# ORIGINAL ENGINEERING CONSULTANTS CO.,LTD: business model and financials

> Latest period: FY ending Dec 2025, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第64期(2025/01/01－2025/12/31) (S100XU33)
> Page: https://vizora.meequs.com/en/company/original-engineering-consultants
> Retrieved: 2026-09-30T21:36:47.962Z

## Company

Original Engineering Consultants, founded in 1962, is a company in IT Services & System Integration listed on TSE Standard. It has 498 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ORIGINAL ENGINEERING CONSULTANTS CO.,LTD. |
| Ticker | 4642 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4642.T) |
| Listing | TSE Standard |
| Head office | 東京都渋谷区元代々木町30番13号 |
| Representative (per filing) | 代表取締役社長 菅 伸彦 |
| Founded | Jan 1962 |
| Share capital | ¥1.09B |
| Employees (consolidated) | 498 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | December |
| Website | www.oec-solution.co.jp (https://www.oec-solution.co.jp/) |
| Corporate number | 8011001065098 |
| EDINET | E04955 |
| Industries (Vizora) | IT Services & System Integration, Disaster Prevention & Infrastructure Maintenance |

> Profile source: annual securities report (S100XU33, filed 2026-03-26). As of filing

## Five-axis industry profile

Primary industry: Disaster Prevention & Infrastructure Maintenance (2025-12-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Profitability | 63.8 | 40 |
| Cash conversion | 35.5 | 38 |
| Efficiency | 23.8 | 40 |

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 88% of Original Engineering Consultants's sales come from Construction consultant, with Information processing service business making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +19.6% from the prior year, operating profit +9.0%.

## Company structure

- Segment revenue mix: Construction consultant 88.2%、Information processing service business 11.8%
- Revenue → net income: ¥8515210000 → ¥541343000
- Net income → operating cash flow: ¥541343000 → ¥604466000（difference ¥63123000）
- Main uses of operating cash flow: CapEx ¥169633000 / dividends ¥192334000 / buybacks ¥40000
- Change in cash: ¥416298000
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 | ¥8.52B |  |
| Operating income | ¥921.8M | Margin 10.8% |
| Net income | ¥541.3M | Margin 6.4% |
| Free cash flow | ¥434.8M |  |
| Largest business | Construction consultant | of segment revenue 88.2% |
| Employees (consolidated) | 498 |  |
| EPS | ¥113.46 |  |
| Book value per share | ¥1291.67 |  |
| Equity ratio | 66.1% |  |
| Shares outstanding | 7,396,800 |  |
| Treasury shares | 1,386,300 |  |
| Shareholders | 2,031 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 29.7% | Cash ÷ revenue 41.7% |
| Vs. industry median margin | +2.1 pp | Disaster Prevention & Infrastructure Maintenance |
| ROE | 7.4% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2025, one segment accounts for 98% of positive segment profit
- FY2025, cash is 30% of total assets

## What changed in 5 years

Currency or consolidation scope differs; percentage changes are omitted.

| Metric | FY ending Dec 2020 | FY ending Dec 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6274130000 | ¥8515210000 | — |
| Operating income | ¥664987000 | ¥921797000 | — |
| Operating margin | 10.6% | 10.8% | +0.2 pp |
| Employees | 300 people | 498 people | — |
| Cash and equivalents | ¥2660092000 | ¥3548478000 | — |

### Change in segment revenue mix

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

| Flow | Revenue share |
| --- | ---: |
| 新設・再編 → 建設コンサルタント事業 | 88.2% |
| 新設・再編 → 情報処理サービス事業 | 11.8% |

Segment revenue source references: 2 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,515 | 100.0% | S100XU33 |
| Cost of revenue | 5,663 | 66.5% | 算出 |
| Gross profit | 2,852 | 33.5% | S100XU33 |
| SG&A | 1,930 | 22.7% | S100XU33 |
| Operating income | 922 | 10.8% | S100XU33 |
| Ordinary income | 934 | 11.0% | S100XU33 |
| Pretax income | 918 | 10.8% | S100XU33 |
| Income tax | 376 | 4.4% | S100XU33 |
| Net income | 541 | 6.4% | S100XU33 |
| Net income attributable to owners | 541 | 6.4% | S100XU33 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 23 |
| Operating income | 11 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 33.5% → Operating margin 10.8% → Net margin 6.4%
Derived from reported figures (DERIVED).

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

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 7,122 | 8,515 | 1,393 | +19.6% |
| Gross profit | 2,388 | 2,852 | 463 | +19.4% |
| Operating income | 846 | 922 | 76 | +9.0% |
| Operating cash flow | 242 | 604 | 363 | +150.2% |
| Free cash flow | 152 | 435 | 283 | +186.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Dec 2019 | 6,339 | 800 | 12.6% | 481 | 426 | 323 | S100T455 |
| FY ending Dec 2020 | 6,274 | 665 | 10.6% | 375 | -102 | -173 | S100VH5F |
| FY ending Dec 2021 | 6,207 | 576 | 9.3% | 376 | 282 | 221 | S100VH5F |
| FY ending Dec 2022 | 6,486 | 740 | 11.4% | 416 | 692 | 623 | S100VH5F |
| FY ending Dec 2023 | 6,633 | 773 | 11.7% | 477 | 399 | 347 | S100VH5F |
| FY ending Dec 2024 | 7,122 | 846 | 11.9% | 650 | 242 | 152 | S100VH5F |
| FY ending Dec 2025 | 8,515 | 922 | 10.8% | 541 | 604 | 435 | S100XU33 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥17.1M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.1M |

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

| History | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 302 | 298 | 295 | 309 | 498 |
| Average salary (parent company) | ¥7.1M | ¥7M | ¥7.3M | ¥7.7M | ¥7.7M |
| Average age (parent company) | 39.8 years | 40.8 years | 40.9 years | 40.3 years | 40.0 years |
| Average tenure (parent company) | 11.5 years | 12.5 years | 12.7 years | 12.1 years | 11.4 years |

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Construction consultant | 7,506 | 88.2% | 1,030 | 13.7% |
| Information processing service business | 1,009 | 11.8% | 17 | 1.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Construction consultant | 88.2% | 98.3% | 10.2 | 13.7% |
| Information processing service business | 11.8% | 1.7% | -10.2 | 1.7% |

Segment → industry: Information processing service business → IT Services & System Integration / Construction consultant → Disaster Prevention & Infrastructure Maintenance

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 604 | 7.1% | S100XU33 |
| Capital expenditure | 170 | 2.0% | S100XU33 |
| Free cash flow | 435 | 5.1% | 算出 |
| Investing cash flow | -1,496 | -17.6% | S100XU33 |
| Financing cash flow | 1,308 | 15.4% | S100XU33 |
| Dividends paid | 192 | 2.3% | S100XU33 |
| Share buyback | 0 | 0.0% | S100XU33 |
| Change in cash | 416 | 4.9% | S100XU33 |
| Cash and equivalents | 3,548 | 41.7% | S100XU33 |

## 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 Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 2,836 | 3,026 | 3,265 | 3,132 | 3,548 | S100T455, S100VH5F, S100XU33 |
| Total assets | 7,100 | 7,598 | 7,886 | 8,311 | 11,957 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Net assets | 5,915 | 6,154 | 6,493 | 7,060 | 7,898 | S100T455, S100VH5F, S100XU33 |
| Share capital | 1,093 | 1,093 | 1,093 | 1,093 | 1,093 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Property, plant and equipment | 492 | 444 | 390 | 274 | 465 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Intangible assets excluding goodwill | 131 | 128 | 123 | 121 | 2,121 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Goodwill | — | — | — | — | 1,142 | S100XU33 |
| Investment securities | 261 | 499 | 442 | 768 | 903 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Current assets | 5,826 | 6,132 | 6,555 | 6,696 | 7,263 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Current liabilities | 994 | 1,315 | 1,294 | 1,094 | 1,686 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Short-term borrowings | — | — | — | — | 221 | S100XU33 |
| Long-term borrowings | — | — | — | — | 1,566 | S100XU33 |
| Total liabilities | 1,185 | 1,445 | 1,393 | 1,251 | 4,058 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Equity attributable to owners of parent | 5,897 | 6,106 | 6,407 | 6,885 | 7,298 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Retained earnings | 3,499 | 3,694 | 3,981 | 4,440 | 4,789 | S100QGLW, S100T455, S100VH5F, S100XU33 |
| Treasury stock | -1,570 | -1,556 | -1,541 | -1,548 | -1,176 | S100QGLW, S100T455, S100VH5F, S100XU33 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 30% | S100XU33 |
| Property, plant and equipment | 4% | S100XU33 |
| Intangibles and goodwill | 27% | S100XU33 |
| Investment securities | 7% | S100XU33 |
| Other assets | 32% | S100XU33 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 34% | S100XU33 |
| Equity | 66% | S100XU33 |

### Balance sheet history

| Metric | FY ending Dec 2021 | FY ending Dec 2022 | FY ending Dec 2023 | FY ending Dec 2024 | FY ending Dec 2025 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 7,100 | 7,598 | 7,886 | 8,311 | 11,957 |
| Equity | 5,915 | 6,154 | 6,493 | 7,060 | 7,898 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,836 | 3,026 | 3,265 | 3,132 | 3,548 |

## 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) | 5.5% | S100XU33 |
| Fixed assets ÷ total assets | 3.9% | S100XU33 |
| Goodwill ÷ parent equity | 15.7% | S100XU33 |

### 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) | 29.7% |
| Cash ÷ revenue | 41.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 65.6% |
| Cash vs. profit gap | 63 JPY mn (of net income 11.7%) |
| Shareholder returns / net income | 35.5% |
| Shareholder returns / FCF | 44.2% |
| Shareholder payments — dividends / net income | 35.5% |
| Shareholder payments — dividends / FCF | 44.2% |
| CapEx intensity (capex ÷ revenue) | 2.0% |
| Investing CF relative to operating CF | 247.5% |

## 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 | 6.1% | 0.87× | 5.3% | 1.20× | 6.4% | S100QGLW, S100VH5F |
| 2022 | 6.4% | 0.88× | 5.7% | 1.22× | 6.9% | S100T455, S100VH5F |
| 2023 | 7.2% | 0.86× | 6.2% | 1.24× | 7.6% | S100VH5F |
| 2024 | 9.1% | 0.88× | 8.0% | 1.22× | 9.8% | S100VH5F |
| 2025 | 6.4% | 0.71× | 4.5% | 1.64× | 7.4% | S100XU33 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社東京スペックス | Major shareholder | 33.7% | 2025-12-31 |
| 株式会社ＵＨＰａｒｔｎｅｒｓ２ | Major shareholder | 9.1% | 2025-12-31 |
| 光通信株式会社 | Major shareholder | 7.4% | 2025-12-31 |
| 大関 淑子 | Major shareholder | 4.3% | 2025-12-31 |
| 株式会社ＵＨＰａｒｔｎｅｒｓ３ | Major shareholder | 2.5% | 2025-12-31 |
| 高島 俊文 | Major shareholder | 2.4% | 2025-12-31 |
| ＣＡＣＥＩＳ ＢＫ ＥＳ ＩＩＣＳ ＣＬＩＥＮＴＳ （香港上海銀行東京支店 カストディ業務部） | Major shareholder | 2.4% | 2025-12-31 |
| 今井 正利 | Major shareholder | 1.6% | 2025-12-31 |
| 株式会社エスアイエル | Major shareholder | 1.4% | 2025-12-31 |
| 住友生命保険相互会社 | Major shareholder | 1.2% | 2025-12-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第64期(2025/01/01－2025/12/31) | S100XU33 | 2026-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XU33,, |
| 有価証券報告書－第63期(2024/01/01－2024/12/31) | S100VH5F | 2025-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VH5F,, |
| 有価証券報告書－第62期(2023/01/01－2023/12/31) | S100T455 | 2024-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100T455,, |
| 有価証券報告書－第61期(2022/01/01－2022/12/31) | S100QGLW | 2023-03-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QGLW,, |
| 有価証券報告書－第60期(令和3年1月1日－令和3年12月31日) | S100NR1M | 2022-03-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NR1M,, |
| 有価証券報告書－第59期(令和2年1月1日－令和2年12月31日) | S100L0LQ | 2021-03-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L0LQ,, |

## 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).