# OHMORI CO.,LTD.: business model and financials

> Latest period: FY ending Jul 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第59期(2024/08/01－2025/07/31) (S100WWZA)
> Page: https://vizora.meequs.com/en/company/ohmori
> Retrieved: 2026-09-30T18:50:51.444Z

## Company

Ohmori, founded in 1967, is a company in Leasing listed on TSE Standard. It has 135 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OHMORI CO.,LTD. |
| Ticker | 1844 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1844.T) |
| Listing | TSE Standard |
| Head office | 東京都千代田区神田多町二丁目1番地 |
| Representative (per filing) | 代表取締役社長 栗城 幹雄 |
| Founded | Jun 1967 |
| Share capital | ¥3.1B |
| Employees (consolidated) | 135 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | July |
| Website | www.ohmori.co.jp (https://www.ohmori.co.jp/) |
| Corporate number | 9011801002605 |
| EDINET | E00239 |
| Industries (Vizora) | Leasing, Plant Engineering & Building Services, Real Estate Development & Leasing, General Contractors |

> Profile source: annual securities report (S100WWZA, filed 2025-10-28). As of filing

## Five-axis industry profile

Primary industry: General Contractors (2025-07-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 47 | 84 |
| Profitability | 88.6 | 92 |
| Cash conversion | 8.2 | 91 |
| Efficiency | 6 | 92 |

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 75% of Ohmori's sales come from Construction projects, with Real estate business and OLY original business making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed +7.7% from the prior year, operating profit +26.2%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥6.44B |  |
| Operating income | ¥785.1M | Margin 12.2% |
| Net income | ¥518.6M | Margin 8.0% |
| Free cash flow | -¥1.04B |  |
| Largest business | Construction projects | of segment revenue 74.7% |
| Employees (consolidated) | 135 |  |
| EPS | ¥26.04 |  |
| Diluted EPS | ¥25.5 |  |
| Book value per share | ¥299.68 |  |
| Equity ratio | 48.8% |  |
| Shares outstanding | 18,672,849 |  |
| Treasury shares | 18,600 |  |
| Shareholders | 21,173 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |
| Cash ratio | 20.0% | Cash ÷ revenue 37.4% |
| Vs. industry median margin | +5.3 pp | General Contractors |
| ROE | 9.1% | Derived from disclosed figures |
| ROA | 4.3% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 64% of positive segment profit
- FY2025, employees -1% while operating income rose 26%

## What changed in 5 years

| Metric | FY ending Jul 2020 | FY ending Jul 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥5187425000 | ¥6443842000 | +24.2% |
| Operating income | ¥540069000 | ¥785075000 | +45.4% |
| Operating margin | 10.4% | 12.2% | +1.8 pp |
| Employees | 101 people | 135 people | +33.7% |
| Cash and equivalents | ¥2354184000 | ¥2411022000 | +2.4% |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 建設事業 → 建設事業 | 74.7% |
| 建設事業 → 事業再編・廃止 | 1.9% |
| 不動産事業等 → 事業再編・廃止 | 16.1% |
| 通信関連事業 → 通信関連事業 | 7.0% |
| 通信関連事業 → 事業再編・廃止 | 0.2% |
| その他 → 事業再編・廃止 | 0.1% |
| 新設・再編 → 不動産事業 | 9.3% |
| 新設・再編 → ＯＬＹ事業 | 9.0% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Construction projects | 5 years | +3.9% | ¥4814967000 | 10.5% | 2 |
| Real estate business | 2 years | +3.1% | ¥600356000 | 19.4% | 2 |
| OLY original business | 2 years | -9.4% | ¥579173000 | 15.5% | 2 |
| Telecommunication related businesses | 5 years | +3.8% | ¥449345000 | 16.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,444 | 100.0% | S100WWZA |
| Cost of revenue | 5,093 | 79.0% | S100WWZA |
| Gross profit | 1,351 | 21.0% | S100WWZA |
| SG&A | 566 | 8.8% | S100WWZA |
| Operating income | 785 | 12.2% | S100WWZA |
| Ordinary income | 760 | 11.8% | S100WWZA |
| Pretax income | 760 | 11.8% | S100WWZA |
| Income tax | 241 | 3.7% | S100WWZA |
| Net income | 519 | 8.0% | S100WWZA |
| Net income attributable to owners | 519 | 8.0% | S100WWZA |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 79 |
| SG&A | 9 |
| Operating income | 12 |
| (Ref.) Net income | 8 |

### Margin funnel

Gross margin 21.0% → Operating margin 12.2% → Net margin 8.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +7.7%; Core profit growth: +26.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 3.40×
Calculated from comparable annual consolidated filings.

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,982 | 6,444 | 462 | +7.7% |
| Gross profit | 1,189 | 1,351 | 162 | +13.6% |
| Operating income | 622 | 785 | 163 | +26.2% |
| Net income attributable to owners | 414 | 519 | 104 | +25.2% |
| Operating cash flow | 1,476 | -871 | -2,347 | -159.0% |
| Free cash flow | 1,408 | -1,042 | -2,449 | -174.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jul 2019 | 5,976 | 434 | 7.3% | 158 | -811 | -842 | S100JWT3 |
| FY ending Jul 2020 | 5,187 | 540 | 10.4% | 337 | 189 | 165 | S100MLKF |
| FY ending Jul 2021 | 4,955 | 325 | 6.6% | 243 | 334 | 281 | S100PDQW |
| FY ending Jul 2022 | 5,245 | 314 | 6.0% | 255 | 504 | 453 | S100S2HA |
| FY ending Jul 2023 | 6,054 | 452 | 7.5% | 293 | -1,950 | -2,092 | S100UJRV |
| FY ending Jul 2024 | 5,982 | 622 | 10.4% | 414 | 1,476 | 1,408 | S100WWZA |
| FY ending Jul 2025 | 6,444 | 785 | 12.2% | 519 | -871 | -1,042 | S100WWZA |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥47.7M |
| Operating income per employee (consolidated) | ¥5.8M |
| Net income per employee (consolidated) | ¥3.8M |

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

| History | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 114 | 131 | 140 | 136 | 135 |
| Average salary (parent company) | ¥6.9M | ¥7.2M | ¥6.9M | ¥7.1M | ¥6.8M |
| Average age (parent company) | 39.6 years | 39.8 years | 39.6 years | 37.5 years | 36.7 years |
| Average tenure (parent company) | 9.3 years | 9.9 years | 9.4 years | 8.6 years | 9.1 years |

Year over year: Employees (consolidated) -0.7% · Revenue (consolidated) +7.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Construction projects | 4,815 | 74.7% | 504 | 10.5% |
| Real estate business | 600 | 9.3% | 117 | 19.4% |
| OLY original business | 579 | 9.0% | 90 | 15.5% |
| Telecommunication related businesses | 449 | 7.0% | 75 | 16.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Construction projects | 74.7% | 64.1% | -10.6 | 10.5% |
| Real estate business | 9.3% | 14.9% | 5.6 | 19.4% |
| OLY original business | 9.0% | 11.4% | 2.4 | 15.5% |
| Telecommunication related businesses | 7.0% | 9.6% | 2.6 | 16.7% |

Segment → industry: OLY original business → Leasing / Telecommunication related businesses → Plant Engineering & Building Services / Real estate business → Real Estate Development & Leasing / Construction projects → General Contractors

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -871 | -13.5% | S100WWZA |
| Capital expenditure | 170 | 2.6% | S100WWZA |
| Free cash flow | -1,042 | -16.2% | 算出 |
| Investing cash flow | -194 | -3.0% | S100WWZA |
| Financing cash flow | 123 | 1.9% | S100WWZA |
| Dividends paid | 187 | 2.9% | S100WWZA |
| Change in cash | -942 | -14.6% | S100WWZA |
| Cash and equivalents | 2,411 | 37.4% | S100WWZA |

## 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 Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,296 | 2,602 | 2,309 | 3,353 | 2,411 | S100S2HA, S100UJRV, S100WWZA |
| Total assets | 8,854 | 9,538 | 11,406 | 11,931 | 12,037 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Net assets | 4,303 | 4,482 | 5,145 | 5,618 | 5,950 | S100S2HA, S100UJRV, S100WWZA |
| Share capital | 2,769 | 2,779 | 3,001 | 3,101 | 3,101 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Property, plant and equipment | 1,046 | 1,031 | 714 | 703 | 814 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Intangible assets excluding goodwill | 99 | 69 | 39 | 1 | 1 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Goodwill | 96 | 67 | 38 | — | — | S100PDQW, S100S2HA, S100UJRV |
| Current assets | 7,423 | 8,162 | 10,395 | 10,870 | 10,769 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Current liabilities | 1,548 | 2,085 | 2,194 | 2,935 | 2,013 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Short-term borrowings | 370 | 322 | 347 | 687 | 291 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Long-term borrowings | 2,972 | 2,920 | 4,009 | 3,313 | 4,019 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Total liabilities | 4,551 | 5,057 | 6,262 | 6,313 | 6,087 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Equity attributable to owners of parent | 4,231 | 4,403 | 5,065 | 5,540 | 5,871 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Retained earnings | 810 | 960 | 1,179 | 1,453 | 1,785 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |
| Treasury stock | -54 | -54 | -54 | -54 | -54 | S100PDQW, S100S2HA, S100UJRV, S100WWZA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100WWZA |
| Property, plant and equipment | 7% | S100WWZA |
| Intangibles and goodwill | 0% | S100WWZA |
| Other assets | 73% | S100WWZA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 51% | S100WWZA |
| Equity | 49% | S100WWZA |
| Other liabilities | 0% | S100WWZA |

### Balance sheet history

| Metric | FY ending Jul 2021 | FY ending Jul 2022 | FY ending Jul 2023 | FY ending Jul 2024 | FY ending Jul 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 8,854 | 9,538 | 11,406 | 11,931 | 12,037 |
| Equity | 4,303 | 4,482 | 5,145 | 5,618 | 5,950 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,296 | 2,602 | 2,309 | 3,353 | 2,411 |

## 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) | 12.6% | S100WWZA |
| Fixed assets ÷ total assets | 6.8% | S100WWZA |
| Goodwill ÷ parent equity | — | —, S100WWZA |

### 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) | 20.0% |
| Cash ÷ revenue | 37.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | -111.0% |
| Cash vs. profit gap | -1,390 JPY mn (of net income -268.0%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 36.0% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.6% |
| Investing CF relative to operating CF | — |

## 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 | 4.9% | 0.56× | 2.7% | 2.09× | 5.7% | S100PDQW |
| 2022 | 4.9% | 0.57× | 2.8% | 2.13× | 5.9% | S100S2HA |
| 2023 | 4.8% | 0.58× | 2.8% | 2.21× | 6.2% | S100UJRV |
| 2024 | 6.9% | 0.51× | 3.6% | 2.20× | 7.8% | S100WWZA |
| 2025 | 8.0% | 0.54× | 4.3% | 2.10× | 9.1% | S100WWZA |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| WINBASE TECHNOLOGIES LIMITED （常任代理人 垣鍔公良） | Major shareholder | 5.6% | 2025-07-31 |
| 高野 廣克 | Major shareholder | 3.4% | 2025-07-31 |
| 株式会社プラス | Major shareholder | 2.8% | 2025-07-31 |
| 石原 勝 | Major shareholder | 2.3% | 2025-07-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG（FE-AC） （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.6% | 2025-07-31 |
| 有限会社広栄企画 | Major shareholder | 1.2% | 2025-07-31 |
| モルガン・スタンレーMUFG証券株式会社 | Major shareholder | 1.1% | 2025-07-31 |
| 大盛工業役員持株会 理事長 福井 龍一 | Major shareholder | 1.1% | 2025-07-31 |
| 株式会社日本カストディ銀行 （信託口） | Major shareholder | 1.0% | 2025-07-31 |
| 東京短資株式会社 | Major shareholder | 0.9% | 2025-07-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第59期(2024/08/01－2025/07/31) | S100WWZA | 2025-10-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WWZA,, |
| 有価証券報告書－第58期(2023/08/01－2024/07/31) | S100UJRV | 2024-10-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100UJRV,, |
| 有価証券報告書－第57期(2022/08/01－2023/07/31) | S100S2HA | 2023-10-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100S2HA,, |
| 有価証券報告書－第56期(令和3年8月1日－令和4年7月31日) | S100PDQW | 2022-10-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PDQW,, |
| 有価証券報告書－第55期(令和2年8月1日－令和3年7月31日) | S100MLKF | 2021-10-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MLKF,, |
| 有価証券報告書－第54期(令和1年8月1日－令和2年7月31日) | S100JWT3 | 2020-10-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100JWT3,, |

## 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).