# KOHSOKU CORPORATION: 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63期(2025/04/01－2026/03/31) (S100YEIF)
> Page: https://vizora.meequs.com/en/company/kohsoku
> Retrieved: 2026-09-30T22:04:38.564Z

## Company

Kohsoku, founded in 1966, is a company in Food Packaging listed on TSE Prime. It has 1,147 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | KOHSOKU CORPORATION |
| Ticker | 7504 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7504.T) |
| Listing | TSE Prime |
| Head office | 仙台市宮城野区扇町七丁目4番20号 |
| Representative (per filing) | 代表取締役 社長執行役員 赫 裕規 |
| Founded | Feb 1966 |
| Share capital | ¥1.72B |
| Employees (consolidated) | 1,147 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | March |
| Website | www.kohsoku.com (https://www.kohsoku.com/) |
| Corporate number | 4370001005032 |
| EDINET | E02850 |
| Industries (Vizora) | Food Packaging |

> Profile source: annual securities report (S100YEIF, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Food Packaging (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 96.7 | 15 |
| Profitability | 36.7 | 15 |
| Cash conversion | 3.6 | 14 |
| Efficiency | 96.7 | 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)

- Kohsoku brought in ¥124.2B in revenue.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +7.1% from the prior year, operating profit +7.4%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥124191544000 → ¥3764003000
- Net income → operating cash flow: ¥3764003000 → ¥2534003000（difference ¥-1230000000）
- Main uses of operating cash flow: CapEx ¥4503646000 / dividends ¥1659192000 / buybacks ¥275000
- Change in cash: ¥-3499902000
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 | ¥124.2B |  |
| Operating income | ¥4.87B | Margin 3.9% |
| Net income | ¥3.76B | Margin 3.0% |
| Free cash flow | -¥1.97B |  |
| Employees (consolidated) | 1,147 |  |
| EPS | ¥176 |  |
| Book value per share | ¥1799.25 |  |
| Equity ratio | 67.3% |  |
| Shares outstanding | 20,990,920 |  |
| Treasury shares | 1,437,400 |  |
| Shareholders | 11,073 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 7.3% | Cash ÷ revenue 3.7% |
| Vs. industry median margin | -1.5 pp | Food Packaging |
| ROE | 9.4% | Derived from disclosed figures |
| ROA | 6.1% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +22% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥86494620000 | ¥124191544000 | +43.6% |
| Operating income | ¥3340094000 | ¥4865788000 | +45.7% |
| Operating margin | 3.9% | 3.9% | +0.1 pp |
| Employees | 977 people | 1,147 people | +17.4% |
| Cash and equivalents | ¥11365817000 | ¥4616952000 | -59.4% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 124,192 | 100.0% | S100YEIF |
| Cost of revenue | 99,442 | 80.1% | S100YEIF |
| Gross profit | 24,749 | 19.9% | S100YEIF |
| SG&A | 19,883 | 16.0% | S100YEIF |
| Operating income | 4,866 | 3.9% | S100YEIF |
| Ordinary income | 5,238 | 4.2% | S100YEIF |
| Pretax income | 5,241 | 4.2% | S100YEIF |
| Income tax | 1,477 | 1.2% | S100YEIF |
| Net income | 3,764 | 3.0% | S100YEIF |
| Net income attributable to owners | 3,764 | 3.0% | S100YEIF |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 80 |
| SG&A | 16 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 19.9% → Operating margin 3.9% → Net margin 3.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.1%; Core profit growth: +7.4%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 1.03×
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 | 115,915 | 124,192 | 8,276 | +7.1% |
| Gross profit | 23,041 | 24,749 | 1,708 | +7.4% |
| Operating income | 4,532 | 4,866 | 333 | +7.4% |
| Net income attributable to owners | 3,466 | 3,764 | 298 | +8.6% |
| Operating cash flow | 971 | 2,534 | 1,563 | +161.0% |
| Free cash flow | -1,317 | -1,970 | -653 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 88,588 | 3,138 | 3.5% | 2,271 | 1,124 | -143 | S100M937 |
| FY ending Mar 2021 | 86,495 | 3,340 | 3.9% | 2,420 | 3,175 | 2,292 | S100OBS0 |
| FY ending Mar 2022 | 91,818 | 3,696 | 4.0% | 2,662 | 3,248 | 891 | S100R2YB |
| FY ending Mar 2023 | 98,850 | 4,008 | 4.1% | 2,979 | 2,559 | 1,711 | S100TN87 |
| FY ending Mar 2024 | 106,217 | 4,228 | 4.0% | 3,115 | 4,584 | 3,022 | S100VZBQ |
| FY ending Mar 2025 | 115,915 | 4,532 | 3.9% | 3,466 | 971 | -1,317 | S100YEIF |
| FY ending Mar 2026 | 124,192 | 4,866 | 3.9% | 3,764 | 2,534 | -1,970 | S100YEIF |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥108.3M |
| Operating income per employee (consolidated) | ¥4.2M |
| Net income per employee (consolidated) | ¥3.3M |

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) | 1,001 | 1,002 | 1,023 | 1,120 | 1,147 |
| Average salary (parent company) | ¥4.9M | ¥5.3M | ¥5.5M | ¥5.7M | ¥6M |
| Average age (parent company) | 39.0 years | 39.5 years | 39.4 years | 39.2 years | 39.0 years |
| Average tenure (parent company) | 9.8 years | 10.3 years | 10.4 years | 10.4 years | 10.6 years |

Year over year: Employees (consolidated) +2.4% · Revenue (consolidated) +7.1%

## 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 | 2.0% | S100YEIF |
| Capital expenditure | 4,504 | 3.6% | S100YEIF |
| Free cash flow | -1,970 | -1.6% | 算出 |
| Investing cash flow | -4,254 | -3.4% | S100YEIF |
| Financing cash flow | -1,780 | -1.4% | S100YEIF |
| Dividends paid | 1,659 | 1.3% | S100YEIF |
| Share buyback | 0 | 0.0% | S100YEIF |
| Change in cash | -3,500 | -2.8% | S100YEIF |
| Cash and equivalents | 4,617 | 3.7% | S100YEIF |

## 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 | 9,701 | 8,647 | 10,589 | 8,117 | 4,617 | S100TN87, S100VZBQ, S100YEIF |
| Total assets | 52,473 | 55,900 | 61,498 | 61,247 | 63,179 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Net assets | 32,138 | 34,267 | 36,901 | 39,770 | 42,516 | S100TN87, S100VZBQ, S100YEIF |
| Share capital | 1,690 | 1,690 | 1,725 | 1,725 | 1,725 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Property, plant and equipment | 17,910 | 18,050 | 18,741 | 20,492 | 24,340 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Intangible assets excluding goodwill | 768 | 744 | 648 | 543 | 470 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Investment securities | 3,405 | 4,974 | 5,429 | 5,932 | 6,143 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Current assets | 29,123 | 30,741 | 35,344 | 32,988 | 30,726 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Current liabilities | 18,737 | 20,078 | 23,037 | 19,824 | 18,762 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Trade payables | 7,865 | 8,624 | 8,596 | 8,859 | 9,011 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Total liabilities | 20,336 | 21,633 | 24,598 | 21,477 | 20,662 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Equity attributable to owners of parent | 31,942 | 34,052 | 36,292 | 38,968 | 41,317 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Retained earnings | 29,749 | 31,858 | 34,065 | 36,467 | 38,571 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |
| Treasury stock | -1,355 | -1,356 | -1,356 | -1,247 | -1,173 | S100R2YB, S100TN87, S100VZBQ, S100YEIF |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 7% | S100YEIF |
| Property, plant and equipment | 38% | S100YEIF |
| Intangibles and goodwill | 1% | S100YEIF |
| Investment securities | 10% | S100YEIF |
| Other assets | 44% | S100YEIF |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 14% | S100YEIF |
| Other liabilities | 19% | S100YEIF |
| Equity | 67% | S100YEIF |

### 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 | 52,473 | 55,900 | 61,498 | 61,247 | 63,179 |
| Equity | 32,138 | 34,267 | 36,901 | 39,770 | 42,516 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 9,701 | 8,647 | 10,589 | 8,117 | 4,617 |

## 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) | 19.6% | S100YEIF |
| Fixed assets ÷ total assets | 38.5% | S100YEIF |
| Goodwill ÷ parent equity | — | —, S100YEIF |

### 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) | 7.3% |
| Cash ÷ revenue | 3.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 52.1% |
| Cash vs. profit gap | -1,230 JPY mn (of net income -32.7%) |
| Shareholder returns / net income | 44.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 44.1% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 3.6% |
| Investing CF relative to operating CF | 167.9% |

## 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 | 2.9% | 1.75× | 5.1% | 1.64× | 8.3% | S100R2YB |
| 2023 | 3.0% | 1.82× | 5.5% | 1.64× | 9.0% | S100TN87 |
| 2024 | 2.9% | 1.81× | 5.3% | 1.67× | 8.9% | S100VZBQ |
| 2025 | 3.0% | 1.89× | 5.6% | 1.63× | 9.2% | S100YEIF |
| 2026 | 3.0% | 2.00× | 6.1% | 1.55× | 9.4% | S100YEIF |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 管理信託（高速興産B号株式会社 0700207号）受託者みずほ信託銀行株式会社 | Major shareholder | 11.2% | 2026-03-31 |
| 管理信託（高速興産C号株式会社 0700208号）受託者みずほ信託銀行株式会社 | Major shareholder | 11.2% | 2026-03-31 |
| ビービーエイチ フオー フイデリテイー ロープライス ストツク フアンド （常任代理人 ㈱三菱ＵＦＪ銀行） | Major shareholder | 7.3% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 6.3% | 2026-03-31 |
| 管理信託（高速興産A号株式会社 0700206号）受託者みずほ信託銀行株式会社 | Major shareholder | 5.7% | 2026-03-31 |
| 光通信KK投資事業有限責任組合 | Major shareholder | 4.2% | 2026-03-31 |
| 高速興産B号㈱ | Major shareholder | 3.2% | 2026-03-31 |
| 高速興産C号㈱ | Major shareholder | 3.1% | 2026-03-31 |
| ㈱七十七銀行 | Major shareholder | 2.6% | 2026-03-31 |
| 赫 由美子 | Major shareholder | 2.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第63期(2025/04/01－2026/03/31) | S100YEIF | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YEIF,, |
| 有価証券報告書－第62期(2024/04/01－2025/03/31) | S100VZBQ | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZBQ,, |
| 有価証券報告書－第61期(2023/04/01－2024/03/31) | S100TN87 | 2024-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TN87,, |
| 有価証券報告書－第60期(2022/04/01－2023/03/31) | S100R2YB | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2YB,, |
| 有価証券報告書－第59期(令和3年4月1日－令和4年3月31日) | S100OBS0 | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBS0,, |
| 訂正有価証券報告書－第58期(令和2年4月1日－令和3年3月31日) | S100M937 | 2021-08-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100M937,, |

## 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).