# Daikokuya Holdings 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117期(2025/04/01－2026/03/31) (S100YL2D)
> Page: https://vizora.meequs.com/en/company/daikokuya-holdings
> Retrieved: 2026-09-30T20:32:18.143Z

## Company

Daikokuya Holdings, founded in 1915, is a company in Electrical Equipment listed on TSE Standard. It has 140 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Daikokuya Holdings Co.,Ltd. |
| Ticker | 6993 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6993.T) |
| Listing | TSE Standard |
| Head office | 東京都港区港南四丁目1番8号 |
| Representative (per filing) | 代表取締役社長 岩岡 迪弘 |
| Founded | Oct 1915 |
| Share capital | ¥6.68B |
| Employees (consolidated) | 140 |
| Average salary (parent only) | ¥4.8M |
| Fiscal year end | March |
| Website | www.daikokuyajp.com (https://www.daikokuyajp.com/) |
| Corporate number | 1010401034636 |
| EDINET | E01891 |
| Industries (Vizora) | Electrical Equipment, Secondhand Retail |

> Profile source: annual securities report (S100YL2D, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Secondhand Retail (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 8.8 | 17 |
| Profitability | 7.5 | 20 |
| Efficiency | 27.5 | 20 |

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 97% of Daikokuya Holdings's sales come from Pawnbroker and Second-hand shop, with Industrial lighting and electrical conduits business making up much of the rest.
- It lost about ¥6 for every ¥100 of sales at the operating level.
- Revenue changed +12.1% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥11.5B |  |
| Operating income | -¥652.4M | Margin -5.7% |
| Net income | -¥2.05B | Margin -17.9% |
| Free cash flow | -¥3.18B |  |
| Largest business | Pawnbroker and Second-hand shop | of segment revenue 97.0% |
| Employees (consolidated) | 140 |  |
| EPS | ¥-1.3 |  |
| Book value per share | ¥8.34 |  |
| Equity ratio | 53.1% |  |
| Shares outstanding | 739,896,570 |  |
| Treasury shares | 12,900 |  |
| Shareholders | 52,590 |  |
| Average salary (parent only) | ¥4.8M | Filing company only |
| Cash ratio | 22.8% | Cash ÷ revenue 20.0% |
| Vs. industry median margin | -9 pp | Secondhand Retail |
| ROA | -25.1% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 100% of positive segment profit
- FY2026, parent-company salary changed +42% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12606480000 | ¥11472469000 | -9.0% |
| Operating income | ¥-352414000 | ¥-652412000 | — |
| Operating margin | -2.8% | -5.7% | -2.9 pp |
| Employees | 206 people | 140 people | -32.0% |
| Cash and equivalents | ¥1003890000 | ¥2297164000 | +128.8% |

### 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 |
| --- | ---: |
| 電機事業 → 電機事業 | 2.3% |
| 質屋、古物売買業 → 質屋、古物売買業 | 97.0% |
| 質屋、古物売買業 → 事業再編・廃止 | 0.7% |
| 新設・再編 → 電機事業 | 0.7% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 11,472 | 100.0% | S100YL2D |
| Cost of revenue | 8,467 | 73.8% | S100YL2D |
| Gross profit | 3,005 | 26.2% | S100YL2D |
| SG&A | 3,658 | 31.9% | S100YL2D |
| Operating income | -652 | -5.7% | S100YL2D |
| Ordinary income | -882 | -7.7% | S100YL2D |
| Pretax income | -2,140 | -18.7% | S100YL2D |
| Income tax | 62 | 0.5% | S100YL2D |
| Net income | -2,202 | -19.2% | S100YL2D |
| Net income attributable to owners | -2,054 | -17.9% | S100YL2D |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 74 |
| SG&A | 32 |
| Operating income | -6 |
| (Ref.) Net income | -18 |

### Margin funnel

Gross margin 26.2% → Operating margin -5.7% → Net margin -17.9%
Derived from reported figures (DERIVED).

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 10,232 | 11,472 | 1,240 | +12.1% |
| Gross profit | 3,056 | 3,005 | -51 | -1.7% |
| Operating income | -904 | -652 | 252 | — |
| Net income attributable to owners | -968 | -2,054 | -1,086 | — |
| Operating cash flow | -1,193 | -3,120 | -1,927 | — |
| Free cash flow | -1,219 | -3,178 | -1,960 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 17,271 | 137 | 0.8% | -1,844 | 804 | 681 | S100LUS1 |
| FY ending Mar 2021 | 12,606 | -352 | -2.8% | -717 | -398 | -414 | S100OLGN |
| FY ending Mar 2022 | 17,196 | -122 | -0.7% | -462 | 423 | 390 | S100SGXD |
| FY ending Mar 2023 | 12,448 | 125 | 1.0% | -279 | 254 | 233 | S100TWP5 |
| FY ending Mar 2024 | 10,967 | -144 | -1.3% | -540 | -430 | -508 | S100W8RX |
| FY ending Mar 2025 | 10,232 | -904 | -8.8% | -968 | -1,193 | -1,219 | S100YL2D |
| FY ending Mar 2026 | 11,472 | -652 | -5.7% | -2,054 | -3,120 | -3,178 | S100YL2D |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥81.9M |
| Operating income per employee (consolidated) | -¥4.7M |
| Net income per employee (consolidated) | -¥14.7M |

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) | 201 | 162 | 149 | 187 | 140 |
| Average salary (parent company) | ¥3.3M | ¥3.9M | ¥3.2M | ¥4.2M | ¥4.8M |
| Average age (parent company) | 54.9 years | 56.7 years | 57.7 years | 58.8 years | 59.9 years |
| Average tenure (parent company) | 21.4 years | 25.4 years | 26.4 years | 25.7 years | 23.7 years |

Year over year: Employees (consolidated) -25.1% · Revenue (consolidated) +12.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Industrial lighting and electrical conduits business | 341 | 3.0% | 127 | 37.3% |
| Pawnbroker and Second-hand shop | 11,132 | 97.0% | -301 | -2.7% |
| Other | — | 0.0% | -35 | — |

### 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 | Profit share | Margin |
| --- | ---: | ---: |
| Industrial lighting and electrical conduits business | 100.0% | 37.3% |
| Pawnbroker and Second-hand shop | — | -2.7% |
| Other | — | — |

Loss-making segment (excluded from profit shares): Pawnbroker and Second-hand shop -301 JPY mn

Loss-making segment (excluded from profit shares): Other -35 JPY mn

Segment → industry: Industrial lighting and electrical conduits business → Electrical Equipment / Pawnbroker and Second-hand shop → Secondhand Retail

## 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 | -3,120 | -27.2% | S100YL2D |
| Capital expenditure | 58 | 0.5% | S100YL2D |
| Free cash flow | -3,178 | -27.7% | 算出 |
| Investing cash flow | -74 | -0.6% | S100YL2D |
| Financing cash flow | 4,930 | 43.0% | S100YL2D |
| Change in cash | 1,738 | 15.1% | S100YL2D |
| Cash and equivalents | 2,297 | 20.0% | S100YL2D |

## 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 | 1,044 | 901 | 948 | 559 | 2,297 | S100TWP5, S100W8RX, S100YL2D |
| Total assets | 7,363 | 6,705 | 6,518 | 6,279 | 10,065 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Net assets | 1,290 | 1,034 | 636 | 995 | 5,960 | S100TWP5, S100W8RX, S100YL2D |
| Share capital | 2,955 | 2,955 | 3,040 | 3,723 | 6,676 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Property, plant and equipment | 248 | 217 | 249 | 215 | 131 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Intangible assets excluding goodwill | 396 | 361 | 327 | 294 | 260 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Goodwill | 390 | 357 | 323 | 289 | 255 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Investment securities | 34 | 41 | 61 | 66 | 98 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Current assets | 5,921 | 5,370 | 5,165 | 4,871 | 8,617 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Current liabilities | 4,775 | 5,575 | 4,843 | 4,538 | 4,080 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Trade payables | 36 | 47 | 67 | 36 | 33 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Short-term borrowings | 3,500 | 3,500 | 3,890 | 3,500 | 3,500 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Long-term borrowings | 1,200 | — | 850 | 550 | — | S100SGXD, S100W8RX, S100YL2D |
| Total liabilities | 6,074 | 5,671 | 5,883 | 5,284 | 4,105 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Non-controlling interests | 580 | 607 | 606 | 571 | 609 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Equity attributable to owners of parent | 1,702 | 1,423 | 1,051 | 1,450 | 5,303 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Retained earnings | -2,255 | -2,534 | -3,074 | -4,042 | -6,096 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |
| Treasury stock | -2 | -2 | -2 | -2 | -2 | S100SGXD, S100TWP5, S100W8RX, S100YL2D |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 23% | S100YL2D |
| Property, plant and equipment | 1% | S100YL2D |
| Intangibles and goodwill | 5% | S100YL2D |
| Investment securities | 1% | S100YL2D |
| Other assets | 70% | S100YL2D |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 0% | S100YL2D |
| Other liabilities | 41% | S100YL2D |
| Equity | 59% | S100YL2D |

### 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 | 7,363 | 6,705 | 6,518 | 6,279 | 10,065 |
| Equity | 1,290 | 1,034 | 636 | 995 | 5,960 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,044 | 901 | 948 | 559 | 2,297 |

## 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) | 1.1% | S100YL2D |
| Fixed assets ÷ total assets | 1.3% | S100YL2D |
| Goodwill ÷ parent equity | 4.8% | S100YL2D |

Goodwill over 4 years: 390 → 255 JPY; total investing cash flow: -92 JPY. This does not imply causation.

### 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) | 22.8% |
| Cash ÷ revenue | 20.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -1,067 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 0.5% |
| Investing CF relative to operating CF | — |

## 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% | —× | — | S100SGXD |
| 2023 | — | —× | -4.0% | —× | — | S100TWP5 |
| 2024 | — | —× | -8.2% | —× | — | S100W8RX |
| 2025 | — | —× | -15.1% | —× | — | S100YL2D |
| 2026 | — | —× | -25.1% | —× | — | S100YL2D |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 合同会社Ｓバンク | Major shareholder | 65.6% | 2026-03-31 |
| 小川 浩平 | Major shareholder | 9.9% | 2026-03-31 |
| 小高 功嗣 | Major shareholder | 0.6% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 0.3% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 0.2% | 2026-03-31 |
| 魚津海陸運輸倉庫株式会社 | Major shareholder | 0.2% | 2026-03-31 |
| 田村 都志雄 | Major shareholder | 0.1% | 2026-03-31 |
| BNYM AS AGT/CLTS NON TREATY JASDEC（常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 0.1% | 2026-03-31 |
| 株式会社北海道カイリック | Major shareholder | 0.1% | 2026-03-31 |
| 齊藤 高弘 | Major shareholder | 0.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第117期(2025/04/01－2026/03/31) | S100YL2D | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YL2D,, |
| 有価証券報告書－第116期(2024/04/01－2025/03/31) | S100W8RX | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8RX,, |
| 有価証券報告書－第115期(2023/04/01－2024/03/31) | S100TWP5 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWP5,, |
| 訂正有価証券報告書－第114期(2022/04/01－2023/03/31) | S100SGXD | 2023-12-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SGXD,, |
| 有価証券報告書－第113期(令和3年4月1日－令和4年3月31日) | S100OLGN | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLGN,, |
| 有価証券報告書－第112期(令和2年4月1日－令和3年3月31日) | S100LUS1 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUS1,, |

## 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).