# OHASHI TECHNICA INC.: 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74期(2025/04/01－2026/03/31) (S100YHS4)
> Page: https://vizora.meequs.com/en/company/ohashi-technica
> Retrieved: 2026-09-30T21:38:36.454Z

## Company

Ohashi Technica, founded in 1953, is a company in Auto Parts listed on TSE Prime. It has 721 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OHASHI TECHNICA INC. |
| Ticker | 7628 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7628.T) |
| Listing | TSE Prime |
| Head office | 東京都港区虎ノ門四丁目3番13号 |
| Representative (per filing) | 代表取締役社長 廣瀬 正也 |
| Founded | Mar 1953 |
| Share capital | ¥1.83B |
| Employees (consolidated) | 721 |
| Average salary (parent only) | ¥6.5M |
| Fiscal year end | March |
| Website | www.ohashi.co.jp (https://www.ohashi.co.jp/) |
| Corporate number | 1010401088566 |
| EDINET | E02905 |
| Industries (Vizora) | Auto Parts |

> Profile source: annual securities report (S100YHS4, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 48.6 | 110 |
| Profitability | 68.9 | 111 |
| Cash conversion | 19 | 108 |
| Efficiency | 30.2 | 111 |

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 47% of Ohashi Technica's sales come from Japan, with Americas and ASEAN making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +2.3% from the prior year, operating profit +36.1%.

## Company structure

- Segment revenue mix: Japan 47.5%、Americas 33.6%、ASEAN 7.4%、China 5.4%、Europe 3.5%
- Revenue → net income: ¥40918164000 → ¥2093858000
- Net income → operating cash flow: ¥2093858000 → ¥2520222000（difference ¥426364000）
- Main uses of operating cash flow: CapEx ¥1741640000 / dividends ¥914377000 / buybacks ¥292970000
- Change in cash: ¥587698000
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 | ¥40.9B |  |
| Operating income | ¥2.43B | Margin 5.9% |
| Net income | ¥2.08B | Margin 5.1% |
| Free cash flow | ¥778.6M |  |
| Largest business | Japan | of segment revenue 47.5% |
| Employees (consolidated) | 721 |  |
| EPS | ¥61.6 |  |
| Book value per share | ¥804.38 |  |
| Equity ratio | 84.2% |  |
| Shares outstanding | 25,781,920 |  |
| Treasury shares | 315,700 |  |
| Shareholders | 10,028 |  |
| Average salary (parent only) | ¥6.5M | Filing company only |
| Cash ratio | 36.6% | Cash ÷ revenue 43.0% |
| Vs. industry median margin | +1.2 pp | Auto Parts |
| ROE | 6.6% | Derived from disclosed figures |
| ROA | 4.3% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -2% while operating income rose 36%
- FY2026, cash is 37% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥29782276000 | ¥40918164000 | +37.4% |
| Operating income | ¥2105599000 | ¥2426621000 | +15.2% |
| Operating margin | 7.1% | 5.9% | -1.1 pp |
| Employees | 733 people | 721 people | -1.6% |
| Cash and equivalents | ¥21361928000 | ¥17603599000 | -17.6% |

### 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 | 47.5% |
| 日本 → 事業再編・廃止 | 5.7% |
| 米州 → 米州 | 20.4% |
| 中国 → 中国 | 5.4% |
| 中国 → 事業再編・廃止 | 9.3% |
| アセアン → アセアン | 6.6% |
| 欧州 → 欧州 | 2.8% |
| 台湾 → 台湾 | 2.3% |
| 新設・再編 → 米州 | 13.1% |
| 新設・再編 → アセアン | 0.8% |
| 新設・再編 → 欧州 | 0.8% |
| 新設・再編 → 台湾 | 0.3% |

Segment revenue source references: 12 (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 | +4.2% | ¥19943418000 | 4.9% | 2 |
| Americas | 5 years | +17.7% | ¥14109055000 | 6.3% | 2 |
| ASEAN | 5 years | +9.2% | ¥3105281000 | 14.6% | 2 |
| China | 5 years | -12.7% | ¥2273076000 | -4.1% | 2 |
| Europe | 5 years | +11.9% | ¥1487332000 | 11.2% | 2 |
| Taiwan | 5 years | +8.9% | ¥1087204000 | 2.8% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 40,918 | 100.0% | S100YHS4 |
| Cost of revenue | 32,060 | 78.4% | S100YHS4 |
| Gross profit | 8,858 | 21.6% | S100YHS4 |
| SG&A | 6,431 | 15.7% | S100YHS4 |
| Operating income | 2,427 | 5.9% | S100YHS4 |
| Ordinary income | 2,967 | 7.3% | S100YHS4 |
| Pretax income | 3,132 | 7.7% | S100YHS4 |
| Income tax | 1,039 | 2.5% | S100YHS4 |
| Net income | 2,094 | 5.1% | S100YHS4 |
| Net income attributable to owners | 2,085 | 5.1% | S100YHS4 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 16 |
| Operating income | 6 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 21.6% → Operating margin 5.9% → Net margin 5.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.3%; Core profit growth: +36.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 16.04×
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 | 40,017 | 40,918 | 901 | +2.3% |
| Gross profit | 8,384 | 8,858 | 473 | +5.6% |
| Operating income | 1,783 | 2,427 | 644 | +36.1% |
| Net income attributable to owners | 1,523 | 2,085 | 562 | +36.9% |
| Operating cash flow | 2,762 | 2,520 | -242 | -8.7% |
| Free cash flow | 1,332 | 779 | -553 | -41.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 35,905 | 3,266 | 9.1% | 2,461 | 3,297 | 2,435 | S100LQFI |
| FY ending Mar 2021 | 29,782 | 2,106 | 7.1% | 1,540 | 2,123 | 1,297 | S100OE4T |
| FY ending Mar 2022 | 32,545 | 2,273 | 7.0% | 1,791 | 568 | -440 | S100R1C8 |
| FY ending Mar 2023 | 34,975 | 2,062 | 5.9% | 1,283 | 601 | -173 | S100TQPC |
| FY ending Mar 2024 | 39,213 | 1,641 | 4.2% | 1,007 | 2,654 | 1,525 | S100W297 |
| FY ending Mar 2025 | 40,017 | 1,783 | 4.5% | 1,523 | 2,762 | 1,332 | S100YHS4 |
| FY ending Mar 2026 | 40,918 | 2,427 | 5.9% | 2,085 | 2,520 | 779 | S100YHS4 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥56.8M |
| Operating income per employee (consolidated) | ¥3.4M |
| Net income per employee (consolidated) | ¥2.9M |

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) | 736 | 753 | 756 | 736 | 721 |
| Average salary (parent company) | ¥6.3M | ¥6.3M | ¥6.4M | ¥6.9M | ¥6.5M |
| Average age (parent company) | 44.8 years | 45.0 years | 46.0 years | 46.0 years | 45.0 years |
| Average tenure (parent company) | 15.4 years | 15.0 years | 16.0 years | 16.0 years | 15.0 years |

Year over year: Employees (consolidated) -2.0% · Revenue (consolidated) +2.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 19,943 | 47.5% | 977 | 4.9% |
| Americas | 14,109 | 33.6% | 888 | 6.3% |
| China | 2,273 | 5.4% | -94 | -4.1% |
| ASEAN | 3,105 | 7.4% | 454 | 14.6% |
| Europe | 1,487 | 3.5% | 167 | 11.2% |
| Taiwan | 1,087 | 2.6% | 30 | 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 47.5% | 38.8% | -8.6 | 4.9% |
| Americas | 33.6% | 35.3% | 1.7 | 6.3% |
| China | 5.4% | — | — | -4.1% |
| ASEAN | 7.4% | 18.0% | 10.6 | 14.6% |
| Europe | 3.5% | 6.6% | 3.1 | 11.2% |
| Taiwan | 2.6% | 1.2% | -1.4 | 2.8% |

Loss-making segment (excluded from profit shares): China -94 JPY mn

Segment → industry: Taiwan → Auto Parts / Europe → Auto Parts / ASEAN → Auto Parts / China → Auto Parts / Americas → Auto Parts / Japan → Auto Parts

## 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 | 2,520 | 6.2% | S100YHS4 |
| Capital expenditure | 1,742 | 4.3% | S100YHS4 |
| Free cash flow | 779 | 1.9% | 算出 |
| Investing cash flow | -889 | -2.2% | S100YHS4 |
| Financing cash flow | -1,348 | -3.3% | S100YHS4 |
| Dividends paid | 914 | 2.2% | S100YHS4 |
| Share buyback | 293 | 0.7% | S100YHS4 |
| Change in cash | 588 | 1.4% | S100YHS4 |
| Cash and equivalents | 17,604 | 43.0% | S100YHS4 |

## 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 | 20,209 | 19,820 | 16,376 | 17,016 | 17,604 | S100TQPC, S100W297, S100YHS4 |
| Total assets | 43,352 | 43,650 | 46,522 | 48,684 | 48,134 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Net assets | 33,449 | 35,565 | 37,260 | 39,654 | 41,059 | S100TQPC, S100W297, S100YHS4 |
| Share capital | 1,826 | 1,826 | 1,826 | 1,826 | 1,826 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Property, plant and equipment | 6,090 | 6,081 | 6,741 | 7,701 | 7,851 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Intangible assets excluding goodwill | 181 | 126 | 125 | 130 | 117 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Investment securities | 1,712 | 1,885 | 2,546 | 2,567 | 2,462 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Current assets | 34,601 | 34,871 | 36,511 | 37,642 | 37,241 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Current liabilities | 9,148 | 7,185 | 8,228 | 7,913 | 5,899 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Trade payables | 2,865 | 3,079 | 3,524 | 3,137 | 3,448 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Total liabilities | 9,904 | 8,085 | 9,262 | 9,030 | 7,075 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Non-controlling interests | 388 | 425 | 452 | 508 | 529 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Equity attributable to owners of parent | 31,267 | 31,354 | 31,167 | 31,283 | 32,160 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Retained earnings | 28,398 | 28,204 | 28,147 | 28,324 | 28,910 | S100R1C8, S100TQPC, S100W297, S100YHS4 |
| Treasury stock | -568 | -287 | -417 | -477 | -187 | S100R1C8, S100TQPC, S100W297, S100YHS4 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 37% | S100YHS4 |
| Property, plant and equipment | 16% | S100YHS4 |
| Intangibles and goodwill | 0% | S100YHS4 |
| Investment securities | 5% | S100YHS4 |
| Other assets | 42% | S100YHS4 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 7% | S100YHS4 |
| Other liabilities | 8% | S100YHS4 |
| Equity | 85% | S100YHS4 |
| Other liabilities | 0% | S100YHS4 |

### 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 | 43,352 | 43,650 | 46,522 | 48,684 | 48,134 |
| Equity | 33,449 | 35,565 | 37,260 | 39,654 | 41,059 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 20,209 | 19,820 | 16,376 | 17,016 | 17,604 |

## 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) | 19.2% | S100YHS4 |
| Fixed assets ÷ total assets | 16.3% | S100YHS4 |
| Goodwill ÷ parent equity | — | —, S100YHS4 |

### 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) | 36.6% |
| Cash ÷ revenue | 43.0% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 103.9% |
| Cash vs. profit gap | 436 JPY mn (of net income 20.9%) |
| Shareholder returns / net income | 57.9% |
| Shareholder returns / FCF | 155.1% |
| Shareholder payments — dividends / net income | 43.9% |
| Shareholder payments — dividends / FCF | 117.4% |
| CapEx intensity (capex ÷ revenue) | 4.3% |
| Investing CF relative to operating CF | 35.3% |

## 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 | 5.5% | 0.75× | 4.1% | 1.39× | 5.7% | S100R1C8 |
| 2023 | 3.7% | 0.80× | 2.9% | 1.39× | 4.1% | S100TQPC |
| 2024 | 2.6% | 0.87× | 2.2% | 1.44× | 3.2% | S100W297 |
| 2025 | 3.8% | 0.84× | 3.2% | 1.52× | 4.9% | S100YHS4 |
| 2026 | 5.1% | 0.85× | 4.3% | 1.53× | 6.6% | S100YHS4 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| オーハシテクニカ取引先持株会 | Major shareholder | 9.0% | 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 | 8.5% | 2026-03-31 |
| 日本生命保険相互会社 (常任代理人 日本マスタートラスト信託銀行株式会社) | Major shareholder | 5.1% | 2026-03-31 |
| SINOPACSEC (常任代理人 日産証券株式会社) | Major shareholder | 5.0% | 2026-03-31 |
| 株式会社みずほ銀行(常任代理人 株式会社日本カストディ銀行) | Major shareholder | 4.8% | 2026-03-31 |
| いちごトラスト・ピーティーイー・リミテッド(常任代理人 香港上海銀行東京支店) | Major shareholder | 4.3% | 2026-03-31 |
| 明治安田生命保険相互会社(常任代理人 株式会社日本カストディ銀行) | Major shareholder | 2.6% | 2026-03-31 |
| 株式会社佐賀鉄工所 | Major shareholder | 2.5% | 2026-03-31 |
| 阪村産業株式会社 | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社日新 | Major shareholder | 2.1% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第74期(2025/04/01－2026/03/31) | S100YHS4 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHS4,, |
| 有価証券報告書－第73期(2024/04/01－2025/03/31) | S100W297 | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W297,, |
| 有価証券報告書－第72期(2023/04/01－2024/03/31) | S100TQPC | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQPC,, |
| 有価証券報告書－第71期(2022/04/01－2023/03/31) | S100R1C8 | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R1C8,, |
| 有価証券報告書－第70期(令和3年4月1日－令和4年3月31日) | S100OE4T | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OE4T,, |
| 有価証券報告書－第69期(令和2年4月1日－令和3年3月31日) | S100LQFI | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQFI,, |

## 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).