# HASHIMOTO SOGYO HOLDINGS 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89期(2025/04/01－2026/03/31) (S100YK09)
> Page: https://vizora.meequs.com/en/company/hashimoto-sogyo-holdings
> Retrieved: 2026-09-30T17:59:35.850Z

## Company

Hashimoto Sogyo Holdings, founded in 1938, is a company in Specialty Trading & Wholesale listed on TSE Standard. It has 983 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | HASHIMOTO SOGYO HOLDINGS CO.,LTD. |
| Ticker | 7570 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7570.T) |
| Listing | TSE Standard |
| Head office | 東京都中央区日本橋小伝馬町14番7号 |
| Representative (per filing) | 代表取締役社長 橋本 政昭 |
| Founded | Mar 1938 |
| Share capital | ¥542M |
| Employees (consolidated) | 983 |
| Fiscal year end | March |
| Corporate number | 9010001054242 |
| EDINET | E02879 |
| Industries (Vizora) | Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YK09, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 51.1 | 179 |
| Profitability | 23 | 185 |
| Cash conversion | 84.6 | 179 |
| Efficiency | 76.5 | 185 |

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 28% of Hashimoto Sogyo Holdings's sales come from Plumber equipment, with Sanitary equipment and Air-conditioning and Pumping equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥2 is left as operating profit.
- Revenue changed +4.3% from the prior year, operating profit +3.4%.

## Company structure

- Segment revenue mix: Plumber equipment 28.3%、Sanitary equipment 27.1%、Air-conditioning and Pumping equipment 25.5%、Household appliance 17.7%、Other 1.5%
- Revenue → net income: ¥172462000000 → ¥2818000000
- Net income → operating cash flow: ¥2818000000 → ¥4815000000（difference ¥1997000000）
- Main uses of operating cash flow: CapEx ¥2247000000 / dividends ¥956000000 / buybacks ¥0
- Change in cash: ¥785000000
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 | ¥172.5B |  |
| Operating income | ¥2.53B | Margin 1.5% |
| Net income | ¥2.82B | Margin 1.6% |
| Free cash flow | ¥2.57B |  |
| Largest business | Plumber equipment | of segment revenue 28.3% |
| Employees (consolidated) | 983 |  |
| EPS | ¥43.2 |  |
| Diluted EPS | ¥43.08 |  |
| Book value per share | ¥885.37 |  |
| Equity ratio | 42.9% |  |
| Shares outstanding | 21,293,052 |  |
| Treasury shares | 1,833,700 |  |
| Shareholders | 11,334 |  |
| Cash ratio | 6.6% | Cash ÷ revenue 3.2% |
| Vs. industry median margin | -1.4 pp | Specialty Trading & Wholesale |
| ROE | 9.5% | Derived from disclosed figures |
| ROA | 3.3% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥131690000000 | ¥172462000000 | +31.0% |
| Operating income | ¥2478000000 | ¥2527000000 | +2.0% |
| Operating margin | 1.9% | 1.5% | -0.4 pp |
| Employees | 843 people | 983 people | +16.6% |
| Cash and equivalents | ¥3616000000 | ¥5595000000 | +54.7% |

### 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 |
| --- | ---: |
| 管材類 → 管材類 | 28.3% |
| 衛生陶器・金具類 → 衛生陶器・金具類 | 27.1% |
| 衛生陶器・金具類 → 事業再編・廃止 | 3.7% |
| 住宅設備機器類 → 住宅設備機器類 | 17.4% |
| 空調機器・ポンプ → 空調機器・ポンプ | 22.5% |
| その他 → その他 | 1.0% |
| 新設・再編 → 管材類 | 0.0% |
| 新設・再編 → 住宅設備機器類 | 0.3% |
| 新設・再編 → 空調機器・ポンプ | 3.0% |
| 新設・再編 → その他 | 0.5% |

Segment revenue source references: 10 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Plumber equipment | 5 years | +5.5% | ¥48770000000 | — | 2 |
| Sanitary equipment | 5 years | +2.8% | ¥46691000000 | — | 2 |
| Air-conditioning and Pumping equipment | 5 years | +8.2% | ¥44008000000 | — | 2 |
| Household appliance | 5 years | +5.8% | ¥30453000000 | — | 2 |
| Other | 5 years | +14.9% | ¥2538000000 | — | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 172,462 | 100.0% | S100YK09 |
| Cost of revenue | 154,167 | 89.4% | S100YK09 |
| Gross profit | 18,295 | 10.6% | S100YK09 |
| SG&A | 15,768 | 9.1% | S100YK09 |
| Operating income | 2,527 | 1.5% | S100YK09 |
| Ordinary income | 3,452 | 2.0% | S100YK09 |
| Pretax income | 4,200 | 2.4% | S100YK09 |
| Income tax | 1,381 | 0.8% | S100YK09 |
| Net income | 2,818 | 1.6% | S100YK09 |
| Net income attributable to owners | 2,818 | 1.6% | S100YK09 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 89 |
| SG&A | 9 |
| Operating income | 2 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 10.6% → Operating margin 1.5% → Net margin 1.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.3%; Core profit growth: +3.4%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 0.79×
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 | 165,339 | 172,462 | 7,123 | +4.3% |
| Gross profit | 17,443 | 18,295 | 852 | +4.9% |
| Operating income | 2,444 | 2,527 | 83 | +3.4% |
| Net income attributable to owners | 2,890 | 2,818 | -72 | -2.5% |
| Operating cash flow | 2,471 | 4,815 | 2,344 | +94.9% |
| Free cash flow | -4,609 | 2,568 | 7,177 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 137,815 | 2,919 | 2.1% | 2,117 | 1,427 | 940 | S100LT8F |
| FY ending Mar 2021 | 131,690 | 2,478 | 1.9% | 2,233 | -939 | -2,935 | S100OJVX |
| FY ending Mar 2022 | 137,606 | 2,504 | 1.8% | 2,407 | 1,936 | -179 | S100R3XW |
| FY ending Mar 2023 | 148,189 | 2,807 | 1.9% | 2,569 | 2,291 | 1,442 | S100TTJV |
| FY ending Mar 2024 | 155,633 | 2,309 | 1.5% | 2,609 | 3,680 | 2,454 | S100W6TW |
| FY ending Mar 2025 | 165,339 | 2,444 | 1.5% | 2,890 | 2,471 | -4,609 | S100YK09 |
| FY ending Mar 2026 | 172,462 | 2,527 | 1.5% | 2,818 | 4,815 | 2,568 | S100YK09 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥175.4M |
| Operating income per employee (consolidated) | ¥2.6M |
| Net income per employee (consolidated) | ¥2.9M |

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) | 869 | 874 | 903 | 938 | 983 |
| Average salary (parent company) | — | — | — | — | — |
| Average age (parent company) | — | — | — | — | — |
| Average tenure (parent company) | — | — | — | — | — |

Year over year: Employees (consolidated) +4.8% · Revenue (consolidated) +4.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Plumber equipment | 48,770 | 28.3% | — | — |
| Sanitary equipment | 46,691 | 27.1% | — | — |
| Household appliance | 30,453 | 17.7% | — | — |
| Air-conditioning and Pumping equipment | 44,008 | 25.5% | — | — |
| Other | 2,538 | 1.5% | — | — |

### 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 |
| --- | ---: |
| Plumber equipment | 28.3% |
| Sanitary equipment | 27.1% |
| Household appliance | 17.7% |
| Air-conditioning and Pumping equipment | 25.5% |
| Other | 1.5% |

Segment → industry: Air-conditioning and Pumping equipment → Specialty Trading & Wholesale / Household appliance → Specialty Trading & Wholesale / Sanitary equipment → Specialty Trading & Wholesale / Plumber equipment → 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 | 4,815 | 2.8% | S100YK09 |
| Capital expenditure | 2,247 | 1.3% | S100YK09 |
| Free cash flow | 2,568 | 1.5% | 算出 |
| Investing cash flow | 3,524 | 2.0% | S100YK09 |
| Financing cash flow | -7,554 | -4.4% | S100YK09 |
| Dividends paid | 956 | 0.6% | S100YK09 |
| Share buyback | 0 | 0.0% | S100YK09 |
| Change in cash | 785 | 0.5% | S100YK09 |
| Cash and equivalents | 5,595 | 3.2% | S100YK09 |

## 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 | 3,284 | 3,396 | 5,496 | 4,810 | 5,595 | S100TTJV, S100W6TW, S100YK09 |
| Total assets | 64,425 | 72,014 | 79,996 | 85,500 | 84,994 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Net assets | 25,941 | 28,184 | 31,219 | 32,317 | 36,479 | S100TTJV, S100W6TW, S100YK09 |
| Share capital | 542 | 542 | 542 | 542 | 542 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Trade receivables | 23,928 | 25,006 | 25,113 | 25,566 | 24,440 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Property, plant and equipment | 12,167 | 12,315 | 11,757 | 18,475 | 19,313 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Intangible assets excluding goodwill | 388 | 701 | 984 | 1,165 | 1,107 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Goodwill | — | — | 20 | 15 | 10 | S100W6TW, S100YK09 |
| Investment securities | 5,964 | 7,475 | 10,414 | 9,575 | 11,914 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Current assets | 40,157 | 44,830 | 48,986 | 48,674 | 47,413 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Current liabilities | 32,261 | 38,452 | 41,905 | 44,115 | 38,748 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Trade payables | 15,425 | 16,672 | 17,284 | 17,011 | 16,895 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Short-term borrowings | 3,928 | 6,199 | 5,684 | 8,670 | 2,620 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Long-term borrowings | 3,204 | 2,175 | 2,386 | 4,732 | 4,421 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Total liabilities | 38,484 | 43,830 | 48,777 | 53,182 | 48,514 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Non-controlling interests | 20 | 22 | — | — | — | S100R3XW, S100TTJV |
| Equity attributable to owners of parent | 24,270 | 26,096 | 27,225 | 28,621 | 30,520 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Retained earnings | 23,773 | 25,582 | 27,200 | 29,195 | 31,059 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |
| Treasury stock | -512 | -503 | -1,007 | -1,613 | -1,581 | S100R3XW, S100TTJV, S100W6TW, S100YK09 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YK09 |
| Receivables | 29% | S100YK09 |
| Property, plant and equipment | 23% | S100YK09 |
| Intangibles and goodwill | 1% | S100YK09 |
| Investment securities | 14% | S100YK09 |
| Other assets | 27% | S100YK09 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 20% | S100YK09 |
| Other liabilities | 37% | S100YK09 |
| Equity | 43% | S100YK09 |
| Other liabilities | 0% | S100YK09 |

### 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 | 64,425 | 72,014 | 79,996 | 85,500 | 84,994 |
| Equity | 25,941 | 28,184 | 31,219 | 32,317 | 36,479 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,284 | 3,396 | 5,496 | 4,810 | 5,595 |

## 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) | 11.2% | S100YK09 |
| Fixed assets ÷ total assets | 22.7% | S100YK09 |
| Goodwill ÷ parent equity | 0.0% | S100YK09 |

### 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) | 6.6% |
| Cash ÷ revenue | 3.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 190.5% |
| Cash vs. profit gap | 1,997 JPY mn (of net income 70.9%) |
| Shareholder returns / net income | 33.9% |
| Shareholder returns / FCF | 37.2% |
| Shareholder payments — dividends / net income | 33.9% |
| Shareholder payments — dividends / FCF | 37.2% |
| CapEx intensity (capex ÷ revenue) | 1.3% |
| Investing CF relative to operating CF | 73.2% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 1.7% | 2.14× | 3.7% | 2.65× | 9.9% | S100R3XW |
| 2023 | 1.7% | 2.17× | 3.8% | 2.71× | 10.2% | S100TTJV |
| 2024 | 1.7% | 2.05× | 3.4% | 2.85× | 9.8% | S100W6TW |
| 2025 | 1.7% | 2.00× | 3.5% | 2.96× | 10.3% | S100YK09 |
| 2026 | 1.6% | 2.02× | 3.3% | 2.88× | 9.5% | S100YK09 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 有限会社ハット企画 | Major shareholder | 23.5% | 2026-03-31 |
| 橋本総業従業員持株会 | Major shareholder | 7.1% | 2026-03-31 |
| 橋本総業取引先持株会 | Major shareholder | 6.7% | 2026-03-31 |
| 橋本総業得意先持株会 | Major shareholder | 4.1% | 2026-03-31 |
| 橋本 政昭 | Major shareholder | 2.9% | 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 | 2.8% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 2.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社ヨコヤマ | Major shareholder | 2.0% | 2026-03-31 |
| 株式会社小泉 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第89期(2025/04/01－2026/03/31) | S100YK09 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YK09,, |
| 有価証券報告書－第88期(2024/04/01－2025/03/31) | S100W6TW | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6TW,, |
| 有価証券報告書－第87期(2023/04/01－2024/03/31) | S100TTJV | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTJV,, |
| 有価証券報告書－第86期(2022/04/01－2023/03/31) | S100R3XW | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R3XW,, |
| 有価証券報告書－第85期(令和3年4月1日－令和4年3月31日) | S100OJVX | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJVX,, |
| 有価証券報告書－第84期(令和2年4月1日－令和3年3月31日) | S100LT8F | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LT8F,, |

## 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).