# NITTO KOHKI 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70期(2025/04/01－2026/03/31) (S100YFFT)
> Page: https://vizora.meequs.com/en/company/nitto-kohki
> Retrieved: 2026-09-30T20:31:13.909Z

## Company

Nitto Kohki, founded in 1956, is a company in Machine Tools listed on TSE Prime. It has 1,032 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NITTO KOHKI CO.,LTD. |
| Ticker | 6151 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6151.T) |
| Listing | TSE Prime |
| Head office | 東京都大田区仲池上二丁目9番4号 |
| Representative (per filing) | 代表取締役社長 小形 明誠 |
| Founded | Oct 1956 |
| Share capital | ¥1.85B |
| Employees (consolidated) | 1,032 |
| Average salary (parent only) | ¥6.9M |
| Fiscal year end | March |
| Website | www.nitto-kohki.co.jp (https://www.nitto-kohki.co.jp/) |
| Corporate number | 3010801009129 |
| EDINET | E01509 |
| Industries (Vizora) | Machine Tools, Housing Equipment & Building Materials, Industrial Machinery |

> Profile source: annual securities report (S100YFFT, filed 2026-06-22). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 28.6 | 110 |
| Profitability | 22.5 | 122 |
| Cash conversion | 91.8 | 116 |
| Efficiency | 2 | 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)

- About 46% of Nitto Kohki's sales come from Quick Connect Couplings, with Machine Tools and Air Compressors and Vacuum Pumps making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +0.1% from the prior year, operating profit -49.5%.

## Company structure

- Segment revenue mix: Quick Connect Couplings 45.6%、Machine Tools 30.3%、Air Compressors and Vacuum Pumps 16.5%、Door Closers 7.6%
- Revenue → net income: ¥27289000000 → ¥2145000000
- Net income → operating cash flow: ¥2145000000 → ¥4151000000（difference ¥2006000000）
- Main uses of operating cash flow: CapEx ¥7233000000 / dividends ¥711000000 / buybacks —
- Change in cash: ¥-1679000000
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 | ¥27.3B |  |
| Operating income | ¥1.18B | Margin 4.3% |
| Net income | ¥2.14B | Margin 7.9% |
| Free cash flow | -¥3.08B |  |
| Largest business | Quick Connect Couplings | of segment revenue 45.6% |
| Employees (consolidated) | 1,032 |  |
| EPS | ¥164.4 |  |
| Book value per share | ¥2664.41 |  |
| Equity ratio | 88.7% |  |
| Shares outstanding | 19,154,495 |  |
| Treasury shares | 396,700 |  |
| Shareholders | 4,895 |  |
| Average salary (parent only) | ¥6.9M | Filing company only |
| Cash ratio | 17.1% | Cash ÷ revenue 43.1% |
| Vs. industry median margin | -3.2 pp | Industrial Machinery |
| ROE | 3.9% | Derived from disclosed figures |
| ROA | 3.2% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 100% of positive segment profit
- FY2026, segment profit share differs by 54 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥22533000000 | ¥27289000000 | +21.1% |
| Operating income | ¥2091000000 | ¥1182000000 | -43.5% |
| Operating margin | 9.3% | 4.3% | -4.9 pp |
| Employees | 1,001 people | 1,032 people | +3.1% |
| Cash and equivalents | ¥9270000000 | ¥11749000000 | +26.7% |

### 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 |
| --- | ---: |
| 迅速流体継手 → 迅速流体継手 | 41.9% |
| 機械工具 → 機械工具 | 30.3% |
| 機械工具 → 事業再編・廃止 | 0.9% |
| リニア駆動ポンプ → リニア駆動ポンプ | 16.5% |
| リニア駆動ポンプ → 事業再編・廃止 | 1.6% |
| 建築機器 → 建築機器 | 7.6% |
| 建築機器 → 事業再編・廃止 | 1.2% |
| 新設・再編 → 迅速流体継手 | 3.7% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Quick Connect Couplings | 5 years | +5.7% | ¥12439000000 | 15.8% | 2 |
| Machine Tools | 5 years | +3.3% | ¥8257000000 | -7.3% | 2 |
| Air Compressors and Vacuum Pumps | 5 years | +2.0% | ¥4514000000 | -2.7% | 2 |
| Door Closers | 5 years | +1.0% | ¥2078000000 | -2.8% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 27,289 | 100.0% | S100YFFT |
| Cost of revenue | 15,832 | 58.0% | S100YFFT |
| Gross profit | 11,456 | 42.0% | S100YFFT |
| SG&A | 10,274 | 37.6% | S100YFFT |
| Operating income | 1,182 | 4.3% | S100YFFT |
| Ordinary income | 1,466 | 5.4% | S100YFFT |
| Pretax income | 3,249 | 11.9% | S100YFFT |
| Income tax | 1,104 | 4.0% | S100YFFT |
| Net income | 2,145 | 7.9% | S100YFFT |
| Net income attributable to owners | 2,144 | 7.9% | S100YFFT |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 58 |
| SG&A | 38 |
| Operating income | 4 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 42.0% → Operating margin 4.3% → Net margin 7.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +0.1%; Core profit growth: -49.5%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -409.09×
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 | 27,256 | 27,289 | 33 | +0.1% |
| Gross profit | 12,142 | 11,456 | -686 | -5.6% |
| Operating income | 2,342 | 1,182 | -1,160 | -49.5% |
| Net income attributable to owners | 1,345 | 2,144 | 799 | +59.4% |
| Operating cash flow | 2,709 | 4,151 | 1,442 | +53.2% |
| Free cash flow | -3,355 | -3,082 | 273 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 27,054 | 3,965 | 14.7% | 2,750 | 3,491 | 2,252 | S100LLHE |
| FY ending Mar 2021 | 22,533 | 2,091 | 9.3% | 1,549 | 3,758 | 2,106 | S100OF4Q |
| FY ending Mar 2022 | 25,281 | 3,355 | 13.3% | 1,927 | 2,953 | 1,726 | S100S3UR |
| FY ending Mar 2023 | 28,091 | 3,459 | 12.3% | 2,489 | 2,299 | 1,243 | S100US9L |
| FY ending Mar 2024 | 27,072 | 2,680 | 9.9% | 1,841 | 2,307 | -3,612 | S100W2RN |
| FY ending Mar 2025 | 27,256 | 2,342 | 8.6% | 1,345 | 2,709 | -3,355 | S100YFFT |
| FY ending Mar 2026 | 27,289 | 1,182 | 4.3% | 2,144 | 4,151 | -3,082 | S100YFFT |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥26.4M |
| Operating income per employee (consolidated) | ¥1.1M |
| Net income per employee (consolidated) | ¥2.1M |

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) | 1,023 | 1,021 | 1,014 | 1,052 | 1,032 |
| Average salary (parent company) | ¥6.5M | ¥6.6M | ¥6.8M | ¥6.7M | ¥6.9M |
| Average age (parent company) | 42.2 years | 43.0 years | 43.3 years | 43.5 years | 43.7 years |
| Average tenure (parent company) | 15.7 years | 16.0 years | 15.8 years | 16.0 years | 16.3 years |

Year over year: Employees (consolidated) -1.9% · Revenue (consolidated) +0.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Quick Connect Couplings | 12,439 | 45.6% | 1,963 | 15.8% |
| Machine Tools | 8,257 | 30.3% | -600 | -7.3% |
| Air Compressors and Vacuum Pumps | 4,514 | 16.5% | -121 | -2.7% |
| Door Closers | 2,078 | 7.6% | -58 | -2.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Quick Connect Couplings | 45.6% | 100.0% | 54.4 | 15.8% |
| Machine Tools | 30.3% | — | — | -7.3% |
| Air Compressors and Vacuum Pumps | 16.5% | — | — | -2.7% |
| Door Closers | 7.6% | — | — | -2.8% |

Loss-making segment (excluded from profit shares): Machine Tools -600 JPY mn

Loss-making segment (excluded from profit shares): Air Compressors and Vacuum Pumps -121 JPY mn

Loss-making segment (excluded from profit shares): Door Closers -58 JPY mn

Segment → industry: Machine Tools → Machine Tools / Door Closers → Housing Equipment & Building Materials / Air Compressors and Vacuum Pumps → Industrial Machinery / Quick Connect Couplings → 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 | 4,151 | 15.2% | S100YFFT |
| Capital expenditure | 7,233 | 26.5% | S100YFFT |
| Free cash flow | -3,082 | -11.3% | 算出 |
| Investing cash flow | -4,775 | -17.5% | S100YFFT |
| Financing cash flow | -1,039 | -3.8% | S100YFFT |
| Dividends paid | 711 | 2.6% | S100YFFT |
| Change in cash | -1,679 | -6.2% | S100YFFT |
| Cash and equivalents | 11,749 | 43.1% | S100YFFT |

## 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 | 14,781 | 20,403 | 18,805 | 13,429 | 11,749 | S100US9L, S100W2RN, S100YFFT |
| Total assets | 64,334 | 66,632 | 65,066 | 66,605 | 68,670 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Net assets | 55,663 | 57,768 | 57,175 | 58,183 | 60,942 | S100US9L, S100W2RN, S100YFFT |
| Share capital | 1,850 | 1,850 | 1,850 | 1,850 | 1,850 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Trade receivables | 4,070 | 4,139 | 3,748 | 3,457 | 3,505 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Property, plant and equipment | 11,487 | 11,477 | 15,859 | 19,791 | 24,203 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Intangible assets excluding goodwill | 1,546 | 1,694 | 1,710 | 2,892 | 3,686 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Investment securities | 3,070 | 3,235 | 3,650 | 4,123 | 4,730 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Current assets | 46,675 | 48,625 | 42,501 | 38,687 | 35,116 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Current liabilities | 4,124 | 4,403 | 3,570 | 4,174 | 4,134 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Trade payables | 977 | — | — | — | — | S100OF4Q |
| Total liabilities | 8,604 | 8,863 | 7,891 | 8,421 | 7,727 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Non-controlling interests | 7 | 9 | 10 | 11 | 9 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Equity attributable to owners of parent | 55,000 | 56,229 | 54,628 | 54,875 | 56,385 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Retained earnings | 54,119 | 55,720 | 56,425 | 51,955 | 53,381 | S100S3UR, S100US9L, S100W2RN, S100YFFT |
| Treasury stock | -2,892 | -3,264 | -5,571 | -854 | -769 | S100S3UR, S100US9L, S100W2RN, S100YFFT |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 17% | S100YFFT |
| Receivables | 5% | S100YFFT |
| Property, plant and equipment | 35% | S100YFFT |
| Intangibles and goodwill | 6% | S100YFFT |
| Investment securities | 7% | S100YFFT |
| Other assets | 30% | S100YFFT |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 11% | S100YFFT |
| Equity | 89% | S100YFFT |
| Other liabilities | 0% | S100YFFT |

### 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 | 64,334 | 66,632 | 65,066 | 66,605 | 68,670 |
| Equity | 55,663 | 57,768 | 57,175 | 58,183 | 60,942 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 14,781 | 20,403 | 18,805 | 13,429 | 11,749 |

## 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) | 88.7% | S100YFFT |
| Fixed assets ÷ total assets | 35.2% | S100YFFT |
| Goodwill ÷ parent equity | — | —, S100YFFT |

### 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) | 17.1% |
| Cash ÷ revenue | 43.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 351.2% |
| Cash vs. profit gap | 2,007 JPY mn (of net income 93.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 33.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 26.5% |
| Investing CF relative to operating CF | 115.0% |

## 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 | 7.6% | 0.39× | 3.0% | 1.17× | 3.5% | S100S3UR |
| 2023 | 8.9% | 0.43× | 3.8% | 1.18× | 4.5% | S100US9L |
| 2024 | 6.8% | 0.41× | 2.8% | 1.19× | 3.3% | S100W2RN |
| 2025 | 4.9% | 0.41× | 2.0% | 1.20× | 2.5% | S100YFFT |
| 2026 | 7.9% | 0.40× | 3.2% | 1.22× | 3.9% | S100YFFT |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社日器 | Major shareholder | 38.8% | 2026-03-31 |
| ＴＨＥ ＳＦＰ ＶＡＬＵＥ ＲＥＡＬＩＺＡＴＩＯＮ ＭＡＳＴＥＲ ＦＵＮＤ ＬＴＤ． （常任代理人 立花証券株式会社） | Major shareholder | 9.9% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（リテール信託口・株式管理） | Major shareholder | 6.6% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 5.3% | 2026-03-31 |
| 御器谷 春子 | Major shareholder | 3.7% | 2026-03-31 |
| 高田 揚子 | Major shareholder | 3.4% | 2026-03-31 |
| 有限会社ミキヤコ―ポレ―ション | Major shareholder | 3.0% | 2026-03-31 |
| ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ 385642 （常任代理人 株式会社みずほ銀行） | Major shareholder | 2.9% | 2026-03-31 |
| 有限会社ミキヤエンタ―プライズ | Major shareholder | 2.2% | 2026-03-31 |
| 日東工器従業員持株会 | Major shareholder | 2.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第70期(2025/04/01－2026/03/31) | S100YFFT | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFFT,, |
| 有価証券報告書－第69期(2024/04/01－2025/03/31) | S100W2RN | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2RN,, |
| 訂正有価証券報告書－第68期(2023/04/01－2024/03/31) | S100US9L | 2024-11-14 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100US9L,, |
| 訂正有価証券報告書－第67期(2022/04/01－2023/03/31) | S100S3UR | 2023-11-07 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S3UR,, |
| 有価証券報告書－第66期(令和3年4月1日－令和4年3月31日) | S100OF4Q | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OF4Q,, |
| 有価証券報告書－第65期(令和2年4月1日－令和3年3月31日) | S100LLHE | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LLHE,, |

## 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).