# NAGANO KEIKI  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104期(2025/04/01－2026/03/31) (S100YLAN)
> Page: https://vizora.meequs.com/en/company/nagano-keiki
> Retrieved: 2026-09-30T23:08:39.029Z

## Company

Nagano Keiki, founded in 1964, is a company in Robots & Factory Automation listed on TSE Prime. It has 2,390 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NAGANO KEIKI CO.,LTD. |
| Ticker | 7715 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7715.T) |
| Listing | TSE Prime |
| Head office | 東京都大田区東馬込一丁目30番4号 |
| Representative (per filing) | 代表取締役社長 佐藤 正継 |
| Founded | May 1964 |
| Share capital | ¥4.38B |
| Employees (consolidated) | 2,390 |
| Average salary (parent only) | ¥5.3M |
| Fiscal year end | March |
| Corporate number | 7010801008721 |
| EDINET | E02329 |
| Industries (Vizora) | Robots & Factory Automation, Auto Parts |

> Profile source: annual securities report (S100YLAN, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Robots & Factory Automation (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 68.2 | 33 |
| Profitability | 39.7 | 34 |
| Cash conversion | 57.8 | 32 |
| Efficiency | 87.1 | 35 |

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 54% of Nagano Keiki's sales come from Pressure gauge, with Pressure sensor and Die casting making up much of the rest.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed -2.7% from the prior year, operating profit -8.8%.

## Company structure

- Segment revenue mix: Pressure gauge 53.9%、Pressure sensor 28.7%、Die casting 8.1%、Pressure control device 6.6%、Other 2.7%
- Revenue → net income: ¥67691975000 → ¥5542335000
- Net income → operating cash flow: ¥5542335000 → ¥7620283000（difference ¥2077948000）
- Main uses of operating cash flow: CapEx ¥1463265000 / dividends ¥953001000 / buybacks ¥1204313000
- Change in cash: ¥3784771000
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 | ¥67.7B |  |
| Operating income | ¥6.98B | Margin 10.3% |
| Net income | ¥5.4B | Margin 8.0% |
| Free cash flow | ¥6.16B |  |
| Largest business | Pressure gauge | of segment revenue 53.9% |
| Employees (consolidated) | 2,390 |  |
| EPS | ¥202.33 |  |
| Book value per share | ¥2014.39 |  |
| Equity ratio | 62.9% |  |
| Shares outstanding | 18,892,484 |  |
| Treasury shares | 199,400 |  |
| Shareholders | 5,148 |  |
| Average salary (parent only) | ¥5.3M | Filing company only |
| Cash ratio | 17.6% | Cash ÷ revenue 19.9% |
| Vs. industry median margin | -1.4 pp | Robots & Factory Automation |
| ROE | 13.6% | Derived from disclosed figures |
| ROA | 7.2% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.3× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥44805269000 | ¥67691975000 | +51.1% |
| Operating income | ¥1442425000 | ¥6978959000 | +383.8% |
| Operating margin | 3.2% | 10.3% | +7.1 pp |
| Employees | 2,297 people | 2,390 people | +4.0% |
| Cash and equivalents | ¥7038612000 | ¥13485398000 | +91.6% |

### 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 |
| --- | ---: |
| 圧力計 → 圧力計 | 48.6% |
| 圧力センサ → 圧力センサ | 28.7% |
| 圧力センサ → 事業再編・廃止 | 1.4% |
| 計測制御機器 → 計測制御機器 | 6.6% |
| 計測制御機器 → 事業再編・廃止 | 3.3% |
| ダイカスト → ダイカスト | 7.9% |
| その他 → その他 | 2.7% |
| その他 → 事業再編・廃止 | 0.8% |
| 新設・再編 → 圧力計 | 5.3% |
| 新設・再編 → ダイカスト | 0.3% |

Segment revenue source references: 10 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Pressure gauge | 5 years | +10.9% | ¥36470862000 | 8.6% | 2 |
| Pressure sensor | 5 years | +7.6% | ¥19459713000 | 15.2% | 2 |
| Die casting | 5 years | +9.3% | ¥5488058000 | 4.2% | 2 |
| Pressure control device | 5 years | +0.1% | ¥4456861000 | 11.4% | 2 |
| Other | 5 years | +2.9% | ¥1816479000 | 7.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 67,692 | 100.0% | S100YLAN |
| Cost of revenue | 46,011 | 68.0% | S100YLAN |
| Gross profit | 21,681 | 32.0% | S100YLAN |
| SG&A | 14,702 | 21.7% | S100YLAN |
| Operating income | 6,979 | 10.3% | S100YLAN |
| Ordinary income | 6,863 | 10.1% | S100YLAN |
| Pretax income | 7,997 | 11.8% | S100YLAN |
| Income tax | 2,455 | 3.6% | S100YLAN |
| Net income | 5,542 | 8.2% | S100YLAN |
| Net income attributable to owners | 5,397 | 8.0% | S100YLAN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 68 |
| SG&A | 22 |
| Operating income | 10 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 32.0% → Operating margin 10.3% → Net margin 8.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -2.7%; Core profit growth: -8.8%
Operating leverage (core profit growth ÷ revenue growth): 3.31×
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 | 69,545 | 67,692 | -1,853 | -2.7% |
| Gross profit | 22,218 | 21,681 | -538 | -2.4% |
| Operating income | 7,653 | 6,979 | -674 | -8.8% |
| Net income attributable to owners | 6,055 | 5,397 | -657 | -10.9% |
| Operating cash flow | 6,098 | 7,620 | 1,522 | +25.0% |
| Free cash flow | 3,483 | 6,157 | 2,674 | +76.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 49,067 | 2,306 | 4.7% | 1,587 | 3,781 | 2,407 | S100LVND |
| FY ending Mar 2021 | 44,805 | 1,442 | 3.2% | 865 | 2,332 | 839 | S100OMFO |
| FY ending Mar 2022 | 54,953 | 3,552 | 6.5% | 2,514 | 2,813 | 576 | S100RAU7 |
| FY ending Mar 2023 | 60,544 | 4,726 | 7.8% | 3,411 | 2,219 | 310 | S100TW1N |
| FY ending Mar 2024 | 67,936 | 7,151 | 10.5% | 5,410 | 6,240 | 3,655 | S100W6PX |
| FY ending Mar 2025 | 69,545 | 7,653 | 11.0% | 6,055 | 6,098 | 3,483 | S100YLAN |
| FY ending Mar 2026 | 67,692 | 6,979 | 10.3% | 5,397 | 7,620 | 6,157 | S100YLAN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥28.3M |
| Operating income per employee (consolidated) | ¥2.9M |
| Net income per employee (consolidated) | ¥2.3M |

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) | 2,344 | 2,383 | 2,421 | 2,388 | 2,390 |
| Average salary (parent company) | ¥5.2M | ¥5.6M | ¥5.8M | ¥5.7M | ¥5.3M |
| Average age (parent company) | 42.1 years | 41.5 years | 41.7 years | 42.1 years | 42.3 years |
| Average tenure (parent company) | 18.5 years | 17.8 years | 17.8 years | 18.1 years | 18.4 years |

Year over year: Employees (consolidated) +0.1% · Revenue (consolidated) -2.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Pressure gauge | 36,471 | 53.9% | 3,141 | 8.6% |
| Pressure sensor | 19,460 | 28.7% | 2,957 | 15.2% |
| Pressure control device | 4,457 | 6.6% | 508 | 11.4% |
| Die casting | 5,488 | 8.1% | 233 | 4.2% |
| Other | 1,816 | 2.7% | 136 | 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 |
| --- | ---: | ---: | ---: | ---: |
| Pressure gauge | 53.9% | 45.0% | -8.8 | 8.6% |
| Pressure sensor | 28.7% | 42.4% | 13.7 | 15.2% |
| Pressure control device | 6.6% | 7.3% | 0.7 | 11.4% |
| Die casting | 8.1% | 3.3% | -4.8 | 4.2% |
| Other | 2.7% | 1.9% | -0.7 | 7.5% |

Segment → industry: Pressure control device → Robots & Factory Automation / Pressure sensor → Robots & Factory Automation / Pressure gauge → Robots & Factory Automation / Die casting → Auto Parts

## 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 | 7,620 | 11.3% | S100YLAN |
| Capital expenditure | 1,463 | 2.2% | S100YLAN |
| Free cash flow | 6,157 | 9.1% | 算出 |
| Investing cash flow | 282 | 0.4% | S100YLAN |
| Financing cash flow | -4,255 | -6.3% | S100YLAN |
| Dividends paid | 953 | 1.4% | S100YLAN |
| Share buyback | 1,204 | 1.8% | S100YLAN |
| Change in cash | 3,785 | 5.6% | S100YLAN |
| Cash and equivalents | 13,485 | 19.9% | S100YLAN |

## 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 | 6,160 | 6,338 | 7,289 | 9,701 | 13,485 | S100TW1N, S100W6PX, S100YLAN |
| Total assets | 55,582 | 62,864 | 72,369 | 74,407 | 76,475 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Net assets | 29,114 | 33,311 | 40,583 | 44,656 | 49,106 | S100TW1N, S100W6PX, S100YLAN |
| Share capital | 4,380 | 4,380 | 4,380 | 4,380 | 4,380 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Property, plant and equipment | 11,750 | 14,839 | 16,852 | 18,722 | 18,327 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Intangible assets excluding goodwill | 954 | 868 | 758 | 698 | 647 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Goodwill | 71 | 38 | 10 | — | — | S100RAU7, S100TW1N, S100W6PX |
| Investment securities | 9,080 | 9,323 | 12,314 | 9,320 | 9,889 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Current assets | 32,775 | 36,788 | 40,755 | 43,792 | 45,361 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Current liabilities | 17,443 | 20,385 | 20,909 | 20,306 | 14,909 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Trade payables | 4,786 | 5,104 | 5,549 | 4,225 | 3,846 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Short-term borrowings | 6,456 | 8,754 | 7,806 | 7,483 | 3,597 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Long-term borrowings | 4,161 | 3,296 | 2,505 | 1,619 | 4,473 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Bonds | 150 | — | — | — | — | S100RAU7 |
| Interest-bearing debt | 10,768 | — | — | — | — | 算出 |
| Total liabilities | 26,468 | 29,553 | 31,786 | 29,751 | 27,369 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Non-controlling interests | 774 | 803 | 816 | 874 | 1,032 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Equity attributable to owners of parent | 25,412 | 28,229 | 32,935 | 38,105 | 41,352 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Retained earnings | 16,908 | 19,666 | 24,331 | 29,501 | 32,782 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |
| Treasury stock | -328 | -325 | -283 | -325 | -315 | S100RAU7, S100TW1N, S100W6PX, S100YLAN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 18% | S100YLAN |
| Property, plant and equipment | 24% | S100YLAN |
| Intangibles and goodwill | 1% | S100YLAN |
| Investment securities | 13% | S100YLAN |
| Other assets | 44% | S100YLAN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YLAN |
| Other liabilities | 31% | S100YLAN |
| Equity | 64% | S100YLAN |

### 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 | 55,582 | 62,864 | 72,369 | 74,407 | 76,475 |
| Equity | 29,114 | 33,311 | 40,583 | 44,656 | 49,106 |
| Interest-bearing debt | 10,768 | — | — | — | — |
| Cash | 6,160 | 6,338 | 7,289 | 9,701 | 13,485 |

## 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) | 27.1% | S100YLAN |
| Fixed assets ÷ total assets | 24.0% | S100YLAN |
| Goodwill ÷ parent equity | — | —, S100YLAN |

### 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) | 17.6% |
| Cash ÷ revenue | 19.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 109.2% |
| Cash vs. profit gap | 2,223 JPY mn (of net income 41.2%) |
| Shareholder returns / net income | 40.0% |
| Shareholder returns / FCF | 35.0% |
| Shareholder payments — dividends / net income | 17.7% |
| Shareholder payments — dividends / FCF | 15.5% |
| CapEx intensity (capex ÷ revenue) | 2.2% |
| Investing CF relative to operating CF | 3.7% |

## 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 | 4.6% | 0.99× | 4.5% | 2.19× | 9.9% | S100RAU7 |
| 2023 | 5.6% | 1.02× | 5.8% | 2.21× | 12.7% | S100TW1N |
| 2024 | 8.0% | 1.00× | 8.0% | 2.21× | 17.7% | S100W6PX |
| 2025 | 8.7% | 0.95× | 8.3% | 2.07× | 17.0% | S100YLAN |
| 2026 | 8.0% | 0.90× | 7.2% | 1.90× | 13.6% | S100YLAN |

## 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 | 12.0% | 2026-03-31 |
| 長野計器取引先持株会 | Major shareholder | 8.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.9% | 2026-03-31 |
| MSIP CLIENT SECURITIES （常任代理人 モルガン・スタンレーMUFG証券株式会社） | Major shareholder | 4.4% | 2026-03-31 |
| 株式会社八十二長野銀行 | Major shareholder | 3.8% | 2026-03-31 |
| 日本酸素ホールディングス株式会社 | Major shareholder | 3.7% | 2026-03-31 |
| ニデックインスツルメンツ株式会社 | Major shareholder | 2.8% | 2026-03-31 |
| 八十二キャピタル株式会社 | Major shareholder | 2.7% | 2026-03-31 |
| 戸谷 直樹 | Major shareholder | 2.4% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC) （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第104期(2025/04/01－2026/03/31) | S100YLAN | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLAN,, |
| 有価証券報告書－第103期(2024/04/01－2025/03/31) | S100W6PX | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6PX,, |
| 有価証券報告書－第102期(2023/04/01－2024/03/31) | S100TW1N | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW1N,, |
| 有価証券報告書－第101期(2022/04/01－2023/03/31) | S100RAU7 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAU7,, |
| 有価証券報告書－第100期(令和3年4月1日－令和4年3月31日) | S100OMFO | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OMFO,, |
| 有価証券報告書－第99期(令和2年4月1日－令和3年3月31日) | S100LVND | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVND,, |

## 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).