TRHF, S100W0GD, S100YGOV |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100YGOV |
| Property, plant and equipment | 2% | S100YGOV |
| Intangibles and goodwill | 2% | S100YGOV |
| Investment securities | 10% | S100YGOV |
| Other assets | 57% | S100YGOV |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 15% | S100YGOV |
| Other liabilities | 33% | S100YGOV |
| Equity | 52% | S100YGOV |
| Other liabilities | 0% | S100YGOV |

### 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 | 132,235 | 152,535 | 193,795 | 171,373 | 175,639 |
| Equity | 58,722 | 63,658 | 73,441 | 79,852 | 90,701 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 26,782 | 32,309 | 30,217 | 33,882 | 51,829 |

## 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) | 1.6% | S100YGOV |
| Fixed assets ÷ total assets | 1.9% | S100YGOV |
| Goodwill ÷ parent equity | 1.1% | S100YGOV |

### 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) | 29.5% |
| Cash ÷ revenue | 23.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 117.8% |
| Cash vs. profit gap | 6,185 JPY mn (of net income 62.2%) |
| Shareholder returns / net income | 32.7% |
| Shareholder returns / FCF | 21.3% |
| Shareholder payments — dividends / net income | 32.7% |
| Shareholder payments — dividends / FCF | 21.3% |
| CapEx intensity (capex ÷ revenue) | 0.4% |
| Investing CF relative to operating CF | 1.2% |

## 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 | 3.6% | 1.12× | 4.1% | 2.42× | 9.8% | S100R1DD |
| 2023 | 4.1% | 1.08× | 4.4% | 2.51× | 11.1% | S100TRHF |
| 2024 | 4.0% | 1.08× | 4.3% | 2.82× | 12.1% | S100W0GD |
| 2025 | 4.0% | 1.21× | 4.8% | 2.70× | 13.1% | S100YGOV |
| 2026 | 4.5% | 1.26× | 5.7% | 2.34× | 13.4% | S100YGOV |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＵＨＰａｒｔｎｅｒｓ２投資事業有限責任組合 | Major shareholder | 9.5% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 8.4% | 2026-03-31 |
| ＵＨＰａｒｔｎｅｒｓ３投資事業有限責任組合 | Major shareholder | 7.5% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 6.5% | 2026-03-31 |
| ㈱みずほ銀行 | Major shareholder | 4.8% | 2026-03-31 |
| ㈱三井住友銀行 | Major shareholder | 4.8% | 2026-03-31 |
| エスアイエル投資事業有限責任組合 | Major shareholder | 4.3% | 2026-03-31 |
| ㈱三菱ＵＦＪ銀行 | Major shareholder | 3.5% | 2026-03-31 |
| ㈱りそな銀行 | Major shareholder | 3.2% | 2026-03-31 |
| 第一実業社員持株会 | Major shareholder | 3.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第103期(2025/04/01－2026/03/31) | S100YGOV | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGOV,, |
| 有価証券報告書－第102期(2024/04/01－2025/03/31) | S100W0GD | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0GD,, |
| 有価証券報告書－第101期(2023/04/01－2024/03/31) | S100TRHF | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRHF,, |
| 有価証券報告書－第100期(2022/04/01－2023/03/31) | S100R1DD | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1DD,, |
| 有価証券報告書－第99期(令和3年4月1日－令和4年3月31日) | S100OEE3 | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEE3,, |
| 有価証券報告書－第98期(令和2年4月1日－令和3年3月31日) | S100LN0W | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LN0W,, |

## 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).