# NOHMI BOSAI 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82期(2025/04/01－2026/03/31) (S100YHTN)
> Page: https://vizora.meequs.com/en/company/nohmi-bosai
> Retrieved: 2026-09-30T20:45:03.226Z

## Company

Nohmi Bosai, founded in 1916, is a company in Disaster Prevention & Infrastructure Maintenance listed on TSE Prime. It has 3,251 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NOHMI BOSAI LTD. |
| Ticker | 6744 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6744.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区九段南四丁目7番3号 |
| Representative (per filing) | 代表取締役社長 長谷川 雅弘 |
| Founded | Dec 1916 |
| Share capital | ¥13.3B |
| Employees (consolidated) | 3,251 |
| Average salary (parent only) | ¥6.9M |
| Fiscal year end | March |
| Website | www.nohmi.co.jp (https://www.nohmi.co.jp/) |
| Corporate number | 5010001008739 |
| EDINET | E01803 |
| Industries (Vizora) | Disaster Prevention & Infrastructure Maintenance |

> Profile source: annual securities report (S100YHTN, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Disaster Prevention & Infrastructure Maintenance (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 44.3 | 35 |
| Profitability | 76.3 | 40 |
| Cash conversion | 51.3 | 38 |
| Efficiency | 38.8 | 40 |

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 37% of Nohmi Bosai's sales come from Fire alarm system, with Fire extinguishing system and Maintenance and inspection making up much of the rest.
- Out of every ¥100 of sales, about ¥13 is left as operating profit.
- Revenue changed +4.5% from the prior year, operating profit +17.0%.

## Company structure

- Segment revenue mix: Fire alarm system 36.5%、Fire extinguishing system 33.6%、Maintenance and inspection 26.3%、Other 3.6%
- Revenue → net income: ¥139657000000 → ¥13649000000
- Net income → operating cash flow: ¥13649000000 → ¥14552000000（difference ¥903000000）
- Main uses of operating cash flow: CapEx ¥5231000000 / dividends ¥5660000000 / buybacks —
- Change in cash: ¥-8047000000
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 | ¥139.7B |  |
| Operating income | ¥18.3B | Margin 13.1% |
| Net income | ¥13.6B | Margin 9.8% |
| Free cash flow | ¥9.32B |  |
| Largest business | Fire alarm system | of segment revenue 36.5% |
| Employees (consolidated) | 3,251 |  |
| EPS | ¥187.4 |  |
| Book value per share | ¥1770.57 |  |
| Equity ratio | 76.2% |  |
| Shares outstanding | 60,832,771 |  |
| Treasury shares | 1,868,100 |  |
| Shareholders | 3,935 |  |
| Average salary (parent only) | ¥6.9M | Filing company only |
| Cash ratio | 19.0% | Cash ÷ revenue 24.8% |
| Vs. industry median margin | +4.4 pp | Disaster Prevention & Infrastructure Maintenance |
| ROE | 10.7% | Derived from disclosed figures |
| ROA | 7.8% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥107897000000 | ¥139657000000 | +29.4% |
| Operating income | ¥11053000000 | ¥18349000000 | +66.0% |
| Operating margin | 10.2% | 13.1% | +2.9 pp |
| Employees | 2,606 people | 3,251 people | +24.8% |
| Cash and equivalents | ¥50959000000 | ¥34589000000 | -32.1% |

### 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 |
| --- | ---: |
| 火災報知設備 → 火災報知設備 | 35.2% |
| 消火設備 → 消火設備 | 33.6% |
| 消火設備 → 事業再編・廃止 | 2.0% |
| 保守点検等 → 保守点検等 | 24.7% |
| その他 → その他 | 3.6% |
| その他 → 事業再編・廃止 | 0.9% |
| 新設・再編 → 火災報知設備 | 1.4% |
| 新設・再編 → 保守点検等 | 1.6% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Fire alarm system | 5 years | +6.1% | ¥51017000000 | 19.5% | 2 |
| Fire extinguishing system | 5 years | +4.1% | ¥46873000000 | 23.1% | 2 |
| Maintenance and inspection | 5 years | +6.6% | ¥36734000000 | 21.7% | 2 |
| Other | 5 years | +0.8% | ¥5032000000 | 9.4% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 139,657 | 100.0% | S100YHTN |
| Cost of revenue | 87,338 | 62.5% | S100YHTN |
| Gross profit | 52,318 | 37.5% | S100YHTN |
| SG&A | 33,968 | 24.3% | S100YHTN |
| Operating income | 18,349 | 13.1% | S100YHTN |
| Ordinary income | 19,361 | 13.9% | S100YHTN |
| Pretax income | 19,608 | 14.0% | S100YHTN |
| Income tax | 5,958 | 4.3% | S100YHTN |
| Net income | 13,649 | 9.8% | S100YHTN |
| Net income attributable to owners | 13,648 | 9.8% | S100YHTN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 63 |
| SG&A | 24 |
| Operating income | 13 |
| (Ref.) Net income | 10 |

### Margin funnel

Gross margin 37.5% → Operating margin 13.1% → Net margin 9.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.5%; Core profit growth: +17.0%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.82×
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 | 133,696 | 139,657 | 5,961 | +4.5% |
| Gross profit | 46,453 | 52,318 | 5,865 | +12.6% |
| Operating income | 15,677 | 18,349 | 2,672 | +17.0% |
| Net income attributable to owners | 11,098 | 13,648 | 2,550 | +23.0% |
| Operating cash flow | 11,547 | 14,552 | 3,005 | +26.0% |
| Free cash flow | 9,309 | 9,321 | 12 | +0.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 117,294 | 15,139 | 12.9% | 10,516 | 9,406 | 7,293 | S100LQMC |
| FY ending Mar 2021 | 107,897 | 11,053 | 10.2% | 7,620 | 15,829 | 11,601 | S100OI0W |
| FY ending Mar 2022 | 112,913 | 12,633 | 11.2% | 9,351 | 3,559 | -635 | S100R0ZL |
| FY ending Mar 2023 | 105,537 | 8,879 | 8.4% | 7,022 | 5,194 | 2,169 | S100TNPC |
| FY ending Mar 2024 | 118,506 | 11,662 | 9.8% | 8,574 | 3,279 | 793 | S100W3FC |
| FY ending Mar 2025 | 133,696 | 15,677 | 11.7% | 11,098 | 11,547 | 9,309 | S100YHTN |
| FY ending Mar 2026 | 139,657 | 18,349 | 13.1% | 13,648 | 14,552 | 9,321 | S100YHTN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥43M |
| Operating income per employee (consolidated) | ¥5.6M |
| Net income per employee (consolidated) | ¥4.2M |

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) | 2,635 | 2,673 | 2,766 | 2,875 | 3,251 |
| Average salary (parent company) | ¥6.3M | ¥6.3M | ¥6.1M | ¥6.4M | ¥6.9M |
| Average age (parent company) | 40.7 years | 40.6 years | 40.8 years | 40.0 years | 39.4 years |
| Average tenure (parent company) | 16.8 years | 15.8 years | 16.2 years | 15.7 years | 14.8 years |

Year over year: Employees (consolidated) +13.1% · Revenue (consolidated) +4.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Fire alarm system | 51,017 | 36.5% | 9,958 | 19.5% |
| Fire extinguishing system | 46,873 | 33.6% | 10,842 | 23.1% |
| Maintenance and inspection | 36,734 | 26.3% | 7,979 | 21.7% |
| Other | 5,032 | 3.6% | 473 | 9.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Fire alarm system | 36.5% | 34.0% | -2.5 | 19.5% |
| Fire extinguishing system | 33.6% | 37.1% | 3.5 | 23.1% |
| Maintenance and inspection | 26.3% | 27.3% | 1.0 | 21.7% |
| Other | 3.6% | 1.6% | -2.0 | 9.4% |

Segment → industry: Maintenance and inspection → Disaster Prevention & Infrastructure Maintenance / Fire extinguishing system → Disaster Prevention & Infrastructure Maintenance / Fire alarm system → Disaster Prevention & Infrastructure Maintenance

## 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 | 14,552 | 10.4% | S100YHTN |
| Capital expenditure | 5,231 | 3.7% | S100YHTN |
| Free cash flow | 9,321 | 6.7% | 算出 |
| Investing cash flow | -15,866 | -11.4% | S100YHTN |
| Financing cash flow | -6,789 | -4.9% | S100YHTN |
| Dividends paid | 5,660 | 4.1% | S100YHTN |
| Change in cash | -8,047 | -5.8% | S100YHTN |
| Cash and equivalents | 34,589 | 24.8% | S100YHTN |

## 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 | 47,507 | 47,684 | 45,550 | 42,637 | 34,589 | S100TNPC, S100W3FC, S100YHTN |
| Total assets | 148,599 | 151,602 | 157,485 | 166,877 | 181,811 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Net assets | 111,891 | 116,635 | 125,166 | 130,030 | 138,986 | S100TNPC, S100W3FC, S100YHTN |
| Share capital | 13,302 | 13,302 | 13,302 | 13,302 | 13,302 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Property, plant and equipment | 22,900 | 23,709 | 23,868 | 23,378 | 29,155 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Intangible assets excluding goodwill | 2,996 | 3,082 | 3,382 | 4,912 | 9,587 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Goodwill | 8 | 74 | 58 | 792 | 3,828 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Investment securities | 7,314 | 7,550 | 10,074 | 9,755 | 13,592 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Current assets | 107,225 | 108,655 | 111,318 | 117,150 | 117,172 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Current liabilities | 27,804 | 25,672 | 24,826 | 30,032 | 34,982 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Trade payables | 4,359 | 4,305 | 4,430 | 4,830 | 6,259 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Short-term borrowings | 4 | — | — | 150 | — | S100R0ZL, S100YHTN |
| Bonds | 9 | — | — | — | — | S100R0ZL |
| Total liabilities | 36,708 | 34,966 | 32,318 | 36,846 | 42,824 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Non-controlling interests | 1,640 | 1,693 | 1,527 | 1,195 | 432 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Equity attributable to owners of parent | 109,045 | 113,797 | 119,784 | 123,627 | 131,569 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Retained earnings | 83,094 | 87,820 | 93,796 | 101,312 | 109,301 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |
| Treasury stock | -272 | -263 | -259 | -3,931 | -3,914 | S100R0ZL, S100TNPC, S100W3FC, S100YHTN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YHTN |
| Property, plant and equipment | 16% | S100YHTN |
| Intangibles and goodwill | 7% | S100YHTN |
| Investment securities | 8% | S100YHTN |
| Other assets | 50% | S100YHTN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YHTN |
| Other liabilities | 20% | S100YHTN |
| Equity | 77% | S100YHTN |
| Other liabilities | 0% | S100YHTN |

### 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 | 148,599 | 151,602 | 157,485 | 166,877 | 181,811 |
| Equity | 111,891 | 116,635 | 125,166 | 130,030 | 138,986 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 47,507 | 47,684 | 45,550 | 42,637 | 34,589 |

## 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) | 20.9% | S100YHTN |
| Fixed assets ÷ total assets | 16.0% | S100YHTN |
| Goodwill ÷ parent equity | 2.9% | S100YHTN |

Goodwill over 4 years: 8 → 3,828 JPY; total investing cash flow: -33,100 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) | 19.0% |
| Cash ÷ revenue | 24.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 79.3% |
| Cash vs. profit gap | 904 JPY mn (of net income 6.6%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 41.5% |
| Shareholder payments — dividends / FCF | 60.7% |
| CapEx intensity (capex ÷ revenue) | 3.7% |
| Investing CF relative to operating CF | 109.0% |

## 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 | 8.3% | 0.76× | 6.3% | 1.36× | 8.6% | S100R0ZL |
| 2023 | 6.7% | 0.70× | 4.7% | 1.35× | 6.3% | S100TNPC |
| 2024 | 7.2% | 0.77× | 5.5% | 1.32× | 7.3% | S100W3FC |
| 2025 | 8.3% | 0.82× | 6.8% | 1.33× | 9.1% | S100YHTN |
| 2026 | 9.8% | 0.80× | 7.8% | 1.37× | 10.7% | S100YHTN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| セコム株式会社 | Major shareholder | 51.9% | 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 | 6.1% | 2026-03-31 |
| 能美防災代理店持株会 | Major shareholder | 4.0% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 3.2% | 2026-03-31 |
| 能美防災取引先持株会 | Major shareholder | 2.4% | 2026-03-31 |
| CEPLUX- THE INDEPENDENT UCITS PLATFORM 2(常任代理人 シティバンク、 エヌ・エイ東京支店) | Major shareholder | 1.7% | 2026-03-31 |
| 能美防災従業員持株会 | Major shareholder | 1.7% | 2026-03-31 |
| THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.6% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 1.3% | 2026-03-31 |
| 能美防災安衛協持株会 | Major shareholder | 1.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第82期(2025/04/01－2026/03/31) | S100YHTN | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHTN,, |
| 有価証券報告書－第81期(2024/04/01－2025/03/31) | S100W3FC | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3FC,, |
| 有価証券報告書－第80期(2023/04/01－2024/03/31) | S100TNPC | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNPC,, |
| 有価証券報告書－第79期(2022/04/01－2023/03/31) | S100R0ZL | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R0ZL,, |
| 有価証券報告書－第78期(令和3年4月1日－令和4年3月31日) | S100OI0W | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OI0W,, |
| 有価証券報告書－第77期(令和2年4月1日－令和3年3月31日) | S100LQMC | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQMC,, |

## 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).