# MISUMI 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70期(2025/04/01－2026/03/31) (S100YHK6)
> Page: https://vizora.meequs.com/en/company/misumi
> Retrieved: 2026-09-30T17:54:04.434Z

## Company

Misumi, founded in 1959, is a company in Electric Power & Gas listed on Fukuoka. It has 662 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | MISUMI CO., LTD. |
| Ticker | 7441 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7441.T) |
| Listing | Fukuoka |
| Head office | 鹿児島県鹿児島市卸本町7番地20 |
| Representative (per filing) | 代表取締役社長 平田 慶介 |
| Founded | Feb 1959 |
| Share capital | ¥1.69B |
| Employees (consolidated) | 662 |
| Average salary (parent only) | ¥4M |
| Fiscal year end | March |
| Website | kk-misumi.jp (https://kk-misumi.jp/) |
| Corporate number | 4340001004160 |
| EDINET | E02813 |
| Industries (Vizora) | Electric Power & Gas, Oil Refining & Fuels, Publishing & Bookstores, Fast Food & Quick Service |

> Profile source: annual securities report (S100YHK6, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Oil Refining & Fuels (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 22.7 | 11 |
| Profitability | 34.6 | 13 |
| Cash conversion | 86.4 | 11 |
| Efficiency | 57.7 | 13 |

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 75% of Misumi's sales come from Energy, with Lifestyle and Food and beverage making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed -3.7% from the prior year, operating profit +18.7%.

## Company structure

- Segment revenue mix: Energy 74.8%、Lifestyle 12.7%、Food and beverage 12.5%
- Revenue → net income: ¥60036000000 → ¥832000000
- Net income → operating cash flow: ¥832000000 → ¥1955000000（difference ¥1123000000）
- Main uses of operating cash flow: CapEx ¥1589000000 / dividends ¥285000000 / buybacks ¥40000000
- Change in cash: ¥-521000000
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 | ¥60B |  |
| Operating income | ¥959M | Margin 1.6% |
| Net income | ¥839M | Margin 1.4% |
| Free cash flow | ¥366M |  |
| Largest business | Energy | of segment revenue 74.8% |
| Employees (consolidated) | 662 |  |
| EPS | ¥144.94 |  |
| Book value per share | ¥3683.93 |  |
| Equity ratio | 49.1% |  |
| Shares outstanding | 6,100,503 |  |
| Treasury shares | 418,700 |  |
| Shareholders | 384 |  |
| Average salary (parent only) | ¥4M | Filing company only |
| Cash ratio | 8.7% | Cash ÷ revenue 6.3% |
| Vs. industry median margin | -5.4 pp | Electric Power & Gas |
| ROE | 4.6% | Derived from disclosed figures |
| ROA | 2.0% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.3× net income

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥52496656000 | ¥60036000000 | +14.4% |
| Operating income | ¥1334945000 | ¥959000000 | -28.2% |
| Operating margin | 2.5% | 1.6% | -0.9 pp |
| Employees | 626 people | 662 people | +5.8% |
| Cash and equivalents | ¥3642490000 | ¥3791000000 | +4.1% |

### 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 |
| --- | ---: |
| エネルギー → エネルギー | 72.8% |
| ライフスタイル → ライフスタイル | 12.7% |
| ライフスタイル → 事業再編・廃止 | 2.7% |
| フード＆ビバレッジ → フード＆ビバレッジ | 11.8% |
| 新設・再編 → エネルギー | 2.0% |
| 新設・再編 → フード＆ビバレッジ | 0.7% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Energy | 5 years | +3.3% | ¥44930000000 | 2.4% | 2 |
| Lifestyle | 5 years | -1.1% | ¥7606000000 | 2.4% | 2 |
| Food and beverage | 5 years | +3.8% | ¥7500000000 | 7.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 60,036 | 100.0% | S100YHK6 |
| Cost of revenue | 46,707 | 77.8% | S100YHK6 |
| Gross profit | 13,328 | 22.2% | S100YHK6 |
| SG&A | 12,369 | 20.6% | S100YHK6 |
| Operating income | 959 | 1.6% | S100YHK6 |
| Ordinary income | 1,400 | 2.3% | S100YHK6 |
| Pretax income | 1,287 | 2.1% | S100YHK6 |
| Income tax | 455 | 0.8% | S100YHK6 |
| Net income | 832 | 1.4% | S100YHK6 |
| Net income attributable to owners | 839 | 1.4% | S100YHK6 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 21 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 22.2% → Operating margin 1.6% → Net margin 1.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -3.7%; Core profit growth: +18.7%
Operating leverage (core profit growth ÷ revenue growth): -5.00×
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 | 62,367 | 60,036 | -2,331 | -3.7% |
| Gross profit | 12,802 | 13,328 | 526 | +4.1% |
| Operating income | 808 | 959 | 151 | +18.7% |
| Net income attributable to owners | 1,037 | 839 | -198 | -19.1% |
| Operating cash flow | 896 | 1,955 | 1,059 | +118.2% |
| Free cash flow | -526 | 366 | 892 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 57,364 | 1,195 | 2.1% | 511 | 2,544 | 1,663 | S100LRFZ |
| FY ending Mar 2021 | 52,497 | 1,335 | 2.5% | 669 | 1,721 | 518 | S100OBUT |
| FY ending Mar 2022 | 61,267 | 928 | 1.5% | 485 | 1,365 | -342 | S100R52N |
| FY ending Mar 2023 | 63,792 | 795 | 1.2% | 673 | 1,144 | -1,088 | S100TV2O |
| FY ending Mar 2024 | 60,657 | 806 | 1.3% | 710 | 2,517 | 1,587 | S100WOOZ |
| FY ending Mar 2025 | 62,367 | 808 | 1.3% | 1,037 | 896 | -526 | S100YHK6 |
| FY ending Mar 2026 | 60,036 | 959 | 1.6% | 839 | 1,955 | 366 | S100YHK6 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥90.7M |
| Operating income per employee (consolidated) | ¥1.4M |
| Net income per employee (consolidated) | ¥1.3M |

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) | 652 | 645 | 648 | 648 | 662 |
| Average salary (parent company) | ¥4.3M | ¥4.4M | ¥4.5M | ¥4.6M | ¥4M |
| Average age (parent company) | 40.3 years | 40.9 years | 42.7 years | 42.7 years | 42.4 years |
| Average tenure (parent company) | 13.2 years | 14.9 years | 16.1 years | 15.9 years | 15.5 years |

Year over year: Employees (consolidated) +2.2% · Revenue (consolidated) -3.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Energy | 44,930 | 74.8% | 1,059 | 2.4% |
| Lifestyle | 7,606 | 12.7% | 181 | 2.4% |
| Food and beverage | 7,500 | 12.5% | 561 | 7.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Energy | 74.8% | 58.8% | -16.0 | 2.4% |
| Lifestyle | 12.7% | 10.0% | -2.6 | 2.4% |
| Food and beverage | 12.5% | 31.1% | 18.7 | 7.5% |

Segment → industry: Energy → Electric Power & Gas / Energy → Oil Refining & Fuels / Lifestyle → Publishing & Bookstores / Food and beverage → Fast Food & Quick Service

## 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 | 1,955 | 3.3% | S100YHK6 |
| Capital expenditure | 1,589 | 2.6% | S100YHK6 |
| Free cash flow | 366 | 0.6% | 算出 |
| Investing cash flow | -1,652 | -2.8% | S100YHK6 |
| Financing cash flow | -824 | -1.4% | S100YHK6 |
| Dividends paid | 285 | 0.5% | S100YHK6 |
| Share buyback | 40 | 0.1% | S100YHK6 |
| Change in cash | -521 | -0.9% | S100YHK6 |
| Cash and equivalents | 3,791 | 6.3% | S100YHK6 |

## 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 | 3,387 | 4,471 | 4,448 | 4,313 | 3,791 | S100TV2O, S100WOOZ, S100YHK6 |
| Total assets | 36,049 | 40,295 | 41,620 | 41,626 | 43,458 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Net assets | 17,430 | 18,007 | 19,417 | 19,992 | 21,654 | S100TV2O, S100WOOZ, S100YHK6 |
| Share capital | 1,691 | 1,691 | 1,691 | 1,690 | 1,690 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Property, plant and equipment | 16,947 | 18,814 | 18,739 | 19,246 | 19,967 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Intangible assets excluding goodwill | 327 | 1,557 | 1,339 | 1,170 | 994 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Goodwill | 105 | 1,391 | 1,233 | 1,056 | 893 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Investment securities | 2,586 | 2,670 | 4,204 | 3,980 | 5,729 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Current assets | 13,935 | 14,863 | 15,124 | 15,086 | 14,450 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Current liabilities | 12,498 | 13,010 | 13,469 | 13,806 | 13,707 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Trade payables | 3,258 | 2,683 | 3,014 | 3,058 | 2,812 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Short-term borrowings | 4,620 | 5,215 | 4,985 | 5,250 | 4,910 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Long-term borrowings | 4,245 | 7,339 | 6,367 | 5,958 | 5,610 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Total liabilities | 18,620 | 22,288 | 22,202 | 21,633 | 21,803 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Non-controlling interests | 298 | 319 | 314 | 321 | 311 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Equity attributable to owners of parent | 16,493 | 16,895 | 17,343 | 18,048 | 18,562 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Retained earnings | 13,738 | 14,180 | 14,660 | 15,411 | 15,965 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |
| Treasury stock | -583 | -623 | -655 | -699 | -740 | S100R52N, S100TV2O, S100WOOZ, S100YHK6 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 9% | S100YHK6 |
| Property, plant and equipment | 46% | S100YHK6 |
| Intangibles and goodwill | 4% | S100YHK6 |
| Investment securities | 13% | S100YHK6 |
| Other assets | 28% | S100YHK6 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YHK6 |
| Other liabilities | 44% | S100YHK6 |
| Equity | 50% | S100YHK6 |
| Other liabilities | 0% | S100YHK6 |

### 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 | 36,049 | 40,295 | 41,620 | 41,626 | 43,458 |
| Equity | 17,430 | 18,007 | 19,417 | 19,992 | 21,654 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,387 | 4,471 | 4,448 | 4,313 | 3,791 |

## 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) | 33.3% | S100YHK6 |
| Fixed assets ÷ total assets | 45.9% | S100YHK6 |
| Goodwill ÷ parent equity | 4.8% | S100YHK6 |

Goodwill over 4 years: 105 → 893 JPY; total investing cash flow: -9,553 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) | 8.7% |
| Cash ÷ revenue | 6.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 203.9% |
| Cash vs. profit gap | 1,116 JPY mn (of net income 133.0%) |
| Shareholder returns / net income | 38.7% |
| Shareholder returns / FCF | 88.8% |
| Shareholder payments — dividends / net income | 34.0% |
| Shareholder payments — dividends / FCF | 77.9% |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | 84.5% |

## 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 | 0.8% | 1.70× | 1.3% | 2.19× | 2.9% | S100R52N |
| 2023 | 1.1% | 1.67× | 1.8% | 2.29× | 4.0% | S100TV2O |
| 2024 | 1.2% | 1.48× | 1.7% | 2.39× | 4.1% | S100WOOZ |
| 2025 | 1.7% | 1.50× | 2.5% | 2.35× | 5.9% | S100YHK6 |
| 2026 | 1.4% | 1.41× | 2.0% | 2.32× | 4.6% | S100YHK6 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 三角開発㈱ | Major shareholder | 26.3% | 2026-03-31 |
| ＥＮＥＯＳホールディングス㈱ | Major shareholder | 13.7% | 2026-03-31 |
| 住友生命保険(相) | Major shareholder | 5.8% | 2026-03-31 |
| ㈱鹿児島銀行 | Major shareholder | 5.0% | 2026-03-31 |
| ㈱三井住友銀行 | Major shareholder | 5.0% | 2026-03-31 |
| ＴＯＹＯ ＴＩＲＥ㈱ | Major shareholder | 3.2% | 2026-03-31 |
| ミスミ取引先持株会 | Major shareholder | 3.1% | 2026-03-31 |
| ㈱商工組合中央金庫 | Major shareholder | 3.0% | 2026-03-31 |
| ㈱福岡銀行 | Major shareholder | 2.5% | 2026-03-31 |
| 損害保険ジャパン㈱ | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第70期(2025/04/01－2026/03/31) | S100YHK6 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHK6,, |
| 訂正有価証券報告書－第69期(2024/04/01－2025/03/31) | S100WOOZ | 2025-09-12 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WOOZ,, |
| 有価証券報告書－第68期(2023/04/01－2024/03/31) | S100TV2O | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TV2O,, |
| 有価証券報告書－第67期(2022/04/01－2023/03/31) | S100R52N | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R52N,, |
| 有価証券報告書－第66期(令和3年4月1日－令和4年3月31日) | S100OBUT | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBUT,, |
| 有価証券報告書－第65期(令和2年4月1日－令和3年3月31日) | S100LRFZ | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LRFZ,, |

## 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).