# FUJITA ENGINEERING 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63期(2025/04/01－2026/03/31) (S100YGU7)
> Page: https://vizora.meequs.com/en/company/fujita-engineering
> Retrieved: 2026-09-30T19:07:45.958Z

## Company

Fujita Engineering, founded in 1964, is a company in IT Services & System Integration listed on TSE Standard. It has 597 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | FUJITA ENGINEERING CO.,LTD. |
| Ticker | 1770 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1770.T) |
| Listing | TSE Standard |
| Head office | 群馬県高崎市飯塚町1174番地5 |
| Representative (per filing) | 代表取締役社長 藤田 実 |
| Founded | Oct 1964 |
| Share capital | ¥1.03B |
| Employees (consolidated) | 597 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.fujita-eng.co.jp (https://www.fujita-eng.co.jp/) |
| Corporate number | 6070001008237 |
| EDINET | E00277 |
| Industries (Vizora) | IT Services & System Integration, Electronic Components, Plant Engineering & Building Services, Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YGU7, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 18.8 | 72 |
| Profitability | 45.4 | 76 |
| Cash conversion | 50.7 | 74 |
| Efficiency | 45.4 | 76 |

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 49% of Fujita Engineering's sales come from Construction of equipment and facilities, with Maintenance of equipment and facilities and Sales of industrial equipment and software development making up much of the rest.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed -8.8% from the prior year, operating profit -11.3%.

## Company structure

- Segment revenue mix: Construction of equipment and facilities 49.4%、Maintenance of equipment and facilities 24.0%、Sales of industrial equipment and software development 22.3%、Manufacturing of electronic device 4.4%
- Revenue → net income: ¥29769440000 → ¥1840274000
- Net income → operating cash flow: ¥1840274000 → ¥2038818000（difference ¥198544000）
- Main uses of operating cash flow: CapEx ¥154650000 / dividends ¥597534000 / buybacks —
- Change in cash: ¥276637000
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 | ¥29.8B |  |
| Operating income | ¥2.62B | Margin 8.8% |
| Net income | ¥1.84B | Margin 6.2% |
| Free cash flow | ¥1.88B |  |
| Largest business | Construction of equipment and facilities | of segment revenue 49.4% |
| Employees (consolidated) | 597 |  |
| EPS | ¥130.6 |  |
| Book value per share | ¥1587.62 |  |
| Equity ratio | 64.9% |  |
| Shares outstanding | 10,200,000 |  |
| Treasury shares | 1,015,900 |  |
| Shareholders | 1,165 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 25.0% | Cash ÷ revenue 26.7% |
| Vs. industry median margin | -0.3 pp | Plant Engineering & Building Services |
| ROE | 9.7% | Derived from disclosed figures |
| ROA | 5.9% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥26250632000 | ¥29769440000 | +13.4% |
| Operating income | ¥1795638000 | ¥2618576000 | +45.8% |
| Operating margin | 6.8% | 8.8% | +2 pp |
| Employees | 566 people | 597 people | +5.5% |
| Cash and equivalents | ¥8278788000 | ¥7939822000 | -4.1% |

### 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 |
| --- | ---: |
| 建設事業 → 建設事業 | 49.4% |
| 建設事業 → 事業再編・廃止 | 6.7% |
| 機器販売及び情報システム事業 → 機器販売及び情報システム事業 | 17.9% |
| 機器のメンテナンス事業 → 機器のメンテナンス事業 | 19.1% |
| 電子部品製造事業 → 電子部品製造事業 | 4.4% |
| 電子部品製造事業 → 事業再編・廃止 | 1.3% |
| その他 → 事業再編・廃止 | 1.3% |
| 新設・再編 → 機器販売及び情報システム事業 | 4.4% |
| 新設・再編 → 機器のメンテナンス事業 | 5.0% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Construction of equipment and facilities | 5 years | -0.0% | ¥14692555000 | 7.3% | 2 |
| Maintenance of equipment and facilities | 5 years | +7.4% | ¥7154351000 | 11.6% | 2 |
| Sales of industrial equipment and software development | 5 years | +7.1% | ¥6625535000 | 7.1% | 2 |
| Manufacturing of electronic device | 5 years | -2.7% | ¥1296998000 | 7.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,769 | 100.0% | S100YGU7 |
| Cost of revenue | 24,313 | 81.7% | S100YGU7 |
| Gross profit | 5,456 | 18.3% | S100YGU7 |
| SG&A | 2,838 | 9.5% | S100YGU7 |
| Operating income | 2,619 | 8.8% | S100YGU7 |
| Ordinary income | 2,838 | 9.5% | S100YGU7 |
| Pretax income | 2,757 | 9.3% | S100YGU7 |
| Income tax | 916 | 3.1% | S100YGU7 |
| Net income | 1,840 | 6.2% | S100YGU7 |
| Net income attributable to owners | 1,840 | 6.2% | S100YGU7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 9 |
| Operating income | 9 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 18.3% → Operating margin 8.8% → Net margin 6.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -8.8%; Core profit growth: -11.3%
Operating leverage (core profit growth ÷ revenue growth): 1.28×
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 | 32,647 | 29,769 | -2,877 | -8.8% |
| Gross profit | 5,843 | 5,456 | -386 | -6.6% |
| Operating income | 2,952 | 2,619 | -333 | -11.3% |
| Net income attributable to owners | 1,787 | 1,840 | 53 | +3.0% |
| Operating cash flow | 1,129 | 2,039 | 910 | +80.6% |
| Free cash flow | 695 | 1,884 | 1,189 | +171.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 29,087 | 1,759 | 6.0% | 1,131 | 1,659 | 1,549 | S100LTTO |
| FY ending Mar 2021 | 26,251 | 1,796 | 6.8% | 1,179 | 1,580 | 1,422 | S100OJBE |
| FY ending Mar 2022 | 27,709 | 1,901 | 6.9% | 1,372 | 965 | 677 | S100R8R6 |
| FY ending Mar 2023 | 27,165 | 1,735 | 6.4% | 1,276 | 1,321 | 1,160 | S100TVBW |
| FY ending Mar 2024 | 32,273 | 2,183 | 6.8% | 1,591 | 1,976 | 1,879 | S100W35N |
| FY ending Mar 2025 | 32,647 | 2,952 | 9.0% | 1,787 | 1,129 | 695 | S100YGU7 |
| FY ending Mar 2026 | 29,769 | 2,619 | 8.8% | 1,840 | 2,039 | 1,884 | S100YGU7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥49.9M |
| Operating income per employee (consolidated) | ¥4.4M |
| Net income per employee (consolidated) | ¥3.1M |

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) | 561 | 584 | 594 | 610 | 597 |
| Average salary (parent company) | ¥5.2M | ¥5.3M | ¥5.8M | ¥6.2M | ¥6M |
| Average age (parent company) | 41.1 years | 41.8 years | 42.2 years | 42.9 years | 43.1 years |
| Average tenure (parent company) | 14.5 years | 15.0 years | 15.2 years | 15.6 years | 16.6 years |

Year over year: Employees (consolidated) -2.1% · Revenue (consolidated) -8.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Construction of equipment and facilities | 14,693 | 49.4% | 1,071 | 7.3% |
| Sales of industrial equipment and software development | 6,626 | 22.3% | 469 | 7.1% |
| Maintenance of equipment and facilities | 7,154 | 24.0% | 832 | 11.6% |
| Manufacturing of electronic device | 1,297 | 4.4% | 97 | 7.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Construction of equipment and facilities | 49.4% | 43.4% | -6.0 | 7.3% |
| Sales of industrial equipment and software development | 22.3% | 19.0% | -3.3 | 7.1% |
| Maintenance of equipment and facilities | 24.0% | 33.7% | 9.7 | 11.6% |
| Manufacturing of electronic device | 4.4% | 3.9% | -0.4 | 7.5% |

Segment → industry: Sales of industrial equipment and software development → IT Services & System Integration / Manufacturing of electronic device → Electronic Components / Maintenance of equipment and facilities → Plant Engineering & Building Services / Construction of equipment and facilities → Plant Engineering & Building Services / Sales of industrial equipment and software development → Specialty Trading & Wholesale

## 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 | 2,039 | 6.8% | S100YGU7 |
| Capital expenditure | 155 | 0.5% | S100YGU7 |
| Free cash flow | 1,884 | 6.3% | 算出 |
| Investing cash flow | -1,021 | -3.4% | S100YGU7 |
| Financing cash flow | -755 | -2.5% | S100YGU7 |
| Dividends paid | 598 | 2.0% | S100YGU7 |
| Change in cash | 277 | 0.9% | S100YGU7 |
| Cash and equivalents | 7,940 | 26.7% | S100YGU7 |

## 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 | 7,912 | 8,022 | 8,433 | 7,663 | 7,940 | S100TVBW, S100W35N, S100YGU7 |
| Total assets | 27,191 | 29,115 | 33,218 | 30,294 | 31,811 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Net assets | 15,519 | 16,444 | 17,778 | 18,984 | 20,652 | S100TVBW, S100W35N, S100YGU7 |
| Share capital | 1,029 | 1,029 | 1,029 | 1,029 | 1,029 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Property, plant and equipment | 3,308 | 3,376 | 3,426 | 3,289 | 3,244 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Intangible assets excluding goodwill | 80 | 86 | 87 | 81 | 66 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Investment securities | 3,684 | 4,207 | 5,389 | 5,751 | 7,031 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Current assets | 19,596 | 20,901 | 23,787 | 20,576 | 20,793 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Current liabilities | 10,201 | 11,125 | 13,855 | 9,585 | 9,251 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Short-term borrowings | 955 | 855 | 855 | 355 | 255 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Bonds | — | — | — | 50 | 50 | S100YGU7 |
| Total liabilities | 11,672 | 12,671 | 15,440 | 11,310 | 11,159 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Equity attributable to owners of parent | 14,924 | 15,910 | 17,111 | 18,319 | 19,581 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Retained earnings | 14,299 | 15,273 | 16,461 | 16,974 | 18,218 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |
| Treasury stock | -1,225 | -1,218 | -1,212 | -491 | -485 | S100R8R6, S100TVBW, S100W35N, S100YGU7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 25% | S100YGU7 |
| Property, plant and equipment | 10% | S100YGU7 |
| Intangibles and goodwill | 0% | S100YGU7 |
| Investment securities | 22% | S100YGU7 |
| Other assets | 43% | S100YGU7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 35% | S100YGU7 |
| Equity | 65% | S100YGU7 |
| Other liabilities | 0% | S100YGU7 |

### 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 | 27,191 | 29,115 | 33,218 | 30,294 | 31,811 |
| Equity | 15,519 | 16,444 | 17,778 | 18,984 | 20,652 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,912 | 8,022 | 8,433 | 7,663 | 7,940 |

## 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) | 10.9% | S100YGU7 |
| Fixed assets ÷ total assets | 10.2% | S100YGU7 |
| Goodwill ÷ parent equity | — | —, S100YGU7 |

### 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) | 25.0% |
| Cash ÷ revenue | 26.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 77.9% |
| Cash vs. profit gap | 199 JPY mn (of net income 10.8%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 32.5% |
| Shareholder payments — dividends / FCF | 31.7% |
| CapEx intensity (capex ÷ revenue) | 0.5% |
| Investing CF relative to operating CF | 50.1% |

## 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% | 1.02× | 5.0% | 1.82× | 9.2% | S100R8R6 |
| 2023 | 4.7% | 0.96× | 4.5% | 1.83× | 8.3% | S100TVBW |
| 2024 | 4.9% | 1.04× | 5.1% | 1.89× | 9.6% | S100W35N |
| 2025 | 5.5% | 1.03× | 5.6% | 1.79× | 10.1% | S100YGU7 |
| 2026 | 6.2% | 0.96× | 5.9% | 1.64× | 9.7% | S100YGU7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 藤田 実 | Major shareholder | 25.1% | 2026-03-31 |
| 藤田エンジ取引先持株会 | Major shareholder | 12.0% | 2026-03-31 |
| 日東興産株式会社 | Major shareholder | 7.6% | 2026-03-31 |
| 藤田社員持株会 | Major shareholder | 5.3% | 2026-03-31 |
| 株式会社群馬銀行 | Major shareholder | 4.4% | 2026-03-31 |
| 上田八木短資株式会社 | Major shareholder | 2.9% | 2026-03-31 |
| 群馬土地株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| 光通信KK投資事業有限責任組合無限責任組合員光通信株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| INTERACTIVE BROKERS LLC （常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 2.4% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YGU7 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGU7,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100W35N | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W35N,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TVBW | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVBW,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R8R6 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8R6,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OJBE | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJBE,, |
| 有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100LTTO | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LTTO,, |

## 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).