# Daitron Co.,Ltd.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第74期(2025/01/01－2025/12/31) (S100XUE0)
> Page: https://vizora.meequs.com/en/company/daitron
> Retrieved: 2026-09-30T20:24:04.769Z

## Company

Daitron, founded in 1952, is a company in Semiconductor Equipment listed on TSE Prime. It has 1,117 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Daitron Co.,Ltd. |
| Ticker | 7609 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7609.T) |
| Listing | TSE Prime |
| Head office | 大阪市淀川区宮原四丁目6番11号 |
| Representative (per filing) | 代表取締役社長 土屋 伸介 |
| Founded | Jun 1952 |
| Share capital | ¥2.2B |
| Employees (consolidated) | 1,117 |
| Average salary (parent only) | ¥8.6M |
| Fiscal year end | December |
| Website | www.daitron.co.jp (https://www.daitron.co.jp/) |
| Corporate number | 9120001083156 |
| EDINET | E02898 |
| Industries (Vizora) | Semiconductor Equipment, Electronic Components, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100XUE0, filed 2026-03-27). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 90.2 | 179 |
| Profitability | 87.3 | 185 |
| Cash conversion | 41.1 | 179 |
| Efficiency | 39.2 | 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 70% of Daitron's sales come from Domestic Marketing and Sales Business, with Overseas Business and Domestic Development and Production Business making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +10.3% from the prior year, operating profit +13.1%.

## Company structure

- Segment revenue mix: Domestic Marketing and Sales Business 69.6%、Overseas Business 26.0%、Domestic Development and Production Business 4.3%
- Revenue → net income: ¥103142476000 → ¥4943407000
- Net income → operating cash flow: ¥4943407000 → ¥6048150000（difference ¥1104743000）
- Main uses of operating cash flow: CapEx ¥206830000 / dividends ¥1846199000 / buybacks ¥1586472000
- Change in cash: ¥1103602000
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 | ¥103.1B |  |
| Operating income | ¥7.01B | Margin 6.8% |
| Net income | ¥4.92B | Margin 4.8% |
| Free cash flow | ¥5.84B |  |
| Largest business | Domestic Marketing and Sales Business | of segment revenue 69.6% |
| Employees (consolidated) | 1,117 |  |
| EPS | ¥210.03 |  |
| Book value per share | ¥1452.38 |  |
| Equity ratio | 44.8% |  |
| Shares outstanding | 10,633,349 |  |
| Treasury shares | 100,700 |  |
| Shareholders | 5,009 |  |
| Average salary (parent only) | ¥8.6M | Filing company only |
| Cash ratio | 26.0% | Cash ÷ revenue 20.0% |
| Vs. industry median margin | +3.9 pp | Specialty Trading & Wholesale |
| ROE | 15.6% | Derived from disclosed figures |
| ROA | 6.5% | Derived from disclosed figures |

## Notable figures

- FY2025, cash is 26% of total assets

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥57418055000 | ¥103142476000 | +79.6% |
| Operating income | ¥2403822000 | ¥7010903000 | +191.7% |
| Operating margin | 4.2% | 6.8% | +2.6 pp |
| Employees | 855 people | 1,117 people | +30.6% |
| Cash and equivalents | ¥12260615000 | ¥20644637000 | +68.4% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 国内販売事業 → 国内販売事業 | 69.6% |
| 国内販売事業 → 事業再編・廃止 | 3.2% |
| 国内製造事業 → 国内製造事業 | 4.3% |
| 国内製造事業 → 事業再編・廃止 | 2.4% |
| 海外事業 → 海外事業 | 20.4% |
| 新設・再編 → 海外事業 | 5.6% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Domestic Marketing and Sales Business | 5 years | +11.4% | ¥71834162000 | 5.7% | 2 |
| Overseas Business | 5 years | +18.0% | ¥26864692000 | 7.1% | 2 |
| Domestic Development and Production Business | 5 years | +2.9% | ¥4443621000 | 27.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 103,142 | 100.0% | S100XUE0 |
| Cost of revenue | 82,164 | 79.7% | S100XUE0 |
| Gross profit | 20,979 | 20.3% | S100XUE0 |
| SG&A | 13,968 | 13.5% | S100XUE0 |
| Operating income | 7,011 | 6.8% | S100XUE0 |
| Ordinary income | 7,157 | 6.9% | S100XUE0 |
| Pretax income | 7,158 | 6.9% | S100XUE0 |
| Income tax | 2,215 | 2.1% | S100XUE0 |
| Net income | 4,943 | 4.8% | S100XUE0 |
| Net income attributable to owners | 4,923 | 4.8% | S100XUE0 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 80 |
| SG&A | 13 |
| Operating income | 7 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 20.3% → Operating margin 6.8% → Net margin 4.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +10.3%; Core profit growth: +13.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.27×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 93,543 | 103,142 | 9,600 | +10.3% |
| Gross profit | 18,868 | 20,979 | 2,110 | +11.2% |
| Operating income | 6,200 | 7,011 | 811 | +13.1% |
| Net income attributable to owners | 4,382 | 4,923 | 541 | +12.4% |
| Operating cash flow | 10,013 | 6,048 | -3,965 | -39.6% |
| Free cash flow | 9,791 | 5,841 | -3,949 | -40.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 61,621 | 3,206 | 5.2% | 2,172 | 2,378 | 2,165 | S100L2AH |
| FY ending Dec 2020 | 57,418 | 2,404 | 4.2% | 1,611 | 3,066 | 2,966 | S100NR8K |
| FY ending Dec 2021 | 72,342 | 4,197 | 5.8% | 2,953 | 2,797 | 2,504 | S100QH2M |
| FY ending Dec 2022 | 87,640 | 6,052 | 6.9% | 4,237 | -275 | -446 | S100T58F |
| FY ending Dec 2023 | 92,156 | 5,944 | 6.4% | 4,015 | 316 | -151 | S100VHS0 |
| FY ending Dec 2024 | 93,543 | 6,200 | 6.6% | 4,382 | 10,013 | 9,791 | S100XUE0 |
| FY ending Dec 2025 | 103,142 | 7,011 | 6.8% | 4,923 | 6,048 | 5,841 | S100XUE0 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥92.3M |
| Operating income per employee (consolidated) | ¥6.3M |
| Net income per employee (consolidated) | ¥4.4M |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 893 | 942 | 1,003 | 1,061 | 1,117 |
| Average salary (parent company) | ¥7.6M | ¥8.2M | ¥8M | ¥7.5M | ¥8.6M |
| Average age (parent company) | 40.9 years | 41.0 years | 40.9 years | 40.6 years | 41.8 years |
| Average tenure (parent company) | 14.7 years | 14.6 years | 14.3 years | 14.0 years | 15.1 years |

Year over year: Employees (consolidated) +5.3% · Revenue (consolidated) +10.3%

## Segments（FY ending Dec 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Domestic Marketing and Sales Business | 71,834 | 69.6% | 4,061 | 5.7% |
| Domestic Development and Production Business | 4,444 | 4.3% | 1,203 | 27.1% |
| Overseas Business | 26,865 | 26.0% | 1,899 | 7.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Domestic Marketing and Sales Business | 69.6% | 56.7% | -13.0 | 5.7% |
| Domestic Development and Production Business | 4.3% | 16.8% | 12.5 | 27.1% |
| Overseas Business | 26.0% | 26.5% | 0.5 | 7.1% |

Segment → industry: Domestic Development and Production Business → Semiconductor Equipment / Domestic Development and Production Business → Electronic Components / Overseas Business → Specialty Trading & Wholesale / Domestic Marketing and Sales Business → Specialty Trading & Wholesale

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 6,048 | 5.9% | S100XUE0 |
| Capital expenditure | 207 | 0.2% | S100XUE0 |
| Free cash flow | 5,841 | 5.7% | 算出 |
| Investing cash flow | -1,465 | -1.4% | S100XUE0 |
| Financing cash flow | -3,594 | -3.5% | S100XUE0 |
| Dividends paid | 1,846 | 1.8% | S100XUE0 |
| Share buyback | 1,586 | 1.5% | S100XUE0 |
| Change in cash | 1,104 | 1.1% | S100XUE0 |
| Cash and equivalents | 20,645 | 20.0% | S100XUE0 |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 14,183 | 12,883 | 11,225 | 19,541 | 20,645 | S100T58F, S100VHS0, S100XUE0 |
| Total assets | 58,454 | 63,202 | 67,789 | 73,153 | 79,295 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Net assets | 22,456 | 26,013 | 29,451 | 33,004 | 35,586 | S100T58F, S100VHS0, S100XUE0 |
| Share capital | 2,201 | 2,201 | 2,201 | 2,201 | 2,201 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Trade receivables | 13,940 | — | — | — | — | S100QH2M |
| Property, plant and equipment | 4,318 | 4,400 | 4,529 | 4,410 | 4,356 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Intangible assets excluding goodwill | 204 | 200 | 427 | 413 | 410 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Investment securities | 1,952 | 1,663 | 1,956 | 2,191 | 3,074 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Current assets | 51,409 | 56,163 | 60,104 | 65,205 | 70,877 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Current liabilities | 32,592 | 33,538 | 34,650 | 36,353 | 40,312 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Trade payables | 8,697 | 9,348 | 9,361 | 9,813 | 11,603 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Short-term borrowings | 460 | 530 | 439 | 348 | 258 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Total liabilities | 35,999 | 37,190 | 38,338 | 40,150 | 43,709 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Non-controlling interests | 3 | 6 | 22 | 22 | 45 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Equity attributable to owners of parent | 21,734 | 25,166 | 27,856 | 30,862 | 32,376 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Retained earnings | 17,011 | 20,437 | 23,119 | 26,113 | 27,946 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |
| Treasury stock | -44 | -42 | -40 | -37 | -258 | S100QH2M, S100T58F, S100VHS0, S100XUE0 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 26% | S100XUE0 |
| Property, plant and equipment | 5% | S100XUE0 |
| Intangibles and goodwill | 1% | S100XUE0 |
| Investment securities | 4% | S100XUE0 |
| Other assets | 64% | S100XUE0 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 15% | S100XUE0 |
| Other liabilities | 40% | S100XUE0 |
| Equity | 45% | S100XUE0 |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 58,454 | 63,202 | 67,789 | 73,153 | 79,295 |
| Equity | 22,456 | 26,013 | 29,451 | 33,004 | 35,586 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 14,183 | 12,883 | 11,225 | 19,541 | 20,645 |

## 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) | 4.2% | S100XUE0 |
| Fixed assets ÷ total assets | 5.5% | S100XUE0 |
| Goodwill ÷ parent equity | — | —, S100XUE0 |

### 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) | 26.0% |
| Cash ÷ revenue | 20.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 86.3% |
| Cash vs. profit gap | 1,125 JPY mn (of net income 22.8%) |
| Shareholder returns / net income | 69.7% |
| Shareholder returns / FCF | 58.8% |
| Shareholder payments — dividends / net income | 37.5% |
| Shareholder payments — dividends / FCF | 31.6% |
| CapEx intensity (capex ÷ revenue) | 0.2% |
| Investing CF relative to operating CF | 24.2% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 4.1% | 1.24× | 5.1% | 2.69× | 13.6% | S100QH2M |
| 2022 | 4.8% | 1.44× | 7.0% | 2.59× | 18.1% | S100T58F |
| 2023 | 4.4% | 1.41× | 6.1% | 2.47× | 15.1% | S100VHS0 |
| 2024 | 4.7% | 1.33× | 6.2% | 2.40× | 14.9% | S100XUE0 |
| 2025 | 4.8% | 1.35× | 6.5% | 2.41× | 15.6% | S100XUE0 |

## 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 | 10.4% | 2025-12-31 |
| 公益財団法人ダイトロン福祉財団 | Major shareholder | 9.5% | 2025-12-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 4.2% | 2025-12-31 |
| 大森 康行 | Major shareholder | 3.8% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.8% | 2025-12-31 |
| ダイトロン従業員持株会 | Major shareholder | 2.6% | 2025-12-31 |
| ダイトロン取引先持株会 | Major shareholder | 1.8% | 2025-12-31 |
| 日本生命保険相互会社 （常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 1.7% | 2025-12-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 1.6% | 2025-12-31 |
| 株式会社みずほ銀行 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 1.3% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第74期(2025/01/01－2025/12/31) | S100XUE0 | 2026-03-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XUE0,, |
| 有価証券報告書－第73期(2024/01/01－2024/12/31) | S100VHS0 | 2025-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VHS0,, |
| 有価証券報告書－第72期(2023/01/01－2023/12/31) | S100T58F | 2024-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T58F,, |
| 有価証券報告書－第71期(2022/01/01－2022/12/31) | S100QH2M | 2023-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QH2M,, |
| 有価証券報告書－第70期(令和3年1月1日－令和3年12月31日) | S100NR8K | 2022-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NR8K,, |
| 有価証券報告書－第69期(令和2年1月1日－令和2年12月31日) | S100L2AH | 2021-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L2AH,, |

## 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).