# KODAMA CHEMICAL INDUSTRY 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99期(2025/04/01－2026/03/31) (S100YLN8)
> Page: https://vizora.meequs.com/en/company/kodama-chemical-industry
> Retrieved: 2026-09-30T19:16:16.759Z

## Company

Kodama Chemical Industry, founded in 1946, is a company in Auto Parts listed on TSE Standard. It has 2,730 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KODAMA CHEMICAL INDUSTRY CO., LTD. |
| Ticker | 4222 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4222.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区神田東松下町14番地 東信神田THビル5階 |
| Representative (per filing) | 代表取締役社長 北村 以知雄 |
| Founded | Mar 1946 |
| Share capital | ¥100M |
| Employees (consolidated) | 2,730 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | March |
| Website | www.kodama-chemical.co.jp (https://www.kodama-chemical.co.jp/) |
| Corporate number | 5010501016027 |
| EDINET | E00839 |
| Industries (Vizora) | Auto Parts, Housing Equipment & Building Materials, Industrial Machinery |

> Profile source: annual securities report (S100YLN8, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 99.5 | 110 |
| Profitability | 28.4 | 111 |
| Cash conversion | 81.9 | 108 |
| Efficiency | 98.6 | 111 |

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 59% of Kodama Chemical Industry's sales come from Casting and forging parts, with Powder metallargy parts and Resin molding parts making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +422.1% from the prior year, operating profit +1549.8%.

## Company structure

- Segment revenue mix: Casting and forging parts 58.8%、Powder metallargy parts 21.2%、Resin molding parts 20.0%
- Revenue → net income: ¥82707775000 → ¥23710394000
- Net income → operating cash flow: ¥23710394000 → ¥6957387000（difference ¥-16753007000）
- Main uses of operating cash flow: CapEx ¥6020616000 / dividends — / buybacks ¥70124000
- Change in cash: ¥9960841000
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 | ¥82.7B |  |
| Operating income | ¥2.68B | Margin 3.2% |
| Net income | ¥23.5B | Margin 28.5% |
| Free cash flow | ¥936.8M |  |
| Largest business | Casting and forging parts | of segment revenue 58.8% |
| Employees (consolidated) | 2,730 |  |
| EPS | ¥69.66 |  |
| Book value per share | ¥234.33 |  |
| Equity ratio | 42.3% |  |
| Shares outstanding | 15,637,144 |  |
| Treasury shares | 98,800 |  |
| Shareholders | 7,168 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 16.3% | Cash ÷ revenue 13.2% |
| Vs. industry median margin | -1.5 pp | Auto Parts |
| ROE | 156.9% | Derived from disclosed figures |
| ROA | 58.0% | Derived from disclosed figures |

## Notable figures

- FY2026, revenue is 5.6× its level five years ago

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13768204000 | ¥82707775000 | +500.7% |
| Operating income | ¥508802000 | ¥2679540000 | +426.6% |
| Operating margin | 3.7% | 3.2% | -0.5 pp |
| Employees | 706 people | 2,730 people | +286.7% |
| Cash and equivalents | ¥1953287000 | ¥10942345000 | +460.2% |

### 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 |
| --- | ---: |
| 自動車部品事業 → 事業再編・廃止 | 53.1% |
| 住宅設備 ・ 冷機部品事業 → 事業再編・廃止 | 34.4% |
| エンターテイメント事業 → 事業再編・廃止 | 6.3% |
| アドバンスドマーケット事業 → 事業再編・廃止 | 6.3% |
| 新設・再編 → 樹脂成形事業 | 20.0% |
| 新設・再編 → 鋳鍛造事業 | 58.8% |
| 新設・再編 → 粉末冶金事業 | 21.2% |

Segment revenue source references: 7 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Casting and forging parts | — | — | ¥48641604000 | 3.2% | 2 |
| Powder metallargy parts | — | — | ¥17498342000 | 2.8% | 2 |
| Resin molding parts | — | — | ¥16567828000 | 7.0% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 82,708 | 100.0% | S100YLN8 |
| Cost of revenue | 72,482 | 87.6% | S100YLN8 |
| Gross profit | 10,226 | 12.4% | S100YLN8 |
| SG&A | 7,546 | 9.1% | S100YLN8 |
| Operating income | 2,680 | 3.2% | S100YLN8 |
| Ordinary income | 2,296 | 2.8% | S100YLN8 |
| Pretax income | 24,176 | 29.2% | S100YLN8 |
| Income tax | 465 | 0.6% | S100YLN8 |
| Net income | 23,710 | 28.7% | S100YLN8 |
| Net income attributable to owners | 23,534 | 28.5% | S100YLN8 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 88 |
| SG&A | 9 |
| Operating income | 3 |
| (Ref.) Net income | 28 |

### Margin funnel

Gross margin 12.4% → Operating margin 3.2% → Net margin 28.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +422.1%; Core profit growth: +1549.8%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.67×
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 | 15,842 | 82,708 | 66,866 | +422.1% |
| Gross profit | 2,444 | 10,226 | 7,781 | +318.3% |
| Operating income | 162 | 2,680 | 2,517 | +1549.8% |
| Net income attributable to owners | -133 | 23,534 | 23,667 | — |
| Operating cash flow | 1,438 | 6,957 | 5,519 | +383.8% |
| Free cash flow | 570 | 937 | 367 | +64.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 17,867 | 184 | 1.0% | -472 | 746 | 51 | S100LWKQ |
| FY ending Mar 2021 | 13,768 | 509 | 3.7% | 350 | 628 | 213 | S100ODWJ |
| FY ending Mar 2022 | 14,885 | 678 | 4.6% | 417 | 1,088 | 863 | S100SJCO |
| FY ending Mar 2023 | 15,390 | 381 | 2.5% | 189 | 906 | 306 | S100TVCU |
| FY ending Mar 2024 | 14,697 | 165 | 1.1% | -244 | 1,414 | -411 | S100W93H |
| FY ending Mar 2025 | 15,842 | 162 | 1.0% | -133 | 1,438 | 570 | S100YLN8 |
| FY ending Mar 2026 | 82,708 | 2,680 | 3.2% | 23,534 | 6,957 | 937 | S100YLN8 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥30.3M |
| Operating income per employee (consolidated) | ¥981.5K |
| Net income per employee (consolidated) | ¥8.6M |

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) | 693 | 740 | 618 | 615 | 2,730 |
| Average salary (parent company) | ¥4.8M | ¥4.8M | ¥5.1M | ¥4.6M | ¥5.2M |
| Average age (parent company) | 43.1 years | 42.9 years | 45.0 years | 45.9 years | 46.7 years |
| Average tenure (parent company) | 16.1 years | 15.1 years | 16.6 years | 15.6 years | 16.1 years |

Year over year: Employees (consolidated) +343.9% · Revenue (consolidated) +422.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Resin molding parts | 16,568 | 20.0% | 1,155 | 7.0% |
| Casting and forging parts | 48,642 | 58.8% | 1,579 | 3.2% |
| Powder metallargy parts | 17,498 | 21.2% | 489 | 2.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Resin molding parts | 20.0% | 35.8% | 15.8 | 7.0% |
| Casting and forging parts | 58.8% | 49.0% | -9.8 | 3.2% |
| Powder metallargy parts | 21.2% | 15.2% | -6.0 | 2.8% |

Segment → industry: Powder metallargy parts → Auto Parts / Casting and forging parts → Auto Parts / Resin molding parts → Auto Parts / Resin molding parts → Housing Equipment & Building Materials / Powder metallargy parts → 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 | 6,957 | 8.4% | S100YLN8 |
| Capital expenditure | 6,021 | 7.3% | S100YLN8 |
| Free cash flow | 937 | 1.1% | 算出 |
| Investing cash flow | 7,729 | 9.3% | S100YLN8 |
| Financing cash flow | -4,689 | -5.7% | S100YLN8 |
| Share buyback | 70 | 0.1% | S100YLN8 |
| Change in cash | 9,961 | 12.0% | S100YLN8 |
| Cash and equivalents | 10,942 | 13.2% | S100YLN8 |

## 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 | 1,769 | 1,317 | 1,530 | 982 | 10,942 | S100TVCU, S100W93H, S100YLN8 |
| Total assets | 12,885 | 13,356 | 14,602 | 14,095 | 67,111 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Net assets | 4,467 | 4,953 | 5,240 | 5,470 | 30,289 | S100TVCU, S100W93H, S100YLN8 |
| Share capital | 100 | 100 | 100 | 100 | 100 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Trade receivables | 2,682 | 2,705 | 2,592 | 2,456 | 9,303 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Property, plant and equipment | 6,526 | 7,099 | 7,981 | 7,761 | 31,454 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Intangible assets excluding goodwill | 100 | 89 | 80 | 70 | 276 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Investment securities | 305 | 333 | 583 | 737 | 460 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Current assets | 5,911 | 5,785 | 5,899 | 5,454 | 32,837 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Current liabilities | 7,436 | 7,861 | 6,508 | 7,826 | 19,039 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Trade payables | 1,806 | 1,844 | 1,602 | 1,685 | 6,870 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Short-term borrowings | 4,034 | 3,856 | 1,921 | 1,478 | 1,945 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Long-term borrowings | 436 | — | 1,943 | — | 12,529 | S100SJCO, S100W93H, S100YLN8 |
| Total liabilities | 8,418 | 8,403 | 9,362 | 8,624 | 36,822 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Non-controlling interests | 815 | 1,051 | 1,198 | 1,411 | 1,870 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Equity attributable to owners of parent | 3,524 | 3,675 | 3,396 | 3,226 | 26,769 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Retained earnings | 1,228 | 1,378 | 1,094 | 921 | 24,517 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |
| Treasury stock | -59 | -58 | -53 | -50 | -74 | S100SJCO, S100TVCU, S100W93H, S100YLN8 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100YLN8 |
| Receivables | 14% | S100YLN8 |
| Property, plant and equipment | 47% | S100YLN8 |
| Intangibles and goodwill | 0% | S100YLN8 |
| Investment securities | 1% | S100YLN8 |
| Other assets | 22% | S100YLN8 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 10% | S100YLN8 |
| Other liabilities | 45% | S100YLN8 |
| Equity | 45% | S100YLN8 |
| Other liabilities | 0% | S100YLN8 |

### 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 | 12,885 | 13,356 | 14,602 | 14,095 | 67,111 |
| Equity | 4,467 | 4,953 | 5,240 | 5,470 | 30,289 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,769 | 1,317 | 1,530 | 982 | 10,942 |

## 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) | 38.0% | S100YLN8 |
| Fixed assets ÷ total assets | 46.9% | S100YLN8 |
| Goodwill ÷ parent equity | — | —, S100YLN8 |

### 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) | 16.3% |
| Cash ÷ revenue | 13.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 259.6% |
| Cash vs. profit gap | -16,577 JPY mn (of net income -70.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 7.3% |
| Investing CF relative to operating CF | 111.1% |

## 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 | 2.8% | 1.16× | 3.2% | 3.66× | 11.8% | S100SJCO |
| 2023 | 1.2% | 1.17× | 1.4% | 3.65× | 5.3% | S100TVCU |
| 2024 | — | —× | -1.7% | —× | — | S100W93H |
| 2025 | — | —× | -0.9% | —× | — | S100YLN8 |
| 2026 | 28.5% | 2.04× | 58.0% | 2.71× | 156.9% | S100YLN8 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| エンデバー・ユナイテッド２号投資事業有限責任組合 | Major shareholder | 52.1% | 2026-03-31 |
| 小林智治 | Major shareholder | 1.3% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 1.3% | 2026-03-31 |
| 小林崇将 | Major shareholder | 1.3% | 2026-03-31 |
| 大和証券株式会社 | Major shareholder | 1.2% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 1.0% | 2026-03-31 |
| セントラル短資株式会社 | Major shareholder | 1.0% | 2026-03-31 |
| 日本証券金融株式会社 | Major shareholder | 1.0% | 2026-03-31 |
| 林成昭 | Major shareholder | 0.8% | 2026-03-31 |
| 松井証券株式会社 | Major shareholder | 0.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第99期(2025/04/01－2026/03/31) | S100YLN8 | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLN8,, |
| 有価証券報告書－第98期(2024/04/01－2025/03/31) | S100W93H | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W93H,, |
| 有価証券報告書－第97期(2023/04/01－2024/03/31) | S100TVCU | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVCU,, |
| 訂正有価証券報告書－第96期(2022/04/01－2023/03/31) | S100SJCO | 2023-12-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SJCO,, |
| 有価証券報告書－第95期(令和3年4月1日－令和4年3月31日) | S100ODWJ | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODWJ,, |
| 訂正有価証券報告書－第94期(令和2年4月1日－令和3年3月31日) | S100LWKQ | 2021-07-02 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LWKQ,, |

## 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).