# Nomura Micro Science 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57期(2025/04/01－2026/03/31) (S100YG4U)
> Page: https://vizora.meequs.com/en/company/nomura-micro-science
> Retrieved: 2026-09-30T19:52:05.771Z

## Company

Nomura Micro Science, founded in 1969, is a company in Semiconductor Equipment listed on TSE Prime. It has 623 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Nomura Micro Science Co.,Ltd. |
| Ticker | 6254 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6254.T) |
| Listing | TSE Prime |
| Head office | 神奈川県厚木市岡田二丁目9番10号 |
| Representative (per filing) | 代表取締役社長執行役員 内田 誠 |
| Founded | Apr 1969 |
| Share capital | ¥2.24B |
| Employees (consolidated) | 623 |
| Average salary (parent only) | ¥8.9M |
| Fiscal year end | March |
| Website | www.nomura-nms.co.jp (https://www.nomura-nms.co.jp/) |
| Corporate number | 2021001020322 |
| EDINET | E01735 |
| Industries (Vizora) | Semiconductor Equipment, Plant Engineering & Building Services |

> Profile source: annual securities report (S100YG4U, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 91 | 72 |
| Profitability | 75.7 | 76 |
| Cash conversion | 41.2 | 74 |
| Efficiency | 4.6 | 76 |

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 Nomura Micro Science's sales come from Japan, with United states of America and Korea making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed -41.6% from the prior year, operating profit -56.6%.

## Company structure

- Segment revenue mix: Japan 45.8%、United states of America 17.9%、Korea 16.3%、China 13.7%、Taiwan 6.3%
- Revenue → net income: ¥56245860000 → ¥3818172000
- Net income → operating cash flow: ¥3818172000 → ¥4363668000（difference ¥545496000）
- Main uses of operating cash flow: CapEx ¥1390451000 / dividends ¥3028240000 / buybacks ¥34000
- Change in cash: ¥-6606204000
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 | ¥56.2B |  |
| Operating income | ¥6.67B | Margin 11.9% |
| Net income | ¥3.82B | Margin 6.8% |
| Free cash flow | ¥2.97B |  |
| Largest business | Japan | of segment revenue 45.8% |
| Employees (consolidated) | 623 |  |
| EPS | ¥110.03 |  |
| Diluted EPS | ¥107.91 |  |
| Book value per share | ¥573.21 |  |
| Equity ratio | 35.6% |  |
| Shares outstanding | 40,608,000 |  |
| Treasury shares | 2,319,200 |  |
| Shareholders | 27,385 |  |
| Average salary (parent only) | ¥8.9M | Filing company only |
| Cash ratio | 9.0% | Cash ÷ revenue 17.7% |
| Vs. industry median margin | -2.6 pp | Semiconductor Equipment |
| ROE | 10.7% | Derived from disclosed figures |
| ROA | 3.4% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +25% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥30361431000 | ¥56245860000 | +85.3% |
| Operating income | ¥3972959000 | ¥6667477000 | +67.8% |
| Operating margin | 13.1% | 11.9% | -1.2 pp |
| Employees | 447 people | 623 people | +39.4% |
| Cash and equivalents | ¥7962468000 | ¥9933446000 | +24.8% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 45.8% |
| 日本 → 事業再編・廃止 | 0.8% |
| アジア → 事業再編・廃止 | 26.6% |
| 韓国 → 韓国 | 10.4% |
| 中国 → 中国 | 10.3% |
| 台湾 → 台湾 | 5.9% |
| 米国 → 米国 | 0.2% |
| 新設・再編 → 韓国 | 5.9% |
| 新設・再編 → 中国 | 3.3% |
| 新設・再編 → 台湾 | 0.4% |
| 新設・再編 → 米国 | 17.7% |

Segment revenue source references: 11 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +6.0% | ¥25768973000 | 12.0% | 2 |
| United states of America | 5 years | +165.5% | ¥10078899000 | 23.4% | 2 |
| Korea | 5 years | +16.4% | ¥9158146000 | 4.4% | 2 |
| China | 5 years | +12.5% | ¥7687184000 | 1.2% | 2 |
| Taiwan | 5 years | +7.7% | ¥3535796000 | 21.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 56,246 | 100.0% | S100YG4U |
| Cost of revenue | 43,539 | 77.4% | S100YG4U |
| Gross profit | 12,707 | 22.6% | S100YG4U |
| SG&A | 6,040 | 10.7% | S100YG4U |
| Operating income | 6,667 | 11.9% | S100YG4U |
| Ordinary income | 5,629 | 10.0% | S100YG4U |
| Pretax income | 5,646 | 10.0% | S100YG4U |
| Income tax | 1,828 | 3.2% | S100YG4U |
| Net income | 3,818 | 6.8% | S100YG4U |
| Net income attributable to owners | 3,818 | 6.8% | S100YG4U |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 77 |
| SG&A | 11 |
| Operating income | 12 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 22.6% → Operating margin 11.9% → Net margin 6.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -41.6%; Core profit growth: -56.6%
Operating leverage (core profit growth ÷ revenue growth): 1.36×
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 | 96,360 | 56,246 | -40,114 | -41.6% |
| Gross profit | 21,110 | 12,707 | -8,403 | -39.8% |
| Operating income | 15,372 | 6,667 | -8,705 | -56.6% |
| Net income attributable to owners | 10,200 | 3,818 | -6,381 | -62.6% |
| Operating cash flow | -20,203 | 4,364 | 24,566 | — |
| Free cash flow | -22,368 | 2,973 | 25,342 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 21,049 | 1,846 | 8.8% | 1,273 | -238 | -324 | S100LOE7 |
| FY ending Mar 2021 | 30,361 | 3,973 | 13.1% | 2,618 | 5,955 | 5,800 | S100OES2 |
| FY ending Mar 2022 | 31,901 | 4,433 | 13.9% | 3,292 | 1,132 | 771 | S100R12E |
| FY ending Mar 2023 | 49,596 | 6,550 | 13.2% | 5,807 | 4,682 | 3,654 | S100TSXZ |
| FY ending Mar 2024 | 73,021 | 10,648 | 14.6% | 7,978 | -18,663 | -19,019 | S100W3YM |
| FY ending Mar 2025 | 96,360 | 15,372 | 16.0% | 10,200 | -20,203 | -22,368 | S100YG4U |
| FY ending Mar 2026 | 56,246 | 6,667 | 11.9% | 3,818 | 4,364 | 2,973 | S100YG4U |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥90.3M |
| Operating income per employee (consolidated) | ¥10.7M |
| Net income per employee (consolidated) | ¥6.1M |

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) | 457 | 513 | 545 | 580 | 623 |
| Average salary (parent company) | ¥7.1M | ¥8.4M | ¥9.3M | ¥9.4M | ¥8.9M |
| Average age (parent company) | 43.6 years | 43.3 years | 42.3 years | 41.5 years | 41.4 years |
| Average tenure (parent company) | 13.6 years | 13.3 years | 12.1 years | 11.9 years | 11.5 years |

Year over year: Employees (consolidated) +7.4% · Revenue (consolidated) -41.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 25,769 | 45.8% | 3,083 | 12.0% |
| Korea | 9,158 | 16.3% | 402 | 4.4% |
| China | 7,687 | 13.7% | 94 | 1.2% |
| Taiwan | 3,536 | 6.3% | 754 | 21.3% |
| United states of America | 10,079 | 17.9% | 2,355 | 23.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 45.8% | 46.1% | 0.3 | 12.0% |
| Korea | 16.3% | 6.0% | -10.3 | 4.4% |
| China | 13.7% | 1.4% | -12.3 | 1.2% |
| Taiwan | 6.3% | 11.3% | 5.0 | 21.3% |
| United states of America | 17.9% | 35.2% | 17.3 | 23.4% |

Segment → industry: Japan → Semiconductor Equipment / Japan → Plant Engineering & Building Services / Korea → Semiconductor Equipment / Korea → Plant Engineering & Building Services / China → Semiconductor Equipment / China → Plant Engineering & Building Services / Taiwan → Semiconductor Equipment / Taiwan → Plant Engineering & Building Services / United states of America → Semiconductor Equipment / United states of America → Plant Engineering & Building Services

## 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 | 4,364 | 7.8% | S100YG4U |
| Capital expenditure | 1,390 | 2.5% | S100YG4U |
| Free cash flow | 2,973 | 5.3% | 算出 |
| Investing cash flow | -1,150 | -2.0% | S100YG4U |
| Financing cash flow | -6,909 | -12.3% | S100YG4U |
| Dividends paid | 3,028 | 5.4% | S100YG4U |
| Share buyback | 0 | 0.0% | S100YG4U |
| Change in cash | -6,606 | -11.7% | S100YG4U |
| Cash and equivalents | 9,933 | 17.7% | S100YG4U |

## 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 | 8,448 | 13,216 | 11,860 | 16,540 | 9,933 | S100TSXZ, S100W3YM, S100YG4U |
| Total assets | 27,091 | 41,919 | 70,603 | 116,783 | 110,290 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Net assets | 15,932 | 21,401 | 28,924 | 37,014 | 39,853 | S100TSXZ, S100W3YM, S100YG4U |
| Share capital | 2,237 | 2,237 | 2,237 | 2,237 | 2,237 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Property, plant and equipment | 1,923 | 2,917 | 3,058 | 4,958 | 6,263 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Intangible assets excluding goodwill | 161 | 133 | 105 | 119 | 80 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Investment securities | 531 | 534 | 794 | 846 | 1,060 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Current assets | 23,361 | 37,180 | 65,505 | 108,990 | 99,987 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Current liabilities | 10,720 | 20,044 | 41,281 | 78,895 | 68,214 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Trade payables | 4,513 | 7,342 | 9,231 | 9,251 | 7,761 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Short-term borrowings | 2,654 | 3,443 | 22,380 | 52,158 | 51,066 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Total liabilities | 11,159 | 20,518 | 41,679 | 79,769 | 70,437 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Equity attributable to owners of parent | 14,793 | 19,921 | 26,684 | 34,930 | 36,717 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Retained earnings | 10,865 | 15,703 | 22,097 | 29,736 | 30,522 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |
| Treasury stock | -454 | -407 | -372 | -330 | -279 | S100R12E, S100TSXZ, S100W3YM, S100YG4U |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 9% | S100YG4U |
| Property, plant and equipment | 6% | S100YG4U |
| Intangibles and goodwill | 0% | S100YG4U |
| Investment securities | 1% | S100YG4U |
| Other assets | 84% | S100YG4U |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100YG4U |
| Other liabilities | 57% | S100YG4U |
| Equity | 36% | S100YG4U |
| Other liabilities | 0% | S100YG4U |

### 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 | 27,091 | 41,919 | 70,603 | 116,783 | 110,290 |
| Equity | 15,932 | 21,401 | 28,924 | 37,014 | 39,853 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 8,448 | 13,216 | 11,860 | 16,540 | 9,933 |

## 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) | 11.1% | S100YG4U |
| Fixed assets ÷ total assets | 5.7% | S100YG4U |
| Goodwill ÷ parent equity | — | —, S100YG4U |

### 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) | 9.0% |
| Cash ÷ revenue | 17.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 65.4% |
| Cash vs. profit gap | 545 JPY mn (of net income 14.3%) |
| Shareholder returns / net income | 79.3% |
| Shareholder returns / FCF | 101.9% |
| Shareholder payments — dividends / net income | 79.3% |
| Shareholder payments — dividends / FCF | 101.9% |
| CapEx intensity (capex ÷ revenue) | 2.5% |
| Investing CF relative to operating CF | 26.3% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 10.3% | 1.18× | 12.1% | 1.83× | 22.2% | S100R12E |
| 2023 | 11.7% | 1.44× | 16.8% | 1.99× | 33.5% | S100TSXZ |
| 2024 | 10.9% | 1.30× | 14.2% | 2.41× | 34.2% | S100W3YM |
| 2025 | 10.6% | 1.03× | 10.9% | 3.04× | 33.1% | S100YG4U |
| 2026 | 6.8% | 0.50× | 3.4% | 3.17× | 10.7% | S100YG4U |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 北興化学工業株式会社 | Major shareholder | 11.0% | 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 | 8.1% | 2026-03-31 |
| 野村殖産株式会社 | Major shareholder | 3.1% | 2026-03-31 |
| 株式会社りそな銀行 | Major shareholder | 3.1% | 2026-03-31 |
| 千田 豊作 | Major shareholder | 3.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.4% | 2026-03-31 |
| カツラギ工業株式会社 | Major shareholder | 2.3% | 2026-03-31 |
| ノムラ・ジャパン株式会社 | Major shareholder | 2.1% | 2026-03-31 |
| 国土防災技術株式会社 | Major shareholder | 1.5% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第57期(2025/04/01－2026/03/31) | S100YG4U | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG4U,, |
| 有価証券報告書－第56期(2024/04/01－2025/03/31) | S100W3YM | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W3YM,, |
| 有価証券報告書－第55期(2023/04/01－2024/03/31) | S100TSXZ | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSXZ,, |
| 有価証券報告書－第54期(2022/04/01－2023/03/31) | S100R12E | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R12E,, |
| 有価証券報告書－第53期(令和3年4月1日－令和4年3月31日) | S100OES2 | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OES2,, |
| 有価証券報告書－第52期(令和2年4月1日－令和3年3月31日) | S100LOE7 | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LOE7,, |

## 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).