# DAIICHI CO.,LTD.: business model and financials

> Latest period: FY ending Sep 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第71期(2024/10/01－2025/09/30) (S100XC2D)
> Page: https://vizora.meequs.com/en/company/daiichi
> Retrieved: 2026-09-30T21:00:07.214Z

## Company

Daiichi, founded in 1958, is a company in Supermarkets listed on TSE Standard. It has 437 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAIICHI CO.,LTD. |
| Ticker | 7643 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7643.T) |
| Listing | TSE Standard |
| Head office | 北海道帯広市西20条南1丁目14番地47 |
| Representative (per filing) | 代表取締役社長 若園 清 |
| Founded | Jul 1958 |
| Share capital | ¥1.64B |
| Employees (consolidated) | 437 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | September |
| Website | www.daiichi-d.co.jp (https://www.daiichi-d.co.jp/) |
| Corporate number | 6460101000896 |
| EDINET | E03340 |
| Industries (Vizora) | Supermarkets |

> Profile source: annual securities report (S100XC2D, filed 2025-12-22). As of filing

## Five-axis industry profile

Primary industry: Supermarkets (2025-09-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 67.8 | 45 |
| Profitability | 35.7 | 49 |
| Cash conversion | 35.1 | 47 |
| Efficiency | 58.2 | 49 |

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)

- Daiichi brought in ¥58.6B in revenue.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +13.0% from the prior year, operating profit -31.7%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥58570779000 → ¥979425000
- Net income → operating cash flow: ¥979425000 → ¥1703100000（difference ¥723675000）
- Main uses of operating cash flow: CapEx ¥772312000 / dividends ¥541885000 / buybacks ¥124137000
- Change in cash: ¥-294393000
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 | ¥58.6B |  |
| Operating income | ¥1.31B | Margin 2.2% |
| Net income | ¥979.4M | Margin 1.7% |
| Free cash flow | ¥930.8M |  |
| Employees (consolidated) | 437 |  |
| EPS | ¥86.85 |  |
| Book value per share | ¥1532.61 |  |
| Equity ratio | 63.0% |  |
| Shares outstanding | 11,438,640 |  |
| Treasury shares | 206,700 |  |
| Shareholders | 7,827 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 25.6% | Cash ÷ revenue 12.0% |
| Vs. industry median margin | -0.6 pp | Supermarkets |
| ROE | 5.8% | Derived from disclosed figures |
| ROA | 3.7% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 26% of total assets

## What changed in 5 years

| Metric | FY ending Sep 2020 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥42595295000 | ¥58570779000 | +37.5% |
| Operating income | ¥1845042000 | ¥1308589000 | -29.1% |
| Operating margin | 4.3% | 2.2% | -2.1 pp |
| Employees | 319 people | 437 people | +37.0% |
| Cash and equivalents | ¥4975378000 | ¥7011256000 | +40.9% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 58,571 | 100.0% | S100XC2D |
| Cost of revenue | 43,752 | 74.7% | 算出 |
| Gross profit | 14,819 | 25.3% | S100XC2D |
| SG&A | 14,100 | 24.1% | S100XC2D |
| Operating income | 1,309 | 2.2% | S100XC2D |
| Ordinary income | 1,288 | 2.2% | S100XC2D |
| Pretax income | 1,334 | 2.3% | S100XC2D |
| Income tax | 355 | 0.6% | S100XC2D |
| Net income | 979 | 1.7% | S100XC2D |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 75 |
| SG&A | 24 |
| Other operating | -1 |
| Operating income | 2 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 25.3% → Operating margin 2.2% → Net margin 1.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +13.0%; Core profit growth: -31.7%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -2.43×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 51,828 | 58,571 | 6,743 | +13.0% |
| Gross profit | 13,249 | 14,819 | 1,570 | +11.8% |
| Operating income | 1,915 | 1,309 | -606 | -31.7% |
| Operating cash flow | 2,306 | 1,703 | -603 | -26.2% |
| Free cash flow | 1,301 | 931 | -370 | -28.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2019 | 40,471 | 1,342 | 3.3% | 750 | 1,678 | 1,340 | S100KF92 |
| FY ending Sep 2020 | 42,595 | 1,845 | 4.3% | 1,201 | 2,393 | 2,145 | S100OMMM |
| FY ending Sep 2021 | 44,015 | 1,950 | 4.4% | 1,286 | 2,010 | 575 | S100PVOK |
| FY ending Sep 2022 | 46,560 | 1,883 | 4.0% | 1,163 | 1,959 | 1,697 | S100SJ96 |
| FY ending Sep 2023 | 48,048 | 1,789 | 3.7% | 1,235 | 1,955 | 1,627 | S100V0TV |
| FY ending Sep 2024 | 51,828 | 1,915 | 3.7% | 1,425 | 2,306 | 1,301 | S100XC2D |
| FY ending Sep 2025 | 58,571 | 1,309 | 2.2% | 979 | 1,703 | 931 | S100XC2D |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥134M |
| Operating income per employee (consolidated) | ¥3M |
| Net income per employee (consolidated) | ¥2.2M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 338 | 347 | 380 | 410 | 437 |
| Average salary (parent company) | ¥4.8M | ¥5M | ¥5M | ¥5.2M | ¥5.4M |
| Average age (parent company) | 35.8 years | 35.7 years | 36.1 years | 37.9 years | 38.1 years |
| Average tenure (parent company) | 12.4 years | 12.4 years | 12.1 years | 12.1 years | 11.4 years |

Year over year: Employees (consolidated) +6.6% · Revenue (consolidated) +13.0%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,703 | 2.9% | S100XC2D |
| Capital expenditure | 772 | 1.3% | S100XC2D |
| Free cash flow | 931 | 1.6% | 算出 |
| Investing cash flow | -977 | -1.7% | S100XC2D |
| Financing cash flow | -1,021 | -1.7% | S100XC2D |
| Dividends paid | 542 | 0.9% | S100XC2D |
| Share buyback | 124 | 0.2% | S100XC2D |
| Change in cash | -294 | -0.5% | S100XC2D |
| Cash and equivalents | 7,011 | 12.0% | S100XC2D |

## 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 Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 5,107 | 6,153 | 7,247 | 7,306 | 7,011 | S100SJ96, S100V0TV, S100XC2D |
| Total assets | 21,231 | 22,278 | 23,483 | 26,200 | 27,338 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Net assets | 13,885 | 14,831 | 15,854 | 16,849 | 17,214 | S100SJ96, S100V0TV, S100XC2D |
| Share capital | 1,639 | 1,639 | 1,639 | 1,639 | 1,639 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Property, plant and equipment | 11,710 | 11,720 | 11,489 | 13,194 | 13,686 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Intangible assets excluding goodwill | 14 | 23 | 73 | 106 | 82 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Investment securities | 46 | 45 | 68 | 66 | 137 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Current assets | 7,929 | 8,921 | 10,192 | 10,674 | 10,987 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Current liabilities | 5,554 | 5,543 | 5,594 | 6,157 | 6,285 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Long-term borrowings | 210 | 154 | 98 | 42 | — | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Total liabilities | 7,346 | 7,447 | 7,629 | 9,351 | 10,124 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Equity attributable to owners of parent | 13,900 | 14,847 | 15,853 | 16,848 | 17,161 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Retained earnings | 10,698 | 11,644 | 12,650 | 13,789 | 14,226 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |
| Treasury stock | -3 | -3 | -3 | -147 | -271 | S100PVOK, S100SJ96, S100V0TV, S100XC2D |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 26% | S100XC2D |
| Property, plant and equipment | 50% | S100XC2D |
| Intangibles and goodwill | 0% | S100XC2D |
| Investment securities | 1% | S100XC2D |
| Other assets | 23% | S100XC2D |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 37% | S100XC2D |
| Equity | 63% | S100XC2D |

### Balance sheet history

| Metric | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 21,231 | 22,278 | 23,483 | 26,200 | 27,338 |
| Equity | 13,885 | 14,831 | 15,854 | 16,849 | 17,214 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,107 | 6,153 | 7,247 | 7,306 | 7,011 |

## 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) | 23.4% | S100XC2D |
| Fixed assets ÷ total assets | 50.1% | S100XC2D |
| Goodwill ÷ parent equity | — | —, S100XC2D |

### 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) | 25.6% |
| Cash ÷ revenue | 12.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 130.1% |
| Cash vs. profit gap | 724 JPY mn (of net income 73.9%) |
| Shareholder returns / net income | 68.0% |
| Shareholder returns / FCF | 71.6% |
| Shareholder payments — dividends / net income | 55.3% |
| Shareholder payments — dividends / FCF | 58.2% |
| CapEx intensity (capex ÷ revenue) | 1.3% |
| Investing CF relative to operating CF | 57.3% |

## 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 | 2.9% | 2.07× | 6.1% | 1.53× | 9.3% | S100PVOK |
| 2022 | 2.5% | 2.14× | 5.3% | 1.51× | 8.1% | S100SJ96 |
| 2023 | 2.6% | 2.10× | 5.4% | 1.49× | 8.0% | S100V0TV |
| 2024 | 2.7% | 2.09× | 5.7% | 1.52× | 8.7% | S100XC2D |
| 2025 | 1.7% | 2.19× | 3.7% | 1.57× | 5.8% | S100XC2D |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社イトーヨーカ堂 | Major shareholder | 30.6% | 2025-09-30 |
| ダイイチ取引先持株会 | Major shareholder | 4.2% | 2025-09-30 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 3.3% | 2025-09-30 |
| 若園 清 | Major shareholder | 2.5% | 2025-09-30 |
| STATE STREET BANK AND TRUST CLIENT OMNIBUS ACCOUNT OM02 505002 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.4% | 2025-09-30 |
| 株式会社北陸銀行 | Major shareholder | 1.7% | 2025-09-30 |
| 株式会社北洋銀行 | Major shareholder | 1.7% | 2025-09-30 |
| 横山 清 | Major shareholder | 1.5% | 2025-09-30 |
| 国分北海道株式会社 | Major shareholder | 1.5% | 2025-09-30 |
| 小西 典子 | Major shareholder | 1.4% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第71期(2024/10/01－2025/09/30) | S100XC2D | 2025-12-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XC2D,, |
| 有価証券報告書－第70期(2023/10/01－2024/09/30) | S100V0TV | 2024-12-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100V0TV,, |
| 有価証券報告書－第69期(2022/10/01－2023/09/30) | S100SJ96 | 2023-12-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SJ96,, |
| 有価証券報告書－第68期(令和3年10月1日－令和4年9月30日) | S100PVOK | 2022-12-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PVOK,, |
| 訂正有価証券報告書－第67期(令和2年10月1日－令和3年9月30日) | S100OMMM | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OMMM,, |
| 有価証券報告書－第66期(令和1年10月1日－令和2年9月30日) | S100KF92 | 2020-12-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KF92,, |

## 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).