# OSG CORPORATION CO.,LTD.: business model and financials

> Latest period: FY ending Jan 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第56期(2025/02/01－2026/01/31) (S100Y0OW)
> Page: https://vizora.meequs.com/en/company/osg-6757
> Retrieved: 2026-09-30T21:02:56.752Z

## Company

OSG is a company in Home Appliances listed on TSE Standard. It has 366 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | OSG CORPORATION CO.,LTD. |
| Ticker | 6757 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6757.T) |
| Listing | TSE Standard |
| Head office | 大阪市北区天満一丁目26番3号 |
| Representative (per filing) | 代表取締役社長 山田 啓輔 |
| Share capital | ¥601M |
| Employees (consolidated) | 366 |
| Average salary (parent only) | ¥5.2M |
| Fiscal year end | January |
| Website | www.osg-nandemonet.co.jp (https://www.osg-nandemonet.co.jp/) |
| Corporate number | 3120001061514 |
| EDINET | E02065 |
| Industries (Vizora) | Home Appliances, Beverages & Dairy, Processed Foods, Takeout & Delivery Meals |

> Profile source: annual securities report (S100Y0OW, filed 2026-04-24). As of filing

## Five-axis industry profile

Primary industry: Takeout & Delivery Meals (2026-01-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 3.3 | 15 |
| Profitability | 28.1 | 16 |
| Cash conversion | 10.7 | 14 |
| Efficiency | 15.6 | 16 |

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 30% of OSG's sales come from Food business, with Water related apparatus business and Maintenance business making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +3.2% from the prior year, operating profit +55.1%.

## Company structure

- Segment revenue mix: Food business 30.5%、Water related apparatus business 27.1%、Maintenance business 25.3%、Delivery service business to home and office 17.1%
- Revenue → net income: ¥8185210000 → ¥40310000
- Net income → operating cash flow: ¥40310000 → ¥94670000（difference ¥54360000）
- Main uses of operating cash flow: CapEx ¥450298000 / dividends ¥210767000 / buybacks ¥121000
- Change in cash: ¥-196622000
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 | ¥8.19B |  |
| Operating income | ¥207.8M | Margin 2.5% |
| Net income | ¥106.7M | Margin 1.3% |
| Free cash flow | -¥355.6M |  |
| Largest business | Food business | of segment revenue 30.5% |
| Employees (consolidated) | 366 |  |
| EPS | ¥17.49 |  |
| Book value per share | ¥309.8 |  |
| Equity ratio | 38.4% |  |
| Shares outstanding | 5,500,000 |  |
| Treasury shares | 279,600 |  |
| Shareholders | 3,881 |  |
| Average salary (parent only) | ¥5.2M | Filing company only |
| Cash ratio | 8.1% | Cash ÷ revenue 6.4% |
| Vs. industry median margin | -1.5 pp | Processed Foods |
| ROE | 4.4% | Derived from disclosed figures |
| ROA | 1.7% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 86% of positive segment profit
- FY2026, segment profit share differs by 61 points

## What changed in 5 years

| Metric | FY ending Jan 2021 | FY ending Jan 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥10235091000 | ¥8185210000 | -20.0% |
| Operating income | ¥1250299000 | ¥207767000 | -83.4% |
| Operating margin | 12.2% | 2.5% | -9.7 pp |
| Employees | 374 people | 366 people | -2.1% |
| Cash and equivalents | ¥699964000 | ¥521593000 | -25.5% |

### Change in segment revenue mix

Span: FY ending Jan 2021 → FY ending Jan 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 水関連機器事業 → 事業再編・廃止 | 27.2% |
| メンテナンス事業 → 事業再編・廃止 | 18.5% |
| ＨＯＤ（水宅配）事 業 → 事業再編・廃止 | 13.8% |
| フランチャイズ事業 → 事業再編・廃止 | 39.1% |
| その他事業 → 事業再編・廃止 | 1.4% |
| 新設・再編 → 水関連機器事業 | 27.1% |
| 新設・再編 → メンテナンス事業 | 25.3% |
| 新設・再編 → ＨＯＤ（水宅配）事業 | 17.1% |
| 新設・再編 → FOOD事業 | 30.5% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Food business | 2 years | -3.0% | ¥2494105000 | -5.4% | 2 |
| Water related apparatus business | 2 years | +8.2% | ¥2217581000 | -4.8% | 2 |
| Maintenance business | 2 years | -1.2% | ¥2074206000 | 19.0% | 2 |
| Delivery service business to home and office | 2 years | +6.8% | ¥1399317000 | 4.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,185 | 100.0% | S100Y0OW |
| Cost of revenue | 3,371 | 41.2% | S100Y0OW |
| Gross profit | 4,815 | 58.8% | S100Y0OW |
| SG&A | 4,607 | 56.3% | S100Y0OW |
| Operating income | 208 | 2.5% | S100Y0OW |
| Ordinary income | 216 | 2.6% | S100Y0OW |
| Pretax income | 150 | 1.8% | S100Y0OW |
| Income tax | 110 | 1.3% | S100Y0OW |
| Net income | 40 | 0.5% | S100Y0OW |
| Net income attributable to owners | 107 | 1.3% | S100Y0OW |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 41 |
| SG&A | 56 |
| Operating income | 3 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 58.8% → Operating margin 2.5% → Net margin 1.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +3.2%; Core profit growth: +55.1%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 17.12×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Jan 2025 → FY ending Jan 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 7,930 | 8,185 | 255 | +3.2% |
| Gross profit | 4,655 | 4,815 | 159 | +3.4% |
| Operating income | 134 | 208 | 74 | +55.1% |
| Net income attributable to owners | 34 | 107 | 73 | +215.3% |
| Operating cash flow | -1 | 95 | 95 | — |
| Free cash flow | -168 | -356 | -187 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Jan 2020 | 8,360 | 742 | 8.9% | 271 | 543 | 440 | S100L8P9 |
| FY ending Jan 2021 | 10,235 | 1,250 | 12.2% | 583 | 1,118 | 1,069 | S100NYNG |
| FY ending Jan 2022 | 9,868 | 1,141 | 11.6% | 638 | 650 | 245 | S100QO4E |
| FY ending Jan 2023 | 8,127 | 397 | 4.9% | 198 | 306 | 156 | S100TC6Z |
| FY ending Jan 2024 | 7,896 | 310 | 3.9% | 50 | 447 | 290 | S100VOGY |
| FY ending Jan 2025 | 7,930 | 134 | 1.7% | 34 | -1 | -168 | S100Y0OW |
| FY ending Jan 2026 | 8,185 | 208 | 2.5% | 107 | 95 | -356 | S100Y0OW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥22.4M |
| Operating income per employee (consolidated) | ¥567.7K |
| Net income per employee (consolidated) | ¥291.5K |

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

| History | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 355 | 368 | 351 | 349 | 366 |
| Average salary (parent company) | ¥4.7M | ¥4.6M | ¥4.6M | ¥5M | ¥5.2M |
| Average age (parent company) | 39.0 years | 40.0 years | 39.0 years | 41.0 years | 40.0 years |
| Average tenure (parent company) | 13.0 years | 13.0 years | 13.0 years | 14.0 years | 13.0 years |

Year over year: Employees (consolidated) +4.9% · Revenue (consolidated) +3.2%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Water related apparatus business | 2,218 | 27.1% | -107 | -4.8% |
| Maintenance business | 2,074 | 25.3% | 393 | 19.0% |
| Delivery service business to home and office | 1,399 | 17.1% | 64 | 4.6% |
| Food business | 2,494 | 30.5% | -136 | -5.4% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Water related apparatus business | 27.1% | — | — | -4.8% |
| Maintenance business | 25.3% | 86.1% | 60.7 | 19.0% |
| Delivery service business to home and office | 17.1% | 13.9% | -3.2 | 4.6% |
| Food business | 30.5% | — | — | -5.4% |

Loss-making segment (excluded from profit shares): Water related apparatus business -107 JPY mn

Loss-making segment (excluded from profit shares): Food business -136 JPY mn

Segment → industry: Maintenance business → Home Appliances / Water related apparatus business → Home Appliances / Delivery service business to home and office → Beverages & Dairy / Food business → Processed Foods / Food business → Takeout & Delivery Meals

## Revenue by geography

No geographic revenue breakdown was disclosed.

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 95 | 1.2% | S100Y0OW |
| Capital expenditure | 450 | 5.5% | S100Y0OW |
| Free cash flow | -356 | -4.3% | 算出 |
| Investing cash flow | -416 | -5.1% | S100Y0OW |
| Financing cash flow | 121 | 1.5% | S100Y0OW |
| Dividends paid | 211 | 2.6% | S100Y0OW |
| Share buyback | 0 | 0.0% | S100Y0OW |
| Change in cash | -197 | -2.4% | S100Y0OW |
| Cash and equivalents | 522 | 6.4% | S100Y0OW |

## 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 Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 623 | 471 | 549 | 721 | 522 | S100TC6Z, S100VOGY, S100Y0OW |
| Total assets | 6,814 | 6,732 | 6,725 | 6,398 | 6,465 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Net assets | 3,691 | 3,425 | 3,172 | 2,902 | 2,814 | S100TC6Z, S100VOGY, S100Y0OW |
| Share capital | 601 | 601 | 601 | 601 | 601 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Trade receivables | 1,047 | — | — | — | — | S100QO4E |
| Property, plant and equipment | 1,568 | 1,584 | 1,463 | 1,421 | 1,708 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Intangible assets excluding goodwill | 247 | 240 | 242 | 277 | 265 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Investment securities | 5 | 39 | 24 | 1 | 36 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Current assets | 4,477 | 4,315 | 4,458 | 4,138 | 3,904 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Current liabilities | 2,166 | 2,334 | 2,645 | 2,622 | 2,563 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Trade payables | 364 | 320 | 276 | 287 | 266 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Short-term borrowings | 1,030 | 1,200 | 1,333 | 1,413 | 1,481 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Long-term borrowings | 255 | 247 | 173 | 110 | 304 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Total liabilities | 3,123 | 3,307 | 3,553 | 3,495 | 3,651 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Non-controlling interests | 584 | 525 | 433 | 335 | 334 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Equity attributable to owners of parent | 3,061 | 2,844 | 2,669 | 2,496 | 2,404 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Retained earnings | 1,908 | 1,692 | 1,516 | 1,342 | 1,448 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |
| Treasury stock | -137 | -137 | -138 | -138 | -126 | S100QO4E, S100TC6Z, S100VOGY, S100Y0OW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100Y0OW |
| Property, plant and equipment | 26% | S100Y0OW |
| Intangibles and goodwill | 4% | S100Y0OW |
| Investment securities | 1% | S100Y0OW |
| Other assets | 61% | S100Y0OW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100Y0OW |
| Other liabilities | 52% | S100Y0OW |
| Equity | 44% | S100Y0OW |

### Balance sheet history

| Metric | FY ending Jan 2022 | FY ending Jan 2023 | FY ending Jan 2024 | FY ending Jan 2025 | FY ending Jan 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 6,814 | 6,732 | 6,725 | 6,398 | 6,465 |
| Equity | 3,691 | 3,425 | 3,172 | 2,902 | 2,814 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 623 | 471 | 549 | 721 | 522 |

## 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) | 20.9% | S100Y0OW |
| Fixed assets ÷ total assets | 26.4% | S100Y0OW |
| Goodwill ÷ parent equity | — | —, S100Y0OW |

### 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) | 8.1% |
| Cash ÷ revenue | 6.4% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 45.6% |
| Cash vs. profit gap | -12 JPY mn (of net income -11.3%) |
| Shareholder returns / net income | 197.7% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 197.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.5% |
| Investing CF relative to operating CF | 439.5% |

## 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 6.5% | 1.45× | 9.4% | 2.23× | 20.9% | S100QO4E |
| 2023 | 2.4% | 1.20× | 2.9% | 2.29× | 6.7% | S100TC6Z |
| 2024 | 0.6% | 1.17× | 0.7% | 2.44× | 1.8% | S100VOGY |
| 2025 | 0.4% | 1.21× | 0.5% | 2.54× | 1.3% | S100Y0OW |
| 2026 | 1.3% | 1.27× | 1.7% | 2.63× | 4.4% | S100Y0OW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 株式会社三愛コスモス | Major shareholder | 38.3% | 2026-01-31 |
| ＯＳＧ社員持株会 | Major shareholder | 4.7% | 2026-01-31 |
| 湯川 剛 | Major shareholder | 2.4% | 2026-01-31 |
| 湯川 大 | Major shareholder | 1.9% | 2026-01-31 |
| 湯川 学 | Major shareholder | 1.9% | 2026-01-31 |
| 畑 勝 | Major shareholder | 1.6% | 2026-01-31 |
| 吉田 晴雄 | Major shareholder | 1.5% | 2026-01-31 |
| ＳＨＡＯ ＪＩＥ | Major shareholder | 1.4% | 2026-01-31 |
| 矢澤 徳仁 | Major shareholder | 0.5% | 2026-01-31 |
| 三菱UFJ信託銀行株式会社 | Major shareholder | 0.5% | 2026-01-31 |
| 株式会社関西みらい銀行 | Major shareholder | 0.5% | 2026-01-31 |
| 三菱ケミカル株式会社 | Major shareholder | 0.5% | 2026-01-31 |
| 日本生命保険相互会社 | Major shareholder | 0.5% | 2026-01-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第56期(2025/02/01－2026/01/31) | S100Y0OW | 2026-04-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100Y0OW,, |
| 有価証券報告書－第55期(2024/02/01－2025/01/31) | S100VOGY | 2025-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VOGY,, |
| 有価証券報告書－第54期(2023/02/01－2024/01/31) | S100TC6Z | 2024-04-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TC6Z,, |
| 有価証券報告書－第53期(2022/02/01－2023/01/31) | S100QO4E | 2023-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QO4E,, |
| 有価証券報告書－第52期(令和3年2月1日－令和4年1月31日) | S100NYNG | 2022-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100NYNG,, |
| 有価証券報告書－第51期(令和2年2月1日－令和3年1月31日) | S100L8P9 | 2021-04-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100L8P9,, |

## 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).