# EDP Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第17期(2025/04/01－2026/03/31) (S100YTZ3)
> Page: https://vizora.meequs.com/en/company/edp
> Retrieved: 2026-09-30T19:49:28.366Z

## Company

EDP, founded in 2009, is a company in Semiconductor Materials listed on TSE Growth. It has 70 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | EDP Corporation |
| Ticker | 7794 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7794.T) |
| Listing | TSE Growth |
| Head office | 大阪府豊中市上新田四丁目6番3号 |
| Representative (per filing) | 代表取締役社長 藤森 直治 |
| Founded | Sep 2009 |
| Share capital | ¥2.3B |
| Employees (consolidated) | 70 |
| Average salary (parent only) | ¥4.9M |
| Fiscal year end | March |
| Website | www.d-edp.jp (https://www.d-edp.jp/) |
| Corporate number | 3120901029247 |
| EDINET | E37709 |
| Industries (Vizora) | Semiconductor Materials |

> Profile source: annual securities report (S100YTZ3, filed 2026-08-05). As of filing

## Key points (generated from figures)

- EDP brought in ¥516.6M in revenue.
- It lost about ¥263 for every ¥100 of sales at the operating level.
- Revenue changed -42.8% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥516.6M |  |
| Operating income | -¥1.36B | Margin -263.4% |
| Net income | -¥2.42B | Margin -467.7% |
| Free cash flow | -¥1.19B |  |
| Employees (consolidated) | 70 |  |
| EPS | ¥-173.47 |  |
| Book value per share | ¥110.63 |  |
| Equity ratio | 68.1% |  |
| Shares outstanding | 15,474,600 |  |
| Treasury shares | 400 |  |
| Shareholders | 23,252 |  |
| Average salary (parent only) | ¥4.9M | Filing company only |
| Cash ratio | 32.9% | Cash ÷ revenue 159.8% |
| Vs. industry median margin | -278.2 pp | Semiconductor Materials |
| ROA | -70.1% | Derived from disclosed figures |

## Notable figures

- FY2026, operating loss is 263 per ¥100 of revenue
- FY2026, cash is 33% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1139979000 | ¥516552000 | — |
| Operating income | ¥267774000 | ¥-1360496000 | — |
| Operating margin | 23.5% | -263.4% | -286.9 pp |
| Employees | 34 people | 70 people | — |
| Cash and equivalents | ¥948034000 | ¥825326000 | — |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 517 | 100.0% | S100YTZ3 |
| Cost of revenue | 1,077 | 208.5% | S100YTZ3 |
| Gross profit | -561 | -108.5% | S100YTZ3 |
| SG&A | 800 | 154.9% | S100YTZ3 |
| Operating income | -1,360 | -263.4% | S100YTZ3 |
| Ordinary income | -1,341 | -259.6% | S100YTZ3 |
| Pretax income | -2,409 | -466.3% | S100YTZ3 |
| Income tax | 7 | 1.4% | S100YTZ3 |
| Net income | -2,416 | -467.7% | S100YTZ3 |
| Net income attributable to owners | -2,416 | -467.7% | S100YTZ3 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 208 |
| SG&A | 155 |
| Operating income | -263 |
| (Ref.) Net income | -468 |

### Margin funnel

Gross margin -108.5% → Operating margin -263.4% → Net margin -467.7%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 903 | 517 | -386 | -42.8% |
| Gross profit | -168 | -561 | -393 | — |
| Operating income | -976 | -1,360 | -384 | — |
| Net income attributable to owners | -2,306 | -2,416 | -109 | — |
| Operating cash flow | -517 | -969 | -452 | — |
| Free cash flow | -563 | -1,194 | -631 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2021 | 1,140 | 268 | 23.5% | 253 | 441 | 37 | S100OK1E |
| FY ending Mar 2022 | 1,562 | 520 | 33.3% | 375 | 635 | 100 | S100R3C9 |
| FY ending Mar 2023 | 2,707 | 1,281 | 47.3% | 910 | 1,184 | -702 | S100TWR1 |
| FY ending Mar 2024 | 758 | -214 | -28.2% | -111 | -631 | -1,459 | S100TWR1 |
| FY ending Mar 2025 | 903 | -976 | -108.1% | -2,306 | -517 | -563 | S100YTZ3 |
| FY ending Mar 2026 | 517 | -1,360 | -263.4% | -2,416 | -969 | -1,194 | S100YTZ3 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥7.4M |
| Operating income per employee (consolidated) | -¥19.4M |
| Net income per employee (consolidated) | -¥34.5M |

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) | 44 | 56 | 62 | 69 | 70 |
| Average salary (parent company) | ¥4.8M | ¥5M | ¥4.6M | ¥4.8M | ¥4.9M |
| Average age (parent company) | 46.7 years | 46.1 years | 46.6 years | 45.1 years | 48.4 years |
| Average tenure (parent company) | 4.5 years | 3.8 years | 4.3 years | 3.9 years | 5.0 years |

Year over year: Employees (consolidated) +1.4% · Revenue (consolidated) -42.8%

## 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 | -969 | -187.5% | S100YTZ3 |
| Capital expenditure | 225 | 43.5% | S100YTZ3 |
| Free cash flow | -1,194 | -231.1% | 算出 |
| Investing cash flow | -226 | -43.7% | S100YTZ3 |
| Financing cash flow | 542 | 104.9% | S100YTZ3 |
| Change in cash | -649 | -125.6% | S100YTZ3 |
| Cash and equivalents | 825 | 159.8% | S100YTZ3 |

## 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 | 1,067 | 2,240 | 688 | 1,442 | 825 | S100TWR1, S100YTZ3 |
| Total assets | 2,818 | 6,016 | 5,338 | 4,378 | 2,510 | S100R3C9, S100TWR1, S100YTZ3 |
| Net assets | 2,045 | 4,931 | 4,851 | 3,419 | 1,710 | S100TWR1, S100YTZ3 |
| Share capital | 495 | 1,484 | 1,500 | 1,937 | 2,295 | S100R3C9, S100TWR1, S100YTZ3 |
| Property, plant and equipment | 1,336 | 2,966 | 3,266 | 1,551 | 537 | S100R3C9, S100TWR1, S100YTZ3 |
| Intangible assets excluding goodwill | 6 | 6 | 5 | 21 | 0 | S100R3C9, S100TWR1, S100YTZ3 |
| Current assets | 1,419 | 2,962 | 1,897 | 2,722 | 1,924 | S100R3C9, S100TWR1, S100YTZ3 |
| Current liabilities | 357 | 741 | 220 | 354 | 322 | S100R3C9, S100TWR1, S100YTZ3 |
| Long-term borrowings | 350 | 232 | 148 | 470 | 334 | S100R3C9, S100TWR1, S100YTZ3 |
| Total liabilities | 772 | 1,086 | 487 | 959 | 801 | S100R3C9, S100TWR1, S100YTZ3 |
| Equity attributable to owners of parent | 2,045 | 4,931 | 4,851 | 3,418 | 1,719 | S100R3C9, S100TWR1, S100YTZ3 |
| Retained earnings | 525 | 1,435 | 1,324 | -984 | -3,399 | S100R3C9, S100TWR1, S100YTZ3 |
| Treasury stock | — | -2 | -2 | -2 | -2 | S100TWR1, S100YTZ3 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 33% | S100YTZ3 |
| Property, plant and equipment | 21% | S100YTZ3 |
| Intangibles and goodwill | 0% | S100YTZ3 |
| Other assets | 46% | S100YTZ3 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 32% | S100YTZ3 |
| Equity | 68% | S100YTZ3 |

### 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 | 2,818 | 6,016 | 5,338 | 4,378 | 2,510 |
| Equity | 2,045 | 4,931 | 4,851 | 3,419 | 1,710 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,067 | 2,240 | 688 | 1,442 | 825 |

## 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) | 104.0% | S100YTZ3 |
| Fixed assets ÷ total assets | 21.4% | S100YTZ3 |
| Goodwill ÷ parent equity | — | —, S100YTZ3 |

### 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) | 32.9% |
| Cash ÷ revenue | 159.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 1,447 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 43.5% |
| 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 | 24.0% | 0.55× | 13.3% | 1.38× | 18.3% | S100R3C9 |
| 2023 | 33.6% | 0.61× | 20.6% | 1.27× | 26.1% | S100TWR1 |
| 2024 | — | —× | -2.0% | —× | — | S100TWR1 |
| 2025 | — | —× | -52.7% | —× | — | S100YTZ3 |
| 2026 | — | —× | -70.1% | —× | — | S100YTZ3 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 藤森直治 | Major shareholder | 6.9% | 2026-03-31 |
| 竹内工業株式会社 | Major shareholder | 5.9% | 2026-03-31 |
| 加茂睦和 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社SBI新生銀行 | Major shareholder | 1.8% | 2026-03-31 |
| 北城恪太郎 | Major shareholder | 1.8% | 2026-03-31 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| 株式会社フューチャーパートナーズ | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社槌屋 | Major shareholder | 1.4% | 2026-03-31 |
| 三星ダイヤモンド工業株式会社 | Major shareholder | 1.3% | 2026-03-31 |
| 日本証券金融株式会社 | Major shareholder | 0.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第17期(2025/04/01－2026/03/31) | S100YTZ3 | 2026-08-05 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YTZ3,, |
| 有価証券報告書－第16期(2024/04/01－2025/03/31) | S100W8YV | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8YV,, |
| 有価証券報告書－第15期(2023/04/01－2024/03/31) | S100TWR1 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TWR1,, |
| 有価証券報告書－第14期(2022/04/01－2023/03/31) | S100R3C9 | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3C9,, |
| 有価証券報告書－第13期(令和3年4月1日－令和4年3月31日) | S100OK1E | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OK1E,, |

## 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).