# KIMURA CHEMICAL PLANTS  CO., LTD.: 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) (S100YF9Q)
> Page: https://vizora.meequs.com/en/company/kimura-chemical-plants
> Retrieved: 2026-09-30T20:00:08.796Z

## Company

Kimura Chemical Plants, founded in 2017, is a company in Electrical Equipment listed on TSE Standard. It has 442 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KIMURA CHEMICAL PLANTS CO., LTD. |
| Ticker | 6378 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6378.T) |
| Listing | TSE Standard |
| Head office | 兵庫県尼崎市杭瀬寺島二丁目1番2号 |
| Representative (per filing) | 代表取締役 取締役会長兼取締役社長 小林康眞 |
| Founded | Oct 2017 |
| Share capital | ¥1.03B |
| Employees (consolidated) | 442 |
| Average salary (parent only) | ¥8.6M |
| Fiscal year end | March |
| Website | www.kcpc.co.jp (https://www.kcpc.co.jp/) |
| Corporate number | 7140001048448 |
| EDINET | E01546 |
| Industries (Vizora) | Electrical Equipment, Plant Engineering & Building Services, Industrial Machinery |

> Profile source: annual securities report (S100YF9Q, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 45.1 | 72 |
| Profitability | 61.2 | 76 |
| Cash conversion | 54.7 | 74 |
| Efficiency | 23 | 76 |

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 44% of Kimura Chemical Plants's sales come from Chemical plants, with Energy and environment engineering and Engineering making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +5.8% from the prior year, operating profit +0.4%.

## Company structure

- Segment revenue mix: Chemical plants 44.2%、Energy and environment engineering 30.0%、Engineering 25.7%
- Revenue → net income: ¥27972000000 → ¥2259000000
- Net income → operating cash flow: ¥2259000000 → ¥2534000000（difference ¥275000000）
- Main uses of operating cash flow: CapEx ¥1021000000 / dividends ¥845000000 / buybacks ¥675000000
- Change in cash: ¥-601000000
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 | ¥28B |  |
| Operating income | ¥3.02B | Margin 10.8% |
| Net income | ¥2.26B | Margin 8.1% |
| Free cash flow | ¥1.51B |  |
| Largest business | Chemical plants | of segment revenue 44.2% |
| Employees (consolidated) | 442 |  |
| EPS | ¥113.67 |  |
| Book value per share | ¥1017.06 |  |
| Equity ratio | 61.0% |  |
| Shares outstanding | 20,600,000 |  |
| Treasury shares | 100 |  |
| Shareholders | 12,832 |  |
| Average salary (parent only) | ¥8.6M | Filing company only |
| Cash ratio | 27.5% | Cash ÷ revenue 33.2% |
| Vs. industry median margin | +1.7 pp | Plant Engineering & Building Services |
| ROE | 14.0% | Derived from disclosed figures |
| ROA | 6.7% | Derived from disclosed figures |

## Notable figures

- FY2026, segment profit share differs by 23 points
- FY2026, cash is 27% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥21516000000 | ¥27972000000 | +30.0% |
| Operating income | ¥1900000000 | ¥3024000000 | +59.2% |
| Operating margin | 8.8% | 10.8% | +2 pp |
| Employees | 385 people | 442 people | +14.8% |
| Cash and equivalents | ¥6437000000 | ¥9291000000 | +44.3% |

### 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 |
| --- | ---: |
| エンジニアリング事業 → エンジニアリング事業 | 25.7% |
| エンジニアリング事業 → 事業再編・廃止 | 13.1% |
| 化工機事業 → 化工機事業 | 35.6% |
| エネルギー・環境事業 → エネルギー・環境事業 | 25.6% |
| 新設・再編 → 化工機事業 | 8.6% |
| 新設・再編 → エネルギー・環境事業 | 4.4% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Chemical plants | 5 years | +10.1% | ¥12377000000 | 9.3% | 2 |
| Energy and environment engineering | 5 years | +8.8% | ¥8398000000 | 19.2% | 2 |
| Engineering | 5 years | -2.9% | ¥7196000000 | 3.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 27,972 | 100.0% | S100YF9Q |
| Cost of revenue | 21,549 | 77.0% | S100YF9Q |
| Gross profit | 6,423 | 23.0% | S100YF9Q |
| SG&A | 3,399 | 12.2% | S100YF9Q |
| Operating income | 3,024 | 10.8% | S100YF9Q |
| Ordinary income | 3,102 | 11.1% | S100YF9Q |
| Pretax income | 3,161 | 11.3% | S100YF9Q |
| Income tax | 902 | 3.2% | S100YF9Q |
| Net income | 2,259 | 8.1% | S100YF9Q |
| Net income attributable to owners | 2,259 | 8.1% | S100YF9Q |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 12 |
| Operating income | 11 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 23.0% → Operating margin 10.8% → Net margin 8.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +5.8%; Core profit growth: +0.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.07×
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 | 26,431 | 27,972 | 1,541 | +5.8% |
| Gross profit | 5,809 | 6,423 | 614 | +10.6% |
| Operating income | 3,012 | 3,024 | 12 | +0.4% |
| Net income attributable to owners | 2,309 | 2,259 | -50 | -2.2% |
| Operating cash flow | 2,576 | 2,534 | -42 | -1.6% |
| Free cash flow | 2,077 | 1,513 | -564 | -27.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 20,711 | 1,750 | 8.4% | 1,215 | -1,720 | -1,895 | S100LP8T |
| FY ending Mar 2021 | 21,516 | 1,900 | 8.8% | 1,333 | 2,120 | 1,935 | S100ODJU |
| FY ending Mar 2022 | 24,589 | 2,675 | 10.9% | 1,968 | -214 | -363 | S100R1P7 |
| FY ending Mar 2023 | 21,553 | 1,736 | 8.1% | 999 | 3,407 | 2,811 | S100TOCW |
| FY ending Mar 2024 | 24,670 | 2,088 | 8.5% | 1,552 | 1,014 | 774 | S100W6OW |
| FY ending Mar 2025 | 26,431 | 3,012 | 11.4% | 2,309 | 2,576 | 2,077 | S100YF9Q |
| FY ending Mar 2026 | 27,972 | 3,024 | 10.8% | 2,259 | 2,534 | 1,513 | S100YF9Q |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥63.3M |
| Operating income per employee (consolidated) | ¥6.8M |
| Net income per employee (consolidated) | ¥5.1M |

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) | 388 | 394 | 398 | 411 | 442 |
| Average salary (parent company) | ¥7.6M | ¥7.5M | ¥7.4M | ¥8M | ¥8.6M |
| Average age (parent company) | 45.6 years | 45.9 years | 45.5 years | 45.9 years | 45.8 years |
| Average tenure (parent company) | 17.1 years | 17.3 years | 17.0 years | 17.1 years | 16.3 years |

Year over year: Employees (consolidated) +7.5% · Revenue (consolidated) +5.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Engineering | 7,196 | 25.7% | 260 | 3.6% |
| Chemical plants | 12,377 | 44.2% | 1,150 | 9.3% |
| Energy and environment engineering | 8,398 | 30.0% | 1,613 | 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 |
| --- | ---: | ---: | ---: | ---: |
| Engineering | 25.7% | 8.6% | -17.1 | 3.6% |
| Chemical plants | 44.2% | 38.0% | -6.2 | 9.3% |
| Energy and environment engineering | 30.0% | 53.4% | 23.3 | 19.2% |

Segment → industry: Energy and environment engineering → Electrical Equipment / Chemical plants → Plant Engineering & Building Services / Engineering → Plant Engineering & Building Services / Energy and environment engineering → Industrial Machinery / Engineering → Industrial Machinery

## 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 | 2,534 | 9.1% | S100YF9Q |
| Capital expenditure | 1,021 | 3.7% | S100YF9Q |
| Free cash flow | 1,513 | 5.4% | 算出 |
| Investing cash flow | -1,967 | -7.0% | S100YF9Q |
| Financing cash flow | -1,164 | -4.2% | S100YF9Q |
| Dividends paid | 845 | 3.0% | S100YF9Q |
| Share buyback | 675 | 2.4% | S100YF9Q |
| Change in cash | -601 | -2.1% | S100YF9Q |
| Cash and equivalents | 9,291 | 33.2% | S100YF9Q |

## 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 | 5,569 | 7,628 | 8,358 | 9,892 | 9,291 | S100TOCW, S100W6OW, S100YF9Q |
| Total assets | 29,517 | 30,155 | 34,641 | 33,909 | 33,813 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Net assets | 14,691 | 15,424 | 17,450 | 19,133 | 20,619 | S100TOCW, S100W6OW, S100YF9Q |
| Share capital | 1,030 | 1,030 | 1,030 | 1,030 | 1,030 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Property, plant and equipment | 5,500 | 5,798 | 5,753 | 5,957 | 6,770 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Intangible assets excluding goodwill | 31 | 26 | 34 | 62 | 70 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Investment securities | 1,315 | 1,378 | 2,152 | 2,024 | 2,815 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Current assets | 21,097 | 21,404 | 25,170 | 24,394 | 21,550 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Current liabilities | 11,070 | 11,186 | 13,388 | 10,848 | 8,598 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Trade payables | 2,874 | 2,627 | 2,936 | 2,914 | 2,842 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Short-term borrowings | 520 | 505 | 552 | 515 | — | S100R1P7, S100TOCW, S100W6OW |
| Long-term borrowings | 1,137 | 822 | 1,030 | 990 | 1,285 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Total liabilities | 14,826 | 14,731 | 17,191 | 14,776 | 13,194 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Equity attributable to owners of parent | 12,084 | 12,721 | 14,018 | 15,813 | 16,551 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Retained earnings | 11,538 | 12,126 | 13,369 | 15,163 | 16,578 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |
| Treasury stock | -612 | -563 | -509 | -509 | -1,184 | S100R1P7, S100TOCW, S100W6OW, S100YF9Q |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100YF9Q |
| Property, plant and equipment | 20% | S100YF9Q |
| Intangibles and goodwill | 0% | S100YF9Q |
| Investment securities | 8% | S100YF9Q |
| Other assets | 44% | S100YF9Q |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 8% | S100YF9Q |
| Other liabilities | 31% | S100YF9Q |
| Equity | 61% | S100YF9Q |

### 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 | 29,517 | 30,155 | 34,641 | 33,909 | 33,813 |
| Equity | 14,691 | 15,424 | 17,450 | 19,133 | 20,619 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,569 | 7,628 | 8,358 | 9,892 | 9,291 |

## 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) | 24.2% | S100YF9Q |
| Fixed assets ÷ total assets | 20.0% | S100YF9Q |
| Goodwill ÷ parent equity | — | —, S100YF9Q |

### 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) | 27.5% |
| Cash ÷ revenue | 33.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 83.8% |
| Cash vs. profit gap | 275 JPY mn (of net income 12.2%) |
| Shareholder returns / net income | 67.3% |
| Shareholder returns / FCF | 100.5% |
| Shareholder payments — dividends / net income | 37.4% |
| Shareholder payments — dividends / FCF | 55.8% |
| CapEx intensity (capex ÷ revenue) | 3.7% |
| Investing CF relative to operating CF | 77.6% |

## 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 | 8.0% | 0.83× | 6.7% | 2.44× | 16.3% | S100R1P7 |
| 2023 | 4.6% | 0.72× | 3.3% | 2.41× | 8.1% | S100TOCW |
| 2024 | 6.3% | 0.76× | 4.8% | 2.42× | 11.6% | S100W6OW |
| 2025 | 8.7% | 0.77× | 6.7% | 2.30× | 15.5% | S100YF9Q |
| 2026 | 8.1% | 0.83× | 6.7% | 2.09× | 14.0% | S100YF9Q |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 7.0% | 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 | 6.2% | 2026-03-31 |
| 木村化工機関連グループ持株会 | Major shareholder | 5.8% | 2026-03-31 |
| 株式会社奥村組 | Major shareholder | 4.7% | 2026-03-31 |
| キムラ従業員持株会 | Major shareholder | 4.7% | 2026-03-31 |
| 小 林 康 眞 | Major shareholder | 3.0% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 3.0% | 2026-03-31 |
| 三井住友信託銀行株式会社 | Major shareholder | 2.9% | 2026-03-31 |
| 木 村 孝 吉 | Major shareholder | 2.0% | 2026-03-31 |
| ニプロ株式会社 | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第79期(2025/04/01－2026/03/31) | S100YF9Q | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YF9Q,, |
| 有価証券報告書－第78期(2024/04/01－2025/03/31) | S100W6OW | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6OW,, |
| 有価証券報告書－第77期(2023/04/01－2024/03/31) | S100TOCW | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TOCW,, |
| 有価証券報告書－第76期(2022/04/01－2023/03/31) | S100R1P7 | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1P7,, |
| 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) | S100ODJU | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODJU,, |
| 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) | S100LP8T | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LP8T,, |

## 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).