# DAIKI ALUMINIUM INDUSTRY 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99期(2025/04/01－2026/03/31) (S100YCJD)
> Page: https://vizora.meequs.com/en/company/daiki-aluminium-industry
> Retrieved: 2026-09-30T19:14:38.252Z

## Company

Daiki Aluminium Industry, founded in 1924, is a company in Non-ferrous Metals & Wires listed on TSE Prime. It has 1,275 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAIKI ALUMINIUM INDUSTRY CO.,LTD. |
| Ticker | 5702 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5702.T) |
| Listing | TSE Prime |
| Head office | 大阪市北区中之島三丁目6番32号 |
| Representative (per filing) | 代表取締役社長執行役員 林繁典 |
| Founded | Mar 1924 |
| Share capital | ¥6.35B |
| Employees (consolidated) | 1,275 |
| Average salary (parent only) | ¥7.5M |
| Fiscal year end | March |
| Website | www.dik-net.com (https://www.dik-net.com/) |
| Corporate number | 5120001125102 |
| EDINET | E01318 |
| Industries (Vizora) | Non-ferrous Metals & Wires |

> Profile source: annual securities report (S100YCJD, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: Non-ferrous Metals & Wires (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 78 | 25 |
| Profitability | 9.6 | 26 |
| Cash conversion | 22 | 25 |
| Efficiency | 94.4 | 27 |

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 98% of Daiki Aluminium Industry's sales come from Secondary aluminum alloys, with Other making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +10.4% from the prior year, operating profit +50.4%.

## Company structure

- Segment revenue mix: Secondary aluminum alloys 98.2%、Other 1.8%
- Revenue → net income: ¥331109000000 → ¥3641000000
- Net income → operating cash flow: ¥3641000000 → ¥1867000000（difference ¥-1774000000）
- Main uses of operating cash flow: CapEx ¥4731000000 / dividends ¥2176000000 / buybacks —
- Change in cash: ¥1692000000
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 | ¥331.1B |  |
| Operating income | ¥7.27B | Margin 2.2% |
| Net income | ¥3.68B | Margin 1.1% |
| Free cash flow | -¥2.86B |  |
| Largest business | Secondary aluminum alloys | of segment revenue 98.2% |
| Employees (consolidated) | 1,275 |  |
| EPS | ¥86.14 |  |
| Diluted EPS | ¥84.82 |  |
| Book value per share | ¥1032.17 |  |
| Equity ratio | 42.9% |  |
| Shares outstanding | 43,629,235 |  |
| Treasury shares | 4,056,900 |  |
| Shareholders | 12,891 |  |
| Average salary (parent only) | ¥7.5M | Filing company only |
| Cash ratio | 5.0% | Cash ÷ revenue 2.7% |
| Vs. industry median margin | -3.4 pp | Non-ferrous Metals & Wires |
| ROE | 6.0% | Derived from disclosed figures |
| ROA | 2.2% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 92% of positive segment profit
- FY2026, employees -1% while operating income rose 50%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥139194000000 | ¥331109000000 | +137.9% |
| Operating income | ¥9245000000 | ¥7268000000 | -21.4% |
| Operating margin | 6.6% | 2.2% | -4.4 pp |
| Employees | 1,187 people | 1,275 people | +7.4% |
| Cash and equivalents | ¥5702000000 | ¥8936000000 | +56.7% |

### 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 |
| --- | ---: |
| アルミニウム二次合金 → アルミニウム二次合金 | 97.1% |
| その他 → その他 | 1.8% |
| その他 → 事業再編・廃止 | 1.2% |
| 新設・再編 → アルミニウム二次合金 | 1.2% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 331,109 | 100.0% | S100YCJD |
| Cost of revenue | 314,899 | 95.1% | S100YCJD |
| Gross profit | 16,210 | 4.9% | S100YCJD |
| SG&A | 8,941 | 2.7% | S100YCJD |
| Operating income | 7,268 | 2.2% | S100YCJD |
| Ordinary income | 5,620 | 1.7% | S100YCJD |
| Pretax income | 5,463 | 1.6% | S100YCJD |
| Income tax | 1,821 | 0.5% | S100YCJD |
| Net income | 3,641 | 1.1% | S100YCJD |
| Net income attributable to owners | 3,680 | 1.1% | S100YCJD |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 95 |
| SG&A | 3 |
| Operating income | 2 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 4.9% → Operating margin 2.2% → Net margin 1.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.4%; Core profit growth: +50.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.82×
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 | 299,795 | 331,109 | 31,314 | +10.4% |
| Gross profit | 13,757 | 16,210 | 2,453 | +17.8% |
| Operating income | 4,834 | 7,268 | 2,434 | +50.4% |
| Net income attributable to owners | 699 | 3,680 | 2,981 | +426.5% |
| Operating cash flow | -10,043 | 1,867 | 11,910 | — |
| Free cash flow | -13,951 | -2,864 | 11,087 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 159,079 | 7,719 | 4.9% | 5,586 | 20,241 | 14,293 | S100LLD8 |
| FY ending Mar 2021 | 139,194 | 9,245 | 6.6% | 6,142 | -4,521 | -9,298 | S100OAZ5 |
| FY ending Mar 2022 | 236,056 | 20,376 | 8.6% | 14,880 | -15,621 | -19,039 | S100R0XR |
| FY ending Mar 2023 | 273,033 | 13,744 | 5.0% | 9,726 | 26,165 | 22,102 | S100TP31 |
| FY ending Mar 2024 | 262,671 | 4,619 | 1.8% | 3,244 | 2,800 | -2,048 | S100W0CS |
| FY ending Mar 2025 | 299,795 | 4,834 | 1.6% | 699 | -10,043 | -13,951 | S100YCJD |
| FY ending Mar 2026 | 331,109 | 7,268 | 2.2% | 3,680 | 1,867 | -2,864 | S100YCJD |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥259.7M |
| Operating income per employee (consolidated) | ¥5.7M |
| Net income per employee (consolidated) | ¥2.9M |

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) | 1,239 | 1,221 | 1,265 | 1,292 | 1,275 |
| Average salary (parent company) | ¥7.4M | ¥7.8M | ¥7.2M | ¥7.1M | ¥7.5M |
| Average age (parent company) | 42.7 years | 42.3 years | 42.8 years | 43.0 years | 42.8 years |
| Average tenure (parent company) | 15.3 years | 15.2 years | 15.3 years | 15.3 years | 15.8 years |

Year over year: Employees (consolidated) -1.3% · Revenue (consolidated) +10.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Secondary aluminum alloys | 325,308 | 98.2% | 6,697 | 2.1% |
| Other | 5,800 | 1.8% | 566 | 9.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Secondary aluminum alloys | 98.2% | 92.2% | -6.0 | 2.1% |
| Other | 1.8% | 7.8% | 6.0 | 9.8% |

Segment → industry: Secondary aluminum alloys → Non-ferrous Metals & Wires

## 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 | 1,867 | 0.6% | S100YCJD |
| Capital expenditure | 4,731 | 1.4% | S100YCJD |
| Free cash flow | -2,864 | -0.9% | 算出 |
| Investing cash flow | -5,182 | -1.6% | S100YCJD |
| Financing cash flow | 5,076 | 1.5% | S100YCJD |
| Dividends paid | 2,176 | 0.7% | S100YCJD |
| Change in cash | 1,692 | 0.5% | S100YCJD |
| Cash and equivalents | 8,936 | 2.7% | S100YCJD |

## 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 | 4,779 | 4,869 | 6,290 | 7,244 | 8,936 | S100TP31, S100W0CS, S100YCJD |
| Total assets | 141,616 | 133,215 | 138,679 | 163,295 | 177,864 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Net assets | 58,505 | 68,370 | 72,062 | 73,712 | 77,102 | S100TP31, S100W0CS, S100YCJD |
| Share capital | 6,346 | 6,346 | 6,346 | 6,346 | 6,346 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Trade receivables | 58,091 | 55,158 | 52,861 | 64,088 | 74,421 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Property, plant and equipment | 22,615 | 24,339 | 26,014 | 26,138 | 26,351 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Intangible assets excluding goodwill | 115 | 132 | 151 | 224 | 211 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Investment securities | 3,832 | 4,661 | 5,070 | 5,519 | 7,461 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Current assets | 113,500 | 102,721 | 105,519 | 127,689 | 140,373 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Current liabilities | 72,271 | 54,289 | 56,881 | 78,504 | 90,354 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Trade payables | 13,858 | 13,532 | 10,256 | 12,520 | 16,221 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Short-term borrowings | 50,172 | 34,143 | 41,684 | 59,771 | 67,968 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Long-term borrowings | 8,531 | 7,920 | 6,435 | 7,309 | 6,162 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Total liabilities | 83,110 | 64,844 | 66,616 | 89,583 | 100,761 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Non-controlling interests | 781 | 741 | 672 | 644 | 640 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Equity attributable to owners of parent | 55,526 | 62,643 | 63,052 | 61,048 | 62,496 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Retained earnings | 41,677 | 48,770 | 49,179 | 48,315 | 49,819 | S100R0XR, S100TP31, S100W0CS, S100YCJD |
| Treasury stock | -1,341 | -1,337 | -1,337 | -2,387 | -2,387 | S100R0XR, S100TP31, S100W0CS, S100YCJD |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 5% | S100YCJD |
| Receivables | 42% | S100YCJD |
| Property, plant and equipment | 15% | S100YCJD |
| Intangibles and goodwill | 0% | S100YCJD |
| Investment securities | 4% | S100YCJD |
| Other assets | 34% | S100YCJD |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 9% | S100YCJD |
| Other liabilities | 48% | S100YCJD |
| Equity | 43% | S100YCJD |
| Other liabilities | 0% | S100YCJD |

### 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 | 141,616 | 133,215 | 138,679 | 163,295 | 177,864 |
| Equity | 58,505 | 68,370 | 72,062 | 73,712 | 77,102 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,779 | 4,869 | 6,290 | 7,244 | 8,936 |

## 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) | 8.0% | S100YCJD |
| Fixed assets ÷ total assets | 14.8% | S100YCJD |
| Goodwill ÷ parent equity | — | —, S100YCJD |

### 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) | 5.0% |
| Cash ÷ revenue | 2.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 25.7% |
| Cash vs. profit gap | -1,813 JPY mn (of net income -49.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 59.1% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 1.4% |
| Investing CF relative to operating CF | 277.6% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 6.3% | 1.67× | 10.5% | 2.55× | 26.8% | S100R0XR |
| 2023 | 3.6% | 1.99× | 7.1% | 2.33× | 16.5% | S100TP31 |
| 2024 | 1.2% | 1.93× | 2.4% | 2.16× | 5.2% | S100W0CS |
| 2025 | 0.2% | 1.99× | 0.5% | 2.43× | 1.1% | S100YCJD |
| 2026 | 1.1% | 1.94× | 2.2% | 2.76× | 6.0% | S100YCJD |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社山本エステート | Major shareholder | 8.8% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社 | Major shareholder | 8.2% | 2026-03-31 |
| 山 本 隆 章 | Major shareholder | 5.6% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 4.8% | 2026-03-31 |
| 株式会社日本カストディ銀行 | Major shareholder | 3.2% | 2026-03-31 |
| 大紀アルミ得意先持株会 | Major shareholder | 2.8% | 2026-03-31 |
| みずほ信託銀行株式会社 | Major shareholder | 2.5% | 2026-03-31 |
| 安 宅 千 浩 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 2.1% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.9% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 grew +10.4%, from ¥299.8B to ¥331.1B.
- Profit rose much faster: operating income went from ¥4.83B to ¥7.27B (+50.4%), and net income from ¥699M to ¥3.68B (+426.5%).
- Operating cash flow swung from -¥10B to a positive ¥1.87B, but free cash flow was still -¥2.86B.

### Drivers

- Higher LME aluminum prices lifted the company's selling prices
- In Japan, steady demand offset scrap costs that stayed high
- Overseas units raised prices and switched materials, and earnings are recovering

### Risks

- Sales lean heavily on the auto industry and a few large customers
- Raw material and product prices follow the LME market, and some scrap sources may shrink
- Political or economic changes in Thailand, Malaysia, Indonesia, India and other overseas bases could hurt results

Cited: Annual securities report (99th term) (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 (99th term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第99期(2025/04/01－2026/03/31) | S100YCJD | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YCJD,, |
| 有価証券報告書－第98期(2024/04/01－2025/03/31) | S100W0CS | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0CS,, |
| 有価証券報告書－第97期(2023/04/01－2024/03/31) | S100TP31 | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TP31,, |
| 有価証券報告書－第96期(2022/04/01－2023/03/31) | S100R0XR | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0XR,, |
| 有価証券報告書－第95期(令和3年4月1日－令和4年3月31日) | S100OAZ5 | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OAZ5,, |
| 有価証券報告書－第94期(令和2年4月1日－令和3年3月31日) | S100LLD8 | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLD8,, |

## 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).