# Oi Electric Co.,Ltd.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第102期(2025/04/01－2026/03/31) (S100YS21)
> Page: https://vizora.meequs.com/en/company/oi-electric
> Retrieved: 2026-09-30T21:35:17.523Z

## Company

Oi Electric, founded in 1950, is a company in Smartphones & Communications Equipment listed on TSE Standard. It has 944 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Oi Electric Co., Ltd. |
| Ticker | 6822 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6822.T) |
| Listing | TSE Standard |
| Head office | 神奈川県横浜市港北区菊名七丁目3番16号 |
| Representative (per filing) | 代表取締役社長 石田 甲 |
| Founded | Jan 1950 |
| Share capital | ¥2.71B |
| Employees (consolidated) | 944 |
| Average salary (parent only) | ¥7.3M |
| Fiscal year end | March |
| Website | www.ooi.co.jp (https://www.ooi.co.jp/) |
| Corporate number | 2020001019746 |
| EDINET | E01859 |
| Industries (Vizora) | Smartphones & Communications Equipment, Plant Engineering & Building Services |

> Profile source: annual securities report (S100YS21, filed 2026-07-24). As of filing

## Five-axis industry profile

Primary industry: Smartphones & Communications Equipment (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 45 | 10 |
| Profitability | 54.2 | 12 |
| Cash conversion | 40.9 | 11 |
| Efficiency | 95.8 | 12 |

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 63% of Oi Electric's sales come from Information and communication apparatus production sale business, with Network construction maintenance business making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +12.6% from the prior year, operating profit +19.4%.

## Company structure

- Segment revenue mix: Information and communication apparatus production sale business 63.4%、Network construction maintenance business 36.6%
- Revenue → net income: ¥32709583000 → ¥1498824000
- Net income → operating cash flow: ¥1498824000 → ¥1676933000（difference ¥178109000）
- Main uses of operating cash flow: CapEx ¥1043710000 / dividends ¥26757000 / buybacks ¥251000
- Change in cash: ¥493542000
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 | ¥32.7B |  |
| Operating income | ¥1.77B | Margin 5.4% |
| Net income | ¥1.37B | Margin 4.2% |
| Free cash flow | ¥633.2M |  |
| Largest business | Information and communication apparatus production sale business | of segment revenue 63.4% |
| Employees (consolidated) | 944 |  |
| EPS | ¥923.14 |  |
| Book value per share | ¥4266.07 |  |
| Equity ratio | 31.8% |  |
| Shares outstanding | 1,470,000 |  |
| Treasury shares | 132,300 |  |
| Shareholders | 1,135 |  |
| Average salary (parent only) | ¥7.3M | Filing company only |
| Cash ratio | 15.4% | Cash ÷ revenue 13.4% |
| Vs. industry median margin | +0.1 pp | Smartphones & Communications Equipment |
| ROE | 18.0% | Derived from disclosed figures |
| ROA | 5.3% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 78% of positive segment profit
- FY2026, employees 0% while operating income rose 19%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥29410371000 | ¥32709583000 | +11.2% |
| Operating income | ¥303392000 | ¥1771760000 | +484.0% |
| Operating margin | 1.0% | 5.4% | +4.4 pp |
| Employees | 1,019 people | 944 people | -7.4% |
| Cash and equivalents | ¥3007318000 | ¥4367711000 | +45.2% |

### 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.

| Flow | Revenue share |
| --- | ---: |
| 情報通信機器製造販売 → 情報通信機器製造販売 | 58.4% |
| ネットワーク工事保守 → ネットワーク工事保守 | 36.6% |
| ネットワーク工事保守 → 事業再編・廃止 | 5.0% |
| 新設・再編 → 情報通信機器製造販売 | 5.0% |

Segment revenue source references: 4 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 32,710 | 100.0% | S100YS21 |
| Cost of revenue | 26,234 | 80.2% | S100YS21 |
| Gross profit | 6,476 | 19.8% | S100YS21 |
| SG&A | 4,704 | 14.4% | S100YS21 |
| Operating income | 1,772 | 5.4% | S100YS21 |
| Ordinary income | 1,628 | 5.0% | S100YS21 |
| Pretax income | 1,620 | 5.0% | S100YS21 |
| Income tax | 121 | 0.4% | S100YS21 |
| Net income | 1,499 | 4.6% | S100YS21 |
| Net income attributable to owners | 1,373 | 4.2% | S100YS21 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 80 |
| SG&A | 14 |
| Operating income | 6 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 19.8% → Operating margin 5.4% → Net margin 4.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +12.6%; Core profit growth: +19.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 1.53×
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 | 29,046 | 32,710 | 3,663 | +12.6% |
| Gross profit | 5,768 | 6,476 | 707 | +12.3% |
| Operating income | 1,484 | 1,772 | 287 | +19.4% |
| Net income attributable to owners | 1,050 | 1,373 | 323 | +30.7% |
| Operating cash flow | 2,778 | 1,677 | -1,101 | -39.6% |
| Free cash flow | 2,284 | 633 | -1,651 | -72.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 25,315 | 569 | 2.2% | 524 | -2,004 | -2,273 | S100MVU4 |
| FY ending Mar 2021 | 29,410 | 303 | 1.0% | 140 | -1,115 | -1,758 | S100OT4B |
| FY ending Mar 2022 | 24,736 | -819 | -3.3% | -1,024 | -1,102 | -2,060 | S100R9UA |
| FY ending Mar 2023 | 22,927 | -467 | -2.0% | -812 | -1,519 | -1,930 | S100TX7E |
| FY ending Mar 2024 | 28,118 | 919 | 3.3% | 760 | 1,641 | 1,254 | S100W18N |
| FY ending Mar 2025 | 29,046 | 1,484 | 5.1% | 1,050 | 2,778 | 2,284 | S100YS21 |
| FY ending Mar 2026 | 32,710 | 1,772 | 5.4% | 1,373 | 1,677 | 633 | S100YS21 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34.6M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.5M |

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) | 1,021 | 1,004 | 983 | 948 | 944 |
| Average salary (parent company) | ¥6.5M | ¥6M | ¥5.6M | ¥6.2M | ¥7.3M |
| Average age (parent company) | 46.1 years | 45.7 years | 46.7 years | 46.9 years | 47.1 years |
| Average tenure (parent company) | 22.7 years | 22.0 years | 21.5 years | 20.9 years | 20.8 years |

Year over year: Employees (consolidated) -0.4% · Revenue (consolidated) +12.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Information and communication apparatus production sale business | 20,731 | 63.4% | 1,368 | 6.6% |
| Network construction maintenance business | 11,979 | 36.6% | 392 | 3.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Information and communication apparatus production sale business | 63.4% | 77.7% | 14.3 | 6.6% |
| Network construction maintenance business | 36.6% | 22.3% | -14.3 | 3.3% |

Segment → industry: Information and communication apparatus production sale business → Smartphones & Communications Equipment / Network construction maintenance business → 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 | 1,677 | 5.1% | S100YS21 |
| Capital expenditure | 1,044 | 3.2% | S100YS21 |
| Free cash flow | 633 | 1.9% | 算出 |
| Investing cash flow | -1,029 | -3.1% | S100YS21 |
| Financing cash flow | -155 | -0.5% | S100YS21 |
| Dividends paid | 27 | 0.1% | S100YS21 |
| Share buyback | 0 | 0.0% | S100YS21 |
| Change in cash | 494 | 1.5% | S100YS21 |
| Cash and equivalents | 4,368 | 13.4% | S100YS21 |

## 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 | 3,541 | 2,114 | 2,873 | 3,874 | 4,368 | S100TX7E, S100W18N, S100YS21 |
| Total assets | 21,796 | 21,633 | 23,882 | 23,650 | 28,296 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Net assets | 7,405 | 6,585 | 7,993 | 8,889 | 10,988 | S100TX7E, S100W18N, S100YS21 |
| Share capital | 2,708 | 2,708 | 2,708 | 2,708 | 2,708 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Property, plant and equipment | 2,969 | 2,806 | 2,695 | 3,050 | 3,421 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Intangible assets excluding goodwill | 537 | 641 | 748 | 676 | 610 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Investment securities | 663 | 664 | 648 | 664 | 1,041 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Current assets | 16,788 | 16,850 | 18,839 | 18,145 | 21,999 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Current liabilities | 10,861 | 11,444 | 12,847 | 11,380 | 14,008 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Trade payables | 1,804 | 2,030 | 2,320 | 2,393 | 3,675 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Short-term borrowings | 6,030 | 6,530 | 6,030 | 4,830 | 4,530 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Long-term borrowings | 583 | 503 | 448 | 394 | 576 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Total liabilities | 14,391 | 15,049 | 15,888 | 14,761 | 17,308 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Non-controlling interests | 1,374 | 1,487 | 1,662 | 1,835 | 1,980 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Equity attributable to owners of parent | 5,879 | 5,070 | 5,832 | 6,904 | 8,313 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Retained earnings | 2,295 | 1,482 | 2,240 | 3,274 | 4,612 | S100R9UA, S100TX7E, S100W18N, S100YS21 |
| Treasury stock | -526 | -522 | -518 | -480 | -409 | S100R9UA, S100TX7E, S100W18N, S100YS21 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 15% | S100YS21 |
| Property, plant and equipment | 12% | S100YS21 |
| Intangibles and goodwill | 2% | S100YS21 |
| Investment securities | 4% | S100YS21 |
| Other assets | 67% | S100YS21 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 13% | S100YS21 |
| Other liabilities | 48% | S100YS21 |
| Equity | 39% | S100YS21 |
| Other liabilities | 0% | S100YS21 |

### 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 | 21,796 | 21,633 | 23,882 | 23,650 | 28,296 |
| Equity | 7,405 | 6,585 | 7,993 | 8,889 | 10,988 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,541 | 2,114 | 2,873 | 3,874 | 4,368 |

## 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) | 10.5% | S100YS21 |
| Fixed assets ÷ total assets | 12.1% | S100YS21 |
| Goodwill ÷ parent equity | — | —, S100YS21 |

### 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) | 15.4% |
| Cash ÷ revenue | 13.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 94.6% |
| Cash vs. profit gap | 304 JPY mn (of net income 22.2%) |
| Shareholder returns / net income | 2.0% |
| Shareholder returns / FCF | 4.3% |
| Shareholder payments — dividends / net income | 1.9% |
| Shareholder payments — dividends / FCF | 4.2% |
| CapEx intensity (capex ÷ revenue) | 3.2% |
| Investing CF relative to operating CF | 61.3% |

## 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 | — | —× | -4.7% | —× | — | S100R9UA |
| 2023 | — | —× | -3.7% | —× | — | S100TX7E |
| 2024 | 2.7% | 1.24× | 3.3% | 4.17× | 13.9% | S100W18N |
| 2025 | 3.6% | 1.22× | 4.4% | 3.73× | 16.5% | S100YS21 |
| 2026 | 4.2% | 1.26× | 5.3% | 3.41× | 18.0% | S100YS21 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 三菱電機株式会社 | Major shareholder | 18.5% | 2026-03-31 |
| 石田 甲 | Major shareholder | 6.2% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 3.9% | 2026-03-31 |
| 島根 良明 | Major shareholder | 3.6% | 2026-03-31 |
| 大井電気従業員持株会 | Major shareholder | 3.1% | 2026-03-31 |
| ＫＭマネジメント株式会社 | Major shareholder | 3.1% | 2026-03-31 |
| 三菱ＵＦＪ信託銀行株式会社 （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 | 2.2% | 2026-03-31 |
| 楽天証券株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| 河邨 研一 | Major shareholder | 2.0% | 2026-03-31 |
| 大和証券株式会社 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第102期(2025/04/01－2026/03/31) | S100YS21 | 2026-07-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YS21,, |
| 有価証券報告書－第101期(2024/04/01－2025/03/31) | S100W18N | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W18N,, |
| 有価証券報告書－第100期(2023/04/01－2024/03/31) | S100TX7E | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TX7E,, |
| 有価証券報告書－第99期(2022/04/01－2023/03/31) | S100R9UA | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9UA,, |
| 訂正有価証券報告書－第98期(令和3年4月1日－令和4年3月31日) | S100OT4B | 2022-07-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OT4B,, |
| 訂正有価証券報告書－第97期(令和2年4月1日－令和3年3月31日) | S100MVU4 | 2021-11-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100MVU4,, |

## 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).