# LOBTEX.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143期(2025/04/01－2026/03/31) (S100YGO7)
> Page: https://vizora.meequs.com/en/company/lobtex
> Retrieved: 2026-09-30T22:08:13.716Z

## Company

Lobtex., founded in 1923, is a company in Machine Tools listed on TSE Standard. It has 186 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | LOBTEX CO., LTD. |
| Ticker | 5969 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5969.T) |
| Listing | TSE Standard |
| Head office | 大阪府東大阪市四条町12番8号 |
| Representative (per filing) | 代表取締役社長 地引 俊爲 |
| Founded | Aug 1923 |
| Share capital | ¥960M |
| Employees (consolidated) | 186 |
| Average salary (parent only) | ¥6.1M |
| Fiscal year end | March |
| Website | www.lobtex.co.jp (https://www.lobtex.co.jp/) |
| Corporate number | 8122001008085 |
| EDINET | E01403 |
| Industries (Vizora) | Machine Tools, Theme Parks & Leisure Facilities |

> Profile source: annual securities report (S100YGO7, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 19.1 | 34 |
| Profitability | 16.2 | 34 |
| Cash conversion | 33.9 | 31 |
| Efficiency | 72.1 | 34 |

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 96% of Lobtex.'s sales come from Metal products, with Leisure making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +0.1% from the prior year, operating profit -11.5%.

## Company structure

- Segment revenue mix: Metal products 95.7%、Leisure 4.3%
- Revenue → net income: ¥5711753000 → ¥122811000
- Net income → operating cash flow: ¥122811000 → ¥205136000（difference ¥82325000）
- Main uses of operating cash flow: CapEx ¥55029000 / dividends ¥56022000 / buybacks —
- Change in cash: ¥-312186000
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 | ¥5.71B |  |
| Operating income | ¥182.2M | Margin 3.2% |
| Net income | ¥122.8M | Margin 2.2% |
| Free cash flow | ¥150.1M |  |
| Largest business | Metal products | of segment revenue 95.7% |
| Employees (consolidated) | 186 |  |
| EPS | ¥87.84 |  |
| Book value per share | ¥2315.82 |  |
| Equity ratio | 58.9% |  |
| Shares outstanding | 2,000,000 |  |
| Treasury shares | 132,600 |  |
| Shareholders | 898 |  |
| Average salary (parent only) | ¥6.1M | Filing company only |
| Cash ratio | 19.6% | Cash ÷ revenue 28.9% |
| Vs. industry median margin | -3.9 pp | Machine Tools |
| ROE | 2.7% | Derived from disclosed figures |
| ROA | 1.4% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 63% of positive segment profit
- FY2026, segment profit share differs by 59 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5307011000 | ¥5711753000 | +7.6% |
| Operating income | ¥263751000 | ¥182161000 | -30.9% |
| Operating margin | 5.0% | 3.2% | -1.8 pp |
| Employees | 199 people | 186 people | -6.5% |
| Cash and equivalents | ¥2193062000 | ¥1649110000 | -24.8% |

### 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 |
| --- | ---: |
| 金属製品事業 → 金属製品事業 | 95.0% |
| レジャー事業 → レジャー事業 | 4.3% |
| レジャー事業 → 事業再編・廃止 | 0.7% |
| 新設・再編 → 金属製品事業 | 0.7% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,712 | 100.0% | S100YGO7 |
| Cost of revenue | 4,007 | 70.2% | S100YGO7 |
| Gross profit | 1,704 | 29.8% | S100YGO7 |
| SG&A | 1,522 | 26.7% | S100YGO7 |
| Operating income | 182 | 3.2% | S100YGO7 |
| Ordinary income | 191 | 3.3% | S100YGO7 |
| Pretax income | 191 | 3.3% | S100YGO7 |
| Income tax | 68 | 1.2% | S100YGO7 |
| Net income | 123 | 2.2% | S100YGO7 |
| Net income attributable to owners | 123 | 2.2% | S100YGO7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 70 |
| SG&A | 27 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 29.8% → Operating margin 3.2% → Net margin 2.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +0.1%; Core profit growth: -11.5%
Growth quality: revenue-led
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 | 5,709 | 5,712 | 3 | +0.1% |
| Gross profit | 1,706 | 1,704 | -2 | -0.1% |
| Operating income | 206 | 182 | -24 | -11.5% |
| Net income attributable to owners | 77 | 123 | 46 | +58.9% |
| Operating cash flow | 289 | 205 | -84 | -29.1% |
| Free cash flow | 164 | 150 | -14 | -8.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 5,673 | 238 | 4.2% | 47 | 382 | 143 | S100LMZF |
| FY ending Mar 2021 | 5,307 | 264 | 5.0% | 186 | 537 | 488 | S100ODCI |
| FY ending Mar 2022 | 6,100 | 384 | 6.3% | 225 | 823 | 759 | S100R5XO |
| FY ending Mar 2023 | 5,951 | 485 | 8.1% | 315 | 28 | -64 | S100TOMO |
| FY ending Mar 2024 | 5,925 | 354 | 6.0% | 280 | 144 | -198 | S100W34X |
| FY ending Mar 2025 | 5,709 | 206 | 3.6% | 77 | 289 | 164 | S100YGO7 |
| FY ending Mar 2026 | 5,712 | 182 | 3.2% | 123 | 205 | 150 | S100YGO7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥30.7M |
| Operating income per employee (consolidated) | ¥979.4K |
| Net income per employee (consolidated) | ¥660.3K |

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) | 191 | 192 | 190 | 186 | 186 |
| Average salary (parent company) | ¥6M | ¥6.1M | ¥6M | ¥5.9M | ¥6.1M |
| Average age (parent company) | 43.4 years | 43.4 years | 43.8 years | 44.2 years | 44.8 years |
| Average tenure (parent company) | 17.6 years | 15.3 years | 15.9 years | 15.9 years | 16.8 years |

Year over year: Employees (consolidated) 0.0% · Revenue (consolidated) +0.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Metal products | 5,468 | 95.7% | 67 | 1.2% |
| Leisure | 244 | 4.3% | 115 | 47.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Metal products | 95.7% | 37.0% | -58.7 | 1.2% |
| Leisure | 4.3% | 63.0% | 58.7 | 47.0% |

Segment → industry: Metal products → Machine Tools / Leisure → Theme Parks & Leisure Facilities

## 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 | 205 | 3.6% | S100YGO7 |
| Capital expenditure | 55 | 1.0% | S100YGO7 |
| Free cash flow | 150 | 2.6% | 算出 |
| Investing cash flow | -66 | -1.2% | S100YGO7 |
| Financing cash flow | -452 | -7.9% | S100YGO7 |
| Dividends paid | 56 | 1.0% | S100YGO7 |
| Change in cash | -312 | -5.5% | S100YGO7 |
| Cash and equivalents | 1,649 | 28.9% | S100YGO7 |

## 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 | 2,531 | 2,604 | 2,465 | 1,961 | 1,649 | S100TOMO, S100W34X, S100YGO7 |
| Total assets | 8,308 | 8,773 | 9,284 | 8,611 | 8,418 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Net assets | 4,467 | 4,751 | 5,096 | 4,842 | 4,962 | S100TOMO, S100W34X, S100YGO7 |
| Share capital | 960 | 960 | 960 | 960 | 960 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Property, plant and equipment | 1,919 | 1,897 | 2,040 | 1,949 | 1,814 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Intangible assets excluding goodwill | 35 | 28 | 30 | 30 | 30 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Investment securities | 473 | 505 | 668 | 657 | 746 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Current assets | 5,653 | 6,094 | 6,286 | 5,758 | 5,598 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Current liabilities | 2,451 | 2,477 | 2,518 | 2,252 | 2,298 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Short-term borrowings | 1,493 | 1,596 | 1,676 | 1,516 | 1,520 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Long-term borrowings | 1,174 | 1,354 | 1,469 | 1,333 | 973 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Total liabilities | 3,841 | 4,023 | 4,188 | 3,769 | 3,456 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Non-controlling interests | 226 | 235 | 252 | — | — | S100R5XO, S100TOMO, S100W34X |
| Equity attributable to owners of parent | 4,072 | 4,330 | 4,554 | 4,569 | 4,635 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Retained earnings | 2,785 | 3,044 | 3,268 | 3,280 | 3,346 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |
| Treasury stock | -164 | -165 | -165 | -165 | -165 | S100R5XO, S100TOMO, S100W34X, S100YGO7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YGO7 |
| Property, plant and equipment | 21% | S100YGO7 |
| Intangibles and goodwill | 0% | S100YGO7 |
| Investment securities | 9% | S100YGO7 |
| Other assets | 50% | S100YGO7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 41% | S100YGO7 |
| Equity | 59% | S100YGO7 |

### 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 | 8,308 | 8,773 | 9,284 | 8,611 | 8,418 |
| Equity | 4,467 | 4,751 | 5,096 | 4,842 | 4,962 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,531 | 2,604 | 2,465 | 1,961 | 1,649 |

## 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) | 31.8% | S100YGO7 |
| Fixed assets ÷ total assets | 21.6% | S100YGO7 |
| Goodwill ÷ parent equity | — | —, S100YGO7 |

### 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) | 19.6% |
| Cash ÷ revenue | 28.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 112.6% |
| Cash vs. profit gap | 82 JPY mn (of net income 67.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 45.6% |
| Shareholder payments — dividends / FCF | 37.3% |
| CapEx intensity (capex ÷ revenue) | 1.0% |
| Investing CF relative to operating CF | 32.2% |

## 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 | 3.7% | 0.73× | 2.7% | 2.04× | 5.5% | S100R5XO |
| 2023 | 5.3% | 0.70× | 3.7% | 2.03× | 7.5% | S100TOMO |
| 2024 | 4.7% | 0.66× | 3.1% | 2.03× | 6.3% | S100W34X |
| 2025 | 1.4% | 0.64× | 0.9% | 1.96× | 1.7% | S100YGO7 |
| 2026 | 2.2% | 0.67× | 1.4% | 1.85× | 2.7% | S100YGO7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ニッセンリベット㈱ | Major shareholder | 10.7% | 2026-03-31 |
| 日栄会 | Major shareholder | 8.7% | 2026-03-31 |
| ㈲ヤマチ | Major shareholder | 5.7% | 2026-03-31 |
| 日理会 | Major shareholder | 5.5% | 2026-03-31 |
| ロブテックス従業員持株会 | Major shareholder | 5.2% | 2026-03-31 |
| ㈱三井住友銀行 | Major shareholder | 5.0% | 2026-03-31 |
| 地引 俊爲 | Major shareholder | 3.6% | 2026-03-31 |
| ㈱南都銀行 | Major shareholder | 2.1% | 2026-03-31 |
| ㈱山善 | Major shareholder | 1.8% | 2026-03-31 |
| 稲垣 貞男 | Major shareholder | 1.7% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第143期(2025/04/01－2026/03/31) | S100YGO7 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGO7,, |
| 有価証券報告書－第142期(2024/04/01－2025/03/31) | S100W34X | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W34X,, |
| 有価証券報告書－第141期(2023/04/01－2024/03/31) | S100TOMO | 2024-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TOMO,, |
| 有価証券報告書－第140期(2022/04/01－2023/03/31) | S100R5XO | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5XO,, |
| 有価証券報告書－第139期(令和3年4月1日－令和4年3月31日) | S100ODCI | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODCI,, |
| 有価証券報告書－第138期(令和2年4月1日－令和3年3月31日) | S100LMZF | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMZF,, |

## 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).