# Eidai 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92期(2025/04/01－2026/03/31) (S100YJDA)
> Page: https://vizora.meequs.com/en/company/eidai
> Retrieved: 2026-09-30T22:08:14.023Z

## Company

Eidai, founded in 1946, is a company in Housing Equipment & Building Materials listed on TSE Standard. It has 1,454 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Eidai Co.,Ltd. |
| Ticker | 7822 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7822.T) |
| Listing | TSE Standard |
| Head office | 大阪市住之江区平林南2丁目10番60号 |
| Representative (per filing) | 代表取締役社長 枝園 統博 |
| Founded | Jul 1946 |
| Share capital | ¥3.29B |
| Employees (consolidated) | 1,454 |
| Average salary (parent only) | ¥5.9M |
| Fiscal year end | March |
| Website | www.eidai.com (https://www.eidai.com/) |
| Corporate number | 7120001030374 |
| EDINET | E00631 |
| Industries (Vizora) | Housing Equipment & Building Materials |

> Profile source: annual securities report (S100YJDA, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 77.7 | 56 |
| Profitability | 19.8 | 58 |
| Cash conversion | 75 | 50 |
| Efficiency | 56 | 58 |

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 84% of Eidai's sales come from Housing Material, with Wood Based Panel and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +3.6% from the prior year, and it swung back to an operating profit.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥73.8B |  |
| Operating income | ¥719M | Margin 1.0% |
| Net income | -¥2.85B | Margin -3.9% |
| Free cash flow | -¥1.57B |  |
| Largest business | Housing Material | of segment revenue 84.1% |
| Employees (consolidated) | 1,454 |  |
| EPS | ¥-66.55 |  |
| Book value per share | ¥779.12 |  |
| Equity ratio | 51.3% |  |
| Shares outstanding | 46,783,000 |  |
| Treasury shares | 2,588,400 |  |
| Shareholders | 5,843 |  |
| Average salary (parent only) | ¥5.9M | Filing company only |
| Cash ratio | 6.0% | Cash ÷ revenue 6.6% |
| Vs. industry median margin | -3.5 pp | Housing Equipment & Building Materials |
| ROA | -3.3% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 98% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥55814000000 | ¥73774000000 | +32.2% |
| Operating income | ¥-383000000 | ¥719000000 | — |
| Operating margin | -0.7% | 1.0% | +1.7 pp |
| Employees | 1,442 people | 1,454 people | +0.8% |
| Cash and equivalents | ¥7360000000 | ¥4857000000 | -34.0% |

### 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 |
| --- | ---: |
| 住宅資材 → 住宅資材 | 84.1% |
| 住宅資材 → 事業再編・廃止 | 7.2% |
| 木質ボード → 木質ボード | 8.4% |
| その他 → その他 | 0.2% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 木質ボード | 7.3% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Housing Material | 5 years | +4.0% | ¥62055000000 | 7.0% | 2 |
| Wood Based Panel | 5 years | +19.9% | ¥11595000000 | -14.0% | 2 |
| Other | 5 years | -4.5% | ¥124000000 | 56.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 73,774 | 100.0% | S100YJDA |
| Cost of revenue | 57,766 | 78.3% | S100YJDA |
| Gross profit | 16,008 | 21.7% | S100YJDA |
| SG&A | 15,288 | 20.7% | S100YJDA |
| Operating income | 719 | 1.0% | S100YJDA |
| Ordinary income | 504 | 0.7% | S100YJDA |
| Pretax income | -4,624 | -6.3% | S100YJDA |
| Income tax | 589 | 0.8% | S100YJDA |
| Net income | -5,213 | -7.1% | S100YJDA |
| Net income attributable to owners | -2,846 | -3.9% | S100YJDA |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 21 |
| Operating income | 1 |
| (Ref.) Net income | -4 |

### Margin funnel

Gross margin 21.7% → Operating margin 1.0% → Net margin -3.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
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 | 71,202 | 73,774 | 2,572 | +3.6% |
| Gross profit | 14,762 | 16,008 | 1,246 | +8.4% |
| Operating income | -293 | 719 | 1,012 | — |
| Net income attributable to owners | -29 | -2,846 | -2,817 | — |
| Operating cash flow | -2,305 | 1,228 | 3,533 | — |
| Free cash flow | -4,431 | -1,574 | 2,857 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 57,119 | -750 | -1.3% | -934 | -1,520 | -10,293 | S100LPGH |
| FY ending Mar 2021 | 55,814 | -383 | -0.7% | 951 | 2,388 | -8,933 | S100OEBA |
| FY ending Mar 2022 | 59,444 | -40 | -0.1% | 389 | 1,208 | -10,123 | S100R21B |
| FY ending Mar 2023 | 69,787 | -1,143 | -1.6% | -1,104 | 263 | -1,915 | S100TVX6 |
| FY ending Mar 2024 | 71,665 | 368 | 0.5% | 3,219 | 9,948 | 8,155 | S100WB6H |
| FY ending Mar 2025 | 71,202 | -293 | -0.4% | -29 | -2,305 | -4,431 | S100YJDA |
| FY ending Mar 2026 | 73,774 | 719 | 1.0% | -2,846 | 1,228 | -1,574 | S100YJDA |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥50.7M |
| Operating income per employee (consolidated) | ¥494.5K |
| Net income per employee (consolidated) | -¥2M |

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) | 1,491 | 1,501 | 1,432 | 1,476 | 1,454 |
| Average salary (parent company) | ¥5.5M | ¥5.6M | ¥5.5M | ¥5.6M | ¥5.9M |
| Average age (parent company) | 42.1 years | 42.6 years | 43.2 years | 43.6 years | 43.7 years |
| Average tenure (parent company) | 18.7 years | 19.0 years | 19.3 years | 19.2 years | 19.3 years |

Year over year: Employees (consolidated) -1.5% · Revenue (consolidated) +3.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Housing Material | 62,055 | 84.1% | 4,341 | 7.0% |
| Wood Based Panel | 11,595 | 15.7% | -1,624 | -14.0% |
| Other | 124 | 0.2% | 70 | 56.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Housing Material | 84.1% | 98.4% | 14.3 | 7.0% |
| Wood Based Panel | 15.7% | — | — | -14.0% |
| Other | 0.2% | 1.6% | 1.4 | 56.5% |

Loss-making segment (excluded from profit shares): Wood Based Panel -1,624 JPY mn

Segment → industry: Wood Based Panel → Housing Equipment & Building Materials / Housing Material → Housing Equipment & Building Materials

## 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 | 1,228 | 1.7% | S100YJDA |
| Capital expenditure | 2,802 | 3.8% | S100YJDA |
| Free cash flow | -1,574 | -2.1% | 算出 |
| Investing cash flow | -1,985 | -2.7% | S100YJDA |
| Financing cash flow | -1,504 | -2.0% | S100YJDA |
| Dividends paid | 441 | 0.6% | S100YJDA |
| Change in cash | -2,262 | -3.1% | S100YJDA |
| Cash and equivalents | 4,857 | 6.6% | S100YJDA |

## 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 | 5,814 | 6,328 | 12,797 | 7,120 | 4,857 | S100TVX6, S100WB6H, S100YJDA |
| Total assets | 88,853 | 92,978 | 96,118 | 88,714 | 81,545 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Net assets | 41,801 | 39,520 | 42,811 | 41,791 | 37,115 | S100TVX6, S100WB6H, S100YJDA |
| Share capital | 3,285 | 3,285 | 3,285 | 3,285 | 3,285 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Property, plant and equipment | 38,937 | 37,559 | 35,771 | 34,598 | 28,541 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Intangible assets excluding goodwill | 491 | 575 | 636 | 756 | 943 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Investment securities | 5,612 | 5,439 | 6,864 | 5,957 | 6,949 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Current assets | 42,692 | 48,381 | 51,564 | 46,443 | 44,142 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Current liabilities | 43,851 | 25,726 | 27,283 | 21,729 | 20,187 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Trade payables | 5,824 | 7,343 | 6,001 | 6,411 | 6,718 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Short-term borrowings | 8,810 | — | 175 | 175 | 175 | S100R21B, S100WB6H, S100YJDA |
| Long-term borrowings | 105 | 21,426 | 20,309 | 19,857 | 18,775 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Total liabilities | 47,052 | 53,457 | 53,306 | 46,922 | 44,430 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Non-controlling interests | -377 | -1,089 | -1,708 | -2,458 | -4,732 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Equity attributable to owners of parent | 40,522 | 38,932 | 41,710 | 41,239 | 37,950 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Retained earnings | 36,688 | 35,098 | 37,876 | 37,404 | 34,116 | S100R21B, S100TVX6, S100WB6H, S100YJDA |
| Treasury stock | -820 | -820 | -820 | -820 | -820 | S100R21B, S100TVX6, S100WB6H, S100YJDA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YJDA |
| Property, plant and equipment | 35% | S100YJDA |
| Intangibles and goodwill | 1% | S100YJDA |
| Investment securities | 9% | S100YJDA |
| Other assets | 49% | S100YJDA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 8% | S100YJDA |
| Other liabilities | 46% | S100YJDA |
| Equity | 46% | S100YJDA |

### 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 | 88,853 | 92,978 | 96,118 | 88,714 | 81,545 |
| Equity | 41,801 | 39,520 | 42,811 | 41,791 | 37,115 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,814 | 6,328 | 12,797 | 7,120 | 4,857 |

## 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) | 38.7% | S100YJDA |
| Fixed assets ÷ total assets | 35.0% | S100YJDA |
| Goodwill ÷ parent equity | — | —, S100YJDA |

### 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) | 6.0% |
| Cash ÷ revenue | 6.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 170.8% |
| Cash vs. profit gap | 4,074 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.8% |
| Investing CF relative to operating CF | 161.6% |

## 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 | 0.7% | 0.67× | 0.4% | 2.19× | 1.0% | S100R21B |
| 2023 | — | —× | -1.2% | —× | — | S100TVX6 |
| 2024 | 4.5% | 0.76× | 3.4% | 2.34× | 8.0% | S100WB6H |
| 2025 | — | —× | -0.0% | —× | — | S100YJDA |
| 2026 | — | —× | -3.3% | —× | — | S100YJDA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 永大産業取引先持株会 | Major shareholder | 9.4% | 2026-03-31 |
| 住友林業株式会社 | Major shareholder | 5.2% | 2026-03-31 |
| 大日本印刷株式会社 | Major shareholder | 5.1% | 2026-03-31 |
| 永大産業従業員持株会 | Major shareholder | 4.9% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 3.7% | 2026-03-31 |
| トーヨーマテリア株式会社 | Major shareholder | 3.5% | 2026-03-31 |
| ナイス株式会社 | Major shareholder | 3.3% | 2026-03-31 |
| 双日建材株式会社 | Major shareholder | 3.0% | 2026-03-31 |
| ＪＫホールディングス株式会社 | Major shareholder | 2.5% | 2026-03-31 |
| アイカ工業株式会社 | Major shareholder | 2.3% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第92期(2025/04/01－2026/03/31) | S100YJDA | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJDA,, |
| 訂正有価証券報告書－第91期(2024/04/01－2025/03/31) | S100WB6H | 2025-07-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WB6H,, |
| 有価証券報告書－第90期(2023/04/01－2024/03/31) | S100TVX6 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVX6,, |
| 有価証券報告書－第89期(2022/04/01－2023/03/31) | S100R21B | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R21B,, |
| 有価証券報告書－第88期(令和3年4月1日－令和4年3月31日) | S100OEBA | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OEBA,, |
| 有価証券報告書－第87期(令和2年4月1日－令和3年3月31日) | S100LPGH | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPGH,, |

## 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).