# GEOSTR 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57期(2025/04/01－2026/03/31) (S100YG98)
> Page: https://vizora.meequs.com/en/company/geostr
> Retrieved: 2026-09-30T20:25:54.256Z

## Company

Geostr, founded in 1970, is a company in Cement & Concrete listed on TSE Standard. It has 467 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GEOSTR Corporation |
| Ticker | 5282 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5282.T) |
| Listing | TSE Standard |
| Head office | 東京都文京区小石川一丁目4番1号 |
| Representative (per filing) | 代表取締役社長 堀田 穣 |
| Founded | Mar 1970 |
| Share capital | ¥3.35B |
| Employees (consolidated) | 467 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | March |
| Website | www.geostr.co.jp (https://www.geostr.co.jp/) |
| Corporate number | 2010001083727 |
| EDINET | E01206 |
| Industries (Vizora) | Cement & Concrete |

> Profile source: annual securities report (S100YG98, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Cement & Concrete (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 34.4 | 16 |
| Profitability | 40.6 | 16 |
| Cash conversion | 78.1 | 16 |
| Efficiency | 53.1 | 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)

- Geostr brought in ¥28.9B in revenue.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +1.2% from the prior year, operating profit +32.2%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥28858829000 → ¥1852049000
- Net income → operating cash flow: ¥1852049000 → ¥4483468000（difference ¥2631419000）
- Main uses of operating cash flow: CapEx ¥948550000 / dividends ¥375312000 / buybacks ¥279500000
- Change in cash: ¥3746708000
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 | ¥28.9B |  |
| Operating income | ¥2.05B | Margin 7.1% |
| Net income | ¥1.85B | Margin 6.4% |
| Free cash flow | ¥3.53B |  |
| Employees (consolidated) | 467 |  |
| EPS | ¥62.85 |  |
| Book value per share | ¥799.97 |  |
| Equity ratio | 68.1% |  |
| Shares outstanding | 31,530,000 |  |
| Treasury shares | 895,100 |  |
| Shareholders | 6,674 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |
| Cash ratio | 21.7% | Cash ÷ revenue 27.7% |
| Vs. industry median margin | -1 pp | Cement & Concrete |
| ROE | 7.9% | Derived from disclosed figures |
| ROA | 5.0% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.4× net income
- FY2026, parent-company salary changed +23% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥30149522000 | ¥28858829000 | -4.3% |
| Operating income | ¥1764826000 | ¥2050900000 | +16.2% |
| Operating margin | 5.9% | 7.1% | +1.3 pp |
| Employees | 520 people | 467 people | -10.2% |
| Cash and equivalents | ¥4867194000 | ¥8005781000 | +64.5% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 28,859 | 100.0% | S100YG98 |
| Cost of revenue | 23,567 | 81.7% | S100YG98 |
| Gross profit | 5,292 | 18.3% | S100YG98 |
| SG&A | 3,241 | 11.2% | S100YG98 |
| Operating income | 2,051 | 7.1% | S100YG98 |
| Ordinary income | 2,105 | 7.3% | S100YG98 |
| Pretax income | 2,857 | 9.9% | S100YG98 |
| Income tax | 1,005 | 3.5% | S100YG98 |
| Net income | 1,852 | 6.4% | S100YG98 |
| Net income attributable to owners | 1,852 | 6.4% | S100YG98 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 11 |
| Operating income | 7 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 18.3% → Operating margin 7.1% → Net margin 6.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.2%; Core profit growth: +32.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 27.78×
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 | 28,528 | 28,859 | 331 | +1.2% |
| Gross profit | 4,493 | 5,292 | 799 | +17.8% |
| Operating income | 1,551 | 2,051 | 500 | +32.2% |
| Net income attributable to owners | 835 | 1,852 | 1,017 | +121.7% |
| Operating cash flow | 928 | 4,483 | 3,556 | +383.3% |
| Free cash flow | -354 | 3,535 | 3,888 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 27,833 | 1,404 | 5.0% | 528 | 222 | -497 | S100LO4G |
| FY ending Mar 2021 | 30,150 | 1,765 | 5.9% | 891 | 3,731 | 3,283 | S100OBL4 |
| FY ending Mar 2022 | 30,861 | 2,204 | 7.1% | 1,456 | 1,988 | 1,400 | S100R9CA |
| FY ending Mar 2023 | 25,236 | 1,522 | 6.0% | 646 | 4,165 | 3,405 | S100TU9Z |
| FY ending Mar 2024 | 26,910 | 1,831 | 6.8% | 1,103 | -1,893 | -2,537 | S100W2FK |
| FY ending Mar 2025 | 28,528 | 1,551 | 5.4% | 835 | 928 | -354 | S100YG98 |
| FY ending Mar 2026 | 28,859 | 2,051 | 7.1% | 1,852 | 4,483 | 3,535 | S100YG98 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥61.8M |
| Operating income per employee (consolidated) | ¥4.4M |
| Net income per employee (consolidated) | ¥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) | 489 | 469 | 465 | 465 | 467 |
| Average salary (parent company) | ¥6.2M | ¥5.4M | ¥7.3M | ¥7.9M | ¥7.6M |
| Average age (parent company) | 45.0 years | 47.0 years | 47.0 years | 48.0 years | 48.0 years |
| Average tenure (parent company) | 15.0 years | 16.0 years | 16.0 years | 17.0 years | 15.0 years |

Year over year: Employees (consolidated) +0.4% · Revenue (consolidated) +1.2%

## 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 | 4,483 | 15.5% | S100YG98 |
| Capital expenditure | 949 | 3.3% | S100YG98 |
| Free cash flow | 3,535 | 12.2% | 算出 |
| Investing cash flow | -75 | -0.3% | S100YG98 |
| Financing cash flow | -662 | -2.3% | S100YG98 |
| Dividends paid | 375 | 1.3% | S100YG98 |
| Share buyback | 280 | 1.0% | S100YG98 |
| Change in cash | 3,747 | 13.0% | S100YG98 |
| Cash and equivalents | 8,006 | 27.7% | S100YG98 |

## 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 | 5,090 | 7,955 | 5,142 | 4,259 | 8,006 | S100TU9Z, S100W2FK, S100YG98 |
| Total assets | 35,149 | 34,545 | 36,766 | 36,720 | 36,886 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Net assets | 21,722 | 21,884 | 23,318 | 23,741 | 25,120 | S100TU9Z, S100W2FK, S100YG98 |
| Share capital | 3,352 | 3,352 | 3,352 | 3,352 | 3,352 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Property, plant and equipment | 7,546 | 7,538 | 7,418 | 8,282 | 8,234 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Intangible assets excluding goodwill | 82 | 56 | 37 | 25 | 24 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Investment securities | 914 | 834 | 1,570 | 1,542 | 1,584 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Current assets | 25,493 | 24,861 | 26,722 | 25,848 | 26,336 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Current liabilities | 12,970 | 12,203 | 13,057 | 12,571 | 11,399 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Trade payables | 5,192 | 4,475 | 5,144 | 3,567 | 2,648 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Short-term borrowings | 320 | 270 | 320 | 280 | 270 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Long-term borrowings | 50 | 60 | 10 | 10 | 20 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Total liabilities | 13,427 | 12,661 | 13,448 | 12,979 | 11,765 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Equity attributable to owners of parent | 21,375 | 21,583 | 22,498 | 22,895 | 24,092 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Retained earnings | 13,666 | 13,874 | 14,790 | 15,187 | 16,664 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |
| Treasury stock | -29 | -29 | -29 | -29 | -308 | S100R9CA, S100TU9Z, S100W2FK, S100YG98 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 22% | S100YG98 |
| Property, plant and equipment | 22% | S100YG98 |
| Intangibles and goodwill | 0% | S100YG98 |
| Investment securities | 4% | S100YG98 |
| Other assets | 52% | S100YG98 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100YG98 |
| Other liabilities | 25% | S100YG98 |
| Equity | 68% | S100YG98 |

### 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 | 35,149 | 34,545 | 36,766 | 36,720 | 36,886 |
| Equity | 21,722 | 21,884 | 23,318 | 23,741 | 25,120 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,090 | 7,955 | 5,142 | 4,259 | 8,006 |

## 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) | 28.5% | S100YG98 |
| Fixed assets ÷ total assets | 22.3% | S100YG98 |
| Goodwill ÷ parent equity | — | —, S100YG98 |

### 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) | 21.7% |
| Cash ÷ revenue | 27.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 218.6% |
| Cash vs. profit gap | 2,631 JPY mn (of net income 142.1%) |
| Shareholder returns / net income | 35.4% |
| Shareholder returns / FCF | 18.5% |
| Shareholder payments — dividends / net income | 20.3% |
| Shareholder payments — dividends / FCF | 10.6% |
| CapEx intensity (capex ÷ revenue) | 3.3% |
| Investing CF relative to operating CF | 1.7% |

## 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 | 4.7% | 0.88× | 4.1% | 1.64× | 6.8% | S100R9CA |
| 2023 | 2.6% | 0.72× | 1.9% | 1.62× | 3.0% | S100TU9Z |
| 2024 | 4.1% | 0.75× | 3.1% | 1.62× | 5.0% | S100W2FK |
| 2025 | 2.9% | 0.78× | 2.3% | 1.62× | 3.7% | S100YG98 |
| 2026 | 6.4% | 0.78× | 5.0% | 1.57× | 7.9% | S100YG98 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本製鉄株式会社 | Major shareholder | 41.5% | 2026-03-31 |
| 阪和興業株式会社 | Major shareholder | 4.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.8% | 2026-03-31 |
| 日鉄物産株式会社 | Major shareholder | 2.7% | 2026-03-31 |
| エムエム建材株式会社 | Major shareholder | 2.5% | 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 | 2.0% | 2026-03-31 |
| 伊藤忠丸紅住商テクノスチール株式会社 | Major shareholder | 1.4% | 2026-03-31 |
| MSIP CLIENT SECURITIES （常任代理人 モルガン・スタンレーMUFG証券株式会社） | Major shareholder | 1.2% | 2026-03-31 |
| 入子 晃一 | Major shareholder | 1.1% | 2026-03-31 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 1.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第57期(2025/04/01－2026/03/31) | S100YG98 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG98,, |
| 有価証券報告書－第56期(2024/04/01－2025/03/31) | S100W2FK | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2FK,, |
| 有価証券報告書－第55期(2023/04/01－2024/03/31) | S100TU9Z | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TU9Z,, |
| 有価証券報告書－第54期(2022/04/01－2023/03/31) | S100R9CA | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9CA,, |
| 有価証券報告書－第53期(令和3年4月1日－令和4年3月31日) | S100OBL4 | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBL4,, |
| 有価証券報告書－第52期(令和2年4月1日－令和3年3月31日) | S100LO4G | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LO4G,, |

## 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).