# OPTOELECTRONICS CO.,LTD.: business model and financials

> Latest period: FY ending Nov 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第50期(2024/12/01－2025/11/30) (S100XNIW)
> Page: https://vizora.meequs.com/en/company/optoelectronics
> Retrieved: 2026-09-30T20:58:24.937Z

## Company

Optoelectronics, founded in 1976, is a company in PCs & Peripherals listed on TSE Standard. It has 164 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OPTOELECTRONICS CO.,LTD. |
| Ticker | 6664 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6664.T) |
| Listing | TSE Standard |
| Head office | 埼玉県蕨市塚越4丁目12番17号 |
| Representative (per filing) | 代表取締役社長 野々垣 龍哉 |
| Founded | Dec 1976 |
| Share capital | ¥942.4M |
| Employees (consolidated) | 164 |
| Average salary (parent only) | ¥6M |
| Fiscal year end | November |
| Website | www.opto.co.jp (https://www.opto.co.jp/) |
| Corporate number | 1030001020927 |
| EDINET | E02095 |
| Industries (Vizora) | PCs & Peripherals |

> Profile source: annual securities report (S100XNIW, filed 2026-02-26). As of filing

## Five-axis industry profile

Primary industry: PCs & Peripherals (2025-11-30)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 13.6 | 11 |
| Profitability | 17.9 | 14 |
| Efficiency | 3.6 | 14 |

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 Optoelectronics's sales come from Japan, with Europe, Asia and Other and America making up much of the rest.
- It lost about ¥4 for every ¥100 of sales at the operating level.
- Revenue changed +6.8% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥6.77B |  |
| Operating income | -¥254.8M | Margin -3.8% |
| Net income | -¥226M | Margin -3.3% |
| Free cash flow | -¥106.6M |  |
| Largest business | Japan | of segment revenue 47.1% |
| Employees (consolidated) | 164 |  |
| EPS | ¥342.34 |  |
| Book value per share | ¥184.67 |  |
| Equity ratio | 45.6% |  |
| Shares outstanding | 6,578,000 |  |
| Treasury shares | 400,000 |  |
| Shareholders | 3,767 |  |
| Average salary (parent only) | ¥6M | Filing company only |
| Cash ratio | 32.1% | Cash ÷ revenue 53.8% |
| Vs. industry median margin | -7.5 pp | PCs & Peripherals |
| ROA | -1.8% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 100% of positive segment profit
- FY2025, segment profit share differs by 53 points
- FY2025, cash is 32% of total assets

## What changed in 5 years

| Metric | FY ending Nov 2020 | FY ending Nov 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6549633000 | ¥6772484000 | +3.4% |
| Operating income | ¥-308895000 | ¥-254842000 | — |
| Operating margin | -4.7% | -3.8% | +1 pp |
| Employees | 213 people | 164 people | -23.0% |
| Cash and equivalents | ¥4397188000 | ¥3646063000 | -17.1% |

### Change in segment revenue mix

Span: FY ending Nov 2020 → FY ending Nov 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 日本 → 日本 | 44.0% |
| 米国 → 米国 | 20.8% |
| 米国 → 事業再編・廃止 | 2.1% |
| 欧州・アジア他 → 欧州・アジア他 | 32.1% |
| 欧州・アジア他 → 事業再編・廃止 | 1.1% |
| 新設・再編 → 日本 | 3.2% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Japan | 5 years | +2.1% | ¥3192665000 | 1.5% | 2 |
| Europe, Asia and Other | 5 years | +0.0% | ¥2174387000 | -4.6% | 2 |
| America | 5 years | -1.2% | ¥1405431000 | -14.2% | 2 |

## Income statement（FY ending Nov 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 6,772 | 100.0% | S100XNIW |
| Cost of revenue | 4,289 | 63.3% | S100XNIW |
| Gross profit | 2,483 | 36.7% | S100XNIW |
| SG&A | 2,738 | 40.4% | S100XNIW |
| Operating income | -255 | -3.8% | S100XNIW |
| Ordinary income | -422 | -6.2% | S100XNIW |
| Pretax income | -194 | -2.9% | S100XNIW |
| Income tax | 32 | 0.5% | S100XNIW |
| Net income | -226 | -3.3% | S100XNIW |
| Net income attributable to owners | -226 | -3.3% | S100XNIW |

## Per ¥100 of revenue（FY ending Nov 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 63 |
| SG&A | 41 |
| Operating income | -4 |
| (Ref.) Net income | -3 |

### Margin funnel

Gross margin 36.7% → Operating margin -3.8% → Net margin -3.3%
Derived from reported figures (DERIVED).

## Year over year（FY ending Nov 2024 → FY ending Nov 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 6,343 | 6,772 | 430 | +6.8% |
| Gross profit | 2,482 | 2,483 | 1 | +0.0% |
| Operating income | -532 | -255 | 277 | — |
| Net income attributable to owners | -672 | -226 | 446 | — |
| Operating cash flow | -251 | 51 | 302 | — |
| Free cash flow | -425 | -107 | 318 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Nov 2019 | 7,254 | 12 | 0.2% | 88 | 117 | -80 | S100KUS7 |
| FY ending Nov 2020 | 6,550 | -309 | -4.7% | -1,254 | -67 | -342 | S100NK4G |
| FY ending Nov 2021 | 8,318 | 1,178 | 14.2% | 448 | 1,369 | 1,330 | S100QADA |
| FY ending Nov 2022 | 7,211 | 316 | 4.4% | -48 | -123 | -210 | S100SXXC |
| FY ending Nov 2023 | 6,878 | -462 | -6.7% | -815 | -1,491 | -1,704 | S100VAB2 |
| FY ending Nov 2024 | 6,343 | -532 | -8.4% | -672 | -251 | -425 | S100XNIW |
| FY ending Nov 2025 | 6,772 | -255 | -3.8% | -226 | 51 | -107 | S100XNIW |

## People and productivity（FY ending Nov 2025, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥41.3M |
| Operating income per employee (consolidated) | -¥1.6M |
| Net income per employee (consolidated) | -¥1.4M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 206 | 187 | 184 | 174 | 164 |
| Average salary (parent company) | ¥6M | ¥6.2M | ¥6.5M | ¥5.8M | ¥6M |
| Average age (parent company) | 43.1 years | 44.1 years | 45.6 years | 46.0 years | 48.0 years |
| Average tenure (parent company) | 9.4 years | 10.5 years | 11.3 years | 12.0 years | 12.5 years |

Year over year: Employees (consolidated) -5.7% · Revenue (consolidated) +6.8%

## Segments（FY ending Nov 2025, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 3,193 | 47.1% | 49 | 1.5% |
| America | 1,405 | 20.8% | -200 | -14.2% |
| Europe, Asia and Other | 2,174 | 32.1% | -100 | -4.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 47.1% | 100.0% | 52.9 | 1.5% |
| America | 20.8% | — | — | -14.2% |
| Europe, Asia and Other | 32.1% | — | — | -4.6% |

Loss-making segment (excluded from profit shares): America -200 JPY mn

Loss-making segment (excluded from profit shares): Europe, Asia and Other -100 JPY mn

Segment → industry: Europe, Asia and Other → PCs & Peripherals / America → PCs & Peripherals / Japan → PCs & Peripherals

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Nov 2025, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 51 | 0.7% | S100XNIW |
| Capital expenditure | 157 | 2.3% | S100XNIW |
| Free cash flow | -107 | -1.6% | 算出 |
| Investing cash flow | 164 | 2.4% | S100XNIW |
| Financing cash flow | -1,570 | -23.2% | S100XNIW |
| Change in cash | -1,021 | -15.1% | S100XNIW |
| Cash and equivalents | 3,646 | 53.8% | S100XNIW |

## 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 Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 5,625 | 6,279 | 5,988 | 4,667 | 3,646 | S100SXXC, S100VAB2, S100XNIW |
| Total assets | 12,770 | 15,157 | 15,564 | 13,514 | 11,347 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Net assets | 5,046 | 5,885 | 5,567 | 4,902 | 5,170 | S100SXXC, S100VAB2, S100XNIW |
| Share capital | 942 | 942 | 942 | 942 | 942 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Trade receivables | 1,498 | — | — | — | — | S100QADA |
| Property, plant and equipment | 2,263 | 2,261 | 2,265 | 2,254 | 2,198 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Intangible assets excluding goodwill | 288 | 278 | 276 | 270 | 264 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Investment securities | 3 | 5 | 5 | 8 | 10 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Current assets | 9,700 | 12,166 | 12,848 | 10,836 | 8,727 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Current liabilities | 4,063 | 5,248 | 4,831 | 4,348 | 3,414 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Trade payables | 427 | 1,231 | 652 | 370 | — | S100QADA, S100SXXC, S100VAB2 |
| Short-term borrowings | 163 | 323 | 283 | 243 | 120 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Long-term borrowings | 3,619 | 3,980 | 5,121 | 4,220 | 2,716 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Total liabilities | 7,724 | 9,272 | 9,997 | 8,612 | 6,177 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Equity attributable to owners of parent | 5,351 | 5,303 | 4,488 | 3,816 | 3,590 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Retained earnings | 4,402 | 4,354 | 3,539 | 2,867 | 2,641 | S100QADA, S100SXXC, S100VAB2, S100XNIW |
| Treasury stock | -212 | -212 | -212 | -212 | -212 | S100QADA, S100SXXC, S100VAB2, S100XNIW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 32% | S100XNIW |
| Property, plant and equipment | 20% | S100XNIW |
| Intangibles and goodwill | 2% | S100XNIW |
| Investment securities | 0% | S100XNIW |
| Other assets | 46% | S100XNIW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 54% | S100XNIW |
| Equity | 46% | S100XNIW |
| Other liabilities | 0% | S100XNIW |

### Balance sheet history

| Metric | FY ending Nov 2021 | FY ending Nov 2022 | FY ending Nov 2023 | FY ending Nov 2024 | FY ending Nov 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 12,770 | 15,157 | 15,564 | 13,514 | 11,347 |
| Equity | 5,046 | 5,885 | 5,567 | 4,902 | 5,170 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 5,625 | 6,279 | 5,988 | 4,667 | 3,646 |

## 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) | 32.5% | S100XNIW |
| Fixed assets ÷ total assets | 19.4% | S100XNIW |
| Goodwill ÷ parent equity | — | —, S100XNIW |

### 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) | 32.1% |
| Cash ÷ revenue | 53.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | 277 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.3% |
| Investing CF relative to operating CF | 324.5% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2021 | 5.4% | 0.65× | 3.5% | 2.39× | 8.4% | S100QADA |
| 2022 | — | —× | -0.3% | —× | — | S100SXXC |
| 2023 | — | —× | -5.3% | —× | — | S100VAB2 |
| 2024 | — | —× | -4.6% | —× | — | S100XNIW |
| 2025 | — | —× | -1.8% | —× | — | S100XNIW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 俵 政美 | Major shareholder | 19.1% | 2025-11-30 |
| 株式会社俵興産 | Major shareholder | 9.9% | 2025-11-30 |
| 秋元 利規 | Major shareholder | 5.3% | 2025-11-30 |
| 株式会社ＳＢＩ証券 | Major shareholder | 4.0% | 2025-11-30 |
| 楽天証券株式会社共有口 | Major shareholder | 3.6% | 2025-11-30 |
| 佐野 史和 | Major shareholder | 2.4% | 2025-11-30 |
| 二反田 静太郎 | Major shareholder | 2.2% | 2025-11-30 |
| 神尾 尚秀 | Major shareholder | 1.9% | 2025-11-30 |
| 久保田 正明 | Major shareholder | 1.5% | 2025-11-30 |
| ＩＮＴＥＲＡＣＴＩＶＥ ＢＲＯＫＥＲＳ ＬＬＣ | Major shareholder | 1.3% | 2025-11-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第50期(2024/12/01－2025/11/30) | S100XNIW | 2026-02-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XNIW,, |
| 有価証券報告書－第49期(2023/12/01－2024/11/30) | S100VAB2 | 2025-02-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VAB2,, |
| 有価証券報告書－第48期(2022/12/01－2023/11/30) | S100SXXC | 2024-02-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100SXXC,, |
| 有価証券報告書－第47期(2021/12/01－2022/11/30) | S100QADA | 2023-02-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QADA,, |
| 有価証券報告書－第46期(令和2年12月1日－令和3年11月30日) | S100NK4G | 2022-02-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NK4G,, |
| 有価証券報告書－第45期(令和1年12月1日－令和2年11月30日) | S100KUS7 | 2021-02-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100KUS7,, |

## 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).