# OKAMOTO INDUSTRIES,INC.: 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130期(2025/04/01－2026/03/31) (S100YHXH)
> Page: https://vizora.meequs.com/en/company/okamoto-industries
> Retrieved: 2026-09-30T19:51:57.319Z

## Company

Okamoto Industries, founded in 1934, is a company in Chemicals listed on TSE Prime. It has 2,593 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OKAMOTO INDUSTRIES, INC. |
| Ticker | 5122 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5122.T) |
| Listing | TSE Prime |
| Head office | 東京都文京区本郷三丁目27番12号 |
| Representative (per filing) | 代表取締役社長執行役員 岡本 邦彦 |
| Founded | Jan 1934 |
| Share capital | ¥13B |
| Employees (consolidated) | 2,593 |
| Average salary (parent only) | ¥6.5M |
| Fiscal year end | March |
| Website | www.okamoto-inc.jp (https://www.okamoto-inc.jp/) |
| Corporate number | 5010001000002 |
| EDINET | E01100 |
| Industries (Vizora) | Chemicals, Housing Equipment & Building Materials, Toiletries & Household Products |

> Profile source: annual securities report (S100YHXH, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Housing Equipment & Building Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 59.8 | 56 |
| Profitability | 56 | 58 |
| Cash conversion | 37 | 50 |
| Efficiency | 21.6 | 58 |

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 70% of Okamoto Industries's sales come from Industrial products, with Daily commodities and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed -1.0% from the prior year, operating profit -28.2%.

## Company structure

- Segment revenue mix: Industrial products 70.1%、Daily commodities 29.7%、Other 0.2%
- Revenue → net income: ¥108040000000 → ¥4860000000
- Net income → operating cash flow: ¥4860000000 → ¥5746000000（difference ¥886000000）
- Main uses of operating cash flow: CapEx ¥7467000000 / dividends ¥2065000000 / buybacks ¥1304000000
- Change in cash: ¥-6360000000
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 | ¥108B |  |
| Operating income | ¥6.25B | Margin 5.8% |
| Net income | ¥4.86B | Margin 4.5% |
| Free cash flow | -¥1.72B |  |
| Largest business | Industrial products | of segment revenue 70.1% |
| Employees (consolidated) | 2,593 |  |
| EPS | ¥367.63 |  |
| Book value per share | ¥5589.76 |  |
| Equity ratio | 67.3% |  |
| Shares outstanding | 17,699,000 |  |
| Treasury shares | 610,400 |  |
| Shareholders | 3,283 |  |
| Average salary (parent only) | ¥6.5M | Filing company only |
| Cash ratio | 19.8% | Cash ÷ revenue 30.1% |
| Vs. industry median margin | -1.7 pp | Chemicals |
| ROE | 6.8% | Derived from disclosed figures |
| ROA | 3.1% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 90% of positive segment profit
- FY2026, segment profit share differs by -64 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥86361000000 | ¥108040000000 | +25.1% |
| Operating income | ¥8269000000 | ¥6248000000 | -24.4% |
| Operating margin | 9.6% | 5.8% | -3.8 pp |
| Employees | 2,891 people | 2,593 people | -10.3% |
| Cash and equivalents | ¥28052000000 | ¥32572000000 | +16.1% |

### 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 |
| --- | ---: |
| 産業用製品 → 産業用製品 | 62.2% |
| 生活用品 → 生活用品 | 29.7% |
| 生活用品 → 事業再編・廃止 | 7.9% |
| その他 → その他 | 0.2% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 産業用製品 | 8.0% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Industrial products | 5 years | +7.1% | ¥75756000000 | 0.7% | 2 |
| Daily commodities | 5 years | -0.2% | ¥32040000000 | 23.9% | 2 |
| Other | 5 years | +1.2% | ¥243000000 | 156.4% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 108,040 | 100.0% | S100YHXH |
| Cost of revenue | 86,256 | 79.8% | S100YHXH |
| Gross profit | 21,784 | 20.2% | S100YHXH |
| SG&A | 15,536 | 14.4% | S100YHXH |
| Operating income | 6,248 | 5.8% | S100YHXH |
| Ordinary income | 8,595 | 8.0% | S100YHXH |
| Pretax income | 7,001 | 6.5% | S100YHXH |
| Income tax | 2,140 | 2.0% | S100YHXH |
| Net income | 4,860 | 4.5% | S100YHXH |
| Net income attributable to owners | 4,855 | 4.5% | S100YHXH |

## 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 20.2% → Operating margin 5.8% → Net margin 4.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -1.0%; Core profit growth: -28.2%
Operating leverage (core profit growth ÷ revenue growth): 28.83×
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 | 109,107 | 108,040 | -1,067 | -1.0% |
| Gross profit | 23,913 | 21,784 | -2,129 | -8.9% |
| Operating income | 8,701 | 6,248 | -2,453 | -28.2% |
| Net income attributable to owners | 6,674 | 4,855 | -1,819 | -27.3% |
| Operating cash flow | 7,240 | 5,746 | -1,494 | -20.6% |
| Free cash flow | 3,654 | -1,721 | -5,375 | -147.1% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 90,503 | 7,345 | 8.1% | 3,489 | 12,352 | 7,965 | S100LQXN |
| FY ending Mar 2021 | 86,361 | 8,269 | 9.6% | 5,697 | 8,175 | 5,495 | S100OIRC |
| FY ending Mar 2022 | 89,581 | 7,541 | 8.4% | 5,577 | 10,644 | 8,045 | S100R9JI |
| FY ending Mar 2023 | 99,076 | 6,898 | 7.0% | 4,893 | 8,318 | 4,530 | S100TVPA |
| FY ending Mar 2024 | 106,123 | 10,040 | 9.5% | 7,388 | 12,958 | 7,287 | S100W4ZO |
| FY ending Mar 2025 | 109,107 | 8,701 | 8.0% | 6,674 | 7,240 | 3,654 | S100YHXH |
| FY ending Mar 2026 | 108,040 | 6,248 | 5.8% | 4,855 | 5,746 | -1,721 | S100YHXH |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥41.7M |
| Operating income per employee (consolidated) | ¥2.4M |
| Net income per employee (consolidated) | ¥1.9M |

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) | 2,757 | 2,819 | 2,775 | 2,704 | 2,593 |
| Average salary (parent company) | ¥6.1M | ¥6.1M | ¥6.2M | ¥6.4M | ¥6.5M |
| Average age (parent company) | 40.0 years | 39.3 years | 40.1 years | 40.2 years | 40.2 years |
| Average tenure (parent company) | 16.8 years | 16.0 years | 15.9 years | 15.7 years | 16.1 years |

Year over year: Employees (consolidated) -4.1% · Revenue (consolidated) -1.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Industrial products | 75,756 | 70.1% | 513 | 0.7% |
| Daily commodities | 32,040 | 29.7% | 7,643 | 23.9% |
| Other | 243 | 0.2% | 380 | 156.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Industrial products | 70.1% | 6.0% | -64.1 | 0.7% |
| Daily commodities | 29.7% | 89.5% | 59.9 | 23.9% |
| Other | 0.2% | 4.5% | 4.2 | 156.4% |

Segment → industry: Industrial products → Chemicals / Industrial products → Housing Equipment & Building Materials / Daily commodities → Toiletries & Household Products

## 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 | 5,746 | 5.3% | S100YHXH |
| Capital expenditure | 7,467 | 6.9% | S100YHXH |
| Free cash flow | -1,721 | -1.6% | 算出 |
| Investing cash flow | -8,740 | -8.1% | S100YHXH |
| Financing cash flow | -3,492 | -3.2% | S100YHXH |
| Dividends paid | 2,065 | 1.9% | S100YHXH |
| Share buyback | 1,304 | 1.2% | S100YHXH |
| Change in cash | -6,360 | -5.9% | S100YHXH |
| Cash and equivalents | 32,572 | 30.1% | S100YHXH |

## 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 | 31,810 | 32,616 | 37,667 | 38,932 | 32,572 | S100TVPA, S100W4ZO, S100YHXH |
| Total assets | 117,560 | 127,176 | 143,858 | 146,134 | 164,167 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Net assets | 74,916 | 79,099 | 91,581 | 94,464 | 110,631 | S100TVPA, S100W4ZO, S100YHXH |
| Share capital | 13,047 | 13,047 | 13,047 | 13,047 | 13,047 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Property, plant and equipment | 19,824 | 20,997 | 20,588 | 21,818 | 25,048 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Intangible assets excluding goodwill | 642 | 1,066 | 1,901 | 2,569 | 2,265 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Investment securities | 22,626 | 23,930 | 33,187 | 30,979 | 54,426 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Current assets | 73,026 | 78,364 | 85,487 | 89,348 | 81,918 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Current liabilities | 30,797 | 36,330 | 36,976 | 36,945 | 33,672 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Trade payables | 20,118 | 23,578 | 24,954 | 23,888 | 21,514 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Short-term borrowings | 2,654 | 3,318 | 2,212 | 2,324 | 3,118 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Long-term borrowings | 1,044 | 100 | 1,138 | 1,014 | 100 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Total liabilities | 42,643 | 48,076 | 52,277 | 51,669 | 53,536 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Non-controlling interests | 2,954 | 3,104 | 2,921 | 107 | 117 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Equity attributable to owners of parent | 61,418 | 61,639 | 66,790 | 70,519 | 72,055 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Retained earnings | 51,241 | 52,115 | 55,612 | 58,855 | 60,779 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |
| Treasury stock | -3,426 | -4,078 | -2,437 | -2,652 | -3,041 | S100R9JI, S100TVPA, S100W4ZO, S100YHXH |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 20% | S100YHXH |
| Property, plant and equipment | 15% | S100YHXH |
| Intangibles and goodwill | 2% | S100YHXH |
| Investment securities | 33% | S100YHXH |
| Other assets | 30% | S100YHXH |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 13% | S100YHXH |
| Other liabilities | 20% | S100YHXH |
| Equity | 67% | S100YHXH |

### 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 | 117,560 | 127,176 | 143,858 | 146,134 | 164,167 |
| Equity | 74,916 | 79,099 | 91,581 | 94,464 | 110,631 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 31,810 | 32,616 | 37,667 | 38,932 | 32,572 |

## 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) | 23.2% | S100YHXH |
| Fixed assets ÷ total assets | 15.3% | S100YHXH |
| Goodwill ÷ parent equity | — | —, S100YHXH |

### 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) | 19.8% |
| Cash ÷ revenue | 30.1% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 92.0% |
| Cash vs. profit gap | 891 JPY mn (of net income 18.4%) |
| Shareholder returns / net income | 69.4% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 42.5% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 6.9% |
| Investing CF relative to operating CF | 152.1% |

## 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 | 6.2% | 0.76× | 4.7% | 1.91× | 9.1% | S100R9JI |
| 2023 | 4.9% | 0.81× | 4.0% | 1.99× | 8.0% | S100TVPA |
| 2024 | 7.0% | 0.78× | 5.5% | 2.11× | 11.5% | S100W4ZO |
| 2025 | 6.1% | 0.75× | 4.6% | 2.11× | 9.7% | S100YHXH |
| 2026 | 4.5% | 0.70× | 3.1% | 2.18× | 6.8% | S100YHXH |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 明治安田生命保険相互会社 | Major shareholder | 8.7% | 2026-03-31 |
| 丸紅株式会社 | Major shareholder | 8.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社 | Major shareholder | 7.7% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 5.0% | 2026-03-31 |
| 有限会社八幡興産 | Major shareholder | 4.1% | 2026-03-31 |
| やよい会 | Major shareholder | 3.9% | 2026-03-31 |
| BNP PARIBAS MADRID／２S／JASDEC／SPANISH RESIDENTS／UCITS ASSETS（常任代理人 香港上海銀行東京支店 カストディ業務部） | Major shareholder | 3.5% | 2026-03-31 |
| 損害保険ジャパン株式会社 | Major shareholder | 2.0% | 2026-03-31 |
| テイ・エス テック株式会社 | Major shareholder | 1.9% | 2026-03-31 |
| 株式会社日本カストディ銀行 | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第130期(2025/04/01－2026/03/31) | S100YHXH | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHXH,, |
| 有価証券報告書－第129期(2024/04/01－2025/03/31) | S100W4ZO | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4ZO,, |
| 有価証券報告書－第128期(2023/04/01－2024/03/31) | S100TVPA | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TVPA,, |
| 有価証券報告書－第127期(2022/04/01－2023/03/31) | S100R9JI | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9JI,, |
| 有価証券報告書－第126期(令和3年4月1日－令和4年3月31日) | S100OIRC | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OIRC,, |
| 有価証券報告書－第125期(令和2年4月1日－令和3年3月31日) | S100LQXN | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQXN,, |

## 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).