# NS TOOL 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65期(2025/04/01－2026/03/31) (S100YG7J)
> Page: https://vizora.meequs.com/en/company/ns-tool
> Retrieved: 2026-09-30T21:31:02.708Z

## Company

NS Tool, founded in 1961, is a company in Machine Tools listed on TSE Standard. It has 364 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NS TOOL CO.,LTD. |
| Ticker | 6157 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6157.T) |
| Listing | TSE Standard |
| Head office | 東京都品川区南大井四丁目5番9号 |
| Representative (per filing) | 代表取締役社長 後藤 弘治 |
| Founded | Sep 1961 |
| Share capital | ¥455.3M |
| Employees (consolidated) | 364 |
| Average salary (parent only) | ¥6.6M |
| Fiscal year end | March |
| Website | www.ns-tool.com (https://www.ns-tool.com/) |
| Corporate number | 4010701007545 |
| EDINET | E01729 |
| Industries (Vizora) | Machine Tools |

> Profile source: annual securities report (S100YG7J, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Machine Tools (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 25 | 34 |
| Profitability | 89.7 | 34 |
| Cash conversion | 30.6 | 31 |
| Efficiency | 19.1 | 34 |

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)

- NS Tool brought in ¥9.49B in revenue.
- Out of every ¥100 of sales, about ¥21 is left as operating profit.
- Revenue changed +0.7% from the prior year, operating profit +10.9%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥9494091000 → ¥1442177000
- Net income → operating cash flow: ¥1442177000 → ¥2138394000（difference ¥696217000）
- Main uses of operating cash flow: CapEx ¥486522000 / dividends ¥747914000 / buybacks ¥1307751000
- Change in cash: ¥-300656000
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 | ¥9.49B |  |
| Operating income | ¥1.96B | Margin 20.6% |
| Net income | ¥1.44B | Margin 15.2% |
| Free cash flow | ¥1.65B |  |
| Employees (consolidated) | 364 |  |
| EPS | ¥48.88 |  |
| Diluted EPS | ¥48.49 |  |
| Book value per share | ¥627.4 |  |
| Equity ratio | 90.1% |  |
| Shares outstanding | 25,035,034 |  |
| Treasury shares | 1,552,900 |  |
| Shareholders | 11,878 |  |
| Average salary (parent only) | ¥6.6M | Filing company only |
| Cash ratio | 48.3% | Cash ÷ revenue 99.7% |
| Vs. industry median margin | +13.5 pp | Machine Tools |
| ROE | 8.1% | Derived from disclosed figures |
| ROA | 7.3% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.7× dividends
- FY2026, cash is 48% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥8100276000 | ¥9494091000 | +17.2% |
| Operating income | ¥1512823000 | ¥1959640000 | +29.5% |
| Operating margin | 18.7% | 20.6% | +2 pp |
| Employees | 339 people | 364 people | +7.4% |
| Cash and equivalents | ¥7274235000 | ¥9467559000 | +30.2% |

### 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.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 9,494 | 100.0% | S100YG7J |
| Cost of revenue | 4,233 | 44.6% | S100YG7J |
| Gross profit | 5,261 | 55.4% | S100YG7J |
| SG&A | 3,302 | 34.8% | S100YG7J |
| Operating income | 1,960 | 20.6% | S100YG7J |
| Ordinary income | 2,011 | 21.2% | S100YG7J |
| Pretax income | 2,015 | 21.2% | S100YG7J |
| Income tax | 572 | 6.0% | S100YG7J |
| Net income | 1,442 | 15.2% | S100YG7J |
| Net income attributable to owners | 1,442 | 15.2% | S100YG7J |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 44 |
| SG&A | 35 |
| Operating income | 21 |
| (Ref.) Net income | 15 |

### Margin funnel

Gross margin 55.4% → Operating margin 20.6% → Net margin 15.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +0.7%; Core profit growth: +10.9%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 16.30×
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 | 9,431 | 9,494 | 63 | +0.7% |
| Gross profit | 4,983 | 5,261 | 278 | +5.6% |
| Operating income | 1,767 | 1,960 | 192 | +10.9% |
| Net income attributable to owners | 1,265 | 1,442 | 177 | +14.0% |
| Operating cash flow | 2,011 | 2,138 | 127 | +6.3% |
| Free cash flow | 1,900 | 1,652 | -248 | -13.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 9,531 | 2,219 | 23.3% | 1,546 | 1,909 | 153 | S100LM7W |
| FY ending Mar 2021 | 8,100 | 1,513 | 18.7% | 1,214 | 2,526 | 2,064 | S100ODLZ |
| FY ending Mar 2022 | 9,525 | 2,112 | 22.2% | 1,523 | 2,261 | 1,602 | S100R27L |
| FY ending Mar 2023 | 9,657 | 2,109 | 21.8% | 1,475 | 1,614 | 928 | S100TQ24 |
| FY ending Mar 2024 | 9,040 | 1,867 | 20.7% | 1,320 | 1,835 | 1,271 | S100W51Q |
| FY ending Mar 2025 | 9,431 | 1,767 | 18.7% | 1,265 | 2,011 | 1,900 | S100YG7J |
| FY ending Mar 2026 | 9,494 | 1,960 | 20.6% | 1,442 | 2,138 | 1,652 | S100YG7J |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥26.1M |
| Operating income per employee (consolidated) | ¥5.4M |
| Net income per employee (consolidated) | ¥4M |

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) | 348 | 352 | 350 | 358 | 364 |
| Average salary (parent company) | ¥6.2M | ¥6.2M | ¥6.3M | ¥6.4M | ¥6.6M |
| Average age (parent company) | 37.3 years | 37.6 years | 38.0 years | 38.6 years | 38.5 years |
| Average tenure (parent company) | 12.1 years | 12.6 years | 13.0 years | 13.5 years | 13.7 years |

Year over year: Employees (consolidated) +1.7% · Revenue (consolidated) +0.7%

## 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 | 2,138 | 22.5% | S100YG7J |
| Capital expenditure | 487 | 5.1% | S100YG7J |
| Free cash flow | 1,652 | 17.4% | 算出 |
| Investing cash flow | -380 | -4.0% | S100YG7J |
| Financing cash flow | -2,056 | -21.7% | S100YG7J |
| Dividends paid | 748 | 7.9% | S100YG7J |
| Share buyback | 1,308 | 13.8% | S100YG7J |
| Change in cash | -301 | -3.2% | S100YG7J |
| Cash and equivalents | 9,468 | 99.7% | S100YG7J |

## 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 | 8,443 | 8,397 | 8,794 | 9,768 | 9,468 | S100TQ24, S100W51Q, S100YG7J |
| Total assets | 17,874 | 18,858 | 19,241 | 19,942 | 19,595 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Net assets | 16,166 | 17,201 | 17,729 | 18,416 | 17,851 | S100TQ24, S100W51Q, S100YG7J |
| Share capital | 455 | 455 | 455 | 455 | 455 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Trade receivables | 1,323 | 1,356 | 1,305 | 1,393 | 1,418 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Property, plant and equipment | 5,435 | 5,412 | 5,361 | 4,842 | 4,765 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Intangible assets excluding goodwill | 33 | 28 | 25 | 16 | 28 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Investment securities | 51 | 28 | 30 | 32 | 40 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Current assets | 11,808 | 12,298 | 12,720 | 13,792 | 13,459 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Current liabilities | 1,483 | 1,432 | 1,287 | 1,301 | 1,523 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Total liabilities | 1,708 | 1,657 | 1,512 | 1,526 | 1,744 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Equity attributable to owners of parent | 15,945 | 16,930 | 17,441 | 18,086 | 17,520 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Retained earnings | 15,272 | 16,169 | 16,782 | 17,347 | 18,013 | S100R27L, S100TQ24, S100W51Q, S100YG7J |
| Treasury stock | -201 | -113 | -215 | -135 | -1,367 | S100R27L, S100TQ24, S100W51Q, S100YG7J |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 48% | S100YG7J |
| Receivables | 7% | S100YG7J |
| Property, plant and equipment | 25% | S100YG7J |
| Intangibles and goodwill | 0% | S100YG7J |
| Investment securities | 0% | S100YG7J |
| Other assets | 20% | S100YG7J |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 9% | S100YG7J |
| Equity | 91% | S100YG7J |

### 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 | 17,874 | 18,858 | 19,241 | 19,942 | 19,595 |
| Equity | 16,166 | 17,201 | 17,729 | 18,416 | 17,851 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 8,443 | 8,397 | 8,794 | 9,768 | 9,468 |

## 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) | 50.2% | S100YG7J |
| Fixed assets ÷ total assets | 24.3% | S100YG7J |
| Goodwill ÷ parent equity | — | —, S100YG7J |

### 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) | 48.3% |
| Cash ÷ revenue | 99.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 109.1% |
| Cash vs. profit gap | 696 JPY mn (of net income 48.3%) |
| Shareholder returns / net income | 142.5% |
| Shareholder returns / FCF | 124.4% |
| Shareholder payments — dividends / net income | 51.9% |
| Shareholder payments — dividends / FCF | 45.3% |
| CapEx intensity (capex ÷ revenue) | 5.1% |
| Investing CF relative to operating CF | 17.8% |

## 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 | 16.0% | 0.53× | 8.5% | 1.12× | 9.5% | S100R27L |
| 2023 | 15.3% | 0.53× | 8.0% | 1.12× | 9.0% | S100TQ24 |
| 2024 | 14.6% | 0.47× | 6.9% | 1.11× | 7.7% | S100W51Q |
| 2025 | 13.4% | 0.48× | 6.5% | 1.10× | 7.1% | S100YG7J |
| 2026 | 15.2% | 0.48× | 7.3% | 1.11× | 8.1% | S100YG7J |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社エムワイコーポレーション | Major shareholder | 10.6% | 2026-03-31 |
| 株式会社ソルプティ | Major shareholder | 10.4% | 2026-03-31 |
| NORTHERN TRUST CO．(AVFC) RE FIDELITY FUNDS （常任代理人 香港上海銀行東京支店） | Major shareholder | 8.9% | 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 | 7.9% | 2026-03-31 |
| 株式会社ティ・アイロード | Major shareholder | 7.9% | 2026-03-31 |
| 後藤 弘治 | Major shareholder | 3.4% | 2026-03-31 |
| BANK LOMBARD ODIER AND CO LTD GENEVA （常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 3.3% | 2026-03-31 |
| 後藤 隆司 | Major shareholder | 3.3% | 2026-03-31 |
| 後藤 勇二 | Major shareholder | 2.8% | 2026-03-31 |
| 日進工具従業員持株会 | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第65期(2025/04/01－2026/03/31) | S100YG7J | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG7J,, |
| 有価証券報告書－第64期(2024/04/01－2025/03/31) | S100W51Q | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W51Q,, |
| 有価証券報告書－第63期(2023/04/01－2024/03/31) | S100TQ24 | 2024-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQ24,, |
| 有価証券報告書－第62期(2022/04/01－2023/03/31) | S100R27L | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R27L,, |
| 有価証券報告書－第61期(令和3年4月1日－令和4年3月31日) | S100ODLZ | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODLZ,, |
| 有価証券報告書－第60期(令和2年4月1日－令和3年3月31日) | S100LM7W | 2021-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LM7W,, |

## 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).