# HOCHIKI 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130期(2025/04/01－2026/03/31) (S100YH50)
> Page: https://vizora.meequs.com/en/company/hochiki
> Retrieved: 2026-09-30T21:03:43.750Z

## Company

Hochiki, founded in 1918, is a company in Disaster Prevention & Infrastructure Maintenance listed on TSE Prime. It has 2,722 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | HOCHIKI CORPORATION |
| Ticker | 6745 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6745.T) |
| Listing | TSE Prime |
| Head office | 東京都品川区上大崎二丁目10番43号 |
| Representative (per filing) | 代表取締役社長執行役員 細井元 |
| Founded | Apr 1918 |
| Share capital | ¥3.8B |
| Employees (consolidated) | 2,722 |
| Average salary (parent only) | ¥7.4M |
| Fiscal year end | March |
| Website | www.hochiki.co.jp (https://www.hochiki.co.jp/) |
| Corporate number | 3010701008973 |
| EDINET | E01802 |
| Industries (Vizora) | Disaster Prevention & Infrastructure Maintenance, Security Services |

> Profile source: annual securities report (S100YH50, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Disaster Prevention & Infrastructure Maintenance (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 64.3 | 35 |
| Profitability | 68.8 | 40 |
| Cash conversion | 59.2 | 38 |
| Efficiency | 76.3 | 40 |

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)

- Hochiki brought in ¥105.9B in revenue.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +4.9% from the prior year, operating profit +26.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥105855000000 → ¥9379000000
- Net income → operating cash flow: ¥9379000000 → ¥10626000000（difference ¥1247000000）
- Main uses of operating cash flow: CapEx ¥1981000000 / dividends ¥2279000000 / buybacks ¥0
- Change in cash: ¥6791000000
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 | ¥105.9B |  |
| Operating income | ¥12.1B | Margin 11.4% |
| Net income | ¥9.38B | Margin 8.9% |
| Free cash flow | ¥8.64B |  |
| Employees (consolidated) | 2,722 |  |
| EPS | ¥101.22 |  |
| Book value per share | ¥702.21 |  |
| Equity ratio | 69.8% |  |
| Shares outstanding | 26,400,000 |  |
| Treasury shares | 1,319,400 |  |
| Shareholders | 9,450 |  |
| Average salary (parent only) | ¥7.4M | Filing company only |
| Cash ratio | 28.3% | Cash ÷ revenue 26.2% |
| Vs. industry median margin | +2.6 pp | Disaster Prevention & Infrastructure Maintenance |
| ROE | 16.2% | Derived from disclosed figures |
| ROA | 10.0% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 28% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥76567000000 | ¥105855000000 | +38.3% |
| Operating income | ¥5180000000 | ¥12066000000 | +132.9% |
| Operating margin | 6.8% | 11.4% | +4.6 pp |
| Employees | 2,060 people | 2,722 people | +32.1% |
| Cash and equivalents | ¥12513000000 | ¥27713000000 | +121.5% |

### 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 |
| --- | ---: |
| 防災事業 → 事業再編・廃止 | 83.1% |
| 情報通信事業等 → 事業再編・廃止 | 16.9% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 105,855 | 100.0% | S100YH50 |
| Cost of revenue | 64,186 | 60.6% | S100YH50 |
| Gross profit | 41,669 | 39.4% | S100YH50 |
| SG&A | 29,602 | 28.0% | S100YH50 |
| Operating income | 12,066 | 11.4% | S100YH50 |
| Ordinary income | 12,344 | 11.7% | S100YH50 |
| Pretax income | 12,370 | 11.7% | S100YH50 |
| Income tax | 2,991 | 2.8% | S100YH50 |
| Net income | 9,379 | 8.9% | S100YH50 |
| Net income attributable to owners | 9,377 | 8.9% | S100YH50 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 61 |
| SG&A | 28 |
| Operating income | 11 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 39.4% → Operating margin 11.4% → Net margin 8.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.9%; Core profit growth: +26.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 5.36×
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 | 100,900 | 105,855 | 4,955 | +4.9% |
| Gross profit | 37,153 | 41,669 | 4,516 | +12.2% |
| Operating income | 9,553 | 12,066 | 2,513 | +26.3% |
| Net income attributable to owners | 7,650 | 9,377 | 1,727 | +22.6% |
| Operating cash flow | 11,874 | 10,626 | -1,248 | -10.5% |
| Free cash flow | 9,885 | 8,645 | -1,240 | -12.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 80,551 | 5,234 | 6.5% | 3,737 | 5,363 | 3,837 | S100LPSC |
| FY ending Mar 2021 | 76,567 | 5,180 | 6.8% | 3,825 | 4,051 | 3,009 | S100OFY4 |
| FY ending Mar 2022 | 81,251 | 5,479 | 6.7% | 4,124 | 7,792 | 7,109 | S100R6M7 |
| FY ending Mar 2023 | 85,457 | 5,590 | 6.5% | 4,422 | 415 | -1,877 | S100TS28 |
| FY ending Mar 2024 | 93,485 | 7,375 | 7.9% | 5,661 | 775 | -1,044 | S100W2KY |
| FY ending Mar 2025 | 100,900 | 9,553 | 9.5% | 7,650 | 11,874 | 9,885 | S100YH50 |
| FY ending Mar 2026 | 105,855 | 12,066 | 11.4% | 9,377 | 10,626 | 8,645 | S100YH50 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥38.9M |
| Operating income per employee (consolidated) | ¥4.4M |
| Net income per employee (consolidated) | ¥3.4M |

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) | 2,065 | 2,184 | 2,295 | 2,383 | 2,722 |
| Average salary (parent company) | ¥7M | ¥7M | ¥7M | ¥7.3M | ¥7.4M |
| Average age (parent company) | 40.7 years | 40.7 years | 40.6 years | 40.3 years | 41.7 years |
| Average tenure (parent company) | 14.1 years | 13.7 years | 13.4 years | 13.0 years | 13.6 years |

Year over year: Employees (consolidated) +14.2% · Revenue (consolidated) +4.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| FireAlarmSystems | — | — | 11,187 | — |
| Maintenance | — | — | 5,289 | — |
| FireExtinguishingSystems | — | — | 1,649 | — |
| SecuritySystems | — | — | 777 | — |

### 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 | Profit share |
| --- | ---: |
| FireAlarmSystems | 59.2% |
| Maintenance | 28.0% |
| FireExtinguishingSystems | 8.7% |
| SecuritySystems | 4.1% |

Segment → industry: FireExtinguishingSystems → Disaster Prevention & Infrastructure Maintenance / Maintenance → Disaster Prevention & Infrastructure Maintenance / FireAlarmSystems → Disaster Prevention & Infrastructure Maintenance / SecuritySystems → Security Services

## 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 | 10,626 | 10.0% | S100YH50 |
| Capital expenditure | 1,981 | 1.9% | S100YH50 |
| Free cash flow | 8,645 | 8.2% | 算出 |
| Investing cash flow | -1,631 | -1.5% | S100YH50 |
| Financing cash flow | -2,683 | -2.5% | S100YH50 |
| Dividends paid | 2,279 | 2.2% | S100YH50 |
| Share buyback | 0 | 0.0% | S100YH50 |
| Change in cash | 6,791 | 6.4% | S100YH50 |
| Cash and equivalents | 27,713 | 26.2% | S100YH50 |

## 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 | 18,617 | 15,310 | 11,420 | 20,921 | 27,713 | S100TS28, S100W2KY, S100YH50 |
| Total assets | 73,912 | 77,816 | 85,233 | 89,655 | 97,936 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Net assets | 42,854 | 46,340 | 52,911 | 59,321 | 68,469 | S100TS28, S100W2KY, S100YH50 |
| Share capital | 3,798 | 3,798 | 3,798 | 3,798 | 3,798 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Property, plant and equipment | 9,707 | 10,882 | 12,272 | 12,663 | 12,842 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Intangible assets excluding goodwill | 854 | 878 | 857 | 1,060 | 1,467 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Goodwill | 179 | 301 | 223 | 145 | 93 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Investment securities | 3,917 | 3,855 | 5,877 | 5,280 | 6,128 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Current assets | 55,540 | 58,368 | 61,767 | 66,087 | 72,721 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Current liabilities | 24,260 | 24,674 | 25,153 | 23,055 | 22,160 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Trade payables | 4,213 | 4,256 | 4,433 | 3,865 | 4,186 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Long-term borrowings | — | 20 | — | — | — | S100TS28 |
| Total liabilities | 31,057 | 31,476 | 32,322 | 30,333 | 29,467 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Non-controlling interests | 162 | 164 | 173 | 204 | 66 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Equity attributable to owners of parent | 41,595 | 44,655 | 48,145 | 54,373 | 61,438 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Retained earnings | 39,206 | 42,389 | 46,180 | 49,681 | 56,775 | S100R6M7, S100TS28, S100W2KY, S100YH50 |
| Treasury stock | -4,138 | -4,260 | -4,561 | -1,835 | -1,835 | S100R6M7, S100TS28, S100W2KY, S100YH50 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100YH50 |
| Property, plant and equipment | 13% | S100YH50 |
| Intangibles and goodwill | 2% | S100YH50 |
| Investment securities | 6% | S100YH50 |
| Other assets | 51% | S100YH50 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YH50 |
| Other liabilities | 26% | S100YH50 |
| Equity | 70% | S100YH50 |

### 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 | 73,912 | 77,816 | 85,233 | 89,655 | 97,936 |
| Equity | 42,854 | 46,340 | 52,911 | 59,321 | 68,469 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 18,617 | 15,310 | 11,420 | 20,921 | 27,713 |

## 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) | 12.1% | S100YH50 |
| Fixed assets ÷ total assets | 13.1% | S100YH50 |
| Goodwill ÷ parent equity | 0.2% | S100YH50 |

Goodwill over 4 years: 179 → 93 JPY; total investing cash flow: -7,674 JPY. This does not imply causation.

### 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) | 28.3% |
| Cash ÷ revenue | 26.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 88.1% |
| Cash vs. profit gap | 1,249 JPY mn (of net income 13.3%) |
| Shareholder returns / net income | 24.3% |
| Shareholder returns / FCF | 26.4% |
| Shareholder payments — dividends / net income | 24.3% |
| Shareholder payments — dividends / FCF | 26.4% |
| CapEx intensity (capex ÷ revenue) | 1.9% |
| Investing CF relative to operating CF | 15.3% |

## 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 | 5.1% | 1.10× | 5.6% | 1.78× | 9.9% | S100R6M7 |
| 2023 | 5.2% | 1.13× | 5.8% | 1.76× | 10.3% | S100TS28 |
| 2024 | 6.1% | 1.15× | 6.9% | 1.76× | 12.2% | S100W2KY |
| 2025 | 7.6% | 1.15× | 8.7% | 1.71× | 14.9% | S100YH50 |
| 2026 | 8.9% | 1.13× | 10.0% | 1.62× | 16.2% | S100YH50 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＡＬＳＯＫ株式会社 | Major shareholder | 17.5% | 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 | 10.6% | 2026-03-31 |
| 三和ホールディングス株式会社 | Major shareholder | 9.1% | 2026-03-31 |
| 東京海上日動火災保険株式会社 | Major shareholder | 6.9% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.9% | 2026-03-31 |
| ホーチキ従業員持株会 | Major shareholder | 2.9% | 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 | 2.4% | 2026-03-31 |
| 重田 康光 | Major shareholder | 2.4% | 2026-03-31 |
| GOVERNMENT OF NORWAY(常任代理人シティバンク、エヌ・エイ東京支店) | Major shareholder | 1.8% | 2026-03-31 |
| トーア再保険株式会社 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第130期(2025/04/01－2026/03/31) | S100YH50 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH50,, |
| 有価証券報告書－第129期(2024/04/01－2025/03/31) | S100W2KY | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2KY,, |
| 有価証券報告書－第128期(2023/04/01－2024/03/31) | S100TS28 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TS28,, |
| 有価証券報告書－第127期(2022/04/01－2023/03/31) | S100R6M7 | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6M7,, |
| 有価証券報告書－第126期(令和3年4月1日－令和4年3月31日) | S100OFY4 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OFY4,, |
| 有価証券報告書－第125期(令和2年4月1日－令和3年3月31日) | S100LPSC | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPSC,, |

## 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).