# IDEC 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79期(2025/04/01－2026/03/31) (S100YEDS)
> Page: https://vizora.meequs.com/en/company/idec
> Retrieved: 2026-09-30T21:06:48.201Z

## Company

Idec, founded in 1947, is a company in Robots & Factory Automation listed on TSE Prime. It has 3,006 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | IDEC CORPORATION |
| Ticker | 6652 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6652.T) |
| Listing | TSE Prime |
| Head office | 大阪府大阪市淀川区西宮原2丁目6番64号 |
| Representative (per filing) | 代表取締役会長兼社長 舩木 俊之 |
| Founded | Mar 1947 |
| Share capital | ¥10.1B |
| Employees (consolidated) | 3,006 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | March |
| Website | idec.com (https://idec.com/) |
| Corporate number | 6120001053789 |
| EDINET | E01951 |
| Industries (Vizora) | Robots & Factory Automation |

> Profile source: annual securities report (S100YEDS, filed 2026-06-18). As of filing

## Five-axis industry profile

Primary industry: Robots & Factory Automation (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 40.9 | 33 |
| Profitability | 25 | 34 |
| Cash conversion | 73.4 | 32 |
| Efficiency | 41.4 | 35 |

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 37% of Idec's sales come from Japan, with EMEA and America making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed +8.3% from the prior year, operating profit +67.5%.

## Company structure

- Segment revenue mix: Japan 37.0%、EMEA 21.9%、America 21.6%、Asia and Pacific 19.6%
- Revenue → net income: ¥72967000000 → ¥3873000000
- Net income → operating cash flow: ¥3873000000 → ¥7442000000（difference ¥3569000000）
- Main uses of operating cash flow: CapEx ¥5377000000 / dividends ¥3836000000 / buybacks ¥0
- Change in cash: ¥-1052000000
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 | ¥73B |  |
| Operating income | ¥6.12B | Margin 8.4% |
| Net income | ¥3.87B | Margin 5.3% |
| Free cash flow | ¥2.06B |  |
| Largest business | Japan | of segment revenue 37.0% |
| Employees (consolidated) | 3,006 |  |
| EPS | ¥84.62 |  |
| Diluted EPS | ¥84.6 |  |
| Book value per share | ¥1233.21 |  |
| Equity ratio | 61.0% |  |
| Shares outstanding | 31,374,485 |  |
| Treasury shares | 1,826,500 |  |
| Shareholders | 12,895 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |
| Cash ratio | 16.0% | Cash ÷ revenue 24.9% |
| Vs. industry median margin | -3.4 pp | Robots & Factory Automation |
| ROE | 7.5% | Derived from disclosed figures |
| ROA | 3.5% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by 29 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥53983000000 | ¥72967000000 | +35.2% |
| Operating income | ¥4041000000 | ¥6118000000 | +51.4% |
| Operating margin | 7.5% | 8.4% | +0.9 pp |
| Employees | 3,780 people | 3,006 people | -20.5% |
| Cash and equivalents | ¥15009000000 | ¥18142000000 | +20.9% |

### 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 → 日本 | 37.0% |
| 日本 → 事業再編・廃止 | 13.4% |
| 米州 → 米州 | 16.1% |
| EMEA → EMEA | 16.4% |
| アジア・パシフィック → アジア・パシフィック | 17.2% |
| 新設・再編 → 米州 | 5.5% |
| 新設・再編 → EMEA | 5.5% |
| 新設・再編 → アジア・パシフィック | 2.4% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | -0.2% | ¥26986000000 | 7.2% | 2 |
| EMEA | 5 years | +12.6% | ¥15952000000 | -1.5% | 2 |
| America | 5 years | +12.6% | ¥15738000000 | 6.1% | 2 |
| Asia and Pacific | 5 years | +9.1% | ¥14289000000 | 19.2% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 72,967 | 100.0% | S100YEDS |
| Cost of revenue | 40,618 | 55.7% | S100YEDS |
| Gross profit | 32,349 | 44.3% | S100YEDS |
| SG&A | 26,230 | 35.9% | S100YEDS |
| Operating income | 6,118 | 8.4% | S100YEDS |
| Ordinary income | 6,569 | 9.0% | S100YEDS |
| Pretax income | 6,422 | 8.8% | S100YEDS |
| Income tax | 2,548 | 3.5% | S100YEDS |
| Net income | 3,873 | 5.3% | S100YEDS |
| Net income attributable to owners | 3,873 | 5.3% | S100YEDS |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 56 |
| SG&A | 36 |
| Operating income | 8 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 44.3% → Operating margin 8.4% → Net margin 5.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.3%; Core profit growth: +67.5%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 8.14×
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 | 67,380 | 72,967 | 5,587 | +8.3% |
| Gross profit | 29,437 | 32,349 | 2,912 | +9.9% |
| Operating income | 3,652 | 6,118 | 2,466 | +67.5% |
| Net income attributable to owners | 1,778 | 3,873 | 2,095 | +117.8% |
| Operating cash flow | 11,248 | 7,442 | -3,806 | -33.8% |
| Free cash flow | 816 | 2,065 | 1,249 | +153.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 58,355 | 4,704 | 8.1% | 3,006 | 6,928 | 4,268 | S100LL33 |
| FY ending Mar 2021 | 53,983 | 4,041 | 7.5% | 2,803 | 7,443 | 4,048 | S100O9ZP |
| FY ending Mar 2022 | 70,789 | 9,672 | 13.7% | 7,896 | 9,652 | 7,647 | S100QZ8M |
| FY ending Mar 2023 | 83,869 | 14,060 | 16.8% | 10,144 | 7,009 | 4,085 | S100TML5 |
| FY ending Mar 2024 | 72,711 | 6,276 | 8.6% | 4,407 | 5,504 | 2,935 | S100VZNE |
| FY ending Mar 2025 | 67,380 | 3,652 | 5.4% | 1,778 | 11,248 | 816 | S100YEDS |
| FY ending Mar 2026 | 72,967 | 6,118 | 8.4% | 3,873 | 7,442 | 2,065 | S100YEDS |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥24.3M |
| Operating income per employee (consolidated) | ¥2M |
| Net income per employee (consolidated) | ¥1.3M |

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

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 3,328 | 3,186 | 3,087 | 2,937 | 3,006 |
| Average salary (parent company) | ¥6.8M | ¥7.3M | ¥7.2M | ¥6.5M | ¥6.8M |
| Average age (parent company) | 43.8 years | 44.1 years | 44.0 years | 44.0 years | 42.9 years |
| Average tenure (parent company) | 17.2 years | 17.1 years | 16.1 years | 15.7 years | 14.2 years |

Year over year: Employees (consolidated) +2.3% · Revenue (consolidated) +8.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 26,986 | 37.0% | 1,940 | 7.2% |
| America | 15,738 | 21.6% | 954 | 6.1% |
| EMEA | 15,952 | 21.9% | -247 | -1.5% |
| Asia and Pacific | 14,289 | 19.6% | 2,750 | 19.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 37.0% | 34.4% | -2.6 | 7.2% |
| America | 21.6% | 16.9% | -4.7 | 6.1% |
| EMEA | 21.9% | — | — | -1.5% |
| Asia and Pacific | 19.6% | 48.7% | 29.1 | 19.2% |

Loss-making segment (excluded from profit shares): EMEA -247 JPY mn

Segment → industry: Asia and Pacific → Robots & Factory Automation / EMEA → Robots & Factory Automation / America → Robots & Factory Automation / Japan → Robots & Factory Automation

## 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 | 7,442 | 10.2% | S100YEDS |
| Capital expenditure | 5,377 | 7.4% | S100YEDS |
| Free cash flow | 2,065 | 2.8% | 算出 |
| Investing cash flow | -5,296 | -7.3% | S100YEDS |
| Financing cash flow | -3,690 | -5.1% | S100YEDS |
| Dividends paid | 3,836 | 5.3% | S100YEDS |
| Share buyback | 0 | 0.0% | S100YEDS |
| Change in cash | -1,052 | -1.4% | S100YEDS |
| Cash and equivalents | 18,142 | 24.9% | S100YEDS |

## 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 | 15,203 | 15,070 | 15,040 | 19,194 | 18,142 | S100TML5, S100VZNE, S100YEDS |
| Total assets | 94,960 | 104,235 | 107,138 | 107,216 | 113,572 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Net assets | 49,008 | 58,813 | 66,006 | 63,810 | 69,920 | S100TML5, S100VZNE, S100YEDS |
| Share capital | 10,056 | 10,056 | 10,056 | 10,056 | 10,056 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Trade receivables | 11,402 | 12,987 | — | — | — | S100QZ8M |
| Property, plant and equipment | 22,227 | 23,766 | 24,000 | 28,451 | 32,072 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Intangible assets excluding goodwill | 22,691 | 22,885 | 25,511 | 24,648 | 25,743 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Goodwill | 11,593 | 11,636 | 12,284 | 11,212 | 11,580 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Investment securities | 419 | 601 | 489 | 605 | 727 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Current assets | 47,171 | 54,518 | 54,921 | 51,480 | 53,312 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Current liabilities | 21,660 | 32,059 | 23,830 | 27,662 | 27,065 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Trade payables | 5,186 | 4,916 | 3,792 | 3,784 | 3,946 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Short-term borrowings | 3,800 | 5,000 | 7,000 | 10,985 | 8,300 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Long-term borrowings | 18,260 | 6,525 | 10,183 | 9,857 | 11,027 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Total liabilities | 45,951 | 45,422 | 41,132 | 43,406 | 43,652 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Non-controlling interests | 37 | — | — | — | — | S100QZ8M |
| Equity attributable to owners of parent | 45,551 | 52,687 | 53,735 | 51,832 | 52,049 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Retained earnings | 34,022 | 40,532 | 41,077 | 39,026 | 39,063 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |
| Treasury stock | -7,759 | -7,299 | -6,970 | -6,870 | -3,356 | S100QZ8M, S100TML5, S100VZNE, S100YEDS |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100YEDS |
| Property, plant and equipment | 28% | S100YEDS |
| Intangibles and goodwill | 33% | S100YEDS |
| Investment securities | 1% | S100YEDS |
| Other assets | 22% | S100YEDS |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YEDS |
| Other liabilities | 35% | S100YEDS |
| Equity | 62% | S100YEDS |

### 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 | 94,960 | 104,235 | 107,138 | 107,216 | 113,572 |
| Equity | 49,008 | 58,813 | 66,006 | 63,810 | 69,920 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 15,203 | 15,070 | 15,040 | 19,194 | 18,142 |

## 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) | 44.0% | S100YEDS |
| Fixed assets ÷ total assets | 28.2% | S100YEDS |
| Goodwill ÷ parent equity | 22.2% | S100YEDS |

Goodwill over 4 years: 11,593 → 11,580 JPY; total investing cash flow: -15,811 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) | 16.0% |
| Cash ÷ revenue | 24.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 121.6% |
| Cash vs. profit gap | 3,569 JPY mn (of net income 92.2%) |
| Shareholder returns / net income | 99.0% |
| Shareholder returns / FCF | 185.8% |
| Shareholder payments — dividends / net income | 99.0% |
| Shareholder payments — dividends / FCF | 185.8% |
| CapEx intensity (capex ÷ revenue) | 7.4% |
| Investing CF relative to operating CF | 71.2% |

## 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 | 11.2% | 0.75× | 8.3% | 2.08× | 17.3% | S100QZ8M |
| 2023 | 12.1% | 0.84× | 10.2% | 2.03× | 20.7% | S100TML5 |
| 2024 | 6.1% | 0.69× | 4.2% | 1.99× | 8.3% | S100VZNE |
| 2025 | 2.6% | 0.63× | 1.7% | 2.03× | 3.4% | S100YEDS |
| 2026 | 5.3% | 0.66× | 3.5% | 2.13× | 7.5% | S100YEDS |

## 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 | 18.2% | 2026-03-31 |
| 株式会社日本カストディ銀行 (信託口) | Major shareholder | 12.1% | 2026-03-31 |
| 株式会社日本カストディ銀行 (信託口4) | Major shareholder | 3.1% | 2026-03-31 |
| なまりや合同会社 | Major shareholder | 2.9% | 2026-03-31 |
| 合同会社TKF | Major shareholder | 2.5% | 2026-03-31 |
| THE BANK OF NEW YORK MELLON 140044 (常任代理人 株式会社みずほ銀行) | Major shareholder | 1.5% | 2026-03-31 |
| 藤田 和孝 | Major shareholder | 1.4% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行) | Major shareholder | 1.3% | 2026-03-31 |
| 藤田 俊弘 | Major shareholder | 1.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行) | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第79期(2025/04/01－2026/03/31) | S100YEDS | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEDS,, |
| 有価証券報告書－第78期(2024/04/01－2025/03/31) | S100VZNE | 2025-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZNE,, |
| 有価証券報告書－第77期(2023/04/01－2024/03/31) | S100TML5 | 2024-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TML5,, |
| 有価証券報告書－第76期(2022/04/01－2023/03/31) | S100QZ8M | 2023-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZ8M,, |
| 有価証券報告書－第75期(令和3年4月1日－令和4年3月31日) | S100O9ZP | 2022-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O9ZP,, |
| 有価証券報告書－第74期(令和2年4月1日－令和3年3月31日) | S100LL33 | 2021-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LL33,, |

## 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).