# Fujipream Corporation: 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44期(2025/04/01－2026/03/31) (S100YH1C)
> Page: https://vizora.meequs.com/en/company/fujipream
> Retrieved: 2026-09-30T19:42:00.882Z

## Company

Fujipream is a company in Electronic Components listed on TSE Standard. It has 217 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Fujipream Corporation |
| Ticker | 4237 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4237.T) |
| Listing | TSE Standard |
| Head office | 兵庫県姫路市飾西38番地1 |
| Representative (per filing) | 代表取締役社長 松本 倫長 |
| Share capital | ¥2B |
| Employees (consolidated) | 217 |
| Average salary (parent only) | ¥4.9M |
| Fiscal year end | March |
| Website | www.fujipream.co.jp (https://www.fujipream.co.jp/) |
| Corporate number | 7140001061401 |
| EDINET | E02348 |
| Industries (Vizora) | Electronic Components |

> Profile source: annual securities report (S100YH1C, filed 2026-06-23). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 4.7 | 53 |
| Profitability | 13.4 | 56 |
| Efficiency | 18.8 | 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 63% of Fujipream's sales come from Precision lamination and high-functional composite material department, with Ecology and Living Space and Engineering Department making up much of the rest.
- It lost about ¥1 for every ¥100 of sales at the operating level.
- Revenue changed -23.6% from the prior year, operating profit -135.5%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥8.12B |  |
| Operating income | -¥78.1M | Margin -1.0% |
| Net income | -¥2.3B | Margin -28.4% |
| Free cash flow | ¥1.23B |  |
| Largest business | Precision lamination and high-functional composite material department | of segment revenue 62.6% |
| Employees (consolidated) | 217 |  |
| EPS | ¥-71.53 |  |
| Book value per share | ¥200.61 |  |
| Equity ratio | 52.4% |  |
| Shares outstanding | 29,786,000 |  |
| Treasury shares | 1,211,500 |  |
| Shareholders | 11,426 |  |
| Average salary (parent only) | ¥4.9M | Filing company only |
| Cash ratio | 29.4% | Cash ÷ revenue 53.0% |
| Vs. industry median margin | -6.9 pp | Electronic Components |
| ROA | -15.0% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 0.4× its level five years ago
- FY2026, one segment accounts for 100% of positive segment profit
- FY2026, segment profit share differs by 63 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12585426000 | ¥8115010000 | -35.5% |
| Operating income | ¥309109000 | ¥-78131000 | -125.3% |
| Operating margin | 2.5% | -1.0% | -3.4 pp |
| Employees | 184 people | 217 people | +17.9% |
| Cash and equivalents | ¥3063163000 | ¥4299561000 | +40.4% |

### 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 |
| --- | ---: |
| 精密貼合及び高機能複合材部門 → 精密貼合及び高機能複合材部門 | 62.6% |
| 精密貼合及び高機能複合材部門 → 事業再編・廃止 | 15.9% |
| 環境住空間及びエンジニアリング部門 → 環境住空間及びエンジニアリング部門 | 21.5% |
| 新設・再編 → 環境住空間及びエンジニアリング部門 | 15.9% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,115 | 100.0% | S100YH1C |
| Cost of revenue | 6,983 | 86.1% | S100YH1C |
| Gross profit | 1,132 | 13.9% | S100YH1C |
| SG&A | 1,210 | 14.9% | S100YH1C |
| Operating income | -78 | -1.0% | S100YH1C |
| Ordinary income | -68 | -0.8% | S100YH1C |
| Pretax income | -2,304 | -28.4% | S100YH1C |
| Income tax | -3 | -0.0% | S100YH1C |
| Net income | -2,301 | -28.4% | S100YH1C |
| Net income attributable to owners | -2,301 | -28.4% | S100YH1C |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 86 |
| SG&A | 15 |
| Operating income | -1 |
| (Ref.) Net income | -28 |

### Margin funnel

Gross margin 13.9% → Operating margin -1.0% → Net margin -28.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned to a loss
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 | 10,621 | 8,115 | -2,506 | -23.6% |
| Gross profit | 1,485 | 1,132 | -353 | -23.8% |
| Operating income | 220 | -78 | -298 | -135.5% |
| Net income attributable to owners | 263 | -2,301 | -2,564 | -975.5% |
| Operating cash flow | 437 | 1,452 | 1,014 | +232.1% |
| Free cash flow | 207 | 1,233 | 1,026 | +494.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 12,170 | 345 | 2.8% | 385 | 423 | 103 | S100LSSP |
| FY ending Mar 2021 | 12,585 | 309 | 2.5% | 207 | 357 | 70 | S100OJIT |
| FY ending Mar 2022 | 19,235 | 704 | 3.7% | 444 | 1,189 | 896 | S100R4VI |
| FY ending Mar 2023 | 16,420 | 855 | 5.2% | 707 | 1,167 | 996 | S100TU95 |
| FY ending Mar 2024 | 13,248 | 686 | 5.2% | 574 | 1,598 | 1,256 | S100W2V4 |
| FY ending Mar 2025 | 10,621 | 220 | 2.1% | 263 | 437 | 207 | S100YH1C |
| FY ending Mar 2026 | 8,115 | -78 | -1.0% | -2,301 | 1,452 | 1,233 | S100YH1C |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37.4M |
| Operating income per employee (consolidated) | -¥360.1K |
| Net income per employee (consolidated) | -¥10.6M |

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) | 290 | 273 | 241 | 229 | 217 |
| Average salary (parent company) | ¥4.5M | ¥4.7M | ¥4.6M | ¥4.7M | ¥4.9M |
| Average age (parent company) | 34.4 years | 34.1 years | 36.2 years | 37.2 years | 38.2 years |
| Average tenure (parent company) | 8.4 years | 8.9 years | 10.1 years | 11.1 years | 12.3 years |

Year over year: Employees (consolidated) -5.2% · Revenue (consolidated) -23.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Precision lamination and high-functional composite material department | 5,082 | 62.6% | -150 | -2.9% |
| Ecology and Living Space and Engineering Department | 3,033 | 37.4% | 72 | 2.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Precision lamination and high-functional composite material department | 62.6% | — | — | -2.9% |
| Ecology and Living Space and Engineering Department | 37.4% | 100.0% | 62.6 | 2.4% |

Loss-making segment (excluded from profit shares): Precision lamination and high-functional composite material department -150 JPY mn

Segment → industry: Precision lamination and high-functional composite material department → 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 | 1,452 | 17.9% | S100YH1C |
| Capital expenditure | 218 | 2.7% | S100YH1C |
| Free cash flow | 1,233 | 15.2% | 算出 |
| Investing cash flow | -415 | -5.1% | S100YH1C |
| Financing cash flow | -896 | -11.0% | S100YH1C |
| Dividends paid | 171 | 2.1% | S100YH1C |
| Change in cash | 147 | 1.8% | S100YH1C |
| Cash and equivalents | 4,300 | 53.0% | S100YH1C |

## 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 | 3,297 | 3,697 | 5,168 | 4,153 | 4,300 | S100TU95, S100W2V4, S100YH1C |
| Total assets | 17,506 | 16,835 | 18,437 | 15,964 | 14,640 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Net assets | 8,985 | 9,540 | 9,993 | 10,017 | 7,667 | S100TU95, S100W2V4, S100YH1C |
| Share capital | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Property, plant and equipment | 8,036 | 7,588 | 7,819 | 7,585 | 5,188 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Intangible assets excluding goodwill | 9 | 5 | 4 | 56 | 1 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Investment securities | 880 | 903 | 1,018 | 999 | 821 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Current assets | 8,320 | 8,045 | 9,385 | 7,158 | 8,459 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Current liabilities | 6,326 | 5,001 | 7,062 | 4,546 | 5,949 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Trade payables | 1,977 | 1,444 | 1,749 | 667 | — | S100R4VI, S100TU95, S100W2V4 |
| Short-term borrowings | 2,640 | 2,510 | 2,800 | 2,650 | 2,080 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Long-term borrowings | 1,623 | 1,777 | 1,170 | 1,095 | 658 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Bonds | 388 | 360 | 32 | — | — | S100R4VI, S100TU95, S100W2V4 |
| Interest-bearing debt | 4,651 | 4,647 | 4,002 | — | — | 算出 |
| Total liabilities | 8,521 | 7,295 | 8,444 | 5,947 | 6,973 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Non-controlling interests | 120 | 120 | 122 | — | — | S100R4VI, S100TU95, S100W2V4 |
| Equity attributable to owners of parent | 8,856 | 9,392 | 9,794 | 9,964 | 7,491 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Retained earnings | 5,279 | 5,815 | 6,218 | 6,309 | 3,836 | S100R4VI, S100TU95, S100W2V4, S100YH1C |
| Treasury stock | -864 | -864 | -864 | -864 | -864 | S100R4VI, S100TU95, S100W2V4, S100YH1C |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100YH1C |
| Property, plant and equipment | 35% | S100YH1C |
| Intangibles and goodwill | 0% | S100YH1C |
| Investment securities | 6% | S100YH1C |
| Other assets | 30% | S100YH1C |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 48% | S100YH1C |
| Equity | 52% | S100YH1C |
| Other liabilities | 0% | S100YH1C |

### 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 | 17,506 | 16,835 | 18,437 | 15,964 | 14,640 |
| Equity | 8,985 | 9,540 | 9,993 | 10,017 | 7,667 |
| Interest-bearing debt | 4,651 | 4,647 | 4,002 | — | — |
| Cash | 3,297 | 3,697 | 5,168 | 4,153 | 4,300 |

## 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) | 63.9% | S100YH1C |
| Fixed assets ÷ total assets | 35.4% | S100YH1C |
| Goodwill ÷ parent equity | — | —, S100YH1C |

### 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) | 29.4% |
| Cash ÷ revenue | 53.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 3,753 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | 13.9% |
| CapEx intensity (capex ÷ revenue) | 2.7% |
| Investing CF relative to operating CF | 28.6% |

## 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 | 2.3% | 1.10× | 2.5% | 1.98× | 5.0% | S100R4VI |
| 2023 | 4.3% | 0.96× | 4.1% | 1.88× | 7.8% | S100TU95 |
| 2024 | 4.3% | 0.75× | 3.3% | 1.84× | 6.0% | S100W2V4 |
| 2025 | 2.5% | 0.62× | 1.5% | 1.74× | 2.7% | S100YH1C |
| 2026 | — | —× | -15.0% | —× | — | S100YH1C |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| フォローウインド株式会社 | Major shareholder | 42.3% | 2026-03-31 |
| 松本倫長 | Major shareholder | 7.9% | 2026-03-31 |
| 松本庄藏 | Major shareholder | 6.5% | 2026-03-31 |
| 日亜化学工業株式会社 | Major shareholder | 5.0% | 2026-03-31 |
| 東レ株式会社 | Major shareholder | 3.6% | 2026-03-31 |
| ジェイアンドエム株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| リンテック株式会社 | Major shareholder | 1.1% | 2026-03-31 |
| 津田鉄也 | Major shareholder | 1.0% | 2026-03-31 |
| 藤田和也 | Major shareholder | 0.9% | 2026-03-31 |
| 蔵野孝行 | Major shareholder | 0.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第44期(2025/04/01－2026/03/31) | S100YH1C | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH1C,, |
| 有価証券報告書－第43期(2024/04/01－2025/03/31) | S100W2V4 | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2V4,, |
| 有価証券報告書－第42期(2023/04/01－2024/03/31) | S100TU95 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TU95,, |
| 有価証券報告書－第41期(2022/04/01－2023/03/31) | S100R4VI | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R4VI,, |
| 有価証券報告書－第40期(令和3年4月1日－令和4年3月31日) | S100OJIT | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJIT,, |
| 有価証券報告書－第39期(令和2年4月1日－令和3年3月31日) | S100LSSP | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSSP,, |

## 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).