# OIZUMI 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58期(2025/04/01－2026/03/31) (S100YLT7)
> Page: https://vizora.meequs.com/en/company/oizumi
> Retrieved: 2026-09-30T20:27:52.429Z

## Company

Oizumi, founded in 1974, is a company in Electric Power & Gas listed on TSE Standard. It has 398 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OIZUMI Corporation |
| Ticker | 6428 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6428.T) |
| Listing | TSE Standard |
| Head office | 神奈川県厚木市中町二丁目7番10号 |
| Representative (per filing) | 代表取締役社長 大泉秀治 |
| Founded | Jul 1974 |
| Share capital | ¥1.01B |
| Employees (consolidated) | 398 |
| Average salary (parent only) | ¥5.4M |
| Fiscal year end | March |
| Website | www.oizumi.co.jp (https://www.oizumi.co.jp/) |
| Corporate number | 5021001020996 |
| EDINET | E01718 |
| Industries (Vizora) | Electric Power & Gas, Processed Foods, Real Estate Development & Leasing, Pachinko |

> Profile source: annual securities report (S100YLT7, filed 2026-06-26). As of filing

## Five-axis industry profile

Primary industry: Pachinko (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 35 | 10 |
| Profitability | 25 | 10 |
| Cash conversion | 93.8 | 8 |
| Efficiency | 55 | 10 |

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 Oizumi's sales come from Amusement, with Food and E-commerce buisiness and Electric power making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +8.0% from the prior year, operating profit +654.2%.

## Company structure

- Segment revenue mix: Amusement 46.9%、Food and E-commerce buisiness 44.5%、Electric power 4.7%、Real estate 3.9%
- Revenue → net income: ¥21720999000 → ¥596579000
- Net income → operating cash flow: ¥596579000 → ¥2142832000（difference ¥1546253000）
- Main uses of operating cash flow: CapEx ¥4011284000 / dividends ¥269672000 / buybacks —
- Change in cash: ¥1033766000
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 | ¥21.7B |  |
| Operating income | ¥705.9M | Margin 3.2% |
| Net income | ¥596.6M | Margin 2.7% |
| Free cash flow | -¥1.87B |  |
| Largest business | Amusement | of segment revenue 46.9% |
| Employees (consolidated) | 398 |  |
| EPS | ¥7.89 |  |
| Book value per share | ¥638.04 |  |
| Equity ratio | 45.8% |  |
| Shares outstanding | 22,500,000 |  |
| Treasury shares | 4,800 |  |
| Shareholders | 5,451 |  |
| Average salary (parent only) | ¥5.4M | Filing company only |
| Cash ratio | 19.7% | Cash ÷ revenue 36.9% |
| Vs. industry median margin | -7.4 pp | Pachinko |
| ROE | 3.2% | Derived from disclosed figures |
| ROA | 1.5% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -5% while operating income rose 654%
- FY2026, operating cash flow is 3.6× net income
- FY2026, revenue is 2.0× its level five years ago

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥12806882000 | ¥21720999000 | +69.6% |
| Operating income | ¥1535326000 | ¥705919000 | -54.0% |
| Operating margin | 12.0% | 3.2% | -8.7 pp |
| Employees | 309 people | 398 people | +28.8% |
| Cash and equivalents | ¥10397504000 | ¥8004695000 | -23.0% |

### 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 |
| --- | ---: |
| 機器事業 → 事業再編・廃止 | 60.9% |
| 不動産事業 → 不動産事業 | 3.9% |
| 不動産事業 → 事業再編・廃止 | 2.2% |
| 電気事業 → 電気事業 | 4.7% |
| 電気事業 → 事業再編・廃止 | 3.1% |
| コンテンツ事業 → 事業再編・廃止 | 7.2% |
| 食品事業 → 事業再編・廃止 | 18.1% |
| 新設・再編 → 食品・ＥＣ事業 | 44.5% |
| 新設・再編 → アミューズメント事業 | 46.9% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Amusement | 3 years | -2.9% | ¥10182576000 | 1.0% | 2 |
| Food and E-commerce buisiness | 3 years | +23.2% | ¥9668100000 | 2.2% | 2 |
| Electric power | 5 years | +0.6% | ¥1012899000 | 54.3% | 2 |
| Real estate | 5 years | +2.0% | ¥857423000 | 46.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 21,721 | 100.0% | S100YLT7 |
| Cost of revenue | 14,214 | 65.4% | S100YLT7 |
| Gross profit | 7,507 | 34.6% | S100YLT7 |
| SG&A | 6,801 | 31.3% | S100YLT7 |
| Operating income | 706 | 3.2% | S100YLT7 |
| Ordinary income | 662 | 3.0% | S100YLT7 |
| Pretax income | 1,020 | 4.7% | S100YLT7 |
| Income tax | 423 | 1.9% | S100YLT7 |
| Net income | 597 | 2.7% | S100YLT7 |
| Net income attributable to owners | 597 | 2.7% | S100YLT7 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 31 |
| Operating income | 3 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 34.6% → Operating margin 3.2% → Net margin 2.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +8.0%; Core profit growth: +654.2%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 81.85×
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 | 20,113 | 21,721 | 1,608 | +8.0% |
| Gross profit | 6,364 | 7,507 | 1,143 | +18.0% |
| Operating income | 94 | 706 | 612 | +654.2% |
| Net income attributable to owners | 246 | 597 | 350 | +142.2% |
| Operating cash flow | 355 | 2,143 | 1,788 | +504.3% |
| Free cash flow | -1,568 | -1,868 | -301 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 11,994 | 1,567 | 13.1% | 914 | 2,691 | 1,030 | S100LUO3 |
| FY ending Mar 2021 | 12,807 | 1,535 | 12.0% | 1,183 | 3,254 | 3,130 | S100QDIL |
| FY ending Mar 2022 | 10,794 | 606 | 5.6% | 389 | 5 | -2,397 | S100R9VC |
| FY ending Mar 2023 | 18,128 | 1,062 | 5.9% | 1,514 | 534 | 333 | S100TX07 |
| FY ending Mar 2024 | 21,393 | 1,016 | 4.8% | 529 | 90 | -394 | S100W6FB |
| FY ending Mar 2025 | 20,113 | 94 | 0.5% | 246 | 355 | -1,568 | S100YLT7 |
| FY ending Mar 2026 | 21,721 | 706 | 3.2% | 597 | 2,143 | -1,868 | S100YLT7 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥54.6M |
| Operating income per employee (consolidated) | ¥1.8M |
| 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) | 319 | 421 | 451 | 419 | 398 |
| Average salary (parent company) | ¥5M | ¥5.3M | ¥5.2M | ¥5.2M | ¥5.4M |
| Average age (parent company) | 43.1 years | 43.5 years | 44.1 years | 45.0 years | 44.9 years |
| Average tenure (parent company) | 15.2 years | 15.5 years | 16.3 years | 17.1 years | 17.3 years |

Year over year: Employees (consolidated) -5.0% · Revenue (consolidated) +8.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Food and E-commerce buisiness | 9,668 | 44.5% | 210 | 2.2% |
| Amusement | 10,183 | 46.9% | 97 | 1.0% |
| Real estate | 857 | 3.9% | 400 | 46.6% |
| Electric power | 1,013 | 4.7% | 550 | 54.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Food and E-commerce buisiness | 44.5% | 16.7% | -27.8 | 2.2% |
| Amusement | 46.9% | 7.7% | -39.1 | 1.0% |
| Real estate | 3.9% | 31.8% | 27.9 | 46.6% |
| Electric power | 4.7% | 43.8% | 39.1 | 54.3% |

Segment → industry: Electric power → Electric Power & Gas / Food and E-commerce buisiness → Processed Foods / Real estate → Real Estate Development & Leasing / Amusement → Pachinko

## 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 | 2,143 | 9.9% | S100YLT7 |
| Capital expenditure | 4,011 | 18.5% | S100YLT7 |
| Free cash flow | -1,868 | -8.6% | 算出 |
| Investing cash flow | -2,934 | -13.5% | S100YLT7 |
| Financing cash flow | 1,825 | 8.4% | S100YLT7 |
| Dividends paid | 270 | 1.2% | S100YLT7 |
| Change in cash | 1,034 | 4.8% | S100YLT7 |
| Cash and equivalents | 8,005 | 36.9% | S100YLT7 |

## 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 | 7,904 | 7,866 | 8,000 | 6,971 | 8,005 | S100TX07, S100W6FB, S100YLT7 |
| Total assets | 34,798 | 43,719 | 41,940 | 38,959 | 40,731 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Net assets | 16,669 | 18,212 | 18,356 | 18,307 | 18,659 | S100TX07, S100W6FB, S100YLT7 |
| Share capital | 1,007 | 1,007 | 1,007 | 1,007 | 1,007 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Property, plant and equipment | 19,279 | 19,196 | 17,961 | 17,082 | 19,645 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Intangible assets excluding goodwill | 150 | 2,525 | 2,248 | 1,985 | 1,765 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Goodwill | 67 | 2,402 | 2,161 | 1,919 | 1,701 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Investment securities | 301 | 596 | 433 | 401 | 442 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Current assets | 13,924 | 19,931 | 19,994 | 17,931 | 16,918 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Current liabilities | 6,132 | 11,030 | 9,144 | 8,631 | 7,114 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Trade payables | 1,778 | 2,836 | 915 | 538 | 647 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Short-term borrowings | 1,120 | 1,907 | 1,903 | 2,473 | 1,875 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Long-term borrowings | 10,391 | 11,825 | 12,123 | 9,668 | 12,641 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Total liabilities | 18,129 | 25,507 | 23,584 | 20,651 | 22,072 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Equity attributable to owners of parent | 16,658 | 17,969 | 18,228 | 18,205 | 18,531 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Retained earnings | 14,981 | 16,293 | 16,552 | 16,528 | 16,855 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |
| Treasury stock | -4 | -4 | -4 | -4 | -4 | S100R9VC, S100TX07, S100W6FB, S100YLT7 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YLT7 |
| Property, plant and equipment | 48% | S100YLT7 |
| Intangibles and goodwill | 8% | S100YLT7 |
| Investment securities | 1% | S100YLT7 |
| Other assets | 23% | S100YLT7 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 1% | S100YLT7 |
| Other liabilities | 53% | S100YLT7 |
| Equity | 46% | S100YLT7 |

### 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 | 34,798 | 43,719 | 41,940 | 38,959 | 40,731 |
| Equity | 16,669 | 18,212 | 18,356 | 18,307 | 18,659 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 7,904 | 7,866 | 8,000 | 6,971 | 8,005 |

## 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) | 90.4% | S100YLT7 |
| Fixed assets ÷ total assets | 48.2% | S100YLT7 |
| Goodwill ÷ parent equity | 9.2% | S100YLT7 |

Goodwill over 4 years: 67 → 1,701 JPY; total investing cash flow: -5,199 JPY. This does not imply causation.

### 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) | 19.7% |
| Cash ÷ revenue | 36.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 303.6% |
| Cash vs. profit gap | 1,546 JPY mn (of net income 259.2%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 45.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 18.5% |
| Investing CF relative to operating CF | 136.9% |

## 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 | 3.6% | 0.31× | 1.1% | 2.09× | 2.3% | S100R9VC |
| 2023 | 8.4% | 0.46× | 3.9% | 2.27× | 8.7% | S100TX07 |
| 2024 | 2.5% | 0.50× | 1.2% | 2.37× | 2.9% | S100W6FB |
| 2025 | 1.2% | 0.50× | 0.6% | 2.22× | 1.4% | S100YLT7 |
| 2026 | 2.7% | 0.55× | 1.5% | 2.17× | 3.2% | S100YLT7 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社オーイズミホールディングス | Major shareholder | 47.3% | 2026-03-31 |
| 大泉秀治 | Major shareholder | 13.9% | 2026-03-31 |
| 大泉充輝 | Major shareholder | 4.5% | 2026-03-31 |
| 大泉賢治 | Major shareholder | 2.7% | 2026-03-31 |
| オーイズミ取引先持株会 | Major shareholder | 1.1% | 2026-03-31 |
| 石川雄一 | Major shareholder | 1.0% | 2026-03-31 |
| 株式会社商工組合中央金庫 | Major shareholder | 0.9% | 2026-03-31 |
| 波佐間絵美 | Major shareholder | 0.8% | 2026-03-31 |
| オーイズミ従業員持株会 | Major shareholder | 0.8% | 2026-03-31 |
| 上田八木短資株式会社 | Major shareholder | 0.5% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第58期(2025/04/01－2026/03/31) | S100YLT7 | 2026-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YLT7,, |
| 有価証券報告書－第57期(2024/04/01－2025/03/31) | S100W6FB | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6FB,, |
| 有価証券報告書－第56期(2023/04/01－2024/03/31) | S100TX07 | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TX07,, |
| 有価証券報告書－第55期(2022/04/01－2023/03/31) | S100R9VC | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9VC,, |
| 訂正有価証券報告書－第54期(2021/04/01－2022/03/31) | S100QDIL | 2023-03-13 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QDIL,, |
| 有価証券報告書－第53期(令和2年4月1日－令和3年3月31日) | S100LUO3 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUO3,, |

## 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).