# JAPAN POWER FASTENING CO.,LTD: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第63期(2025/01/01－2025/12/31) (S100XS9S)
> Page: https://vizora.meequs.com/en/company/japan-power-fastening
> Retrieved: 2026-09-30T20:38:09.939Z

## Company

Japan Power Fastening, founded in 1951, is a company in Housing Equipment & Building Materials listed on TSE Standard. It has 142 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | JAPAN POWER FASTENING CO.,LTD. |
| Ticker | 5950 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5950.T) |
| Listing | TSE Standard |
| Head office | 大阪府箕面市船場西1丁目8番3号 |
| Representative (per filing) | 代表取締役社長 藤井 宏二 |
| Founded | Mar 1951 |
| Share capital | ¥100M |
| Employees (consolidated) | 142 |
| Average salary (parent only) | ¥4.7M |
| Fiscal year end | December |
| Corporate number | 5120001108081 |
| EDINET | E01421 |
| Industries (Vizora) | Housing Equipment & Building Materials |

> Profile source: annual securities report (S100XS9S, filed 2026-03-26). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 11.6 | 56 |
| Profitability | 16.4 | 58 |
| Cash conversion | 87 | 50 |
| Efficiency | 61.2 | 58 |
| Financial strength | 43.8 | 8 |

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)

- Japan Power Fastening brought in ¥5.06B in revenue.
- Operating profit was close to zero, a slight profit per ¥100 of sales.
- Revenue changed +0.5% from the prior year, and it swung back to an operating profit.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥5.06B |  |
| Operating income | ¥10.5M | Margin 0.2% |
| Net income | -¥30.2M | Margin -0.6% |
| Free cash flow | -¥78.8M |  |
| Employees (consolidated) | 142 |  |
| EPS | ¥-1.34 |  |
| Book value per share | ¥162.3 |  |
| Equity ratio | 40.9% |  |
| Shares outstanding | 18,688,540 |  |
| Treasury shares | 4,411,000 |  |
| Shareholders | 6,520 |  |
| Average salary (parent only) | ¥4.7M | Filing company only |
| Cash ratio | 24.6% | Net cash -¥494.6M · Cash ÷ revenue 27.3% |
| Vs. industry median margin | -4.2 pp | Housing Equipment & Building Materials |
| ROA | -0.5% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5309801000 | ¥5064474000 | -4.6% |
| Operating income | ¥-146772000 | ¥10456000 | — |
| Operating margin | -2.8% | 0.2% | +3 pp |
| Employees | 169 people | 142 people | -16.0% |
| Cash and equivalents | ¥452866000 | ¥1383548000 | +205.5% |

### Change in segment revenue mix

Span: FY ending Dec 2020 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 建築用ファスナー及びツール関連事業 → 事業再編・廃止 | 99.2% |
| 自動車・家電等部品関連事業 → 事業再編・廃止 | 0.7% |
| その他 → 事業再編・廃止 | 0.1% |

Segment revenue source references: 3 (derived)

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,064 | 100.0% | S100XS9S |
| Cost of revenue | 3,852 | 76.1% | S100XS9S |
| Gross profit | 1,212 | 23.9% | S100XS9S |
| SG&A | 1,202 | 23.7% | S100XS9S |
| Operating income | 10 | 0.2% | S100XS9S |
| Ordinary income | -6 | -0.1% | S100XS9S |
| Pretax income | -20 | -0.4% | S100XS9S |
| Income tax | 14 | 0.3% | S100XS9S |
| Net income | -34 | -0.7% | S100XS9S |
| Net income attributable to owners | -30 | -0.6% | S100XS9S |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 24 |
| Operating income | 0 |
| (Ref.) Net income | -1 |

### Margin funnel

Gross margin 23.9% → Operating margin 0.2% → Net margin -0.6%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Turned profitable
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,041 | 5,064 | 24 | +0.5% |
| Gross profit | 1,174 | 1,212 | 39 | +3.3% |
| Operating income | -94 | 10 | 104 | — |
| Net income attributable to owners | 509 | -30 | -540 | -105.9% |
| Operating cash flow | 233 | 25 | -209 | -89.4% |
| Free cash flow | 69 | -79 | -147 | -214.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 7,094 | -274 | -3.9% | -1,509 | -858 | -1,122 | S100L1FJ |
| FY ending Dec 2020 | 5,310 | -147 | -2.8% | -322 | 343 | 116 | S100NSSQ |
| FY ending Dec 2021 | 5,331 | 93 | 1.7% | 2,138 | 369 | 270 | S100QIAD |
| FY ending Dec 2022 | 5,354 | 85 | 1.6% | 40 | -159 | -201 | S100T5ZK |
| FY ending Dec 2023 | 5,108 | -125 | -2.5% | -108 | 258 | 241 | S100VIRL |
| FY ending Dec 2024 | 5,041 | -94 | -1.9% | 509 | 233 | 69 | S100XS9S |
| FY ending Dec 2025 | 5,064 | 10 | 0.2% | -30 | 25 | -79 | S100XS9S |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥35.7M |
| Operating income per employee (consolidated) | ¥73.6K |
| Net income per employee (consolidated) | -¥212.6K |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 164 | 160 | 149 | 148 | 142 |
| Average salary (parent company) | ¥4M | ¥4.2M | ¥4.1M | ¥4.5M | ¥4.7M |
| Average age (parent company) | 43.9 years | 44.4 years | 44.7 years | 45.2 years | 46.1 years |
| Average tenure (parent company) | 16.8 years | 17.1 years | 16.9 years | 16.6 years | 17.1 years |

Year over year: Employees (consolidated) -4.1% · Revenue (consolidated) +0.5%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 25 | 0.5% | S100XS9S |
| Capital expenditure | 103 | 2.0% | S100XS9S |
| Free cash flow | -79 | -1.6% | 算出 |
| Investing cash flow | -104 | -2.0% | S100XS9S |
| Financing cash flow | -154 | -3.0% | S100XS9S |
| Dividends paid | 71 | 1.4% | S100XS9S |
| Share buyback | 0 | 0.0% | S100XS9S |
| Change in cash | -237 | -4.7% | S100XS9S |
| Cash and equivalents | 1,384 | 27.3% | S100XS9S |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,225 | 1,460 | 2,121 | 1,620 | 1,384 | S100T5ZK, S100VIRL, S100XS9S |
| Total assets | 8,080 | 8,002 | 7,459 | 5,785 | 5,620 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Net assets | 3,259 | 3,460 | 3,368 | 2,304 | 2,317 | S100T5ZK, S100VIRL, S100XS9S |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Trade receivables | 1,224 | — | — | — | — | S100QIAD |
| Property, plant and equipment | 1,922 | 1,814 | 1,787 | 955 | 921 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Intangible assets excluding goodwill | 125 | 120 | 96 | 76 | 62 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Investment securities | 94 | 118 | 222 | 177 | 324 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Current assets | 5,838 | 5,808 | 5,248 | 4,478 | 4,221 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Current liabilities | 3,431 | 3,196 | 3,441 | 2,939 | 2,863 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Trade payables | 592 | 532 | 347 | 427 | 408 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Short-term borrowings | 1,245 | 1,320 | 1,430 | 1,430 | 1,502 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Long-term borrowings | 717 | 620 | 528 | 430 | 332 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Bonds | — | 86 | 72 | 58 | 44 | S100T5ZK, S100VIRL, S100XS9S |
| Interest-bearing debt | — | 2,026 | 2,030 | 1,918 | 1,878 | 算出 |
| Total liabilities | 4,821 | 4,542 | 4,092 | 3,482 | 3,303 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Non-controlling interests | — | — | — | 20 | 16 | S100XS9S |
| Equity attributable to owners of parent | 3,132 | 3,047 | 2,899 | 2,215 | 2,113 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Retained earnings | 451 | 366 | 218 | 649 | 548 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |
| Treasury stock | -449 | -449 | -449 | -1,246 | -1,246 | S100QIAD, S100T5ZK, S100VIRL, S100XS9S |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 25% | S100XS9S |
| Property, plant and equipment | 16% | S100XS9S |
| Intangibles and goodwill | 1% | S100XS9S |
| Investment securities | 6% | S100XS9S |
| Other assets | 52% | S100XS9S |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100XS9S |
| Interest-bearing debt | 34% | 算出 |
| Other liabilities | 18% | S100XS9S |
| Equity | 41% | S100XS9S |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 8,080 | 8,002 | 7,459 | 5,785 | 5,620 |
| Equity | 3,259 | 3,460 | 3,368 | 2,304 | 2,317 |
| Interest-bearing debt | — | 2,026 | 2,030 | 1,918 | 1,878 |
| Cash | 2,225 | 1,460 | 2,121 | 1,620 | 1,384 |

## 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) | 18.2% | S100XS9S |
| Fixed assets ÷ total assets | 16.4% | S100XS9S |
| Goodwill ÷ parent equity | — | —, S100XS9S |

### 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) | 24.6% |
| Cash ÷ revenue | 27.3% |
| Net cash (cash − interest-bearing debt) | -¥494.6M |
| Net debt ÷ operating cash flow | 20.06× |
| Cash conversion (operating CF ÷ operating income) | 235.9% |
| Cash vs. profit gap | 55 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.0% |
| Investing CF relative to operating CF | 420.7% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 40.1% | 0.66× | 26.5% | 2.58× | 68.3% | S100QIAD |
| 2022 | 0.8% | 0.67× | 0.5% | 2.60× | 1.3% | S100T5ZK |
| 2023 | — | —× | -1.4% | —× | — | S100VIRL |
| 2024 | 10.1% | 0.76× | 7.7% | 2.59× | 19.9% | S100XS9S |
| 2025 | — | —× | -0.5% | —× | — | S100XS9S |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| マルエヌ株式会社 | Major shareholder | 27.2% | 2025-12-31 |
| 土肥雄治 | Major shareholder | 10.5% | 2025-12-31 |
| 土肥智雄 | Major shareholder | 4.9% | 2025-12-31 |
| 株式会社みずほ銀行 | Major shareholder | 4.7% | 2025-12-31 |
| 株式会社池田泉州銀行 | Major shareholder | 4.6% | 2025-12-31 |
| 株式会社エマナック | Major shareholder | 1.3% | 2025-12-31 |
| 飯島功市郎 | Major shareholder | 0.7% | 2025-12-31 |
| 川越久男 | Major shareholder | 0.6% | 2025-12-31 |
| 小川雅昭 | Major shareholder | 0.6% | 2025-12-31 |
| 立石祐二 | Major shareholder | 0.5% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/01/01－2025/12/31) | S100XS9S | 2026-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XS9S,, |
| 有価証券報告書－第62期(2024/01/01－2024/12/31) | S100VIRL | 2025-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VIRL,, |
| 有価証券報告書－第61期(2023/01/01－2023/12/31) | S100T5ZK | 2024-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T5ZK,, |
| 有価証券報告書－第60期(2022/01/01－2022/12/31) | S100QIAD | 2023-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QIAD,, |
| 有価証券報告書－第59期(令和3年1月1日－令和3年12月31日) | S100NSSQ | 2022-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NSSQ,, |
| 有価証券報告書－第58期(令和2年1月1日－令和2年12月31日) | S100L1FJ | 2021-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L1FJ,, |

## 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).