# OILES CORPORATION: 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75期(2025/04/01－2026/03/31) (S100YLBX)
> Page: https://vizora.meequs.com/en/company/oiles
> Retrieved: 2026-09-30T18:28:23.051Z

## Company

Oiles, founded in 1952, is a company in Auto Parts listed on TSE Prime. It has 2,065 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OILES CORPORATION |
| Ticker | 6282 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6282.T) |
| Listing | TSE Prime |
| Head office | 神奈川県藤沢市桐原町8番地 |
| Representative (per filing) | 代表取締役社長 坂入 良和 |
| Founded | Mar 1952 |
| Share capital | ¥8.59B |
| Employees (consolidated) | 2,065 |
| Average salary (parent only) | ¥8.1M |
| Fiscal year end | March |
| Website | www.oiles.co.jp (https://www.oiles.co.jp/) |
| Corporate number | 1010401006049 |
| EDINET | E01642 |
| Industries (Vizora) | Auto Parts, Disaster Prevention & Infrastructure Maintenance, Housing Equipment & Building Materials, Industrial Machinery |

> Profile source: annual securities report (S100YLBX, filed 2026-06-26). As of filing

## Five-axis industry profile

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

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 33.2 | 110 |
| Profitability | 94.1 | 111 |
| Cash conversion | 39.4 | 108 |
| Efficiency | 15.8 | 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 50% of Oiles's sales come from Automotive Bearing Division, with General Industrial Bearing Division and Structural Division making up much of the rest.
- Out of every ¥100 of sales, about ¥10 is left as operating profit.
- Revenue changed +2.0% from the prior year, operating profit +0.2%.

## Company structure

- Segment revenue mix: Automotive Bearing Division 49.6%、General Industrial Bearing Division 23.1%、Structural Division 16.3%、Architectural Division 8.4%、Other 2.6%
- Revenue → net income: ¥68964000000 → ¥5046000000
- Net income → operating cash flow: ¥5046000000 → ¥10651000000（difference ¥5605000000）
- Main uses of operating cash flow: CapEx ¥5923000000 / dividends ¥2687000000 / buybacks ¥2462000000
- Change in cash: ¥3423000000
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 | ¥69B |  |
| Operating income | ¥6.96B | Margin 10.1% |
| Net income | ¥5.01B | Margin 7.3% |
| Free cash flow | ¥4.73B |  |
| Largest business | Automotive Bearing Division | of segment revenue 49.6% |
| Employees (consolidated) | 2,065 |  |
| EPS | ¥155.24 |  |
| Book value per share | ¥1964.98 |  |
| Equity ratio | 80.6% |  |
| Shares outstanding | 33,300,000 |  |
| Treasury shares | 3,222,900 |  |
| Shareholders | 12,496 |  |
| Average salary (parent only) | ¥8.1M | Filing company only |
| Cash ratio | 28.6% | Cash ÷ revenue 41.2% |
| Vs. industry median margin | +5.3 pp | Auto Parts |
| ROE | 7.3% | Derived from disclosed figures |
| ROA | 5.2% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.1× net income
- FY2026, cash is 29% of total assets
- FY2026, employees 0% while operating income rose 0%

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥52977000000 | ¥68964000000 | +30.2% |
| Operating income | ¥3138000000 | ¥6958000000 | +121.7% |
| Operating margin | 5.9% | 10.1% | +4.2 pp |
| Employees | 2,046 people | 2,065 people | +0.9% |
| Cash and equivalents | ¥20587000000 | ¥28389000000 | +37.9% |

### 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 |
| --- | ---: |
| 軸受機器 → 事業再編・廃止 | 66.4% |
| 構造機器 → 構造機器 | 16.3% |
| 構造機器 → 事業再編・廃止 | 3.6% |
| 建築機器 → 建築機器 | 8.4% |
| 建築機器 → 事業再編・廃止 | 3.1% |
| その他 → その他 | 2.3% |
| 新設・再編 → 一般軸受機器 | 23.1% |
| 新設・再編 → 自動車軸受機器 | 49.6% |
| 新設・再編 → その他 | 0.3% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Automotive Bearing Division | 3 years | +5.2% | ¥34221000000 | 9.9% | 2 |
| General Industrial Bearing Division | 3 years | +3.4% | ¥15949000000 | 10.5% | 2 |
| Structural Division | 5 years | +1.3% | ¥11235000000 | 11.6% | 2 |
| Architectural Division | 5 years | -0.9% | ¥5765000000 | 8.0% | 2 |
| Other | 5 years | +7.7% | ¥1791000000 | 6.8% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 68,964 | 100.0% | S100YLBX |
| Cost of revenue | 44,820 | 65.0% | S100YLBX |
| Gross profit | 24,143 | 35.0% | S100YLBX |
| SG&A | 17,185 | 24.9% | S100YLBX |
| Operating income | 6,958 | 10.1% | S100YLBX |
| Ordinary income | 7,239 | 10.5% | S100YLBX |
| Pretax income | 7,141 | 10.4% | S100YLBX |
| Income tax | 2,095 | 3.0% | S100YLBX |
| Net income | 5,046 | 7.3% | S100YLBX |
| Net income attributable to owners | 5,009 | 7.3% | S100YLBX |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 65 |
| SG&A | 25 |
| Operating income | 10 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 35.0% → Operating margin 10.1% → Net margin 7.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.0%; Core profit growth: +0.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.11×
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 | 67,604 | 68,964 | 1,360 | +2.0% |
| Gross profit | 23,685 | 24,143 | 458 | +1.9% |
| Operating income | 6,942 | 6,958 | 16 | +0.2% |
| Net income attributable to owners | 6,308 | 5,009 | -1,299 | -20.6% |
| Operating cash flow | 8,773 | 10,651 | 1,878 | +21.4% |
| Free cash flow | 4,538 | 4,728 | 190 | +4.2% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 60,165 | 4,749 | 7.9% | 3,432 | 8,292 | 4,516 | S100LVHL |
| FY ending Mar 2021 | 52,977 | 3,138 | 5.9% | 2,525 | 4,139 | -136 | S100OL9Y |
| FY ending Mar 2022 | 59,853 | 5,861 | 9.8% | 4,325 | 5,850 | 2,870 | S100RAP1 |
| FY ending Mar 2023 | 62,882 | 5,056 | 8.0% | 4,132 | 7,987 | 5,319 | S100TXHP |
| FY ending Mar 2024 | 68,765 | 7,291 | 10.6% | 5,476 | 7,196 | 5,127 | S100WYS8 |
| FY ending Mar 2025 | 67,604 | 6,942 | 10.3% | 6,308 | 8,773 | 4,538 | S100YLBX |
| FY ending Mar 2026 | 68,964 | 6,958 | 10.1% | 5,009 | 10,651 | 4,728 | S100YLBX |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥33.4M |
| Operating income per employee (consolidated) | ¥3.4M |
| Net income per employee (consolidated) | ¥2.4M |

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) | 2,035 | 2,030 | 2,064 | 2,069 | 2,065 |
| Average salary (parent company) | ¥7.4M | ¥7.8M | ¥7.6M | ¥7.8M | ¥8.1M |
| Average age (parent company) | 44.7 years | 44.6 years | 44.6 years | 44.5 years | 44.4 years |
| Average tenure (parent company) | 18.0 years | 17.9 years | 17.8 years | 17.6 years | 17.5 years |

Year over year: Employees (consolidated) -0.2% · Revenue (consolidated) +2.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| General Industrial Bearing Division | 15,949 | 23.1% | 1,668 | 10.5% |
| Automotive Bearing Division | 34,221 | 49.6% | 3,394 | 9.9% |
| Structural Division | 11,235 | 16.3% | 1,306 | 11.6% |
| Architectural Division | 5,765 | 8.4% | 464 | 8.0% |
| Other | 1,791 | 2.6% | 121 | 6.8% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| General Industrial Bearing Division | 23.1% | 24.0% | 0.9 | 10.5% |
| Automotive Bearing Division | 49.6% | 48.8% | -0.8 | 9.9% |
| Structural Division | 16.3% | 18.8% | 2.5 | 11.6% |
| Architectural Division | 8.4% | 6.7% | -1.7 | 8.0% |
| Other | 2.6% | 1.7% | -0.9 | 6.8% |

Segment → industry: Automotive Bearing Division → Auto Parts / Structural Division → Disaster Prevention & Infrastructure Maintenance / Architectural Division → Housing Equipment & Building Materials / General Industrial Bearing Division → Industrial Machinery

## 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 | 10,651 | 15.4% | S100YLBX |
| Capital expenditure | 5,923 | 8.6% | S100YLBX |
| Free cash flow | 4,728 | 6.9% | 算出 |
| Investing cash flow | -4,468 | -6.5% | S100YLBX |
| Financing cash flow | -3,096 | -4.5% | S100YLBX |
| Dividends paid | 2,687 | 3.9% | S100YLBX |
| Share buyback | 2,462 | 3.6% | S100YLBX |
| Change in cash | 3,423 | 5.0% | S100YLBX |
| Cash and equivalents | 28,389 | 41.2% | S100YLBX |

## 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 | 20,337 | 22,597 | 24,891 | 24,966 | 28,389 | S100TXHP, S100WYS8, S100YLBX |
| Total assets | 85,530 | 86,991 | 95,075 | 93,361 | 99,429 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Net assets | 66,591 | 69,589 | 74,900 | 76,844 | 80,616 | S100TXHP, S100WYS8, S100YLBX |
| Share capital | 8,585 | 8,585 | 8,585 | 8,585 | 8,585 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Trade receivables | 19,832 | 17,854 | 22,597 | 19,176 | 18,567 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Property, plant and equipment | 22,913 | 22,805 | 22,103 | 22,986 | 25,835 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Intangible assets excluding goodwill | 349 | 344 | 361 | 831 | 932 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Investment securities | 6,635 | 6,560 | 8,373 | 7,545 | 8,655 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Current assets | 53,162 | 54,772 | 61,590 | 59,319 | 60,379 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Current liabilities | 13,114 | 12,610 | 16,056 | 13,496 | 13,524 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Trade payables | 5,903 | 6,760 | 8,060 | 6,115 | 5,507 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Long-term borrowings | 3,893 | 2,523 | 1,150 | — | 1,447 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Total liabilities | 18,939 | 17,401 | 20,175 | 16,516 | 18,812 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Non-controlling interests | 588 | 640 | 645 | 661 | 523 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Equity attributable to owners of parent | 63,058 | 64,688 | 67,414 | 68,128 | 70,042 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Retained earnings | 49,668 | 51,987 | 53,730 | 57,672 | 60,002 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |
| Treasury stock | -4,810 | -5,499 | -4,516 | -7,743 | -8,276 | S100RAP1, S100TXHP, S100WYS8, S100YLBX |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 28% | S100YLBX |
| Receivables | 19% | S100YLBX |
| Property, plant and equipment | 26% | S100YLBX |
| Intangibles and goodwill | 1% | S100YLBX |
| Investment securities | 9% | S100YLBX |
| Other assets | 17% | S100YLBX |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 6% | S100YLBX |
| Other liabilities | 13% | S100YLBX |
| Equity | 81% | S100YLBX |
| Other liabilities | 0% | S100YLBX |

### 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 | 85,530 | 86,991 | 95,075 | 93,361 | 99,429 |
| Equity | 66,591 | 69,589 | 74,900 | 76,844 | 80,616 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 20,337 | 22,597 | 24,891 | 24,966 | 28,389 |

## 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) | 37.5% | S100YLBX |
| Fixed assets ÷ total assets | 26.0% | S100YLBX |
| Goodwill ÷ parent equity | — | —, S100YLBX |

### 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) | 28.6% |
| Cash ÷ revenue | 41.2% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 153.1% |
| Cash vs. profit gap | 5,642 JPY mn (of net income 112.6%) |
| Shareholder returns / net income | 102.8% |
| Shareholder returns / FCF | 108.9% |
| Shareholder payments — dividends / net income | 53.6% |
| Shareholder payments — dividends / FCF | 56.8% |
| CapEx intensity (capex ÷ revenue) | 8.6% |
| Investing CF relative to operating CF | 41.9% |

## 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 | 7.2% | 0.70× | 5.1% | 1.36× | 6.9% | S100RAP1 |
| 2023 | 6.6% | 0.73× | 4.8% | 1.35× | 6.5% | S100TXHP |
| 2024 | 8.0% | 0.76× | 6.0% | 1.38× | 8.3% | S100WYS8 |
| 2025 | 9.3% | 0.72× | 6.7% | 1.39× | 9.3% | S100YLBX |
| 2026 | 7.3% | 0.72× | 5.2% | 1.40× | 7.3% | S100YLBX |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 東京中小企業投資育成㈱ | Major shareholder | 9.9% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱（その他信託口） | Major shareholder | 5.4% | 2026-03-31 |
| ㈱みずほ銀行 | Major shareholder | 4.0% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 3.2% | 2026-03-31 |
| ㈱日本カストディ銀行（信託E口） | Major shareholder | 2.9% | 2026-03-31 |
| 川崎 景介 | Major shareholder | 2.8% | 2026-03-31 |
| 川崎 景太 | Major shareholder | 2.4% | 2026-03-31 |
| オイレス従業員持株会 | Major shareholder | 2.4% | 2026-03-31 |
| オイレス東日本共栄会 | Major shareholder | 1.9% | 2026-03-31 |
| 群栄化学工業㈱ | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第75期(2025/04/01－2026/03/31) | S100YLBX | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLBX,, |
| 訂正有価証券報告書－第74期(2024/04/01－2025/03/31) | S100WYS8 | 2025-11-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100WYS8,, |
| 有価証券報告書－第73期(2023/04/01－2024/03/31) | S100TXHP | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TXHP,, |
| 有価証券報告書－第72期(2022/04/01－2023/03/31) | S100RAP1 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAP1,, |
| 有価証券報告書－第71期(令和3年4月1日－令和4年3月31日) | S100OL9Y | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OL9Y,, |
| 有価証券報告書－第70期(令和2年4月1日－令和3年3月31日) | S100LVHL | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVHL,, |

## 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).