# ORIENTAL CHAIN MFG. CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第107期(2025/04/01－2026/03/31) (S100YZBS)
> Page: https://vizora.meequs.com/en/company/oriental-chain-mfg
> Retrieved: 2026-09-30T22:11:28.711Z

## Company

Oriental Chain MFG., founded in 1947, is a company in Real Estate Development & Leasing listed on TSE Standard. It has 205 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ORIENTAL CHAIN MFG. CO., LTD. |
| Ticker | 6380 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6380.T) |
| Listing | TSE Standard |
| Head office | 石川県白山市宮永市町485番地 |
| Representative (per filing) | 代表取締役社長 杉山 敏之 |
| Founded | Aug 1947 |
| Share capital | ¥1.22B |
| Employees (consolidated) | 205 |
| Average salary (parent only) | ¥4.9M |
| Fiscal year end | March |
| Website | www.ocm.co.jp (https://www.ocm.co.jp/) |
| Corporate number | 8220001009044 |
| EDINET | E01581 |
| Industries (Vizora) | Real Estate Development & Leasing, Specialty Trading & Wholesale, Industrial Machinery |

> Profile source: annual securities report (S100YZBS, filed 2026-08-28). As of filing

## Five-axis industry profile

Primary industry: Industrial Machinery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 5.3 | 122 |
| Cash conversion | 99.6 | 116 |
| Efficiency | 70.1 | 122 |

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 93% of Oriental Chain MFG.'s sales come from Chains Reportable Segments Member, with Metal Injection Molding Reportable Segments Member and Real Estate Reportable segments making up much of the rest.
- Operating profit was close to zero, a slight profit per ¥100 of sales.
- Revenue changed +1.4% from the prior year, operating profit -88.8%.

## Company structure

- Segment revenue mix: Chains Reportable Segments Member 93.1%、Metal Injection Molding Reportable Segments Member 6.0%、Real Estate Reportable segments 0.9%
- Revenue → net income: ¥4110588000 → ¥126695000
- Net income → operating cash flow: ¥126695000 → ¥338823000（difference ¥212128000）
- Main uses of operating cash flow: CapEx ¥343825000 / dividends ¥41472000 / buybacks ¥149000
- Change in cash: ¥123104000
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 | ¥4.11B |  |
| Operating income | ¥16M | Margin 0.4% |
| Net income | ¥126.7M | Margin 3.1% |
| Free cash flow | -¥5M |  |
| Largest business | Chains Reportable Segments Member | of segment revenue 93.1% |
| Employees (consolidated) | 205 |  |
| EPS | ¥99.3 |  |
| Diluted EPS | ¥87.36 |  |
| Book value per share | ¥1394.1 |  |
| Equity ratio | 43.3% |  |
| Shares outstanding | 1,602,233 |  |
| Treasury shares | 81,500 |  |
| Shareholders | 692 |  |
| Average salary (parent only) | ¥4.9M | Filing company only |
| Cash ratio | 8.8% | Cash ÷ revenue 10.5% |
| Vs. industry median margin | -7.2 pp | Industrial Machinery |
| ROE | 6.6% | Derived from disclosed figures |
| ROA | 2.5% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.7× net income
- FY2026, one segment accounts for 80% of positive segment profit

## 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 | ¥2929750000 | ¥4110588000 | — |
| Operating income | ¥8352000 | ¥15988000 | — |
| Operating margin | 0.3% | 0.4% | +0.1 pp |
| Employees | 183 people | 205 people | — |
| Cash and equivalents | ¥344675000 | ¥431446000 | — |

### 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 |
| --- | ---: |
| チェーン事業 → チェーン事業 | 92.5% |
| 金属射出成形事業 → 金属射出成形事業 | 6.0% |
| 金属射出成形事業 → 事業再編・廃止 | 0.0% |
| 不動産賃貸事業 → 不動産賃貸事業 | 0.9% |
| 不動産賃貸事業 → 事業再編・廃止 | 0.6% |
| 新設・再編 → チェーン事業 | 0.6% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Chains Reportable Segments Member | — | — | ¥3825973000 | 6.4% | 2 |
| Metal Injection Molding Reportable Segments Member | — | — | ¥247134000 | 16.0% | 2 |
| Real Estate Reportable segments | — | — | ¥37480000 | 62.2% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,111 | 100.0% | S100YZBS |
| Cost of revenue | 3,368 | 81.9% | S100YZBS |
| Gross profit | 743 | 18.1% | S100YZBS |
| SG&A | 727 | 17.7% | S100YZBS |
| Operating income | 16 | 0.4% | S100YZBS |
| Ordinary income | -17 | -0.4% | S100YZBS |
| Pretax income | 121 | 2.9% | S100YZBS |
| Income tax | -5 | -0.1% | S100YZBS |
| Net income | 127 | 3.1% | S100YZBS |
| Net income attributable to owners | 127 | 3.1% | S100YZBS |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 18 |
| Operating income | 0 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 18.1% → Operating margin 0.4% → Net margin 3.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.4%; Core profit growth: -88.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -65.59×
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 | 4,056 | 4,111 | 55 | +1.4% |
| Gross profit | 785 | 743 | -42 | -5.3% |
| Operating income | 143 | 16 | -127 | -88.8% |
| Net income attributable to owners | 100 | 127 | 26 | +26.3% |
| Operating cash flow | -7 | 339 | 346 | — |
| Free cash flow | -568 | -5 | 563 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 3,265 | 15 | 0.4% | -5 | 102 | -224 | S100LTGA |
| FY ending Mar 2021 | 2,930 | 8 | 0.3% | -9 | 254 | 89 | S100OGVU |
| FY ending Mar 2022 | 3,357 | 108 | 3.2% | 28 | 193 | -99 | S100R5KC |
| FY ending Mar 2023 | 3,905 | 116 | 3.0% | 94 | 81 | -183 | S100TR2G |
| FY ending Mar 2024 | 4,083 | 202 | 4.9% | 149 | 322 | 24 | S100TR2G |
| FY ending Mar 2025 | 4,056 | 143 | 3.5% | 100 | -7 | -568 | S100YZBS |
| FY ending Mar 2026 | 4,111 | 16 | 0.4% | 127 | 339 | -5 | S100YZBS |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥20.1M |
| Operating income per employee (consolidated) | ¥78K |
| Net income per employee (consolidated) | ¥618K |

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) | 184 | 185 | 192 | 210 | 205 |
| Average salary (parent company) | ¥4.2M | ¥4.3M | ¥4.7M | ¥4.9M | ¥4.9M |
| Average age (parent company) | 41.9 years | 42.0 years | 42.5 years | 42.9 years | 43.8 years |
| Average tenure (parent company) | 12.8 years | 12.9 years | 12.6 years | 13.0 years | 12.6 years |

Year over year: Employees (consolidated) -2.4% · Revenue (consolidated) +1.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Chains Reportable Segments Member | 3,826 | 93.1% | 245 | 6.4% |
| Metal Injection Molding Reportable Segments Member | 247 | 6.0% | 40 | 16.0% |
| Real Estate Reportable segments | 37 | 0.9% | 23 | 62.2% |
| Other | — | 0.0% | -1 | — |

### 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 | Profit share | Margin |
| --- | ---: | ---: |
| Chains Reportable Segments Member | 79.6% | 6.4% |
| Metal Injection Molding Reportable Segments Member | 12.8% | 16.0% |
| Real Estate Reportable segments | 7.6% | 62.2% |
| Other | — | — |

Loss-making segment (excluded from profit shares): Other -1 JPY mn

Segment → industry: Real Estate Reportable segments → Real Estate Development & Leasing / Other → Specialty Trading & Wholesale / Metal Injection Molding Reportable Segments Member → Industrial Machinery / Chains Reportable Segments Member → 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 | 339 | 8.2% | S100YZBS |
| Capital expenditure | 344 | 8.4% | S100YZBS |
| Free cash flow | -5 | -0.1% | 算出 |
| Investing cash flow | -139 | -3.4% | S100YZBS |
| Financing cash flow | -74 | -1.8% | S100YZBS |
| Dividends paid | 41 | 1.0% | S100YZBS |
| Share buyback | 0 | 0.0% | S100YZBS |
| Change in cash | 123 | 3.0% | S100YZBS |
| Cash and equivalents | 431 | 10.5% | S100YZBS |

## 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 | 339 | 250 | 357 | 308 | 431 | S100TR2G, S100YZBS |
| Total assets | 4,110 | 4,230 | 4,666 | 5,130 | 4,896 | S100R5KC, S100TR2G, S100YZBS |
| Net assets | 1,457 | 1,552 | 1,732 | 1,856 | 2,149 | S100TR2G, S100YZBS |
| Share capital | 1,067 | 1,067 | 1,067 | 1,067 | 1,223 | S100R5KC, S100TR2G, S100YZBS |
| Property, plant and equipment | 1,370 | 1,338 | 1,462 | 1,816 | 1,833 | S100R5KC, S100TR2G, S100YZBS |
| Intangible assets excluding goodwill | 35 | 81 | 83 | 202 | 140 | S100R5KC, S100TR2G, S100YZBS |
| Goodwill | — | — | — | 23 | — | S100YZBS |
| Investment securities | 92 | 95 | 177 | 224 | 10 | S100R5KC, S100TR2G, S100YZBS |
| Current assets | 2,372 | 2,488 | 2,706 | 2,665 | 2,633 | S100R5KC, S100TR2G, S100YZBS |
| Current liabilities | 1,448 | 1,476 | 1,720 | 1,904 | 1,545 | S100R5KC, S100TR2G, S100YZBS |
| Trade payables | — | — | — | 477 | 134 | S100YZBS |
| Short-term borrowings | 190 | 235 | 373 | 817 | 150 | S100R5KC, S100TR2G, S100YZBS |
| Long-term borrowings | 853 | 866 | 864 | 1,007 | 801 | S100R5KC, S100TR2G, S100YZBS |
| Total liabilities | 2,653 | 2,678 | 2,934 | 3,274 | 2,747 | S100R5KC, S100TR2G, S100YZBS |
| Equity attributable to owners of parent | 1,450 | 1,544 | 1,644 | 1,720 | 2,117 | S100R5KC, S100TR2G, S100YZBS |
| Retained earnings | 265 | 359 | 460 | 536 | 621 | S100R5KC, S100TR2G, S100YZBS |
| Treasury stock | -50 | -51 | -51 | -51 | -51 | S100R5KC, S100TR2G, S100YZBS |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 9% | S100YZBS |
| Property, plant and equipment | 37% | S100YZBS |
| Intangibles and goodwill | 3% | S100YZBS |
| Investment securities | 0% | S100YZBS |
| Other assets | 51% | S100YZBS |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YZBS |
| Other liabilities | 53% | S100YZBS |
| Equity | 44% | S100YZBS |
| Other liabilities | 0% | S100YZBS |

### 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 | 4,110 | 4,230 | 4,666 | 5,130 | 4,896 |
| Equity | 1,457 | 1,552 | 1,732 | 1,856 | 2,149 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 339 | 250 | 357 | 308 | 431 |

## 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) | 44.6% | S100YZBS |
| Fixed assets ÷ total assets | 37.4% | S100YZBS |
| Goodwill ÷ parent equity | — | —, S100YZBS |

### 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) | 8.8% |
| Cash ÷ revenue | 10.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 2119.2% |
| Cash vs. profit gap | 212 JPY mn (of net income 167.4%) |
| Shareholder returns / net income | 32.9% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 32.7% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 8.4% |
| Investing CF relative to operating CF | 41.2% |

## 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 | 0.8% | 0.82× | 0.7% | 2.83× | 1.9% | S100R5KC |
| 2023 | 2.4% | 0.94× | 2.3% | 2.79× | 6.3% | S100TR2G |
| 2024 | 3.7% | 0.92× | 3.4% | 2.79× | 9.4% | S100TR2G |
| 2025 | 2.5% | 0.79× | 2.0% | 2.98× | 5.8% | S100YZBS |
| 2026 | 3.1% | 0.82× | 2.5% | 2.61× | 6.6% | S100YZBS |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 合同会社シーディーワン | Major shareholder | 10.9% | 2026-03-31 |
| 片山チエン株式会社 | Major shareholder | 9.1% | 2026-03-31 |
| ORCHID PLUS PTE.LTD. （常任代理人 福和明子） | Major shareholder | 5.9% | 2026-03-31 |
| 楽天証券株式会社共有口 | Major shareholder | 5.1% | 2026-03-31 |
| 樋口尚子 | Major shareholder | 4.8% | 2026-03-31 |
| 加賀ホールディングス合同会社 | Major shareholder | 4.6% | 2026-03-31 |
| 東海東京証券株式会社 | Major shareholder | 4.3% | 2026-03-31 |
| 小松周平 | Major shareholder | 3.0% | 2026-03-31 |
| 株式会社Ｕｃａｐｉ | Major shareholder | 2.9% | 2026-03-31 |
| 株式会社ＳＢＩ証券 | Major shareholder | 2.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第107期(2025/04/01－2026/03/31) | S100YZBS | 2026-08-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YZBS,, |
| 有価証券報告書－第106期(2024/04/01－2025/03/31) | S100W9U3 | 2025-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W9U3,, |
| 有価証券報告書－第105期(2023/04/01－2024/03/31) | S100TR2G | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TR2G,, |
| 有価証券報告書－第104期(2022/04/01－2023/03/31) | S100R5KC | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5KC,, |
| 有価証券報告書－第103期(令和3年4月1日－令和4年3月31日) | S100OGVU | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OGVU,, |
| 有価証券報告書－第102期(令和2年4月1日－令和3年3月31日) | S100LTGA | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LTGA,, |

## 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).