# Moriya Transportation Engineering and Manufacturing 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79期(2025/04/01－2026/03/31) (S100YGR0)
> Page: https://vizora.meequs.com/en/company/moriya-transportation-engineering-and-manufacturing
> Retrieved: 2026-09-30T20:42:17.544Z

## Company

Moriya Transportation Engineering and Manufacturing, founded in 1950, is a company in Industrial Machinery listed on TSE Standard. It has 388 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Moriya Transportation Engineering and Manufacturing Co.,Ltd. |
| Ticker | 6226 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6226.T) |
| Listing | TSE Standard |
| Head office | 神奈川県横浜市金沢区福浦一丁目14番地9 |
| Representative (per filing) | 代表取締役社長 守谷 貞夫 |
| Founded | Mar 1950 |
| Share capital | ¥1.11B |
| Employees (consolidated) | 388 |
| Average salary (parent only) | ¥8.6M |
| Fiscal year end | March |
| Website | moriya-elevator.co.jp (https://moriya-elevator.co.jp/) |
| Corporate number | 8020001010674 |
| EDINET | E37499 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YGR0, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 86.8 | 110 |
| Profitability | 99.6 | 122 |
| Cash conversion | 17.7 | 116 |
| Efficiency | 94.7 | 122 |

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)

- Moriya Transportation Engineering and Manufacturing brought in ¥23.6B in revenue.
- Out of every ¥100 of sales, about ¥26 is left as operating profit.
- Revenue changed +21.4% from the prior year, operating profit +48.3%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥23589633000 → ¥4138302000
- Net income → operating cash flow: ¥4138302000 → ¥2763921000（difference ¥-1374381000）
- Main uses of operating cash flow: CapEx ¥3289312000 / dividends ¥844887000 / buybacks ¥537000
- Change in cash: ¥-1431560000
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 | ¥23.6B |  |
| Operating income | ¥6.07B | Margin 25.7% |
| Net income | ¥4.14B | Margin 17.5% |
| Free cash flow | -¥525.4M |  |
| Employees (consolidated) | 388 |  |
| EPS | ¥117.47 |  |
| Diluted EPS | ¥117.05 |  |
| Book value per share | ¥421.89 |  |
| Equity ratio | 71.4% |  |
| Shares outstanding | 17,685,800 |  |
| Treasury shares | 45,300 |  |
| Shareholders | 3,800 |  |
| Average salary (parent only) | ¥8.6M | Filing company only |
| Cash ratio | 20.7% | Cash ÷ revenue 18.3% |
| Vs. industry median margin | +18.2 pp | Industrial Machinery |
| ROE | 31.8% | Derived from disclosed figures |
| ROA | 21.8% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +31% over five years
- FY2026, operating income keeps 26 per ¥100 of revenue

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13517891000 | ¥23589633000 | +74.5% |
| Operating income | ¥1686213000 | ¥6071257000 | +260.1% |
| Operating margin | 12.5% | 25.7% | +13.3 pp |
| Employees | 291 people | 388 people | +33.3% |
| Cash and equivalents | ¥1682504000 | ¥4308064000 | +156.1% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 23,590 | 100.0% | S100YGR0 |
| Cost of revenue | 15,183 | 64.4% | S100YGR0 |
| Gross profit | 8,407 | 35.6% | S100YGR0 |
| SG&A | 2,335 | 9.9% | S100YGR0 |
| Operating income | 6,071 | 25.7% | S100YGR0 |
| Ordinary income | 6,128 | 26.0% | S100YGR0 |
| Pretax income | 6,128 | 26.0% | S100YGR0 |
| Income tax | 1,989 | 8.4% | S100YGR0 |
| Net income | 4,138 | 17.5% | S100YGR0 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 64 |
| SG&A | 10 |
| Operating income | 26 |
| (Ref.) Net income | 18 |

### Margin funnel

Gross margin 35.6% → Operating margin 25.7% → Net margin 17.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +21.4%; Core profit growth: +48.3%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 2.26×
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 | 19,435 | 23,590 | 4,154 | +21.4% |
| Gross profit | 6,175 | 8,407 | 2,231 | +36.1% |
| Operating income | 4,093 | 6,071 | 1,978 | +48.3% |
| Operating cash flow | 1,997 | 2,764 | 766 | +38.4% |
| Free cash flow | 1,788 | -525 | -2,313 | -129.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2021 | 13,518 | 1,686 | 12.5% | 1,085 | 1,728 | 1,686 | S100OLLE |
| FY ending Mar 2022 | 13,886 | 1,818 | 13.1% | 1,145 | 1,115 | 932 | S100R8L6 |
| FY ending Mar 2023 | 15,417 | 777 | 5.0% | 642 | 50 | -717 | S100TW9L |
| FY ending Mar 2024 | 17,528 | 2,594 | 14.8% | 1,719 | 2,578 | 2,182 | S100W7EA |
| FY ending Mar 2025 | 19,435 | 4,093 | 21.1% | 2,841 | 1,997 | 1,788 | S100YGR0 |
| FY ending Mar 2026 | 23,590 | 6,071 | 25.7% | 4,138 | 2,764 | -525 | S100YGR0 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥60.8M |
| Operating income per employee (consolidated) | ¥15.6M |
| Net income per employee (consolidated) | ¥10.7M |

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) | 299 | 314 | 336 | 360 | 388 |
| Average salary (parent company) | ¥6.6M | ¥7M | ¥7M | ¥7.8M | ¥8.6M |
| Average age (parent company) | 39.9 years | 40.3 years | 40.4 years | 40.4 years | 40.7 years |
| Average tenure (parent company) | 8.1 years | 8.2 years | 8.2 years | 8.3 years | 8.6 years |

Year over year: Employees (consolidated) +7.8% · Revenue (consolidated) +21.4%

## 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 | 2,764 | 11.7% | S100YGR0 |
| Capital expenditure | 3,289 | 13.9% | S100YGR0 |
| Free cash flow | -525 | -2.2% | 算出 |
| Investing cash flow | -3,341 | -14.2% | S100YGR0 |
| Financing cash flow | -846 | -3.6% | S100YGR0 |
| Dividends paid | 845 | 3.6% | S100YGR0 |
| Share buyback | 1 | 0.0% | S100YGR0 |
| Change in cash | -1,432 | -6.1% | S100YGR0 |
| Cash and equivalents | 4,308 | 18.3% | S100YGR0 |

## 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 | 3,877 | 2,567 | 4,497 | 5,740 | 4,308 | S100TW9L, S100W7EA, S100YGR0 |
| Total assets | 12,022 | 12,767 | 15,072 | 17,190 | 20,854 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Net assets | 7,253 | 7,539 | 9,124 | 11,487 | 14,885 | S100TW9L, S100W7EA, S100YGR0 |
| Share capital | 1,059 | 1,067 | 1,082 | 1,106 | 1,113 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Property, plant and equipment | 1,793 | 2,456 | 2,772 | 2,788 | 5,918 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Intangible assets excluding goodwill | 149 | 135 | 101 | 82 | 82 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Investment securities | 304 | 340 | 492 | 488 | 607 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Current assets | 8,869 | 8,738 | 10,672 | 12,726 | 13,041 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Current liabilities | 4,024 | 4,443 | 5,220 | 4,963 | 5,206 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Long-term borrowings | 13 | — | — | — | — | S100R8L6 |
| Total liabilities | 4,769 | 5,228 | 5,948 | 5,703 | 5,970 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Equity attributable to owners of parent | 7,209 | 7,478 | 8,965 | 11,342 | 14,669 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Retained earnings | 5,240 | 5,492 | 6,949 | 9,395 | 12,689 | S100R8L6, S100TW9L, S100W7EA, S100YGR0 |
| Treasury stock | — | -0 | -0 | -117 | -106 | S100TW9L, S100W7EA, S100YGR0 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 21% | S100YGR0 |
| Property, plant and equipment | 28% | S100YGR0 |
| Intangibles and goodwill | 0% | S100YGR0 |
| Investment securities | 3% | S100YGR0 |
| Other assets | 48% | S100YGR0 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 29% | S100YGR0 |
| Equity | 71% | S100YGR0 |
| Other liabilities | 0% | S100YGR0 |

### 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 | 12,022 | 12,767 | 15,072 | 17,190 | 20,854 |
| Equity | 7,253 | 7,539 | 9,124 | 11,487 | 14,885 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,877 | 2,567 | 4,497 | 5,740 | 4,308 |

## 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) | 25.1% | S100YGR0 |
| Fixed assets ÷ total assets | 28.4% | S100YGR0 |
| Goodwill ÷ parent equity | — | —, S100YGR0 |

### 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) | 20.7% |
| Cash ÷ revenue | 18.3% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 45.5% |
| Cash vs. profit gap | -1,374 JPY mn (of net income -33.2%) |
| Shareholder returns / net income | 20.4% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 20.4% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 13.9% |
| Investing CF relative to operating CF | 120.9% |

## 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 | 8.2% | 1.15× | 9.5% | 1.67× | 15.9% | S100R8L6 |
| 2023 | 4.2% | 1.24× | 5.2% | 1.69× | 8.7% | S100TW9L |
| 2024 | 9.8% | 1.26× | 12.3% | 1.69× | 20.9% | S100W7EA |
| 2025 | 14.6% | 1.20× | 17.6% | 1.59× | 28.0% | S100YGR0 |
| 2026 | 17.5% | 1.24× | 21.8% | 1.46× | 31.8% | S100YGR0 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社Ｍ２Ｗ | Major shareholder | 31.2% | 2026-03-31 |
| 守谷 貞夫 | Major shareholder | 8.6% | 2026-03-31 |
| 守谷 順子 | Major shareholder | 7.5% | 2026-03-31 |
| 濵 芽久実 | Major shareholder | 6.2% | 2026-03-31 |
| 守谷 和香子 | Major shareholder | 5.9% | 2026-03-31 |
| 戸塚 昌代 | Major shareholder | 5.9% | 2026-03-31 |
| NORTHERN TRUST CO.(AVFC) RE FIDELITY FUNDS（常任代理人 香港上海銀行東京支店） | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社横浜銀行 | Major shareholder | 2.1% | 2026-03-31 |
| PERSHING-DIV.OF DLJSECS.CORP.（常任代理人 シティバンク、エヌ・エイ 東京支店） | Major shareholder | 2.0% | 2026-03-31 |
| NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB)（常任代理人 野村證券 株式会社) | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第79期(2025/04/01－2026/03/31) | S100YGR0 | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGR0,, |
| 有価証券報告書－第78期(2024/04/01－2025/03/31) | S100W7EA | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7EA,, |
| 有価証券報告書－第77期(2023/04/01－2024/03/31) | S100TW9L | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW9L,, |
| 有価証券報告書－第76期(2022/04/01－2023/03/31) | S100R8L6 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8L6,, |
| 有価証券報告書－第75期(令和3年4月1日－令和4年3月31日) | S100OLLE | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLLE,, |

## 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).