# Kyokuto Co., Ltd.: business model and financials

> Latest period: FY ending Feb 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第47期(2025/03/01－2026/02/28) (S100Y6G1)
> Page: https://vizora.meequs.com/en/company/kyokuto
> Retrieved: 2026-09-30T21:34:17.354Z

## Company

Kyokuto, founded in 1964, is a company in Home & Lifestyle Services listed on TSE Standard. It has 141 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Kyokuto Co., Ltd. |
| Ticker | 2300 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2300.T) |
| Listing | TSE Standard |
| Head office | 福岡市博多区金の隈一丁目28番53号 |
| Representative (per filing) | 代表取締役社長 井上和美 |
| Founded | Jun 1964 |
| Share capital | ¥555.1M |
| Employees (consolidated) | 141 |
| Average salary (parent only) | ¥4.3M |
| Fiscal year end | February |
| Website | www.cl-kyokuto.co.jp (https://www.cl-kyokuto.co.jp/) |
| Corporate number | 7290001012793 |
| EDINET | E05278 |
| Industries (Vizora) | Home & Lifestyle Services |

> Profile source: annual securities report (S100Y6G1, filed 2026-05-26). As of filing

## Five-axis industry profile

Primary industry: Home & Lifestyle Services (2026-02-28)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 38.9 | 9 |
| Profitability | 5 | 10 |
| Cash conversion | 95 | 10 |
| Efficiency | 55 | 10 |

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)

- Kyokuto brought in ¥5.24B in revenue.
- Operating profit was close to zero, a slight profit per ¥100 of sales.
- Revenue changed -2.5% from the prior year, operating profit -96.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥5244187000 → ¥53880000
- Net income → operating cash flow: ¥53880000 → ¥122483000（difference ¥68603000）
- Main uses of operating cash flow: CapEx ¥36781000 / dividends ¥57850000 / buybacks ¥43000
- Change in cash: ¥-147233000
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 | ¥5.24B |  |
| Operating income | ¥2.9M | Margin 0.1% |
| Net income | ¥53.9M | Margin 1.0% |
| Free cash flow | ¥85.7M |  |
| Employees (consolidated) | 141 |  |
| EPS | ¥10.24 |  |
| Book value per share | ¥437.74 |  |
| Equity ratio | 52.2% |  |
| Shares outstanding | 5,551,230 |  |
| Treasury shares | 290,200 |  |
| Shareholders | 12,047 |  |
| Average salary (parent only) | ¥4.3M | Filing company only |
| Cash ratio | 6.1% | Cash ÷ revenue 5.1% |
| Vs. industry median margin | -4.3 pp | Home & Lifestyle Services |
| ROE | 3.0% | Derived from disclosed figures |
| ROA | 1.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.3× net income
- FY2026, parent-company salary changed +26% over five years

## What changed in 5 years

| Metric | FY ending Feb 2021 | FY ending Feb 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4884515000 | ¥5244187000 | +7.4% |
| Operating income | ¥-624435000 | ¥2942000 | — |
| Operating margin | -12.8% | 0.1% | +12.8 pp |
| Employees | 230 people | 141 people | -38.7% |
| Cash and equivalents | ¥408676000 | ¥267301000 | -34.6% |

### Change in segment revenue mix

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

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,244 | 100.0% | S100Y6G1 |
| Cost of revenue | 1,485 | 28.3% | S100Y6G1 |
| Gross profit | 3,759 | 71.7% | S100Y6G1 |
| SG&A | 3,756 | 71.6% | S100Y6G1 |
| Operating income | 3 | 0.1% | S100Y6G1 |
| Ordinary income | 96 | 1.8% | S100Y6G1 |
| Pretax income | 96 | 1.8% | S100Y6G1 |
| Income tax | 42 | 0.8% | S100Y6G1 |
| Net income | 54 | 1.0% | S100Y6G1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 28 |
| SG&A | 72 |
| Operating income | 0 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 71.7% → Operating margin 0.1% → Net margin 1.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -2.5%; Core profit growth: -96.9%
Operating leverage (core profit growth ÷ revenue growth): 38.23×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,381 | 5,244 | -136 | -2.5% |
| Gross profit | 3,872 | 3,759 | -113 | -2.9% |
| Operating income | 96 | 3 | -93 | -96.9% |
| Operating cash flow | 393 | 122 | -271 | -68.9% |
| Free cash flow | 347 | 86 | -262 | -75.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Feb 2020 | 6,619 | 81 | 1.2% | 50 | 78 | -69 | S100LFVX |
| FY ending Feb 2021 | 4,885 | -624 | -12.8% | -757 | -500 | -589 | S100O5DI |
| FY ending Feb 2022 | 4,581 | -443 | -9.7% | -784 | -136 | -237 | S100RAP7 |
| FY ending Feb 2023 | 4,689 | -178 | -3.8% | -170 | 250 | 134 | S100TI3C |
| FY ending Feb 2024 | 4,917 | 83 | 1.7% | 119 | -287 | -620 | S100VU3P |
| FY ending Feb 2025 | 5,381 | 96 | 1.8% | 83 | 393 | 347 | S100Y6G1 |
| FY ending Feb 2026 | 5,244 | 3 | 0.1% | 54 | 122 | 86 | S100Y6G1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥37.2M |
| Operating income per employee (consolidated) | ¥20.9K |
| Net income per employee (consolidated) | ¥382.1K |

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

| History | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 186 | 161 | 149 | 152 | 141 |
| Average salary (parent company) | ¥3.4M | ¥3.7M | ¥3.8M | ¥4.1M | ¥4.3M |
| Average age (parent company) | 45.3 years | 45.8 years | 47.5 years | 48.4 years | 49.5 years |
| Average tenure (parent company) | 12.3 years | 13.3 years | 13.8 years | 14.5 years | 15.3 years |

Year over year: Employees (consolidated) -7.2% · Revenue (consolidated) -2.5%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 122 | 2.3% | S100Y6G1 |
| Capital expenditure | 37 | 0.7% | S100Y6G1 |
| Free cash flow | 86 | 1.6% | 算出 |
| Investing cash flow | -35 | -0.7% | S100Y6G1 |
| Financing cash flow | -235 | -4.5% | S100Y6G1 |
| Dividends paid | 58 | 1.1% | S100Y6G1 |
| Share buyback | 0 | 0.0% | S100Y6G1 |
| Change in cash | -147 | -2.8% | S100Y6G1 |
| Cash and equivalents | 267 | 5.1% | S100Y6G1 |

## 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 Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 341 | 443 | 360 | 415 | 267 | S100TI3C, S100VU3P, S100Y6G1 |
| Total assets | 3,779 | 3,773 | 4,328 | 4,397 | 4,408 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Net assets | 1,926 | 1,777 | 2,115 | 2,141 | 2,303 | S100TI3C, S100VU3P, S100Y6G1 |
| Share capital | 555 | 555 | 555 | 555 | 555 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Property, plant and equipment | 2,061 | 1,982 | 2,224 | 1,938 | 1,916 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Intangible assets excluding goodwill | 44 | 40 | 106 | 191 | 206 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Goodwill | 10 | 8 | 57 | 44 | 38 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Investment securities | 285 | 373 | 624 | 625 | 841 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Current assets | 722 | 719 | 673 | 708 | 598 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Current liabilities | 675 | 1,221 | 1,059 | 1,043 | 1,105 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Short-term borrowings | 100 | 100 | 260 | 200 | 300 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Long-term borrowings | 507 | 317 | 713 | 649 | 457 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Total liabilities | 1,853 | 1,996 | 2,213 | 2,256 | 2,105 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Equity attributable to owners of parent | 1,924 | 1,686 | 1,774 | 1,799 | 1,795 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Retained earnings | 1,140 | 902 | 990 | 1,015 | 1,011 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |
| Treasury stock | -167 | -167 | -167 | -167 | -167 | S100RAP7, S100TI3C, S100VU3P, S100Y6G1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100Y6G1 |
| Property, plant and equipment | 43% | S100Y6G1 |
| Intangibles and goodwill | 6% | S100Y6G1 |
| Investment securities | 19% | S100Y6G1 |
| Other assets | 26% | S100Y6G1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 48% | S100Y6G1 |
| Equity | 52% | S100Y6G1 |
| Other liabilities | 0% | S100Y6G1 |

### Balance sheet history

| Metric | FY ending Feb 2022 | FY ending Feb 2023 | FY ending Feb 2024 | FY ending Feb 2025 | FY ending Feb 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,779 | 3,773 | 4,328 | 4,397 | 4,408 |
| Equity | 1,926 | 1,777 | 2,115 | 2,141 | 2,303 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 341 | 443 | 360 | 415 | 267 |

## 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) | 36.5% | S100Y6G1 |
| Fixed assets ÷ total assets | 43.5% | S100Y6G1 |
| Goodwill ÷ parent equity | 2.1% | S100Y6G1 |

Goodwill over 4 years: 10 → 38 JPY; total investing cash flow: -506 JPY. This does not imply causation.

### 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) | 6.1% |
| Cash ÷ revenue | 5.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 4163.3% |
| Cash vs. profit gap | 69 JPY mn (of net income 127.3%) |
| Shareholder returns / net income | 107.4% |
| Shareholder returns / FCF | 67.6% |
| Shareholder payments — dividends / net income | 107.4% |
| Shareholder payments — dividends / FCF | 67.5% |
| CapEx intensity (capex ÷ revenue) | 0.7% |
| Investing CF relative to operating CF | 28.7% |

## 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 | — | —× | -20.8% | —× | — | S100RAP7 |
| 2023 | — | —× | -4.5% | —× | — | S100TI3C |
| 2024 | 2.4% | 1.21× | 2.9% | 2.34× | 6.9% | S100VU3P |
| 2025 | 1.5% | 1.23× | 1.9% | 2.44× | 4.6% | S100Y6G1 |
| 2026 | 1.0% | 1.19× | 1.2% | 2.45× | 3.0% | S100Y6G1 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 牧 平 年 廣 | Major shareholder | 30.3% | 2026-02-28 |
| きょくとう社員持株会 | Major shareholder | 5.1% | 2026-02-28 |
| 株式会社西日本シティ銀行 | Major shareholder | 4.8% | 2026-02-28 |
| 株式会社十八親和銀行 | Major shareholder | 4.2% | 2026-02-28 |
| 永 田 光 春 | Major shareholder | 2.8% | 2026-02-28 |
| 株式会社佐賀銀行 | Major shareholder | 2.7% | 2026-02-28 |
| 牧 平 京 子 | Major shareholder | 2.5% | 2026-02-28 |
| ロイヤルネットワーク株式会社 | Major shareholder | 1.9% | 2026-02-28 |
| 冨 沢 広 之 | Major shareholder | 1.7% | 2026-02-28 |
| 株式会社ツー・エム化成 | Major shareholder | 1.3% | 2026-02-28 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第47期(2025/03/01－2026/02/28) | S100Y6G1 | 2026-05-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y6G1,, |
| 有価証券報告書－第46期(2024/03/01－2025/02/28) | S100VU3P | 2025-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VU3P,, |
| 有価証券報告書－第45期(2023/03/01－2024/02/29) | S100TI3C | 2024-05-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TI3C,, |
| 訂正有価証券報告書－第44期(2022/03/01－2023/02/28) | S100RAP7 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAP7,, |
| 有価証券報告書－第43期(令和3年3月1日－令和4年2月28日) | S100O5DI | 2022-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O5DI,, |
| 有価証券報告書－第42期(令和2年3月1日－令和3年2月28日) | S100LFVX | 2021-05-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LFVX,, |

## 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).