# FURUYA METAL CO.,LTD.: business model and financials

> Latest period: FY ending Jun 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第57期(2024/07/01－2025/06/30) (S100WUAI)
> Page: https://vizora.meequs.com/en/company/furuya-metal
> Retrieved: 2026-09-30T18:28:31.996Z

## Company

Furuya Metal, founded in 1951, is a company in Non-ferrous Metals & Wires listed on TSE Prime. It has 418 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | FURUYA METAL CO.,LTD. |
| Ticker | 7826 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7826.T) |
| Listing | TSE Prime |
| Head office | 東京都豊島区南大塚二丁目37番5号 |
| Representative (per filing) | 代表取締役社長 古屋 堯民 |
| Founded | Mar 1951 |
| Share capital | ¥10.7B |
| Employees (consolidated) | 418 |
| Average salary (parent only) | ¥7.5M |
| Fiscal year end | June |
| Website | www.furuyametals.co.jp (https://www.furuyametals.co.jp/) |
| Corporate number | 8013301010956 |
| EDINET | E02485 |
| Industries (Vizora) | Non-ferrous Metals & Wires, Semiconductor Materials, Chemicals |

> Profile source: annual securities report (S100WUAI, filed 2025-10-09). As of filing

## Five-axis industry profile

Primary industry: Non-ferrous Metals & Wires (2025-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 82 | 25 |
| Profitability | 98.1 | 26 |
| Cash conversion | 10 | 25 |
| Efficiency | 9.3 | 27 |

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 46% of Furuya Metal's sales come from Fine Chemicals, Recycling, with Thin Film and Supply Chain Support making up much of the rest.
- Out of every ¥100 of sales, about ¥17 is left as operating profit.
- Revenue changed +20.7% from the prior year, operating profit -2.8%.

## Company structure

- Segment revenue mix: Fine Chemicals, Recycling 45.9%、Thin Film 19.6%、Supply Chain Support 13.3%、Electronics 10.3%、Thermal 8.5%
- Revenue → net income: ¥57379000000 → ¥6388000000
- Net income → operating cash flow: ¥6388000000 → ¥921000000（difference ¥-5467000000）
- Main uses of operating cash flow: CapEx ¥4914000000 / dividends ¥2351000000 / buybacks ¥0
- Change in cash: ¥739000000
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 | ¥57.4B |  |
| Operating income | ¥9.54B | Margin 16.6% |
| Net income | ¥6.47B | Margin 11.3% |
| Free cash flow | -¥3.99B |  |
| Largest business | Fine Chemicals, Recycling | of segment revenue 45.9% |
| Employees (consolidated) | 418 |  |
| EPS | ¥255.6 |  |
| Diluted EPS | ¥254.77 |  |
| Book value per share | ¥2607.42 |  |
| Equity ratio | 52.0% |  |
| Shares outstanding | 25,389,636 |  |
| Treasury shares | 813,500 |  |
| Shareholders | 11,255 |  |
| Average salary (parent only) | ¥7.5M | Filing company only |
| Cash ratio | 10.5% | Cash ÷ revenue 22.7% |
| Vs. industry median margin | +11 pp | Non-ferrous Metals & Wires |
| ROE | 10.4% | Derived from disclosed figures |
| ROA | 5.5% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Jun 2020 | FY ending Jun 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥22826000000 | ¥57379000000 | +151.4% |
| Operating income | ¥3679000000 | ¥9538000000 | +159.3% |
| Operating margin | 16.1% | 16.6% | +0.5 pp |
| Employees | 339 people | 418 people | +23.3% |
| Cash and equivalents | ¥2050000000 | ¥13044000000 | +536.3% |

### Change in segment revenue mix

Span: FY ending Jun 2020 → FY ending Jun 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 電子 → 事業再編・廃止 | 17.8% |
| 薄膜 → 事業再編・廃止 | 40.7% |
| センサー → 事業再編・廃止 | 10.8% |
| ケミカル → 事業再編・廃止 | 30.1% |
| その他 → その他 | 0.5% |
| 新設・再編 → 電子 | 10.3% |
| 新設・再編 → 薄膜 | 19.6% |
| 新設・再編 → サーマル | 8.5% |
| 新設・再編 → ファインケミカル・リサイクル | 45.9% |
| 新設・再編 → サプライチェーン支援 | 13.3% |
| 新設・再編 → その他 | 1.9% |

Segment revenue source references: 11 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Fine Chemicals, Recycling | — | — | ¥26328000000 | — | 2 |
| Thin Film | — | — | ¥11271000000 | — | 2 |
| Supply Chain Support | — | — | ¥7653000000 | — | 2 |
| Electronics | — | — | ¥5904000000 | — | 2 |
| Thermal | — | — | ¥4860000000 | — | 2 |
| Other | 5 years | +64.8% | ¥1361000000 | — | 2 |

## Income statement（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 57,379 | 100.0% | S100WUAI |
| Cost of revenue | 43,191 | 75.3% | S100WUAI |
| Gross profit | 14,188 | 24.7% | S100WUAI |
| SG&A | 4,650 | 8.1% | S100WUAI |
| Operating income | 9,538 | 16.6% | S100WUAI |
| Ordinary income | 9,389 | 16.4% | S100WUAI |
| Pretax income | 9,214 | 16.1% | S100WUAI |
| Income tax | 2,825 | 4.9% | S100WUAI |
| Net income | 6,388 | 11.1% | S100WUAI |
| Net income attributable to owners | 6,468 | 11.3% | S100WUAI |

## Per ¥100 of revenue（FY ending Jun 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 75 |
| SG&A | 8 |
| Operating income | 17 |
| (Ref.) Net income | 11 |

### Margin funnel

Gross margin 24.7% → Operating margin 16.6% → Net margin 11.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +20.7%; Core profit growth: -2.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.14×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2024 → FY ending Jun 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 47,527 | 57,379 | 9,852 | +20.7% |
| Gross profit | 14,670 | 14,188 | -482 | -3.3% |
| Operating income | 9,813 | 9,538 | -275 | -2.8% |
| Net income attributable to owners | 7,410 | 6,468 | -942 | -12.7% |
| Operating cash flow | 3,213 | 921 | -2,292 | -71.3% |
| Free cash flow | 1,082 | -3,993 | -5,075 | -469.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2019 | 21,451 | 4,462 | 20.8% | 2,709 | -2,465 | -3,132 | S100LFL0 |
| FY ending Jun 2020 | 22,826 | 3,679 | 16.1% | 2,534 | 664 | -321 | S100MHSH |
| FY ending Jun 2021 | 33,840 | 10,452 | 30.9% | 6,889 | -3,450 | -5,556 | S100P8MR |
| FY ending Jun 2022 | 45,321 | 13,055 | 28.8% | 9,142 | -1,225 | -2,983 | S100S7Z3 |
| FY ending Jun 2023 | 48,115 | 11,485 | 23.9% | 9,406 | -461 | -2,772 | S100UF6B |
| FY ending Jun 2024 | 47,527 | 9,813 | 20.6% | 7,410 | 3,213 | 1,082 | S100WUAI |
| FY ending Jun 2025 | 57,379 | 9,538 | 16.6% | 6,468 | 921 | -3,993 | S100WUAI |

## People and productivity（FY ending Jun 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥137.3M |
| Operating income per employee (consolidated) | ¥22.8M |
| Net income per employee (consolidated) | ¥15.5M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 361 | 369 | 391 | 414 | 418 |
| Average salary (parent company) | ¥6.2M | ¥6.5M | ¥6.6M | ¥6.6M | ¥7.5M |
| Average age (parent company) | 34.8 years | 35.1 years | 34.6 years | 34.9 years | 35.4 years |
| Average tenure (parent company) | 8.2 years | 8.3 years | 8.1 years | 8.3 years | 8.8 years |

Year over year: Employees (consolidated) +1.0% · Revenue (consolidated) +20.7%

## Segments（FY ending Jun 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Electronics | 5,904 | 10.3% | — | — |
| Thin Film | 11,271 | 19.6% | — | — |
| Thermal | 4,860 | 8.5% | — | — |
| Fine Chemicals, Recycling | 26,328 | 45.9% | — | — |
| Supply Chain Support | 7,653 | 13.3% | — | — |
| Other | 1,361 | 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 |
| --- | ---: |
| Electronics | 10.3% |
| Thin Film | 19.6% |
| Thermal | 8.5% |
| Fine Chemicals, Recycling | 45.9% |
| Supply Chain Support | 13.3% |
| Other | 2.4% |

Segment → industry: Electronics → Non-ferrous Metals & Wires / Thin Film → Semiconductor Materials / Thin Film → Non-ferrous Metals & Wires / Thermal → Non-ferrous Metals & Wires / Fine Chemicals, Recycling → Non-ferrous Metals & Wires / Fine Chemicals, Recycling → Chemicals / Supply Chain Support → Non-ferrous Metals & Wires

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 921 | 1.6% | S100WUAI |
| Capital expenditure | 4,914 | 8.6% | S100WUAI |
| Free cash flow | -3,993 | -7.0% | 算出 |
| Investing cash flow | -4,935 | -8.6% | S100WUAI |
| Financing cash flow | 4,785 | 8.3% | S100WUAI |
| Dividends paid | 2,351 | 4.1% | S100WUAI |
| Share buyback | 0 | 0.0% | S100WUAI |
| Change in cash | 739 | 1.3% | S100WUAI |
| Cash and equivalents | 13,044 | 22.7% | S100WUAI |

## 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 Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,262 | 3,857 | 3,114 | 12,298 | 13,044 | S100S7Z3, S100UF6B, S100WUAI |
| Total assets | 55,690 | 72,662 | 87,534 | 112,721 | 123,864 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Net assets | 28,497 | 36,699 | 44,369 | 60,512 | 64,580 | S100S7Z3, S100UF6B, S100WUAI |
| Share capital | 5,445 | 5,445 | 5,445 | 10,662 | 10,662 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Trade receivables | 5,477 | — | — | — | — | S100MHSH |
| Property, plant and equipment | 12,062 | 17,402 | 17,025 | 17,213 | 19,477 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Intangible assets excluding goodwill | 215 | 354 | 1,171 | 2,014 | 2,999 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Investment securities | 20 | 18 | 20 | 44 | 52 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Current assets | 42,054 | 53,278 | 67,168 | 91,428 | 99,708 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Current liabilities | 20,447 | 28,485 | 35,782 | 44,948 | 46,552 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Trade payables | 6,075 | 11,359 | 14,927 | 21,792 | 22,343 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Short-term borrowings | 5,700 | 8,200 | 12,700 | 12,700 | 13,400 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Long-term borrowings | 5,518 | 6,224 | 5,622 | 5,300 | 10,826 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Total liabilities | 27,192 | 35,962 | 43,164 | 52,209 | 59,284 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Non-controlling interests | 179 | 163 | 151 | 141 | 61 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Equity attributable to owners of parent | 28,236 | 36,407 | 44,066 | 60,178 | 64,377 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Retained earnings | 17,172 | 25,268 | 32,895 | 38,526 | 42,654 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |
| Treasury stock | -1,412 | -1,363 | -1,345 | -1,323 | -1,287 | S100P8MR, S100S7Z3, S100UF6B, S100WUAI |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 11% | S100WUAI |
| Property, plant and equipment | 16% | S100WUAI |
| Intangibles and goodwill | 2% | S100WUAI |
| Investment securities | 0% | S100WUAI |
| Other assets | 71% | S100WUAI |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 18% | S100WUAI |
| Other liabilities | 30% | S100WUAI |
| Equity | 52% | S100WUAI |

### Balance sheet history

| Metric | FY ending Jun 2021 | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 55,690 | 72,662 | 87,534 | 112,721 | 123,864 |
| Equity | 28,497 | 36,699 | 44,369 | 60,512 | 64,580 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,262 | 3,857 | 3,114 | 12,298 | 13,044 |

## 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) | 33.9% | S100WUAI |
| Fixed assets ÷ total assets | 15.7% | S100WUAI |
| Goodwill ÷ parent equity | — | —, S100WUAI |

### 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) | 10.5% |
| Cash ÷ revenue | 22.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 9.7% |
| Cash vs. profit gap | -5,547 JPY mn (of net income -85.8%) |
| Shareholder returns / net income | 36.3% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 36.3% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 8.6% |
| Investing CF relative to operating CF | 535.8% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 20.4% | 0.61× | 12.4% | 1.97× | 24.4% | S100P8MR |
| 2022 | 20.2% | 0.71× | 14.2% | 1.99× | 28.3% | S100S7Z3 |
| 2023 | 19.5% | 0.60× | 11.7% | 1.99× | 23.4% | S100UF6B |
| 2024 | 15.6% | 0.47× | 7.4% | 1.92× | 14.2% | S100WUAI |
| 2025 | 11.3% | 0.49× | 5.5% | 1.90× | 10.4% | S100WUAI |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 田中貴金属工業株式会社 | Major shareholder | 17.3% | 2025-06-30 |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 8.5% | 2025-06-30 |
| 古屋 堯民 | Major shareholder | 6.9% | 2025-06-30 |
| Sibanye UK Limited(常任代理人 ハーバート・スミス・フリーヒルズ外国法律弁護士事務所) | Major shareholder | 4.9% | 2025-06-30 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.2% | 2025-06-30 |
| 古屋 圭紀 | Major shareholder | 3.1% | 2025-06-30 |
| 中山 慶一郎 | Major shareholder | 2.1% | 2025-06-30 |
| ㈱三菱UFJ銀行 | Major shareholder | 1.7% | 2025-06-30 |
| STATE STREET BANK AND TRUST COMPANY 505227（常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 1.4% | 2025-06-30 |
| 古屋 陸奥子 | Major shareholder | 1.3% | 2025-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第57期(2024/07/01－2025/06/30) | S100WUAI | 2025-10-09 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WUAI,, |
| 有価証券報告書－第56期(2023/07/01－2024/06/30) | S100UF6B | 2024-09-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UF6B,, |
| 訂正有価証券報告書－第55期(2022/07/01－2023/06/30) | S100S7Z3 | 2023-11-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S7Z3,, |
| 有価証券報告書－第54期(令和3年7月1日－令和4年6月30日) | S100P8MR | 2022-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P8MR,, |
| 有価証券報告書－第53期(令和2年7月1日－令和3年6月30日) | S100MHSH | 2021-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MHSH,, |
| 訂正有価証券報告書－第52期(令和1年7月1日－令和2年6月30日) | S100LFL0 | 2021-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LFL0,, |

## 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).