# FUJIX 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77期(2025/04/01－2026/03/31) (S100YHMW)
> Page: https://vizora.meequs.com/en/company/fujix
> Retrieved: 2026-09-30T22:08:12.973Z

## Company

Fujix, founded in 1950, is a company in Textiles & Fibers listed on TSE Standard. It has 346 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | FUJIX Ltd. |
| Ticker | 3600 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3600.T) |
| Listing | TSE Standard |
| Head office | 京都府京都市北区平野宮本町5番地 |
| Representative (per filing) | 代表取締役社長 藤井一郎 |
| Founded | Jan 1950 |
| Share capital | ¥923.3M |
| Employees (consolidated) | 346 |
| Average salary (parent only) | ¥4.5M |
| Fiscal year end | March |
| Website | www.fjx.co.jp (https://www.fjx.co.jp/) |
| Corporate number | 5130001005385 |
| EDINET | E00610 |
| Industries (Vizora) | Textiles & Fibers |

> Profile source: annual securities report (S100YHMW, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Textiles & Fibers (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 17.9 | 14 |
| Profitability | 15.6 | 16 |
| Efficiency | 21.9 | 16 |

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 79% of Fujix's sales come from Japan, with Asia making up much of the rest.
- It lost about ¥4 for every ¥100 of sales at the operating level.
- Revenue changed -3.0% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥5.47B |  |
| Operating income | -¥222.1M | Margin -4.1% |
| Net income | -¥123.7M | Margin -2.3% |
| Free cash flow | ¥15.5M |  |
| Largest business | Japan | of segment revenue 79.2% |
| Employees (consolidated) | 346 |  |
| EPS | ¥-59.5 |  |
| Book value per share | ¥5992.96 |  |
| Equity ratio | 78.7% |  |
| Shares outstanding | 1,468,000 |  |
| Treasury shares | 91,600 |  |
| Shareholders | 544 |  |
| Average salary (parent only) | ¥4.5M | Filing company only |
| Cash ratio | 19.3% | Cash ÷ revenue 44.1% |
| Vs. industry median margin | -7.5 pp | Textiles & Fibers |
| ROA | -1.0% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5830296000 | ¥5474552000 | -6.1% |
| Operating income | ¥95669000 | ¥-222124000 | -332.2% |
| Operating margin | 1.6% | -4.1% | -5.7 pp |
| Employees | 424 people | 346 people | -18.4% |
| Cash and equivalents | ¥2069956000 | ¥2415053000 | +16.7% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 79.2% |
| 日本 → 事業再編・廃止 | 3.1% |
| アジア → アジア | 17.7% |
| 新設・再編 → アジア | 3.1% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,475 | 100.0% | S100YHMW |
| Cost of revenue | 4,236 | 77.4% | S100YHMW |
| Gross profit | 1,238 | 22.6% | S100YHMW |
| SG&A | 1,460 | 26.7% | S100YHMW |
| Operating income | -222 | -4.1% | S100YHMW |
| Ordinary income | -122 | -2.2% | S100YHMW |
| Pretax income | -108 | -2.0% | S100YHMW |
| Income tax | 25 | 0.4% | S100YHMW |
| Net income | -132 | -2.4% | S100YHMW |
| Net income attributable to owners | -124 | -2.3% | S100YHMW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 27 |
| Operating income | -4 |
| (Ref.) Net income | -2 |

### Margin funnel

Gross margin 22.6% → Operating margin -4.1% → Net margin -2.3%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,646 | 5,475 | -172 | -3.0% |
| Gross profit | 1,355 | 1,238 | -117 | -8.6% |
| Operating income | -196 | -222 | -26 | — |
| Net income attributable to owners | -108 | -124 | -16 | — |
| Operating cash flow | 145 | 68 | -77 | -53.3% |
| Free cash flow | 51 | 16 | -35 | -69.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 6,050 | 43 | 0.7% | -25 | 232 | -384 | S100LRPS |
| FY ending Mar 2021 | 5,830 | 96 | 1.6% | 138 | 570 | 297 | S100OI87 |
| FY ending Mar 2022 | 5,417 | -213 | -3.9% | -164 | 127 | 79 | S100R817 |
| FY ending Mar 2023 | 5,742 | -208 | -3.6% | -189 | 87 | -71 | S100TR4L |
| FY ending Mar 2024 | 5,806 | -116 | -2.0% | 90 | 111 | -33 | S100W5XD |
| FY ending Mar 2025 | 5,646 | -196 | -3.5% | -108 | 145 | 51 | S100YHMW |
| FY ending Mar 2026 | 5,475 | -222 | -4.1% | -124 | 68 | 16 | S100YHMW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥15.8M |
| Operating income per employee (consolidated) | -¥642K |
| Net income per employee (consolidated) | -¥357.6K |

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) | 418 | 402 | 382 | 357 | 346 |
| Average salary (parent company) | ¥4.4M | ¥4.2M | ¥4.4M | ¥4.4M | ¥4.5M |
| Average age (parent company) | 48.6 years | 49.6 years | 50.5 years | 50.9 years | 52.0 years |
| Average tenure (parent company) | 20.5 years | 21.1 years | 23.0 years | 22.4 years | 23.0 years |

Year over year: Employees (consolidated) -3.1% · Revenue (consolidated) -3.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 4,334 | 79.2% | -193 | -4.4% |
| Asia | 1,141 | 20.8% | -31 | -2.7% |

### 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 | Margin |
| --- | ---: | ---: |
| Japan | 79.2% | -4.4% |
| Asia | 20.8% | -2.7% |

Loss-making segment (excluded from profit shares): Japan -193 JPY mn

Loss-making segment (excluded from profit shares): Asia -31 JPY mn

Segment → industry: Asia → Textiles & Fibers / Japan → Textiles & Fibers

## 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 | 68 | 1.2% | S100YHMW |
| Capital expenditure | 52 | 1.0% | S100YHMW |
| Free cash flow | 16 | 0.3% | 算出 |
| Investing cash flow | 663 | 12.1% | S100YHMW |
| Financing cash flow | -114 | -2.1% | S100YHMW |
| Dividends paid | 69 | 1.3% | S100YHMW |
| Share buyback | 0 | 0.0% | S100YHMW |
| Change in cash | 637 | 11.6% | S100YHMW |
| Cash and equivalents | 2,415 | 44.1% | S100YHMW |

## 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 | 2,171 | 1,974 | 1,953 | 1,778 | 2,415 | S100TR4L, S100W5XD, S100YHMW |
| Total assets | 10,776 | 10,918 | 11,573 | 11,863 | 12,501 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Net assets | 9,446 | 9,464 | 9,993 | 10,186 | 10,539 | S100TR4L, S100W5XD, S100YHMW |
| Share capital | 923 | 923 | 923 | 923 | 923 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Property, plant and equipment | 2,651 | 2,591 | 2,532 | 2,460 | 2,326 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Intangible assets excluding goodwill | 203 | 207 | 220 | 229 | 231 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Investment securities | 885 | 1,095 | 1,709 | 1,983 | 2,675 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Current assets | 6,749 | 6,751 | 6,748 | 6,719 | 6,718 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Current liabilities | 588 | 674 | 601 | 588 | 651 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Total liabilities | 1,330 | 1,454 | 1,580 | 1,677 | 1,962 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Non-controlling interests | 747 | 725 | 710 | 741 | 704 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Equity attributable to owners of parent | 7,900 | 7,642 | 7,664 | 7,487 | 7,294 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Retained earnings | 6,315 | 6,057 | 6,079 | 5,902 | 5,710 | S100R817, S100TR4L, S100W5XD, S100YHMW |
| Treasury stock | -109 | -109 | -109 | -109 | -110 | S100R817, S100TR4L, S100W5XD, S100YHMW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YHMW |
| Property, plant and equipment | 19% | S100YHMW |
| Intangibles and goodwill | 2% | S100YHMW |
| Investment securities | 21% | S100YHMW |
| Other assets | 39% | S100YHMW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 16% | S100YHMW |
| Equity | 84% | S100YHMW |
| Other liabilities | 0% | S100YHMW |

### 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 | 10,776 | 10,918 | 11,573 | 11,863 | 12,501 |
| Equity | 9,446 | 9,464 | 9,993 | 10,186 | 10,539 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,171 | 1,974 | 1,953 | 1,778 | 2,415 |

## 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) | 42.5% | S100YHMW |
| Fixed assets ÷ total assets | 18.6% | S100YHMW |
| Goodwill ÷ parent equity | — | —, S100YHMW |

### 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) | 19.3% |
| Cash ÷ revenue | 44.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 191 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | 446.8% |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | 445.5% |
| CapEx intensity (capex ÷ revenue) | 1.0% |
| Investing CF relative to operating CF | 978.8% |

## 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 | — | —× | -1.5% | —× | — | S100R817 |
| 2023 | — | —× | -1.7% | —× | — | S100TR4L |
| 2024 | 1.6% | 0.52× | 0.8% | 1.47× | 1.2% | S100W5XD |
| 2025 | — | —× | -0.9% | —× | — | S100YHMW |
| 2026 | — | —× | -1.0% | —× | — | S100YHMW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社ＦＪ興産 | Major shareholder | 11.5% | 2026-03-31 |
| 藤 井 太 郎 | Major shareholder | 6.2% | 2026-03-31 |
| 鈴 木 直 子 | Major shareholder | 6.2% | 2026-03-31 |
| 小 原 京 子 | Major shareholder | 5.9% | 2026-03-31 |
| 藤 井 一 郎 | Major shareholder | 3.3% | 2026-03-31 |
| 小 林 茂 | Major shareholder | 3.2% | 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 | 2.9% | 2026-03-31 |
| 都 築 智 子 | Major shareholder | 2.7% | 2026-03-31 |
| 柏 阿里子 | Major shareholder | 2.7% | 2026-03-31 |
| 森 本 晶 一 | Major shareholder | 2.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第77期(2025/04/01－2026/03/31) | S100YHMW | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHMW,, |
| 有価証券報告書－第76期(2024/04/01－2025/03/31) | S100W5XD | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W5XD,, |
| 有価証券報告書－第75期(2023/04/01－2024/03/31) | S100TR4L | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TR4L,, |
| 有価証券報告書－第74期(2022/04/01－2023/03/31) | S100R817 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R817,, |
| 有価証券報告書－第73期(令和3年4月1日－令和4年3月31日) | S100OI87 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OI87,, |
| 有価証券報告書－第72期(令和2年4月1日－令和3年3月31日) | S100LRPS | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LRPS,, |

## 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).