# NAKAKITA SEISAKUSHO CO.,LTD.: business model and financials

> Latest period: FY ending May 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第100期(2025/06/01－2026/05/31) (S100YYFP)
> Page: https://vizora.meequs.com/en/company/nakakita-seisakusho
> Retrieved: 2026-09-30T19:58:30.041Z

## Company

Nakakita Seisakusho, founded in 1937, is a company in Industrial Machinery listed on TSE Standard. It has 511 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NAKAKITA SEISAKUSHO CO.,LTD. |
| Ticker | 6496 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6496.T) |
| Listing | TSE Standard |
| Head office | 大阪府大東市深野南町1番1号 |
| Representative (per filing) | 代表取締役社長 宮田 彰久 |
| Founded | May 1937 |
| Share capital | ¥1.15B |
| Employees (consolidated) | 511 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | May |
| Website | www.nakakita-s.co.jp (https://www.nakakita-s.co.jp/) |
| Corporate number | 5122001015687 |
| EDINET | E01649 |
| Industries (Vizora) | Industrial Machinery |

> Profile source: annual securities report (S100YYFP, filed 2026-08-26). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-05-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 31.6 | 122 |
| Cash conversion | 5.6 | 116 |
| Efficiency | 59.4 | 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)

- Nakakita Seisakusho brought in ¥29.3B in revenue.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +23.1% from the prior year, operating profit +34.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥29.3B |  |
| Operating income | ¥1.56B | Margin 5.3% |
| Net income | ¥1.72B | Margin 5.9% |
| Free cash flow | -¥2.57B |  |
| Employees (consolidated) | 511 |  |
| EPS | ¥493.1 |  |
| Book value per share | ¥7919.69 |  |
| Equity ratio | 70.7% |  |
| Shares outstanding | 3,832,000 |  |
| Treasury shares | 342,000 |  |
| Shareholders | 1,794 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 12.3% | Cash ÷ revenue 16.7% |
| Vs. industry median margin | -2.2 pp | Industrial Machinery |
| ROE | 6.9% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending May 2021 | FY ending May 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥17558484000 | ¥29254158000 | — |
| Operating income | ¥788115000 | ¥1561125000 | — |
| Operating margin | 4.5% | 5.3% | +0.8 pp |
| Employees | 358 people | 511 people | — |
| Cash and equivalents | ¥4109652000 | ¥4880788000 | — |

### Change in segment revenue mix

Span: FY ending May 2021 → FY ending May 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 29,254 | 100.0% | S100YYFP |
| Cost of revenue | 24,425 | 83.5% | S100YYFP |
| Gross profit | 4,829 | 16.5% | S100YYFP |
| SG&A | 3,268 | 11.2% | S100YYFP |
| Operating income | 1,561 | 5.3% | S100YYFP |
| Ordinary income | 2,266 | 7.7% | S100YYFP |
| Pretax income | 2,266 | 7.7% | S100YYFP |
| Income tax | 541 | 1.8% | S100YYFP |
| Net income | 1,725 | 5.9% | S100YYFP |
| Net income attributable to owners | 1,725 | 5.9% | S100YYFP |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 11 |
| Operating income | 5 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 16.5% → Operating margin 5.3% → Net margin 5.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +23.1%; Core profit growth: +34.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.51×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending May 2025 → FY ending May 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 23,768 | 29,254 | 5,486 | +23.1% |
| Gross profit | 4,126 | 4,829 | 704 | +17.1% |
| Operating income | 1,157 | 1,561 | 404 | +34.9% |
| Net income attributable to owners | 1,730 | 1,725 | -5 | -0.3% |
| Operating cash flow | -2,518 | -291 | 2,228 | — |
| Free cash flow | -3,385 | -2,572 | 813 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending May 2020 | 18,639 | 1,013 | 5.4% | 742 | 718 | 182 | S100MCVE |
| FY ending May 2021 | 17,558 | 788 | 4.5% | 674 | 1,838 | 1,666 | S100P3C1 |
| FY ending May 2022 | 17,158 | 538 | 3.1% | 557 | 610 | 113 | S100RRUV |
| FY ending May 2023 | 15,777 | 817 | 5.2% | 806 | 1,634 | -1,976 | S100UAK2 |
| FY ending May 2024 | 18,609 | 1,203 | 6.5% | 1,021 | 811 | 502 | S100UAK2 |
| FY ending May 2025 | 23,768 | 1,157 | 4.9% | 1,730 | -2,518 | -3,385 | S100YYFP |
| FY ending May 2026 | 29,254 | 1,561 | 5.3% | 1,725 | -291 | -2,572 | S100YYFP |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥57.2M |
| Operating income per employee (consolidated) | ¥3.1M |
| 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 May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 352 | 341 | 355 | 463 | 511 |
| Average salary (parent company) | ¥6.2M | ¥6.2M | ¥6.1M | ¥6.4M | ¥6.6M |
| Average age (parent company) | 43.2 years | 43.9 years | 43.8 years | 43.9 years | 43.5 years |
| Average tenure (parent company) | 17.2 years | 18.0 years | 17.3 years | 16.7 years | 16.0 years |

Year over year: Employees (consolidated) +10.4% · Revenue (consolidated) +23.1%

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -291 | -1.0% | S100YYFP |
| Capital expenditure | 2,281 | 7.8% | S100YYFP |
| Free cash flow | -2,572 | -8.8% | 算出 |
| Investing cash flow | -1,886 | -6.4% | S100YYFP |
| Financing cash flow | 1,566 | 5.4% | S100YYFP |
| Dividends paid | 366 | 1.2% | S100YYFP |
| Share buyback | 1 | 0.0% | S100YYFP |
| Change in cash | -610 | -2.1% | S100YYFP |
| Cash and equivalents | 4,881 | 16.7% | S100YYFP |

## 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 May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 4,557 | 5,628 | 4,824 | 5,491 | 4,881 | S100UAK2, S100YYFP |
| Total assets | 27,846 | 29,040 | 31,739 | 36,452 | 39,737 | S100RRUV, S100UAK2, S100YYFP |
| Net assets | 22,456 | 23,296 | 24,788 | 25,457 | 28,103 | S100RRUV, S100UAK2, S100YYFP |
| Share capital | 1,150 | 1,150 | 1,150 | 1,150 | 1,150 | S100RRUV, S100UAK2, S100YYFP |
| Property, plant and equipment | 3,652 | 6,926 | 7,105 | 8,219 | 9,850 | S100RRUV, S100UAK2, S100YYFP |
| Intangible assets excluding goodwill | 49 | 43 | 123 | 1,123 | 1,414 | S100RRUV, S100UAK2, S100YYFP |
| Goodwill | — | — | — | 345 | 325 | S100YYFP |
| Investment securities | 4,057 | 4,141 | 5,448 | 2,675 | 3,588 | S100RRUV, S100UAK2, S100YYFP |
| Current assets | 19,893 | 17,555 | 18,347 | 23,192 | 23,021 | S100RRUV, S100UAK2, S100YYFP |
| Current liabilities | 5,156 | 4,399 | 5,407 | 9,493 | 8,835 | S100RRUV, S100UAK2, S100YYFP |
| Short-term borrowings | 800 | 800 | 800 | 2,400 | 3,200 | S100RRUV, S100UAK2, S100YYFP |
| Long-term borrowings | — | 822 | 679 | 536 | 1,368 | S100UAK2, S100YYFP |
| Total liabilities | 5,391 | 5,744 | 6,952 | 10,996 | 11,634 | S100RRUV, S100UAK2, S100YYFP |
| Equity attributable to owners of parent | 21,773 | 22,329 | 22,985 | 24,278 | 25,635 | S100RRUV, S100UAK2, S100YYFP |
| Retained earnings | 19,861 | 20,417 | 21,171 | 22,584 | 23,942 | S100RRUV, S100UAK2, S100YYFP |
| Treasury stock | -717 | -717 | -816 | -935 | -936 | S100RRUV, S100UAK2, S100YYFP |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 12% | S100YYFP |
| Property, plant and equipment | 25% | S100YYFP |
| Intangibles and goodwill | 4% | S100YYFP |
| Investment securities | 9% | S100YYFP |
| Other assets | 50% | S100YYFP |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 29% | S100YYFP |
| Equity | 71% | S100YYFP |

### Balance sheet history

| Metric | FY ending May 2022 | FY ending May 2023 | FY ending May 2024 | FY ending May 2025 | FY ending May 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 27,846 | 29,040 | 31,739 | 36,452 | 39,737 |
| Equity | 22,456 | 23,296 | 24,788 | 25,457 | 28,103 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 4,557 | 5,628 | 4,824 | 5,491 | 4,881 |

## 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) | 33.7% | S100YYFP |
| Fixed assets ÷ total assets | 24.8% | S100YYFP |
| Goodwill ÷ parent equity | 1.3% | S100YYFP |

### 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) | 12.3% |
| Cash ÷ revenue | 16.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -18.6% |
| Cash vs. profit gap | -2,016 JPY mn (of net income -116.9%) |
| Shareholder returns / net income | 21.2% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 21.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 7.8% |
| Investing CF relative to operating CF | — |

## 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 | 3.2% | 0.62× | 2.0% | 1.28× | 2.6% | S100RRUV |
| 2023 | 5.1% | 0.55× | 2.8% | 1.29× | 3.7% | S100UAK2 |
| 2024 | 5.5% | 0.61× | 3.4% | 1.34× | 4.5% | S100UAK2 |
| 2025 | 7.3% | 0.65× | 4.7% | 1.50× | 7.1% | S100YYFP |
| 2026 | 5.9% | 0.77× | 4.5% | 1.53× | 6.9% | S100YYFP |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ㈱ミヤキタコーポレーション | Major shareholder | 12.7% | 2026-05-31 |
| 中北 健一 | Major shareholder | 7.6% | 2026-05-31 |
| 宮田 彰久 | Major shareholder | 3.3% | 2026-05-31 |
| 中北 仁子 | Major shareholder | 3.3% | 2026-05-31 |
| 渡部 育子 | Major shareholder | 3.3% | 2026-05-31 |
| 黒田 知子 | Major shareholder | 3.3% | 2026-05-31 |
| 宮田 和子 | Major shareholder | 3.1% | 2026-05-31 |
| 宮田 宏章 | Major shareholder | 3.0% | 2026-05-31 |
| 日本マスタートラスト信託銀行㈱ | Major shareholder | 2.8% | 2026-05-31 |
| ㈱三井住友銀行 | Major shareholder | 2.5% | 2026-05-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第100期(2025/06/01－2026/05/31) | S100YYFP | 2026-08-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YYFP,, |
| 有価証券報告書－第99期(2024/06/01－2025/05/31) | S100WLJD | 2025-08-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WLJD,, |
| 有価証券報告書－第98期(2023/06/01－2024/05/31) | S100UAK2 | 2024-08-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UAK2,, |
| 有価証券報告書－第97期(2022/06/01－2023/05/31) | S100RRUV | 2023-08-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RRUV,, |
| 有価証券報告書－第96期(令和3年6月1日－令和4年5月31日) | S100P3C1 | 2022-08-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P3C1,, |
| 有価証券報告書－第95期(令和2年6月1日－令和3年5月31日) | S100MCVE | 2021-08-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MCVE,, |

## 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).