# OSAKA Titanium technologies Co.,Ltd: business model and financials

> Latest period: FY ending Mar 2026, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第29期(2025/04/01－2026/03/31) (S100YHFZ)
> Page: https://vizora.meequs.com/en/company/osaka-titanium-technologies
> Retrieved: 2026-09-30T21:33:05.619Z

## Company

OSAKA Titanium technologies, founded in 1993, is a company in Batteries listed on TSE Prime. It has 742 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OSAKA Titanium technologies Co.,Ltd. |
| Ticker | 5726 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5726.T) |
| Listing | TSE Prime |
| Head office | 兵庫県尼崎市東浜町1番地 |
| Representative (per filing) | 代表取締役社長 川福純司 |
| Founded | Jan 1993 |
| Share capital | ¥8.74B |
| Employees (consolidated) | 742 |
| Average salary (parent only) | ¥7.2M |
| Fiscal year end | March |
| Website | www.osaka-ti.co.jp (https://www.osaka-ti.co.jp/) |
| Corporate number | 8140001052085 |
| EDINET | E01327 |
| Industries (Vizora) | Batteries, Non-ferrous Metals & Wires |

> Profile source: annual securities report (S100YHFZ, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Non-ferrous Metals & Wires (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 86 | 25 |
| Profitability | 82.7 | 26 |
| Cash conversion | 50 | 25 |
| Efficiency | 5.6 | 27 |

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 86% of OSAKA Titanium technologies's sales come from Titanium, with High-performance materials making up much of the rest.
- Out of every ¥100 of sales, about ¥12 is left as operating profit.
- Revenue changed -9.6% from the prior year, operating profit -45.2%.

## Company structure

- Segment revenue mix: Titanium 86.1%、High-performance materials 13.9%
- Revenue → net income: ¥46952000000 → ¥2576000000
- Net income → operating cash flow: ¥2576000000 → ¥4169000000（difference ¥1593000000）
- Main uses of operating cash flow: CapEx ¥8072000000 / dividends ¥1107000000 / buybacks ¥0
- Change in cash: ¥-473000000
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 | ¥47B |  |
| Operating income | ¥5.52B | Margin 11.8% |
| Net income | ¥2.58B | Margin 5.5% |
| Free cash flow | -¥3.9B |  |
| Largest business | Titanium | of segment revenue 86.1% |
| Employees (consolidated) | 742 |  |
| EPS | ¥70.02 |  |
| Book value per share | ¥1204.16 |  |
| Equity ratio | 41.4% |  |
| Shares outstanding | 36,800,000 |  |
| Treasury shares | 1,600 |  |
| Shareholders | 21,136 |  |
| Average salary (parent only) | ¥7.2M | Filing company only |
| Cash ratio | 3.9% | Cash ÷ revenue 8.8% |
| Vs. industry median margin | +6.2 pp | Non-ferrous Metals & Wires |
| ROE | 5.9% | Derived from disclosed figures |
| ROA | 2.5% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 84% of positive segment profit
- FY2026, parent-company salary changed +32% over five years
- FY2026, cash is 4% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥17053000000 | ¥46952000000 | +175.3% |
| Operating income | ¥-3425000000 | ¥5524000000 | — |
| Operating margin | -20.1% | 11.8% | +31.8 pp |
| Employees | 684 people | 742 people | +8.5% |
| Cash and equivalents | ¥6523000000 | ¥4145000000 | -36.5% |

### 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 |
| --- | ---: |
| チタン事業 → チタン事業 | 83.9% |
| 高機能材料事業 → 高機能材料事業 | 13.9% |
| 高機能材料事業 → 事業再編・廃止 | 0.5% |
| その他 → 事業再編・廃止 | 1.7% |
| 新設・再編 → チタン事業 | 2.3% |

Segment revenue source references: 5 (derived)

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 46,952 | 100.0% | S100YHFZ |
| Cost of revenue | 35,399 | 75.4% | S100YHFZ |
| Gross profit | 11,553 | 24.6% | S100YHFZ |
| SG&A | 6,028 | 12.8% | S100YHFZ |
| Operating income | 5,524 | 11.8% | S100YHFZ |
| Ordinary income | 6,434 | 13.7% | S100YHFZ |
| Pretax income | 3,814 | 8.1% | S100YHFZ |
| Income tax | 1,237 | 2.6% | S100YHFZ |
| Net income | 2,576 | 5.5% | S100YHFZ |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 75 |
| SG&A | 13 |
| Operating income | 12 |
| (Ref.) Net income | 5 |

### Margin funnel

Gross margin 24.6% → Operating margin 11.8% → Net margin 5.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -9.6%; Core profit growth: -45.2%
Operating leverage (core profit growth ÷ revenue growth): 4.73×
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 | 51,914 | 46,952 | -4,962 | -9.6% |
| Gross profit | 16,130 | 11,553 | -4,577 | -28.4% |
| Operating income | 10,088 | 5,524 | -4,564 | -45.2% |
| Operating cash flow | 2,859 | 4,169 | 1,310 | +45.8% |
| Free cash flow | -57 | -3,903 | -3,846 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 38,189 | 1,152 | 3.0% | 736 | 1,496 | -1,918 | S100LKRX |
| FY ending Mar 2021 | 17,053 | -3,425 | -20.1% | -5,083 | -6,733 | -9,529 | S100OD4X |
| FY ending Mar 2022 | 28,549 | -1,914 | -6.7% | -3,112 | 6,304 | 5,308 | S100R2LJ |
| FY ending Mar 2023 | 43,074 | 4,780 | 11.1% | 4,388 | 741 | -1,616 | S100TSNG |
| FY ending Mar 2024 | 55,322 | 8,288 | 15.0% | 9,689 | 2,098 | -619 | S100W7ZO |
| FY ending Mar 2025 | 51,914 | 10,088 | 19.4% | 7,090 | 2,859 | -57 | S100YHFZ |
| FY ending Mar 2026 | 46,952 | 5,524 | 11.8% | 2,576 | 4,169 | -3,903 | S100YHFZ |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥63.3M |
| Operating income per employee (consolidated) | ¥7.4M |
| Net income per employee (consolidated) | ¥3.5M |

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) | 655 | 651 | 687 | 723 | 742 |
| Average salary (parent company) | ¥5.4M | ¥6.2M | ¥6.5M | ¥7M | ¥7.2M |
| Average age (parent company) | 43.0 years | 43.7 years | 43.7 years | 43.6 years | 43.9 years |
| Average tenure (parent company) | 15.4 years | 16.3 years | 16.1 years | 15.7 years | 16.0 years |

Year over year: Employees (consolidated) +2.6% · Revenue (consolidated) -9.6%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Titanium | 40,444 | 86.1% | 4,654 | 11.5% |
| High-performance materials | 6,507 | 13.9% | 870 | 13.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Titanium | 86.1% | 84.3% | -1.9 | 11.5% |
| High-performance materials | 13.9% | 15.7% | 1.9 | 13.4% |

Segment → industry: High-performance materials → Batteries / High-performance materials → Non-ferrous Metals & Wires / Titanium → Non-ferrous Metals & Wires

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 4,169 | 8.9% | S100YHFZ |
| Capital expenditure | 8,072 | 17.2% | S100YHFZ |
| Free cash flow | -3,903 | -8.3% | 算出 |
| Investing cash flow | -9,677 | -20.6% | S100YHFZ |
| Financing cash flow | 4,992 | 10.6% | S100YHFZ |
| Dividends paid | 1,107 | 2.4% | S100YHFZ |
| Share buyback | 0 | 0.0% | S100YHFZ |
| Change in cash | -473 | -1.0% | S100YHFZ |
| Cash and equivalents | 4,145 | 8.8% | S100YHFZ |

## 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 | 10,666 | 6,971 | 5,975 | 4,619 | 4,145 | S100TSNG, S100W7ZO, S100YHFZ |
| Total assets | 76,586 | 81,544 | 92,986 | 100,925 | 107,066 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Net assets | 26,509 | 30,474 | 38,507 | 42,838 | 44,311 | S100TSNG, S100W7ZO, S100YHFZ |
| Share capital | 8,739 | 8,739 | 8,739 | 8,739 | 8,739 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Property, plant and equipment | 33,091 | 33,058 | 33,496 | 35,252 | 38,713 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Intangible assets excluding goodwill | 822 | 937 | 969 | 744 | 820 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Investment securities | 155 | — | — | — | — | S100R2LJ |
| Current assets | 41,515 | 46,205 | 55,629 | 61,880 | 64,914 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Current liabilities | 15,306 | 23,152 | 16,547 | 27,999 | 32,244 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Short-term borrowings | 9,700 | 16,000 | 5,800 | 17,200 | 23,700 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Long-term borrowings | 30,800 | 24,500 | 34,300 | 26,500 | 26,100 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Total liabilities | 50,077 | 51,070 | 54,478 | 58,087 | 62,754 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Equity attributable to owners of parent | 26,454 | 30,474 | 38,507 | 42,838 | 44,311 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Retained earnings | 8,781 | 12,802 | 20,835 | 25,166 | 26,639 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |
| Treasury stock | -10 | -10 | -10 | -10 | -10 | S100R2LJ, S100TSNG, S100W7ZO, S100YHFZ |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 4% | S100YHFZ |
| Property, plant and equipment | 36% | S100YHFZ |
| Intangibles and goodwill | 1% | S100YHFZ |
| Other assets | 59% | S100YHFZ |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 59% | S100YHFZ |
| Equity | 41% | S100YHFZ |
| Other liabilities | 0% | S100YHFZ |

### 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 | 76,586 | 81,544 | 92,986 | 100,925 | 107,066 |
| Equity | 26,509 | 30,474 | 38,507 | 42,838 | 44,311 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 10,666 | 6,971 | 5,975 | 4,619 | 4,145 |

## 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) | 82.5% | S100YHFZ |
| Fixed assets ÷ total assets | 36.2% | S100YHFZ |
| Goodwill ÷ parent equity | — | —, S100YHFZ |

### 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) | 3.9% |
| Cash ÷ revenue | 8.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 75.5% |
| Cash vs. profit gap | 1,593 JPY mn (of net income 61.8%) |
| Shareholder returns / net income | 43.0% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 43.0% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 17.2% |
| Investing CF relative to operating CF | 232.1% |

## 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 | — | —× | -4.1% | —× | — | S100R2LJ |
| 2023 | 10.2% | 0.54× | 5.5% | 2.78× | 15.4% | S100TSNG |
| 2024 | 17.5% | 0.63× | 11.1% | 2.53× | 28.1% | S100W7ZO |
| 2025 | 13.7% | 0.54× | 7.3% | 2.38× | 17.4% | S100YHFZ |
| 2026 | 5.5% | 0.45× | 2.5% | 2.39× | 5.9% | S100YHFZ |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 9.4% | 2026-03-31 |
| 株式会社神戸製鋼所 | Major shareholder | 8.2% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.8% | 2026-03-31 |
| 日本製鉄株式会社 | Major shareholder | 4.9% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 4.2% | 2026-03-31 |
| 住友商事株式会社 | Major shareholder | 2.4% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 2.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505301 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.1% | 2026-03-31 |
| BNYM AS AGT/CLTS 10 PERCENT （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 2.0% | 2026-03-31 |
| 野村證券株式会社 | Major shareholder | 1.8% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第29期(2025/04/01－2026/03/31) | S100YHFZ | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHFZ,, |
| 有価証券報告書－第28期(2024/04/01－2025/03/31) | S100W7ZO | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7ZO,, |
| 有価証券報告書－第27期(2023/04/01－2024/03/31) | S100TSNG | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSNG,, |
| 有価証券報告書－第26期(2022/04/01－2023/03/31) | S100R2LJ | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2LJ,, |
| 有価証券報告書－第25期(令和3年4月1日－令和4年3月31日) | S100OD4X | 2022-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OD4X,, |
| 有価証券報告書－第24期(令和2年4月1日－令和3年3月31日) | S100LKRX | 2021-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LKRX,, |

## 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).