# HIRATA 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75期(2025/04/01－2026/03/31) (S100YH6Y)
> Page: https://vizora.meequs.com/en/company/hirata
> Retrieved: 2026-09-30T21:00:45.616Z

## Company

Hirata, founded in 1920, is a company in Semiconductor Equipment listed on TSE Prime. It has 1,984 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | HIRATA Corporation |
| Ticker | 6258 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6258.T) |
| Listing | TSE Prime |
| Head office | 熊本県熊本市北区植木町一木111番地 |
| Representative (per filing) | 代表取締役社長 前田 繁 |
| Founded | Mar 1920 |
| Share capital | ¥2.63B |
| Employees (consolidated) | 1,984 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.hirata.co.jp (https://www.hirata.co.jp/) |
| Corporate number | 4010701008411 |
| EDINET | E01733 |
| Industries (Vizora) | Semiconductor Equipment, Industrial Machinery |

> Profile source: annual securities report (S100YH6Y, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 56.8 | 110 |
| Profitability | 57 | 122 |
| Cash conversion | 77.2 | 116 |
| Efficiency | 50.4 | 122 |

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 Hirata's sales come from Automobile-related production equipment, with Semiconductor-related production equipment and Other automatic labor-saving equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥9 is left as operating profit.
- Revenue changed +7.3% from the prior year, operating profit +20.5%.

## Company structure

- Segment revenue mix: Automobile-related production equipment 45.8%、Semiconductor-related production equipment 38.0%、Other automatic labor-saving equipment 13.2%、Other 2.9%
- Revenue → net income: ¥94906641000 → ¥6069024000
- Net income → operating cash flow: ¥6069024000 → ¥16546678000（difference ¥10477654000）
- Main uses of operating cash flow: CapEx ¥3784376000 / dividends ¥1230331000 / buybacks ¥273000
- Change in cash: ¥120707000
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 | ¥94.9B |  |
| Operating income | ¥8.32B | Margin 8.8% |
| Net income | ¥6.08B | Margin 6.4% |
| Free cash flow | ¥12.8B |  |
| Largest business | Automobile-related production equipment | of segment revenue 45.8% |
| Employees (consolidated) | 1,984 |  |
| EPS | ¥170.85 |  |
| Book value per share | ¥1935.83 |  |
| Equity ratio | 58.4% |  |
| Shares outstanding | 32,268,270 |  |
| Treasury shares | 1,355,000 |  |
| Shareholders | 18,572 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 9.9% | Cash ÷ revenue 13.7% |
| Vs. industry median margin | +1.2 pp | Industrial Machinery |
| ROE | 10.0% | Derived from disclosed figures |
| ROA | 4.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.7× net income
- FY2026, one segment accounts for 62% of positive segment profit
- FY2026, employees -1% while operating income rose 21%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥65255919000 | ¥94906641000 | +45.4% |
| Operating income | ¥4995273000 | ¥8315381000 | +66.5% |
| Operating margin | 7.7% | 8.8% | +1.1 pp |
| Employees | 1,862 people | 1,984 people | +6.6% |
| Cash and equivalents | ¥12685736000 | ¥13003135000 | +2.5% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 日本 → 事業再編・廃止 | 83.9% |
| アジア → 事業再編・廃止 | 8.2% |
| 北米 → 事業再編・廃止 | 6.2% |
| 欧州 → 事業再編・廃止 | 1.6% |
| 新設・再編 → 自動車関連 | 45.8% |
| 新設・再編 → 半導体関連 | 38.0% |
| 新設・再編 → その他自動省力機器 | 13.2% |
| 新設・再編 → その他 | 2.9% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Automobile-related production equipment | 4 years | +13.6% | ¥43478578000 | 11.8% | 2 |
| Semiconductor-related production equipment | 4 years | +14.6% | ¥36106069000 | 6.7% | 2 |
| Other automatic labor-saving equipment | 4 years | -8.6% | ¥12572104000 | 5.3% | 2 |
| Other | 4 years | +7.7% | ¥2749888000 | 2.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 94,907 | 100.0% | S100YH6Y |
| Cost of revenue | 74,100 | 78.1% | S100YH6Y |
| Gross profit | 20,807 | 21.9% | S100YH6Y |
| SG&A | 12,491 | 13.2% | S100YH6Y |
| Operating income | 8,315 | 8.8% | S100YH6Y |
| Ordinary income | 8,375 | 8.8% | S100YH6Y |
| Pretax income | 8,352 | 8.8% | S100YH6Y |
| Income tax | 2,283 | 2.4% | S100YH6Y |
| Net income | 6,069 | 6.4% | S100YH6Y |
| Net income attributable to owners | 6,077 | 6.4% | S100YH6Y |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 13 |
| Operating income | 9 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 21.9% → Operating margin 8.8% → Net margin 6.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.3%; Core profit growth: +20.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.83×
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 | 88,484 | 94,907 | 6,423 | +7.3% |
| Gross profit | 18,962 | 20,807 | 1,844 | +9.7% |
| Operating income | 6,898 | 8,315 | 1,417 | +20.5% |
| Net income attributable to owners | 4,778 | 6,077 | 1,299 | +27.2% |
| Operating cash flow | 9,428 | 16,547 | 7,119 | +75.5% |
| Free cash flow | 7,130 | 12,762 | 5,632 | +79.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 65,612 | 2,737 | 4.2% | 1,745 | 8,095 | 5,394 | S100LPFQ |
| FY ending Mar 2021 | 65,256 | 4,995 | 7.7% | 4,076 | 690 | -1,646 | S100OFPH |
| FY ending Mar 2022 | 67,087 | 3,856 | 5.7% | 2,682 | -3,444 | -4,620 | S100RNN8 |
| FY ending Mar 2023 | 78,444 | 5,920 | 7.5% | 4,270 | -5,688 | -8,132 | S100TSJV |
| FY ending Mar 2024 | 82,839 | 6,048 | 7.3% | 4,344 | -4,592 | -7,841 | S100W3DG |
| FY ending Mar 2025 | 88,484 | 6,898 | 7.8% | 4,778 | 9,428 | 7,130 | S100YH6Y |
| FY ending Mar 2026 | 94,907 | 8,315 | 8.8% | 6,077 | 16,547 | 12,762 | S100YH6Y |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥47.8M |
| Operating income per employee (consolidated) | ¥4.2M |
| Net income per employee (consolidated) | ¥3.1M |

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) | 1,881 | 1,882 | 1,967 | 1,995 | 1,984 |
| Average salary (parent company) | ¥7.1M | ¥6.8M | ¥6.9M | ¥7M | ¥7.4M |
| Average age (parent company) | 42.2 years | 41.5 years | 40.8 years | 40.1 years | 39.7 years |
| Average tenure (parent company) | 19.3 years | 18.3 years | 17.1 years | 16.3 years | 15.9 years |

Year over year: Employees (consolidated) -0.6% · Revenue (consolidated) +7.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Automobile-related production equipment | 43,479 | 45.8% | 5,143 | 11.8% |
| Semiconductor-related production equipment | 36,106 | 38.0% | 2,419 | 6.7% |
| Other automatic labor-saving equipment | 12,572 | 13.2% | 670 | 5.3% |
| Other | 2,750 | 2.9% | 80 | 2.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Automobile-related production equipment | 45.8% | 61.9% | 16.1 | 11.8% |
| Semiconductor-related production equipment | 38.0% | 29.1% | -8.9 | 6.7% |
| Other automatic labor-saving equipment | 13.2% | 8.1% | -5.2 | 5.3% |
| Other | 2.9% | 1.0% | -1.9 | 2.9% |

Segment → industry: Semiconductor-related production equipment → Semiconductor Equipment / Other automatic labor-saving equipment → Industrial Machinery / Automobile-related production equipment → Industrial Machinery

## 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 | 16,547 | 17.4% | S100YH6Y |
| Capital expenditure | 3,784 | 4.0% | S100YH6Y |
| Free cash flow | 12,762 | 13.4% | 算出 |
| Investing cash flow | -3,762 | -4.0% | S100YH6Y |
| Financing cash flow | -12,975 | -13.7% | S100YH6Y |
| Dividends paid | 1,230 | 1.3% | S100YH6Y |
| Share buyback | 0 | 0.0% | S100YH6Y |
| Change in cash | 121 | 0.1% | S100YH6Y |
| Cash and equivalents | 13,003 | 13.7% | S100YH6Y |

## 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 | 12,939 | 11,134 | 10,653 | 12,882 | 13,003 | S100TSJV, S100W3DG, S100YH6Y |
| Total assets | 99,486 | 114,523 | 130,788 | 130,279 | 131,277 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Net assets | 54,939 | 59,576 | 65,302 | 68,839 | 76,906 | S100TSJV, S100W3DG, S100YH6Y |
| Share capital | 2,634 | 2,634 | 2,634 | 2,634 | 2,634 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Inventories | 10,567 | 14,219 | 14,265 | 15,510 | 17,447 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Property, plant and equipment | 23,526 | 24,302 | 27,438 | 26,593 | 28,165 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Intangible assets excluding goodwill | 500 | 750 | 905 | 1,161 | 1,311 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Investment securities | 2,081 | 2,328 | 2,731 | 2,739 | 4,030 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Current assets | 67,004 | 79,655 | 88,554 | 88,035 | 81,732 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Current liabilities | 31,612 | 43,193 | 49,864 | 43,295 | 38,612 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Trade payables | 6,154 | 6,967 | 5,200 | 6,053 | 6,706 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Short-term borrowings | 8,500 | 12,612 | 17,861 | 8,946 | 1,400 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Long-term borrowings | 9,606 | 7,738 | 9,477 | 11,836 | 8,940 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Total liabilities | 44,547 | 54,947 | 65,486 | 61,439 | 54,371 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Non-controlling interests | 432 | 396 | 274 | 228 | 237 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Equity attributable to owners of parent | 48,239 | 51,906 | 55,328 | 58,061 | 62,982 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Retained earnings | 33,748 | 37,382 | 40,786 | 44,519 | 49,365 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |
| Treasury stock | -2,452 | -2,429 | -2,411 | -3,412 | -3,351 | S100RNN8, S100TSJV, S100W3DG, S100YH6Y |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YH6Y |
| Inventories | 13% | S100YH6Y |
| Property, plant and equipment | 22% | S100YH6Y |
| Intangibles and goodwill | 1% | S100YH6Y |
| Investment securities | 3% | S100YH6Y |
| Other assets | 51% | S100YH6Y |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YH6Y |
| Other liabilities | 36% | S100YH6Y |
| Equity | 59% | S100YH6Y |

### 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 | 99,486 | 114,523 | 130,788 | 130,279 | 131,277 |
| Equity | 54,939 | 59,576 | 65,302 | 68,839 | 76,906 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 12,939 | 11,134 | 10,653 | 12,882 | 13,003 |

## 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) | 29.7% | S100YH6Y |
| Fixed assets ÷ total assets | 21.5% | S100YH6Y |
| Goodwill ÷ parent equity | — | —, S100YH6Y |

### 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) | 9.9% |
| Cash ÷ revenue | 13.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 199.0% |
| Cash vs. profit gap | 10,469 JPY mn (of net income 172.3%) |
| Shareholder returns / net income | 20.2% |
| Shareholder returns / FCF | 9.6% |
| Shareholder payments — dividends / net income | 20.2% |
| Shareholder payments — dividends / FCF | 9.6% |
| CapEx intensity (capex ÷ revenue) | 4.0% |
| Investing CF relative to operating CF | 22.7% |

## 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 | 4.0% | 0.67× | 2.7% | 2.06× | 5.6% | S100RNN8 |
| 2023 | 5.4% | 0.73× | 4.0% | 2.14× | 8.5% | S100TSJV |
| 2024 | 5.2% | 0.68× | 3.5% | 2.29× | 8.1% | S100W3DG |
| 2025 | 5.4% | 0.68× | 3.7% | 2.30× | 8.4% | S100YH6Y |
| 2026 | 6.4% | 0.73× | 4.6% | 2.16× | 10.0% | S100YH6Y |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託 銀行株式会社（信託口） | Major shareholder | 10.0% | 2026-03-31 |
| SMC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 | 4.4% | 2026-03-31 |
| 株式会社肥後銀行 | Major shareholder | 4.4% | 2026-03-31 |
| みずほ信託銀行株式会社 （信託口）0700096 | Major shareholder | 3.9% | 2026-03-31 |
| 平田雄一郎 | Major shareholder | 2.8% | 2026-03-31 |
| ニッコンホールディングス 株式会社 | Major shareholder | 2.6% | 2026-03-31 |
| 平田機工社員持株会 | Major shareholder | 2.1% | 2026-03-31 |
| 山洋電気株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| JPモルガン証券株式会社 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第75期(2025/04/01－2026/03/31) | S100YH6Y | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH6Y,, |
| 有価証券報告書－第74期(2024/04/01－2025/03/31) | S100W3DG | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3DG,, |
| 有価証券報告書－第73期(2023/04/01－2024/03/31) | S100TSJV | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSJV,, |
| 訂正有価証券報告書－第72期(2022/04/01－2023/03/31) | S100RNN8 | 2023-08-10 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RNN8,, |
| 有価証券報告書－第71期(令和3年4月1日－令和4年3月31日) | S100OFPH | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFPH,, |
| 有価証券報告書－第70期(令和2年4月1日－令和3年3月31日) | S100LPFQ | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPFQ,, |

## 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).