# F.C.C.CO.,LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第96期(2025/04/01－2026/03/31) (S100YFKQ)
> Page: https://vizora.meequs.com/en/company/f-c-c
> Retrieved: 2026-09-30T18:10:42.191Z

## Company

F.C.C., founded in 1939, is a company in Auto Parts listed on TSE Prime. It has 7,804 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | F.C.C.CO.,LTD. |
| Ticker | 7296 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7296.T) |
| Listing | TSE Prime |
| Head office | 静岡県浜松市浜名区細江町中川7000番地の36 |
| Representative (per filing) | 代表取締役社長 斎藤 善敬 |
| Founded | Jun 1939 |
| Share capital | ¥4.17B |
| Employees (consolidated) | 7,804 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | March |
| Website | www.fcc-net.co.jp (https://www.fcc-net.co.jp/) |
| Corporate number | 5080401010065 |
| EDINET | E02221 |
| Industries (Vizora) | Auto Parts |

> Profile source: annual securities report (S100YFKQ, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 92.3 | 110 |
| Profitability | 79.7 | 111 |
| Cash conversion | 25.5 | 108 |
| Efficiency | 56.3 | 111 |

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 52% of F.C.C.'s sales come from Automobile business, with Motorcycle business and Non-mobility business making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +1.6% from the prior year, operating profit +9.2%.

## Company structure

- Segment revenue mix: Automobile business 52.1%、Motorcycle business 47.8%、Non-mobility business 0.1%
- Revenue → net income: ¥260836000000 → ¥18806000000
- Net income → operating cash flow: ¥18806000000 → ¥22779000000（difference ¥3973000000）
- Main uses of operating cash flow: CapEx ¥16829000000 / dividends ¥8131000000 / buybacks ¥1000000
- Change in cash: ¥2865000000
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 | ¥260.8B |  |
| Operating income | ¥18.9B | Margin 7.3% |
| Net income | ¥18.8B | Margin 7.2% |
| Free cash flow | ¥5.95B |  |
| Largest business | Automobile business | of segment revenue 52.1% |
| Employees (consolidated) | 7,804 |  |
| EPS | ¥387.36 |  |
| Book value per share | ¥1756.22 |  |
| Equity ratio | 77.6% | Derived from disclosed figures |
| Shares outstanding | 52,056,530 |  |
| Treasury shares | 3,621,800 |  |
| Shareholders | 35,912 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 27.0% | Cash ÷ revenue 27.4% |
| Vs. industry median margin | +2.5 pp | Auto Parts |
| ROE | 9.6% | Derived from disclosed figures |
| ROA | 7.3% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 27% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥146157000000 | ¥260836000000 | +78.5% |
| Operating income | ¥6966000000 | ¥18927000000 | +171.7% |
| Operating margin | 4.8% | 7.3% | +2.5 pp |
| Employees | 8,360 people | 7,804 people | -6.7% |
| Cash and equivalents | ¥39607000000 | ¥71360000000 | +80.2% |

### 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 |
| --- | ---: |
| 二輪車用クラッチ → 事業再編・廃止 | 44.6% |
| 四輪車用クラッチ → 事業再編・廃止 | 55.4% |
| 新設・再編 → 二輪事業 | 47.8% |
| 新設・再編 → 四輪事業 | 52.1% |
| 新設・再編 → 非モビリティ事業 | 0.1% |

Segment revenue source references: 5 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Automobile business | 3 years | +4.9% | ¥135975000000 | 6.7% | 2 |
| Motorcycle business | 3 years | +7.3% | ¥124691000000 | 9.8% | 2 |
| Non-mobility business | 3 years | +148.6% | ¥169000000 | -1455.0% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 260,836 | 100.0% | S100YFKQ |
| Cost of revenue | 212,601 | 81.5% | S100YFKQ |
| Gross profit | 48,235 | 18.5% | S100YFKQ |
| SG&A | 29,639 | 11.4% | S100YFKQ |
| Operating income | 18,927 | 7.3% | S100YFKQ |
| Pretax income | 21,567 | 8.3% | S100YFKQ |
| Income tax | 2,760 | 1.1% | S100YFKQ |
| Net income | 18,806 | 7.2% | S100YFKQ |
| Net income attributable to owners | 18,760 | 7.2% | S100YFKQ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 11 |
| Operating income | 7 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 18.5% → Operating margin 7.3% → Net margin 7.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.6%; Core profit growth: +9.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 5.61×
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 | 256,619 | 260,836 | 4,217 | +1.6% |
| Gross profit | 49,305 | 48,235 | -1,070 | -2.2% |
| Operating income | 17,329 | 18,927 | 1,598 | +9.2% |
| Net income attributable to owners | 15,859 | 18,760 | 2,901 | +18.3% |
| Operating cash flow | 27,930 | 22,779 | -5,151 | -18.4% |
| Free cash flow | 12,757 | 5,950 | -6,807 | -53.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 157,217 | — | — | 7,204 | 24,165 | — | S100LNDZ |
| FY ending Mar 2018 | 173,174 | — | — | 9,691 | 24,120 | — | S100OE8J |
| FY ending Mar 2019 | 177,605 | — | — | 11,779 | 23,622 | — | S100R1EL |
| FY ending Mar 2020 | 171,060 | 7,896 | 4.6% | 3,921 | 25,079 | 15,188 | S100LNDZ |
| FY ending Mar 2021 | 146,157 | 6,966 | 4.8% | 4,462 | 12,971 | 6,034 | S100OE8J |
| FY ending Mar 2022 | 170,971 | 10,051 | 5.9% | 8,551 | 15,456 | 4,549 | S100R1EL |
| FY ending Mar 2023 | 218,939 | 11,903 | 5.4% | 9,566 | 21,014 | 12,468 | S100TNW0 |
| FY ending Mar 2024 | 240,283 | 15,102 | 6.3% | 12,231 | 35,383 | 26,514 | S100W2JQ |
| FY ending Mar 2025 | 256,619 | 17,329 | 6.8% | 15,859 | 27,930 | 12,757 | S100YFKQ |
| FY ending Mar 2026 | 260,836 | 18,927 | 7.3% | 18,760 | 22,779 | 5,950 | S100YFKQ |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥33.4M |
| Operating income per employee (consolidated) | ¥2.4M |
| Net income per employee (consolidated) | ¥2.4M |

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) | 8,115 | 7,970 | 7,820 | 7,799 | 7,804 |
| Average salary (parent company) | ¥6.7M | ¥7M | ¥7.1M | ¥7.4M | ¥7.7M |
| Average age (parent company) | 42.5 years | 43.1 years | 43.6 years | 44.0 years | 44.6 years |
| Average tenure (parent company) | 18.0 years | 18.4 years | 19.1 years | 19.3 years | 19.8 years |

Year over year: Employees (consolidated) +0.1% · Revenue (consolidated) +1.6%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Motorcycle business | 124,691 | 47.8% | 12,230 | 9.8% |
| Automobile business | 135,975 | 52.1% | 9,156 | 6.7% |
| Non-mobility business | 169 | 0.1% | -2,459 | -1455.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Motorcycle business | 47.8% | 57.2% | 9.4 | 9.8% |
| Automobile business | 52.1% | 42.8% | -9.3 | 6.7% |
| Non-mobility business | 0.1% | — | — | -1455.0% |

Loss-making segment (excluded from profit shares): Non-mobility business -2,459 JPY mn

Segment → industry: Automobile business → Auto Parts / Motorcycle business → Auto Parts

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 22,779 | 8.7% | S100YFKQ |
| Capital expenditure | 16,829 | 6.5% | S100YFKQ |
| Free cash flow | 5,950 | 2.3% | 算出 |
| Investing cash flow | -16,486 | -6.3% | S100YFKQ |
| Financing cash flow | -7,843 | -3.0% | S100YFKQ |
| Dividends paid | 8,131 | 3.1% | S100YFKQ |
| Share buyback | 1 | 0.0% | S100YFKQ |
| Change in cash | 2,865 | 1.1% | S100YFKQ |
| Cash and equivalents | 71,360 | 27.4% | S100YFKQ |

## 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 | 44,627 | 53,738 | 82,028 | 68,496 | 71,360 | S100TNW0, S100W2JQ, S100YFKQ |
| Total assets | 195,364 | 210,626 | 245,004 | 246,208 | 264,353 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Net assets | 148,532 | 162,124 | 186,602 | 185,444 | 206,299 | S100TNW0, S100W2JQ, S100YFKQ |
| Share capital | 4,175 | 4,175 | 4,175 | 4,175 | 4,175 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Property, plant and equipment | 60,029 | 57,483 | 57,234 | 60,229 | 67,016 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Current assets | 115,010 | 132,189 | 162,833 | 162,913 | 168,343 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Total liabilities | 46,832 | 48,502 | 58,402 | 60,764 | 58,054 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Equity attributable to owners of parent | 146,625 | 160,055 | 185,322 | 184,221 | 205,015 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Retained earnings | 132,252 | 139,639 | 149,324 | 156,211 | 166,974 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |
| Treasury stock | -4,764 | -4,723 | -4,694 | -7,312 | -7,296 | S100R1EL, S100TNW0, S100W2JQ, S100YFKQ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 27% | S100YFKQ |
| Property, plant and equipment | 25% | S100YFKQ |
| Other assets | 48% | S100YFKQ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 22% | S100YFKQ |
| Equity | 78% | S100YFKQ |

### 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 | 195,364 | 210,626 | 245,004 | 246,208 | 264,353 |
| Equity | 148,532 | 162,124 | 186,602 | 185,444 | 206,299 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 44,627 | 53,738 | 82,028 | 68,496 | 71,360 |

## 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) | 25.7% | S100YFKQ |
| Fixed assets ÷ total assets | 25.4% | S100YFKQ |
| Goodwill ÷ parent equity | — | —, S100YFKQ |

### 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) | 27.0% |
| Cash ÷ revenue | 27.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 120.4% |
| Cash vs. profit gap | 4,019 JPY mn (of net income 21.4%) |
| Shareholder returns / net income | 43.3% |
| Shareholder returns / FCF | 136.7% |
| Shareholder payments — dividends / net income | 43.3% |
| Shareholder payments — dividends / FCF | 136.7% |
| CapEx intensity (capex ÷ revenue) | 6.5% |
| Investing CF relative to operating CF | 72.4% |

## 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 | 5.0% | 0.88× | 4.4% | 1.33× | 5.8% | S100R1EL |
| 2023 | 4.4% | 1.08× | 4.7% | 1.32× | 6.2% | S100TNW0 |
| 2024 | 5.1% | 1.05× | 5.4% | 1.32× | 7.1% | S100W2JQ |
| 2025 | 6.2% | 1.04× | 6.5% | 1.33× | 8.6% | S100YFKQ |
| 2026 | 7.2% | 1.02× | 7.3% | 1.31× | 9.6% | S100YFKQ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 本田技研工業株式会社 | Major shareholder | 22.5% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.7% | 2026-03-31 |
| 株式会社ワイ・エー | Major shareholder | 5.3% | 2026-03-31 |
| 株式会社SMBC信託銀行（株式会社三井住友銀行退職給付信託口） | Major shareholder | 4.5% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.5% | 2026-03-31 |
| エフ・シ－・シ－取引先持株会 | Major shareholder | 1.8% | 2026-03-31 |
| 山本 惠以 | Major shareholder | 1.7% | 2026-03-31 |
| DFA INTL SMALL CAP VALUE PORTFOLIO （常任代理人 シティバンク、エヌ・エイ東京支店カストディ業務部） | Major shareholder | 1.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第96期(2025/04/01－2026/03/31) | S100YFKQ | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFKQ,, |
| 有価証券報告書－第95期(2024/04/01－2025/03/31) | S100W2JQ | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2JQ,, |
| 有価証券報告書－第94期(2023/04/01－2024/03/31) | S100TNW0 | 2024-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNW0,, |
| 有価証券報告書－第93期(2022/04/01－2023/03/31) | S100R1EL | 2023-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1EL,, |
| 有価証券報告書－第92期(令和3年4月1日－令和4年3月31日) | S100OE8J | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OE8J,, |
| 有価証券報告書－第91期(令和2年4月1日－令和3年3月31日) | S100LNDZ | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNDZ,, |

## 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).