# JUKI CORPORATION: 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111期(2025/01/01－2025/12/31) (S100XSJU)
> Page: https://vizora.meequs.com/en/company/juki
> Retrieved: 2026-09-30T22:08:09.948Z

## Company

Juki, founded in 2013, is a company in Industrial Machinery listed on TSE Prime. It has 3,828 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | JUKI CORPORATION |
| Ticker | 6440 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6440.T) |
| Listing | TSE Prime |
| Head office | 東京都多摩市鶴牧二丁目11番地1 |
| Representative (per filing) | 代表取締役社長 成川敦 |
| Founded | Aug 2013 |
| Share capital | ¥18B |
| Employees (consolidated) | 3,828 |
| Average salary (parent only) | ¥5.6M |
| Fiscal year end | December |
| Website | www.juki.co.jp (https://www.juki.co.jp/) |
| Corporate number | 8013401006169 |
| EDINET | E01596 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100XSJU, filed 2026-03-23). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 31.4 | 110 |
| Profitability | 16.8 | 122 |
| Cash conversion | 92.7 | 116 |
| Efficiency | 35.7 | 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 75% of Juki's sales come from Sewing Machinery Business, with Industrial Equipment Business and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -6.7% from the prior year, and it swung back to an operating profit.

## Company structure

- Segment revenue mix: Sewing Machinery Business 75.1%、Industrial Equipment Business 24.6%、Other 0.3%
- Revenue → net income: ¥88761000000 → ¥1431000000
- Net income → operating cash flow: ¥1431000000 → ¥11712000000（difference ¥10281000000）
- Main uses of operating cash flow: CapEx ¥2028000000 / dividends — / buybacks ¥0
- Change in cash: ¥-24000000
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 | ¥88.8B |  |
| Operating income | ¥2.66B | Margin 3.0% |
| Net income | ¥1.4B | Margin 1.6% |
| Free cash flow | ¥9.68B |  |
| Largest business | Sewing Machinery Business | of segment revenue 75.1% |
| Employees (consolidated) | 3,828 |  |
| EPS | ¥139.06 |  |
| Book value per share | ¥819.58 |  |
| Equity ratio | 26.8% |  |
| Shares outstanding | 29,874,179 |  |
| Treasury shares | 47,800 |  |
| Shareholders | 12,952 |  |
| Average salary (parent only) | ¥5.6M | Filing company only |
| Cash ratio | 10.9% | Cash ÷ revenue 14.8% |
| Vs. industry median margin | -4.6 pp | Industrial Machinery |
| ROE | 5.7% | Derived from disclosed figures |
| ROA | 1.1% | Derived from disclosed figures |

## Notable figures

- FY2025, operating cash flow is 8.4× net income

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥70401000000 | ¥88761000000 | +26.1% |
| Operating income | ¥-4469000000 | ¥2662000000 | — |
| Operating margin | -6.3% | 3.0% | +9.3 pp |
| Employees | 5,287 people | 3,828 people | -27.6% |
| Cash and equivalents | ¥13820000000 | ¥13122000000 | -5.1% |

### 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 |
| --- | ---: |
| 縫製機器＆システム事業 → 事業再編・廃止 | 60.7% |
| 産業機器＆システム事業 → 事業再編・廃止 | 39.0% |
| その他 → その他 | 0.3% |
| 新設・再編 → 縫製事業 | 75.1% |
| 新設・再編 → 産機事業 | 24.6% |
| 新設・再編 → その他 | 0.0% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Sewing Machinery Business | — | — | ¥66616000000 | 4.9% | 2 |
| Industrial Equipment Business | — | — | ¥21847000000 | -2.4% | 2 |
| Other | 5 years | +6.1% | ¥297000000 | -14.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 88,761 | 100.0% | S100XSJU |
| Cost of revenue | 62,587 | 70.5% | S100XSJU |
| Gross profit | 26,174 | 29.5% | S100XSJU |
| SG&A | 23,511 | 26.5% | S100XSJU |
| Operating income | 2,662 | 3.0% | S100XSJU |
| Ordinary income | 1,412 | 1.6% | S100XSJU |
| Pretax income | 2,130 | 2.4% | S100XSJU |
| Income tax | 698 | 0.8% | S100XSJU |
| Net income | 1,431 | 1.6% | S100XSJU |
| Net income attributable to owners | 1,399 | 1.6% | S100XSJU |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 71 |
| SG&A | 26 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 29.5% → Operating margin 3.0% → Net margin 1.6%
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 | 95,185 | 88,761 | -6,424 | -6.7% |
| Gross profit | 25,723 | 26,174 | 451 | +1.8% |
| Operating income | -962 | 2,662 | 3,624 | — |
| Net income attributable to owners | -3,235 | 1,399 | 4,634 | — |
| Operating cash flow | 9,371 | 11,712 | 2,341 | +25.0% |
| Free cash flow | 6,630 | 9,684 | 3,054 | +46.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 99,169 | 3,838 | 3.9% | 1,763 | 3,054 | 792 | S100KYY6 |
| FY ending Dec 2020 | 70,401 | -4,469 | -6.3% | -4,688 | 8,509 | 5,923 | S100NQ6L |
| FY ending Dec 2021 | 101,292 | 3,868 | 3.8% | 2,154 | -6,589 | -7,617 | S100Q8LL |
| FY ending Dec 2022 | 117,454 | 2,858 | 2.4% | -78 | -14,641 | -16,862 | S100T4CI |
| FY ending Dec 2023 | 94,750 | -2,699 | -2.8% | -7,035 | 2,254 | -325 | S100WBBL |
| FY ending Dec 2024 | 95,185 | -962 | -1.0% | -3,235 | 9,371 | 6,630 | S100XSJU |
| FY ending Dec 2025 | 88,761 | 2,662 | 3.0% | 1,399 | 11,712 | 9,684 | S100XSJU |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥23.2M |
| Operating income per employee (consolidated) | ¥695.4K |
| Net income per employee (consolidated) | ¥365.5K |

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) | 5,255 | 5,230 | 4,713 | 4,621 | 3,828 |
| Average salary (parent company) | ¥5.3M | ¥5.8M | ¥5.3M | ¥5.4M | ¥5.6M |
| Average age (parent company) | 45.3 years | 44.5 years | 44.5 years | 45.8 years | 47.2 years |
| Average tenure (parent company) | 19.0 years | 17.7 years | 17.7 years | 18.5 years | 18.4 years |

Year over year: Employees (consolidated) -17.2% · Revenue (consolidated) -6.7%

## Segments（FY ending Dec 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Sewing Machinery Business | 66,616 | 75.1% | 3,231 | 4.9% |
| Industrial Equipment Business | 21,847 | 24.6% | -534 | -2.4% |
| Other | 297 | 0.3% | -42 | -14.1% |

### 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 |
| --- | ---: |
| Sewing Machinery Business | 75.1% |
| Industrial Equipment Business | 24.6% |
| Other | 0.3% |

Segment → industry: Industrial Equipment Business → Industrial Machinery / Sewing Machinery Business → Industrial Machinery

## 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 | 11,712 | 13.2% | S100XSJU |
| Capital expenditure | 2,028 | 2.3% | S100XSJU |
| Free cash flow | 9,684 | 10.9% | 算出 |
| Investing cash flow | 4,364 | 4.9% | S100XSJU |
| Financing cash flow | -16,145 | -18.2% | S100XSJU |
| Share buyback | 0 | 0.0% | S100XSJU |
| Change in cash | -24 | -0.0% | S100XSJU |
| Cash and equivalents | 13,122 | 14.8% | S100XSJU |

## 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 | 6,566 | 4,910 | 7,168 | 13,146 | 13,122 | S100T4CI, S100WBBL, S100XSJU |
| Total assets | 129,114 | 145,169 | 139,304 | 142,219 | 120,594 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Net assets | 35,672 | 37,482 | 32,370 | 32,234 | 32,687 | S100T4CI, S100WBBL, S100XSJU |
| Share capital | 18,044 | 18,044 | 18,044 | 18,044 | 18,044 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Trade receivables | 34,099 | — | — | — | — | S100Q8LL |
| Property, plant and equipment | 22,770 | 23,525 | 22,505 | 22,596 | 20,840 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Intangible assets excluding goodwill | 1,889 | 2,316 | 3,107 | 4,023 | 3,719 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Investment securities | 3,831 | 5,867 | 6,340 | 5,853 | 2,125 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Current assets | 94,806 | 107,677 | 102,779 | 105,384 | 89,647 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Current liabilities | 67,120 | 81,791 | 80,854 | 86,352 | 67,248 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Trade payables | 13,917 | 9,145 | 6,075 | 9,401 | 6,209 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Short-term borrowings | 38,287 | 58,807 | 63,321 | 64,611 | 51,696 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Long-term borrowings | 19,386 | 18,851 | 19,123 | 15,858 | 13,870 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Total liabilities | 93,442 | 107,687 | 106,933 | 109,985 | 87,906 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Non-controlling interests | 426 | 743 | 773 | 1,020 | 362 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Equity attributable to owners of parent | 36,070 | 35,306 | 27,791 | 24,248 | 25,271 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Retained earnings | 16,642 | 15,816 | 8,193 | 4,549 | 5,463 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |
| Treasury stock | -607 | -527 | -341 | -143 | -39 | S100Q8LL, S100T4CI, S100WBBL, S100XSJU |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 11% | S100XSJU |
| Property, plant and equipment | 17% | S100XSJU |
| Intangibles and goodwill | 3% | S100XSJU |
| Investment securities | 2% | S100XSJU |
| Other assets | 67% | S100XSJU |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100XSJU |
| Other liabilities | 68% | S100XSJU |
| Equity | 27% | S100XSJU |
| Other liabilities | 0% | S100XSJU |

### 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 | 129,114 | 145,169 | 139,304 | 142,219 | 120,594 |
| Equity | 35,672 | 37,482 | 32,370 | 32,234 | 32,687 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 6,566 | 4,910 | 7,168 | 13,146 | 13,122 |

## 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) | 23.5% | S100XSJU |
| Fixed assets ÷ total assets | 17.3% | S100XSJU |
| Goodwill ÷ parent equity | — | —, S100XSJU |

### 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) | 10.9% |
| Cash ÷ revenue | 14.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 440.0% |
| Cash vs. profit gap | 10,313 JPY mn (of net income 737.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.3% |
| Investing CF relative to operating CF | 37.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 2.1% | 0.78× | 1.7% | 3.58× | 6.0% | S100Q8LL |
| 2022 | — | —× | -0.1% | —× | — | S100T4CI |
| 2023 | — | —× | -4.9% | —× | — | S100WBBL |
| 2024 | — | —× | -2.3% | —× | — | S100XSJU |
| 2025 | 1.6% | 0.68× | 1.1% | 5.31× | 5.7% | S100XSJU |

## 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 | 12.9% | 2025-12-31 |
| 株式会社ＰＥＧＡＳＵＳ | Major shareholder | 3.5% | 2025-12-31 |
| 株式会社みずほ銀行 | Major shareholder | 3.1% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.0% | 2025-12-31 |
| 日本生命保険相互会社 | Major shareholder | 2.5% | 2025-12-31 |
| 朝日生命保険相互会社 | Major shareholder | 1.9% | 2025-12-31 |
| 第一生命保険株式会社 | Major shareholder | 1.7% | 2025-12-31 |
| 明治安田生命保険相互会社 | Major shareholder | 1.5% | 2025-12-31 |
| みずほ信託銀行株式会社 | Major shareholder | 1.3% | 2025-12-31 |
| ＪＵＫＩ取引先持株会 | Major shareholder | 1.3% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第111期(2025/01/01－2025/12/31) | S100XSJU | 2026-03-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XSJU,, |
| 訂正有価証券報告書－第110期(2024/01/01－2024/12/31) | S100WBBL | 2025-07-04 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WBBL,, |
| 有価証券報告書－第109期(2023/01/01－2023/12/31) | S100T4CI | 2024-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T4CI,, |
| 有価証券報告書－第108期(2022/01/01－2022/12/31) | S100Q8LL | 2023-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Q8LL,, |
| 有価証券報告書－第107期(令和3年1月1日－令和3年12月31日) | S100NQ6L | 2022-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NQ6L,, |
| 有価証券報告書－第106期(令和2年1月1日－令和2年12月31日) | S100KYY6 | 2021-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KYY6,, |

## 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).