# oie sangyo 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66期(2025/04/01－2026/03/31) (S100YDVR)
> Page: https://vizora.meequs.com/en/company/oie-sangyo
> Retrieved: 2026-09-30T19:08:51.044Z

## Company

oie sangyo, founded in 1961, is a company in Specialty Trading & Wholesale listed on TSE Standard. It has 873 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OIE SANGYO CO., LTD. |
| Ticker | 7481 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7481.T) |
| Listing | TSE Standard |
| Head office | 大阪市北区豊崎六丁目11番27号 |
| Representative (per filing) | 代表取締役社長執行役員 尾家 健太郎 |
| Founded | Feb 1961 |
| Share capital | ¥1.3B |
| Employees (consolidated) | 873 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | March |
| Website | www.oie.co.jp (https://www.oie.co.jp/) |
| Corporate number | 5120001061479 |
| EDINET | E02837 |
| Industries (Vizora) | Specialty Trading & Wholesale |

> Profile source: annual securities report (S100YDVR, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 50.5 | 185 |
| Cash conversion | 39.9 | 179 |
| Efficiency | 95.9 | 185 |

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)

- oie sangyo brought in ¥129.3B in revenue.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +8.4% from the prior year, operating profit +7.0%.

## Company structure

- Segment revenue mix: Segment revenue breakdown is not disclosed
- Revenue → net income: ¥129321000000 → ¥2806000000
- Net income → operating cash flow: ¥2806000000 → ¥3266000000（difference ¥460000000）
- Main uses of operating cash flow: CapEx ¥87000000 / dividends ¥860000000 / buybacks —
- Change in cash: ¥-694000000
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 | ¥129.3B |  |
| Operating income | ¥3.81B | Margin 3.0% |
| Net income | ¥2.81B | Margin 2.2% |
| Free cash flow | ¥3.18B |  |
| Employees (consolidated) | 873 |  |
| EPS | ¥336.26 |  |
| Book value per share | ¥1969.81 |  |
| Equity ratio | 41.3% |  |
| Shares outstanding | 9,255,000 |  |
| Treasury shares | 954,300 |  |
| Shareholders | 9,315 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |
| Cash ratio | 13.1% | Cash ÷ revenue 4.2% |
| Vs. industry median margin | +0.1 pp | Specialty Trading & Wholesale |
| ROE | 18.8% | Derived from disclosed figures |
| ROA | 7.1% | Derived from disclosed figures |

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥66137121000 | ¥129321000000 | — |
| Operating income | ¥-1836033000 | ¥3815000000 | — |
| Operating margin | -2.8% | 3.0% | +5.7 pp |
| Employees | 768 people | 873 people | — |
| Cash and equivalents | ¥2927736000 | ¥5394000000 | — |

### 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 | 129,321 | 100.0% | S100YDVR |
| Cost of revenue | 104,938 | 81.1% | S100YDVR |
| Gross profit | 24,383 | 18.9% | S100YDVR |
| SG&A | 20,567 | 15.9% | S100YDVR |
| Operating income | 3,815 | 3.0% | S100YDVR |
| Ordinary income | 3,871 | 3.0% | S100YDVR |
| Pretax income | 3,871 | 3.0% | S100YDVR |
| Income tax | 1,065 | 0.8% | S100YDVR |
| Net income | 2,806 | 2.2% | S100YDVR |
| Net income attributable to owners | 2,806 | 2.2% | S100YDVR |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 81 |
| SG&A | 16 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 18.9% → Operating margin 3.0% → Net margin 2.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.4%; Core profit growth: +7.0%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.83×
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 | 119,256 | 129,321 | 10,065 | +8.4% |
| Gross profit | 22,533 | 24,383 | 1,850 | +8.2% |
| Operating income | 3,565 | 3,815 | 250 | +7.0% |
| Net income attributable to owners | 2,812 | 2,806 | -6 | -0.2% |
| Operating cash flow | 3,744 | 3,266 | -478 | -12.8% |
| Free cash flow | 3,219 | 3,179 | -40 | -1.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 95,976 | 285 | 0.3% | 360 | 2,526 | 1,575 | S100LQCA |
| FY ending Mar 2021 | 66,137 | -1,836 | -2.8% | -2,993 | -1,852 | -2,268 | S100OG3U |
| FY ending Mar 2022 | 70,602 | -748 | -1.1% | -114 | 520 | 260 | S100R6US |
| FY ending Mar 2023 | 94,834 | 1,692 | 1.8% | 1,634 | 2,584 | 2,538 | S100R6US |
| FY ending Mar 2024 | 111,375 | 3,243 | 2.9% | 3,055 | 2,811 | 2,674 | S100W8OO |
| FY ending Mar 2025 | 119,256 | 3,565 | 3.0% | 2,812 | 3,744 | 3,219 | S100YDVR |
| FY ending Mar 2026 | 129,321 | 3,815 | 3.0% | 2,806 | 3,266 | 3,179 | S100YDVR |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥148.1M |
| Operating income per employee (consolidated) | ¥4.4M |
| Net income per employee (consolidated) | ¥3.2M |

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) | 717 | 728 | 760 | 838 | 873 |
| Average salary (parent company) | ¥4.7M | ¥6.1M | ¥7.2M | ¥7.5M | ¥7.6M |
| Average age (parent company) | 39.5 years | 40.3 years | 40.6 years | 40.6 years | 40.2 years |
| Average tenure (parent company) | 14.6 years | 15.1 years | 15.1 years | 15.0 years | 14.2 years |

Year over year: Employees (consolidated) +4.2% · Revenue (consolidated) +8.4%

## 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 | 3,266 | 2.5% | S100YDVR |
| Capital expenditure | 87 | 0.1% | S100YDVR |
| Free cash flow | 3,179 | 2.5% | 算出 |
| Investing cash flow | -2,980 | -2.3% | S100YDVR |
| Financing cash flow | -980 | -0.8% | S100YDVR |
| Dividends paid | 860 | 0.7% | S100YDVR |
| Change in cash | -694 | -0.5% | S100YDVR |
| Cash and equivalents | 5,394 | 4.2% | S100YDVR |

## 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 | 3,213 | 4,076 | 3,973 | 6,089 | 5,394 | S100R6US, S100YDVR |
| Total assets | 27,436 | 33,012 | 35,411 | 37,597 | 41,111 | S100R6US, S100W8OO, S100YDVR |
| Net assets | 9,521 | 11,043 | 12,694 | 14,476 | 16,970 | S100R6US, S100YDVR |
| Share capital | 1,306 | 1,306 | 1,305 | 1,305 | 1,305 | S100R6US, S100W8OO, S100YDVR |
| Trade receivables | — | — | 15,045 | 14,944 | 15,948 | S100W8OO, S100YDVR |
| Property, plant and equipment | 7,646 | 7,143 | 6,830 | 6,779 | 6,533 | S100R6US, S100W8OO, S100YDVR |
| Intangible assets excluding goodwill | 179 | 172 | 208 | 184 | 188 | S100R6US, S100W8OO, S100YDVR |
| Goodwill | — | — | 58 | 46 | 35 | S100W8OO, S100YDVR |
| Investment securities | 864 | 900 | 1,057 | 811 | 1,496 | S100R6US, S100W8OO, S100YDVR |
| Current assets | 16,284 | 22,195 | 24,021 | 26,492 | 29,614 | S100R6US, S100W8OO, S100YDVR |
| Current liabilities | 14,081 | 19,005 | 20,000 | 20,227 | 21,507 | S100R6US, S100W8OO, S100YDVR |
| Short-term borrowings | — | — | — | 50 | 20 | S100YDVR |
| Long-term borrowings | 1,048 | 139 | 115 | 62 | 16 | S100R6US, S100W8OO, S100YDVR |
| Total liabilities | 17,915 | 21,970 | 22,716 | 23,121 | 24,140 | S100R6US, S100W8OO, S100YDVR |
| Equity attributable to owners of parent | 9,205 | 10,703 | 11,962 | 13,932 | 15,903 | S100R6US, S100W8OO, S100YDVR |
| Retained earnings | 6,838 | 8,336 | 10,938 | 12,882 | 14,826 | S100R6US, S100W8OO, S100YDVR |
| Treasury stock | -172 | -172 | -1,515 | -1,496 | -1,476 | S100R6US, S100W8OO, S100YDVR |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100YDVR |
| Receivables | 39% | S100YDVR |
| Property, plant and equipment | 16% | S100YDVR |
| Intangibles and goodwill | 0% | S100YDVR |
| Investment securities | 4% | S100YDVR |
| Other assets | 28% | S100YDVR |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 59% | S100YDVR |
| Equity | 41% | S100YDVR |
| Other liabilities | 0% | S100YDVR |

### 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 | 27,436 | 33,012 | 35,411 | 37,597 | 41,111 |
| Equity | 9,521 | 11,043 | 12,694 | 14,476 | 16,970 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 3,213 | 4,076 | 3,973 | 6,089 | 5,394 |

## 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) | 5.1% | S100YDVR |
| Fixed assets ÷ total assets | 15.9% | S100YDVR |
| Goodwill ÷ parent equity | 0.2% | S100YDVR |

### 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) | 13.1% |
| Cash ÷ revenue | 4.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 85.6% |
| Cash vs. profit gap | 460 JPY mn (of net income 16.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 30.6% |
| Shareholder payments — dividends / FCF | 27.1% |
| CapEx intensity (capex ÷ revenue) | 0.1% |
| Investing CF relative to operating CF | 91.2% |

## 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 | — | —× | -0.4% | —× | — | S100R6US |
| 2023 | 1.7% | 3.14× | 5.4% | 3.04× | 16.4% | S100R6US |
| 2024 | 2.7% | 3.15× | 8.6% | 2.96× | 25.5% | S100W8OO |
| 2025 | 2.4% | 3.27× | 7.7% | 2.82× | 21.7% | S100YDVR |
| 2026 | 2.2% | 3.29× | 7.1% | 2.64× | 18.8% | S100YDVR |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| サンホーム共栄会 | Major shareholder | 12.5% | 2026-03-31 |
| 三井住友信託銀行株式会社(ＭＳＭ３信託口) | Major shareholder | 9.6% | 2026-03-31 |
| 尾家 美津子 | Major shareholder | 5.2% | 2026-03-31 |
| 尾家産業従業員持株会 | Major shareholder | 3.9% | 2026-03-31 |
| 株式会社オイエコーポレーション | Major shareholder | 3.6% | 2026-03-31 |
| 三井住友信託銀行株式会社（信託口甲26号） | Major shareholder | 3.0% | 2026-03-31 |
| 伊藤忠商事株式会社 | Major shareholder | 2.5% | 2026-03-31 |
| 尾家 啓二 | Major shareholder | 2.0% | 2026-03-31 |
| 三井住友信託銀行株式会社（信託口甲27号） | Major shareholder | 2.0% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 2.0% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第66期(2025/04/01－2026/03/31) | S100YDVR | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDVR,, |
| 有価証券報告書－第65期(2024/04/01－2025/03/31) | S100W8OO | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W8OO,, |
| 有価証券報告書－第64期(2023/04/01－2024/03/31) | S100TW4L | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TW4L,, |
| 有価証券報告書－第63期(2022/04/01－2023/03/31) | S100R6US | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R6US,, |
| 有価証券報告書－第62期(令和3年4月1日－令和4年3月31日) | S100OG3U | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OG3U,, |
| 有価証券報告書－第61期(令和2年4月1日－令和3年3月31日) | S100LQCA | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQCA,, |

## 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).