# NITTO SEIKO CO.,LTD.: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第120期(2025/01/01－2025/12/31) (S100XVV3)
> Page: https://vizora.meequs.com/en/company/nitto-seiko
> Retrieved: 2026-09-30T21:18:25.606Z

## Company

Nitto Seiko, founded in 1938, is a company in Robots & Factory Automation listed on TSE Prime. It has 2,267 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NITTOSEIKO CO.,LTD. |
| Ticker | 5957 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5957.T) |
| Listing | TSE Prime |
| Head office | 京都府綾部市井倉町梅ヶ畑20番地 |
| Representative (per filing) | 代表取締役社長 荒賀 誠 |
| Founded | Feb 1938 |
| Share capital | ¥3.52B |
| Employees (consolidated) | 2,267 |
| Average salary (parent only) | ¥5.8M |
| Fiscal year end | December |
| Website | www.nittoseiko.co.jp (https://www.nittoseiko.co.jp/) |
| Corporate number | 2130001041813 |
| EDINET | E02296 |
| Industries (Vizora) | Robots & Factory Automation, Medical Devices, Industrial Machinery |

> Profile source: annual securities report (S100XVV3, filed 2026-03-31). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 68.6 | 110 |
| Profitability | 43.9 | 122 |
| Cash conversion | 40.9 | 116 |
| Efficiency | 79.1 | 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 74% of Nitto Seiko's sales come from Fastener, with Control System and Machinery making up much of the rest.
- Out of every ¥100 of sales, about ¥7 is left as operating profit.
- Revenue changed +6.7% from the prior year, operating profit +3.2%.

## Company structure

- Segment revenue mix: Fastener 73.9%、Control System 13.4%、Machinery 12.5%、Medical 0.3%
- Revenue → net income: ¥50238187000 → ¥2388906000
- Net income → operating cash flow: ¥2388906000 → ¥2930344000（difference ¥541438000）
- Main uses of operating cash flow: CapEx ¥1744653000 / dividends ¥737045000 / buybacks ¥209000
- Change in cash: ¥-174523000
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 | ¥50.2B |  |
| Operating income | ¥3.43B | Margin 6.8% |
| Net income | ¥2.15B | Margin 4.3% |
| Free cash flow | ¥1.19B |  |
| Largest business | Fastener | of segment revenue 73.9% |
| Employees (consolidated) | 2,267 |  |
| EPS | ¥56.3 |  |
| Book value per share | ¥739.22 |  |
| Equity ratio | 63.0% |  |
| Shares outstanding | 39,985,017 |  |
| Treasury shares | 3,132,900 |  |
| Shareholders | 9,538 |  |
| Average salary (parent only) | ¥5.8M | Filing company only |
| Cash ratio | 16.4% | Cash ÷ revenue 18.8% |
| Vs. industry median margin | -0.7 pp | Industrial Machinery |
| ROE | 6.5% | Derived from disclosed figures |
| ROA | 3.8% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 64% of positive segment profit

## What changed in 5 years

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥32904538000 | ¥50238187000 | +52.7% |
| Operating income | ¥1303731000 | ¥3431865000 | +163.2% |
| Operating margin | 4.0% | 6.8% | +2.9 pp |
| Employees | 1,856 people | 2,267 people | +22.1% |
| Cash and equivalents | ¥8299433000 | ¥9430124000 | +13.6% |

### Change in segment revenue mix

Span: FY ending Dec 2020 → FY ending Dec 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| ファスナー → ファスナー | 71.0% |
| 産機 → 産機 | 12.5% |
| 産機 → 事業再編・廃止 | 4.1% |
| 制御 → 制御 | 12.2% |
| メディカル → メディカル | 0.2% |
| 新設・再編 → ファスナー | 2.8% |
| 新設・再編 → 制御 | 1.2% |
| 新設・再編 → メディカル | 0.1% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Fastener | 5 years | +9.7% | ¥37103355000 | 6.1% | 2 |
| Control System | 5 years | +10.9% | ¥6714476000 | 7.5% | 2 |
| Machinery | 5 years | +2.8% | ¥6274432000 | 12.1% | 2 |
| Medical | 5 years | +14.8% | ¥145922000 | -71.0% | 2 |

## Income statement（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 50,238 | 100.0% | S100XVV3 |
| Cost of revenue | 38,193 | 76.0% | S100XVV3 |
| Gross profit | 12,045 | 24.0% | S100XVV3 |
| SG&A | 8,614 | 17.1% | S100XVV3 |
| Operating income | 3,432 | 6.8% | S100XVV3 |
| Ordinary income | 3,409 | 6.8% | S100XVV3 |
| Pretax income | 3,575 | 7.1% | S100XVV3 |
| Income tax | 1,186 | 2.4% | S100XVV3 |
| Net income | 2,389 | 4.8% | S100XVV3 |
| Net income attributable to owners | 2,152 | 4.3% | S100XVV3 |

## Per ¥100 of revenue（FY ending Dec 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 76 |
| SG&A | 17 |
| Operating income | 7 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 24.0% → Operating margin 6.8% → Net margin 4.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +6.7%; Core profit growth: +3.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.47×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Dec 2024 → FY ending Dec 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 47,070 | 50,238 | 3,168 | +6.7% |
| Gross profit | 11,241 | 12,045 | 805 | +7.2% |
| Operating income | 3,327 | 3,432 | 105 | +3.2% |
| Net income attributable to owners | 2,200 | 2,152 | -47 | -2.2% |
| Operating cash flow | 3,708 | 2,930 | -778 | -21.0% |
| Free cash flow | 2,771 | 1,186 | -1,585 | -57.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 34,857 | 2,597 | 7.5% | 1,937 | 2,634 | 878 | S100L316 |
| FY ending Dec 2020 | 32,905 | 1,304 | 4.0% | 765 | 3,369 | 1,911 | S100NS97 |
| FY ending Dec 2021 | 40,519 | 3,250 | 8.0% | 2,200 | 3,650 | 2,728 | S100QIFE |
| FY ending Dec 2022 | 44,021 | 2,932 | 6.7% | 1,829 | 999 | -40 | S100T5WK |
| FY ending Dec 2023 | 44,744 | 2,614 | 5.8% | 1,735 | 3,151 | 2,020 | S100VIG0 |
| FY ending Dec 2024 | 47,070 | 3,327 | 7.1% | 2,200 | 3,708 | 2,771 | S100XVV3 |
| FY ending Dec 2025 | 50,238 | 3,432 | 6.8% | 2,152 | 2,930 | 1,186 | S100XVV3 |

## People and productivity（FY ending Dec 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥22.2M |
| Operating income per employee (consolidated) | ¥1.5M |
| Net income per employee (consolidated) | ¥949.3K |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,888 | 1,990 | 1,940 | 1,912 | 2,267 |
| Average salary (parent company) | ¥5.6M | ¥5.5M | ¥5.4M | ¥5.6M | ¥5.8M |
| Average age (parent company) | 42.5 years | 42.8 years | 42.8 years | 42.2 years | 42.3 years |
| Average tenure (parent company) | 20.5 years | 20.8 years | 20.7 years | 20.2 years | 19.8 years |

Year over year: Employees (consolidated) +18.6% · Revenue (consolidated) +6.7%

## Segments（FY ending Dec 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Fastener | 37,103 | 73.9% | 2,271 | 6.1% |
| Machinery | 6,274 | 12.5% | 760 | 12.1% |
| Control System | 6,714 | 13.4% | 504 | 7.5% |
| Medical | 146 | 0.3% | -104 | -71.0% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Fastener | 73.9% | 64.2% | -9.6 | 6.1% |
| Machinery | 12.5% | 21.5% | 9.0 | 12.1% |
| Control System | 13.4% | 14.3% | 0.9 | 7.5% |
| Medical | 0.3% | — | — | -71.0% |

Loss-making segment (excluded from profit shares): Medical -104 JPY mn

Segment → industry: Control System → Robots & Factory Automation / Machinery → Robots & Factory Automation / Medical → Medical Devices / Fastener → Industrial Machinery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Dec 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,930 | 5.8% | S100XVV3 |
| Capital expenditure | 1,745 | 3.5% | S100XVV3 |
| Free cash flow | 1,186 | 2.4% | 算出 |
| Investing cash flow | -2,733 | -5.4% | S100XVV3 |
| Financing cash flow | -424 | -0.8% | S100XVV3 |
| Dividends paid | 737 | 1.5% | S100XVV3 |
| Share buyback | 0 | 0.0% | S100XVV3 |
| Change in cash | -175 | -0.3% | S100XVV3 |
| Cash and equivalents | 9,430 | 18.8% | S100XVV3 |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 10,436 | 8,306 | 8,027 | 9,605 | 9,430 | S100T5WK, S100VIG0, S100XVV3 |
| Total assets | 50,924 | 53,408 | 53,344 | 55,604 | 57,673 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Net assets | 32,702 | 34,502 | 36,403 | 38,592 | 41,002 | S100T5WK, S100VIG0, S100XVV3 |
| Share capital | 3,523 | 3,523 | 3,523 | 3,523 | 3,523 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Trade receivables | 8,577 | 9,890 | 8,723 | 8,126 | 8,064 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Property, plant and equipment | 13,092 | 14,086 | 14,130 | 14,003 | 15,661 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Intangible assets excluding goodwill | 1,281 | 1,147 | 1,000 | 864 | 1,083 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Goodwill | 558 | 468 | 393 | 330 | 454 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Investment securities | 1,425 | 1,169 | 1,162 | 760 | 697 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Current assets | 32,646 | 34,343 | 33,823 | 36,505 | 35,850 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Current liabilities | 13,675 | 14,601 | 12,901 | 13,200 | 11,833 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Trade payables | 4,421 | 4,469 | 4,333 | 4,189 | 3,744 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Short-term borrowings | 2,611 | 2,437 | 1,574 | 1,325 | 1,715 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Long-term borrowings | 758 | 560 | 358 | 235 | 962 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Total liabilities | 18,222 | 18,906 | 16,941 | 17,013 | 16,671 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Non-controlling interests | 3,451 | 3,745 | 3,999 | 4,387 | 4,693 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Equity attributable to owners of parent | 29,261 | 30,485 | 31,361 | 32,538 | 33,985 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Retained earnings | 24,319 | 25,534 | 26,633 | 28,026 | 29,441 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |
| Treasury stock | -1,255 | -1,247 | -1,562 | -1,779 | -1,747 | S100QIFE, S100T5WK, S100VIG0, S100XVV3 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 16% | S100XVV3 |
| Receivables | 14% | S100XVV3 |
| Property, plant and equipment | 27% | S100XVV3 |
| Intangibles and goodwill | 3% | S100XVV3 |
| Investment securities | 1% | S100XVV3 |
| Other assets | 39% | S100XVV3 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100XVV3 |
| Other liabilities | 22% | S100XVV3 |
| Equity | 71% | S100XVV3 |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 50,924 | 53,408 | 53,344 | 55,604 | 57,673 |
| Equity | 32,702 | 34,502 | 36,403 | 38,592 | 41,002 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 10,436 | 8,306 | 8,027 | 9,605 | 9,430 |

## 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) | 31.2% | S100XVV3 |
| Fixed assets ÷ total assets | 27.2% | S100XVV3 |
| Goodwill ÷ parent equity | 1.3% | S100XVV3 |

Goodwill over 4 years: 558 → 454 JPY; total investing cash flow: -7,800 JPY. This does not imply causation.

### 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) | 16.4% |
| Cash ÷ revenue | 18.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 85.4% |
| Cash vs. profit gap | 778 JPY mn (of net income 36.2%) |
| Shareholder returns / net income | 34.3% |
| Shareholder returns / FCF | 62.2% |
| Shareholder payments — dividends / net income | 34.2% |
| Shareholder payments — dividends / FCF | 62.2% |
| CapEx intensity (capex ÷ revenue) | 3.5% |
| Investing CF relative to operating CF | 93.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 5.4% | 0.80× | 4.3% | 1.74× | 7.5% | S100QIFE |
| 2022 | 4.2% | 0.84× | 3.5% | 1.75× | 6.1% | S100T5WK |
| 2023 | 3.9% | 0.84× | 3.2% | 1.73× | 5.6% | S100VIG0 |
| 2024 | 4.7% | 0.86× | 4.0% | 1.71× | 6.9% | S100XVV3 |
| 2025 | 4.3% | 0.89× | 3.8% | 1.70× | 6.5% | S100XVV3 |

## 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 | 8.8% | 2025-12-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 7.4% | 2025-12-31 |
| 株式会社京都銀行 | Major shareholder | 4.9% | 2025-12-31 |
| ＩＮＴＥＲＡＣＴＩＶＥ ＢＲＯＫＥＲＳ ＬＬＣ （常任代理人 インタラクティブ・ブローカーズ証券株式会社） | Major shareholder | 3.2% | 2025-12-31 |
| 日東精工従業員持株会 | Major shareholder | 2.3% | 2025-12-31 |
| 株式会社東京鋲兼 | Major shareholder | 2.3% | 2025-12-31 |
| 株式会社三菱UFJ銀行 | Major shareholder | 2.2% | 2025-12-31 |
| 株式会社ユニタス | Major shareholder | 2.0% | 2025-12-31 |
| オリップ株式会社 | Major shareholder | 1.9% | 2025-12-31 |
| 日本生命保険相互会社 | Major shareholder | 1.7% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第120期(2025/01/01－2025/12/31) | S100XVV3 | 2026-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XVV3,, |
| 有価証券報告書－第119期(2024/01/01－2024/12/31) | S100VIG0 | 2025-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VIG0,, |
| 有価証券報告書－第118期(2023/01/01－2023/12/31) | S100T5WK | 2024-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T5WK,, |
| 有価証券報告書－第117期(2022/01/01－2022/12/31) | S100QIFE | 2023-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QIFE,, |
| 有価証券報告書－第116期(令和3年1月1日－令和3年12月31日) | S100NS97 | 2022-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NS97,, |
| 有価証券報告書－第115期(令和2年1月1日－令和2年12月31日) | S100L316 | 2021-03-31 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L316,, |

## 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).