# Mito Securities Co., Ltd.: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第81期(2025/04/01－2026/03/31) (S100YDIT)
> Page: https://vizora.meequs.com/en/company/mito-securities
> Retrieved: 2026-09-30T21:33:55.024Z

## Company

Mito Securities, founded in 1951, is a company in Securities & Asset Management listed on TSE Prime. It has 753 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Mito Securities Co., Ltd. |
| Ticker | 8622 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8622.T) |
| Listing | TSE Prime |
| Head office | 東京都文京区小石川一丁目1番1号 |
| Representative (per filing) | 代表取締役社長 小林克徳 |
| Founded | Jun 1951 |
| Share capital | ¥12.3B |
| Employees (consolidated) | 753 |
| Average salary (parent only) | ¥7.5M |
| Fiscal year end | March |
| Website | www.mito.co.jp (https://www.mito.co.jp/) |
| Corporate number | 6010001058238 |
| EDINET | E03762 |
| Industries (Vizora) | Securities & Asset Management |

> Profile source: annual securities report (S100YDIT, filed 2026-06-18). As of filing

## Key points (generated from figures)

- Mito Securities brought in ¥16.1B in revenue.
- Out of every ¥100 of sales, about ¥20 is left as operating profit.
- Revenue changed +15.0% from the prior year, operating profit +69.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥16074000000 → ¥3095000000
- Net income → operating cash flow: ¥3095000000 → ¥3928000000（difference ¥833000000）
- Main uses of operating cash flow: CapEx ¥490000000 / dividends ¥1848000000 / buybacks ¥1101000000
- Change in cash: ¥1199000000
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 | ¥16.1B |  |
| Operating income | ¥3.15B | Margin 19.6% |
| Net income | ¥3.1B | Margin 19.3% |
| Free cash flow | ¥3.44B |  |
| Employees (consolidated) | 753 |  |
| EPS | ¥51.29 |  |
| Book value per share | ¥710.2 |  |
| Equity ratio | 58.5% |  |
| Shares outstanding | 65,689,000 |  |
| Treasury shares | 4,981,800 |  |
| Shareholders | 15,849 |  |
| Average salary (parent only) | ¥7.5M | Filing company only |
| Cash ratio | 35.5% | Cash ÷ revenue 161.7% |
| Vs. industry median margin | -1.2 pp | Securities & Asset Management |
| ROE | 9.0% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2026, cash is 36% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥15366000000 | ¥16074000000 | +4.6% |
| Operating income | ¥2817000000 | ¥3146000000 | +11.7% |
| Operating margin | 18.3% | 19.6% | +1.2 pp |
| Employees | 723 people | 753 people | +4.1% |
| Cash and equivalents | ¥25125000000 | ¥25991000000 | +3.4% |

### 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, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 16,074 | 100.0% | S100YDIT |
| SG&A | 12,851 | 79.9% | S100YDIT |
| Operating income | 3,146 | 19.6% | S100YDIT |
| Ordinary income | 3,598 | 22.4% | S100YDIT |
| Pretax income | 4,265 | 26.5% | S100YDIT |
| Income tax | 1,169 | 7.3% | S100YDIT |
| Net income | 3,095 | 19.3% | S100YDIT |

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

| Part | JPY |
| --- | ---: |
| Operating expenses | 80 |
| Operating income | 20 |
| (Ref.) Net income | 19 |

### Margin funnel

Operating margin 19.6% → Net margin 19.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +15.0%; Core profit growth: +69.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.64×
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 | 13,983 | 16,074 | 2,091 | +15.0% |
| Operating income | 1,858 | 3,146 | 1,288 | +69.3% |
| Operating cash flow | -467 | 3,928 | 4,395 | — |
| Free cash flow | -607 | 3,438 | 4,045 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 11,946 | 7 | 0.1% | 791 | 1,107 | 575 | S100U9OD |
| FY ending Mar 2021 | 15,366 | 2,817 | 18.3% | 1,868 | 2,278 | 2,059 | S100XSEG |
| FY ending Mar 2022 | 13,683 | 1,523 | 11.1% | 1,389 | -721 | -987 | S100YDIT |
| FY ending Mar 2023 | 11,196 | -268 | -2.4% | 773 | -42 | -936 | S100YDIT |
| FY ending Mar 2024 | 14,554 | 2,391 | 16.4% | 2,336 | 6,920 | 6,826 | S100YDIT |
| FY ending Mar 2025 | 13,983 | 1,858 | 13.3% | 2,420 | -467 | -607 | S100YDIT |
| FY ending Mar 2026 | 16,074 | 3,146 | 19.6% | 3,095 | 3,928 | 3,438 | S100YDIT |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥21.3M |
| Operating income per employee (consolidated) | ¥4.2M |
| Net income per employee (consolidated) | ¥4.1M |

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) | 752 | 737 | 726 | 740 | 753 |
| Average salary (parent company) | ¥6.7M | ¥6.7M | ¥6.5M | ¥6.8M | ¥7.5M |
| Average age (parent company) | 43.4 years | 43.6 years | 43.4 years | 42.3 years | 41.9 years |
| Average tenure (parent company) | 18.0 years | 18.3 years | 18.3 years | 17.4 years | 16.9 years |

Year over year: Employees (consolidated) +1.8% · Revenue (consolidated) +15.0%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 3,928 | 24.4% | S100YDIT |
| Capital expenditure | 490 | 3.0% | S100YDIT |
| Free cash flow | 3,438 | 21.4% | 算出 |
| Investing cash flow | 89 | 0.6% | S100YDIT |
| Financing cash flow | -2,958 | -18.4% | S100YDIT |
| Dividends paid | 1,848 | 11.5% | S100YDIT |
| Share buyback | 1,101 | 6.8% | S100YDIT |
| Change in cash | 1,199 | 7.5% | S100YDIT |
| Cash and equivalents | 25,991 | 161.7% | S100YDIT |

## 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 | 22,723 | 21,958 | 28,011 | 24,791 | 25,991 | S100U9OD, S100XSEG, S100YDIT |
| Total assets | 64,511 | 61,564 | 74,033 | 63,480 | 73,161 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Net assets | 39,071 | 39,024 | 42,827 | 40,097 | 42,778 | S100U9OD, S100XSEG, S100YDIT |
| Share capital | 12,272 | 12,272 | 12,272 | 12,272 | 12,272 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Property, plant and equipment | 3,339 | 3,945 | 3,742 | 3,592 | 3,717 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Intangible assets excluding goodwill | 320 | 257 | 187 | 141 | 385 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Investment securities | 11,196 | 8,242 | 14,950 | 12,602 | 15,489 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Current assets | 48,766 | 48,424 | 54,446 | 46,500 | 52,875 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Current liabilities | 20,390 | 18,710 | 25,861 | 19,363 | 25,461 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Short-term borrowings | 1,950 | 2,750 | 2,750 | 2,750 | 2,750 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Long-term borrowings | 800 | — | — | — | — | S100R50T |
| Total liabilities | 25,439 | 22,540 | 31,205 | 23,383 | 30,383 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Equity attributable to owners of parent | 34,680 | 35,126 | 35,509 | 34,265 | 34,876 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Retained earnings | 17,778 | 18,031 | 18,413 | 18,959 | 20,203 | S100R50T, S100U9OD, S100XSEG, S100YDIT |
| Treasury stock | -1,635 | -1,442 | -1,441 | -1,943 | -2,576 | S100R50T, S100U9OD, S100XSEG, S100YDIT |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 35% | S100YDIT |
| Property, plant and equipment | 5% | S100YDIT |
| Intangibles and goodwill | 1% | S100YDIT |
| Investment securities | 21% | S100YDIT |
| Other assets | 38% | S100YDIT |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 42% | S100YDIT |
| Equity | 58% | S100YDIT |

### 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 | 64,511 | 61,564 | 74,033 | 63,480 | 73,161 |
| Equity | 39,071 | 39,024 | 42,827 | 40,097 | 42,778 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 22,723 | 21,958 | 28,011 | 24,791 | 25,991 |

## 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) | 23.1% | S100YDIT |
| Fixed assets ÷ total assets | 5.1% | S100YDIT |
| Goodwill ÷ parent equity | — | —, S100YDIT |

### 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) | 35.5% |
| Cash ÷ revenue | 161.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 124.9% |
| Cash vs. profit gap | 833 JPY mn (of net income 26.9%) |
| Shareholder returns / net income | 95.3% |
| Shareholder returns / FCF | 85.8% |
| Shareholder payments — dividends / net income | 59.7% |
| Shareholder payments — dividends / FCF | 53.8% |
| CapEx intensity (capex ÷ revenue) | 3.0% |
| Investing CF relative to operating CF | 2.3% |

## 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 | 10.2% | 0.21× | 2.2% | 1.86× | 4.0% | S100R50T, S100YDIT |
| 2023 | 6.9% | 0.18× | 1.2% | 1.81× | 2.2% | S100U9OD, S100YDIT |
| 2024 | 16.1% | 0.21× | 3.4% | 1.92× | 6.6% | S100XSEG, S100YDIT |
| 2025 | 17.3% | 0.20× | 3.5% | 1.97× | 6.9% | S100YDIT |
| 2026 | 19.3% | 0.24× | 4.5% | 1.98× | 9.0% | S100YDIT |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 10.1% | 2026-03-31 |
| 株式会社野村総合研究所 | Major shareholder | 9.2% | 2026-03-31 |
| 小林協栄株式会社 | Major shareholder | 5.4% | 2026-03-31 |
| 株式会社常陽銀行 | Major shareholder | 4.6% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 3.3% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.6% | 2026-03-31 |
| 株式会社武蔵野銀行 | Major shareholder | 1.9% | 2026-03-31 |
| 第一生命保険株式会社 | Major shareholder | 1.7% | 2026-03-31 |
| 小林克徳 | Major shareholder | 1.5% | 2026-03-31 |
| 住友不動産株式会社 | Major shareholder | 1.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第81期(2025/04/01－2026/03/31) | S100YDIT | 2026-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDIT,, |
| 訂正有価証券報告書－第80期(2024/04/01－2025/03/31) | S100XSEG | 2026-03-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XSEG,, |
| 訂正有価証券報告書－第79期(2023/04/01－2024/03/31) | S100U9OD | 2024-08-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100U9OD,, |
| 有価証券報告書－第78期(2022/04/01－2023/03/31) | S100R50T | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R50T,, |
| 有価証券報告書－第77期(令和3年4月1日－令和4年3月31日) | S100OHCJ | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHCJ,, |
| 有価証券報告書－第76期(令和2年4月1日－令和3年3月31日) | S100LQAF | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQAF,, |

## 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).