# NIHON PARKERIZING 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141期(2025/04/01－2026/03/31) (S100YJGK)
> Page: https://vizora.meequs.com/en/company/nihon-parkerizing
> Retrieved: 2026-09-30T17:49:07.486Z

## Company

Nihon Parkerizing, founded in 1928, is a company in Auto Parts listed on TSE Prime. It has 4,283 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NIHON PARKERIZING CO., LTD. |
| Ticker | 4095 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4095.T) |
| Listing | TSE Prime |
| Head office | 東京都中央区日本橋二丁目16番8号 |
| Representative (per filing) | 代表取締役 社長執行役員 青山雅之 |
| Founded | Jul 1928 |
| Share capital | ¥4.56B |
| Employees (consolidated) | 4,283 |
| Average salary (parent only) | ¥8.1M |
| Fiscal year end | March |
| Website | www.parker.co.jp (https://www.parker.co.jp/) |
| Corporate number | 1010001034994 |
| EDINET | E00898 |
| Industries (Vizora) | Auto Parts, Chemicals, Industrial Machinery |

> Profile source: annual securities report (S100YJGK, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Chemicals (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 57.8 | 96 |
| Profitability | 80.5 | 100 |
| Cash conversion | 60.9 | 96 |
| Efficiency | 11.5 | 100 |

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 43% of Nihon Parkerizing's sales come from Chemical, with Processing and Equipment making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +4.4% from the prior year, operating profit -1.2%.

## Company structure

- Segment revenue mix: Chemical 42.6%、Processing 35.2%、Equipment 20.0%、Other 2.2%
- Revenue → net income: ¥138155000000 → ¥14291000000
- Net income → operating cash flow: ¥14291000000 → ¥25402000000（difference ¥11111000000）
- Main uses of operating cash flow: CapEx ¥12130000000 / dividends ¥5754000000 / buybacks ¥8640000000
- Change in cash: ¥1751000000
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 | ¥138.2B |  |
| Operating income | ¥14.8B | Margin 10.7% |
| Net income | ¥12.9B | Margin 9.4% |
| Free cash flow | ¥13.3B |  |
| Largest business | Chemical | of segment revenue 42.6% |
| Employees (consolidated) | 4,283 |  |
| EPS | ¥185.91 |  |
| Book value per share | ¥991.76 |  |
| Equity ratio | 73.9% |  |
| Shares outstanding | 132,604,524 |  |
| Treasury shares | 29,825,700 |  |
| Shareholders | 4,830 |  |
| Average salary (parent only) | ¥8.1M | Filing company only |
| Cash ratio | 19.7% | Cash ÷ revenue 39.0% |
| Vs. industry median margin | +3.2 pp | Chemicals |
| ROE | 7.9% | Derived from disclosed figures |
| ROA | 4.8% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.5× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥99918000000 | ¥138155000000 | +38.3% |
| Operating income | ¥10681000000 | ¥14814000000 | +38.7% |
| Operating margin | 10.7% | 10.7% | 0 pp |
| Employees | 4,397 people | 4,283 people | -2.6% |
| Cash and equivalents | ¥57108000000 | ¥53849000000 | -5.7% |

### 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 |
| --- | ---: |
| 薬品事業 → 薬品事業 | 40.6% |
| 装置事業 → 装置事業 | 17.5% |
| 加工事業 → 加工事業 | 35.2% |
| 加工事業 → 事業再編・廃止 | 4.0% |
| その他 → その他 | 2.2% |
| その他 → 事業再編・廃止 | 0.5% |
| 新設・再編 → 薬品事業 | 2.0% |
| 新設・再編 → 装置事業 | 2.5% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Chemical | 5 years | +7.7% | ¥58919000000 | 15.9% | 2 |
| Processing | 5 years | +4.4% | ¥48570000000 | 9.6% | 2 |
| Equipment | 5 years | +9.5% | ¥27621000000 | 7.7% | 2 |
| Other | 5 years | +2.4% | ¥3043000000 | -0.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 138,155 | 100.0% | S100YJGK |
| Cost of revenue | 92,043 | 66.6% | S100YJGK |
| Gross profit | 46,111 | 33.4% | S100YJGK |
| SG&A | 31,297 | 22.7% | S100YJGK |
| Operating income | 14,814 | 10.7% | S100YJGK |
| Ordinary income | 19,667 | 14.2% | S100YJGK |
| Pretax income | 22,951 | 16.6% | S100YJGK |
| Income tax | 8,659 | 6.3% | S100YJGK |
| Net income | 14,291 | 10.3% | S100YJGK |
| Net income attributable to owners | 12,940 | 9.4% | S100YJGK |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 23 |
| Operating income | 11 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 33.4% → Operating margin 10.7% → Net margin 9.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +4.4%; Core profit growth: -1.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.28×
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 | 132,281 | 138,155 | 5,874 | +4.4% |
| Gross profit | 43,909 | 46,111 | 2,202 | +5.0% |
| Operating income | 14,998 | 14,814 | -184 | -1.2% |
| Net income attributable to owners | 13,112 | 12,940 | -172 | -1.3% |
| Operating cash flow | 12,010 | 25,402 | 13,392 | +111.5% |
| Free cash flow | -1,368 | 13,272 | 14,640 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 119,028 | 12,601 | 10.6% | 9,449 | 17,514 | 8,343 | S100LSZF |
| FY ending Mar 2021 | 99,918 | 10,681 | 10.7% | 9,999 | 16,212 | 11,304 | S100OJEM |
| FY ending Mar 2022 | 117,752 | 13,370 | 11.4% | 9,046 | 14,281 | 10,049 | S100R9YU |
| FY ending Mar 2023 | 119,177 | 12,668 | 10.6% | 9,973 | 16,608 | 7,001 | S100TUNO |
| FY ending Mar 2024 | 125,085 | 15,258 | 12.2% | 13,194 | 22,776 | 14,736 | S100W75D |
| FY ending Mar 2025 | 132,281 | 14,998 | 11.3% | 13,112 | 12,010 | -1,368 | S100YJGK |
| FY ending Mar 2026 | 138,155 | 14,814 | 10.7% | 12,940 | 25,402 | 13,272 | S100YJGK |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥32.3M |
| Operating income per employee (consolidated) | ¥3.5M |
| Net income per employee (consolidated) | ¥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) | 4,353 | 4,317 | 4,279 | 4,354 | 4,283 |
| Average salary (parent company) | ¥7.7M | ¥7.3M | ¥7.5M | ¥7.8M | ¥8.1M |
| Average age (parent company) | 42.0 years | 41.9 years | 42.5 years | 41.9 years | 44.0 years |
| Average tenure (parent company) | 17.6 years | 17.6 years | 17.5 years | 16.9 years | 17.6 years |

Year over year: Employees (consolidated) -1.6% · Revenue (consolidated) +4.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Chemical | 58,919 | 42.6% | 9,363 | 15.9% |
| Equipment | 27,621 | 20.0% | 2,116 | 7.7% |
| Processing | 48,570 | 35.2% | 4,675 | 9.6% |
| Other | 3,043 | 2.2% | -19 | -0.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Chemical | 42.6% | 58.0% | 15.3 | 15.9% |
| Equipment | 20.0% | 13.1% | -6.9 | 7.7% |
| Processing | 35.2% | 28.9% | -6.2 | 9.6% |
| Other | 2.2% | — | — | -0.6% |

Loss-making segment (excluded from profit shares): Other -19 JPY mn

Segment → industry: Processing → Auto Parts / Chemical → Chemicals / Equipment → Industrial Machinery

## 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 | 25,402 | 18.4% | S100YJGK |
| Capital expenditure | 12,130 | 8.8% | S100YJGK |
| Free cash flow | 13,272 | 9.6% | 算出 |
| Investing cash flow | 617 | 0.4% | S100YJGK |
| Financing cash flow | -25,857 | -18.7% | S100YJGK |
| Dividends paid | 5,754 | 4.2% | S100YJGK |
| Share buyback | 8,640 | 6.3% | S100YJGK |
| Change in cash | 1,751 | 1.3% | S100YJGK |
| Cash and equivalents | 53,849 | 39.0% | S100YJGK |

## 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 | 62,083 | 58,098 | 69,661 | 52,097 | 53,849 | S100TUNO, S100W75D, S100YJGK |
| Total assets | 228,982 | 236,534 | 269,819 | 267,250 | 273,094 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Net assets | 187,673 | 196,392 | 219,885 | 223,298 | 221,457 | S100TUNO, S100W75D, S100YJGK |
| Share capital | 4,560 | 4,560 | 4,560 | 4,560 | 4,560 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Property, plant and equipment | 58,022 | 62,671 | 66,182 | 71,177 | 75,641 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Intangible assets excluding goodwill | 2,488 | 2,305 | 2,397 | 4,671 | 5,020 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Investment securities | 29,305 | 28,780 | 35,380 | 34,482 | 40,501 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Current assets | 126,258 | 128,576 | 146,511 | 137,868 | 127,104 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Current liabilities | 31,599 | 30,693 | 38,710 | 32,617 | 36,436 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Trade payables | 17,200 | 17,454 | 19,580 | 16,286 | 15,888 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Short-term borrowings | — | — | 200 | 200 | — | S100W75D, S100YJGK |
| Long-term borrowings | 745 | 500 | — | 250 | 250 | S100R9YU, S100TUNO, S100YJGK |
| Total liabilities | 41,309 | 40,141 | 49,933 | 43,951 | 51,636 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Non-controlling interests | 27,379 | 30,120 | 32,738 | 28,080 | 19,635 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Equity attributable to owners of parent | 147,736 | 150,419 | 159,048 | 165,530 | 163,993 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Retained earnings | 150,543 | 155,029 | 163,601 | 171,426 | 178,754 | S100R9YU, S100TUNO, S100W75D, S100YJGK |
| Treasury stock | -11,805 | -13,627 | -13,643 | -15,945 | -24,566 | S100R9YU, S100TUNO, S100W75D, S100YJGK |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YJGK |
| Property, plant and equipment | 27% | S100YJGK |
| Intangibles and goodwill | 2% | S100YJGK |
| Investment securities | 15% | S100YJGK |
| Other assets | 36% | S100YJGK |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YJGK |
| Other liabilities | 13% | S100YJGK |
| Equity | 81% | S100YJGK |
| Other liabilities | 0% | S100YJGK |

### 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 | 228,982 | 236,534 | 269,819 | 267,250 | 273,094 |
| Equity | 187,673 | 196,392 | 219,885 | 223,298 | 221,457 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 62,083 | 58,098 | 69,661 | 52,097 | 53,849 |

## 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) | 54.8% | S100YJGK |
| Fixed assets ÷ total assets | 27.7% | S100YJGK |
| Goodwill ÷ parent equity | — | —, S100YJGK |

### 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) | 19.7% |
| Cash ÷ revenue | 39.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 171.5% |
| Cash vs. profit gap | 12,462 JPY mn (of net income 96.3%) |
| Shareholder returns / net income | 111.2% |
| Shareholder returns / FCF | 108.5% |
| Shareholder payments — dividends / net income | 44.5% |
| Shareholder payments — dividends / FCF | 43.4% |
| CapEx intensity (capex ÷ revenue) | 8.8% |
| Investing CF relative to operating CF | 2.4% |

## 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 | 7.7% | 0.51× | 4.0% | 1.55× | 6.1% | S100R9YU |
| 2023 | 8.4% | 0.51× | 4.3% | 1.56× | 6.7% | S100TUNO |
| 2024 | 10.5% | 0.49× | 5.2% | 1.64× | 8.5% | S100W75D |
| 2025 | 9.9% | 0.49× | 4.9% | 1.65× | 8.1% | S100YJGK |
| 2026 | 9.4% | 0.51× | 4.8% | 1.64× | 7.9% | S100YJGK |

## 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 | 11.1% | 2026-03-31 |
| 日本生命保険相互会社 （常任代理人 日本マスタートラスト信託銀行株式会社） | Major shareholder | 6.3% | 2026-03-31 |
| 明治安田生命保険相互会社（常任代理人 株式会社日本カストディ銀行） | Major shareholder | 4.5% | 2026-03-31 |
| 株式会社雄元 | Major shareholder | 4.5% | 2026-03-31 |
| 株式会社千葉銀行 | Major shareholder | 4.3% | 2026-03-31 |
| 公益財団法人里見奨学会 | Major shareholder | 4.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 3.0% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY(常任代理人 株式会社みずほ銀行) | Major shareholder | 2.6% | 2026-03-31 |
| みずほ信託銀行株式会社 退職給付信託 日本製鉄退職金口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第141期(2025/04/01－2026/03/31) | S100YJGK | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YJGK,, |
| 有価証券報告書－第140期(2024/04/01－2025/03/31) | S100W75D | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W75D,, |
| 有価証券報告書－第139期(2023/04/01－2024/03/31) | S100TUNO | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TUNO,, |
| 有価証券報告書－第138期(2022/04/01－2023/03/31) | S100R9YU | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9YU,, |
| 有価証券報告書－第137期(令和3年4月1日－令和4年3月31日) | S100OJEM | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OJEM,, |
| 有価証券報告書－第136期(令和2年4月1日－令和3年3月31日) | S100LSZF | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSZF,, |

## 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).