# KeePer Technical Laboratory Co., Ltd.: business model and financials

> Latest period: FY ending Jun 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第34期(2025/07/01－2026/06/30) (S100Z483)
> Page: https://vizora.meequs.com/en/company/keeper-technical-laboratory
> Retrieved: 2026-09-30T21:33:01.988Z

## Company

KeePer Technical Laboratory, founded in 1985, is a company in Car Accessories listed on TSE Prime. It has 1,232 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KeePer Technical Laboratory Co.,Ltd. |
| Ticker | 6036 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6036.T) |
| Listing | TSE Prime |
| Head office | 愛知県大府市吉川町四丁目17番地 |
| Representative (per filing) | 代表取締役会長兼CEO 谷 好通 |
| Founded | Aug 1985 |
| Share capital | ¥1.35B |
| Employees (consolidated) | 1,232 |
| Average salary (parent only) | ¥5.5M |
| Fiscal year end | June |
| Website | keepergiken.co.jp (https://keepergiken.co.jp/) |
| Corporate number | 3180001094120 |
| EDINET | E31216 |
| Industries (Vizora) | Car Accessories |

> Profile source: annual securities report (S100Z483, filed 2026-09-25). As of filing

## Five-axis industry profile

Primary industry: Car Accessories (2026-06-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 96.7 | 15 |
| Profitability | 96.7 | 15 |
| Cash conversion | 10 | 15 |
| Efficiency | 36.7 | 15 |

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 54% of KeePer Technical Laboratory's sales come from KeePer LABO operation, with KeePer products and others related making up much of the rest.
- Out of every ¥100 of sales, about ¥27 is left as operating profit.
- Revenue changed +12.4% from the prior year, operating profit -2.6%.

## Company structure

- Segment revenue mix: KeePer LABO operation 54.0%、KeePer products and others related 46.0%
- Revenue → net income: ¥25959981000 → ¥9830286000
- Net income → operating cash flow: ¥9830286000 → ¥4392531000（difference ¥-5437755000）
- Main uses of operating cash flow: CapEx ¥1709033000 / dividends ¥2729117000 / buybacks ¥376000
- Change in cash: ¥10104494000
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 | ¥26B |  |
| Operating income | ¥6.91B | Margin 26.6% |
| Net income | ¥9.83B | Margin 37.9% |
| Free cash flow | ¥2.68B |  |
| Largest business | KeePer LABO operation | of segment revenue 54.0% |
| Employees (consolidated) | 1,232 |  |
| EPS | ¥360.2 |  |
| Book value per share | ¥919.37 |  |
| Equity ratio | 74.8% |  |
| Shares outstanding | 28,280,840 |  |
| Treasury shares | 989,700 |  |
| Shareholders | 16,025 |  |
| Average salary (parent only) | ¥5.5M | Filing company only |
| Cash ratio | 42.6% | Cash ÷ revenue 55.0% |
| Vs. industry median margin | +20.9 pp | Car Accessories |
| ROE | 45.6% | Derived from disclosed figures |
| ROA | 33.7% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 69% of positive segment profit
- FY2026, cash is 43% of total assets
- FY2026, operating income keeps 27 per ¥100 of revenue

## What changed in 5 years

| Metric | FY ending Jun 2021 | FY ending Jun 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥11801236000 | ¥25959981000 | +120.0% |
| Operating income | ¥3021400000 | ¥6914597000 | +128.9% |
| Operating margin | 25.6% | 26.6% | +1 pp |
| Employees | 644 people | 1,232 people | +91.3% |
| Cash and equivalents | ¥1517132000 | ¥14277237000 | +841.1% |

### Change in segment revenue mix

Span: FY ending Jun 2021 → FY ending Jun 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| キーパー製品等関連事業 → キーパー製品等関連事業 | 46.0% |
| キーパー製品等関連事業 → 事業再編・廃止 | 3.4% |
| キーパーLABO運営事業 → キーパーLABO運営事業 | 50.7% |
| 新設・再編 → キーパーLABO運営事業 | 3.4% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 25,960 | 100.0% | S100Z483 |
| Cost of revenue | 13,387 | 51.6% | S100Z483 |
| Gross profit | 12,573 | 48.4% | S100Z483 |
| SG&A | 5,659 | 21.8% | S100Z483 |
| Operating income | 6,915 | 26.6% | S100Z483 |
| Ordinary income | 6,931 | 26.7% | S100Z483 |
| Pretax income | 13,711 | 52.8% | S100Z483 |
| Income tax | 3,881 | 14.9% | S100Z483 |
| Net income | 9,830 | 37.9% | S100Z483 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 51 |
| SG&A | 22 |
| Operating income | 27 |
| (Ref.) Net income | 38 |

### Margin funnel

Gross margin 48.4% → Operating margin 26.6% → Net margin 37.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +12.4%; Core profit growth: -2.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.21×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jun 2025 → FY ending Jun 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 23,093 | 25,960 | 2,867 | +12.4% |
| Gross profit | 12,080 | 12,573 | 493 | +4.1% |
| Operating income | 7,099 | 6,915 | -184 | -2.6% |
| Operating cash flow | 5,855 | 4,393 | -1,463 | -25.0% |
| Free cash flow | 3,826 | 2,683 | -1,142 | -29.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jun 2020 | 8,700 | 1,367 | 15.7% | 913 | 1,072 | -325 | S100MIIC |
| FY ending Jun 2021 | 11,801 | 3,021 | 25.6% | 2,133 | 3,094 | 2,429 | S100P95R |
| FY ending Jun 2022 | 14,358 | 4,327 | 30.1% | 3,094 | 3,221 | 1,845 | S100RXO1 |
| FY ending Jun 2023 | 17,043 | 5,475 | 32.1% | 3,957 | 3,664 | 2,499 | S100UG2L |
| FY ending Jun 2024 | 20,575 | 6,101 | 29.7% | 4,421 | 5,280 | 3,164 | S100WR7B |
| FY ending Jun 2025 | 23,093 | 7,099 | 30.7% | 4,889 | 5,855 | 3,826 | S100Z483 |
| FY ending Jun 2026 | 25,960 | 6,915 | 26.6% | 9,830 | 4,393 | 2,683 | S100Z483 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥21.1M |
| Operating income per employee (consolidated) | ¥5.6M |
| Net income per employee (consolidated) | ¥8M |

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

| History | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 727 | 959 | 1,041 | 1,110 | 1,232 |
| Average salary (parent company) | ¥4.4M | ¥4.1M | ¥4.6M | ¥5.1M | ¥5.5M |
| Average age (parent company) | 26.8 years | 26.7 years | 27.0 years | 27.5 years | 27.5 years |
| Average tenure (parent company) | 4.5 years | 3.5 years | 4.0 years | 3.7 years | 3.7 years |

Year over year: Employees (consolidated) +11.0% · Revenue (consolidated) +12.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| KeePer products and others related | 11,932 | 46.0% | 4,744 | 39.8% |
| KeePer LABO operation | 14,028 | 54.0% | 2,170 | 15.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| KeePer products and others related | 46.0% | 68.6% | 22.6 | 39.8% |
| KeePer LABO operation | 54.0% | 31.4% | -22.6 | 15.5% |

Segment → industry: KeePer LABO operation → Car Accessories / KeePer products and others related → Car Accessories

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Jun 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 4,393 | 16.9% | S100Z483 |
| Capital expenditure | 1,709 | 6.6% | S100Z483 |
| Free cash flow | 2,683 | 10.3% | 算出 |
| Investing cash flow | 8,946 | 34.5% | S100Z483 |
| Financing cash flow | -3,236 | -12.5% | S100Z483 |
| Dividends paid | 2,729 | 10.5% | S100Z483 |
| Share buyback | 0 | 0.0% | S100Z483 |
| Change in cash | 10,104 | 38.9% | S100Z483 |
| Cash and equivalents | 14,277 | 55.0% | S100Z483 |

## 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 Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,721 | 3,574 | 5,137 | 4,173 | 14,277 | S100UG2L, S100WR7B, S100Z483 |
| Total assets | 11,859 | 15,080 | 19,285 | 24,827 | 33,521 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Net assets | 8,040 | 11,151 | 14,467 | 18,042 | 25,091 | S100UG2L, S100WR7B, S100Z483 |
| Share capital | 1,348 | 1,348 | 1,348 | 1,348 | 1,348 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Property, plant and equipment | 5,628 | 6,732 | 8,601 | 10,082 | 11,739 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Intangible assets excluding goodwill | 108 | 129 | 143 | 156 | 144 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Investment securities | 19 | 20 | 22 | 4,354 | 57 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Current assets | 5,029 | 6,675 | 8,589 | 7,735 | 18,661 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Current liabilities | 2,765 | 2,814 | 3,355 | 4,304 | 5,661 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Long-term borrowings | 160 | 112 | 64 | 943 | 469 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Total liabilities | 3,819 | 3,929 | 4,818 | 6,785 | 8,431 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Equity attributable to owners of parent | 8,038 | 11,149 | 14,463 | 17,987 | 25,088 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Retained earnings | 7,872 | 10,983 | 14,231 | 17,756 | 24,857 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |
| Treasury stock | -2,189 | -2,189 | -2,165 | -2,165 | -2,165 | S100RXO1, S100UG2L, S100WR7B, S100Z483 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 43% | S100Z483 |
| Property, plant and equipment | 35% | S100Z483 |
| Intangibles and goodwill | 0% | S100Z483 |
| Investment securities | 0% | S100Z483 |
| Other assets | 22% | S100Z483 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 25% | S100Z483 |
| Equity | 75% | S100Z483 |
| Other liabilities | 0% | S100Z483 |

### Balance sheet history

| Metric | FY ending Jun 2022 | FY ending Jun 2023 | FY ending Jun 2024 | FY ending Jun 2025 | FY ending Jun 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 11,859 | 15,080 | 19,285 | 24,827 | 33,521 |
| Equity | 8,040 | 11,151 | 14,467 | 18,042 | 25,091 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,721 | 3,574 | 5,137 | 4,173 | 14,277 |

## 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) | 45.2% | S100Z483 |
| Fixed assets ÷ total assets | 35.0% | S100Z483 |
| Goodwill ÷ parent equity | — | —, S100Z483 |

### 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) | 42.6% |
| Cash ÷ revenue | 55.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 63.5% |
| Cash vs. profit gap | -5,438 JPY mn (of net income -55.3%) |
| Shareholder returns / net income | 27.8% |
| Shareholder returns / FCF | 101.7% |
| Shareholder payments — dividends / net income | 27.8% |
| Shareholder payments — dividends / FCF | 101.7% |
| CapEx intensity (capex ÷ revenue) | 6.6% |
| Investing CF relative to operating CF | 203.7% |

## 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 | 21.5% | 1.21× | 26.1% | 1.48× | 38.5% | S100RXO1 |
| 2023 | 23.2% | 1.27× | 29.4% | 1.40× | 41.3% | S100UG2L |
| 2024 | 21.5% | 1.20× | 25.7% | 1.34× | 34.5% | S100WR7B |
| 2025 | 21.2% | 1.05× | 22.2% | 1.36× | 30.1% | S100Z483 |
| 2026 | 37.9% | 0.89× | 33.7% | 1.35× | 45.6% | S100Z483 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社 タニ | Major shareholder | 21.2% | 2026-06-30 |
| ＶＴホールディングス株式会社 | Major shareholder | 17.1% | 2026-06-30 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 6.2% | 2026-06-30 |
| ENEOSトレーディング株式会社 | Major shareholder | 4.7% | 2026-06-30 |
| 賀 来 聡 介 | Major shareholder | 4.3% | 2026-06-30 |
| 名古屋中小企業投資育成株式会社 | Major shareholder | 3.0% | 2026-06-30 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC) (常任代理人 株式会社三菱UFJ銀行 決済事業部) | Major shareholder | 2.6% | 2026-06-30 |
| 鈴 置 力 親 | Major shareholder | 2.4% | 2026-06-30 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.3% | 2026-06-30 |
| 折 川 ひ か り | Major shareholder | 1.6% | 2026-06-30 |
| 折 川 京 祐 | Major shareholder | 1.6% | 2026-06-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第34期(2025/07/01－2026/06/30) | S100Z483 | 2026-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Z483,, |
| 有価証券報告書－第33期(2024/07/01－2025/06/30) | S100WR7B | 2025-09-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WR7B,, |
| 有価証券報告書－第32期(2023/07/01－2024/06/30) | S100UG2L | 2024-09-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UG2L,, |
| 有価証券報告書－第31期(2022/07/01－2023/06/30) | S100RXO1 | 2023-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RXO1,, |
| 有価証券報告書－第30期(令和3年7月1日－令和4年6月30日) | S100P95R | 2022-09-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P95R,, |
| 有価証券報告書－第29期(令和2年7月1日－令和3年6月30日) | S100MIIC | 2021-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MIIC,, |

## 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).