# GLTECHNO HOLDINGS, INC.: 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2期(2025/04/01－2026/03/31) (S100YFOK)
> Page: https://vizora.meequs.com/en/company/gltechno-holdings
> Retrieved: 2026-09-30T21:38:32.286Z

## Company

Gltechno Holdings, founded in 2024, is a company in Robots & Factory Automation listed on TSE Standard. It has 1,245 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | GLTECHNO HOLDINGS, INC. |
| Ticker | 255A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/255A.T) |
| Listing | TSE Standard |
| Head office | 東京都新宿区西新宿六丁目22番1号 |
| Representative (per filing) | 代表取締役社長 長見 善博 |
| Founded | Oct 2024 |
| Share capital | ¥300M |
| Employees (consolidated) | 1,245 |
| Average salary (parent only) | ¥10.5M |
| Fiscal year end | March |
| Website | www.gltechno.co.jp (https://www.gltechno.co.jp/) |
| Corporate number | 2011101109000 |
| EDINET | E39741 |
| Industries (Vizora) | Robots & Factory Automation, Semiconductor Equipment, Electronic Components |

> Profile source: annual securities report (S100YFOK, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Equipment (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 34.7 | 36 |
| Profitability | 54.9 | 41 |
| Cash conversion | 19.2 | 39 |
| Efficiency | 64.6 | 41 |

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 50% of Gltechno Holdings's sales come from Semiconductor, with Analytical equipment and Automatic Identification making up much of the rest.
- Out of every ¥100 of sales, about ¥15 is left as operating profit.
- Revenue changed +9.1% from the prior year, operating profit +12.1%.

## Company structure

- Segment revenue mix: Semiconductor 50.1%、Analytical equipment 45.7%、Automatic Identification 4.2%
- Revenue → net income: ¥47189387000 → ¥5358224000
- Net income → operating cash flow: ¥5358224000 → ¥4148222000（difference ¥-1210002000）
- Main uses of operating cash flow: CapEx ¥4460690000 / dividends ¥1393285000 / buybacks ¥134876000
- Change in cash: ¥853464000
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 | ¥47.2B |  |
| Operating income | ¥7.11B | Margin 15.1% |
| Net income | ¥5.36B | Margin 11.4% |
| Free cash flow | -¥312.5M |  |
| Largest business | Semiconductor | of segment revenue 50.1% |
| Employees (consolidated) | 1,245 |  |
| EPS | ¥144.8 |  |
| Book value per share | ¥2861.81 |  |
| Equity ratio | 75.4% |  |
| Shares outstanding | 13,681,230 |  |
| Treasury shares | 655,300 |  |
| Shareholders | 5,917 |  |
| Average salary (parent only) | ¥10.5M | Filing company only |
| Cash ratio | 12.6% | Cash ÷ revenue 17.5% |
| Vs. industry median margin | +0.6 pp | Semiconductor Equipment |
| ROE | 12.2% | Derived from disclosed figures |
| ROA | 8.6% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 66% of positive segment profit

## What changed in 1 years

| Metric | FY ending Mar 2025 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥43261049000 | ¥47189387000 | +9.1% |
| Operating income | ¥6344478000 | ¥7111147000 | +12.1% |
| Operating margin | 14.7% | 15.1% | +0.4 pp |
| Employees | 1,192 people | 1,245 people | +4.4% |
| Cash and equivalents | ¥7391363000 | ¥8244828000 | +11.5% |

### Change in segment revenue mix

Span: FY ending Mar 2025 → 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 |
| --- | ---: |
| 分析機器事業 → 分析機器事業 | 45.7% |
| 分析機器事業 → 事業再編・廃止 | 0.2% |
| 半導体事業 → 半導体事業 | 49.0% |
| 自動認識事業 → 自動認識事業 | 4.2% |
| 自動認識事業 → 事業再編・廃止 | 0.4% |
| その他 → 事業再編・廃止 | 0.5% |
| 新設・再編 → 半導体事業 | 1.1% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Semiconductor | — | — | ¥23659643000 | 19.8% | 2 |
| Analytical equipment | — | — | ¥21549579000 | 10.9% | 2 |
| Automatic Identification | — | — | ¥1980164000 | 2.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 47,189 | 100.0% | S100YFOK |
| Cost of revenue | 30,930 | 65.5% | S100YFOK |
| Gross profit | 16,259 | 34.5% | S100YFOK |
| SG&A | 9,148 | 19.4% | S100YFOK |
| Operating income | 7,111 | 15.1% | S100YFOK |
| Ordinary income | 7,721 | 16.4% | S100YFOK |
| Pretax income | 7,693 | 16.3% | S100YFOK |
| Income tax | 2,335 | 4.9% | S100YFOK |
| Net income | 5,358 | 11.4% | S100YFOK |
| Net income attributable to owners | 5,358 | 11.4% | S100YFOK |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 19 |
| Operating income | 15 |
| (Ref.) Net income | 11 |

### Margin funnel

Gross margin 34.5% → Operating margin 15.1% → Net margin 11.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +9.1%; Core profit growth: +12.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.33×
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 | 43,261 | 47,189 | 3,928 | +9.1% |
| Gross profit | 15,131 | 16,259 | 1,129 | +7.5% |
| Operating income | 6,344 | 7,111 | 767 | +12.1% |
| Net income attributable to owners | 4,065 | 5,358 | 1,293 | +31.8% |
| Operating cash flow | 6,438 | 4,148 | -2,290 | -35.6% |
| Free cash flow | 3,332 | -312 | -3,644 | -109.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2025 | 43,261 | 6,344 | 14.7% | 4,065 | 6,438 | 3,332 | S100YFOK |
| FY ending Mar 2026 | 47,189 | 7,111 | 15.1% | 5,358 | 4,148 | -312 | S100YFOK |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37.9M |
| Operating income per employee (consolidated) | ¥5.7M |
| Net income per employee (consolidated) | ¥4.3M |

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

| History | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: |
| Employees (consolidated) | 1,192 | 1,245 |
| Average salary (parent company) | ¥9.3M | ¥10.5M |
| Average age (parent company) | 49.5 years | 49.5 years |
| Average tenure (parent company) | 20.0 years | 20.2 years |

Year over year: Employees (consolidated) +4.4% · Revenue (consolidated) +9.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Analytical equipment | 21,550 | 45.7% | 2,345 | 10.9% |
| Semiconductor | 23,660 | 50.1% | 4,687 | 19.8% |
| Automatic Identification | 1,980 | 4.2% | 51 | 2.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Analytical equipment | 45.7% | 33.1% | -12.6 | 10.9% |
| Semiconductor | 50.1% | 66.2% | 16.0 | 19.8% |
| Automatic Identification | 4.2% | 0.7% | -3.5 | 2.6% |

Segment → industry: Analytical equipment → Robots & Factory Automation / Semiconductor → Semiconductor Equipment / Automatic Identification → 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 | 4,148 | 8.8% | S100YFOK |
| Capital expenditure | 4,461 | 9.5% | S100YFOK |
| Free cash flow | -312 | -0.7% | 算出 |
| Investing cash flow | -4,115 | -8.7% | S100YFOK |
| Financing cash flow | 608 | 1.3% | S100YFOK |
| Dividends paid | 1,393 | 3.0% | S100YFOK |
| Share buyback | 135 | 0.3% | S100YFOK |
| Change in cash | 853 | 1.8% | S100YFOK |
| Cash and equivalents | 8,245 | 17.5% | S100YFOK |

## 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 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: |
| Cash and equivalents | 7,391 | 8,245 | S100YFOK |
| Total assets | 58,375 | 65,675 | S100YFOK |
| Net assets | 44,407 | 49,516 | S100YFOK |
| Share capital | 300 | 300 | S100YFOK |
| Property, plant and equipment | 18,668 | 21,044 | S100YFOK |
| Intangible assets excluding goodwill | 637 | 976 | S100YFOK |
| Investment securities | 3,604 | 4,382 | S100YFOK |
| Current assets | 34,341 | 37,848 | S100YFOK |
| Current liabilities | 9,890 | 10,636 | S100YFOK |
| Short-term borrowings | 2,597 | 3,559 | S100YFOK |
| Long-term borrowings | 2,536 | 3,785 | S100YFOK |
| Total liabilities | 13,968 | 16,159 | S100YFOK |
| Equity attributable to owners of parent | 41,818 | 45,717 | S100YFOK |
| Retained earnings | 31,745 | 37,103 | S100YFOK |
| Treasury stock | -76 | -208 | S100YFOK |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100YFOK |
| Property, plant and equipment | 32% | S100YFOK |
| Intangibles and goodwill | 1% | S100YFOK |
| Investment securities | 7% | S100YFOK |
| Other assets | 47% | S100YFOK |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100YFOK |
| Equity | 75% | S100YFOK |

### Balance sheet history

| Metric | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: |
| Total assets | 58,375 | 65,675 |
| Equity | 44,407 | 49,516 |
| Interest-bearing debt | — | — |
| Cash | 7,391 | 8,245 |

## 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) | 44.6% | S100YFOK |
| Fixed assets ÷ total assets | 32.0% | S100YFOK |
| Goodwill ÷ parent equity | — | —, S100YFOK |

### 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) | 12.6% |
| Cash ÷ revenue | 17.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 58.3% |
| Cash vs. profit gap | -1,210 JPY mn (of net income -22.6%) |
| Shareholder returns / net income | 28.5% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 26.0% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 9.5% |
| Investing CF relative to operating CF | 99.2% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2025 | 9.4% | 0.74× | 7.0% | 1.40× | 9.7% | S100YFOK |
| 2026 | 11.4% | 0.76× | 8.6% | 1.42× | 12.2% | S100YFOK |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ジーエルテクノホールディングス従業員持株会 | Major shareholder | 7.0% | 2026-03-31 |
| 株式会社島津製作所 | Major shareholder | 4.5% | 2026-03-31 |
| 森 禮子 | Major shareholder | 4.0% | 2026-03-31 |
| 光通信ＫＫ投資事業有限責任組合 | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.3% | 2026-03-31 |
| 東京中小企業投資育成株式会社 | Major shareholder | 3.3% | 2026-03-31 |
| 公益財団法人世界自然保護基金ジャパン | Major shareholder | 3.1% | 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 |
| J.P. MORGAN SE - LUXEMBOURGBRANCH 381639（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.0% | 2026-03-31 |
| 西川計測株式会社 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第2期(2025/04/01－2026/03/31) | S100YFOK | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFOK,, |
| 有価証券報告書－第1期(2024/04/01－2025/03/31) | S100W0QK | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0QK,, |

## 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).