# MICRON MACHINERY CO., LTD.: business model and financials

> Latest period: FY ending Aug 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第66期(2024/09/01－2025/08/31) (S100X5M8)
> Page: https://vizora.meequs.com/en/company/micron-machinery
> Retrieved: 2026-09-30T21:38:10.098Z

## Company

Micron Machinery, founded in 1961, is a company in Machine Tools listed on TSE Standard. It has 229 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | MICRON MACHINERY CO., LTD. |
| Ticker | 6159 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6159.T) |
| Listing | TSE Standard |
| Head office | 山形県山形市蔵王上野578番地の2 |
| Representative (per filing) | 代表取締役社長 榊原 憲二 |
| Founded | Oct 1961 |
| Share capital | ¥651.4M |
| Employees (consolidated) | 229 |
| Average salary (parent only) | ¥5.3M |
| Fiscal year end | August |
| Website | www.micron-grinder.co.jp (https://www.micron-grinder.co.jp/) |
| Corporate number | 1390001001841 |
| EDINET | E02478 |
| Industries (Vizora) | Machine Tools |

> Profile source: annual securities report (S100X5M8, filed 2025-11-20). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2025-08-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 16.2 | 34 |
| Profitability | 75 | 34 |
| Cash conversion | 91.9 | 31 |
| Efficiency | 10.3 | 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)

- Micron Machinery brought in ¥5.78B in revenue.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +23.1% from the prior year, operating profit +59.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥5782372000 → ¥776835000
- Net income → operating cash flow: ¥776835000 → ¥1742324000（difference ¥965489000）
- Main uses of operating cash flow: CapEx ¥193134000 / dividends ¥45457000 / buybacks ¥364539000
- Change in cash: ¥1279019000
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 | ¥5.78B |  |
| Operating income | ¥612.4M | Margin 10.6% |
| Net income | ¥782.9M | Margin 13.5% |
| Free cash flow | ¥1.55B |  |
| Employees (consolidated) | 229 |  |
| EPS | ¥144.86 |  |
| Book value per share | ¥2695.37 |  |
| Equity ratio | 87.4% |  |
| Shares outstanding | 7,706,000 |  |
| Treasury shares | 2,765,300 |  |
| Shareholders | 758 |  |
| Average salary (parent only) | ¥5.3M | Filing company only |
| Cash ratio | 50.1% | Cash ÷ revenue 134.8% |
| Vs. industry median margin | +3.5 pp | Machine Tools |
| ROE | 6.3% | Derived from disclosed figures |
| ROA | 5.1% | Derived from disclosed figures |

## Notable figures

- FY2025, buybacks were 8.0× dividends
- FY2025, operating cash flow is 2.2× net income
- FY2025, employees -4% while operating income rose 60%

## What changed in 5 years

| Metric | FY ending Aug 2020 | FY ending Aug 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5416990000 | ¥5782372000 | +6.7% |
| Operating income | ¥583283000 | ¥612384000 | +5.0% |
| Operating margin | 10.8% | 10.6% | -0.2 pp |
| Employees | 246 people | 229 people | -6.9% |
| Cash and equivalents | ¥3298450000 | ¥7792139000 | +136.2% |

### Change in segment revenue mix

Span: FY ending Aug 2020 → FY ending Aug 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Aug 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,782 | 100.0% | S100X5M8 |
| Cost of revenue | 3,692 | 63.8% | S100X5M8 |
| Gross profit | 2,091 | 36.2% | S100X5M8 |
| SG&A | 1,478 | 25.6% | S100X5M8 |
| Operating income | 612 | 10.6% | S100X5M8 |
| Ordinary income | 1,119 | 19.4% | S100X5M8 |
| Pretax income | 1,110 | 19.2% | S100X5M8 |
| Income tax | 333 | 5.8% | S100X5M8 |
| Net income | 777 | 13.4% | S100X5M8 |
| Net income attributable to owners | 783 | 13.5% | S100X5M8 |

## Per ¥100 of revenue（FY ending Aug 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 25 |
| Operating income | 11 |
| (Ref.) Net income | 14 |

### Margin funnel

Gross margin 36.2% → Operating margin 10.6% → Net margin 13.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +23.1%; Core profit growth: +59.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.60×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Aug 2024 → FY ending Aug 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 4,699 | 5,782 | 1,083 | +23.1% |
| Gross profit | 1,766 | 2,091 | 325 | +18.4% |
| Operating income | 383 | 612 | 229 | +59.9% |
| Net income attributable to owners | 484 | 783 | 299 | +61.7% |
| Operating cash flow | 47 | 1,742 | 1,695 | +3606.0% |
| Free cash flow | -209 | 1,549 | 1,758 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Aug 2019 | 6,760 | 1,004 | 14.8% | 660 | 1,347 | 1,028 | S100K8DU |
| FY ending Aug 2020 | 5,417 | 583 | 10.8% | 433 | 474 | 286 | S100MWJU |
| FY ending Aug 2021 | 4,010 | 290 | 7.2% | 461 | 1,501 | 1,386 | S100PP0E |
| FY ending Aug 2022 | 5,202 | 377 | 7.3% | 1,226 | 387 | 251 | S100SCK7 |
| FY ending Aug 2023 | 5,181 | 446 | 8.6% | 868 | 929 | 693 | S100UTSZ |
| FY ending Aug 2024 | 4,699 | 383 | 8.1% | 484 | 47 | -209 | S100X5M8 |
| FY ending Aug 2025 | 5,782 | 612 | 10.6% | 783 | 1,742 | 1,549 | S100X5M8 |

## People and productivity（FY ending Aug 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥25.3M |
| Operating income per employee (consolidated) | ¥2.7M |
| Net income per employee (consolidated) | ¥3.4M |

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

| History | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 246 | 235 | 236 | 239 | 229 |
| Average salary (parent company) | ¥4.5M | ¥5.4M | ¥5.4M | ¥5M | ¥5.3M |
| Average age (parent company) | 42.4 years | 44.0 years | 43.9 years | 44.2 years | 45.1 years |
| Average tenure (parent company) | 16.9 years | 17.7 years | 17.9 years | 18.4 years | 18.5 years |

Year over year: Employees (consolidated) -4.2% · Revenue (consolidated) +23.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Aug 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 1,742 | 30.1% | S100X5M8 |
| Capital expenditure | 193 | 3.3% | S100X5M8 |
| Free cash flow | 1,549 | 26.8% | 算出 |
| Investing cash flow | -143 | -2.5% | S100X5M8 |
| Financing cash flow | -387 | -6.7% | S100X5M8 |
| Dividends paid | 45 | 0.8% | S100X5M8 |
| Share buyback | 365 | 6.3% | S100X5M8 |
| Change in cash | 1,279 | 22.1% | S100X5M8 |
| Cash and equivalents | 7,792 | 134.8% | S100X5M8 |

## 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 Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,570 | 6,250 | 7,439 | 6,513 | 7,792 | S100SCK7, S100UTSZ, S100X5M8 |
| Total assets | 13,246 | 14,728 | 15,629 | 15,120 | 15,565 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Net assets | 11,928 | 13,261 | 14,017 | 13,185 | 13,633 | S100SCK7, S100UTSZ, S100X5M8 |
| Share capital | 651 | 651 | 651 | 651 | 651 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Trade receivables | 496 | 1,015 | 561 | 1,154 | 805 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Property, plant and equipment | 2,852 | 2,734 | 2,710 | 2,674 | 2,582 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Intangible assets excluding goodwill | 8 | 14 | 20 | 15 | 10 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Investment securities | 1,866 | 2,095 | 1,714 | 1,755 | 1,831 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Current assets | 8,414 | 9,792 | 11,093 | 10,585 | 11,054 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Current liabilities | 1,063 | 1,176 | 1,214 | 1,500 | 1,474 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Short-term borrowings | — | — | 409 | 306 | 329 | S100UTSZ, S100X5M8 |
| Total liabilities | 1,318 | 1,468 | 1,612 | 1,935 | 1,931 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Non-controlling interests | 30 | 35 | 32 | 35 | 31 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Equity attributable to owners of parent | 11,443 | 12,579 | 13,174 | 12,262 | 12,639 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Retained earnings | 11,578 | 12,755 | 13,574 | 14,012 | 14,750 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |
| Treasury stock | -1,496 | -1,536 | -1,834 | -3,184 | -3,544 | S100PP0E, S100SCK7, S100UTSZ, S100X5M8 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 50% | S100X5M8 |
| Receivables | 5% | S100X5M8 |
| Property, plant and equipment | 17% | S100X5M8 |
| Intangibles and goodwill | 0% | S100X5M8 |
| Investment securities | 12% | S100X5M8 |
| Other assets | 16% | S100X5M8 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 12% | S100X5M8 |
| Equity | 88% | S100X5M8 |

### Balance sheet history

| Metric | FY ending Aug 2021 | FY ending Aug 2022 | FY ending Aug 2023 | FY ending Aug 2024 | FY ending Aug 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 13,246 | 14,728 | 15,629 | 15,120 | 15,565 |
| Equity | 11,928 | 13,261 | 14,017 | 13,185 | 13,633 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,570 | 6,250 | 7,439 | 6,513 | 7,792 |

## 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) | 44.7% | S100X5M8 |
| Fixed assets ÷ total assets | 16.6% | S100X5M8 |
| Goodwill ÷ parent equity | — | —, S100X5M8 |

### 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) | 50.1% |
| Cash ÷ revenue | 134.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 284.5% |
| Cash vs. profit gap | 959 JPY mn (of net income 122.5%) |
| Shareholder returns / net income | 52.4% |
| Shareholder returns / FCF | 26.5% |
| Shareholder payments — dividends / net income | 5.8% |
| Shareholder payments — dividends / FCF | 2.9% |
| CapEx intensity (capex ÷ revenue) | 3.3% |
| Investing CF relative to operating CF | 8.2% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 11.5% | 0.30× | 3.5% | 1.16× | 4.0% | S100PP0E |
| 2022 | 23.6% | 0.37× | 8.8% | 1.16× | 10.2% | S100SCK7 |
| 2023 | 16.8% | 0.34× | 5.7% | 1.18× | 6.7% | S100UTSZ |
| 2024 | 10.3% | 0.31× | 3.1% | 1.21× | 3.8% | S100X5M8 |
| 2025 | 13.5% | 0.38× | 5.1% | 1.23× | 6.3% | S100X5M8 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ミクロン精密社員持株会 | Major shareholder | 20.1% | 2025-08-31 |
| ミクロン精密取引先持株会 | Major shareholder | 6.3% | 2025-08-31 |
| 榊原 憲二 | Major shareholder | 6.1% | 2025-08-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.0% | 2025-08-31 |
| 株式会社山形銀行 | Major shareholder | 4.7% | 2025-08-31 |
| 日本生命保険相互会社 | Major shareholder | 4.6% | 2025-08-31 |
| 白田 啓 | Major shareholder | 2.6% | 2025-08-31 |
| 榊原 誠 | Major shareholder | 1.8% | 2025-08-31 |
| 株式会社日進製作所グループ | Major shareholder | 1.6% | 2025-08-31 |
| 株式会社大山商店 | Major shareholder | 1.3% | 2025-08-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第66期(2024/09/01－2025/08/31) | S100X5M8 | 2025-11-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100X5M8,, |
| 有価証券報告書－第65期(2023/09/01－2024/08/31) | S100UTSZ | 2024-11-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UTSZ,, |
| 有価証券報告書－第64期(2022/09/01－2023/08/31) | S100SCK7 | 2023-11-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SCK7,, |
| 有価証券報告書－第63期(令和3年9月1日－令和4年8月31日) | S100PP0E | 2022-11-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PP0E,, |
| 有価証券報告書－第62期(令和2年9月1日－令和3年8月31日) | S100MWJU | 2021-11-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MWJU,, |
| 有価証券報告書－第61期(令和1年9月1日－令和2年8月31日) | S100K8DU | 2020-11-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100K8DU,, |

## 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).