# DAISHINKU CORP.: 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63期(2025/04/01－2026/03/31) (S100YKVO)
> Page: https://vizora.meequs.com/en/company/daishinku
> Retrieved: 2026-09-30T21:32:13.207Z

## Company

Daishinku, founded in 1963, is a company in Electronic Components listed on TSE Prime. It has 2,995 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAISHINKU CORP. |
| Ticker | 6962 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6962.T) |
| Listing | TSE Prime |
| Head office | 兵庫県加古川市野口町水足179番地の6 |
| Representative (per filing) | 代表取締役社長 長谷川 晋平 |
| Founded | May 1963 |
| Share capital | ¥19.3B |
| Employees (consolidated) | 2,995 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | March |
| Website | www.kds.info (https://www.kds.info/) |
| Corporate number | 7140001043110 |
| EDINET | E01952 |
| Industries (Vizora) | Electronic Components |

> Profile source: annual securities report (S100YKVO, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Electronic Components (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 31.1 | 53 |
| Profitability | 25.9 | 56 |
| Cash conversion | 1 | 48 |
| Efficiency | 9.8 | 56 |

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 33% of Daishinku's sales come from China, with Taiwan and Japan making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +2.4% from the prior year, operating profit +23.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥39.6B |  |
| Operating income | ¥1.13B | Margin 2.9% |
| Net income | ¥420M | Margin 1.1% |
| Free cash flow | -¥4.92B |  |
| Largest business | China | of segment revenue 32.7% |
| Employees (consolidated) | 2,995 |  |
| EPS | ¥10.14 |  |
| Book value per share | ¥988.88 |  |
| Equity ratio | 39.5% |  |
| Shares outstanding | 32,138,881 |  |
| Treasury shares | 334,900 |  |
| Shareholders | 14,691 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 16.2% | Cash ÷ revenue 40.4% |
| Vs. industry median margin | -3 pp | Electronic Components |
| ROE | 1.4% | Derived from disclosed figures |
| ROA | 0.4% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 79% of positive segment profit
- FY2026, segment profit share differs by 60 points
- FY2026, employees -8% while operating income rose 24%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥33189369000 | ¥39551717000 | +19.2% |
| Operating income | ¥2089029000 | ¥1133668000 | -45.7% |
| Operating margin | 6.3% | 2.9% | -3.4 pp |
| Employees | 3,876 people | 2,995 people | -22.7% |
| Cash and equivalents | ¥13940884000 | ¥15979160000 | +14.6% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 16.8% |
| 北米 → 北米 | 3.5% |
| 欧州 → 欧州 | 7.2% |
| 中国 → 中国 | 32.7% |
| 中国 → 事業再編・廃止 | 6.4% |
| 台湾 → 台湾 | 23.5% |
| 台湾 → 事業再編・廃止 | 4.8% |
| アジア → アジア | 5.3% |
| 新設・再編 → 日本 | 2.0% |
| 新設・再編 → 北米 | 3.4% |
| 新設・再編 → 欧州 | 3.8% |
| 新設・再編 → アジア | 2.0% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| China | 5 years | -0.0% | ¥12928515000 | -0.4% | 2 |
| Taiwan | 5 years | -0.2% | ¥9277359000 | 1.7% | 2 |
| Japan | 5 years | +5.9% | ¥7427904000 | 14.2% | 2 |
| Europe | 5 years | +12.7% | ¥4348613000 | 1.2% | 2 |
| Southeast Asia | 5 years | +10.4% | ¥2868005000 | -5.2% | 2 |
| North America | 5 years | +18.7% | ¥2701319000 | 2.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 39,552 | 100.0% | S100YKVO |
| Cost of revenue | 30,367 | 76.8% | S100YKVO |
| Gross profit | 9,184 | 23.2% | S100YKVO |
| SG&A | 8,051 | 20.4% | S100YKVO |
| Operating income | 1,134 | 2.9% | S100YKVO |
| Ordinary income | 735 | 1.9% | S100YKVO |
| Pretax income | 1,071 | 2.7% | S100YKVO |
| Income tax | 451 | 1.1% | S100YKVO |
| Net income | 620 | 1.6% | S100YKVO |
| Net income attributable to owners | 420 | 1.1% | S100YKVO |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 20 |
| Operating income | 3 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 23.2% → Operating margin 2.9% → Net margin 1.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.4%; Core profit growth: +23.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 9.91×
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 | 38,621 | 39,552 | 931 | +2.4% |
| Gross profit | 9,325 | 9,184 | -141 | -1.5% |
| Operating income | 915 | 1,134 | 219 | +23.9% |
| Net income attributable to owners | 286 | 420 | 134 | +47.1% |
| Operating cash flow | 2,297 | -1,780 | -4,076 | -177.5% |
| Free cash flow | -4,624 | -4,920 | -296 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 29,882 | 278 | 0.9% | 276 | 688 | -2,851 | S100LUSG |
| FY ending Mar 2021 | 33,189 | 2,089 | 6.3% | 1,223 | 2,708 | -2,229 | S100OLA0 |
| FY ending Mar 2022 | 41,306 | 5,195 | 12.6% | 3,848 | 8,763 | 2,958 | S100R8HE |
| FY ending Mar 2023 | 38,431 | 4,210 | 11.0% | 3,209 | 5,860 | -661 | S100TTBX |
| FY ending Mar 2024 | 39,344 | 2,135 | 5.4% | 1,876 | 8,244 | 3,359 | S100W5YH |
| FY ending Mar 2025 | 38,621 | 915 | 2.4% | 286 | 2,297 | -4,624 | S100YKVO |
| FY ending Mar 2026 | 39,552 | 1,134 | 2.9% | 420 | -1,780 | -4,920 | S100YKVO |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥13.2M |
| Operating income per employee (consolidated) | ¥378.5K |
| Net income per employee (consolidated) | ¥140.2K |

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) | 3,745 | 3,350 | 3,278 | 3,243 | 2,995 |
| Average salary (parent company) | ¥5.8M | ¥6M | ¥5.9M | ¥6.2M | ¥5.6M |
| Average age (parent company) | 44.7 years | 44.5 years | 44.3 years | 43.9 years | 43.6 years |
| Average tenure (parent company) | 21.3 years | 20.7 years | 20.0 years | 19.2 years | 17.6 years |

Year over year: Employees (consolidated) -7.6% · Revenue (consolidated) +2.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 7,428 | 18.8% | 1,053 | 14.2% |
| North America | 2,701 | 6.8% | 68 | 2.5% |
| Europe | 4,349 | 11.0% | 51 | 1.2% |
| China | 12,929 | 32.7% | -49 | -0.4% |
| Taiwan | 9,277 | 23.5% | 161 | 1.7% |
| Southeast Asia | 2,868 | 7.3% | -149 | -5.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 18.8% | 79.0% | 60.2 | 14.2% |
| North America | 6.8% | 5.1% | -1.7 | 2.5% |
| Europe | 11.0% | 3.8% | -7.2 | 1.2% |
| China | 32.7% | — | — | -0.4% |
| Taiwan | 23.5% | 12.1% | -11.4 | 1.7% |
| Southeast Asia | 7.3% | — | — | -5.2% |

Loss-making segment (excluded from profit shares): China -49 JPY mn

Loss-making segment (excluded from profit shares): Southeast Asia -149 JPY mn

Segment → industry: Southeast Asia → Electronic Components / Taiwan → Electronic Components / China → Electronic Components / Europe → Electronic Components / North America → Electronic Components / Japan → Electronic Components

## 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 | -1,780 | -4.5% | S100YKVO |
| Capital expenditure | 3,140 | 7.9% | S100YKVO |
| Free cash flow | -4,920 | -12.4% | 算出 |
| Investing cash flow | -3,150 | -8.0% | S100YKVO |
| Financing cash flow | 1,249 | 3.2% | S100YKVO |
| Dividends paid | 888 | 2.2% | S100YKVO |
| Share buyback | 0 | 0.0% | S100YKVO |
| Change in cash | -2,523 | -6.4% | S100YKVO |
| Cash and equivalents | 15,979 | 40.4% | S100YKVO |

## 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 | 18,517 | 18,437 | 24,355 | 18,502 | 15,979 | S100TTBX, S100W5YH, S100YKVO |
| Total assets | 81,318 | 83,622 | 91,065 | 89,891 | 98,810 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Net assets | 40,231 | 43,183 | 47,048 | 45,220 | 47,950 | S100TTBX, S100W5YH, S100YKVO |
| Share capital | 19,345 | 19,345 | 19,345 | 19,345 | 19,345 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Trade receivables | 9,940 | 9,514 | 9,646 | 9,040 | 10,193 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Property, plant and equipment | 27,685 | 30,585 | 31,588 | 34,893 | 38,400 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Intangible assets excluding goodwill | 570 | 1,185 | 1,237 | 990 | 803 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Investment securities | 3,277 | 2,812 | 2,926 | 2,759 | 3,486 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Current assets | 47,050 | 46,711 | 52,362 | 48,934 | 53,425 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Current liabilities | 20,662 | 19,466 | 20,712 | 24,875 | 32,944 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Trade payables | 3,883 | 1,827 | 2,617 | 3,379 | 4,098 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Short-term borrowings | 3,199 | 2,362 | 2,377 | 8,456 | 15,021 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Long-term borrowings | 17,769 | 18,390 | 19,776 | 16,336 | 14,123 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Total liabilities | 41,087 | 40,440 | 44,016 | 44,671 | 50,860 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Non-controlling interests | 7,109 | 7,281 | 8,340 | 8,165 | 8,929 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Equity attributable to owners of parent | 28,716 | 31,089 | 32,060 | 31,143 | 30,685 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Retained earnings | 4,131 | 6,501 | 7,473 | 6,186 | 5,701 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |
| Treasury stock | -1,929 | -1,930 | -1,930 | -183 | -169 | S100R8HE, S100TTBX, S100W5YH, S100YKVO |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100YKVO |
| Receivables | 10% | S100YKVO |
| Property, plant and equipment | 39% | S100YKVO |
| Intangibles and goodwill | 1% | S100YKVO |
| Investment securities | 4% | S100YKVO |
| Other assets | 30% | S100YKVO |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YKVO |
| Other liabilities | 47% | S100YKVO |
| Equity | 49% | S100YKVO |

### 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 | 81,318 | 83,622 | 91,065 | 89,891 | 98,810 |
| Equity | 40,231 | 43,183 | 47,048 | 45,220 | 47,950 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 18,517 | 18,437 | 24,355 | 18,502 | 15,979 |

## 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) | 97.1% | S100YKVO |
| Fixed assets ÷ total assets | 38.9% | S100YKVO |
| Goodwill ÷ parent equity | — | —, S100YKVO |

### 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) | 16.2% |
| Cash ÷ revenue | 40.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -157.0% |
| Cash vs. profit gap | -2,200 JPY mn (of net income -523.7%) |
| Shareholder returns / net income | 211.4% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 211.4% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 7.9% |
| 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 | 9.3% | 0.51× | 4.7% | 2.83× | 13.4% | S100R8HE |
| 2023 | 8.3% | 0.47× | 3.9% | 2.76× | 10.7% | S100TTBX |
| 2024 | 4.8% | 0.45× | 2.1% | 2.77× | 5.9% | S100W5YH |
| 2025 | 0.7% | 0.43× | 0.3% | 2.86× | 0.9% | S100YKVO |
| 2026 | 1.1% | 0.42× | 0.4% | 3.05× | 1.4% | S100YKVO |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト 信託銀行株式会社（信託口） | Major shareholder | 8.2% | 2026-03-31 |
| 一般財団法人長谷川福祉会 | Major shareholder | 7.5% | 2026-03-31 |
| 株式会社三菱ＵＦＪ銀行 | Major shareholder | 3.1% | 2026-03-31 |
| 株式会社常陽銀行 | Major shareholder | 3.1% | 2026-03-31 |
| 長谷川宗平 | Major shareholder | 3.1% | 2026-03-31 |
| 大真空社員持株会 | Major shareholder | 2.5% | 2026-03-31 |
| 株式会社長谷川 | Major shareholder | 2.0% | 2026-03-31 |
| 第一生命保険株式会社 | Major shareholder | 1.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YKVO | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKVO,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100W5YH | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5YH,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TTBX | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTBX,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R8HE | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8HE,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OLA0 | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLA0,, |
| 有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LUSG | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUSG,, |

## 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).